XP Inc. provides financial products and services in Brazil. The company operates XP Platform, an open product platform that provides clients to ...
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Est. EPS $2.74 · Revenue $5.08B · 2 analysts
Est. EPS $2.87 · Revenue $5.29B · 2 analysts
Est. EPS $10.54 · Revenue $20.09B · 3 analysts
Est. EPS $2.97 · Revenue $5.27B · 1 analysts
EPS BRL 2.74 · Revenue BRL 4.99B
$2.03 per share
$2.03 per share
EPS BRL 2.42 · Revenue BRL 4.62B
EPS BRL 9.72 · Revenue BRL 18.24B
EPS BRL 2.47 · Revenue BRL 4.59B
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $18.2B | -8.2% | +8.2% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $5.1B | -2.1% | +10.7% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +67.4% | -0.5% | +0.9% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +32.4% | -2.3% | +6.6% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +27.8% | +6.7% | +2.3% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $11.8B | +9.1% | +1501.7% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +64.9% | +18.9% | +1380.1% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 362.3% | -36.9% | +2.1% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.56x | -29.9% | +2.6% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $396.5B | +14.1% | -0.4% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 9.72 vs 9.69 | +0.3% | 2.74 vs 2.74 | -0.1% |
| Revenue Surprise | $18.2B vs $18.3B | -0.4% | $5.0B vs $5.1B | -1.6% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | Viviani Gustavo Alejo | officer: Chief Financial Officer | Class A Common Shares | — | 0 | — |
| May 29, 2026 | Majolo Jose Luiz | director: | — | — | 0 | — |
| Mar 18, 2026 | Benchimol Guilherme Dias Fernandes | director | Class A Common Shares | — | 0 | — |
| Mar 18, 2026 | Benchimol Guilherme Dias Fernandes | director | Class B Common Shares | — | 101,752,469 | — |
| Mar 18, 2026 | RODRIGUEZ OSCAR | director: | — | — | 0 | — |
Andre Parize: Before we begin, please take a moment to review the legal disclaimer on page 2 of today's presentation, which addresses forward-looking statements. The full presentation is available for download on our Investor Relations website. And you will find additional materials in the SEC filings section of our IR website. Now I hand it over to Thiago Maffra. Thiago Maffra: Good evening, Maffra. Thank you, Andre. Good evening, everyone. And thank you for joining our second quarter 2026 earnings call. I would like to begin by welcoming Gustavo Alejo Viviani, our new CFO. He joins us at an exciting time just after the biggest expert in your history, an event that showed how far we have come and how much further we aim to go. Now let's dive into our second quarter 2026 numbers. Beginning with the key highlights of the quarter, client assets combining AUM and AUA reached $2.2 trillion representing a 17% year over year growth. We ended the period with 18.4 thousand advisors, up 1% year over year, while our active client base totaled 4.8 million. A 1% increase year over year. Gross revenues amounted to $5.1 billion this quarter, up 8% from the same period last year. EBT advanced 15% to $1.6 billion while net income came to $1.4 billion rising 5% year over year. In terms of profitability, our ROE increased 80 bps sequentially to 22.5%. Our capital ratio stood at a comfortable 20.3% reflecting our ability to grow while maintaining disciplined capital and risk management. Also, our EPS grew 9% year over year. Stronger than our net income growth thanks to our capital management and payout strategy. The second quarter of 26 was again marked by ongoing global geopolitical tensions and residual market volatility. While these headwinds materialized with less intensity than in the previous quarter, they still impacted our results. Particularly through the widening of credit spreads and a reduction in primary GCM offerings. Without these effects, we would have achieved double digit revenue growth with a low teens expansion year over year. This demonstrates that despite the market volatility we faced in the first half of the year, our core businesses continued to perform well with resilient underlying momentum. Towards the end of the quarter, we began to see signs of normalization across markets, with a gradual recovery in the fixed income pipeline. We expect this pipeline to materialize into primary offerings over the coming quarters, depending on the market dynamics. That said, depending on how these dynamics evolve, we continue to target double digit growth throughout 2026, supported by stronger execution across key verticals and a more diversified revenue base. This quarter, we continued to launch products for both individuals and businesses, and our ecosystem is becoming more complete every day. We have a clear ambition, to be the investment leader in Brazil by 2033, but that leadership will come hand in hand with increasing completeness in everything …
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
Fabrício Cunha de Almeida | General Counsel | Male | 1982 | Active |
Gustavo Alejo Viviani | Chief Financial Officer | Male | 1975 | Active |
Thiago Maffra | CEO & Director | Male | 1985 | Active |
Marco Goncalves | Head of M&A | — | — | Active |
Andre Parize | Chief Investor Relations Officer | Male | — | Active |
Antonio Guimarães | Investor Relations Officer | Male | — | Active |
Jose de Menezes Berenguer Neto | CEO of Banco XP S.A. & Director | Male | 1966 | Active |
Ygor Gomes Altero | Equity Research Analyst | Male | — | Active |
Guilherme Dias Fernandes Benchimol | Founder & Executive Chairman | Male | 1978 | Active |
Gabriel Dos Santos | Head of Recruitment & Selection | — | — | Active |
Investors looking for stocks in the Financial - Miscellaneous Services sector might want to consider either XP Inc.A (XP) or Blackstone Inc. (BX). But which of these two stocks offers value investors a better bang for their buck right now?
The mean of analysts' price targets for XP Inc.A (XP) points to a 41.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
On June 22, 2026, XP Inc (XP) shares rose 4.5% today, with the current price at $15.99. The stock has traded within a 52-week range of $14.80 to $23.13.
