Company Overview
XP Inc. engages in the provision of financial products and services in Brazil. It 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. The company offers brokerage and issuer services to institutional and corporate clients. It 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, the company 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. It 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.
Why Investors Should Care
Generates a return on equity of 22.9%, reflecting efficient use of shareholder capital.
Net profit has compounded at 13.0% per year over the last five years.
Revenue has grown at a 10.3% CAGR over the past five years.
Trades at a P/E of 10.4, below the sector median of 13.8.
Maintains a net profit margin of 28.8%.
Generates positive free cash flow, funding growth and shareholder returns internally.
Recent Developments
- Dec 2025 Revenue of $7.97B (+7.3% YoY); net profit $5.17B.
- Trailing 12 Months Year-on-year growth — revenue +9.7%, earnings +8.9%.
- 5-Year Trend Long-term compounding — revenue CAGR 10.3%, profit CAGR 13.0%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 10.28% |
| 1 Year: | 9.70% |
Compounded Profit Growth
| 5 Years: | 13.04% |
| 1 Year: | 8.90% |
Stock Price Performance
| 1 Year: | +9.73% |
| 6 Months: | +2.98% |
| 3 Months: | +23.53% |
| 1 Month: | +23.45% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMAAbove
- Price vs 200-DMAAbove
- RSI (14)62.83 · Neutral
P/E of 10.39 is below the sector median of 13.82 — relatively cheaper than peers.
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Strong return on equity of 22.9%.
- Excellent profit margin of 28.8%.
- Compounding revenue at 10.3% over 5 years.
- Profit CAGR of 13.0% over 5 years.
- Generates positive free cash flow.
CONS
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Financial Services).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | XP XP Inc. R3KFINANCIAL | 19.53 | 10.39 | $8.10B | 1.20% | -2.42% | 22.94% | 10.28% | 13.04% |
| 2 | JPM JPMorgan Chase & Co. SPXR3KFINANCIAL | 348.92 | 14.95 | $927.50B | 1.68% | - | 17.79% | 12.50% | 14.83% |
| 3 | BRK-B Berkshire Hathaway Inc. SPXFINANCIAL | 519.80 | 13.07 | $731.90B | 0.00% | - | 12.12% | 4.18% | 9.44% |
| 4 | V Visa Inc. SPXR3KFINANCIAL | 370.93 | 31.60 | $632.11B | 0.72% | 37.15% | 61.19% | 14.33% | 13.04% |
| 5 | MA Mastercard Incorporated SPXR3KFINANCIAL | 567.75 | 31.20 | $493.64B | 0.60% | 60.19% | - | 12.29% | 19.21% |
| 6 | BAC Bank of America Corporation SPXR3KFINANCIAL | 57.90 | 13.37 | $404.88B | 2.04% | - | 11.20% | 3.14% | 4.27% |
| 7 | BRK-A Berkshire Hathaway Inc. FINANCIAL | 780,297.00 | 13.08 | $381.14B | 0.00% | - | 12.12% | 7.60% | 10.02% |
| 8 | HSBC HSBC Holdings plc FINANCIAL | 100.84 | 14.41 | $345.84B | 3.62% | - | 13.10% | 9.75% | 12.72% |
| 9 | MS Morgan Stanley SPXR3KFINANCIAL | 202.42 | 16.35 | $318.20B | 2.15% | - | 17.97% | 3.76% | 9.66% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Revenue | - | 1.65B | 1.79B | 2.09B | 2.43B | 1.93B |
| Cost of Revenue | - | 1.28B | 1.57B | 1.67B | 1.20B | 1.44B |
| Gross Profit | - | 366.00M | 227.22M | 420.91M | 1.23B | 491.00M |
| Operating Expenses | - | 1.63B | 1.43B | 1.56B | 2.14B | 1.80B |
| Operating Income | - | -1.26B | -1.20B | -1.14B | -907.29M | -1.31B |
| EBITDA | - | 1.51B | 1.57B | 1.55B | 1.75B | 1.45B |
| Interest Expense | - | 177.00M | 175.84M | 141.98M | 130.38M | 103.00M |
| Pretax Income | - | 1.26B | 1.32B | 1.33B | 1.54B | 1.34B |
| Tax Provision | - | 27.00M | -3.51M | 495.00K | 255.62M | 26.00M |
| Net Income | - | 1.24B | 1.32B | 1.32B | 1.30B | 1.32B |
| Diluted EPS | - | 2.32 | 2.46 | 2.47 | - | 2.55 |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | - | 5.94B | 6.53B | 7.42B | 7.97B |
| Cost of Revenue | - | 4.89B | 4.98B | 5.60B | 6.02B |
| Gross Profit | - | 1.05B | 1.56B | 1.82B | 1.95B |
| Operating Expenses | - | 4.61B | 5.42B | 5.74B | 6.47B |
| Operating Income | - | -3.56B | -3.86B | -3.92B | -4.52B |
| EBITDA | - | 4.05B | 4.81B | 6.03B | 6.38B |
| Interest Expense | - | 402.30M | 617.48M | 779.52M | 625.40M |
| Pretax Income | - | 3.44B | 3.94B | 4.99B | 5.45B |
| Tax Provision | - | -135.56M | 36.96M | 471.13M | 279.26M |
| Net Income | - | 3.58B | 3.90B | 4.51B | 5.17B |
| Diluted EPS | - | 6.25 | 7.16 | 8.23 | 9.72 |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Total Assets | 192.03B | 249.04B | 347.46B | 396.53B |
