HSBC Holdings plc (HBCN) - Net Assets

Latest as of September 2025: MX$198.69 Billion MXN ≈ $11.43 Billion USD

Based on the latest financial reports, HSBC Holdings plc (HBCN) has net assets worth MX$198.69 Billion MXN (≈ $11.43 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (MX$3.23 Trillion ≈ $186.13 Billion USD) and total liabilities (MX$3.04 Trillion ≈ $174.70 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check HBCN tangible net assets ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	MX$198.69 Billion
% of Total Assets	6.14%
Annual Growth Rate	0.09%
5-Year Change	-6.21%
10-Year Change	-2.66%
Growth Volatility	4.57

HSBC Holdings plc - Net Assets Trend (2013–2024)

This chart illustrates how HSBC Holdings plc's net assets have evolved over time, based on quarterly financial data. See HBCN defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for HSBC Holdings plc (2013–2024)

The table below shows the annual net assets of HSBC Holdings plc from 2013 to 2024. For live valuation and market cap data, see market value of HSBC Holdings plc.

Year	Net Assets	Change
2024-12-31	MX$192.27 Billion ≈ $11.07 Billion	-0.17%
2023-12-31	MX$192.61 Billion ≈ $11.08 Billion	-1.74%
2022-12-31	MX$196.03 Billion ≈ $11.28 Billion	-5.20%
2021-12-31	MX$206.78 Billion ≈ $11.90 Billion	+0.87%
2020-12-31	MX$205.00 Billion ≈ $11.80 Billion	+6.40%
2019-12-31	MX$192.67 Billion ≈ $11.09 Billion	-0.81%
2018-12-31	MX$194.25 Billion ≈ $11.18 Billion	-1.83%
2017-12-31	MX$197.87 Billion ≈ $11.39 Billion	+8.38%
2016-12-31	MX$182.58 Billion ≈ $10.51 Billion	-7.56%
2015-12-31	MX$197.52 Billion ≈ $11.37 Billion	-1.23%
2014-12-31	MX$199.98 Billion ≈ $11.51 Billion	+5.00%
2013-12-31	MX$190.46 Billion ≈ $10.96 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to HSBC Holdings plc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 19.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	MX$152.40 Billion	82.39%
Other Components	MX$32.57 Billion	17.61%
Total Equity	MX$184.97 Billion	100.00%

HSBC Holdings plc Competitors by Market Cap

The table below lists competitors of HSBC Holdings plc ranked by their market capitalization.

Company	Market Cap
Palantir Technologies Inc. Class A Common Stock NYSE:PLTR	$324.25 Billion
Palantir Technologies Inc. NASDAQ:PLTR	$325.35 Billion
Procter & Gamble Company NYSE:PG	$328.97 Billion
The Coca-Cola Company NYSE:KO	$330.52 Billion
GE Aerospace NYSE:GE	$314.25 Billion
Cisco Systems Inc NASDAQ:CSCO	$309.49 Billion
The Home Depot Inc NYSE:HD	$308.56 Billion
Morgan Stanley NYSE:MS	$304.56 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in HSBC Holdings plc's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 185,329,000,000 to 184,973,000,000, a change of -356,000,000 (-0.2%).
Net income of 23,979,000,000 contributed positively to equity growth.
Dividend payments of 17,100,000,000 reduced retained earnings.
Share repurchases of 15,322,000,000 reduced equity.
New share issuances of 3,602,000,000 increased equity.
Other factors increased equity by 4,485,000,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	MX$23.98 Billion	+12.96%
Dividends Paid	MX$17.10 Billion	-9.24%
Share Repurchases	MX$15.32 Billion	-8.28%
Share Issuances	MX$3.60 Billion	+1.95%
Other Changes	MX$4.49 Billion	+2.42%
Total Change	MX$-	-0.19%

Book Value vs Market Value Analysis

This analysis compares HSBC Holdings plc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 154.75x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 170.47x to 154.75x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	MX$9.36	MX$1596.00	x
2018-12-31	MX$9.30	MX$1596.00	x
2019-12-31	MX$8.91	MX$1596.00	x
2020-12-31	MX$9.49	MX$1596.00	x
2021-12-31	MX$9.61	MX$1596.00	x
2022-12-31	MX$9.39	MX$1596.00	x
2023-12-31	MX$9.63	MX$1596.00	x
2024-12-31	MX$10.31	MX$1596.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently HSBC Holdings plc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 12.96%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 35.58%
• Asset Turnover: 0.02x
• Equity Multiplier: 16.31x
Recent ROE (12.96%) is above the historical average (7.25%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	9.21%	27.61%	0.02x	15.18x	MX$-1.40 Billion
2014	7.65%	23.90%	0.02x	14.72x	MX$-4.20 Billion
2015	7.80%	24.14%	0.02x	13.90x	MX$-3.81 Billion
2016	1.41%	4.08%	0.03x	13.54x	MX$-15.06 Billion
2017	5.68%	17.02%	0.03x	13.26x	MX$-8.23 Billion
2018	7.37%	21.59%	0.02x	13.73x	MX$-4.90 Billion
2019	4.01%	10.85%	0.03x	14.76x	MX$-11.01 Billion
2020	2.66%	8.29%	0.02x	15.19x	MX$-14.42 Billion
2021	7.02%	21.87%	0.02x	14.92x	MX$-5.91 Billion
2022	8.55%	23.93%	0.02x	15.82x	MX$-2.71 Billion
2023	12.70%	36.52%	0.02x	16.40x	MX$5.00 Billion
2024	12.96%	35.58%	0.02x	16.31x	MX$5.48 Billion

Industry Comparison

This section compares HSBC Holdings plc's net assets metrics with peer companies in the Banks - Diversified industry.

Industry Context

Industry: Banks - Diversified
Average net assets among peers: $62,906,000,000
Average return on equity (ROE) among peers: 5.41%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
HSBC Holdings plc (HBCN)	MX$198.69 Billion	9.21%	15.28x	$315.34 Billion
Barclays PLC (BCSN)	$70.21 Billion	9.08%	18.72x	$84.78 Billion
ING Groep N.V (INGN)	$55.60 Billion	1.73%	20.13x	$46.00 Billion

About HSBC Holdings plc

MX:HBCN Mexico Banks - Diversified

Market Cap

$315.34 Billion

MX$5.48 Trillion MXN

Market Cap Rank

#48 Global

#1 in Mexico

Share Price

MX$1596.00

Change (1 day)

+13.69%

52-Week Range

MX$1200.00 - MX$1596.00

All Time High

MX$1596.00