XP revenue and financials
$29.33Change from previous close: +4.19%Absolute change: +$1.18
In the fiscal year ended December 2025, XP reported revenue of R$17.77B (+139.37% year over year). Net income was R$5.17B, a net margin of 29.1%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +139.37%
- 2025 vs 2024
- Net income growth
- +14.54%
- 2025 vs 2024
- Net margin
- 29.1%
- 2024: 60.8%
Financial data
Amounts in millions of BRL; per-share values in BRL; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -1,163 | 4,689 | -2,385 | 12,307 | 4,756 | -2,634 | 3,820 | 4,689 | 6,016 | -3,346 | 4,129 | -1,219 |
| Depreciation and amortization | 92.3 | 73.8 | 7.9 | 67.7 | 70.5 | 68.0 | -3.9 | 72.0 | 65.8 | 68.1 | 10.8 | 71.3 |
| Capital expenditure | -35.9 | -52.9 | -56.7 | -89.2 | -43.2 | -20.2 | -27.2 | -54.1 | -30.6 | -33.0 | 1.0 | -59.2 |
| Investing cash flow | -118 | -311 | -150 | -310 | -103 | -154 | -101 | -301 | -548 | -717 | -11.9 | 571 |
| Financing cash flow | -2,283 | 28.3 | -2,735 | -1,599 | -742 | 150 | -2,153 | -1,091 | -2,476 | -63.9 | -1,580 | -218 |
| Dividends paid | -518 | — | -495 | — | — | — | -2,037 | — | — | — | -1,965 | -1,578 |
| Share repurchases | -798 | -197 | -852 | -134 | -417 | -498 | -105 | — | -1,238 | -10.3 | — | — |
| Debt issued | 1,356 | 261 | 0.0 | 241 | 424 | 1,961 | — | 1,159 | — | — | 1,000 | 1,438 |
| Debt repaid | -2,322 | -35.2 | -1,388 | -1,707 | -749 | -1,313 | -11.3 | -2,250 | -1,238 | -53.4 | -610 | -77.6 |
| Effect of exchange rates | 1.5 | -24.1 | -78.7 | -1.8 | 28.7 | -38.8 | -93.5 | 37.3 | 18.4 | 9.5 | -16.0 | 6.6 |
| Net change in cash | -3,563 | 4,382 | -5,348 | 10,396 | 3,940 | -2,677 | 1,472 | 3,335 | 3,010 | -4,118 | 2,521 | -859 |
| Free cash flow | -1,199 | 4,636 | -2,441 | 12,218 | 4,713 | -2,654 | 3,793 | 4,635 | 5,985 | -3,379 | 4,130 | -1,278 |