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Side-by-side financial comparison of HP Inc. (HPQ) 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 $14.6B, roughly 2.0× HP Inc.). HSBC HOLDINGS PLC runs the higher net margin — 25.7% vs 5.4%, a 20.2% gap on every dollar of revenue. HSBC HOLDINGS PLC produced more free cash flow last quarter ($64.0B vs $1.4B).
The Hewlett-Packard Company, commonly shortened to Hewlett-Packard or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California. Growing to become an influential high-tech powerhouse at the heart of Silicon Valley, the company was known for its progressive business philosophy, deemed the HP Way.
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.
HPQ vs HSBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $14.6B | $28.6B |
| Net Profit | $795.0M | $7.3B |
| Gross Margin | 20.2% | — |
| Operating Margin | 6.6% | 33.1% |
| Net Margin | 5.4% | 25.7% |
| Revenue YoY | 4.2% | — |
| Net Profit YoY | -12.3% | — |
| EPS (diluted) | $0.84 | $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 | $14.6B | — | ||
| Q3 25 | $13.9B | — | ||
| Q2 25 | $13.2B | — | ||
| Q1 25 | $13.5B | $28.6B | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | $13.5B | — | ||
| Q2 24 | $12.8B | — | ||
| Q1 24 | $13.2B | — |
| Q4 25 | $795.0M | — | ||
| Q3 25 | $763.0M | — | ||
| Q2 25 | $406.0M | — | ||
| Q1 25 | $565.0M | $7.3B | ||
| Q4 24 | $906.0M | — | ||
| Q3 24 | $640.0M | — | ||
| Q2 24 | $607.0M | — | ||
| Q1 24 | $622.0M | — |
| Q4 25 | 20.2% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | 23.6% | — | ||
| Q1 24 | 21.9% | — |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | 6.3% | 33.1% | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 7.0% | — | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 7.1% | — |
| Q4 25 | 5.4% | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 4.2% | 25.7% | ||
| Q4 24 | 6.4% | — | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 4.7% | — |
| Q4 25 | $0.84 | — | ||
| Q3 25 | $0.80 | — | ||
| Q2 25 | $0.42 | — | ||
| Q1 25 | $0.59 | $0.36 | ||
| Q4 24 | $0.93 | — | ||
| Q3 24 | $0.65 | — | ||
| Q2 24 | $0.61 | — | ||
| Q1 24 | $0.62 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.7B | $434.9B |
| Total DebtLower is stronger | $9.7B | — |
| Stockholders' EquityBook value | $-346.0M | $192.3B |
| Total Assets | $41.8B | $3017.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.9B | $434.9B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.3B | — |
| Q4 25 | $9.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $9.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-346.0M | — | ||
| Q3 25 | $-901.0M | — | ||
| Q2 25 | $-1.3B | — | ||
| Q1 25 | $-1.1B | $192.3B | ||
| Q4 24 | $-1.3B | — | ||
| Q3 24 | $-1.4B | — | ||
| Q2 24 | $-916.0M | — | ||
| Q1 24 | $-1.6B | — |
| Q4 25 | $41.8B | — | ||
| Q3 25 | $39.9B | — | ||
| Q2 25 | $38.8B | — | ||
| Q1 25 | $38.9B | $3017.0B | ||
| Q4 24 | $39.9B | — | ||
| Q3 24 | $38.1B | — | ||
| Q2 24 | $37.4B | — | ||
| Q1 24 | $35.8B | — |
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 | $1.6B | $65.3B |
| Free Cash FlowOCF − Capex | $1.4B | $64.0B |
| FCF MarginFCF / Revenue | 9.7% | 223.9% |
| Capex IntensityCapex / Revenue | 1.3% | 4.7% |
| Cash ConversionOCF / Net Profit | 2.04× | 8.90× |
| TTM Free Cash FlowTrailing 4 quarters | $2.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $374.0M | $65.3B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $581.0M | — | ||
| Q1 24 | $121.0M | — |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $-145.0M | — | ||
| Q1 25 | $72.0M | $64.0B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $462.0M | — | ||
| Q1 24 | $-37.0M | — |
| Q4 25 | 9.7% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | -1.1% | — | ||
| Q1 25 | 0.5% | 223.9% | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 9.3% | — | ||
| Q2 24 | 3.6% | — | ||
| Q1 24 | -0.3% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 2.2% | 4.7% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 1.2% | — |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 2.18× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 0.66× | 8.90× | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | 2.23× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.19× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HPQ
| Commercial PS | $7.0B | 48% |
| Consumer PS | $3.4B | 23% |
| Supplies | $2.8B | 19% |
| Commercial Printing | $1.2B | 8% |
| Consumer Printing | $296.0M | 2% |
| Corporate Investments | $19.0M | 0% |
HSBC
Segment breakdown not available.
