HSBC (ADR)
Connects home-market banking in Hong Kong and Britain with cross-border corporate and wealth services.
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Profile
Provides retail and commercial banking in Hong Kong and Britain, alongside cross-border institutional banking, markets, payments, trade finance, private banking, asset management and insurance. Its network links two home markets with internationally mobile companies and wealth clients, while regulated banking and financial-crime controls shape operations.
Organizes its banking franchises around Hong Kong and Britain, where retail, wealth and commercial banking serve the two home markets. The wider group also owns Hang Seng Bank and operates dedicated businesses for corporate and institutional clients and internationally mobile wealth customers.
Connects companies across jurisdictions through commercial banking, global banking and markets, foreign exchange, payments, trade solutions and securities services. Premier banking, private banking, asset management and insurance extend the network to affluent and high-net-worth clients outside the home markets.
Built around cross-border connectivity, the model draws on a banking network created for trade and later expanded through acquisitions. Operations depend on bank licenses, prudential capital and liquidity requirements, and effective financial-crime controls. Geographic exposure remains concentrated in Hong Kong and Britain, while transaction banking and wealth flows link the international businesses.
Company facts
Key statistics
Year to date +28.7% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Apr 14, 2026 | Exane BNP Paribas | Downgrade | Outperform | Neutral |
| Dec 17, 2025 | Keefe, Bruyette & Woods | Upgrade | Market Perform | Outperform |
| Dec 10, 2025 | B of A Securities | Upgrade | Neutral | Buy |
| Nov 20, 2025 | Erste Group | Upgrade | Hold | Buy |
| Oct 10, 2025 | Jefferies | Downgrade | Buy | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $2.24 | $2.25 | +0.4% | $18.66B | $19.04B | +2.1% | −1.69% |
| May 5, 2026Q1 FY26 | $2.18 | $2.20 | +0.9% | $18.60B | $19.13B | +2.8% | +4.58% |
| Feb 25, 2026Q4 FY25 | $1.80 | $1.85 | +2.8% | $17.01B | $17.70B | +4.0% | +0.32% |
| Oct 28, 2025Q3 FY25 | $1.65 | $1.80 | +9.1% | $16.04B | $33.48B | +108.8% | +0.64% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $33.85B | $33.73B | $33.48B | $33.03B | $33.84B | $34.16B | |
| Gross profit | $17.74B | $17.66B | $17.90B | $17.72B | $19.13B | $19.04B | |
| Operating income | $9.48B | $6.33B | $7.30B | $6.80B | $9.38B | $10.15B | |
| Net income | $7.32B | $4.73B | $5.28B | $4.94B | $7.35B | $7.91B | |
| Diluted EPS | $1.95 | $1.30 | $1.40 | $1.35 | $2.00 | $2.20 | |
| Gross margin | 52.4% | 52.3% | 53.5% | 53.7% | 56.5% | 55.7% | |
| Operating margin | 28.0% | 18.8% | 21.8% | 20.6% | 27.7% | 29.7% |
Fiscal years (4-quarter sums)FY21 $56.04B · FY22 $91.11B · FY23 $174.18B · FY24 $166.48B · FY25 $134.10B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $632.77B · Total debt $132.90B · Total assets $3.44T · Shareholders' equity $196.68B
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 25 | $0.50 | |
| May 15, 2026 | May 15 | Jun 26 | $0.50 | cut from $2.25 |
| Mar 13, 2026 | Mar 13 | Apr 30 | $2.25 | raised from $0.495 |
| Nov 7, 2025 | Nov 7 | Dec 18 | $0.495 | cut from $0.50 |
| Aug 15, 2025 | Aug 15 | Sep 26 | $0.50 | |
| May 9, 2025 | May 9 | Jun 20 | $0.50 | cut from $1.80 |
| Mar 7, 2025 | Mar 7 | Apr 25 | $1.80 | raised from $0.50 |
| Nov 8, 2024 | Nov 8 | Dec 19 | $0.50 |
Ownership
Shares outstanding 3.44B · Float 3.44B · 100.0% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Fisher Asset Management, LLC | 18.57M | 0.54% | 13F | Aug 4, 2026 |
| Dimensional Fund Advisors LP | 9.81M | 0.29% | 13F | Aug 11, 2026 |
| Morgan Stanley | 8.08M | 0.24% | 13F | Aug 13, 2026 |
| Goldman Sachs Group Inc | 5.66M | 0.16% | 13F | Aug 14, 2026 |
| FMR LLC | 4.34M | 0.13% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 7, 2026 | Daniel Scott Palomaki | officer: Global Financial Controller | −23,123 | $18.11 |
| Mar 27, 2026 | Jonathan Bingham | officer: Global Financial Controller | +13 | $15.81 |
Peers
- Barclays (ADR)
Broad UK banking and global institutional-market overlap
- Citi
Global rival in transaction services, markets and international wealth
- Lloyds Banking Group (ADR)
Scale competitor across UK retail, mortgages and commercial banking
- UBS (ADR)
Specialist threat in global wealth and Asia-Pacific private banking
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| HSBC (ADR) | $104.30 | +0.76% | $355.80B | 14.9 | 11.9 | 2.8 | +32.2% |
| Barclays (ADR) | $26.91 | +0.15% | $90.56B | 10.2 | 6.1 | 2.2 | −55.9% |
| Citi | $132.62 | −0.19% | $227.81B | 14.3 | 11.4 | 1.3 | +14.3% |
| Lloyds Banking Group (ADR) | $5.95 | +0.42% | $85.92B | 13.7 | 8.6 | 3.3 | −64.8% |
| UBS (ADR) | $54.90 | −0.02% | $179.95B | 25.2 | 13.7 | 2.9 | −27.1% |
| Median | 14.0 | 10.0 | 2.6 | −41.5% |