XP (XP)
Combines financial advice, open investment distribution, retail banking and wholesale services in Brazil.
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Connects Brazilian retail, high-net-worth and institutional clients with financial advice and an open shelf of proprietary and third-party products. Investments anchor a broader offering spanning banking, credit, insurance, retirement and corporate services, with distribution shaped by advisor networks, client activity and Brazil’s financial regulation.
Serves Brazilian retail, high-net-worth, international, corporate and institutional clients through financial advice and an open platform of proprietary and third-party products. The visible brand set includes XP Investimentos, Rico, Clear, XP Investments and XP Private Europe.
Combines an investments franchise with cards, deposits, lending, insurance, retirement products and a wholesale bank. Retail, Institutional, Corporate & Issuer Services and Other are management revenue categories within one operating and reportable segment.
Executes distribution through independent and employee advisors, registered investment advisors, consultants and wealth managers, while product breadth depends partly on outside issuers and asset managers. Revenue mechanics follow client assets and flows, product mix, market activity and transaction volumes. Brazil remains the core market, so banking, brokerage, insurance, pension, lending, market-infrastructure and data rules shape the business.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 31, 2026 | Itau BBA | Upgrade | ||
| Jan 19, 2026 | Jefferies | Target | Target: — | Target: $22 |
| Dec 16, 2025 | UBS | Reiterate | Rating: —Target: $23 | Target: $25 |
| Oct 16, 2025 | UBS | Reiterate | Rating: —Target: $21 | Target: $23 |
| Jun 4, 2025 | Goldman Sachs | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.56B · Total debt $18.15B · Total assets $79.71B · Shareholders' equity $4.85B
- Revenue
- $977.2M
- Operating income
- $318.6M
- Net income
- $278.5M
Reported in BRL, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 63.67% | 333.07M ADS | |
|---|---|---|---|
| 348 holders · as of Jun 30, 2026 | |||
| Insiders | 102.57% | 536.58M ADS | |
| 12 holders · as of Aug 7, 2026 | |||
| Strategic holders | 10.99% | 57.47M ADS | |
| 1 holder · as of Jul 7, 2022 | |||
| Adds to | 177.23% | ||
523.13M ADS as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
These groups come from separate filings that can overlap, so they add to 177.23%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
XPart S.A.Insider | 43.30% | 226.52M | filed Jun 10, 2021 |
Participações S.A.Insider | 24.41% | 127.69M | filed Feb 14, 2020 |
RuleInsider | 23.20% | 121.36M | filed Feb 4, 2021 |
IUPAR - Itaú Unibanco Participações S.A.Insider | 11.32% | 59.20M | filed Oct 13, 2021 |
Itaúsa S.A.Strategic | 10.99% | 57.47M | filed Jul 7, 2022 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | Santos Bruno Constantino Alexandre Dos | director | −123,257 | $19.58 |
- Itaú Unibanco (ADR)
Universal-bank overlap in investments, credit, cards, insurance, and wholesale
- Banco Bradesco (ADR)
Broad Brazilian banking rival with investments, insurance, and pensions
- Nu
Digital-first pressure across accounts, cards, lending, and investments
- Santander Brasil (ADR)
Retail, wealth, insurance, and wholesale overlap across Brazil
- Inter & Co
Digital super-app rival spanning banking, investments, credit, and insurance
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| XP | $21.14 | +1.71% | $10.87B | 10.5 | 11.5 | 2.9 | +16.7% |
| Itaú Unibanco (ADR) | $8.45 | −0.06% | $93.13B | 10.6 | 11.1 | 1.2 | −51.6% |
| Banco Bradesco (ADR) | $3.57 | +1.42% | $37.23B | 8.0 | 8.1 | 0.6 | +21.1% |
| Nu | $14.05 | −0.11% | $68.09B | 19.0 | 14.0 | 3.5 | +66.0% |
| Santander Brasil (ADR) | $5.85 | −0.60% | $44.03B | 9.6 | 9.0 | 0.6 | +9.5% |
| Inter & Co | $5.52 | −0.92% | $2.46B | 8.2 | 8.2 | 0.8 | −18.0% |
| Median | 9.6 | 9.0 | 0.8 | +9.5% |