XP Inc. (XP)

XP Inc. Financials Overview

Financials in millions BRL. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	18,728	18,399	17,031	14,860	13,347	12,077
Revenue Growth	8.12%	8.03%	14.61%	11.33%	10.52%	48.16%
Gross Profit Gross Profit Growth	13,106	12,936	11,968	10,461	9,476	8,647
Operating Income Operating Income Growth	6,091	5,958	5,718	4,480	3,859	3,959
Net Income Net Income Growth	5,251	5,170	4,513	3,899	3,579	3,589
Earnings Per Share EPS Growth	9.90	9.72	8.23	7.16	6.25	6.26
EPS Growth	14.16%	18.07%	14.90%	14.69%	-0.20%	68.53%

Revenue by Geography

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Brazil Brazil Growth	17,933	17,604	16,288	14,261	12,856	11,724
Other Countries Other Countries Growth	795.61	794.42	742.73	598.79	-	-
Total Total Growth	18,728	18,399	17,031	14,860	13,347	12,077

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	321,003	309,398	274,733	189,911	142,366	112,836
Total Debt Total Debt Growth	179,334	182,355	168,695	95,906	77,340	52,639
Net Cash (Debt) Net Cash Growth	141,669	127,042	106,038	94,005	65,026	60,197
Net Cash Growth	15.44%	19.81%	12.80%	44.56%	8.02%	27.82%
Net Cash Per Share Net Cash Per Share Growth	267.03	238.84	193.39	172.74	113.48	104.96

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	19,368	12,045	11,179	8,127	1,804	-4,020
Capital Expenditures CapEx Growth	-242.03	-209.29	-144.81	-66	-44.56	-135.44
Free Cash Flow Free Cash Flow Growth	19,126	11,836	11,034	8,061	1,759	-4,156
Free Cash Flow Growth	62.65%	7.26%	36.88%	358.21%	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	69.98%	70.31%	70.27%	70.40%	71.00%	71.60%
Operating Margin	32.52%	32.38%	33.58%	30.15%	28.91%	32.78%
Pretax Margin	29.52%	29.61%	29.28%	26.49%	25.81%	31.59%
Profit Margin	28.04%	28.10%	26.51%	26.24%	26.82%	29.75%
FCF Margin	102.12%	64.33%	64.79%	54.25%	13.18%	-34.41%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023
Period Ending	Aug 2, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Dividend Per Share Dividend Per Share Growth	0.200	0.991	4.020	6.357
Dividend Per Share Growth	0%	-75.34%	-36.75%	-
Dividend Yield	1.17%	1.04%	5.14%	5.19%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 2, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	8.97	9.29	8.90	17.66	12.98	25.58
Forward PE	7.75	8.92	7.94	15.15	10.76	24.13
P/FCF Ratio	2.33	3.96	3.57	8.62	25.84	-
PS Ratio	2.52	2.55	2.31	4.68	3.41	7.42

Data Sources: Fiscal.ai and S&P Global Market Intelligence Last updated: May 18, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company. Revenue segment data is provided by S&P Global Market Intelligence.

Update frequency:

Quarterly

Last checked:

Jul 29, 2026

Data Sources Report a data error