XP Inc. (NASDAQ: XP)

$15.82-0.13%today

Brazilian ADR trading on the NASDAQ, priced in US dollars.

Display currency

Market Cap, EPS and the financial totals below — switch between US dollars and BRL.

Market Cap: $8.17B
P/E (TTM): 8.3x
P/B: 1.7x
EPS (TTM): $1.91
Dividend Yield: 1.26%
52-Week Range: $14.80 – $23.13
Volume: 5.89M
Previous Close: $15.84

TTM = trailing twelve months — the most recent 12 months (a rolling window), used for P/E, EPS and dividends. On the tables and charts below, the in-progress current year appears as a “Last 12M” column labelled with the quarter range it covers.

Performance

Today

-0.13%

1 Week

-2.35%

1 Month

-5.10%

YTD

-3.36%

1 Year

-9.91%

5 Years

-64.86%

About XP Inc.

US Ticker: XP
B3 Ticker: —
Exchange: NASDAQ
Currency: USD
Sector: Financial Services
Industry: Capital Markets
Headquarters: George Town, Cayman Islands
Employees: —
CEO: Mr. Thiago Maffra
Founded: 2001

XP Inc. engages in the provision of 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 George Town, the Cayman Islands.

www.xpinc.com

Financial Results

Revenue, EBITDA and net profit (in USD) with net margin (net profit ÷ revenue).

Financial Health

Margins, leverage and cash-flow quality derived from XP Inc.'s income statement, balance sheet and cash flow (absolute figures in USD).

ProfitabilityLeverageGrowth

Overall: Financially Solid

Net Margin: 27.7%
ROE: 21.2%
Rev Growth (YoY): +2.27%
Net Debt / EBITDA: 12.81×
Current Ratio: 0.49×
Interest Coverage: 11.06×
Free Cash Flow: 15.05B
Payout Ratio: —

