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XP Inc.

XP

NASDAQFinancial ServicesFinancial - Capital Markets

Previous close

$16.81

+$0.82 · +5.13%

Aug 21, 4:00 PM ET

XP company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

99

Deep Value

Momentum

41

Neutral

Sentiment

50

Mixed

Risk resilience

57

Elevated Risk

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Company profile

Company website

XP Inc. provides financial products and services in Brazil. The company operates XP Platform, an open product platform that provides clients to access investment products in the market comprising brokerage securities, fixed income securities, mutual, hedge, and private equity funds; derivatives and synthetic instruments; credit cards; loan operations/collateralized credit products; pension and social security funds, and life and travel insurance products; and other investment products comprising real estate funds, and equity and debt capital markets solutions, as well as wealth management services. It offers brokerage and issuer services to institutional and corporate clients. The company also manages mutual funds focused on stocks and macro strategies distributed to retail and to institutional clients; funds and managed portfolios for high-net-worth retail clients, and proprietary treasury funds; and passive mutual funds that track market indexes, and mutual and investment funds focused on fixed income, credit, real estate, infrastructure, and other alternative strategies. In addition, it offers securities brokerage services for institutional and retail investors; interdealer brokerage services for institutional traders; and commercial and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits, as well as develops and sells financial education courses and events online and in person to retail clients. The company offers its sell products and services through its omni-channel distribution network and online portals. XP Inc. was founded in 2001 and is based in George Town, the Cayman Islands.

Industry
Financial - Capital Markets
Sector
Financial Services
Headquarters
KY
CEO
Thiago Maffra
Listed since
Dec 11, 2019
Employees
8,069

Market position

Day range

Current $16.81

52-week range

Current $16.81

Open
$16.225
Previous close
$15.99
Volume
6.6M
1.25× average
Average volume
5.29M
Average daily volume
Market cap
8.79B USD
Beta
1.1
Market reference 1
50-day average
$16.2946
+3.16% above average
200-day average
$18.0464
-6.85% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
122.22B BRL
P/E (TTM)
8.41×
P/B (TTM)
1.79×
P/S (TTM)
2.34×
EV / EBITDA
19.55×
Earnings yield
10.72%
Free cash flow yield
25.03%
Dividend yield
2.26%

Profitability & efficiency

Gross margin
66.69%
Operating margin
31.83%
Net margin
27.59%
Return on equity
21.52%
Return on assets
1.28%
Return on invested capital
1.42%

Financial health

Debt / equity
3.74×
Current ratio
0.56×
Altman Z-score
0.05
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends73%56%39%22%Gross margin, FY2021: 68.81%Gross margin, FY2022: 68.71%Gross margin, FY2023: 67.43%Gross margin, FY2024: 67.71%Gross margin, FY2025: 67.36%Operating margin, FY2021: 32.02%Operating margin, FY2022: 28.55%Operating margin, FY2023: 30.68%Operating margin, FY2024: 33.19%Operating margin, FY2025: 32.42%Net margin, FY2021: 28.75%Net margin, FY2022: 26.14%Net margin, FY2023: 25.89%Net margin, FY2024: 26.06%Net margin, FY2025: 27.79%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 68.81%. Gross margin FY2022 68.71%. Gross margin FY2023 67.43%. Gross margin FY2024 67.71%. Gross margin FY2025 67.36%. Operating margin FY2021 32.02%. Operating margin FY2022 28.55%. Operating margin FY2023 30.68%. Operating margin FY2024 33.19%. Operating margin FY2025 32.42%. Net margin FY2021 28.75%. Net margin FY2022 26.14%. Net margin FY2023 25.89%. Net margin FY2024 26.06%. Net margin FY2025 27.79%.

