Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.44, read 2026-11-02
Ethical does not pass the values gate
Price84.49 USD
Fair value112.05
Ethical score30.0/100
Value readUndervaluedas of 3 Nov 2026
Our investment reviews on this name
2026-10-11Read Distribution100.95-16.3% to today ✓Markdown gives way to Distribution
2026-09-03Read Markdown102.33-17.4% to today ✓Markup gives way to Markdown after a 10% rise in 9 weeks
2026-07-02Read Markup92.67-8.8% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
HSBC Holdings plc ADR holds its Distribution at $84.49. The statistical read favours the sellers, held for 1 days.
As held on the ledger · 2026-11-03
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 1 days
Price at the screen
$84.49
Valuation
11.32 trailing · 9.25 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.58
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.
The Ethical Read
Why It Falls Short, in Plain English
HSBC does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when HSBC's ethical verdict changes
Today HSBC does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
The quantitative screen above is arithmetic. Separately, community boycott lists cite this company: Cited by BDS movement for investment links to companies operating in or supporting Israeli settlements and military operations. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 3 Nov 2026: it trades at roughly a 23% discount to our $112.05 fair value, wide competitive moat, 6.40% revenue growth.
Fair value range in USD, drawn from the 2026-11-03 screen. The gold marker is the market price at the same screen. A 24.6% discount to the base estimate.
Where our models see it going: fair-value estimate $112.05, with a range of $105.29 to $171.82, dated to the 2026-11-03 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
Why it stands out
A 6%-growth business trading at just 9.3x forward earnings, with a wide competitive moat. That is a 23% discount to our $112.05 fair value: the market is pricing it cautiously while the fundamentals argue otherwise. 3 analysts rate it Buy with a $107.00 average target, about 27% above the screened price.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
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
2026-11-01Distribution$85.42-9.0%Entry 16
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 9.0% 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 C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bearish. 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.
2026-10-25Distribution$93.91+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. 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 C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading oversold. 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.
2026-10-18Distribution$93.91-7.0%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.0% 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.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. 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.
2026-10-02Markdown$100.95-1.3%Entry 12
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.3% 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.
2026-09-03Markdown · 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
Our analysis 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
Our analysis 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
Our analysis 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
Our analysis 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.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
