HSBC HOLDINGS PLC's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), HSBC HOLDINGS PLC reported net income of $19.7B (-6.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net interest income | $34.8B | $32.7B | $35.8B | $32.6B |
| – interest income | $97.9B | $108.6B | $100.9B | $55.1B |
| – interest expense | ($63.1B) | ($75.9B) | ($65.1B) | ($22.4B) |
| Net fee income | $13.3B | $12.3B | $11.8B | $11.5B |
| – fee income | $17.6B | $16.3B | $15.6B | $15.2B |
| – fee expense | ($4.3B) | ($4.0B) | ($3.8B) | ($3.8B) |
| Net income from financial instruments held for trading or managed on a fair value basis | $19.7B | $21.1B | $16.7B | $10.5B |
| Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | $11.2B | $5.9B | $7.9B | — |
| Insurance finance expense | ($11.2B) | ($6.0B) | ($7.8B) | ($3.4B) |
| Insurance service result | $1.8B | $1.3B | $1.1B | — |
| – insurance service revenue | $3.2B | $2.8B | $2.3B | — |
| – insurance service expense | ($1.4B) | ($1.4B) | ($1.2B) | — |
| Gain on acquisition | $0 | $0 | $1.6B | — |
| Losses recognised on sale of business operations6 | ($47.0M) | ($1.8B) | $150.0M | ($2.4B) |
| Other operating income/(expense) | ($1.3B) | $223.0M | ($1.1B) | ($133.0M) |
| Total operating income | $68.3B | $65.9B | $66.1B | $61.6B |
| Change in expected credit losses and other credit impairment charges | ($3.9B) | ($3.4B) | ($3.4B) | ($3.6B) |
| Net operating income | $64.4B | $62.4B | $62.6B | $48.1B |
| Employee compensation and benefits | ($19.6B) | ($18.5B) | ($18.2B) | ($18.4B) |
| General and administrative expenses | ($12.0B) | ($10.5B) | ($10.4B) | ($11.1B) |
| Depreciation and impairment of property, plant and equipment and right-of-use assets | ($2.0B) | ($1.8B) | ($1.6B) | ($2.2B) |
| Amortisation and impairment of intangible assets | ($2.9B) | ($2.2B) | ($1.8B) | ($1.7B) |
| Total operating expenses | ($36.4B) | ($33.0B) | ($32.1B) | ($33.3B) |
| Operating profit | $28.0B | $29.4B | $30.5B | $14.8B |
| Share of profit in associates and joint ventures | $2.9B | $2.9B | $2.8B | $2.7B |
| Impairment of interest in associate | ($1.0B) | $0 | ($3.0B) | — |
| Profit before tax | $29.9B | $32.3B | $30.3B | $17.5B |
| Tax expense | ($6.8B) | ($7.3B) | ($5.8B) | ($858.0M) |
| – ordinary shareholders of the parent company | $21.1B | $22.9B | $22.4B | $14.8B |
| – other equity holders | $1.2B | $1.1B | $1.1B | $1.2B |
| – non-controlling interests | $846.0M | $1.0B | $1.0B | $635.0M |
| – profit for the year | $23.1B | $25.0B | $24.6B | $16.7B |
| Basic earnings per ordinary share (in dollars per share) | $1.21 | $1.25 | $1.15 | $0.75 |
| Diluted earnings per ordinary share (in dollars per share) | $1.20 | $1.24 | $1.14 | $0.74 |
| Line item | Jun 30, 2026 · YTD | Jun 30, 2025 · YTD | Jun 30, 2024 · YTD | Jun 30, 2023 · YTD |
|---|---|---|---|---|
| Net interest income | $18.2B | $16.8B | $16.9B | $18.3B |
| – interest income | $48.1B | $49.0B | $55.4B | $47.0B |
| – interest expense | ($29.8B) | ($32.2B) | ($38.5B) | ($28.7B) |
| Net fee income | $7.3B | $6.6B | $6.2B | $6.1B |
| – fee income | $9.6B | $8.6B | $8.2B | $7.9B |
