Added to YB: 2026-09-03
Pitch date: 2026-08-31
XP [neutral]
XP Inc.
+10.38%
current return
Author Info
No bio for this author
Company Info
XP Inc. engages in the provision of financial products and services in Brazil. It operates XP Platform, an open product platform that provides clients to access investment products in the market comprising brokerage securities, fixed income securities, mutual, hedge, and private equity funds; derivatives and synthetic instruments; credit cards; loan operations/collateralized credit products; pension and social security funds, and life and travel insurance products; and other investment products comprising real estate funds, and equity and debt capital markets solutions, as well as wealth management services.
Market Cap
$47.9B
Pitch Price
$18.11
Price Target
N/A
Dividend
1.10%
EV/EBITDA
N/A
P/E
9.31
EV/Sales
N/A
Sector
Capital Markets
Category
N/A
WD #356: Various Brazilian Stocks - XP Inc.
XP (pass): XP’s brief 2022/23 long was exited quickly, and little upside has been missed. The pandemic trading boom has faded; recent dollar-reported revenue growth largely reflects Brazilian-currency appreciation, while underlying growth is mid-single-digit. An ~8x forward P/E is reasonable, but retail take rate fell to 120 bps from 125 bps, and unresolved allegations in a leaked, unpublished short report about core profitability support maintaining no exposure.
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