| Current Assets | 76.12B | 119.51B | 158.06B | 148.95B |
| Cash & Equivalents | 3.55B | 3.94B | 5.61B | 10.36B |
| Inventory | - | - | - | - |
| Receivables | 522.12M | 579.50M | 684.84M | 1.13B |
| Total Liabilities | 174.99B | 229.59B | 327.41B | 372.98B |
| Current Liabilities | 105.40B | 124.10B | 196.14B | 209.53B |
| Long Term Debt | 1.87B | 27.73B | 33.29B | 29.57B |
| Total Debt | 33.66B | 68.56B | 115.13B | 104.22B |
| Total Equity | 17.04B | 19.45B | 20.04B | 23.55B |
| Shares Outstanding | 559.46M | 548.44M | 538.75M | 518.83M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | 1.80B | 8.13B | 11.18B | 12.04B |
| Investing Cash Flow | - | -371.28M | 538.81M | -1.67B | -715.97M |
| Financing Cash Flow | - | -200.30M | -4.39B | -5.78B | -4.93B |
| Capital Expenditure | - | -126.97M | -196.22M | -330.21M | -489.57M |
| Free Cash Flow | - | 1.68B | 7.93B | 10.85B | 11.56B |
| Net Change in Cash | - | 1.23B | 4.27B | 3.73B | 6.40B |
Ratios (Annual)
Figures in %.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Gross Margin % | - | 17.6% | 23.8% | 24.5% | 24.5% |
| Operating Margin % | - | -60.0% | -59.2% | -52.7% | -56.7% |
| Net Margin % | - | 60.2% | 59.7% | 60.8% | 64.9% |
| ROE % | - | 21.0% | 20.0% | 22.5% | 22.0% |
| ROCE % | - | -4.1% | -3.1% | -2.6% | -2.4% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 11.75% | 49.00M | $865.25M |
| 2 | Dodge & Cox Inc. | 7.81% | 32.56M | $575.09M |
| 3 | ARGA Investment Management, LP | 5.91% | 24.64M | $435.20M |
| 4 | General Atlantic, L.P. | 4.93% | 20.57M | $363.20M |
| 5 | Capital World Investors | 4.65% | 19.37M | $342.09M |
| 6 | Massachusetts Financial Services Co. | 3.01% | 12.56M | $221.79M |
| 7 | State Street Corporation | 2.33% | 9.70M | $171.23M |
| 8 | Ninety One UK Ltd | 1.93% | 8.06M | $142.31M |
| 9 | FMR, LLC | 1.91% | 7.98M | $140.87M |
| 10 | Arrowstreet Capital, Limited Partnership | 1.69% | 7.03M | $124.10M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for XP
XP Inc (XP) (Q2 2026) Earnings Call Highlights: Record Client Assets and Strategic Resilience ...
XP Inc (XP) reports 8% revenue growth to BRL5.1 billion, with corporate segment surging 117% and ROE improving to 22.5% despite challenging market conditions.
Wall Street Analysts Think XP Inc.A (XP) Could Surge 39.2%: Read This Before Placing a Bet
The mean of analysts' price targets for XP Inc.A (XP) points to a 39.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indic…
XP (XP) Stock May Be 34% Undervalued Following Strong Q2 Earnings
After a difficult run for shareholders over the past five years, XP now screens as cheap on both its intrinsic value estimate and market multiples. This puts fresh attention on whether the current share price reflects the underlying busines…
Is XP (XP) Undervalued On Strong Earnings And Fresh Analyst Optimism?
XP (XP) is back in focus after its second quarter 2026 earnings release. The company reported year on year increases in revenue, net income and diluted earnings per share, alongside recent share repurchase activity. See our latest analysis …
XP Inc. (XP) Beat Estimates. Is a U.S. Banking Operation Growth or Distraction?
XP Inc. (NASDAQ:XP) reported managerial net revenue, a non-GAAP measure, of R$4.884 billion, up 9% and slightly above consensus estimates. IFRS total revenue and income were R$4.849 billion. Adjusted net income increased 5% to R$1.384 billi…
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XP — Frequently Asked Questions
What is the current share price of XP Inc. (XP)?
As of 2026-09-16 18:39 PDT, XP Inc. (XP) trades at $19.53 on NasdaqGS. Its 52-week range is $14.94 to $22.66.
What is the market capitalisation of XP?
XP Inc. (XP) has a market capitalisation of $8.10B on NasdaqGS.
What is the P/E ratio of XP?
XP trades at a trailing price-to-earnings (P/E) ratio of 10.39. The industry average P/E is 13.82. Its price-to-book (P/B) ratio is 1.79.
Does XP pay a dividend?
XP Inc. (XP) currently offers a dividend yield of 1.20%.
What is the return on equity (ROE) of XP?
XP has a return on equity (ROE) of 22.94%. Its return on capital employed (ROCE) is -2.42%.
Is XP a good stock to buy?
This page provides a data-driven analysis of XP Inc. (XP), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.