| – fee expense | ($2.3B) | ($2.0B) | ($2.0B) | ($1.9B) |
| Net income from financial instruments held for trading or managed on a fair value basis | $10.5B | $10.5B | $10.5B | $8.1B |
| Net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | $6.1B | $5.1B | $2.4B | $4.3B |
| Insurance finance expense | ($5.8B) | ($5.3B) | ($2.5B) | ($4.2B) |
| Insurance service result | $1.0B | $785.0M | $662.0M | $524.0M |
| – insurance service revenue | $1.6B | $1.5B | $1.3B | $1.1B |
| – insurance service expense | ($614.0M) | ($726.0M) | ($648.0M) | ($580.0M) |
| Net losses relating to sale of business operations | ($433.0M) | ($34.0M) | $3.3B | $2.1B |
| Other operating income/(expense) | $845.0M | ($424.0M) | ($143.0M) | $184.0M |
| Net operating income before change in expected credit losses and other credit impairment charges | $37.7B | $34.1B | $37.3B | $36.9B |
| Change in expected credit losses and other credit impairment charges | ($2.4B) | ($1.9B) | ($1.1B) | ($1.3B) |
| Net operating income | $35.4B | $32.2B | $36.2B | $35.5B |
| Employee compensation and benefits | ($9.7B) | ($9.9B) | ($9.2B) | ($9.0B) |
| General and administrative expenses | ($5.3B) | ($4.9B) | ($5.1B) | ($4.9B) |
| Depreciation and impairment of property, plant and equipment and right-of-use assets | ($1.0B) | ($955.0M) | ($867.0M) | ($782.0M) |
| Amortisation and impairment of intangible assets | ($1.4B) | ($1.3B) | ($1.1B) | ($809.0M) |
| Total operating expenses | ($17.4B) | ($17.0B) | ($16.3B) | ($15.5B) |
| Operating profit | $18.0B | $15.2B | $19.9B | $20.1B |
| Share of profit in associates and joint ventures | $1.6B | $1.7B | $1.6B | $1.6B |
| Impairment of interest in associate | $0 | ($1.0B) | — | — |
| Profit before tax | $19.5B | $15.8B | $21.6B | $21.7B |
| Tax expense | ($4.2B) | ($3.4B) | ($3.9B) | ($3.6B) |
| – ordinary shareholders of the parent company | $14.6B | $11.5B | $16.6B | $17.0B |
| – other equity holders | $633.0M | $547.0M | $526.0M | $542.0M |
| – non-controlling interests | $62.0M | $384.0M | $553.0M | $563.0M |
| Profit after tax | $15.3B | $12.4B | $17.7B | $18.1B |
| Basic earnings per ordinary share (in dollars per share) | $0.85 | $0.65 | $0.89 | $0.86 |
| Diluted earnings per ordinary share (in dollars per share) | $0.85 | $0.65 | $0.88 | $0.86 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and balances at central banks | $242.9B | $267.7B | $285.9B | $327.0B |
| Hong Kong Government certificates of indebtedness | $44.1B | $42.3B | $42.0B | $43.8B |
| Trading assets | $366.2B | $314.8B | $289.2B | $218.1B |
| Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | $133.1B | $115.8B | $110.6B | $45.1B |
| Derivatives | $237.7B | $268.6B | $229.7B | $284.1B |
| Loans and advances to banks | $108.5B | $102.0B | $112.9B | $104.9B |
| Loans and advances to customers | $988.4B | $930.7B | $938.5B | $924.9B |
| Reverse repurchase agreements – non-trading | $298.4B | $252.5B | $252.2B | $253.8B |
| Financial investments | $567.2B | $493.2B | $442.8B | $425.6B |
| Assets held for sale | $11.1B | $27.2B | $114.1B | $115.9B |
