HSBC Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	29,907	32,309	30,348	17,058	18,906
Depreciation & Amortization	4,916	4,080	3,466	3,850	4,286
Provision for Credit Losses	4,170	3,674	3,717	3,898	-519
Stock-Based Compensation	621	529	482	400	467
Other Adjustments	-5,956	-8,735	-10,660	-2,320	-4,898
Changes in Other Operating Activities	-3,892	36,448	8,758	-3,531	86,070
Operating Cash Flow	29,766	65,305	39,111	19,355	104,312
Operating Cash Flow Growth	-54.42%	66.97%	102.07%	-81.45%	-42.75%
Net Change in Securities and Investments	-32,082	-69,952	-59,387	-18,473	28,148
Payments for Business Acquisitions	-1,451	-12,617	-1,692	-989	-
Proceeds from Business Divestments	1,126	9,891	1,239	-	-106
Capital Expenditures	-1,447	-1,344	-1,145	-1,284	-1,086
Purchases of Intangible Assets	-3,214	-2,542	-2,550	-3,125	-2,479
Other Investing Activities	623	-	-	-3,530	3,059
Investing Cash Flow	-37,068	-76,564	-62,912	-27,401	27,536
Long-Term Debt Issued	3,834	4,361	5,237	7,300	-
Long-Term Debt Repaid	-3,591	-2,000	-2,147	-1,777	-
Net Long-Term Debt Issued (Repaid)	243	2,361	3,090	5,523	-
Issuance of Common Stock	4,096	3,602	1,996	-	1,996
Repurchase of Common Stock	-10,368	-11,908	-6,426	-2,573	-2,093
Net Common Stock Issued (Repurchased)	-6,272	-8,306	-4,430	-2,573	-97
Repurchase of Preferred Stock	-2,450	-3,433	-4,003	-2,266	-3,450
Net Preferred Stock Issued (Repurchased)	-2,450	-3,433	-4,003	-2,266	-3,450
Common Dividends Paid	-13,482	-17,100	-12,196	-6,970	-
Financing Cash Flow	-21,961	-26,459	-17,558	-6,286	-3,547
Effect of Exchange Rate Changes on Cash and Cash Equivalents	27,210	-18,275	10,621	-38,029	-
Net Cash Flow	-29,263	-37,718	-41,359	-14,332	128,301
Free Cash Flow	28,319	63,961	37,966	18,071	103,226
Free Cash Flow Growth	-55.73%	68.47%	110.09%	-82.49%	-42.90%
FCF Margin	43.96%	102.44%	60.64%	38.42%	204.49%
Free Cash Flow Per Share	8.07	17.30	9.69	4.52	25.42
Levered Free Cash Flow	20,922	64,462	36,601	18,904	103,963
Unlevered Free Cash Flow	-423	39,184	11,079	-965	89,270

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.