Income — Margins & Efficiency

Metric	Last 12MQ2'25 – Q1'26	Δ	2025	Δ	2024	Δ	2023	Δ	2022	Δ	2021	Δ	2020	Δ	2019	Δ	2018	Δ	2017	Δ	2016	Δ	2015	Δ	2014	Δ	2013
Revenue	$3,591,947,109	+7.9%	$3,330,427,193	+3.5%	$3,216,304,175	+5.3%	$3,055,017,516	+13.9%	$2,683,349,832	+15.2%	$2,329,217,226	+40.7%	$1,655,942,019	+28.7%	$1,286,638,910	+57.9%	$814,925,995	+35.1%	$603,151,042	+66.8%	$361,563,673	+116.4%	$167,093,285	+5.8%	$157,861,422	+1067.9%	$13,516,297
Gross profit	$2,405,303,548	+7.2%	$2,243,537,463	+3.0%	$2,177,673,331	+5.7%	$2,060,114,145	+11.7%	$1,843,847,438	+15.0%	$1,602,732,400	+47.5%	$1,086,619,210	+27.1%	$854,630,698	+61.8%	$528,319,518	+30.6%	$404,569,539	+68.5%	$240,041,372	+43.7%	$167,093,285	+5.8%	$157,861,422	+1067.9%	$13,516,297
Operating income	$1,143,612,753	+5.9%	$1,079,861,172	+1.1%	$1,067,601,825	+13.9%	$937,129,071	+22.3%	$766,121,474	+2.7%	$745,752,052	+49.4%	$499,168,207	+24.8%	$400,105,580	+92.2%	$208,188,343	+0.7%	$206,803,403	+89.9%	$108,913,614	+132.8%	$46,789,749	+83.1%	$25,548,397	+89.0%	$13,516,297
EBITDA	$1,214,502,707	+6.4%	$1,141,815,990	+2.0%	$1,119,797,754	+14.8%	$975,119,930	+22.7%	$794,416,224	+1.8%	$780,420,634	+53.6%	$508,245,118	+22.3%	$415,410,108	+98.1%	$209,673,365	+0.9%	$207,754,248	+81.8%	$114,255,830	-65.0%	$326,305,507	+18397.4%	$1,764,063	-93.5%	$27,032,594
Net profit	$995,097,522	+7.5%	$925,502,327	+10.4%	$838,046,532	+5.9%	$790,993,129	+12.7%	$701,547,111	+4.8%	$669,734,184	+66.1%	$403,208,371	+54.5%	$261,006,028	+106.6%	$126,336,371	-2.4%	$129,493,515	+138.5%	$54,301,393	+183.4%	$19,158,390	+115.6%	$8,887,382	-34.2%	$13,516,297
Gross margin	67.0%	-0.4 p.p.	67.4%	-0.3 p.p.	67.7%	+0.3 p.p.	67.4%	-1.3 p.p.	68.7%	-0.1 p.p.	68.8%	+3.2 p.p.	65.6%	-0.8 p.p.	66.4%	+1.6 p.p.	64.8%	-2.2 p.p.	67.1%	+0.7 p.p.	66.4%	-33.6 p.p.	100.0%	+0.0 p.p.	100.0%	+0.0 p.p.	100.0%
Operating margin	31.8%	-0.6 p.p.	32.4%	-0.8 p.p.	33.2%	+2.5 p.p.	30.7%	+2.1 p.p.	28.6%	-3.5 p.p.	32.0%	+1.9 p.p.	30.1%	-1.0 p.p.	31.1%	+5.6 p.p.	25.5%	-8.7 p.p.	34.3%	+4.2 p.p.	30.1%	+2.1 p.p.	28.0%	+11.8 p.p.	16.2%	-83.8 p.p.	100.0%
EBITDA margin	33.8%	-0.5 p.p.	34.3%	-0.5 p.p.	34.8%	+2.9 p.p.	31.9%	+2.3 p.p.	29.6%	-3.9 p.p.	33.5%	+2.8 p.p.	30.7%	-1.6 p.p.	32.3%	+6.6 p.p.	25.7%	-8.7 p.p.	34.4%	+2.8 p.p.	31.6%	-163.7 p.p.	195.3%	+194.2 p.p.	1.1%	-198.9 p.p.	200.0%
Net margin	27.7%	-0.1 p.p.	27.8%	+1.7 p.p.	26.1%	+0.2 p.p.	25.9%	-0.3 p.p.	26.1%	-2.6 p.p.	28.8%	+4.4 p.p.	24.3%	+4.1 p.p.	20.3%	+4.8 p.p.	15.5%	-6.0 p.p.	21.5%	+6.5 p.p.	15.0%	+3.6 p.p.	11.5%	+5.8 p.p.	5.6%	-94.4 p.p.	100.0%
Revenue growth (YoY)	2.3%	+10.5 p.p.	-8.2%	-42.3 p.p.	34.1%	+29.6 p.p.	4.5%	-4.8 p.p.	9.3%	-41.6 p.p.	50.9%	-15.4 p.p.	66.4%	+2.7 p.p.	63.7%	+5.6 p.p.	58.1%	-11.7 p.p.	69.8%	-8.0 p.p.	77.9%	+20.1 p.p.	57.8%	-1156.1 p.p.	1213.9%	—	—
Effective tax rate	5.2%	+0.0 p.p.	5.1%	-4.3 p.p.	9.4%	+8.5 p.p.	0.9%	+4.9 p.p.	-3.9%	-9.8 p.p.	5.8%	-8.2 p.p.	14.0%	-15.4 p.p.	29.4%	+2.1 p.p.	27.4%	+1.0 p.p.	26.4%	-8.4 p.p.	34.8%	+5.3 p.p.	29.5%	-9.1 p.p.	38.6%	—	—
Interest coverage	11.06×	+13.9%	9.71×	+31.3%	7.40×	+0.3%	7.37×	-22.9%	9.56×	-67.1%	29.11×	-38.0%	46.97×	+143.4%	19.30×	+95.7%	9.86×	-5.4%	10.42×	—	—	—	—	—	—	—	—

Newest column (“Last 12M”) = trailing 12 months, the last 4 reported quarters — shown with the quarter range it spans; earlier columns are full fiscal years.

