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Side-by-side financial comparison of HSBC HOLDINGS PLC (HSBC) and Kroger (KR). Click either name above to swap in a different company.
Kroger is the larger business by last-quarter revenue ($33.9B vs $28.6B, roughly 1.2× HSBC HOLDINGS PLC). HSBC HOLDINGS PLC runs the higher net margin — 25.7% vs -3.9%, a 29.6% gap on every dollar of revenue. HSBC HOLDINGS PLC produced more free cash flow last quarter ($64.0B vs $29.0M).
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.
The Kroger Co., or simply Kroger, is an American retail corporation headquartered in Cincinnati, Ohio. It operates supermarkets and multi-department stores throughout the United States.
HSBC vs KR — Head-to-Head
Income Statement — Q4 FY2024 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.6B | $33.9B |
| Net Profit | $7.3B | $-1.3B |
| Gross Margin | — | — |
| Operating Margin | 33.1% | -4.6% |
| Net Margin | 25.7% | -3.9% |
| Revenue YoY | — | 0.7% |
| Net Profit YoY | — | -313.6% |
| EPS (diluted) | $0.36 | $-2.02 |
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 | — | $33.9B | ||
| Q3 25 | — | $33.9B | ||
| Q2 25 | — | $45.1B | ||
| Q1 25 | $28.6B | $34.3B |
| Q4 25 | — | $-1.3B | ||
| Q3 25 | — | $609.0M | ||
| Q2 25 | — | $866.0M | ||
| Q1 25 | $7.3B | $634.0M |
| Q4 25 | — | -4.6% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | 33.1% | 2.7% |
| Q4 25 | — | -3.9% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | 25.7% | 1.8% |
| Q4 25 | — | $-2.02 | ||
| Q3 25 | — | $0.91 | ||
| Q2 25 | — | $1.29 | ||
| Q1 25 | $0.36 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $434.9B | $4.0B |
| Total DebtLower is stronger | — | $16.0B |
| Stockholders' EquityBook value | $192.3B | $7.0B |
| Total Assets | $3017.0B | $51.4B |
| Debt / EquityLower = less leverage | — | 2.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.0B | ||
| Q3 25 | — | $4.9B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | $434.9B | $4.0B |
| Q4 25 | — | $16.0B | ||
| Q3 25 | — | $15.9B | ||
| Q2 25 | — | $15.9B | ||
| Q1 25 | — | $15.9B |
| Q4 25 | — | $7.0B | ||
| Q3 25 | — | $9.3B | ||
| Q2 25 | — | $8.9B | ||
| Q1 25 | $192.3B | $8.3B |
| Q4 25 | — | $51.4B | ||
| Q3 25 | — | $53.6B | ||
| Q2 25 | — | $53.2B | ||
| Q1 25 | $3017.0B | $52.6B |
| Q4 25 | — | 2.27× | ||
| Q3 25 | — | 1.72× | ||
| Q2 25 | — | 1.79× | ||
| Q1 25 | — | 1.92× |
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 | $65.3B | $970.0M |
| Free Cash FlowOCF − Capex | $64.0B | $29.0M |
| FCF MarginFCF / Revenue | 223.9% | 0.1% |
| Capex IntensityCapex / Revenue | 4.7% | 2.8% |
| Cash ConversionOCF / Net Profit | 8.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $970.0M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | $65.3B | $1.4B |
| Q4 25 | — | $29.0M | ||
| Q3 25 | — | $615.0M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | $64.0B | $520.0M |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | 223.9% | 1.5% |
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | 4.7% | 2.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.53× | ||
| Q2 25 | — | 2.48× | ||
| Q1 25 | 8.90× | 2.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
