Itaú Unibanco Holding S.A. (ITUB) Financial Ratios
25 years of historical data (2001–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
20.57
↑+63% vs avg
5yr avg: 12.61
30Y Low4.3·High48.1
P/FCF
↓
3.46
↑+425% vs avg
5yr avg: 0.66
30Y Low0.3·High16.0
P/B Ratio
↑
2.09
↑+658% vs avg
5yr avg: 0.28
30Y Low0.2·High1.2
ROE
↑
20.6%
↓+12% vs avg
5yr avg: 18.3%
30Y Low12%·High29%
Debt/EBITDA
↑
17.57
+7% vs avg
5yr avg: 16.41
30Y Low4.6·High27.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ITUB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Itaú Unibanco Holding S.A. trades at 10.2x earnings, 557% above its 5-year average of 1.6x, sitting at the 100th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 25%. On a free-cash-flow basis, the stock trades at 3.5x P/FCF, 425% above the 5-year average of 0.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $85.9B | $80.1B | $49.0B | $68.6B | $42.2B | $33.5B | $44.7B | $67.0B | $67.0B | $63.7B | $50.5B |
| Enterprise Value | $229.5B | $822.1B | $690.8B | $654.8B | $552.9B | $382.7B | $430.7B | $455.0B | $468.3B | $453.3B | $593.6B |
| P/E Ratio → | 10.24 | 1.82 | 1.19 | 2.07 | 1.45 | 1.25 | 2.96 | 2.47 | 2.69 | 2.67 | 2.17 |
| P/S Ratio | 1.15 | 0.21 | 0.15 | 0.22 | 0.17 | 0.18 | 0.26 | 0.36 | 0.39 | 0.35 | 0.24 |
| P/B Ratio | 2.09 | 0.37 | 0.22 | 0.34 | 0.24 | 0.20 | 0.29 | 0.45 | 0.44 | 0.44 | 0.38 |
| P/FCF | 3.46 | 0.62 | — | 1.00 | 0.35 | 0.66 | 0.82 | 2.17 | 3.37 | 12.62 | 1.79 |
| P/OCF | 3.43 | 0.62 | — | 0.89 | 0.33 | 0.56 | 0.75 | 1.91 | 2.95 | 7.37 | 1.67 |
P/E links to full P/E history page with 30-year chart
ITUB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Itaú Unibanco Holding S.A.'s enterprise value stands at 20.6x EBITDA, 63% above its 5-year average of 12.6x. The Financial Services sector median is 11.4x, placing the stock at a 81% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.14 | 2.12 | 2.14 | 2.18 | 2.00 | 2.48 | 2.42 | 2.74 | 2.46 | 2.83 |
| EV / EBITDA | 20.57 | 14.26 | 12.79 | 14.44 | 13.33 | 8.24 | 48.08 | 13.07 | 13.70 | 13.43 | 15.25 |
| EV / EBIT | 23.59 | 16.36 | 14.53 | 16.49 | 15.07 | 9.06 | 82.35 | 14.56 | 15.30 | 14.82 | 16.64 |
| EV / FCF | — | 6.41 | — | 9.59 | 4.56 | 7.50 | 7.95 | 14.75 | 23.60 | 89.79 | 21.02 |
ITUB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Itaú Unibanco Holding S.A. earns an operating margin of 13.1%, below the Financial Services sector average of 20.3%. ROE of 20.6% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 3.2% represents below-average returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.5% | 34.5% | 39.6% | 38.1% | 42.8% | 56.5% | 43.5% | 50.0% | 52.4% | 47.5% | 43.9% |
| Operating Margin | 13.1% | 13.1% | 14.6% | 12.9% | 14.5% | 22.1% | 3.0% | 16.6% | 17.9% | 16.6% | 17.0% |
| Net Profit Margin | 11.7% | 11.7% | 12.6% | 10.8% | 11.5% | 14.0% | 10.9% | 14.4% | 14.6% | 12.6% | 10.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.6% | 20.6% | 19.5% | 17.6% | 17.1% | 16.8% | 12.4% | 18.1% | 16.9% | 16.8% | 17.6% |
| ROA | 1.5% | 1.5% | 1.5% | 1.4% | 1.3% | 1.3% | 1.0% | 1.7% | 1.7% | 1.7% | 1.6% |
| ROIC | 3.2% | 3.2% | 3.3% | 3.1% | 3.4% | 4.3% | 0.6% | 3.3% | 3.3% | 3.1% | 3.6% |
| ROCE | 2.8% | 2.8% | 4.4% | 4.0% | 4.1% | 5.2% | 0.7% | 4.5% | 4.8% | 5.1% | 6.3% |
ITUB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Itaú Unibanco Holding S.A. carries a Debt/EBITDA ratio of 17.6x, which is highly leveraged (312% above the sector average of 4.3x). Net debt stands at $742.0B ($1.0T total debt minus $270.6B cash). Interest coverage of just 0.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.71 | 4.71 | 4.09 | 4.09 | 4.07 | 3.49 | 3.74 | 3.64 | 3.72 | 3.71 | 5.06 |
| Debt / EBITDA | 17.57 | 17.57 | 16.77 | 17.96 | 17.39 | 12.36 | 64.51 | 15.63 | 16.36 | 15.89 | 17.21 |
| Net Debt / Equity | — | 3.45 | 2.90 | 2.95 | 2.88 | 2.12 | 2.50 | 2.60 | 2.67 | 2.70 | 4.10 |
| Net Debt / EBITDA | 12.87 | 12.87 | 11.89 | 12.93 | 12.31 | 7.52 | 43.09 | 11.15 | 11.74 | 11.54 | 13.95 |
