Stifel Financial Corporation (SF) vs XP Inc. (XP)

Stifel Financial Corporation and XP Inc. are both Capital Markets companies. Stifel Financial Corporation and XP Inc. are of similar size ($10.6B and $10.6B). XP Inc. trades at the lower P/E: 10.6× against 11.9×. XP Inc. grew revenue faster over the last twelve months: 18.2% against 15.4%. XP Inc. has the higher net margin (27.8% vs 15.5%) and the higher return on invested capital (20.5% vs 16.0%). Both pay a dividend; XP Inc. yields more (3.47% vs 2.20%). Across the 23 metrics below, XP Inc. leads on 18 and Stifel Financial Corporation on 5.

Valuation

Metric SF XP Capital Markets median
P/E 11.86 10.63 15.78
P/S 1.83 2.91 2.32
P/B 2.04 2.14 1.89
Price to free cash flow 38.32 4.47 6.25
EV/EBITDA 6.77 7.28 8.87
EV/Sales 1.70 2.58 2.28
Earnings yield 8.43% 9.41% (3.77%)
Free cash flow yield 2.61% 22.36% (1.49%)

Profitability

Metric SF XP Capital Markets median
Gross margin 98.95% 100.00% 62.80%
Operating margin 20.60% 33.63% 0.00%
Net margin 15.48% 27.84% (0.55%)
Free cash flow margin 4.78% 65.15% 0.00%
Return on equity 17.90% 22.76% 0.00%
Return on assets 2.16% 1.37% 0.00%
Return on invested capital 16.01% 20.52% 0.00%

Growth

Metric SF XP Capital Markets median
Revenue growth (TTM) 15.40% 18.17% 21.02%
EPS growth (last fiscal year) (6.08%) 13.73% —
Revenue growth, 5-year CAGR 8.07% 15.82% 18.16%
Net income growth, 5-year CAGR 6.30% 18.11% 0.00%

Health

Metric SF XP Capital Markets median
Debt to equity 0.29 0.07 0.08
Current ratio 0.88 4.80 1.51
Net debt to EBITDA (1.36) (1.52) (0.24)

Dividend

Metric SF XP Capital Markets median
Dividend yield 2.20% 3.47% 2.20%
Payout ratio 0.26 0.00 0.00

Size

Metric SF XP Capital Markets median
Market cap 10.56b 10.61b 724.58m

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