HSBC Holdings Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	1,034	495.8	460.2	76.6	119.6	-327.3
Depreciation & Amortization	291.3	277	271	302.4	227	203.1
Other Amortization	6.8	7	7.9	7.5	6.3	10.5
Loss (Gain) From Sale of Assets	-	-	-	-3.7	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	8.7	21
Stock-Based Compensation	47.5	34.6	25	24.7	23.2	13
Other Operating Activities	276.1	390.8	69.7	-111.1	-41.1	349.4
Change in Accounts Receivable	-429.7	-280.3	-277.2	-368	-117.4	-
Change in Inventory	-147.6	-369.3	-54	-211.4	-125.7	-
Change in Accounts Payable	446.3	343.1	-17.7	132.8	105.1	-
Change in Unearned Revenue	112.2	434.5	274.2	67.6	55.3	-
Change in Income Taxes	-54.7	42.8	45.2	-11.6	-8.8	-
Change in Other Net Operating Assets	-22.3	-56.7	96.2	-58.6	-41.3	-60.8
Operating Cash Flow	1,560	1,319	900.5	-152.8	210.9	208.9
Operating Cash Flow Growth	24.78%	46.51%	-	-	0.96%	263.30%
Capital Expenditures	-187.4	-167	-127.9	-100	-73.4	-44.4
Sale of Property, Plant & Equipment	-	-	12.4	3.9	9.8	7
Cash Acquisitions	-239.3	-17.6	-28.8	-5	-1,164	-
Divestitures	-	-	11.9	-	21.7	-
Sale (Purchase) of Intangibles	-7.4	-17.1	-6.7	-11	-11.2	-8.3
Investing Cash Flow	-973.7	-201.7	-139.1	-112.1	-1,217	-45.7
Long-Term Debt Issued	-	270	224.9	790.8	850	2,535
Total Debt Issued	-	270	224.9	790.8	850	2,535
Long-Term Debt Repaid	-	-291.1	-487	-572.2	-21.8	-3,950
Total Debt Repaid	-20.9	-291.1	-487	-572.2	-21.8	-3,950
Net Debt Issued (Repaid)	-20.9	-21.1	-262.1	218.6	828.2	-1,415
Issuance of Common Stock	30	33	27.4	3.1	111.6	156.5
Repurchase of Common Stock	-8.4	-621.8	-3.3	-4.3	-7.3	-
Common Dividends Paid	-56.7	-42.2	-9.5	-3.8	-3.8	-3.3
Other Financing Activities	-	-	-	-113.4	-13.8	1,403
Financing Cash Flow	-56	-652.1	-247.5	100.2	914.9	140.7
Foreign Exchange Rate Adjustments	-3.6	-21.9	1.5	-9.2	-4.5	5
Net Cash Flow	526.8	443.6	515.4	-173.9	-95.5	308.9
Free Cash Flow	1,373	1,152	772.6	-252.8	137.5	164.5
Free Cash Flow Growth	25.22%	49.15%	-	-	-16.41%	1561.62%
Free Cash Flow Margin	14.16%	14.38%	11.26%	-4.44%	2.75%	3.76%
Free Cash Flow Per Share	3.52	2.98	2.00	-0.67	0.38	0.54
Cash Interest Paid	155.5	155.5	176.7	132.8	75.1	167
Cash Income Tax Paid	272.5	272.5	153	104.6	97.3	64.7
Levered Free Cash Flow	532.19	1,036	716.54	-280.64	127.23	294.65
Unlevered Free Cash Flow	587.95	1,123	821.2	-196.08	177.55	364.84
Change in Working Capital	-95.8	114.1	66.7	-449.2	-132.8	-60.8

Updated Oct 22, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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