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Side-by-side financial comparison of Axos Financial, Inc. (AX) and HSBC HOLDINGS PLC (HSBC). Click either name above to swap in a different company.
HSBC HOLDINGS PLC is the larger business by last-quarter revenue ($28.6B vs $331.7M, roughly 86.1× Axos Financial, Inc.). Axos Financial, Inc. runs the higher net margin — 38.7% vs 25.7%, a 13.0% gap on every dollar of revenue. HSBC HOLDINGS PLC produced more free cash flow last quarter ($64.0B vs $85.4M).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$3.098 trillion as of September 2024. This also puts it as the 7th largest bank in the world by total assets behind Bank of America, and the 3rd largest non-state owned bank in the world.
AX vs HSBC — Head-to-Head
Income Statement — Q2 2026 vs Q4 2024
| Metric | | |
|---|---|---|
| Revenue | $331.7M | $28.6B |
| Net Profit | $128.4M | $7.3B |
| Gross Margin | — | — |
| Operating Margin | 52.9% | 33.1% |
| Net Margin | 38.7% | 25.7% |
| Revenue YoY | 18.4% | — |
| Net Profit YoY | 22.6% | — |
| EPS (diluted) | $2.22 | $0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $331.7M | — | ||
| Q3 25 | $291.1M | — | ||
| Q1 25 | — | $28.6B |
| Q4 25 | $128.4M | — | ||
| Q3 25 | $112.4M | — | ||
| Q1 25 | — | $7.3B |
| Q4 25 | 52.9% | — | ||
| Q3 25 | 51.5% | — | ||
| Q1 25 | — | 33.1% |
| Q4 25 | 38.7% | — | ||
| Q3 25 | 38.6% | — | ||
| Q1 25 | — | 25.7% |
| Q4 25 | $2.22 | — | ||
| Q3 25 | $1.94 | — | ||
| Q1 25 | — | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $434.9B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.9B | $192.3B |
| Total Assets | $28.2B | $3017.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | — | ||
| Q3 25 | $2.6B | — | ||
| Q1 25 | — | $434.9B |
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.8B | — | ||
| Q1 25 | — | $192.3B |
| Q4 25 | $28.2B | — | ||
| Q3 25 | $27.4B | — | ||
| Q1 25 | — | $3017.0B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $104.1M | $65.3B |
| Free Cash FlowOCF − Capex | $85.4M | $64.0B |
| FCF MarginFCF / Revenue | 25.8% | 223.9% |
| Capex IntensityCapex / Revenue | 5.6% | 4.7% |
| Cash ConversionOCF / Net Profit | 0.81× | 8.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.1M | — | ||
| Q3 25 | $118.4M | — | ||
| Q1 25 | — | $65.3B |
| Q4 25 | $85.4M | — | ||
| Q3 25 | $109.3M | — | ||
| Q1 25 | — | $64.0B |
| Q4 25 | 25.8% | — | ||
| Q3 25 | 37.5% | — | ||
| Q1 25 | — | 223.9% |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 3.1% | — | ||
| Q1 25 | — | 4.7% |
| Q4 25 | 0.81× | — | ||
| Q3 25 | 1.05× | — | ||
| Q1 25 | — | 8.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
