Summary
NU at a glance
Nu Holdings (NU) closed at $11.61 on Oct 30, 2026, overvalued by 23% vs model: P/TBV · justified puts it at $9.45 a share. The other 3 models range from $19.52 to $24.79, and the median analyst target is $19.00 from 5 firms.
In Q2 FY2026, the latest quarter on file, revenue grew 50% on a year earlier to $5.5B, with a net margin of 19.2%. Over the twelve months to Q2 FY2026, net income was $3.6B.
Among the superinvestors tracked here, Stephen Mandel added and Lee Ainslie added. Insiders sold $6.0M and made no open-market purchases over the last 90 days. The latest filing is a 6-K (current report (foreign issuer)), filed Oct 23.
Price and model value
What the marks mean
Valuation
All 4 models →Nu Holdings closed at $11.61, overvalued by 23% vs model (P/TBV · justified, 9.45).
P/TBV · justified leads for a bank.
- Other models
- 19.52 – 24.79
- Wall St. target
- 19.00 39% below
- Above model, past year
- 0 of 0 days
- Valued as
- Mature & Stable
Every model
| P/TBV · justifiedused | $9.45 | 23% overvalued |
| P/E · peers | $19.52 | 41% undervalued |
| PEG | $21.86 | 47% undervalued |
| P/E · own history | $24.79 | 53% undervalued |
Against its peers and its past
| NU | Peers' median | Own 5-yr median | |
|---|---|---|---|
| P/E · last fiscal year | 20.0× | 31.1× | 28.4× |
| Free cash flow yield | — | 11.8% | |
| Operating margin | 24.4% | 17.7% | |
| Revenue growth | 43.0% | 18.4% |
Peers are the comparable companies below; the five-year median is at each fiscal year's close.
What the price implies
The free cash flow growth for five years, then a fade to 2.5%, at which today's price is a fair value — discounted at 9.1%. The reverse DCF →
- Risk-free rate
- 4.94%
- Beta × equity premium
- 0.97 × 4.14%
- Cost of equity
- 8.96%
- Cost of debt
- 15.00%
- Equity weight
- 91%
- WACC
- 9.14%
Quant
Quant grade over time →Quant grade not graded from model v1, set before the Oct 30 open. S is the best, D the worst. What the grade means
- SOFI–
- COF–
- SYF–
- AXP–
- HOODB
- PYPLA
Growth and forecasts
Every estimate →Analysts expect revenue to grow 30.3% a year over the next 3 years, against 94.2% a year over the last five.
| Revenue | Growth | EPS | Growth | Analysts | |
|---|---|---|---|---|---|
| FY2024 | $11.1B | +44.8% | $0.40 | +90.5% | reported |
| FY2025 | $15.9B | +43.0% | $0.58 | +45.0% | reported |
| FY2026E | $22.7B | +43.2% | $0.87 | +43.4% | 6 |
| FY2027E | $28.2B | +24.1% | $1.14 | +30.0% | 7 |
| FY2028E | $35.2B | +24.6% | $1.47 | +29.7% | 4 |
- Revenue, last 5 years
- 94.2% a year
- Consensus, next 3 years
- 30.3% a year
The analysts' estimates, as FMP collects them — their figures, not this site's. Reported EPS is GAAP diluted.
Financials
Full statements →In Q2 FY2026, the latest quarter on file, revenue grew 50% on a year earlier to $5.5B, with a net margin of 19.2%. Over the twelve months to Q2 FY2026, net income was $3.6B.
| Latest | Year before | Change | |
|---|---|---|---|
| Revenue | $19.5B | $12.6B | +54% |
| Net income | $3.6B | $2.3B | +57% |
| Diluted EPS | $0.74 | $0.46 | +61% |
- Cash and investments
- $33.3B
- Total debt
- $42.0B
- Shareholders' equity
- $13.2B
Profitability and health
Every ratio →Return on equity 25.4% in fiscal 2025, against −3.7% in 2021.
