Filing Flows › Comparisons › HSBC vs AX
HSBC Holdings vs Axos Financial: HSBC and AX compared
HSBC Holdings is the larger company: $18.6B of revenue in its latest quarter (Q3 2026) against $395M for Axos Financial (Q1 FY27). Axos Financial is growing faster (+22% against +5% a year earlier). HSBC Holdings is more profitable, with an operating margin of 51.7% against 44.3%.
Where the money goes: HSBC and AX
HSBC Holdings (HSBC) · Q3 2026
HSBC Holdings, Q3 2026: revenue $18.6B (+5% year over year), operating margin 51.7%, net earnings $7.6B. The chart follows the revenue to costs, profit and cash.
Axos Financial (AX) · Q1 FY27
Axos Financial, Q1 FY27: revenue $395M (+22% year over year), operating margin 44.3%, net earnings $130M, operating cash flow $295M. The chart follows the revenue to costs, profit and cash.
| HSBC Holdings (HSBC) | Axos Financial (AX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 FY27 |
| Revenue | $18.6B | $395M |
| Revenue growth, Y/Y | +5% | +22% |
| Operating margin | 51.7% | 44.3% |
| Net earnings | $7.6B | $130M |
| Net margin | 40.7% | 32.8% |
| Operating cash flow | — | $295M |
| Free cash flow | — | $235M |
| Market value | — | $5.4B |
| P/E | — | 10.8× |
| Analysts’ mean target | — | $117.71 |
Where the revenue comes from
HSBC Holdings
- Banking NII 1: $11.7B (63%)
- – Wholesale Transaction Banking: $2.9B (15%)
- – Wealth: $2.7B (14%)
- – Other: $1.5B (8%)
Axos Financial
- Net interest income: $331M (84%)
- Noninterest income: $63.8M (16%)
Questions
Which is bigger, HSBC Holdings or Axos Financial?
HSBC Holdings is the larger company: $18.6B of revenue in its latest quarter (Q3 2026) against $395M for Axos Financial (Q1 FY27).
Is HSBC Holdings or Axos Financial growing faster?
Axos Financial is growing faster (+22% against +5% a year earlier).
Which is more profitable, HSBC Holdings or Axos Financial?
HSBC Holdings is more profitable, with an operating margin of 51.7% against 44.3%.
More: HSBC Holdings earnings · how HSBC Holdings makes money · Axos Financial earnings · how Axos Financial makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 27, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.