| Prepayments, accrued income and other assets | $184.8B | $152.7B | $165.3B | $156.9B |
| Current tax assets | $864.0M | $1.3B | $1.5B | $1.2B |
| Interests in associates and joint ventures | $29.6B | $28.9B | $27.3B | $29.3B |
| Goodwill and intangible assets | $13.1B | $12.4B | $12.5B | $21.3B |
| Deferred tax assets | $7.2B | $6.8B | $7.8B | $7.5B |
| Total assets | $3.2T | $3.0T | $3.0T | $3.0T |
| Hong Kong currency notes in circulation | $44.1B | $42.3B | $42.0B | $43.8B |
| Deposits by banks | $98.0B | $74.0B | $73.2B | $66.7B |
| Customer accounts | $1.8T | $1.7T | $1.6T | $1.6T |
| Repurchase agreements – non-trading | $205.0B | $180.9B | $172.1B | $127.7B |
| Trading liabilities | $72.1B | $66.0B | $73.2B | $72.4B |
| Financial liabilities designated at fair value | $158.5B | $138.7B | $141.4B | $127.3B |
| Derivatives | $237.9B | $264.4B | $234.8B | $285.8B |
| Debt securities in issue | $99.7B | $105.8B | $93.9B | $78.1B |
| Liabilities of disposal groups held for sale | $23.4B | $29.0B | $108.4B | $114.6B |
| Accruals, deferred income and other liabilities | $142.1B | $130.3B | $136.6B | $133.2B |
| Current tax liabilities | $3.0B | $1.7B | $2.8B | $1.1B |
| Insurance contract liabilities | $123.0B | $107.6B | $120.9B | — |
| Provisions | $3.4B | $1.7B | $1.7B | $2.0B |
| Deferred tax liabilities | $2.1B | $1.3B | $1.2B | $2.4B |
| Subordinated liabilities | $28.4B | $26.0B | $25.0B | $22.3B |
| Total liabilities | $3.0T | $2.8T | $2.8T | $2.8T |
| Called up share capital | $8.6B | $9.0B | $9.6B | $10.1B |
| Share premium account | $111.0M | $14.8B | $14.7B | $14.7B |
| Other equity instruments | $20.7B | $19.1B | $17.7B | $19.7B |
| Other reserves | ($795.0M) | ($10.3B) | ($8.9B) | ($9.1B) |
| Retained earnings | $169.6B | $152.4B | $152.1B | $152.1B |
| Total shareholders’ equity | $198.2B | $185.0B | $185.3B | $187.5B |
| Non-controlling interests | $7.4B | $7.3B | $7.3B | $8.5B |
| Total equity | $205.7B | $192.3B | $192.6B | $196.0B |
| Total liabilities and equity | $3.2T | $3.0T | $3.0T | $3.0T |
| Line item | Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 |
|---|---|---|---|---|
| Cash and balances at central banks | $227.8B | $246.4B | $277.1B | $307.7B |
| Hong Kong Government certificates of indebtedness | $45.0B | $42.6B | $43.0B | $42.4B |
| Trading assets | $424.0B | $333.7B | $331.3B | $255.4B |
| Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | $138.9B | $128.9B | $117.0B | $104.3B |
| Derivatives | $256.0B | $249.7B | $219.3B | $272.6B |
| Loans and advances to banks | $110.5B | $107.6B | $102.1B | $100.9B |
| Loans and advances to customers | $1.0T | $981.7B | $938.3B | $959.6B |
| Reverse repurchase agreements – non-trading | $311.9B | $283.2B | $230.2B | $258.1B |
| Financial investments | $604.8B | $548.0B | $467.4B | $407.9B |
| Assets held for sale | $22.7B | $39.0B | $5.8B | $95.5B |
| Prepayments, accrued income and other assets | $221.5B | $204.4B | $184.3B | $175.5B |
| Current tax assets | $1.2B | $1.4B | $1.3B | $1.3B |
| Interests in associates and joint ventures | $31.3B | $28.2B | $28.5B | $29.5B |
| Goodwill and intangible assets | $12.7B | $13.0B | $12.2B | $11.9B |