Income trends

Revenue

18.24B BRL-8.21%

Operating income

5.91B BRL-10.34%

Net income

5.07B BRL-2.11%
Income trends across reported periods21.49B BRL15.02B BRL8.56B BRL2.09B BRLRevenue, FY2021: 12.97B BRLRevenue, FY2022: 14.18B BRLRevenue, FY2023: 14.82B BRLRevenue, FY2024: 19.87B BRLRevenue, FY2025: 18.24B BRLOperating income, FY2021: 4.15B BRLOperating income, FY2022: 4.05B BRLOperating income, FY2023: 4.55B BRLOperating income, FY2024: 6.6B BRLOperating income, FY2025: 5.91B BRLNet income, FY2021: 3.73B BRLNet income, FY2022: 3.71B BRLNet income, FY2023: 3.84B BRLNet income, FY2024: 5.18B BRLNet income, FY2025: 5.07B BRLFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 12.97B BRL. Revenue FY2022 14.18B BRL. Revenue FY2023 14.82B BRL. Revenue FY2024 19.87B BRL. Revenue FY2025 18.24B BRL. Operating income FY2021 4.15B BRL. Operating income FY2022 4.05B BRL. Operating income FY2023 4.55B BRL. Operating income FY2024 6.6B BRL. Operating income FY2025 5.91B BRL. Net income FY2021 3.73B BRL. Net income FY2022 3.71B BRL. Net income FY2023 3.84B BRL. Net income FY2024 5.18B BRL. Net income FY2025 5.07B BRL.
Metric (BRL)FY2025FY2024FY2023FY2022FY2021
Revenue18.24B BRL19.87B BRL14.82B BRL14.18B BRL12.97B BRL
Cost of goods sold5.95B BRL6.42B BRL4.83B BRL4.44B BRL4.05B BRL
Gross profit12.29B BRL13.45B BRL9.99B BRL9.74B BRL8.93B BRL
Operating expenses6.37B BRL6.86B BRL5.45B BRL5.7B BRL4.77B BRL
Interest income10.23B BRL11.05B BRL8.21B BRL7.69B BRL6.12B BRL
Interest expense613.12M BRL894.2M BRL607.62M BRL416.73M BRL141.07M BRL
Depreciation and amortization298.17M BRL304.36M BRL248.38M BRL213.26M BRL240.84M BRL
Operating income5.91B BRL6.6B BRL4.55B BRL4.05B BRL4.15B BRL
Net income5.07B BRL5.18B BRL3.84B BRL3.71B BRL3.73B BRL

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
-6.79%
11 comparable reports
Latest EPS result
0.53
Estimate 0.5 · Beat by 6.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.570.490.40.32Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 18, 2025: actual 0.38, estimate 0.356, surprise +6.86%, Beat. Q2 2025, reported May 20, 2025: actual 0.39, estimate 0.4, surprise -2.50%, Miss. Q3 2025, reported Aug 18, 2025: actual 0.43, estimate 0.43, surprise +0.05%, Beat. Q4 2025, reported Nov 17, 2025: actual 0.45, estimate 0.457, surprise -1.53%, Miss. Q1 2026, reported Feb 12, 2026: actual 0.46, estimate 0.45, surprise +2.22%, Beat. Q2 2026, reported May 18, 2026: actual 0.47, estimate 0.487, surprise -3.55%, Miss. Q3 2026, reported Aug 17, 2026: actual 0.53, estimate 0.5, surprise +6.00%, Beat. Q4 2026, reported Nov 16, 2026: actual —, estimate 0.53, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.02B905.31M792.75M680.19MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 18, 2025: actual 723.75M USD, estimate 719.34M USD, surprise +0.61%, Beat. Q2 2025, reported May 20, 2025: actual 739.55M USD, estimate 779.16M USD, surprise -5.08%, Miss. Q3 2025, reported Aug 18, 2025: actual 806.82M USD, estimate 832.08M USD, surprise -3.04%, Miss. Q4 2025, reported Nov 17, 2025: actual 847.03M USD, estimate 875.6M USD, surprise -3.26%, Miss. Q1 2026, reported Feb 12, 2026: actual 901.58M USD, estimate 866.1M USD, surprise +4.10%, Beat. Q2 2026, reported May 18, 2026: actual 909.68M USD, estimate 925.72M USD, surprise -1.73%, Miss. Q3 2026, reported Aug 17, 2026: actual 941.64M USD, estimate 935.15M USD, surprise +0.69%, Beat. Q4 2026, reported Nov 16, 2026: actual —, estimate 978.72M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

9 ratings
Strong buy00%
Buy778%
Hold222%
Sell00%
Strong sell00%

Recent analyst actions

7 institutions
Banco Bradesco BBI S.AupgradeNeutralOutperform

Corporate actions

Corporate action history

Dividend

Ex-dividend Jun 10, 2026

$0.20

Semi-Annual

Record Jun 10, 2026 · Payment Jun 18, 2026

Dividend

Ex-dividend Dec 10, 2025

$0.18

Annual

Record Dec 10, 2025 · Payment Dec 18, 2025

Dividend

Ex-dividend Dec 10, 2024

$0.65

Annual

Record Dec 10, 2024 · Payment Dec 18, 2024

Dividend

Ex-dividend Dec 12, 2023

$0.73

Quarterly

Record Dec 13, 2023 · Payment Dec 22, 2023

Dividend

Ex-dividend Sep 11, 2023

$0.585

Irregular

Record Sep 12, 2023 · Payment Sep 25, 2023

XP peers

ETFs holding XP

Funds reporting this stock among their holdings, ordered by reported position size.

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