| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 19.8x | 17.8x | Around median | |
Growth | 93 | 48.4% | 7.1% | Top tier | |
Quality | 98 | — | — | Top tier | |
Safety | 23 | — | — | Bottom tier | |
Capital Return | 7 | — | 2.12% | Bottom tier | |
Momentum | 49 | -8.9% | 2.9% | Around median | |
Sentiment | 44 | 11 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Nu Holdings is the parent company of Nubank, a technology-based digital bank without a traditional branch network, serving individuals and small businesses in Brazil, Mexico, and Colombia. The business generates income from credit, fees, and returns on liquidity and deposits; in Q2 FY2026, credit accounted for 41% of gross profit, fees 25%, and returns on liquidity 34%. The customer base reached 139 million, including approximately 118 million in Brazil and more than 5 million in Colombia, while the number of customers in Mexico reached 16 million by the end of July 2026.
In Q2 FY2026, total revenue reached approximately $5.9 billion, up 39% year over year under the company’s currency-neutral managerial framework, while net revenue reached $4.1 billion. Gross profit rose to $2.4 billion, growing 43% year over year and 25% quarter over quarter, and net income exceeded $1 billion for the first time, reaching $1.1 billion, up 49% year over year and 17% quarter over quarter. Return on equity was 33%, net interest margin was 22.9%, risk-adjusted net interest margin was 12.4%, and the efficiency ratio remained stable at 19.5%.
EDGAR data shows a clear transformation in scale and profitability over the last three fiscal years; revenue rose from $4.8 billion in FY2022 to $8.0 billion in FY2023 and then $11.5 billion in FY2024. During the same period, net income improved from a loss of $364.6 million to a profit of $1 billion and then $2 billion, while gross profit increased from $1.7 billion to $3.5 billion and then $5.3 billion.
The analyst consensus is Buy, with an average target of $16.04 and a target range of $13 to $19. The average target lies within the 52-week range of $11.2 to $18.98, while the highest target nearly matches the top of that range, reflecting a combination of confidence in growth and clear divergence over its sustainable magnitude. The available data does not provide a valid P/E multiple for comparison, so the available valuation is based on the target range, the $73.5 billion market capitalization, and the sustainability of profitability and margins.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Total revenue reached approximately $5.9 billion, and gross profit rose 43% year over year to $2.4 billion. Net income reached $1.1 billion, up 49% year over year, exceeding $1 billion for the first time in Nubank’s history. Return on equity was 33%, with a risk-adjusted net interest margin of 12.4% and an efficiency ratio of 19.5%.
The next stage depends on increasing Nubank’s share of existing customers’ spending and assets, as average revenue per active customer reached $17 in Q2 FY2026. The company launched Croma in July 2026 for the Super Core segment, while Ultravioleta recorded year-over-year growth of 41% in purchases and 37% in assets under custody. The company also serves approximately 6.8 million small businesses, but it still reaches only about one-third of Brazil’s small-business market.
Nu Holdings had 16 million customers in Mexico by the end of July 2026, equivalent to 16.5% of the adult population, and deposits reached $5.7 billion. The company obtained a full banking license in August 2026, enabling direct payroll deposits and expanded credit and banking products. Average revenue per active customer reached $12.3 at a penetration stage comparable to the $5.6 level in Brazil, while the Mexico business reached breakeven within six years.
Automated analysis for informational purposes only — not investment advice.
Loans 15 to 90 days past due improved by 16 basis points to 4.8%, while delinquencies of more than 90 days increased by 35 basis points to 6.9%. The cost of credit reached $1.7 billion, and provisions rose to $6.6 billion, driven mainly by portfolio growth and intentional risk expansion. Coverage of delinquencies of more than 90 days reached 244%, while the Desenrola program helped approximately 1.8 million customers renegotiate overdue balances.
Nu Holdings uses the NuFormer platform in credit models in Brazil and Mexico and expanded it during the first half of FY2026 to unsecured loans in Brazil and new core credit models. The platform reduced the fine-tuning data volume required to achieve the same predictive performance from more than 400 million rows to 20 million rows, while increasing training and inference speed fourfold. AI agents also handle more than 60% of customer support conversations in Brazil, and the platform’s models have been used in more than 100 marketing campaigns.
The average analyst target is $16.04, within a relatively wide range of $13 to $19, compared with a 52-week range of $11.2 to $18.98. The available data does not include a valid P/E multiple, despite the market capitalization reaching $73.5 billion, reducing the number of available valuation anchors. Justifying the valuation depends heavily on the sustainability of earnings growth, control of credit delinquencies, and successful expansion in Mexico and new markets.
