Financials in USD. Standardized financial statements.
A compact view of how XP Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $18.24B | $19.87B | $14.82B | $14.18B | $12.97B | $8.60B | $5.17B | $3.16B | $2.00B | $1.18B |
| Revenue Growth? | -8.2% | +34.1% | +4.5% | +9.3% | +50.9% | +66.4% | +63.7% | +58.1% | +69.8% | 0.0% |
| Cost of Revenue? | $5.95B | $6.42B | $4.83B | $4.44B | $4.05B | $2.96B | $1.73B | $1.11B | $657.52M | $395.23M |
| Gross Profit? | $12.29B | $13.45B | $9.99B | $9.74B | $8.93B | $5.64B | $3.43B | $2.05B | $1.34B | $780.69M |
| Gross Margin? | +67.4% | +67.7% | +67.4% | +68.7% | +68.8% | +65.6% | +66.4% | +64.8% | +67.1% | +66.4% |
| Operating Expenses? | $6.37B | $6.86B | $5.45B | $5.70B | $4.77B | $3.05B | $1.83B | $1.24B | $654.82M | $426.47M |
| Operating Income? | $5.91B | $6.60B | $4.55B | $4.05B | $4.15B | $2.59B | $1.61B | $806.56M | $684.75M | $354.22M |
| EBITDA? | $6.25B | $6.92B | $4.73B | $4.20B | $4.35B | $2.64B | $1.67B | $812.32M | $687.90M | $371.59M |
| Income Before Tax | $5.34B | $5.72B | $3.87B | $3.57B | $3.97B | $2.44B | $1.50B | $679.62M | $596.21M | $349.99M |
| Income Tax Expense | $273.78M | $540.43M | $36.37M | -$140.42M | $231.47M | $342.63M | $441.01M | $186.05M | $157.43M | $121.82M |
| Net Income? | $5.07B | $5.18B | $3.84B | $3.71B | $3.73B | $2.09B | $1.05B | $489.45M | $428.77M | $176.60M |
| EPS? | $9.80 | $8.23 | $7.16 | $6.44 | $6.42 | $3.76 | $2.11 | $0.84 | $0.75 | $0.44 |
| Diluted EPS? | $9.72 | $8.23 | $7.16 | $6.25 | $6.26 | $3.71 | $2.11 | $0.84 | $0.75 | $0.44 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality