HSBC Holdings (HSBA.L) enters the next three years from a position of strength but with clear crosswinds. Over the past 12 months the share price is up 45.67%, outpacing the S&P 500’s 18.47%, and sits near a 52‑week high of 981.80 (low: 645.50). Under the hood, trailing‑twelve‑month revenue is 56.21B and net income attributable to common is 17.84B, supporting robust profit and operating margins of 33.67% and 46.56%. Yet normalization is visible: quarterly revenue growth is -11.0% year over year and quarterly earnings growth is -27.5%. Balance‑sheet liquidity remains substantial (total cash 1.11T versus total debt 746.42B), with return on equity at 10.13% and beta of 0.52. Income investors will note a forward annual dividend yield of 5.18% with a 63.79% payout ratio. These markers frame HSBC’s risk‑reward into 2026–2028.

NN Group (NN.AS) enters the next three years with improving market sentiment, a high yield and a still-modest valuation. The shares are up 29.13% over 12 months, closing at 57.90 on September 5, 2025, with a 52-week high of 63.58 and beta of 0.62. Fundamentals show scale and profitability: revenue of 14.45B (ttm), profit margin 9.17% and operating margin 36.83%, alongside robust quarterly revenue growth of 35.70% year on year. Valuation screens undemanding at a trailing P/E of 12.37, forward P/E of 7.04 and price-to-book of 0.71. Income remains central with a forward dividend yield of 6.11% on a 3.54 payout and a 73.50% payout ratio. Recent coverage has turned incrementally constructive, with JPMorgan lifting its price target by EUR 5 and a consensus “Hold” call reported by ETF Daily News.

As of September 2025, BP PLC (BP.L) enters the next three years balancing income appeal with cyclical risks. The shares trade near 415.65, within a 52‑week range of 329.20–472.25, and exhibit a low 5‑year beta of 0.42. Fundamentals show scale (revenue ttm 184.81B) but thin accounting profitability (profit margin 0.31%; operating margin 9.13%) alongside robust cash generation (operating cash flow 23.29B; levered free cash flow 9.31B). The balance sheet holds 35.31B cash against 74.98B debt (debt/equity 93.99%) with a 1.21 current ratio. Income investors focus on a forward dividend yield of 5.74% (rate 0.25), though the high payout ratio reflects low reported EPS. With quarterly revenue down 1.30% year over year and sector conditions in flux, the base case hinges on disciplined capex, steady operations and commodity price stability.

Reckitt Benckiser (RKT.L) heads into the next three years from a position of relative strength but with clear trade‑offs. The shares recently closed at 5,710, near a 52‑week high of 5,722 and up 25.12% over 12 months, sitting above the 50‑day and 200‑day moving averages. Fundamentals show resilient profitability (21.46% operating margin; 8.88% net margin) on trailing‑twelve‑month revenue of 13.98B, yet near‑term momentum has softened: quarterly revenue fell 2.60% year over year and quarterly earnings declined 16.10%. Balance‑sheet flexibility is serviceable but not unconstrained, with 9.4B total debt, 963M cash, a 0.56 current ratio and debt/equity of 148.11%. The defensive profile (beta 0.07) and a forward dividend yield of 3.63% support the case for patience, though a 110.14% payout ratio puts the onus on cash generation and an earnings recovery to sustain current distributions.