Comprehensive Stock Comparison
Compare Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) vs HSBC Holdings plc (HSBC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BBVA | 16.2% revenue growth vs HSBC's 10.6% |
| Value | BBVA | Lower P/E (9.8x vs 11.6x), PEG 0.34 vs 0.35 |
| Quality / Margins | BBVA | 31.8% net margin vs HSBC's 16.7% |
| Stability / Safety | BBVA | Beta 0.82 vs HSBC's 0.83 |
| Dividends | HSBC | 5.0% yield, 4-year raise streak, vs BBVA's 3.5% |
| Momentum (1Y) | BBVA | +80.6% vs HSBC's +61.0% |
| Efficiency (ROA) | BBVA | 1.3% ROA vs HSBC's 0.5%, ROIC 6.1% vs 4.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Banco Bilbao Vizcaya Argentaria (BBVA) is a multinational banking group providing retail and commercial banking services across multiple continents. It generates revenue primarily through net interest income from lending activities — about 60% of total income — supplemented by fees from banking services, insurance, and asset management. Its key advantage lies in its strong digital banking platform and extensive geographic diversification across Spain, Mexico, and Latin America, which provides resilience against regional economic cycles.
HSBC is a global banking and financial services institution operating across retail, commercial, and investment banking. It generates revenue primarily through net interest income from lending activities (about 60% of total income) and fee-based income from transaction services, wealth management, and investment banking. Its key competitive advantage is its unique global network—particularly its dominant position in Asia and strong connectivity between East and West—which enables cross-border banking services few competitors can match.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BBVA leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). HSBC leads in 1 (Analyst Outlook). 2 tied.
Financial Metrics (TTM)
HSBC is the larger business by revenue, generating $143.3B annually — 4.5x BBVA's $31.6B. BBVA is the more profitable business, keeping 31.8% of every revenue dollar as net income compared to HSBC's 16.7%.
| Metric | BBVABanco Bilbao Vizc… | HSBCHSBC Holdings plc |
|---|---|---|
| RevenueTrailing 12 months | $31.6B | $143.3B |
| EBITDAEarnings before interest/tax | $18.2B | $28.6B |
| Net IncomeAfter-tax profit | $10.4B | $17.7B |
| Free Cash FlowCash after capex | $3.1B | $0 |
| Gross MarginGross profit ÷ Revenue | +100.0% | +47.0% |
| Operating MarginEBIT ÷ Revenue | +56.6% | +22.5% |
| Net MarginNet income ÷ Revenue | +31.8% | +16.7% |
| FCF MarginFCF ÷ Revenue | -61.4% | +42.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -4.5% | -17.6% |
Valuation Metrics
At 11.7x trailing earnings, BBVA trades at a 22% valuation discount to HSBC's 15.0x P/E. Adjusting for growth (PEG ratio), BBVA offers better value at 0.40x vs HSBC's 0.46x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | BBVABanco Bilbao Vizc… | HSBCHSBC Holdings plc |
|---|---|---|
| Market CapShares × price | $130.9B | $319.8B |
| Enterprise ValueMkt cap + debt − cash | $230.6B | $277.7B |
| Trailing P/EPrice ÷ TTM EPS | 11.67x | 15.03x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.77x | 11.63x |
| PEG RatioP/E ÷ EPS growth rate | 0.40x | 0.46x |
| EV / EBITDAEnterprise value multiple | 10.08x | 7.63x |
| Price / SalesMarket cap ÷ Revenue | 3.52x | 2.23x |
| Price / BookPrice ÷ Book value/share | 1.89x | 1.79x |
| Price / FCFMarket cap ÷ FCF | — | 5.21x |
Profitability & Efficiency
BBVA delivers a 16.8% return on equity — every $100 of shareholder capital generates $17 in annual profit, vs $9 for HSBC. HSBC carries lower financial leverage with a 1.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to BBVA's 2.41x. On the Piotroski fundamental quality scale (0–9), HSBC scores 7/9 vs BBVA's 5/9, reflecting strong financial health.
