COMP <GO>

AX vs HSBC // FORWARD P/E MULTIPLE

Axos Financial Inc. (NYSE) VS. HSBC Holdings plc. (NYSE) • 15-METRIC TALLY: AX 5 — HSBC 3

▲ FORWARD P/E MULTIPLE LEADER: AX

LAST: $90.38 (-2.35%) • MKT CAP: $5.26B

forward-pe

11.3x

LAST: $85.42 (-1.36%) • MKT CAP: $297.33B

forward-pe

27.6x

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AX VS. HSBC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	AX	HSBC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	14.80%	9.90%	+4.90	AX	/roic <GO>
EV/EBITDA & P/E Valuation	—	21.0x	—	TIE	/valuation <GO>
Free Cash Flow Yield	9.32%	2.21%	+7.11	AX	/fcf-yield <GO>
Operating Margin	—	13.90%	—	TIE	/operating-margins <GO>
Net Profit Margin	68.00%	10.90%	+57.10	AX	/net-margins <GO>
Revenue Growth (YoY)	1.80%	23.10%	-21.30	HSBC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	8/9	-4.00	HSBC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	56.9	30.2	+26.70	AX	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	0.92	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple ACTIVE	11.3x	27.6x	-16.30	AX	/forward-pe <GO>
Enterprise Scale & Market Cap	$5.26B	$297.33B	-$292.06B	HSBC	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	AX REV	HSBC REV	AX GROSS %	HSBC GROSS %	AX FCF	HSBC FCF
FY 2025	$65.8M	—	—	—	$490.3M	—
FY 2024	$64.6M	—	—	—	$305.5M	—
FY 2023	$65.3M	—	—	—	$196.7M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AX // BETA —

HSBC // BETA 0.92