HSBC vs JPM: HSBC Holdings PLC ADR and JPMorgan Chase & compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- JPMorgan Chase & is the larger company, worth $878.7B, about 2.8 times HSBC Holdings PLC ADR.
- JPMorgan Chase & grew revenue faster over the last year (+27.7% vs +3.7%).
- On earnings, JPMorgan Chase & is the cheaper stock (15.7x vs 77.5x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HSBC | JPM |
|---|---|---|
| Market cap | $311.3B | $878.7B |
| Share price | $92.98 | $332.99 |
| Revenue (last fiscal year) | $68.3B | $182.4B |
| Free cash flow (last fiscal year) | $25.1B | — |
| Revenue growth, last year | +3.7% | +27.7% |
| Revenue growth per year, last 5 fiscal years | +8.3% | +10.7% |
| Operating margin | 41.0% | — |
| Net margin | 33.9% | 32.6% |
| Return on equity | 11.7% | 17.4% |
| P/E (trailing) | 77.5x | 15.7x |
| Price / free cash flow | 12.4x | 8.72x |
| EV / EBITDA | — | 6.84x |
| FCF growth the price implies | -1.3% | — |
| Dividend yield | 0.81% | 1.8% |
| Debt / equity | 15.3x | 12.4x |
| Fundamental grade | C | B |
| Superinvestors holding it | 0 | 22 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
HSBC Holdings PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $49.6B | $100.7B | 32.0% |
| 2022 | $50.6B | $14.9B | 28.3% |
| 2023 | $66.1B | $35.4B | 46.2% |
| 2024 | $65.9B | $61.4B | 44.6% |
| 2025 | $68.3B | $25.1B | 41.0% |
JPMorgan Chase &
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $121.6B | — | — |
| 2022 | $128.7B | — | — |
| 2023 | $158.1B | — | — |
| 2024 | $177.6B | — | — |
| 2025 | $182.4B | — | — |
Where the revenue comes from
HSBC Holdings PLC ADR
No segment breakdown reported.
JPMorgan Chase & · by segments, 2025
Commercial & Investment Bank$78.5B44%
Consumer & Community Banking$76.0B43%
Asset & Wealth Management$24.1B13%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HSBC in InvestinglyQuestions
Which is bigger, HSBC Holdings PLC ADR or JPMorgan Chase &?
JPMorgan Chase & (JPM), at $878.7B against $311.3B.
Is HSBC or JPM cheaper?
By trailing P/E, JPMorgan Chase & (15.7x) is cheaper than HSBC Holdings PLC ADR (77.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, HSBC or JPM?
JPMorgan Chase &: revenue grew +27.7% over the last year, against +3.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.