| Metric | BBVABanco Bilbao Vizc… | HSBCHSBC Holdings plc |
|---|---|---|
| ROE (TTM)Return on equity | +16.8% | +8.9% |
| ROA (TTM)Return on assets | +1.3% | +0.5% |
| ROICReturn on invested capital | +6.1% | +4.6% |
| ROCEReturn on capital employed | +8.3% | +2.6% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 2.41x | 1.26x |
| Net DebtTotal debt minus cash | $84.5B | -$42.2B |
| Cash & Equiv.Liquid assets | $59.9B | $284.5B |
| Total DebtShort + long-term debt | $144.4B | $242.3B |
| Interest CoverageEBIT ÷ Interest expense | 0.98x | 0.39x |
Total Returns (with DRIP)
A $10,000 investment in BBVA five years ago would be worth $46,274 today (with dividends reinvested), compared to $35,948 for HSBC. Over the past 12 months, BBVA leads with a +80.6% total return vs HSBC's +61.0%. The 3-year compound annual growth rate (CAGR) favors BBVA at 48.0% vs HSBC's 39.1% — a key indicator of consistent wealth creation.
| Metric | BBVABanco Bilbao Vizc… | HSBCHSBC Holdings plc |
|---|---|---|
| YTD ReturnYear-to-date | -3.6% | +15.8% |
| 1-Year ReturnPast 12 months | +80.6% | +61.0% |
| 3-Year ReturnCumulative with dividends | +224.0% | +169.3% |
| 5-Year ReturnCumulative with dividends | +362.7% | +259.5% |
| 10-Year ReturnCumulative with dividends | +328.2% | +267.7% |
| CAGR (3Y)Annualised 3-year return | +48.0% | +39.1% |
Risk & Volatility
BBVA is the less volatile stock with a 0.82 beta — it tends to amplify market swings less than HSBC's 0.83 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HSBC currently trades 98.3% from its 52-week high vs BBVA's 88.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BBVABanco Bilbao Vizc… | HSBCHSBC Holdings plc |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.82x | 0.83x |
| 52-Week HighHighest price in past year | $26.20 | $94.80 |
| 52-Week LowLowest price in past year | $11.59 | $45.66 |
| % of 52W HighCurrent price vs 52-week peak | +88.3% | +98.3% |
| RSI (14)Momentum oscillator 0–100 | 47.4 | 69.1 |
| Avg Volume (50D)Average daily shares traded | 1.6M | 1.8M |
Analyst Outlook
Wall Street rates BBVA as "Buy" and HSBC as "Hold". For income investors, HSBC offers the higher dividend yield at 4.96% vs BBVA's 3.46%.
| Metric | BBVABanco Bilbao Vizc… | HSBCHSBC Holdings plc |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | — | $52.00 |
| # AnalystsCovering analysts | 13 | 19 |
| Dividend YieldAnnual dividend ÷ price | +3.5% | +5.0% |
| Dividend StreakConsecutive years of raises | 3 | 4 |
| Dividend / ShareAnnual DPS | $0.68 | $4.63 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.4% | +3.7% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Banco Bilbao Vizcay… (BBVA) | 100 | 544.75 | +444.7% |
| HSBC Holdings plc (HSBC) | 100 | 266.9 | +166.9% |
Banco Bilbao Vizcay… (BBVA) returned +363% over 5 years vs HSBC Holdings plc (HSBC)'s +259%. A $10,000 investment in BBVA 5 years ago would be worth $46,274 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Banco Bilbao Vizcay… (BBVA) | $23.7B | $31.6B | +33.4% |
| HSBC Holdings plc (HSBC) | $87.2B | $143.3B | +64.4% |
Banco Bilbao Vizcaya Argentaria, S.A.'s revenue grew from $23.7B (2015) to $31.6B (2024) — a 3.3% CAGR. HSBC Holdings plc's revenue grew from $87.2B (2015) to $143.3B (2024) — a 5.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Banco Bilbao Vizcay… (BBVA) | 11.2% | 31.8% | +185.3% |
| HSBC Holdings plc (HSBC) | 15.5% | 16.7% | +7.9% |
Banco Bilbao Vizcaya Argentaria, S.A.'s net margin went from 11% (2015) to 32% (2024). HSBC Holdings plc's net margin went from 16% (2015) to 17% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Banco Bilbao Vizcay… (BBVA) | 18.5 | 5.8 | -68.6% |
| HSBC Holdings plc (HSBC) | 21.5 | 8 | -62.8% |