| Debt / FCF | — | 5.79 | — | 8.58 | 4.22 | 6.84 | 7.12 | 12.58 | 20.22 | 77.17 | 19.23 |
| Interest Coverage | 0.23 | 0.23 | 0.28 | 0.25 | 0.31 | 0.61 | 0.07 | 0.41 | 0.43 | 0.39 | 0.38 |
ITUB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.35x is below 1.0, meaning current liabilities exceed current assets — though the company's $270.6B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 0.47x to 0.35x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.35 | 0.35 | 0.44 | 0.47 | 0.49 | 0.47 | 0.52 | 0.57 | 0.61 | 0.89 | 0.83 |
| Quick Ratio | 0.35 | 0.35 | 0.44 | 0.47 | 0.49 | 0.47 | 0.52 | 0.57 | 0.61 | 0.89 | 0.83 |
| Cash Ratio | 0.46 | 0.46 | 0.16 | 0.15 | 0.16 | 0.18 | 0.16 | 0.17 | 0.18 | 0.18 | 0.16 |
| Asset Turnover | — | 0.13 | 0.11 | 0.12 | 0.11 | 0.09 | 0.09 | 0.12 | 0.11 | 0.13 | 0.16 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
ITUB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Itaú Unibanco Holding S.A. returns 11.2% to shareholders annually — split between a 10.5% dividend yield and 0.7% buyback yield. The payout ratio exceeds 100% at 105.6%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 9.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.5% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 105.6% | 105.6% | 51.9% | 31.3% | 23.0% | 23.4% | 61.1% | 95.6% | 80.7% | 46.6% | 35.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.8% | 54.9% | 83.8% | 48.3% | 69.2% | 79.8% | 33.8% | 40.4% | 37.2% | 37.4% | 46.0% |
| FCF Yield | 28.9% | 160.1% | — | 99.6% | 287.1% | 152.2% | 121.2% | 46.0% | 29.6% | 7.9% | 55.9% |
| Buyback Yield | 0.7% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 11.2% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $11.2B | $10.9B | $10.9B | $9.9B | $9.8B | $9.8B | $9.8B | $9.8B | $9.8B | $9.9B |
Peer Comparison
Compare ITUB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ITUBYou | $86B | 10.2 | 20.6 | 3.5 | 34.5% | 13.1% | 20.6% | 3.2% | 17.6 |
 BBD | $36B | 7.9 | — | — | 34.6% | -1.1% | 13.3% | -0.3% | — |
 BSBR | $39B | 16.5 | 6.7 | 150.5 | 27.5% | 11.0% | 10.4% | 4.9% | 6.7 |
 GFI | $35B | 28.0 | 13.5 | 48.7 | 42.5% | 40.2% | 24.9% | 24.0% | 1.1 |
 BBAR | $4B | 20.8 | 6.0 | 4.0 | 54.8% | 9.2% | 10.2% | 9.2% | 3.1 |
 BMA | $7B | 28.2 | 10.8 | — | 50.5% | 10.2% | 7.3% | 7.9% | 2.2 |
 GGAL | $9B | 58.0 | 14.5 | 329.3 | 41.3% | 2.5% | 3.3% | 2.6% | 6.7 |
 CIB | $19B | 9.9 | 7.1 | 6.7 | 61.1% | 20.8% | 15.8% | 9.9% | 2.2 |
 SAN | $198B | 13.6 | 22.4 | — | 40.0% | 15.6% | 12.8% | 2.3% | 22.7 |
 BBVA | $137B | 12.7 | 6.1 | 8.5 | 83.6% | 43.9% | 17.3% | 7.0% | 4.6 |
 BAP | $30B | 14.9 | 8.7 | 13.3 | 73.7% | 34.4% | 19.2% | 10.3% | 3.2 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 25 years · Updated daily
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ITUB — Frequently Asked Questions
Quick answers to the most common questions about buying ITUB stock.
What is Itaú Unibanco Holding S.A.'s P/E ratio?
Itaú Unibanco Holding S.A.'s current P/E ratio is 10.2x. The historical average is 3.3x. This places it at the 100th percentile of its historical range.
What is Itaú Unibanco Holding S.A.'s EV/EBITDA?
Itaú Unibanco Holding S.A.'s current EV/EBITDA is 20.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.5x.
What is Itaú Unibanco Holding S.A.'s ROE?
Itaú Unibanco Holding S.A.'s return on equity (ROE) is 20.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 20.4%.
Is ITUB stock overvalued?
Based on historical data, Itaú Unibanco Holding S.A. is trading at a P/E of 10.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Itaú Unibanco Holding S.A.'s dividend yield?
Itaú Unibanco Holding S.A.'s current dividend yield is 10.52% with a payout ratio of 105.6%.
What are Itaú Unibanco Holding S.A.'s profit margins?
Itaú Unibanco Holding S.A. has 34.5% gross margin and 13.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Itaú Unibanco Holding S.A. have?
Itaú Unibanco Holding S.A.'s Debt/EBITDA ratio is 17.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.