XP Stock Analysis: Xp | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 10.245m USD | 12M Return: 9.3% | KYG982391099 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 134M
EPS Trend: 8.7%
Qual. Beats: 0
Rev. Trend: 83.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 6.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
XP Inc. is a Brazilian financial services company that operates an open product platform connecting clients to a broad range of investment offerings, including brokerage, fixed income, mutual and hedge funds, derivatives, credit cards, loans, insurance, pension products, and wealth management services. It serves both retail and institutional clients through securities brokerage, interdealer brokerage, and issuer services.
The company also manages proprietary and third-party mutual funds across equities, macro, fixed income, credit, and alternative strategies, and provides commercial and investment banking products such as loans, foreign exchange, and deposits. Financial education courses, both online and in-person, complement its product suite, which is distributed through an omni-channel network and online portals. Founded in 2001, XP went public on the Nasdaq in December 2019 and is classified within the Investment Banking & Brokerage sub-industry of the Financials sector.
- Brazil Selic rate cuts pressure fixed income revenue
- Retail trading volumes decline amid Bovespa volatility
- Asset management AUM growth expands recurring fee base
| Net Income: 5.32b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 2.51 > 1.0 |
| NWC/Revenue: -232.0% < 20% (prev -228.3%; Δ -3.67% < -1%) |
| CFO/TA 0.05 > 3% & CFO 21.8b > Net Income 5.32b |
| Net Debt (84.8b) to EBITDA (6.56b): 12.92 < 3 |
| Current Ratio: 0.50 > 1.5 & < 3 |
| Outstanding Shares: last quarter (520.5m) vs 12m ago -2.85% < -2% |
| Gross Margin: 66.69% > 18% (prev 68.80%; Δ -2.10% > 0.5%) |
| Asset Turnover: 4.93% > 50% (prev 4.63%; Δ 0.30% > 0%) |
| Interest Coverage Ratio: 12.67 > 6 (EBIT TTM 6.22b / Interest Expense TTM 491.3m) |
| A: -0.11 (Total Current Assets 45.1b - Total Current Liabilities 89.8b) / Total Assets 407b |
| B: 0.01 (Retained Earnings 2.70b / Total Assets 407b) |
| C: 0.02 (EBIT TTM 6.22b / Avg Total Assets 391b) |
| D: 0.06 (Book Value of Equity 24.8b / Total Liabilities 383b) |
| Altman-Z'' = -0.52 = B |
| DSRI: 0.96 (Receivables 37.1b/34.7b, Revenue 19.3b/17.3b) |
| GMI: 1.03 (GM 68.80% / 66.69%) |
| AQI: 1.49 (AQ_t 0.89 / AQ_t-1 0.60) |
| SGI: 1.11 (Revenue 19.3b / 17.3b) |
| TATA: -0.04 (NI 5.32b - CFO 21.8b) / TA 407b) |
| Beneish M = -2.67 (Cap -4..+1) = A |
As of September 25, 2026, the stock is trading at USD 20.52 with a total of 6,434,586 shares traded. Over the past week, the price has changed by +1.63%, over one month by +20.21%, over three months by +31.88% and over the past year by +9.29%.
Current recommended Stop Loss: 19.50 (which is 5% or 1.4 ATR below the current price).
Xp has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy XP.
- StrongBuy: 5
- Buy: 5
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 23.3 | 13.6% |
Market Cap BRL = 53.0b (10.2b USD * 5.1703 USD.BRL)
P/E Trailing = 10.0448
P/E Forward = 8.5034
P/S = 0.5499
P/B = 2.076
Revenue TTM = 19.3b BRL
EBIT TTM = 6.22b BRL
EBITDA TTM = 6.56b BRL
Long Term Debt = 48.7b BRL (from longTermDebt, last quarter)
Short Term Debt = 89.8b BRL (from shortTermDebt, last quarter)
Debt = 92.8b BRL (from shortLongTermDebtTotal, last quarter)
Net Debt = 84.8b BRL (calculated: Debt 92.8b - CCE 7.97b)
Enterprise Value = 138b BRL (53.0b + Debt 92.8b - CCE 7.97b)
Interest Coverage Ratio = 12.67 (Ebit TTM 6.22b / Interest Expense TTM 491.3m)
EV/FCF = 6.40x (Enterprise Value 138b / FCF TTM 21.5b)
FCF Yield = 15.62% (FCF TTM 21.5b / Enterprise Value 138b)
FCF Margin = 111.7% (FCF TTM 21.5b / Revenue TTM 19.3b)
Net Margin = 27.59% (Net Income TTM 5.32b / Revenue TTM 19.3b)
Gross Margin = 66.69% ((Revenue TTM 19.3b - Cost of Revenue TTM 6.42b) / Revenue TTM)
Gross Margin QoQ = 66.41% (prev 65.79%)
Tobins Q-Ratio = 0.34 (Enterprise Value 138b / Total Assets 407b)
Interest Expense / Debt = 0.53% (Interest Expense 491.3m / Debt 92.8b)
Taxrate = 7.31% (419.1m / 5.73b)
NOPAT = 5.77b (EBIT 6.22b * (1 - 7.31%))
Current Ratio = 0.50 (Total Current Assets 45.1b / Total Current Liabilities 89.8b)
Debt / Equity = 3.74 (Debt 92.8b / totalStockholderEquity, last quarter 24.8b)
Debt / EBITDA = 12.92 (Net Debt 84.8b / EBITDA 6.56b)
Debt / FCF = 3.94 (Net Debt 84.8b / FCF TTM 21.5b)
Total Stockholder Equity = 24.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.36% (Net Income 5.32b / Total Assets 407b)
RoE = 22.05% (Net Income TTM 5.32b / Total Stockholder Equity 24.1b)
RoCE = 8.55% (EBIT 6.22b / Capital Employed (Equity 24.1b + L.T.Debt 48.7b))
RoIC = 1.42% (NOPAT 5.77b / Invested Capital 406b)
WACC = 4.22% (E(53.0b)/V(146b) * Re(10.76%) + D(92.8b)/V(146b) * Rd(0.53%) * (1-Tc(0.07)))
Discount Rate = 10.76% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -95.49 | Cagr: -2.29%
[DCF] Terminal Value 77.97% ; FCFF base≈17.1b ; Y1≈19.5b ; Y5≈28.8b
[DCF] Fair Price = 858.2 (EV 433b - Net Debt 84.8b = Equity 348b / Shares 405.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 8.68 | EPS CAGR: 0.56% | SUE: 0.39 | # QB: 0
Revenue Correlation: 83.40 | Revenue CAGR: 11.65% | SUE: 0.10 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.75 | Chg30d=+0.39% | Revisions=+40% | Analysts=4
EPS current Year (2026-12-31): EPS=10.79 | Chg30d=+0.43% | Revisions=+40% | GrowthEPS=+9.9% | GrowthRev=+8.9%
EPS next Year (2027-12-31): EPS=12.18 | Chg30d=+1.06% | Revisions=+50% | GrowthEPS=+12.9% | GrowthRev=+11.9%
[Analyst] Revisions Ratio: +70% (up=7, down=0)