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | |
|---|---|---|---|---|---|---|
| Net margin | −10.9% | −8.1% | 13.4% | 17.8% | 18.1% | |
| Return on equity | −3.7% | −7.5% | 16.1% | 25.8% | 25.4% | |
| Return on assets | −0.8% | −1.2% | 2.4% | 3.9% | 3.8% | |
| Equity to assets | 22.4% | 16.3% | 14.8% | 15.3% | 15.1% | |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Peers
Peers in full →NU beside 6 comparable companies, chosen by business, not by industry label.
| Company | Market value | P/E | FCF yield | Gross margin | Op. margin | Revenue growth | Valuation | Quant |
|---|---|---|---|---|---|---|---|---|
| NU Nu Holdings Ltd. | $56.1B | 20.0× | — | 44.9% | 24.4% | +43.0% | – | – |
| AXP American Express Company | $214.0B | 20.8× | — | 83.2% | 17.1% | +8.4% | C | – |
| COF Capital One Financial Corporation | $125.7B | 50.8× | — | 47.3% | 3.3% | +28.4% | C | – |
| HOOD Robinhood Markets, Inc. | $67.4B | 41.5× | — | 83.3% | 46.8% | +51.6% | D | B |
| PYPL PayPal Holdings, Inc. | $47.4B | 10.5× | 11.8% | 46.6% | 18.3% | +4.3% | S | A |
| SYF Synchrony Financial | $24.5B | 8.1× | — | 51.0% | 24.2% | −7.9% | A | – |
| SOFI SoFi Technologies, Inc. | $21.6B | 43.0× | — | 75.1% | 11.0% | +28.8% | – | – |
Ownership
Every holder →| Stephen Mandel | added | $630.9M |
| Lee Ainslie | added | $475.0M |
| Chase Coleman | held | $147.4M |
| Guy Spier | added | $119.9M |
| Polen Capital | reduced | $10.1M |
| Glenn Greenberg | bought | $534,400 |
- Junqueira Cristina Helena ZingarettiOct 23 · US CEO & Chief Growth Officer−$106,957.9
- Fragelli Henrique Camossa SaldanhaOct 23 · Chief Risk Officer−$174,338.2
- Osorno David VelezOct 23 · Chairman and CEO−$607,220.1
- Young EricOct 23 · Chief Technology Officer−$6.5M
Wall Street
Every firm →5 firms published a price target in the last 90 days: the median is $19.00, 64% above the close.
Third-party ratings and targets, quoted as the firms published them — not this site's view.
Analyst actions
News and filings
All news →Recent
About
Company profile →Nu Holdings Ltd. provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States. The company provides spending solutions comprising Nu credit and prepaid card, a digitally enabled card that acts as a credit and a prepaid card; Nubank+ Tier, an evolution of the Nu experience; Ultraviolet credit and prepaid card, a premium metal credit card; mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones; and Nu Shopping, an integrated marketplace that enables customers to purchase goods and services from various ecommerce retailers. It also offers transactional solutions, such as Nu Personal Accounts, a digital account solution for personal financial activities; Nu business accounts for entrepreneur customers and their businesses; and Nu business prepaid and credit card. In addition, it offers savings and investing solutions, including Money Boxes, a solution for goal-based investing; investing solutions, an attractive investment product with customized and conflict-free guidance; and NuCrypto, a solution for buying and selling cryptocurrencies through the Nu app. Further, the company provides borrowing solutions comprising personal unsecured and secured loans; Pix financing that enables credit card and digital account customers to make free and instant peer-to-peer transfers; Boleto financing, which enables credit card and digital account customers to make payments; purchase financing; cash-in financing; and NuPay to make online purchases and pay for services through Nu app. Additionally, it offers protection solutions, such as NuInsurance protection solutions, including life, mobile, auto, home, and financial protection insurance policies; and beyond financial services solutions, including NuTravel, a travel portal; and NuCel, a mobile phone service. Nu Holdings Ltd. was founded in 2013 and is headquartered in São Paulo, Brazil.
- CEO
- David Velez Osorno
- Employees
- 8,037
- Headquarters
- São Paulo, SP
- Listed
- 2021
Research on NU
Model estimates and grades for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; each section is explained in the manual.