GS vs. HSBC: Goldman Sachs vs. HSBC Stock Comparison

November 11, 2026

How do Goldman Sachs (GS) and HSBC (HSBC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Goldman Sachs (GS) and HSBC (HSBC) share the Financials sector but sit in different industry groups — GS in Financial Services and HSBC in Banks.

Goldman Sachs (GS) trades as ordinary local shares, while HSBC (HSBC) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Goldman Sachs (GS) and HSBC (HSBC)
Profile Item	GS	HSBC
Name	The Goldman Sachs Group, Inc.	HSBC Holdings plc Sponsored ADR
Country/Region	United States	United Kingdom
GICS Sector	Financials	Financials
GICS Industry Group	Financial Services	Banks
GICS Industry	Capital Markets	Banks
GICS Sub-Industry	Investment Banking & Brokerage	Diversified Banks
Market Capitalization	249.73 billion USD	297.66 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 4, 1999	July 16, 1999
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

HSBC

GSPC

Goldman Sachs (GS) vs. HSBC (HSBC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Goldman Sachs (GS) and HSBC (HSBC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Goldman Sachs (GS) and HSBC (HSBC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
Total Return (1Y)	17.85%	32.02%
Total Return (3Y, Annualized)	44.69%	43.61%
Total Return (5Y, Annualized)	20.41%	33.35%

Risk Profile

Drawdown History

HSBC

GSPC

Goldman Sachs (GS) vs. HSBC (HSBC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Goldman Sachs (GS) and HSBC (HSBC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
Volatility (1Y, Annualized)	33.28%	28.54%
Beta (5Y)	1.27	0.54
Max Drawdown (5Y)	-30.90%	-31.80%
Avg. Volume (3M)	2.10M	1.58M

Risk-Adjusted Performance

Risk-Return Positioning

GS and HSBC are plotted by 1-year volatility (risk) and 1-year return. Each dashed Capital Allocation Line uses that stock's own industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
Sharpe Ratio (1Y)	0.41	0.97
Sortino Ratio (1Y)	0.59	1.52

Profitability

ROE (TTM)

HSBC (HSBC) at 14.22% sits in the top ROE quartile, while Goldman Sachs (GS) at 17.71% is closer to the peer norm — stronger capital efficiency for HSBC.

GS

Financial Services industry group

17.71%

Max: 44.78%
Q3: 21.85%
GS: 17.71%
Median: 12.91%
Q1: 4.48%
Min: -18.71%

HSBC

Banks industry group

14.22%

Max: 19.84%
HSBC: 14.22%
Q3: 13.67%
Median: 11.49%
Q1: 9.50%
Min: 3.64%

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their ROE against their respective Financial Services and Banks industry group benchmarks.

Net Margin (TTM)

For every dollar of sales, both Goldman Sachs (GS) at 31.21% and HSBC (HSBC) at 41.16% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

GS

Financial Services industry group

31.21%

Max: 62.84%
GS: 31.21%
Q3: 28.05%
Median: 15.36%
Q1: 4.82%
Min: -28.52%

HSBC

Banks industry group

41.16%

Max: 47.19%
HSBC: 41.16%
Q3: 35.25%
Median: 31.21%
Q1: 27.11%
Min: 14.93%

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their net margin against their respective Financial Services and Banks industry group benchmarks.

Operating Margin (TTM)

Goldman Sachs (GS) reports operating margin of 38.37%; HSBC (HSBC) doesn’t report a comparable line — in Banks, funding costs sit inside the core business rather than below an operating line, so profitability is better judged on net margin or ROE.

GS

Financial Services industry group

38.37%

Max: 107.33%
Q3: 55.90%
GS: 38.37%
Median: 30.09%
Q1: 14.60%
Min: -44.34%

HSBC

Banks industry group

HSBC: --
Max: --
Q3: --
Median: --
Q1: --
Min: --

Goldman Sachs (GS) vs. HSBC (HSBC): HSBC’s operating margin is not assessed under the Banks industry convention, so the chart shows available visual context for GS only.

Profitability Metrics

Profitability metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
ROE (TTM)	17.71%	14.22%
ROA (TTM)	1.11%	0.84%
Net Margin (TTM)	31.21%	41.16%
Operating Margin (TTM)	38.37%	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Goldman Sachs (GS) at 8.92% is around its peer norm for revenue growth, while HSBC (HSBC) at 5.38% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Goldman Sachs (GS) at 26.59% is around its peer norm for EPS growth, while HSBC (HSBC) at -3.23% drops into the bottom quartile, signaling weaker earnings momentum.

