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Side-by-side financial comparison of Alibaba Group Holding Ltd (BABA) and HSBC HOLDINGS PLC (HSBC). Click either name above to swap in a different company.
Alibaba Group Holding Ltd is the larger business by last-quarter revenue ($38.8B vs $28.6B, roughly 1.4× HSBC HOLDINGS PLC). HSBC HOLDINGS PLC runs the higher net margin — 25.7% vs 5.8%, a 19.9% gap on every dollar of revenue.
Alibaba Group Holding Limited, branded as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via Chinese and global marketplaces, as well as local consumer, digital media and entertainment, logistics, and cloud computing services. It owns and operates a diverse...
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.
BABA vs HSBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $38.8B | $28.6B |
| Net Profit | $2.2B | $7.3B |
| Gross Margin | 40.2% | — |
| Operating Margin | 6.6% | 33.1% |
| Net Margin | 5.8% | 25.7% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $6.64 | $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 | $38.8B | — | ||
| Q3 25 | $34.2B | — | ||
| Q2 25 | $32.6B | — | ||
| Q1 25 | — | $28.6B | ||
| Q4 24 | $38.7B | — |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | $6.8B | — |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 39.2% | — | ||
| Q2 25 | 38.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 42.0% | — |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 12.0% | — | ||
| Q1 25 | — | 33.1% | ||
| Q4 24 | 14.7% | — |
| Q4 25 | 5.8% | — | ||
| Q3 25 | 8.5% | — | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | — | 25.7% | ||
| Q4 24 | 17.5% | — |
| Q4 25 | $6.64 | — | ||
| Q3 25 | $8.72 | — | ||
| Q2 25 | $5.20 | — | ||
| Q1 25 | — | $0.36 | ||
| Q4 24 | $20.40 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.3B | $434.9B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $148.7B | $192.3B |
| Total Assets | $268.6B | $3017.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3B | — | ||
| Q3 25 | $19.0B | — | ||
| Q2 25 | $20.0B | — | ||
| Q1 25 | — | $434.9B | ||
| Q4 24 | $22.3B | — |
| Q4 25 | $148.7B | — | ||
| Q3 25 | $145.0B | — | ||
| Q2 25 | $139.2B | — | ||
| Q1 25 | — | $192.3B | ||
| Q4 24 | $137.2B | — |
| Q4 25 | $268.6B | — | ||
| Q3 25 | $264.6B | — | ||
| Q2 25 | $248.6B | — | ||
| Q1 25 | — | $3017.0B | ||
| Q4 24 | $254.1B | — |
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 | $5.2B | $65.3B |
| Free Cash FlowOCF − Capex | — | $64.0B |
| FCF MarginFCF / Revenue | — | 223.9% |
| Capex IntensityCapex / Revenue | — | 4.7% |
| Cash ConversionOCF / Net Profit | 2.31× | 8.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.2B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | — | $65.3B | ||
| Q4 24 | $9.7B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $64.0B | ||
| Q4 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 223.9% | ||
| Q4 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | — |
| Q4 25 | 2.31× | — | ||
| Q3 25 | 0.49× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | — | 8.90× | ||
| Q4 24 | 1.43× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
HSBC
Segment breakdown not available.
