` Comparison: HSBC, SAN - Alpha Spread

HSBC
vs
SAN

Over the past 12 months, HSBC has underperformed SAN, delivering a return of +68% compared to the SAN's +130% growth.

Valuation Growth Profitability Solvency Stocks Performance
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HSBC
SAN
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Stocks Compared:
HSBC SAN
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Valuation Comparison

HSBC Intrinsic Value
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SAN Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
HSBC Holdings PLC
NYSE:HSBC
77.92 USD
Banco Santander SA
MAD:SAN
9.97 EUR
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
HSBC, SAN

HSBC
SAN
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
HSBC Holdings PLC
Revenue
Banco Santander SA
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
HSBC, SAN

HSBC
SAN
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
HSBC Holdings PLC
NYSE:HSBC
FCF is not applicable for financial companies
Banco Santander SA
MAD:SAN
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

HSBC
SAN
LTM 3Y Avg 5Y Avg 10Y Avg
HSBC Holdings PLC
Not applicable for financial companies
Banco Santander SA
Not applicable for financial companies

Operating Margin

HSBC
SAN
LTM 3Y Avg 5Y Avg 10Y Avg
HSBC Holdings PLC
Not applicable for financial companies
Banco Santander SA
Not applicable for financial companies

Net Margin

HSBC
21.3%
SAN
19.8%

FCF Margin

HSBC
SAN
LTM 3Y Avg 5Y Avg 10Y Avg
HSBC Holdings PLC
Not applicable for financial companies
Banco Santander SA
Not applicable for financial companies

ROE

HSBC
11.8%
SAN
13.8%

ROA

HSBC
0.7%
SAN
0.8%

ROIC

HSBC
SAN
LTM 3Y Avg 5Y Avg 10Y Avg
HSBC Holdings PLC
Not applicable for financial companies
Banco Santander SA
Not applicable for financial companies

ROCE

HSBC
SAN
LTM 3Y Avg 5Y Avg 10Y Avg
HSBC Holdings PLC
Not applicable for financial companies
Banco Santander SA
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
HSBC, SAN

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HSBC
SAN
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Performance Gap
HSBC, SAN

Performance Gap Between HSBC and SAN
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Performance By Year
HSBC, SAN

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HSBC
SAN
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