Saturday 17 October 2026 Export XP’s income statement to Excel — free account

XP Inc.

XP Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 4.36% from fiscal 2024. In the quarter to June 2026, revenue grew 22.0%, EPS grew 23.3%, free cash flow fell 127.1% and total debt fell 30.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.

29.18 0.86 −2.86%

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Market cap: $15.5B
P/E: 15.1×
Fwd P/E: 7.5×
Dividend yield: 1.30%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 19.98

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	1	1	1	1	1	17	3	—

Insider Ownership 24.74%

Capital & Financial Ratios $m

Market Cap 15,530.00

Revenue 3,614.56

Net Income 1,086.08

Free Cash Flow 2,355.01

Net Debt (1,211.69)

Current Ratio 4.80

Debt/Equity 0.07

P/E ratio 15.12

Fwd P/E 7.47

P/S ratio 4.15

P/B ratio 3.05

Past 5Y EPS Growth 19.30%

This Y EPS Growth 10.86%

Next Y EPS Growth 15.17%

Next Y revenue growth 509.43%

Next 5Y EPS Growth 12.74%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 47.30%

10-year low 10-year high

P/S against its own 10 years 53.06%

10-year low 10-year high

P/B against its own 10 years 49.09%

10-year low 10-year high

Dividends

Payout Ratio 0.20

Annual Dividend Rate 0.38

Annual Dividend Yield 1.30%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	7.54	0.20
2025	5.50	0.18
2024	0.00	0.65
2023	1.32	0.59 0.73
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	790	1,040	1,855	1,579
Receivables	186	228	324	343
Inventory	—	—	—	—
Other	—	—	—	—
	1,860	2,077	2,907	2,795

	2023	2024	2025	Q'26
Payables	190	142	145	160
ST’ Debt	—	—	—	—
Other	342	320	397	423
	532	462	542	583

Compound Annual Growth %

	10y	5y	3y
Sales	—	15.82%	8.42%
Cash Flow	—	49.07%	83.45%
Earnings	—	18.11%	10.11%
Book Value	—	14.81%	8.51%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	888	960	—	—	—
’25	742	786	856	911	3,295
’24	818	808	779	752	3,158
’23	603	717	846	810	2,976
’22	597	697	691	600	2,585
’21	481	570	607	580	2,238
’20	392	358	391	440	1,581

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	890	(193)	—	—	—
’25	(450)	824	2,275	(492)	2,157
’24	(676)	1,187	815	746	2,073
’23	660	394	(235)	809	1,628
’22	211	(112)	(44)	294	349
’21	66	(255)	(771)	215	(745)
’20	(31)	105	77	143	293

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	846	(218)	—	—	—
’25	(462)	805	2,244	(517)	2,070
’24	(685)	1,173	797	729	2,013
’23	658	394	(286)	821	1,589
’22	209	(117)	(46)	279	325
’21	41	(276)	(784)	209	(810)
’20	(41)	99	69	109	237

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.47	0.53	—	—	—
’25	0.39	0.43	0.45	0.46	1.74
’24	0.37	0.39	0.39	0.37	1.53
’23	0.28	0.37	0.40	0.38	1.45
’22	0.28	0.32	0.35	0.26	1.21
’21	0.23	0.31	0.31	0.31	1.16
’20	0.16	0.18	0.18	0.20	0.72

