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Side-by-side financial comparison of HSBC HOLDINGS PLC (HSBC) and RIO TINTO PLC (RIO). Click either name above to swap in a different company.
RIO TINTO PLC is the larger business by last-quarter revenue ($30.8B vs $28.6B, roughly 1.1× HSBC HOLDINGS PLC). HSBC HOLDINGS PLC runs the higher net margin — 25.7% vs 18.6%, a 7.1% gap on every dollar of revenue. HSBC HOLDINGS PLC produced more free cash flow last quarter ($64.0B vs $2.3B).
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.
Rio Tinto Group is a British-Australian multinational mining company headquartered in London, England, and Melbourne, Australia. It was founded in 1873 when a group of British investors purchased a mine complex on the Río Tinto, in Huelva, Spain, from the Spanish government. It has grown through a long series of mergers and acquisitions and is today a major producer of commodities such as copper, iron ore, aluminium and lithium.
HSBC vs RIO — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.6B | $30.8B |
| Net Profit | $7.3B | $5.7B |
| Gross Margin | — | — |
| Operating Margin | 33.1% | 25.9% |
| Net Margin | 25.7% | 18.6% |
| Revenue YoY | — | 14.6% |
| Net Profit YoY | — | 0.5% |
| EPS (diluted) | $0.36 | $3.32 |
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 | — | $30.8B | ||
| Q1 25 | $28.6B | — | ||
| Q4 24 | — | $26.9B | ||
| Q4 23 | — | $27.4B | ||
| Q4 22 | — | $25.8B |
| Q4 25 | — | $5.7B | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | — | $5.7B | ||
| Q4 23 | — | $5.0B | ||
| Q4 22 | — | $3.6B |
| Q4 25 | — | 25.9% | ||
| Q1 25 | 33.1% | — | ||
| Q4 24 | — | 27.5% | ||
| Q4 23 | — | 27.7% | ||
| Q4 22 | — | 30.0% |
| Q4 25 | — | 18.6% | ||
| Q1 25 | 25.7% | — | ||
| Q4 24 | — | 21.2% | ||
| Q4 23 | — | 18.3% | ||
| Q4 22 | — | 14.0% |
| Q4 25 | — | $3.32 | ||
| Q1 25 | $0.36 | — | ||
| Q4 24 | — | $3.51 | ||
| Q4 23 | — | $3.03 | ||
| Q4 22 | — | $2.11 |
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 | $9.4B |
| Total DebtLower is stronger | — | $21.9B |
| Stockholders' EquityBook value | $192.3B | $67.0B |
| Total Assets | $3017.0B | $128.1B |
| Debt / EquityLower = less leverage | — | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $9.4B | ||
| Q1 25 | $434.9B | — | ||
| Q4 24 | — | $8.8B | ||
| Q4 23 | — | $10.7B | ||
| Q4 22 | — | $8.8B |
| Q4 25 | — | $21.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $12.4B | ||
| Q4 23 | — | $13.0B | ||
| Q4 22 | — | $11.1B |
| Q4 25 | — | $67.0B | ||
| Q1 25 | $192.3B | — | ||
| Q4 24 | — | $58.0B | ||
| Q4 23 | — | $56.3B | ||
| Q4 22 | — | $52.7B |
| Q4 25 | — | $128.1B | ||
| Q1 25 | $3017.0B | — | ||
| Q4 24 | — | $102.8B | ||
| Q4 23 | — | $103.5B | ||
| Q4 22 | — | $96.8B |
| Q4 25 | — | 0.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.21× | ||
| Q4 23 | — | 0.23× | ||
| Q4 22 | — | 0.21× |
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 | $9.9B |
| Free Cash FlowOCF − Capex | $64.0B | $2.3B |
| FCF MarginFCF / Revenue | 223.9% | 7.5% |
| Capex IntensityCapex / Revenue | 4.7% | 24.7% |
| Cash ConversionOCF / Net Profit | 8.90× | 1.73× |
| TTM Free Cash FlowTrailing 4 quarters | — | $11.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $9.9B | ||
| Q1 25 | $65.3B | — | ||
| Q4 24 | — | $8.5B | ||
| Q4 23 | — | $8.2B | ||
| Q4 22 | — | $5.7B |
| Q4 25 | — | $2.3B | ||
| Q1 25 | $64.0B | — | ||
| Q4 24 | — | $2.9B | ||
| Q4 23 | — | $4.1B | ||
| Q4 22 | — | $2.1B |
| Q4 25 | — | 7.5% | ||
| Q1 25 | 223.9% | — | ||
| Q4 24 | — | 10.9% | ||
| Q4 23 | — | 15.0% | ||
| Q4 22 | — | 8.0% |
| Q4 25 | — | 24.7% | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | — | 20.9% | ||
| Q4 23 | — | 14.9% | ||
| Q4 22 | — | 14.0% |
| Q4 25 | — | 1.73× | ||
| Q1 25 | 8.90× | — | ||
| Q4 24 | — | 1.50× | ||
| Q4 23 | — | 1.64× | ||
| Q4 22 | — | 1.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
