Itau Unibanco Holding S.A. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Itau Unibanco Holding S.A. files with the SEC in its annual reports.

In BRL millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue			111,523	104,200	117,079	100,199	126,374	142,279	154,971	168,050
Income tax	-7,891	13,663	7,357	4,969	3,430	9,834	-13,847	-6,452	-5,823	-5,428
Net income to minority interests	416	389	32	732	700	-3,832	1,624	1,035	772	1,043
Net income	25,740	21,627	23,193	24,907	27,113	18,896	26,760	29,207	33,105	41,085

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	104,785	96,119	83,314	95,558	70,811	105,823	103,887	104,257	116,543	117,286
Property, plant and equipment	8,541	8,042	7,359	7,302	7,166	6,937	6,963	7,767	9,135	9,193
Goodwill	2,057	9,675	10,716
Intangible assets	6,295	7,381	8,667
Total assets	1,276,415	1,351,314	1,436,239	1,552,797	1,637,481	2,019,251	2,069,206	2,321,066	2,543,100	2,854,475
Total liabilities	1,162,356	1,218,930	1,291,883	1,402,331	1,488,016	1,864,726	1,904,730	2,143,959	2,344,050	2,633,191
Total debt				75,353	85,271	89,253	103,512
Shareholders' equity		122,582	131,378	136,782	136,925	142,993	152,864	167,717	190,177	211,090
Minority interests		12,232	12,978	13,684	12,540	11,532	11,612	9,390	8,873	10,194
Total equity	113,597	132,384	144,356	150,466	149,465	154,525	164,158	177,107	199,050	221,284
Total liabilities and equity	1,275,953	1,353,241	1,436,239	1,552,797	1,637,481	2,019,251	2,069,206	2,321,066	2,543,100	2,854,475

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	26,156	22,016	23,225	25,639	27,813	15,064	28,384	30,242	33,877	42,128
Depreciation and amortization		2,995	3,034	3,332	4,630	5,548	5,064	5,750
Cash from operations	-34,459	36,072	23,183	29,723	35,160	59,491	54,306	129,633	77,493	7,069
Capital expenditures	-1,466	-1,364	-943	-1,483	-1,621	-1,716	-1,414	-2,727	-3,815	-1,833
Cash from investing	-361	-16,727	-13,656	13,115	-38,659	753	-4,841	-73,270	-31,230	6,968
Share buybacks			-3,089
Dividends paid	932	-987	-1,074	-5,413	-9,697	2,261	1,596	293
Cash from financing	-8,529	-10,070	-21,690	-31,584	-21,302	-13,555	-31,460	-31,714	-22,448	-21,698
Exchange rate effect	9,681	-17,941	-642	990	54	-11,677	-19,941	-24,279	-11,529	8,404
Net change in cash	-43,350	22,411	-12,118
Free cash flow	-35,925	34,708	22,240	28,240	33,539	57,775	52,892	126,906	73,678	5,236
Interest paid	58,436	79,227	71,456	84,668	77,315	77,011	73,458	107,468	115,518	131,096

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Net margin	24.4%	Net income / revenue.
FCF margin	3.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.2%	Cash from operations / revenue.
Return on equity (ROE)	20.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.5%	Net income / average total assets.
Capex / revenue	1.1%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	24.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	15.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	8.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-90.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-49.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-27.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-92.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-53.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-31.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	11.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	12.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	11.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	92.2%	Total liabilities / total assets.
Tangible book value	R$211.09B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.06x	Revenue / average total assets.
Fixed asset turnover	18.3x	Revenue / average property, plant and equipment.
FCF conversion	12.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	25.9%	Capital expenditures / cash from operations, when that is positive.

What was Itau Unibanco Holding S.A.'s revenue in fiscal 2024?

Itau Unibanco Holding S.A. reported revenue of R$168.05B for fiscal 2024, 8.4% higher than the year before.

Was Itau Unibanco Holding S.A. profitable in fiscal 2024?

Yes. Net income was R$41.09B, a net margin of 24.4%.

How much free cash flow did Itau Unibanco Holding S.A. generate in fiscal 2024?

Cash from operations of R$7.07B minus capital expenditures of R$1.83B left free cash flow of R$5.24B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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