| Deferred tax assets | $7.7B | $6.7B | $7.4B | $8.2B |
| Total assets | $3.4T | $3.2T | $3.0T | $3.0T |
| Hong Kong currency notes in circulation | $45.0B | $42.6B | $43.0B | $42.4B |
| Deposits by banks | $91.4B | $97.8B | $82.4B | $68.7B |
| Customer accounts | $1.8T | $1.7T | $1.6T | $1.6T |
| Repurchase agreements – non-trading | $276.3B | $195.5B | $202.8B | $170.1B |
| Trading liabilities | $86.4B | $70.7B | $77.5B | $81.2B |
| Financial liabilities designated at fair value | $173.8B | $163.6B | $140.8B | $139.6B |
| Derivatives | $254.7B | $257.6B | $217.1B | $269.6B |
| Debt securities in issue | $105.0B | $102.1B | $98.2B | $85.5B |
| Liabilities of disposal groups held for sale | $30.1B | $46.2B | $5.0B | $87.2B |
| Accruals, deferred income and other liabilities | $184.1B | $167.1B | $157.2B | $155.3B |
| Current tax liabilities | $3.6B | $3.2B | $2.8B | $1.9B |
| Insurance contract liabilities | $130.1B | $118.3B | $125.3B | $115.8B |
| Provisions | $2.9B | $2.1B | $1.5B | $1.7B |
| Deferred tax liabilities | $2.2B | $1.6B | $1.2B | $976.0M |
| Subordinated liabilities | $27.9B | $27.6B | $25.5B | $23.3B |
| Total liabilities | $3.2T | $3.0T | $2.8T | $2.8T |
| Called up share capital | $8.6B | $8.7B | $9.3B | $10.1B |
| Share premium account | $245.0M | $14.9B | $14.8B | $14.7B |
| Other equity instruments | $23.7B | $20.7B | $18.8B | $19.4B |
| Other reserves | ($3.4B) | ($1.6B) | ($14.9B) | ($9.9B) |
| Retained earnings | $167.6B | $149.7B | $155.3B | $149.9B |
| Total shareholders’ equity | $196.7B | $192.6B | $183.3B | $184.2B |
| Non-controlling interests | $399.0M | $7.3B | $7.1B | $7.5B |
| Total equity | $197.1B | $199.9B | $190.4B | $191.7B |
| Total liabilities and equity | $3.4T | $3.2T | $3.0T | $3.0T |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Profit before tax | $29.9B | $32.3B | $30.3B | $17.5B |
| Depreciation, amortisation and impairment | $4.9B | $4.1B | $3.5B | $3.9B |
| Net loss from investing activities | $2.6B | $180.0M | $1.2B | $11.0M |
| Share of profit in associates and joint ventures | ($2.9B) | ($2.9B) | ($2.8B) | ($2.7B) |
| Impairment of interest in associate | $1.0B | $0 | $3.0B | — |
| (Gain)/loss on acquisition/disposal of subsidiaries, businesses, associates and joint ventures | $93.0M | $1.7B | ($1.8B) | $2.6B |
| Change in expected credit losses gross of recoveries and other credit impairment charges | $4.2B | $3.7B | $3.7B | $3.9B |
| Provisions including pensions | $2.1B | $299.0M | $266.0M | $635.0M |
| Share-based payment expense | $621.0M | $529.0M | $482.0M | $400.0M |
| Other non-cash items included in profit before tax | ($4.7B) | ($5.3B) | ($4.3B) | ($1.1B) |
| Elimination of exchange differences | ($34.7B) | $26.7B | ($10.7B) | $49.1B |
| Change in net trading securities and derivatives | ($38.6B) | ($41.4B) | ($63.2B) | $20.2B |
| Change in loans and advances to banks and customers | ($74.1B) | $7.3B | ($14.1B) | $31.8B |
| Change in reverse repurchase agreements – non-trading | ($32.3B) | ($4.2B) | ($2.1B) | ($23.4B) |
