Last 47 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Itaú Unibanco Holding S.A.'s quarterly P/E stands at 1.9x, up 79.2% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 8.5% YoY to 13.2x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 10.22 | 1.92 | 1.82 | 1.66 | 1.33 | 1.07 | 1.68 | 1.30 | 1.57 | 1.78 | 1.44 | 1.54 | 1.48 |
| — | +79.2% | +8.1% | +27.9% | -15.2% | -39.5% | +17.1% | -15.5% | +6.7% | +26.1% | -4.7% | +17.2% | -22.6% | |
| P/S Ratio | 1.15 | 0.25 | 0.21 | 0.18 | 0.15 | 0.15 | 0.22 | 0.16 | 0.20 | 0.21 | 0.15 | 0.16 | 0.15 |
| — | +70.1% | -5.7% | +16.4% | -25.7% | -28.8% | +45.5% | -4.7% | +34.9% | +68.9% | -13.4% | -5.3% | -33.2% | |
| P/B Ratio | 2.09 | 0.43 | 0.35 | 0.34 | 0.27 | 0.22 | 0.31 | 0.26 | 0.32 | 0.31 | 0.25 | 0.28 | 0.24 |
| — | +95.3% | +13.1% | +30.7% | -17.0% | -29.4% | +24.7% | -7.6% | +33.4% | +31.5% | -6.3% | +22.6% | -23.4% | |
| P/FCF | 3.45 | 0.52 | 0.27 | 1.52 | — | 2.35 | — | — | 0.33 | — | — | 1.21 | 0.25 |
| — | -78.0% | — | — | — | — | — | — | +30.9% | — | — | +616.6% | -43.9% | |
| EV / EBITDA | 20.55 | 13.18 | 12.48 | 16.67 | 12.14 | 12.15 | 15.52 | 12.35 | 12.13 | 14.11 | 12.79 | 11.96 | 14.55 |
| — | +8.5% | -19.6% | +35.0% | +0.1% | -13.9% | +21.3% | +3.3% | -16.7% | -1.9% | -2.8% | +8.5% | +35.0% | |
| EV / EBIT | 23.57 | 14.92 | 14.52 | 19.49 | 13.71 | 13.21 | 18.09 | 13.91 | 13.66 | 16.08 | 15.09 | 13.57 | 17.09 |
| — | +13.0% | -19.7% | +40.1% | +0.3% | -17.9% | +19.8% | +2.5% | -20.1% | -2.1% | +1.5% | +9.9% | +40.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Itaú Unibanco Holding S.A.'s operating margin was 15.3% in Q4 2025, up 1.0 pp QoQ and down 0.7 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 13.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 19.4% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.5% | 37.6% | 35.6% | 29.6% | 35.7% | 31.5% | 43.9% | 38.8% | 40.1% | 40.7% | 40.4% | 38.0% | 35.5% |
| — | +19.4% | -19.1% | -23.8% | -11.0% | -22.7% | +8.7% | +2.1% | +12.9% | +0.8% | -1.3% | -21.7% | -23.1% | |
| Operating Margin | 13.1% | 15.3% | 14.3% | 9.5% | 13.6% | 15.9% | 13.3% | 14.6% | 15.6% | 13.5% | 13.1% | 13.5% | 11.1% |
| — | -4.1% | +7.3% | -34.9% | -13.3% | +17.7% | +1.8% | +8.1% | +40.4% | +36.9% | -8.9% | -24.3% | -29.7% | |
| Net Margin | 11.7% | 13.0% | 11.8% | 10.9% | 11.1% | 13.2% | 13.8% | 12.0% | 12.6% | 11.8% | 10.4% | 10.7% | 9.9% |
| — | -1.5% | -14.6% | -8.6% | -12.0% | +12.1% | +32.2% | +12.3% | +26.3% | +33.6% | -12.4% | -18.9% | -13.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.6% | 5.4% | 5.1% | 5.2% | 4.9% | 5.0% | 5.0% | 5.1% | 5.0% | 4.5% | 4.4% | 4.7% | 4.1% |
| — | +8.0% | +1.8% | +2.1% | -2.7% | +11.9% | +14.4% | +9.2% | +21.8% | +4.7% | -5.9% | +5.5% | +0.7% | |
| ROA | 1.5% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.3% | 0.4% | 0.3% |
| — | +2.5% | +2.7% | +3.8% | -2.5% | +10.7% | +11.4% | +5.7% | +22.0% | +6.6% | -5.3% | +3.7% | -3.1% | |
| ROIC | 3.2% | 0.9% | 0.9% | 0.6% | 0.9% | 0.9% | 0.7% | 0.9% | 0.9% | 0.8% | 0.8% | 0.9% | 0.7% |
| — | -1.5% | +27.4% | -26.9% | -4.0% | +16.7% | -15.1% | -0.6% | +31.7% | +7.0% | -4.2% | -6.8% | -25.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Itaú Unibanco Holding S.A.'s Debt/EBITDA ratio is 63.9x, up from 61.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 20.6% YoY to 0.35x, tightening the short-term liquidity position. Debt/Equity has risen for 5 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.71 | 4.71 | 4.37 | 4.29 | 4.29 | 4.09 | 4.29 | 4.33 | 4.30 | 4.09 | 4.20 | 4.02 | 4.04 |
| — | +15.1% | +2.0% | -1.0% | -0.3% | +0.0% | +1.9% | +7.8% | +6.5% | +0.5% | +0.3% | +5.2% | +9.2% | |
| Debt / EBITDA | 17.57 | 63.95 | 61.51 | 83.05 | 62.22 | 63.68 | 77.52 | 63.63 | 60.56 | 70.87 | 65.55 | 61.42 | 75.82 |
| — | +0.4% | -20.7% | +30.5% | +2.7% | -10.1% | +18.3% | +3.6% | -20.1% | -5.6% | -2.6% | +6.1% | +29.9% | |
| Current Ratio | 0.35 | 0.35 | 0.27 | 0.27 | 0.24 | 0.44 | 0.46 | 0.42 | 0.45 | 0.47 | 0.50 | 0.48 | 0.50 |
| — | -20.6% | -42.6% | -36.5% | -46.6% | -7.3% | -6.8% | -10.8% | -8.8% | -3.9% | -1.5% | +3.6% | +10.1% | |
| Quick Ratio | 0.35 | 0.35 | 0.27 | 0.27 | 0.24 | 0.44 | 0.46 | 0.42 | 0.45 | 0.47 | 0.50 | 0.48 | 0.50 |
| — | -20.6% | -42.6% | -36.5% | -46.6% | -7.3% | -6.8% | -10.8% | -8.8% | -3.9% | -1.5% | +3.6% | +10.1% | |
| Interest Coverage | 0.23 | 0.28 | 0.25 | 0.15 | 0.25 | 0.27 | 0.27 | 0.28 | 0.32 | 0.27 | 0.26 | 0.26 | 0.21 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying ITUB stock.
Itaú Unibanco Holding S.A.'s current P/E is 10.2x. The average P/E over the last 4 quarters is 1.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Itaú Unibanco Holding S.A.'s current operating margin is 13.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Itaú Unibanco Holding S.A.'s business trajectory between earnings reports.