XP Inc. (XP)
XP Inc. reported revenue of R$7.4B in fiscal 2024, up 13.7% from a year earlier. Net income was R$4.5B, a net margin of 60.8%. Operating cash flow minus capital spending left R$11B of free cash flow in fiscal 2024. At December 31, 2024 it held R$12.9B in cash against R$1.7B of debt. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 29, 2026.
Key facts about XP Inc.
- Net worth
- XP Inc. has a market value (market cap) of $8B at the latest share price, and shareholders' equity of R$20B on its balance sheet at December 31, 2024. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2024 revenue was R$7.4B (+13.7% year on year), with net income of R$4.5B.
- Cash flow
- In fiscal 2024 operations brought in R$11.2B of cash; after R$144.8M of capital spending, free cash flow was R$11B.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on April 29, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What XP Inc. does
XP Inc. is registered with the SEC under industry code SIC 6211 (Security Brokers, Dealers & Flotation Companies). Its shares trade on NASDAQ under the ticker XP.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2024 | R$7.4B | R$4.5B | R$8.23 | R$11B |
| 2022 | R$6.5B | R$3.9B | R$7.16 | R$8.1B |
| 2022 | R$5.9B | R$3.6B | R$6.25 | R$1.8B |
| 2021 | R$6.2B | R$3.6B | R$6.26 | -R$4.2B |
| 2020 | R$5B | R$2.1B | R$3.71 | R$1.4B |
| 2019 | R$3.6B | R$1.1B | R$2.11 | -R$3.9B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where XP ranks in Finance
Dividends
It paid out R$2B in cash dividends, 45% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2024 | n/a | R$2B | 45% |
| 2022 | n/a | R$3.5B | 91% |
| 2022 | n/a | R$0 | 0% |
| 2021 | n/a | R$0 | 0% |
| 2020 | n/a | R$0 | 0% |
| 2019 | n/a | R$500M | 46% |
Latest SEC filings
What XP Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 16, 2026
- August 17, 2026
- August 17, 2026
- August 17, 2026
- August 13, 2026Passive stake (5% or more) SCHEDULE 13G
- July 30, 2026Passive stake changed SCHEDULE 13G/A
- July 7, 2026Activist stake changed SCHEDULE 13D/A
- May 29, 2026
- May 26, 2026
- May 18, 2026
Insider trades
What the people running XP Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $2.4M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 16, 2026 | Dos Santos Bruno Constantino AlexandreDirector | Soldindirect | 123,257 | $2.4M |
Who owns XP
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| XP Control LLC13D, may seek influence with 1 related filers | 18.7% | July 7, 2026 |
| Dodge & Cox13G, passive | 7.9% | August 13, 2025 |
| ARGA Investment Management, LP13G, passive with 1 related filers | 5.9% | August 13, 2026 |
| General Atlantic, L.P.13D, may seek influence with 29 related filers | 5.4% | December 4, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 320 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 48,995,053 | +2,481,905 |
| Dodge & Cox | 32,564,312 | -162,376 |
| ARGA Investment Management, LP | 24,643,382 | +3,944,247 |
| General Atlantic, L.P. | 20,566,133 | 0 |
| Capital World Investors | 19,370,669 | +267,374 |
| Massachusetts Financial Services Co | 12,558,750 | +227,699 |
| State Street Corp | 9,695,792 | -68,187 |
| Ninety One UK Ltd | 8,058,589 | +2,912 |
| Fmr LLC | 7,976,508 | -1,109,197 |
| Arrowstreet Capital, Limited Partnership | 7,026,948 | -632,279 |
| Marshall Wace, Llp | 6,528,760 | +3,288,393 |
| Morgan Stanley | 6,489,878 | +508,986 |
| Capital Research Global Investors | 5,038,054 | +36,872 |
| Bank of America Corp | 4,831,527 | -315,718 |
| Geode Capital Management, LLC | 4,845,463 | +71,459 |
| SPX Gestao de Recursos Ltda | 4,813,132 | +3,626,059 |
| Franklin Resources Inc | 4,470,393 | +1,455,097 |
| Fisher Asset Management, LLC | 4,105,772 | -295,076 |
| Seafarer Capital Partners, LLC | 3,911,000 | +140,000 |
| Norges Bank | 3,722,196 | new |
Insiders
1 insiders reported holding 1,500,000 shares in total, about $23.2M at the last price.
| Holder | Shares |
|---|---|
| Dos Santos Bruno Constantino AlexandreDirector | 1,500,0001,500,000 held indirectly |
Questions about XP
What does XP Inc. do?
XP Inc. is a company in the Finance sector, listed on NASDAQ as XP. Its shares trade on NASDAQ under the ticker XP.
What is XP Inc.'s net worth?
XP Inc. has a market value (market cap) of $8B at the latest share price, and shareholders' equity of R$20B on its balance sheet at December 31, 2024. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is XP Inc. profitable?
Yes. In fiscal 2024 it reported net income of R$4.5B on revenue of R$7.4B, a net margin of 60.8%.
How much revenue does XP Inc. make?
In fiscal 2024 XP Inc. reported revenue of R$7.4B. That is 13.7% more than a year earlier.
When did XP Inc. last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 29, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the new insider holdings from October 26, 2026.
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Where the numbers come from
Financial figures are the values XP Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.