| Change in financial assets designated and otherwise mandatorily measured at fair value | ($23.4B) | ($20.7B) | ($10.0B) | $8.3B |
| Change in other assets | ($38.4B) | $7.7B | ($10.3B) | ($10.8B) |
| Change in deposits by banks and customer accounts | $168.9B | $44.2B | $45.0B | ($91.2B) |
| Change in repurchase agreements – non-trading | $24.1B | $8.7B | $43.4B | $4.3B |
| Change in debt securities in issue | ($5.6B) | $11.9B | $11.9B | $12.5B |
| Change in financial liabilities designated at fair value | $46.1B | ($2.2B) | $10.1B | ($13.6B) |
| Change in other liabilities | $4.1B | ($1.6B) | $8.7B | $16.0B |
| Dividends received from associates | $1.0B | $1.1B | $1.1B | $944.0M |
| Contributions paid to defined benefit plans | ($147.0M) | ($167.0M) | ($208.0M) | ($194.0M) |
| Tax paid | ($5.1B) | ($6.6B) | ($4.1B) | ($2.8B) |
| Net cash from operating activities | $29.8B | $65.3B | $39.1B | $26.4B |
| Purchase of financial investments | ($502.4B) | ($523.5B) | ($563.6B) | ($520.6B) |
| Proceeds from the sale and maturity of financial investments | $470.3B | $453.5B | $504.2B | $495.0B |
| Net cash flows from the purchase and sale of property, plant and equipment | ($1.4B) | ($1.3B) | ($1.1B) | ($1.3B) |
| Net cash flows from disposal of loan portfolio and customer accounts | $0 | $0 | $623.0M | ($3.5B) |
| Net investment in intangible assets | ($3.2B) | ($2.5B) | ($2.5B) | ($3.1B) |
| Net cash inflow on acquisition/disposal of subsidiaries, businesses, associates and joint ventures | $1.1B | $9.9B | — | — |
| Net cash outflow on acquisition/disposal of subsidiaries, businesses, associates and joint ventures | ($1.5B) | ($12.6B) | — | — |
| Net cash from investing activities | ($37.1B) | ($76.6B) | ($62.9B) | ($34.5B) |
| Issue of ordinary share capital and other equity instruments | 4.1B | 3.6B | 2.0B | 0 |
| Share buy-backs | -9.1B | -11.3B | — | — |
| Net purchases of own shares for market-making and investment purposes | -1.1B | -541.0M | -614.0M | -91.0M |
| Net cash flow from change in stake of subsidiaries | ($154.0M) | $0 | ($19.0M) | ($197.0M) |
| Redemption of preference shares and other equity instruments | -2.5B | -3.4B | -4.0B | -2.3B |
| Subordinated loan capital issued | $3.8B | $4.4B | $5.2B | $7.3B |
| Subordinated loan capital repaid | ($3.6B) | ($2.0B) | ($2.1B) | ($1.8B) |
| Dividends paid to shareholders of the parent company and non-controlling interests | ($13.5B) | ($17.1B) | ($12.2B) | ($7.0B) |
| Net cash from financing activities | ($22.0B) | ($26.5B) | ($17.6B) | ($6.3B) |
| Net decrease in cash and cash equivalents | ($29.3B) | ($37.7B) | ($41.4B) | ($14.3B) |
| Cash and cash equivalents at 1 Jan | $434.9B | $490.9B | $521.7B | $574.0B |
| Exchange differences in respect of cash and cash equivalents | $27.2B | ($18.3B) | $10.6B | ($38.0B) |
| Line item | Jun 30, 2026 · YTD | Jun 30, 2025 · YTD | Jun 30, 2024 · YTD | Jun 30, 2023 · YTD |
|---|---|---|---|---|
| Profit before tax | $19.5B | $15.8B | $21.6B | $21.7B |
| Depreciation, amortisation and impairment | $2.5B | $2.2B | $2.0B | $1.6B |
| Net loss/(gain) from investing activities | ($239.0M) | $1.1B | ($34.0M) | ($41.0M) |
