NAS10029,644+0.67%S&P7,651+0.17%GOLD$4,416+0.37%BTC$81,118+6.17%VIX14.81−4.08%live tape · as of 13:00 UTC
The Screen · Financials · Banks - Diversified
HSBC Holdings plc ADR
HSBC · the NYSE · USD · Market cap $364.0B · 208,844 employees
HSBC Holdings plc engages in the provision of banking and financial products and services worldwide.
FAIL · Does not pass the screen
106.26 USD
At the last full screen 2026-09-08
Screened 2026-09-08 · the tape above runs as of 13:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
HSBC Holdings plc ADR holds its Markdown at $106.26. Consolidating, no directional conviction, held for 10 days.
As held on the ledger · 2026-09-08
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 10 days
Price at the screen
$106.26
Valuation
15.18 trailing · 11.22 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.57
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Banks - Diversified
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Banks - Diversified
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-08 screen. The gold marker is the market price at the same screen. A 8.5% margin of safety to the base estimate.
Third-party analyst targets: 3 covering, consensus Hold. The average target sits −4% from the screen price.
Reading the gap · Our model sees value the Street hasn't fully caught up to yet.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-08 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Global Banking Giant Faces Ethical Hurdle
Imagine you're navigating the complex world of international finance, and HSBC is the map that guides you. With operations spanning across the globe, HSBC serves as a vital conduit for financial transactions worldwide. However, despite a robust revenue growth of 25% and a healthy 38% profit margin, HSBC fails to meet our ethical investment criteria.
Why it stands out, or rather, why we pass. HSBC boasts a wide moat, indicating a strong competitive advantage in the banking sector, and offers a fair value of $115.24, which is a 13% margin of safety over the current price of $102.33. Yet, it's the ethical side that's the stumbling block here. The company operates in an industry that we've deemed excluded for investment, which overshadows the financial metrics.
The risk in holding HSBC is not just about market volatility, but also about ethical considerations. While the forward P/E of 10.8x and a 13% return on equity (ROE) might be attractive to some, our ethical screen does not waver. This is a critical factor in our investment decisions, and unfortunately, HSBC does not align with our principles. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to United Kingdom and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HSBC trades on the NYSE (the company is based in United Kingdom). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-03Markdown · changed$102.33-1.0%Entry 11
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102.
2026-08-04Markup$103.40+0.0%Entry 10
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-03Markup$103.40+0.0%Entry 9
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-02Markup$103.40+0.0%Entry 8
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-01Markup$103.40+0.0%Entry 7
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-31Markup$103.40+0.0%Entry 6
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-30Markup$103.40+0.0%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-28Markup$103.40+11.6%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 11.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-18Markup$92.67+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (3 analysts) rates it buy, with a mean price target of $102.
2026-07-03Markup$92.67+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
