XP Inc. (XP) 10-Year Financial Performance & Capital Metrics

XP • • Banking & Credit

Financial ServicesCapital MarketsSecurities Brokerage & Wealth ManagementRetail Brokerage Platforms

AboutXP Inc. provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients. The company also offers Xpeed, an online financial education portal that offers seminars, classes, and learning tools to help teach individuals on topics, such as basics of investing, techniques, and investment strategies, as well as insurance brokerage services. In addition, it operates XP Platform, an open product platform that provides clients to access investment products in the market, including equity and fixed income securities, mutual and hedge funds, private equity, structured products, credit cards, loan operations, life insurance, pension plans, real-estate investment funds, and others. The company was founded in 2001 and is based in São Paulo, Brazil.Show more

Net Interest Income -$752M -25.2%
Total Revenue $19.87B +34.1%
Net Income $4.51B +15.8%
Return on Equity 22.85% +7.0%
Net Interest Margin -0.22% +10.3%
Efficiency Ratio 29.22% -21.0%
ROA 1.51% -14.4%
Equity / Assets 5.77% -26.1%
Book Value per Share 36.56 +2.3%
Tangible BV/Share 31.76 +2.0%
Debt/Equity 5.74 +62.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.3%
✓Strong 5Y profit CAGR of 33.1%
✓Efficient operations: 29.2% efficiency ratio
✓Diversified revenue: 99.9% from non-interest income
✓Trading at only 0.5x book value

✗Weaknesses

✗High debt to equity ratio of 5.7x
✗Weak Piotroski F-Score: 3/9
✗Weak NIM of -0.2%
✗Thin capital base

