Revenue
1.13 billion USD
2026 Q3 · USD
Exact inputs and evidence
- Revenue: 1128000000 USD Source
Fundies. English
HSBC USA Inc.
EDGARAnnual consolidated revenue for 2025: about USD 4.118B, using the latest reported figures. The previous period, 2024, was about USD 3.747B.
Latest quarter
Operating margin
98.14%
2026 Q3 · %
Operating cash flow
-6.3 billion USD
2026 Q3 · USD
- Cash and cash equivalents
- Not available
- Long-term debt including current maturities
- 24.8 billion USD Source
Exact value
24836000000 USD
- Shares outstanding
- 714 shares Source
Exact value
714 shares
Reported share-count change
0.00% · 0 shares
Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.
Trailing twelve months
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
Revenue
4.41 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
Net income
1.27 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
Operating cash flow
-11.3 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
- Operating cash flow: -2309000000 USD · 2025-01-01 – 2025-12-31 Source
- Operating cash flow: -2000000 USD · 2025-01-01 – 2025-09-30 Source
- Operating cash flow: 1439000000 USD · 2026-01-01 – 2026-03-31 Source
- Operating cash flow: -2733000000 USD · 2026-01-01 – 2026-06-30 Source
- Operating cash flow: 1439000000 USD · 2026-01-01 – 2026-03-31 Source
- Operating cash flow: -9036000000 USD · 2026-01-01 – 2026-09-30 Source
- Operating cash flow: -2733000000 USD · 2026-01-01 – 2026-06-30 Source
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-10-27.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 11 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 11 of 11 periods available· newest 2025-12-31
- Total liabilities: 11 of 11 periods available· newest 2025-12-31
- current assets: No compatible figures in this window
- current liabilities: No compatible figures in this window
- cash and cash equivalents: No compatible figures in this window
- Long-term debt including current maturities: 11 of 11 periods available· newest 2025-12-31
- Shares outstanding: 11 of 11 periods available· newest 2025-12-31
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
+9.9%Prior period
USD 3.75 billion
–
Current period
USD 4.12 billion
–
Exact inputs and evidence
4118000000 − 3747000000 = 371000000 USD
3747000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source4118000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
+33.5%Prior period
USD 825 million
–
Current period
USD 1.1 billion
–
Exact inputs and evidence
1101000000 − 825000000 = 276000000 USD
825000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source1101000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
-206.4%Prior period
USD 2.17 billion
–
Current period
−USD 2.31 billion
–
Exact inputs and evidence
-2309000000 − 2170000000 = -4479000000 USD
2170000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source-2309000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 4.12 billion 100% of revenue
- Operating costs Derived −USD 94 million −2.3% of revenue
- Operating income USD 4.21 billion 102% of revenue
- Tax, interest and other Derived USD 3.11 billion 76% of revenue
- Net income USD 1.1 billion 27% of revenue
Cash
- Operating cash flow −USD 2.31 billion −56% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 Net income was higher than operating income, so the split is not drawn.
- 2017 Net loss: net income was −4% of revenue.
- 2018 91%
- 2019 Net income was higher than operating income, so the split is not drawn.
- 2020 Net loss: net income was −32% of revenue.
- 2021 18%68%15%
- 2022 Net income was higher than operating income, so the split is not drawn.
- 2023 Net income was higher than operating income, so the split is not drawn.
- 2024 Net income was higher than operating income, so the split is not drawn.
- 2025 Net income was higher than operating income, so the split is not drawn.
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 3516000000 | -372000000 Derived | 3888000000 | 3759000000 Derived | 129000000 | Unavailable | Source
|
| 2017 2017-01-01 – 2017-12-31 | 4440000000 | 165000000 Derived | 4275000000 | 4454000000 Derived | -179000000 | Unavailable | Source
|
| 2018 2018-01-01 – 2018-12-31 | 4224000000 | 73000000 Derived | 4151000000 | 3831000000 Derived | 320000000 | Unavailable | Source
|
| 2019 2019-01-01 – 2019-12-31 | 3771000000 | -195000000 Derived | 3966000000 | 3853000000 Derived | 113000000 | Unavailable | Source
|
| 2020 2020-01-01 – 2020-12-31 | 2899000000 | -810000000 Derived | 3709000000 | 4649000000 Derived | -940000000 | Unavailable | Source
|
| 2021 2021-01-01 – 2021-12-31 | 3890000000 | 570000000 Derived | 3320000000 | 2632000000 Derived | 688000000 | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 3510000000 | -154000000 Derived | 3664000000 | 3116000000 Derived | 548000000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 3312000000 | -45000000 Derived | 3357000000 | 2964000000 Derived | 393000000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 3747000000 | -50000000 Derived | 3797000000 | 2972000000 Derived | 825000000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 4118000000 | -94000000 Derived | 4212000000 | 3111000000 Derived | 1101000000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 4.1B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 3516000000 |
|
| 2017 | Revenue | 4440000000 |
|
| 2018 | Revenue | 4224000000 |
|
| 2019 | Revenue | 3771000000 |
|
| 2020 | Revenue | 2899000000 |
|
| 2021 | Revenue | 3890000000 |
|
| 2022 | Revenue | 3510000000 |
|
| 2023 | Revenue | 3312000000 |
|
| 2024 | Revenue | 3747000000 |
|
| 2025 | Revenue | 4118000000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
9.9% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | -8.5% |
