Rankings Financial data & insurance broking Nu Holdings
Nu Holdings
90
15070100
A view of the same findings, not a new score. How it works
In the 70+ zone: a score above 70 with more than 20% upside to the median analyst target.
Biggest deductions
- Credit quality−6
- Quality of growth−4
- Peers−4
Strengths
- Record earnings+2
- Broad customer base and cheap funding+2
- Banking licence in Mexico+1
How the score is built
From 100 to 90, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 11.62 USD
- Median analyst target
- 19.00 USD
- Upside to median
- +63.5%
- Analysts
- 23
- Target range
- 12.00 – 23.00 USD
- 52-week change
- −28%
- P/E (trailing)
- 15.8
- Forward P/E
- 11.9
- PEG
- 0.42
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 1 finding−4 of −30
- −4Quality of growthThe interest margin rose 180 bp to 22.9% in Q2 driven by a shift towards unsecured lending and 'deliberate risk expansions'; the efficiency ratio worsened from 17.6% to 19.5%. Part of the growth is bought with higher credit risk.
Price
Today's multiples against the company's own history and its peers. · 2 findings−4 of −35
- ±0Multiples vs own historyP/E 18.3 vs 25–38 in 2023–2025, forward P/E 13.8 vs 19.8–26.5 and P/B 4.9 vs 6.2–7.2 in 2023–2025: cheaper than its own (short) history.
- −4PeersP/E 18.3 and P/B 4.9 vs Itaú 10.9/2.24 and Inter&Co 8.3/1.19; ROE 31.6% vs 21.5% and 16.2% explains part, but not all, of the premium.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−15 of −35
- −6Credit quality90+ NPL rose 35 bp to 6.9%; credit cards (26bn) and unsecured lending (10.3bn) make up 92% of a loan book of USD 39.4bn that grew 37% over a year, while Nu is deliberately expanding into riskier segments.
- −4Macro, interest rates and currencyAbout 118 of 139m customers are in Brazil; earnings are in BRL and translated into USD, and the cost of deposits (88% of the interbank rate) makes the margin sensitive to the Selic rate. The stock is −12% over a year.
- −3Tax and regulationA Brazilian bill raises the CSLL tax for fintechs from 9% to 12% in 2026 and 15% in 2028 (15%→17.5%→20% for the most highly taxed); Nu is applying for a full banking licence in Brazil, which also changes the tax and capital requirements.
- −2GovernanceTwo share classes (3.81 of 4.83bn shares in the listed class); the founders have voting control via B shares with enhanced voting rights, and insiders own 22.8%.
Plus
Only documented strengths. · 3 findings+5 of +15
- +2Record earningsNet result USD 1.06bn in Q2 (+49%, first time above 1bn), ROE 33% and risk-adjusted NIM 12.4% (from 9.5%).
- +2Broad customer base and cheap funding139m customers in Brazil, Mexico and Colombia; deposits USD 45.3bn (+18%) at below the interbank rate.
- +1Banking licence in MexicoThe bank in Mexico was launched in Aug 2026 with about 16m customers as the country's largest digital bank; opens for more products and cheaper deposits.
Caveats
What the score does not capture, or where the data is weak.
Bank: FCF, EV and ROIC are not meaningful (negative operating cash flow is loan growth); valuation on P/E and P/B. Stockanalysis' revenue is net after interest expense, while the consensus for 2026 (22.8bn) is gross, so the growth forecast is not comparable. Buybacks (USD 500m) give no plus, as FCF cannot be determined for a bank. Price USD 13.43, market cap USD 64.9bn (2 Oct 2026)
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