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Side-by-side financial comparison of HSBC HOLDINGS PLC (HSBC) and PBF Energy Inc. (PBF). Click either name above to swap in a different company.
HSBC HOLDINGS PLC is the larger business by last-quarter revenue ($28.6B vs $7.9B, roughly 3.6× PBF Energy Inc.). HSBC HOLDINGS PLC runs the higher net margin — 25.7% vs 2.5%, a 23.1% gap on every dollar of revenue.
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.
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diese...
HSBC vs PBF — Head-to-Head
Income Statement — Q4 FY2024 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.6B | $7.9B |
| Net Profit | $7.3B | $200.2M |
| Gross Margin | — | 3.5% |
| Operating Margin | 33.1% | 3.8% |
| Net Margin | 25.7% | 2.5% |
| Revenue YoY | — | 11.9% |
| Net Profit YoY | — | 149.4% |
| EPS (diluted) | $0.36 | $1.65 |
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.
| Q1 26 | — | $7.9B | ||
| Q4 25 | — | $7.1B | ||
| Q3 25 | — | $7.7B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | $28.6B | $7.1B | ||
| Q4 24 | — | $7.4B | ||
| Q3 24 | — | $8.4B | ||
| Q2 24 | — | $8.7B |
| Q1 26 | — | $200.2M | ||
| Q4 25 | — | $78.4M | ||
| Q3 25 | — | $170.1M | ||
| Q2 25 | — | $-5.2M | ||
| Q1 25 | $7.3B | $-401.8M | ||
| Q4 24 | — | $-289.3M | ||
| Q3 24 | — | $-285.9M | ||
| Q2 24 | — | $-65.2M |
| Q1 26 | — | 3.5% | ||
| Q4 25 | — | -1.8% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | -0.8% | ||
| Q1 25 | — | -5.9% | ||
| Q4 24 | — | -4.2% | ||
| Q3 24 | — | -3.4% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | — | 3.8% | ||
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | 33.1% | -7.2% | ||
| Q4 24 | — | -5.2% | ||
| Q3 24 | — | -4.6% | ||
| Q2 24 | — | -0.9% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | -0.1% | ||
| Q1 25 | 25.7% | -5.7% | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | — | -3.4% | ||
| Q2 24 | — | -0.7% |
| Q1 26 | — | $1.65 | ||
| Q4 25 | — | $0.74 | ||
| Q3 25 | — | $1.45 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | $0.36 | $-3.53 | ||
| Q4 24 | — | $-2.41 | ||
| Q3 24 | — | $-2.49 | ||
| Q2 24 | — | $-0.56 |
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 | $541.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $192.3B | $5.7B |
| Total Assets | $3017.0B | $14.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $541.8M | ||
| Q4 25 | — | $527.9M | ||
| Q3 25 | — | $482.0M | ||
| Q2 25 | — | $590.7M | ||
| Q1 25 | $434.9B | $468.6M | ||
| Q4 24 | — | $536.1M | ||
| Q3 24 | — | $976.7M | ||
| Q2 24 | — | $1.4B |
| Q1 26 | — | $5.7B | ||
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | $192.3B | $5.1B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $6.3B |
| Q1 26 | — | $14.7B | ||
| Q4 25 | — | $13.0B | ||
| Q3 25 | — | $13.0B | ||
| Q2 25 | — | $13.0B | ||
| Q1 25 | $3017.0B | $13.0B | ||
| Q4 24 | — | $12.7B | ||
| Q3 24 | — | $13.1B | ||
| Q2 24 | — | $14.1B |
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 | $65.3B | — |
| Free Cash FlowOCF − Capex | $64.0B | — |
| FCF MarginFCF / Revenue | 223.9% | — |
| Capex IntensityCapex / Revenue | 4.7% | 4.0% |
| Cash ConversionOCF / Net Profit | 8.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $366.6M | ||
| Q3 25 | — | $25.7M | ||
| Q2 25 | — | $191.1M | ||
| Q1 25 | $65.3B | $-661.4M | ||
| Q4 24 | — | $-329.7M | ||
| Q3 24 | — | $-68.0M | ||
| Q2 24 | — | $425.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $77.0M | ||
| Q3 25 | — | $-122.8M | ||
| Q2 25 | — | $35.0M | ||
| Q1 25 | $64.0B | $-772.4M | ||
| Q4 24 | — | $-425.7M | ||
| Q3 24 | — | $-169.8M | ||
| Q2 24 | — | $371.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | 223.9% | -10.9% | ||
| Q4 24 | — | -5.8% | ||
| Q3 24 | — | -2.0% | ||
| Q2 24 | — | 4.3% |
| Q1 26 | — | 4.0% | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | 4.7% | 1.6% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.68× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | — | ||
| Q1 25 | 8.90× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
