HSBC
HSBC · NYSESavings Institution, Federally Chartered · Fiscal year ends Dec 31
Net income was $23.1B. Operating cash flow of $29.8B less capital expenditure of $1.4B left free cash flow of $28.3B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Selling, general & admin | $11.6B | $10.8B | $10.4B | $10.5B | $12B |
| Operating income | $15.9B | $14.3B | $30.5B | $29.4B | $28B |
| Interest expense | $9.7B | $22.4B | $65.1B | $75.9B | $63.1B |
| Pre-tax income | $18.9B | $17.1B | $30.3B | $32.3B | $29.9B |
| Income tax | $4.2B | $809M | $5.8B | $7.3B | $6.8B |
| Net income | $14.7B | $16.2B | $24.6B | $25B | $23.1B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $574B | $522B | $491B | $435B | $433B |
| Net PP&E | $10.3B | $10.4B | $10.5B | $9.4B | $9.6B |
| Total assets | $2,954B | $2,949B | $3,039B | $3,017B | $3,233B |
| Total liabilities | $2,757B | $2,764B | $2,846B | $2,825B | $3,027B |
| Shareholders' equity | $189B | $178B | $185B | $185B | $198B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $104B | $19.4B | $39.1B | $65.3B | $29.8B |
| Capital expenditure | $1.1B | $1.3B | $1.1B | $1.3B | $1.4B |
| Free cash flow | $103B | $18.1B | $38B | $64B | $28.3B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | −9.6% | 113.1% | −3.7% | −4.8% |
| Return on equityBlank when equity is negative | 7.8% | 9.1% | 13.3% | 13.5% | 11.7% |
| Cash conversion (CFO ÷ net income) | 7.10x | 1.19x | 1.59x | 2.61x | 1.29x |
| Interest cover | 1.64x | 0.64x | 0.47x | 0.39x | 0.44x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.