profit from every $100 of sales.
$0$100
XP
$15.04-2.24% today
-21.7% in 1 year
1-year low $14.041-year high $32.60
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $8.33 for every $1 of profit it makes in a year.
CheapExpensive
Not measured for banks and insurers: deposits and policy reserves count as debt, so the usual debt test says nothing about them.
Money in, money out
What XP sold, what it kept, and what it did with the cash.
Sales went from R$5.94 billion in 2022 to R$7.97 billion in 2025, with R$5.17 billion of profit last year.
SalesProfit
XP handed back 21% of the cash it generated last year.
Buybacks R$1.9BR$495M
Free cash flow 2025R$11.6B
Bought back its own sharesR$1.9B
Paid as dividendsR$495M
Cash vs. debtR$10.4B vs. R$106.8B
XP vs. similar companies
XP grows in the middle of these 5 and is the cheapest for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| XP | 8.3× · Cheap | ||
 Morgan Stanley | 17.5× · Fair price | ||
 The Goldman Sachs Group | 15.3× · Fair price | ||
 The Charles Schwab | 17.9× · Fair price | ||
 Interactive Brokers Group | 140.8× · Very expensive |
AI analysis
An AI analyst reads XP's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of BRL | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 5,940 | 6,532 | 7,425 | 7,967 | |
| 1,048 | 1,556 | 1,821 | 1,950 | |
| -3,563 | -3,865 | -3,916 | -4,517 | |
| 4,053 | 4,806 | 6,031 | 6,378 | |
| 3,579 | 3,899 | 4,513 | 5,170 | |
| 6.25 | 7.16 | 8.23 | 9.72 | |
| 17.6% | 23.8% | 24.5% | 24.5% | |
| -60.0% | -59.2% | -52.7% | -56.7% | |
| 60.2% | 59.7% | 60.8% | 64.9% |
Balance sheet
| In millions of BRL | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 192,035 | 249,041 | 347,457 | 396,528 |
| Cash | 3,553 | 3,943 | 5,611 | 10,357 |
| Total debt | 33,656 | 68,559 | 115,134 | 106,763 |
| Total liabilities | 174,992 | 229,590 | 327,410 | 372,981 |
| 17,036 | 19,449 | 20,044 | 23,547 | |
| 573 | 544 | 548 | 532 | |
| 6.0% | 4.1% | 3.4% | 3.7% | |
| 21.0% | 20.0% | 22.5% | 22.0% |
Cash flow
| In millions of BRL | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 1,804 | 8,127 | 11,179 | 12,045 | |
| 127 | 196 | 330 | 490 | |
| 1,677 | 7,931 | 10,849 | 11,555 | |
| Dividends paid | 0 | 3,542 | 2,037 | 495 |
| 1,815 | 916 | 1,354 | 1,901 | |
| 585 | 366 | 417 | 392 |
This is a bank or insurer, so cash-flow and debt ratios are left out: borrowing and lending is the business itself. Price to book and return on equity are the measures that matter here.
Valuation
- 8.3×
- 1.4×
- 0.52
- 1.7×
- 5.4×
- 12.0%
- 1.1%
Profitability
- 64.9%
- 3.9%
- 4.4%
- 22.5%
- 1.3%
Growth
- +10.3%
- +15.9%
- –
- −2.4%
How it ranks in Financial Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 48%of 828
Bottom 2%of 711
Top 18%of 875
Top 42%of 878
Top 7%of 926
What analysts expect
- Average price target
- $23.50
- Range
- $22.00 – $25.00
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 18, 2026 | 0.47 | 0.48 | −2.1% |
| Feb 12, 2026 | 0.46 | 0.45 | +2.2% |
| Nov 17, 2025 | 0.45 | 0.46 | −1.5% |
| Aug 18, 2025 | 0.43 | 0.43 | +0.0% |
| May 20, 2025 | 0.39 | 0.40 | −2.5% |
| Feb 18, 2025 | 0.38 | 0.36 | +6.9% |
| Nov 19, 2024 | 0.39 | 0.38 | +2.6% |
| Aug 13, 2024 | 0.39 | 1.98 | −80.3% |
1.1%of the share price, paid each year
On $1,000 invested$11a year at today's yield, before tax
–per share
Raised–not every year
Paid per share, each year
$1.32 in 2023 → $0.18 in 2025
How safe it looks
9.6% of its profit
Room to growStretchedMore than it earns: 4.3%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
2/7Passes 2 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
54No pass
Benjamin Graham
61Pass
Philip Fisher
58No pass
Peter Lynch
69Pass
Joel Greenblatt
29No pass
Charlie Munger
44No pass
Terry Smith
47No pass
Questions about XP
Is XP a good stock to buy?
A strong, very profitable business, and the price looks low. 2 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the XP AI analysis
What does XP do?
XP Inc. engages in the provision of financial products and services in Brazil. It is in Capital Markets, based in George Town, Cayman Islands.
Does XP pay a dividend?
Yes. At today's price the dividend is 1.1% a year, about 10% of its yearly profit. In 2025 it paid out $495 million in dividends.
Is XP stock halal?
No. XP does not pass our halal screen: its debt is 248% of its market value, at or above the 33% limit. How we check
How has XP stock done over the past year?
Down 21.7% over the past twelve months, to $15.04. It traded between $14.04 and $32.60 and is 53.9% below its high.
Who are XP's competitors?
The largest listed companies in the same industry are Morgan Stanley, The Goldman Sachs Group, The Charles Schwab and Interactive Brokers Group. The peers table on this page compares their profit, growth and price with XP's.
Prices: daily closes to Nov 12, 2026. Fundamentals: company reports via invest-like data.