Citigroup Inc (C) is overvalued and HSBC Holdings plc ADR (HSBC) is slightly overvalued.
Both trade above our estimate of their intrinsic value. HSBC is the closer of the two: -10%, against -37% for C.
Values as of the 22 Sept 2026 close.
Book value at 0.72x, the multiple a 8.3% return on equity justifies, blended with earnings, values the shares at $96.80; the price of $132.47 is 37% above that value.
Leak Score 30/100 on 10 of 12 signals
Book value at 2.00x, the multiple a 14.0% return on equity justifies, blended with earnings, values the shares at $92.20; the price of $101.59 is 10% above that value.
Leak Score 0/100 on 3 of 12 signals
| Metric | C | HSBC |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $132.47 | $101.59 |
| Intrinsic value | $96.80 | $92.20 |
| Margin of safety | -37% | -10% |
| Leak Score | 30/100 (10/12) | 0/100 (3/12) |
| Market cap | $222.2B | $348.4B |
| Revenue growth, 5 years | 13.7% | 12.1% |
| Operating margin | 14.3% | 15.3% |
| Net margin | 9.3% | 17.8% |
| Return on equity | 8.3% | 14.0% |
| Debt to equity | 3.85 | 3.29 |
| P/E | 14.3x | 14.6x |
| Forward P/E | 10.3x | 10.8x |
| P/B | 1.1x | 2.0x |
| Dividend yield | 1.9% | 4.1% |