XP Inc. (XP) Revenue History
Annual and quarterly revenue from 2013 to present
XP Revenue Over Time (2013–2025)
XP Revenue Growth History
11 of 12 years with positive growth- FY2013 revenue growth
- N/A
- FY2014 revenue growth
- +1213.9%
- FY2015 revenue growth
- +57.8%
- FY2016 revenue growth
- +77.9%
- FY2017 revenue growth
- +69.8%
- FY2018 revenue growth
- +58.1%
- FY2019 revenue growth
- +63.7%
- FY2020 revenue growth
- +66.4%
- FY2021 revenue growth
- +50.9%
- FY2022 revenue growth
- +9.3%
- FY2023 revenue growth
- +4.5%
- FY2024 revenue growth
- +34.1%
- FY2025 revenue growth
- -8.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $4.62B | — |
| Q4 2025 | $5.06B | — |
| Q3 2025 | $4.59B | — |
| Q2 2025 | $4.38B | — |
| Q1 2025 | $4.32B | — |
| Q4 2024 | $4.75B | — |
| Q3 2024 | $4.35B | — |
| Q2 2024 | $4.66B | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown
XP's revenue distribution by segment and geography
By Geography
XP Revenue Analysis (2013–2025)
Current Revenue & Growth
As of June 29, 2026, XP Inc. (XP) generated trailing twelve-month (TTM) revenue of $18.65 billion, reflecting solid growth of +6.9% year-over-year. The most recent quarter (Q1 2026) recorded $4.62 billion in revenue, down 8.8% sequentially.
Historical Growth Trajectory
XP's 5-year compound annual growth rate (CAGR) stands at +16.2%, indicating consistent double-digit revenue growth. The 3-year CAGR of +8.8% is below the 5-year average, signalling a growth deceleration in recent years. XP Inc.'s highest annual revenue of $19.87 billion was recorded in 2024.
Peer Comparison
Compared to Financial Services sector peers — including MELI (+42.1% YoY), NU, and PAGS (+5.1% YoY) — XP has underperformed the peer group in revenue growth. Compare XP vs MELI →
XP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| XPCurrent | $18.7B | +6.9% | +16.2% | 32.4% | |
 MELI | $28.9B | +42.1% | +48.7% | 11.1% | |
 NU | $15.9B | - | - | 24.4% | |
 PAGS | $19.4B | +5.1% | +23.7% | 37.5% | |
 STNE | $14.2B | -12.4% | +34.9% | 51.4% | |
 SCHW | $27.7B | - | - | 49.4% |
XP Historical Revenue Data (2013–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $18.24B | - | $12.29B | 67.4% | $5.91B | 32.4% |
| 2024 | $19.87B | - | $13.45B | 67.7% | $6.60B | 33.2% |
| 2023 | $14.82B | - | $9.99B | 67.4% | $4.55B | 30.7% |
| 2022 | $14.18B | - | $9.74B | 68.7% | $4.05B | 28.6% |
| 2021 | $12.97B | - | $8.93B | 68.8% | $4.15B | 32.0% |
| 2020 | $8.60B | - | $5.64B | 65.6% | $2.59B | 30.1% |
| 2019 | $5.17B | - | $3.43B | 66.4% | $1.61B | 31.1% |
| 2018 | $3.16B | - | $2.05B | 64.8% | $806.6M | 25.5% |
| 2017 | $2.00B | - | $1.34B | 67.1% | $684.7M | 34.3% |
| 2016 | $1.18B | - | $780.7M | 66.4% | $354.2M | 30.1% |
| 2015 | $661.1M | - | $661.1M | 100.0% | $185.1M | 28.0% |
| 2014 | $419.0M | - | $419.0M | 100.0% | $67.8M | 16.2% |
| 2013 | $31.9M | - | $31.9M | 100.0% | $31.9M | 100.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
13+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
XP — Frequently Asked Questions
Quick answers to the most common questions about buying XP stock.
Is XP's revenue growth accelerating or slowing?
XP revenue growth is holding steady at +6.9% year-over-year. TTM revenue is $18.7B. The current growth rate closely tracks the 5-year CAGR of +16.2%, signalling consistent execution.
What is XP's revenue history from 2013 to 2026?
XP Inc. (XP) revenue history spans 2013 to 2026. TTM revenue as of 2026 is $18.7B, growing at +6.9% YoY. The 5-year CAGR is +16.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is XP's long-term revenue growth rate (CAGR)?
XP Inc.'s 5-year revenue CAGR of +16.2% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +6.9% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for XP.
Why does XP's quarterly revenue fluctuate?
XP quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. XP Inc.'s revenue data from 2013 to 2026 shows full historical quarterly detail on this page.
How is XP's revenue distributed by segment?
XP reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does XP's revenue compare to industry peers?
XP Inc. (XP) with TTM revenue of $18.7B and +6.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.