Revenue scaled to $736.3M in 2025Q4, though gross margins experienced notable compression from historical peaks above 90% to 70.6% during the same period.
| Net Interest Income | 5.73M | -98.97M | -50.42M | -28.27M | -14.78M | -12.37M | -12.41M | -11.42M | -10.82M |
| NII Growth % | -124.64% | -96.3% | -78.33% | -91.32% | -19.44% | 0.32% | -8.7% | -5.51% | - |
| Net Interest Margin % | 0.15% | -2.46% | -1.41% | -1.23% | -0.84% | -0.75% | -3.78% | -3.66% | -5.35% |
| Interest Income | 48.87M | 1.02M | 19.75M | 5.27M | 390K | 197K | 0 | 800K | 1.02M |
| Interest Expense | 43.13M | 99.99M | 70.17M | 33.54M | 15.17M | 12.57M | 12.41M | 12.19M | 11.8M |
| Loan Loss Provision | 287.87M | -43.54M | 141.42M | 37.32M | 128.37M | 141.46M | 61.96M | 50.34M | 32.39M |
| Non-Interest Income | 1.59B | 957.19M | 645.35M | 559.51M | 501.88M | 493.24M | 348.72M | 316.16M | 178.31M |
| Non-Interest Income % | 97.02% | 99.89% | 97.03% | 99.07% | 99.92% | 99.96% | 100% | 99.75% | 99.43% |
| Total Revenue | 1.64B | 958.2M | 665.1M | 564.78M | 502.27M | 493.44M | 348.72M | 316.96M | 179.33M |
| Revenue Growth % | 474.85% | 44.07% | 17.76% | 12.45% | 1.79% | 41.5% | 10.02% | 76.74% | - |
| Non-Interest Expense | 1.14B | 528.89M | 264.71M | 291.77M | 179.99M | 96.95M | 58.7M | 71M | 53.69M |
| Efficiency Ratio | 69.75% | 55.2% | 39.8% | 51.66% | 35.83% | 19.65% | 16.83% | 22.4% | 29.94% |
| Operating Income | 165.16M | 372.87M | 188.8M | 202.16M | 178.75M | 242.46M | 215.65M | 183.43M | 81.45M |
| Operating Margin % | 10.07% | 38.91% | 28.39% | 35.79% | 35.59% | 49.14% | 61.84% | 57.87% | 45.42% |
| Operating Income Growth % | - | 97.49% | -6.6% | 13.1% | -26.28% | 12.43% | 17.56% | 125.21% | - |
| Pretax Income | 551.75M | 256.89M | 161.95M | 269.38M | 271.81M | 257.84M | 212.6M | 192.12M | 77.7M |
| Pretax Margin % | 33.64% | 26.81% | 24.35% | 47.7% | 54.12% | 52.25% | 60.97% | 60.61% | 43.33% |
| Income Tax | 107.69M | 41.9M | 45.98M | 49.93M | 52.41M | 49.23M | 43.45M | 36.48M | 21.02M |
| Effective Tax Rate % | 19.52% | 16.31% | 28.39% | 18.53% | 19.28% | 19.09% | 20.44% | 18.99% | 27.06% |
| Net Income | 443.17M | 213.31M | 118.2M | 220.61M | 219.42M | 208.62M | 170.2M | 151.37M | 56.61M |
| Net Margin % | 27.02% | 22.26% | 17.77% | 39.06% | 43.69% | 42.28% | 48.81% | 47.76% | 31.57% |
| Net Income Growth % | 246.3% | 80.46% | -46.42% | 0.54% | 5.18% | 22.57% | 12.44% | 167.38% | - |
| Net Income (Continuing) | 444.06M | 214.99M | 115.97M | 219.46M | 219.4M | 208.62M | 169.15M | 155.63M | 56.68M |
| EPS (Diluted) | 6.77 | 3.12 | 2.08 | 3.98 | 3.84 | 3.77 | 19.60 | 2.73 | 1.02 |
| EPS Growth % | 143.56% | 50% | -47.74% | 3.65% | 1.86% | -80.77% | 617.95% | 167.65% | - |
| EPS (Basic) | - | 3.34 | 2.14 | 4.02 | 3.89 | 3.77 | 19.60 | 17.43 | 1.02 |
| Diluted Shares Outstanding | 65.42M | 67.76M | 56.92M | 55.41M | 55.34M | 55.39M | 55.52M | 55.52M | 55.52M |
Integration and execution risk
As indicated by the recent quarterly financial data, VINP achieved a significant revenue surge to $736.3M in 2025Q4, reflecting the successful consolidation of the Compass business and a broader expansion of its alternative asset management footprint across the Latin American financial services landscape.
The sharp revenue increase suggests that the firm is successfully capturing synergies from its rebranding and regional platform expansion. Investors should monitor whether this growth is sustainable or if it remains heavily dependent on the lumpy realization of performance fees from legacy private equity vintages.
Based on reported income statements, VINP's gross margin experienced notable fluctuations, dropping to 70.6% in 2025Q4 from historical peaks exceeding 90%, which likely reflects the integration of lower-margin advisory or brokerage-style revenue streams following the Compass merger.
The compression in gross margins suggests a shift in the underlying business mix toward more capital-intensive or service-heavy solutions. This transition warrants further investigation to determine if the firm is sacrificing its high-margin boutique status for broader, yet less profitable, market share.
According to the provided quarterly figures, VINP's operating margin turned negative in 2025Q3 at -49.2% before recovering to 26.2% in 2025Q4, highlighting the significant overhead and integration costs associated with scaling the firm's regional infrastructure and human capital base.
The erratic operating performance indicates that the firm is currently in a high-investment phase where SG&A expenses are not yet scaling efficiently with revenue. Analysts should watch for a stabilization in operating expenses as the Compass integration matures and the firm realizes potential economies of scale.
As reported in recent filings, VINP's net income has remained resilient despite operational volatility, with a 2025Q4 net margin of 20.5%, though the divergence between operating income and net income suggests that non-operating items or tax adjustments are significantly influencing the bottom line.
The reliance on non-operating income to bolster net results may obscure the underlying profitability of the core asset management business. Investors should scrutinize the sustainability of these earnings, particularly given the potential for future volatility in performance fee recognition and the impact of stock-based compensation.
While VINP's growth trajectory appears robust, the 2024Q4 net margin of 0.5% serves as a cautionary signal, suggesting that the firm's profitability is highly sensitive to market cycles and the timing of performance fee crystallization in its private market funds.
Short-sellers may focus on the firm's vulnerability to a downturn in the Brazilian SELIC rate, which could trigger a rotation of capital away from alternative assets. The current reliance on performance-based revenue streams may lead to significant earnings disappointment if exit environments for private equity and real estate assets deteriorate.
Quick answers to the most common questions about buying VINP stock.
Vinci Compass Investments Ltd. (VINP) is profitable, generating $213.3M in net income for the fiscal year ending 2025 with a net profit margin of 22.3%.
Vinci Compass Investments Ltd. (VINP) reported an operating income of $372.9M, resulting in an operating profit margin of 38.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Vinci Compass Investments Ltd. (VINP) generated $901.8M in gross profit for the year, representing a gross profit margin of 94.1%. This demonstrates the company's core pricing power and production efficiency.