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XP Inc.

XP Inc.

NASDAQ•XP
CEO: Mr. Guilherme Dias Fernandes Benchimol
Sector: Financial Services
Industry: Financial - Capital Markets
Listing Date: 2019-12-11
XP Inc. provides financial products and services in Brazil. It operates XP Platform, an open product platform that provides clients to access investment products in the market comprising brokerage securities, fixed income securities, mutual, hedge, and private equity funds; derivatives and synthetic instruments; credit cards; loan operations/collateralized credit products; pension and social security funds, and life and travel insurance products; and other investment products comprising real estate funds, and equity and debt capital markets solutions, as well as wealth management services. The company offers brokerage and issuer services to institutional and corporate clients. It also manages mutual funds focused on stocks and macro strategies distributed to retail and to institutional clients; funds and managed portfolios for high-net-worth retail clients, and proprietary treasury funds; and passive mutual funds that track market indexes, and mutual and investment funds focused on fixed income, credit, real estate, infrastructure, and other alternative strategies. In addition, the company offers securities brokerage services for institutional and retail investors; interdealer brokerage services for institutional traders; and commercial and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits, as well as develops and sells financial education courses and events online and in person to retail clients. It offers its sell products and services through its omni-channel distribution network and online portals. XP Inc. was founded in 2001 and is based in Grand Cayman, Cayman Islands.
Contact Information
20, Genesis Close, George Town, Grand Cayman, KY-1-1208, Cayman Islands
N/A
www.xpinc.com
Market Cap
$8.28B
P/E (TTM)
9.0
50.7
Dividend Yield
1.1%
52W High
$20.64
52W Low
$10.82
52W Range
50%
Rank36Top 23.7%
4.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$843.02M+136.67%
4-Quarter Trend

EPS

$0.46+15.67%
4-Quarter Trend

FCF

$2.23B+165.86%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Revenue and Asset Growth Total revenue R$17.03B, up 15% for 2024; Client Assets reached R$1.23T, growing 9% year-end.
Net Income Rises Net income R$4.52B for 2024, marking 16% increase; Retail revenue grew 14% driven by client base expansion.
Client Base Expansion Active clients reached 4.68M, up 3% from 2023; Omni-channel distribution network supports growth across brands.

Risk Factors

Brazil Macroeconomic Volatility Real depreciation 21.8% against US$ in 2024; political instability and inflation create economic uncertainty risks.
Intense Industry Competition Substantial competition pressures margins; failure to invest adequately in technology risks declining service usage and revenues.
Cybersecurity Incident Exposure Experienced unauthorized third-party access to client database hosted by vendor in March 2025; remediation underway.

Outlook

Strategic Growth Pillars Focus on Investment Leadership, Retail cross-sell, Corporate/SMB solutions, leveraging competitive advantages for expansion.
Governance Structure Upgrade Enhanced oversight via new Risks, Credit, ESG Committee and Strategy/Performance Committee establishment in 2024.
Technology Platform Investment Continue investing in product development and technology infrastructure to improve efficiency and enhance client experience.

Peer Comparison

Revenue (TTM)

Citizens Financial Group, Inc.CFG
$12.02B
-3.9%
Western Alliance BancorporationWAL
$5.21B
+6.2%
Wintrust Financial CorporationWTFC
$4.17B
+8.8%

Gross Margin (Latest Quarter)

Cipher Mining Inc.CIFR
96.5%
+120.2pp
Citizens Financial Group, Inc.CFG
92.7%
+36.4pp
Western Alliance BancorporationWAL
69.4%
+9.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CFG$25.17B14.86.8%4.8%
WAL$9.49B10.412.8%5.2%
WTFC$9.45B12.011.6%6.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
37.2%
Strong Growth
4Q Net Income CAGR
6.3%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 17, 2026
|
EPS:$0.44
|
Revenue:$882.21M
Reports
All Years
  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 24, 2025|
    Revenue: $3.68B+13.7%
    |
    EPS: $1.52+14.9%
    Beat
  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Apr 26, 2024|
    Revenue: $1.31B+10.0%
    |
    EPS: $1.43+11.2%
    Beat
  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Apr 27, 2023|
    Revenue: $1.14B-4.1%
    |
    EPS: $1.24+0.3%
    Miss
  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Apr 13, 2022|
    Revenue: $1.14B+23.5%
    |
    EPS: $1.19+70.7%
    Miss
  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Apr 29, 2021|
    Revenue: $972.45M+39.5%
    |
    EPS: $0.73+78.2%
    Miss