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y47.1%

5Y30.92%

3Y15.27%

TTM-

Profit (Net Income) CAGR

10Y69.11%

5Y33.1%

3Y7.93%

TTM15.52%

EPS CAGR

10Y55.6%

5Y31.29%

3Y9.55%

TTM18.09%

ROCE

10Y Avg-1.91%

5Y Avg-3.47%

3Y Avg-3.74%

Latest-2.83%

Peer Comparison

Retail Brokerage Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SCHWThe Charles Schwab Corporation	182.6B	102.76	34.37	1.87%	22.85%	16.67%	1.12%	0.93
SIEBSiebert Financial Corp.	126.94M	3.14	9.52	16.09%	16.5%	7.95%	6.62%	0.08
XPXP Inc.	7.23B	17.41	2.12	34.1%	22.71%	21.35%	100%	5.74
LGHLLion Group Holding Ltd.	1.03M	2.04	-0.02	-278.75%	87.73%	-446.75%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	0	0	-61.09M	-72.31M	-52.62M	-47.15M	-128.13M	-386.87M	-600.25M	-751.54M
NII Growth %	-	-	-	-0.18%	0.27%	0.1%	-1.72%	-2.02%	-0.55%	-0.25%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	7.35M	0	0	0	31.78M	5.52M	7.6M	15.44M	17.22M	27.98M
Interest Expense	0	0	61.09M	72.31M	84.4M	52.67M	135.73M	402.3M	617.48M	779.52M
Loan Loss Provision	0	376.09M	653.32M	1.08B	7.6M	3.44B	4B	4.44B	4.3B	4.76B
Non-Interest Income+	653.78M	1.18B	2B	3.16B	5.13B	8.59B	12.97B	14.16B	14.8B	19.84B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	661.14M	1.18B	2B	3.16B	5.17B	8.6B	12.97B	14.18B	14.82B	19.87B
Revenue Growth %	0.58%	0.78%	0.7%	0.58%	0.64%	0.66%	0.51%	0.09%	0.04%	0.34%
Non-Interest Expense	476M	500.45M	554.13M	1.08B	1.52B	2.14B	3.99B	4.67B	5.48B	5.81B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	185.13M	-186.66M	15.07M	-179.8M	74.96M	-615.31M	-1.93B	-3.56B	-3.86B	-3.92B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.73%	-2.01%	1.08%	-12.93%	1.42%	-9.21%	-2.13%	-0.85%	-0.08%	-0.01%
Pretax Income+	192.49M	373.92M	575.51M	640.73M	1.54B	2.42B	3.82B	3.44B	3.94B	4.99B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	56.87M	130.15M	151.97M	175.4M	454.63M	339.92M	222.71M	-135.56M	36.96M	471.13M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	75.8M	243.76M	413.87M	461.44M	1.08B	2.08B	3.59B	3.58B	3.9B	4.51B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	2.21%	2.22%	0.7%	0.11%	1.34%	0.92%	0.73%	-0%	0.09%	0.16%
Net Income (Continuing)	135.62M	243.76M	423.54M	465.33M	1.09B	2.08B	3.59B	3.58B	3.9B	4.51B
EPS (Diluted)+	0.31	0.44	0.75	0.84	2.11	3.71	6.26	6.25	7.16	8.23
EPS Growth %	2.13%	0.42%	0.7%	0.12%	1.51%	0.76%	0.69%	-0%	0.15%	0.15%
EPS (Basic)	0.31	0.44	0.75	0.84	2.11	3.76	6.42	6.44	7.16	8.23
Diluted Shares Outstanding	245.54M	551.8M	551.8M	551.8M	511.71M	559.11M	573.5M	573.01M	544.21M	548.32M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	27.6M	14.91M	153.22M	68.41M	109.92M	1.95B	2.49B	3.55B	3.94B	5.61B
Short Term Investments	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	0	0	4.48B	8.1B	27.85B	72.28B	96.63B	140.32B	164.45B	226.95B
Investments Growth %	-	-	-	0.81%	2.44%	1.6%	0.34%	0.45%	0.17%	0.38%
Long-Term Investments	0	0	3.81B	6.51B	24.73B	52.19B	62.89B	102.57B	113.98B	157.65B
Accounts Receivables	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	91M	372.7M	382.5M	382.5M	474.37M	542.75M	595.22M	1.83B	1.92B
Intangible Assets	127.23M	32.27M	110.51M	122.42M	170.95M	239.2M	278.23M	248.96M	668.64M	713.1M
PP&E (Net)	18.92M	28.66M	47.07M	99.13M	369.94M	387.17M	598.47M	569.38M	655.17M	763.1M
Other Assets	3.3B	4.07B	574.61M	1.73B	4.17B	7.62B	11.21B	10.32B	10.28B	25.46B
Total Current Assets	27.6M	14.91M	2B	8.73B	13.52B	34.62B	62.54B	76.12B	119.51B	158.06B
Total Non-Current Assets	3.44B	4.22B	5.14B	8.99B	30.11B	61.41B	76.8B	115.92B	129.53B	189.39B
Total Assets+	3.47B	4.24B	7.14B	17.72B	43.62B	96.03B	139.34B	192.03B	249.04B	347.46B
Asset Growth %	0.39%	0.22%	0.68%	1.48%	1.46%	1.2%	0.45%	0.38%	0.3%	0.4%
Return on Assets (ROA)	0.03%	0.06%	0.07%	0.04%	0.04%	0.03%	0.03%	0.02%	0.02%	0.02%
Accounts Payable	0	0	71.58M	134.58M	266.81M	859.55M	867.53M	617.39M	948.22M	763.47M
Total Debt+	0	0	1.38B	7.52B	17.11B	32.12B	28.21B	35.52B	68.56B	115.13B
Net Debt	-27.6M	-14.91M	1.23B	7.45B	17B	30.17B	25.72B	31.97B	64.62B	109.52B
Long-Term Debt	0	0	736.68M	761.66M	1.36B	266.45M	267.71M	1.87B	27.73B	33.29B
Short-Term Debt	0	0	644.36M	6.76B	15.75B	31.86B	27.94B	33.66B	40.83B	81.84B
Other Liabilities	0	0	1.34B	2.55B	9.62B	24.61B	49.38B	67.62B	77.68B	97.71B
Total Current Liabilities	108.47M	133.93M	3.9B	12.31B	25.48B	60.25B	75.25B	105.4B	124.1B	196.14B
Total Non-Current Liabilities	0	0	2.09B	3.33B	10.99B	24.88B	49.67B	69.59B	105.49B	131.27B
Total Liabilities	108.47M	133.93M	5.98B	15.63B	36.47B	85.13B	124.92B	174.99B	229.59B	327.41B
Total Equity+	616.38M	1.09B	1.15B	2.09B	7.16B	10.9B	14.42B	17.04B	19.45B	20.05B
Equity Growth %	0.27%	0.78%	0.05%	0.82%	2.42%	0.52%	0.32%	0.18%	0.14%	0.03%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.14%	0.28%	0.37%	0.28%	0.23%	0.23%	0.28%	0.23%	0.21%	0.23%
Book Value per Share	2.51	1.98	2.09	3.79	13.98	19.49	25.14	29.74	35.74	36.56
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	85.81M	254.62M	254.62M	21K	23K	23K	23K	24K	26K	26K
Additional Paid-in Capital	0	0	254.62M	927.92M	5.41B	6.82B	0	6.99B	6.42B	5.65B
Retained Earnings	7.25M	51.37M	0	0	0	0	0	0	0	0
Accumulated OCI	302.57M	739.17M	685.73M	2.08B	1.74B	4.07B	14.59B	12.04B	13.15B	14.61B
Treasury Stock	0	0	0	0	0	0	-171.94M	-1.99B	-117.12M	-222.18M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	191.45M	4.78M	262.37M	-456.75M	-3.81B	1.51B	-4.02B	1.8B	8.13B	11.18B
Operating CF Growth %	1.47%	-0.98%	53.93%	-2.74%	-7.35%	1.4%	-3.66%	1.45%	3.51%	0.38%
Net Income	75.8M	373.92M	575.51M	640.73M	1.54B	2.42B	3.82B	3.44B	3.94B	4.99B
Depreciation & Amortization	6.42M	23.07M	27.4M	52.79M	90.71M	143.26M	231.73M	205.88M	252.41M	265.32M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-146.61M	-60.95M	-169.84M	-186.03M	-324.62M	-403.54M	-100.9M	-265.27M	-21.53M	1.33B
Working Capital Changes	255.83M	-331.27M	-170.7M	-964.23M	-5.13B	-883.2M	-8.53B	-2.17B	3.59B	4.18B
Cash from Investing+	-126.9M	-31.64M	-455.63M	-147.08M	-161.45M	-582.01M	-1.15B	-371.28M	538.81M	-1.67B
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0	0	0	0	1000K	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-117.62M	0	-404.63M	-10.41M	0	-290.48M	-797.71M	-244.31M	705.44M	-1.39B
Other Investing	1.67M	-19.18M	-20.63M	-53.52M	-88.95M	-146.37M	-217.57M	-82.41M	-130.22M	-128.59M
Cash from Financing+	-9.3M	82.08M	584.52M	380.09M	4.23B	788.71M	6.64B	-200.3M	-4.39B	-5.78B
Dividends Paid	-81.95M	-174.37M	-190M	-325M	-500M	0	0	0	-3.54B	-2.04B
Share Repurchases	0	0	0	0	0	0	0	-1.81B	-915.86M	-1.35B
Stock Issued	0	0	0	673.29M	4.48B	1.41B	1.13B	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K
Other Financing	72.65M	256.45M	-51.49M	-3.94M	-13M	-4.99M	-3.26M	1.74M	-6M	-996K
Net Change in Cash+	54.9M	48.05M	395.37M	-208.63M	260.93M	1.77B	1.09B	1.22B	4.24B	3.7B
Exchange Rate Effect	-355K	-1000K	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K
Cash at Beginning	337.17M	392.07M	440.13M	835.49M	626.86M	887.8M	2.66B	3.75B	4.97B	9.21B
Cash at End	392.07M	440.13M	835.49M	626.86M	887.8M	2.66B	3.75B	4.97B	9.21B	12.91B
Interest Paid	0	0	0	0	0	0	0	0	0	349.35M
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	180.51M	-26.86M	211.37M	-593.41M	-3.98B	1.22B	-4.37B	1.68B	7.93B	10.85B
FCF Growth %	1.44%	-1.15%	8.87%	-3.81%	-5.7%	1.31%	-4.59%	1.38%	3.73%	0.37%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.74%	28.49%	36.85%	28.45%	23.37%	23%	28.36%	22.75%	21.37%	22.85%
Return on Assets (ROA)	2.54%	6.32%	7.28%	3.71%	3.52%	2.97%	3.05%	2.16%	1.77%	1.51%
Net Interest Margin	0%	0%	-0.86%	-0.41%	-0.12%	-0.05%	-0.09%	-0.2%	-0.24%	-0.22%
Efficiency Ratio	72%	42.56%	27.75%	34.19%	29.34%	24.89%	30.72%	32.9%	36.98%	29.22%
Equity / Assets	17.76%	25.82%	16.14%	11.8%	16.4%	11.35%	10.35%	8.87%	7.81%	5.77%
Book Value / Share	2.51	1.98	2.09	3.79	13.98	19.49	25.14	29.74	35.74	36.56
NII Growth	-	-	-	-18.36%	27.23%	10.39%	-171.75%	-201.94%	-55.16%	-25.2%
Dividend Payout	108.11%	71.53%	45.91%	70.43%	46.28%	-	-	-	90.86%	45.13%