| Share of profit in associates and joint ventures | ($1.6B) | ($1.7B) | ($1.6B) | ($1.6B) |
| Impairment of interest in associate | $0 | $1.0B | — | — |
| Net loss on acquisition/disposal of subsidiaries, businesses, associates and joint ventures | $355.0M | $73.0M | ($3.2B) | $3.6B |
| Change in expected credit losses gross of recoveries and other credit impairment charges | $2.5B | $2.1B | $1.2B | $1.5B |
| Provisions including pensions | $175.0M | $584.0M | $15.0M | $148.0M |
| Share-based payment expense | $319.0M | $315.0M | $274.0M | $228.0M |
| Other non-cash items included in profit before tax | ($1.4B) | ($2.7B) | ($4.2B) | ($1.7B) |
| Elimination of exchange differences | $8.4B | ($41.7B) | $18.4B | ($6.6B) |
| Change in loans, deposits and other operating assets and liabilities | $54.7B | — | — | — |
| Dividends received from associates | $222.0M | $850.0M | $130.0M | $124.0M |
| Contributions paid to defined benefit plans | ($96.0M) | ($67.0M) | ($76.0M) | ($87.0M) |
| Tax paid | ($3.6B) | ($2.2B) | ($2.7B) | ($1.7B) |
| Net cash from operating activities | $81.8B | $13.2B | $26.7B | $30.1B |
| Purchase of financial investments | ($262.8B) | ($266.9B) | ($260.0B) | ($298.2B) |
| Proceeds from the sale and maturity of financial investments | $204.1B | $232.4B | $223.4B | $263.8B |
| Net cash flows from the purchase and sale of property, plant and equipment | ($1.0B) | ($504.0M) | ($464.0M) | ($329.0M) |
| Net investment in intangible assets | ($1.4B) | ($1.3B) | ($1.1B) | ($1.1B) |
| Net cash inflow on acquisition/disposal of subsidiaries, businesses, associates and joint ventures | $390.0M | $0 | $9.9B | — |
| Net cash outflow on acquisition/disposal of subsidiaries, businesses, associates and joint ventures | ($2.7B) | ($29.0M) | ($10.6B) | — |
| Net cash from investing activities | ($63.4B) | ($36.4B) | ($38.8B) | ($34.6B) |
| Issue of ordinary share capital and other equity instruments | 4.0B | 4.1B | 1.1B | 2.0B |
| Share buy-backs | 0 | -5.4B | -5.3B | -1.3B |
| Net sales/(purchases) of own shares for market-making and investment purposes | -750.0M | -1.1B | -494.0M | -823.0M |
| Net cash flow from change in stakes of subsidiaries | ($13.6B) | — | — | $0 |
| Redemption of preference shares and other equity instruments | -1.0B | -2.5B | 0 | -2.4B |
| Subordinated loan capital issued | $0 | $2.3B | $2.6B | $2.7B |
| Subordinated loan capital repaid | $0 | ($2.0B) | ($2.0B) | ($1.0B) |
| Dividends paid to shareholders of the parent company and non-controlling interests | ($10.1B) | ($9.2B) | ($12.7B) | ($7.5B) |
| Net cash from financing activities | ($21.5B) | ($13.7B) | ($16.8B) | ($8.3B) |
| Net decrease in cash and cash equivalents | ($3.2B) | ($36.9B) | ($28.9B) | ($12.7B) |
| Cash and cash equivalents at the beginning of the period | $432.9B | $434.9B | $490.9B | $521.7B |
| Exchange differences in respect of cash and cash equivalents | ($5.5B) | $30.9B | ($13.1B) | $8.6B |
| Cash and cash equivalents at the end of the period | $424.3B | $428.9B | $449.0B | $517.5B |
HSBC HOLDINGS PLC score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.