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
Revenue Growth (YoY)	8.92%	5.38%
Revenue Growth (3Y CAGR)	7.16%	9.75%
EPS Growth (YoY)	26.59%	-3.23%
EPS Growth (3Y CAGR)	19.52%	17.49%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Goldman Sachs (GS) in Financial Services and HSBC (HSBC) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: Goldman Sachs (GS) in Financial Services and HSBC (HSBC) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Goldman Sachs (GS) at 2.07% pays a yield in its industry’s typical range, while HSBC (HSBC) at 0.86% falls in the bottom quartile of its peers.

GS

Financial Services industry group

2.07%

Max: 9.77%
Q3: 3.92%
GS: 2.07%
Median: 1.09%
Q1: 0.00%
Min: 0.00%

HSBC

Banks industry group

0.86%

Max: 5.79%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
HSBC: 0.86%
Min: 0.00%

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their dividend yield against their respective Financial Services and Banks industry group benchmarks.

Dividend Payout Ratio (TTM)

Goldman Sachs (GS) at 25.88% pays out a band-typical share of earnings, while HSBC (HSBC) at 53.57% distributes more than its industry norm — less retained, thinner cover.

GS

Financial Services industry group

25.88%

Max: 241.07%
Q3: 97.36%
GS: 25.88%
Median: 25.77%
Q1: 0.00%
Min: 0.00%

HSBC

Banks industry group

53.57%

Max: 70.75%
HSBC: 53.57%
Q3: 41.28%
Median: 29.26%
Q1: 18.98%
Min: 0.00%

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their payout ratio against their respective Financial Services and Banks industry group benchmarks.

Dividend Metrics

Dividend metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
Dividend Yield (TTM)	2.07%	0.86%
Dividend Payout Ratio (TTM)	25.88%	53.57%

Valuation

P/E Ratio (TTM)

Both Goldman Sachs (GS) at 12.45 and HSBC (HSBC) at 11.38 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

GS

Financial Services industry group

12.45

Max: 45.85
Q3: 24.64
Median: 15.37
GS: 12.45
Q1: 9.68
Min: 0.16

HSBC

Banks industry group

11.38

Max: 18.16
Q3: 13.75
Median: 11.81
HSBC: 11.38
Q1: 10.64
Min: 6.49

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their P/E ratio against their respective Financial Services and Banks industry group benchmarks.

P/S Ratio (TTM)

Goldman Sachs (GS) shows P/S ratio of 3.52; for HSBC (HSBC) the multiple is skipped — in Banks, income is dominated by interest spread rather than a conventional revenue line, so pricing per dollar of sales loses meaning and book- or earnings-based multiples carry the comparison.

GS

Financial Services industry group

3.52

Max: 9.23
Q3: 4.57
GS: 3.52
Median: 2.72
Q1: 1.28
Min: -0.55

HSBC

Banks industry group

HSBC: --
Max: --
Q3: --
Median: --
Q1: --
Min: --

Goldman Sachs (GS) vs. HSBC (HSBC): HSBC’s P/S ratio is not assessed under the Banks industry convention, so the chart shows available visual context for GS only.

P/B Ratio (MRQ)

Goldman Sachs (GS) at 2.36 sits near its industry’s typical P/B ratio, while HSBC (HSBC) at 6.87 prices above its benchmark range — HSBC looks rich relative to book.

GS

Financial Services industry group

2.36

Max: 7.79
Q3: 3.63
GS: 2.36
Median: 1.57
Q1: 0.81
Min: -0.39

HSBC

Banks industry group

6.87

HSBC: 6.87
Max: 2.28
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

Goldman Sachs (GS) vs. HSBC (HSBC): A comparison of their P/B ratio against their respective Financial Services and Banks industry group benchmarks.

Valuation Metrics

Valuation metrics for Goldman Sachs (GS) and HSBC (HSBC)
Metric	GS	HSBC
P/E Ratio (TTM)	12.45	11.38
P/S Ratio (TTM)	3.52	--
P/B Ratio (MRQ)	2.36	6.87
Free Cash Flow Yield (TTM)	--	--