HSBC vs TD: HSBC Holdings PLC ADR and Toronto Dominion Bank compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- HSBC Holdings PLC ADR is the larger company, worth $311.3B, about 1.6 times Toronto Dominion Bank.
- Toronto Dominion Bank grew revenue faster over the last year (+18.1% vs +3.7%).
- On earnings, Toronto Dominion Bank is the cheaper stock (13.2x 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 | TD |
|---|---|---|
| Market cap | $311.3B | $198.5B |
| Share price | $92.98 | $115.10 |
| Revenue (last fiscal year) | $68.3B | $67.8B |
| Free cash flow (last fiscal year) | $25.1B | — |
| Revenue growth, last year | +3.7% | +18.1% |
| Revenue growth per year, last 5 fiscal years | +8.3% | +12.2% |
| Operating margin | 41.0% | — |
| Net margin | 33.9% | 31.0% |
| Return on equity | 11.7% | 17.4% |
| P/E (trailing) | 77.5x | 13.2x |
| Price / free cash flow | 12.4x | — |
| EV / EBITDA | — | — |
| FCF growth the price implies | -1.3% | — |
| Dividend yield | 0.81% | 3.6% |
| Debt / equity | 15.3x | 15.7x |
| Fundamental grade | C | C |
| Superinvestors holding it | 0 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
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% |
Toronto Dominion Bank
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $42.7B | — | — |
| 2022 | $49.0B | — | — |
| 2023 | $50.7B | — | — |
| 2024 | $57.2B | — | — |
| 2025 | $67.8B | — | — |
Where the revenue comes from
HSBC Holdings PLC ADR
No segment breakdown reported.
Toronto Dominion Bank · by segments, 2025
Canadian Personal And Commercial Banking$20.7B31%
Wealth Management And Insurance$14.6B21%
US Retail$12.3B18%
Corporate$11.8B17%
Wholesale Banking$8.4B12%
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 Toronto Dominion Bank?
HSBC Holdings PLC ADR (HSBC), at $311.3B against $198.5B.
Is HSBC or TD cheaper?
By trailing P/E, Toronto Dominion Bank (13.2x) 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 TD?
Toronto Dominion Bank: revenue grew +18.1% 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.