Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
HSBC HoldingsHSBC +1.78%63 Price-to-Tangible-Book is 1.94 as of Aug. 21, 2026, which is 116% above its 10-year median of 0.90. GuruFocus rates HSBC with a GF Score™ of 63/100 and a GF Value™ of $63.61 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,500 Banks companies, HSBC Holdings ranks worse than 82.87% on this metric.
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
HSBC Holdings Price-to-Tangible-Book Related Terms
HSBC Holdings Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for HSBC Holdings's Price-to-Tangible-Book can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HSBC vs JPM, BAC, WFC: Price-to-Tangible-Book Comparison
For the Banks - Diversified subindustry, HSBC Holdings's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
HSBC Holdings Price-to-Tangible-Book vs Banks Industry
For the Banks industry and Financial Services sector, HSBC Holdings's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where HSBC Holdings's Price-to-Tangible-Book falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
HSBC Holdings (HSBC) has a Price-to-Tangible-Book of 1.94 as of Aug. 21, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on HSBC Holdings and its competitors. This is 116% above median its historical median of 0.90. Over the past decade, HSBC Holdings' Price-to-Tangible-Book has ranged from 0.41 to 1.90. According to the industry distribution chart, HSBC Holdings ranks #1243 out of 1500 companies in the Banks industry, placing it in the top 82.9%.
Is HSBC Holdings' Price-to-Tangible-Book too high?
HSBC Holdings' current Price-to-Tangible-Book of 1.94 is 116% above median its 10-year median of 0.90. Over the past 10 years, this metric has ranged from a low of 0.41 to a high of 1.90. The Banks industry median Price-to-Tangible-Book is 1.19. HSBC Holdings' value of 1.94 is 63% above this industry median. Based on the distribution chart, HSBC Holdings ranks #1243 out of 1500 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, HSBC Holdings has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does HSBC Holdings' Price-to-Tangible-Book compare to JPM and BAC?
According to the Banks industry distribution chart, HSBC Holdings ranks #1243 out of 1500 companies for Price-to-Tangible-Book. This places HSBC Holdings in the lower half of its industry. The industry median Price-to-Tangible-Book is 1.19. HSBC Holdings' value of 1.94 is 63% above this benchmark. Historically, HSBC Holdings' own Price-to-Tangible-Book has ranged from 0.41 to 1.90 over the past decade. While the company's 10-year median is 0.90 vs. the industry median of 1.19, HSBC Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for a Banks company?
The median Price-to-Tangible-Book among Banks companies is 1.19, based on 1,500 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HSBC Holdings's current Price-to-Tangible-Book of 1.94 is 63% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on HSBC Holdings and its competitors. For the Banks industry, the median Price-to-Tangible-Book is 1.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HSBC Holdings's current Price-to-Tangible-Book is 1.94, which is 116% above median its own 10-year median of 0.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HSBC Holdings stock overvalued right now?
Based on GuruFocus' analysis, HSBC Holdings (HSBC) is currently considered Significantly Overvalued. The stock's GF Value™ is $63.61, compared to a current price of $104.15 — trading 63.7% above its estimated fair value. The current Price-to-Tangible-Book is 1.94, which is 116% above median its 10-year median of 0.90 and 63% above the Banks industry median of 1.19. HSBC Holdings' overall GF Score™ is 63/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For HSBC Holdings (HSBC), the current Price-to-Tangible-Book is 1.94 as of Aug. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is HSBC Holdings (HSBC) Overvalued in 2026?
Based on GuruFocus' analysis, HSBC Holdings stock appears to be overvalued.
The current stock price of $104.15 is trading 63.7% above its estimated GF Value™ of $63.61.
GuruFocus considers HSBC Holdings to be Significantly Overvalued.
Key valuation signals for HSBC:
Price-to-Tangible-Book: 1.94 (116% above median its 10-year median of 0.90)
GF Value™: $63.61 vs. price of $104.15 (63.7% above fair value)
Industry Position: 63% above the Banks median (#1243 of 1500)
No single metric tells the full story. See the HSBC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Established in 1865 in Hong Kong, London-based HSBC is one of the largest banks in the world, with assets of USD 3 trillion and over 40 million customers worldwide. It operates in more than 50 countries with over 200,000 full-time staff. Hong Kong and the United Kingdom are its two largest markets. The bank offers retail, commercial and institutional banking, global banking and markets, wealth management, and private banking.
63GF Score
Get the complete analysis for HSBC
Price-to-Tangible-Book is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HSBC has been successfully added to your 