Revenue by Geography

	2020	2021	2022	2023	2024
BRAZIL	-	11.72B	12.86B	14.26B	16.29B
BRAZIL Growth	-	-	9.65%	10.93%	14.21%
UNITED STATES	-	332.05M	449.45M	532M	684.14M
UNITED STATES Growth	-	-	35.36%	18.37%	28.60%
Europe	41.48M	21.09M	42.03M	66.8M	58.59M
Europe Growth	-	-49.16%	99.31%	58.91%	-12.29%
Brazil	7.45B	-	-	-	-
Brazil Growth	-	-	-	-	-
United States	655.82M	-	-	-	-
United States Growth	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

XP Inc. (XP) has a price-to-earnings (P/E) ratio of 2.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

XP Inc. (XP) grew revenue by 34.1% over the past year. This is strong growth.

Yes, XP Inc. (XP) is profitable, generating $5.05B in net income for fiscal year 2024 (22.7% net margin).

Dividend & Returns

Yes, XP Inc. (XP) pays a dividend with a yield of 21.34%. This makes it attractive for income-focused investors.

XP Inc. (XP) has a return on equity (ROE) of 22.9%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

XP Inc. (XP) has a net interest margin (NIM) of -0.2%. NIM has been under pressure due to interest rate environment.

XP Inc. (XP) has an efficiency ratio of 29.2%. This is excellent, indicating strong cost control.

US Stock Screener

...