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	32.10	15.50	27.65	13.77	10.30	11.68	10.82	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	40.50	52.95	53.08	36.36	27.71	26.78	20.64
People
People	Employees	—	—	—	2,429	3,651	6,192	6,928	6,669	7,442	8,069
	Revenue/emp, $m	0.00	0.00	0.00	0.53	0.43	0.36	0.37	0.45	0.42	0.41
Income, $m
Income, $m	Revenue	360	604	814	1,299	1,581	2,238	2,585	2,976	3,158	3,295
	Gross margin, %	0.00	0.00	0.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	107	180	175	391	470	707	667	788	924	976
	EBT margin, %	29.72	29.80	21.50	30.11	29.70	31.59	25.81	26.49	29.28	29.61
	Net income	54	0	126	391	470	707	667	788	924	976
	Depreciation	—	—	—	23	28	43	40	51	49	54
Per share, $
Per share, $	Revenue	0.65	1.09	1.47	2.54	2.86	4.00	4.65	5.51	5.83	6.25
	Earnings	0.10	0.23	0.23	0.51	0.73	1.19	1.25	1.45	1.55	1.76
	Cash flow	0.19	0.22	0.25	(1.89)	0.53	(1.33)	0.63	3.02	3.83	4.09
	Capex	0.00	0.00	0.00	(0.08)	(0.10)	(0.12)	(0.04)	(0.07)	(0.11)	(0.17)
	Free cash flow	0.19	0.22	0.25	(1.97)	0.43	(1.45)	0.58	2.94	3.72	3.92
	Book value	0.00	0.63	0.97	3.55	3.83	4.78	5.94	7.22	6.86	8.00
	Shares, m	552	552	552	511	552	559	555	540	542	527
Valuation, ×
Valuation, ×	P/E	61.54	61.54	61.54	226.59	55.10	24.15	11.15	17.76	7.65	9.41
	P/S	0.00	0.00	0.00	0.00	13.85	7.18	2.97	4.64	2.03	2.62
	P/B	0.00	0.00	0.00	0.00	10.36	6.01	2.33	3.54	1.73	2.05
	EV/Sales	0.00	0.00	0.00	0.00	13.72	7.13	2.84	4.52	1.80	2.07
	EV/FCF	0.00	0.00	0.00	0.00	91.71	(19.70)	22.63	8.57	2.83	3.30
Cash, $m
Cash, $m	Operating cash flow	102	122	138	(966)	293	(745)	349	1,628	2,073	2,157
	Capex	(9)	(16)	(37)	(41)	(57)	(65)	(25)	(39)	(59)	(88)
	Free cash flow	102	122	138	(1,007)	237	(810)	325	1,589	2,013	2,070
Balance, $m
Balance, $m	Working capital	—	—	—	(51)	392	862	1,279	1,329	1,615	2,364
	Total debt	—	631	2,263	373	161	357	361	441	309	43
	Net debt	—	585	2,245	345	(219)	(103)	(327)	(349)	(731)	(1,812)
	Shareholders’ equity	—	345	538	1,813	2,114	2,672	3,301	3,896	3,717	4,217
Returns, %
Returns, %	ROA	0.00	3.87	5.51	3.50	2.71	2.99	2.20	1.79	1.46	1.37
	ROIC	—	0.00	0.00	11.95	16.18	18.26	16.09	17.09	23.31	29.56
	ROE	0.00	29.45	28.54	23.29	20.51	27.79	23.22	21.70	21.98	23.34

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CRCL Circle Internet Group, Inc.	$22.2B	43.0×	97.9×	+6.57% (above 0%: growing)	n/m	+113.54% (above 0%: growing)	41.19%	4.90%	Compare
XP XP Inc.	$15.5B	15.1×	7.5×	+22.04% (above 0%: growing)	+23.26% (above 0%: growing)	−127.08% (below 0%: shrinking)	100.00%	34.50%
BMNR BitMine Immersion Technologies, Inc.	$14.1B	— (loss-making)	— (loss-making)	+2,167.79% (above 0%: growing)	n/m	−126,594.81% (below 0%: shrinking)	87.70%	(25.50%)	Compare
IREN IREN Limited	$12.3B	— (loss-making)	1,228×	−26.73% (below 0%: shrinking)	n/m	+705.74% (above 0%: growing)	75.71%	(585.97%)	Compare
FUTU Futu Holdings Limited Sponsored ADR	$10.5B	10.3×	10.9×	+35.71% (above 0%: growing)	+42.98% (above 0%: growing)	+443.45% (above 0%: growing)	86.31%	61.99%	Compare
SF Stifel Financial Corporation	$10.4B	11.4×	12.5×	+12.97% (above 0%: growing)	+50.00% (above 0%: growing)	−90.85% (below 0%: shrinking)	98.96%	20.64%	Compare
JEF Jefferies Financial Group Inc.	$10.3B	12.1×	15.6×	+8.52% (above 0%: growing)	+3.85% (above 0%: growing)	+1,917.32% (above 0%: growing)	98.97%	24.82%	Compare
EVR Evercore Inc	$9.9B	13.2×	19.5×	+19.15% (above 0%: growing)	−1.59% (below 0%: shrinking)	+25.04% (above 0%: growing)	99.69%	17.65%	Compare
HUT Hut 8 Corp.	$9.4B	— (loss-making)	— (loss-making)	+81.44% (above 0%: growing)	n/m	−535.81% (below 0%: shrinking)	11.10%	(275.36%)	Compare
Median of peers	$10.4B	12.1×	17.6×	+16.06%	+23.42%	+69.29%	87.01%	11.27%

All 93 Capital Markets stocks →

XP Inc. (XP) key facts

Strength: XP Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 4.36% from fiscal 2024.
Strength: Net income was $975.8 million, or $1.76 per share (basic), a net margin of 28.1%.
XP Inc. (XP) is a Capital Markets company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, XP traded at $29.18, a market capitalization of $15.5 billion.
At that price the stock trades at 15.1× trailing-twelve-month earnings and 4.1× sales; its P/E is higher than 47% of its own readings over the past ten years.
XP Inc. pays an annual dividend of $0.38 per share, a yield of 1.30%, with a payout ratio of 19.9%.
Return on equity was 23.3% and debt-to-equity 0.07.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.