|
| 2017 | Year over year | 26.3% |
|
| 2018 | Year over year | -4.9% |
|
| 2019 | Year over year | -10.7% |
|
| 2020 | Year over year | -23.1% |
|
| 2021 | Year over year | 34.2% |
|
| 2022 | Year over year | -9.8% |
|
| 2023 | Year over year | -5.6% |
|
| 2024 | Year over year | 13.1% |
|
| 2025 | Year over year | 9.9% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin 102.3% 2025
Net margin 26.7% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 110.6% |
|
| 2017 | Operating margin | 96.3% |
|
| 2018 | Operating margin | 98.3% |
|
| 2019 | Operating margin | 105.2% |
|
| 2020 | Operating margin | 127.9% |
|
| 2021 | Operating margin | 85.3% |
|
| 2022 | Operating margin | 104.4% |
|
| 2023 | Operating margin | 101.4% |
|
| 2024 | Operating margin | 101.3% |
|
| 2025 | Operating margin | 102.3% |
|
| 2016 | Net margin | 3.7% |
|
| 2017 | Net margin | -4% |
|
| 2018 | Net margin | 7.6% |
|
| 2019 | Net margin | 3% |
|
| 2020 | Net margin | -32.4% |
|
| 2021 | Net margin | 17.7% |
|
| 2022 | Net margin | 15.6% |
|
| 2023 | Net margin | 11.9% |
|
| 2024 | Net margin | 22% |
|
| 2025 | Net margin | 26.7% |
|
| 2016 | Free cash flow margin | Not reported |
|
| 2017 | Free cash flow margin | Not reported |
|
| 2018 | Free cash flow margin | Not reported |
|
| 2019 | Free cash flow margin | Not reported |
|
| 2020 | Free cash flow margin | Not reported |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD -2.3B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | -6000000 |
|
| 2017 | Operating cash flow | 105000000 |
|
| 2018 | Operating cash flow | -8185000000 |
|
| 2019 | Operating cash flow | -4259000000 |
|
| 2020 | Operating cash flow | 3282000000 |
|
| 2021 | Operating cash flow | 1820000000 |
|
| 2022 | Operating cash flow | 1936000000 |
|
| 2023 | Operating cash flow | 2425000000 |
|
| 2024 | Operating cash flow | 2170000000 |
|
| 2025 | Operating cash flow | -2309000000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | Unavailable |
|
| 2017 | Free cash flow | Unavailable |
|
| 2018 | Free cash flow | Unavailable |
|
| 2019 | Free cash flow | Unavailable |
|
| 2020 | Free cash flow | Unavailable |
|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
92.8% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Liabilities / assets | 89.9% |
|
| 2017 | Liabilities / assets | 89.3% |
|
| 2018 | Liabilities / assets | 88.1% |
|
| 2019 | Liabilities / assets | 89.6% |
|
| 2020 | Liabilities / assets | 90.7% |
|
| 2021 | Liabilities / assets | 91% |
|
| 2022 | Liabilities / assets | 92.6% |
|
| 2023 | Liabilities / assets | 93.1% |
|
| 2024 | Liabilities / assets | 92.7% |
|
| 2025 | Liabilities / assets | 92.8% |
|
Current assets to current liabilities
Current assets divided by current liabilities.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2017-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2018-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2019-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2020-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2021-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2022-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2023-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2024-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2025-12-31 | Current assets / current liabilities | Not reported | No source recorded |
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | USD 129 million Exact valueExact value: 129000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 6 million Exact valueExact value: -6000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2017 2017-01-01 – 2017-12-31 | −USD 179 million Exact valueExact value: -179000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 105 million Exact valueExact value: 105000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2018 2018-01-01 – 2018-12-31 | USD 320 million Exact valueExact value: 320000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 8.19 billion Exact valueExact value: -8185000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2019 2019-01-01 – 2019-12-31 | USD 113 million Exact valueExact value: 113000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 4.26 billion Exact valueExact value: -4259000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2020 2020-01-01 – 2020-12-31 | −USD 940 million Exact valueExact value: -940000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.28 billion Exact valueExact value: 3282000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2021 2021-01-01 – 2021-12-31 | USD 688 million Exact valueExact value: 688000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.82 billion Exact valueExact value: 1820000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | USD 548 million Exact valueExact value: 548000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.94 billion Exact valueExact value: 1936000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | USD 393 million Exact valueExact value: 393000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.43 billion Exact valueExact value: 2425000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | USD 825 million Exact valueExact value: 825000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.17 billion Exact valueExact value: 2170000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | USD 1.1 billion Exact valueExact value: 1101000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 2.31 billion Exact valueExact value: -2309000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
185 filings · 2,939 latest values · 2,939 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000083246, 83246, HSBCUSA, edgar:83246
Also known as HSBC USA INC /MD/, HSBC USA INC. /MD/, HSBC USA Inc., REPUBLIC NEW YORK CORP