Balance Sheet — Health & Leverage

Metric	Last 12MQ2'25 – Q1'26	Δ	2025	Δ	2024	Δ	2023	Δ	2022	Δ	2021	Δ	2020	Δ	2019	Δ	2018	Δ	2017	Δ	2016	Δ	2015	Δ	2014	Δ	2013
Net debt	$15,562,346,133	+13.7%	$13,685,450,130	-22.8%	$17,728,239,207	+33.1%	$13,322,306,503	+120.2%	$6,049,412,444	+31.0%	$4,618,233,816	-20.5%	$5,811,901,120	+37.3%	$4,233,670,949	+120.2%	$1,922,573,435	+418.5%	$370,820,573	+8189.2%	-$4,584,140	+34.3%	-$6,975,510	-180.1%	-$2,490,110	-293645.8%	-$848
Net Debt / Equity	3.31×	+4.0%	3.18×	-41.8%	5.46×	+64.5%	3.32×	+77.0%	1.88×	+5.2%	1.78×	-35.6%	2.77×	+16.5%	2.38×	-33.5%	3.57×	+232.8%	1.07×	+7625.2%	-0.01×	+79.6%	-0.07×	-219.6%	-0.02×	-284104.0%	-0.00×
Net Debt / EBITDA	12.81×	+6.9%	11.99×	-24.3%	15.83×	+15.9%	13.66×	+79.4%	7.61×	+28.7%	5.92×	-48.3%	11.44×	+12.2%	10.19×	+11.1%	9.17×	+413.7%	1.78×	+4548.7%	-0.04×	-87.7%	-0.02×	+98.5%	-1.41×	-4501275.5%	-0.00×
Debt / Equity	3.67×	+1.2%	3.62×	-36.9%	5.74×	+63.0%	3.53×	+69.1%	2.09×	+6.6%	1.96×	-33.6%	2.95×	+23.3%	2.39×	-33.7%	3.61×	+198.6%	1.21×	—	0.00×	—	0.00×	—	—	—	—
Current ratio	0.49×	-13.4%	0.56×	-29.9%	0.81×	-16.3%	0.96×	+33.4%	0.72×	-13.1%	0.83×	+44.7%	0.57×	+8.3%	0.53×	-25.2%	0.71×	+38.4%	0.51×	+360.4%	0.11×	-56.2%	0.25×	+60.3%	0.16×	—	—
Return on equity (ROE)	21.2%	-0.4 p.p.	21.5%	-4.3 p.p.	25.8%	+6.1 p.p.	19.7%	-2.0 p.p.	21.8%	-4.1 p.p.	25.9%	+6.7 p.p.	19.2%	+4.6 p.p.	14.7%	-8.8 p.p.	23.5%	-14.0 p.p.	37.5%	+20.6 p.p.	16.9%	-2.3 p.p.	19.2%	+11.4 p.p.	7.8%	-4.5 p.p.	12.2%
Return on assets (ROA)	1.3%	-0.0 p.p.	1.3%	-0.2 p.p.	1.5%	-0.1 p.p.	1.5%	-0.4 p.p.	1.9%	-0.7 p.p.	2.7%	+0.5 p.p.	2.2%	-0.2 p.p.	2.4%	-0.4 p.p.	2.8%	-3.2 p.p.	6.0%	+1.8 p.p.	4.2%	+2.0 p.p.	2.2%	+1.2 p.p.	0.9%	-11.3 p.p.	12.2%
Book value / share	$8.95	+10.7%	$8.08	+36.6%	$5.92	-19.7%	$7.37	+31.0%	$5.63	+24.7%	$4.51	+20.2%	$3.75	+7.8%	$3.48	+257.0%	$0.98	+55.8%	$0.63	+7.5%	$0.58	+43.0%	$0.41	-14.8%	$0.48	+4.6%	$0.46

Newest column (“Last 12M”) = trailing 12 months, the last 4 reported quarters — shown with the quarter range it spans; earlier columns are full fiscal years.

Net Debt & Leverage

Free Cash Flow

Margins

Dividend Payout Ratio

Capex ÷ Revenue

Cash Conversion (operating cash flow ÷ net income)

Ratios computed from company financial statements. Net Debt = total debt − cash & equivalents; FCF = operating cash flow − capital expenditure; absolute values in USD.

Valuation & Dividends

P/E Ratio History

Dividend History

This year (YTD) $0.20/share · yield 1.26%

Dividends and yield from Yahoo Finance (per ADR share, in US dollars). The current-year figures are calendar year-to-date (dividends actually paid this year), not the trailing 12 months.

Frequently Asked Questions

Why hold XP Inc. XP ADR instead of local B3 shares?

Buying directly on Brazil’s B3 exchange means opening a local brokerage account, converting currency and dealing with Brazilian tax paperwork. ADRs remove that friction: they settle in dollars, follow US market hours, and report in formats foreign investors already understand.

The trade-off is that an ADR’s price reflects two moving parts: (1) the underlying share price, quoted in reais on the B3, and (2) the USD/BRL exchange rate. Because of that second part, a rising company can still deliver a flat, or even negative, dollar return if the real weakens against the dollar. The same applies to ETFs: funds such as EWZ, EWZS and FLBR bundle dozens of these companies into a single ticker for instant diversification, but their dollar value still moves with the real.

Where is XP Inc. listed?

XP Inc. trades on a single exchange: NASDAQ in the United States (XP, US dollars). That is the line quoted on this page.

What is XP Inc.'s primary listing?

XP Inc.'s primary listing is on NASDAQ in the United States, where it trades as XP in US dollars — the line quoted on this page. It has no directly listed share on Brazil’s B3.

How can I buy XP Inc. stock in the United States?

XP Inc. is listed on the NASDAQ under XP, priced in US dollars. Any US brokerage offering NASDAQ-listed securities can trade it, with no foreign-account paperwork and no currency conversion.

As of Fri, Aug 14, 17:00 BRT · Market closed

Financial data last updated: August 15, 2026

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