Banco Bilbao Vizcaya Argentaria, S.A. has traded in a 6x–35x P/E range over 8 years; current trailing P/E is ~12x. HSBC Holdings plc has traded in a 7x–27x P/E range over 8 years; current trailing P/E is ~15x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Banco Bilbao Vizcay… (BBVA) | 0.37 | 1.68 | +354.1% |
| HSBC Holdings plc (HSBC) | 3.2 | 6.2 | +93.8% |
Banco Bilbao Vizcaya Argentaria, S.A.'s EPS grew from $0.37 (2015) to $1.68 (2024) — a 18% CAGR. HSBC Holdings plc's EPS grew from $3.20 (2015) to $6.20 (2024) — a 8% CAGR.
Chart 6Free Cash Flow — 5 Years
Banco Bilbao Vizcaya Argentaria, S.A. generated $-19B FCF in 2024 (-786% vs 2021). HSBC Holdings plc generated $61B FCF in 2024 (-39% vs 2021).
BBVA vs HSBC: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is BBVA or HSBC a better buy right now?
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) offers the better valuation at 11.7x trailing P/E (9.8x forward), making it the more compelling value choice. Analysts rate Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BBVA or HSBC?
On trailing P/E, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is the cheapest at 11.7x versus HSBC Holdings plc at 15.0x. On forward P/E, Banco Bilbao Vizcaya Argentaria, S.A. is actually cheaper at 9.8x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Banco Bilbao Vizcaya Argentaria, S.A. wins at 0.34x versus HSBC Holdings plc's 0.35x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — BBVA or HSBC?
Over the past 5 years, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) delivered a total return of +362.7%, compared to +259.5% for HSBC Holdings plc (HSBC). A $10,000 investment in BBVA five years ago would be worth approximately $46K today (assuming dividends reinvested). Over 10 years, the gap is even starker: BBVA returned +328.2% versus HSBC's +267.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BBVA or HSBC?
By beta (market sensitivity over 5 years), Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is the lower-risk stock at 0.82β versus HSBC Holdings plc's 0.83β — meaning HSBC is approximately 1% more volatile than BBVA relative to the S&P 500. On balance sheet safety, HSBC Holdings plc (HSBC) carries a lower debt/equity ratio of 126% versus 2% for Banco Bilbao Vizcaya Argentaria, S.A. — giving it more financial flexibility in a downturn.
05Which has better profit margins — BBVA or HSBC?
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is the more profitable company, earning 31.8% net margin versus 16.7% for HSBC Holdings plc — meaning it keeps 31.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BBVA leads at 56.6% versus 22.5% for HSBC. At the gross margin level — before operating expenses — BBVA leads at 100.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is BBVA or HSBC more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is the more undervalued stock at a PEG of 0.34x versus HSBC Holdings plc's 0.35x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) trades at 9.8x forward P/E versus 11.6x for HSBC Holdings plc — 1.9x cheaper on a one-year earnings basis.
07Which pays a better dividend — BBVA or HSBC?
All stocks in this comparison pay dividends. HSBC Holdings plc (HSBC) offers the highest yield at 5.0%, versus 3.5% for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA).
08Is BBVA or HSBC better for a retirement portfolio?
For long-horizon retirement investors, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.82), 3.5% yield, +328.2% 10Y return). Both have compounded well over 10 years (BBVA: +328.2%, HSBC: +267.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between BBVA and HSBC?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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