A Business at a Glance
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Item 4. Information on the company A. History and Development of the Company Corporate Information We were incorporated in the Cayman Islands as an exempted company with limited liability on February 26, 2016. Our registered office is located at c/- Campbells Corporate Services Limited, Floor 4, Willow House, Cricket Square, Grand Cayman, KY1-9010, Cayman Islands, and our telephone number at this address is +1 345 949 2648. Our website address is www.nubank.com.br. Information contained on, or that can be accessed through, our website is not part of, or incorporated by reference into, this annual report, and inclusions of our website address in this annual report are inactive textual references provided only for your informational reference. Our Nu Journey We launched Nu to revolutionize financial services for Latin American consumers and small businesses, challenging the status quo of incumbent banks.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 11.5B | 11.5B | 8.0B | 4.8B | 1.7B |
| Net Income | 2.0B | 2.0B | 1.0B | -365M | - |
| EPS | $0.40 | $0.40 | $0.21 | $-0.08 | $1,602,126.00 |
| Free Cash Flow | 2.4B | 2.4B | 1.3B | 756M | -2.9B |
| ROIC | 1028.8% | 28.1% | 18.2% | -7.8% | - |
| Gross Margin | 45.6% | 45.6% | 43.5% | 34.7% | 43.2% |
| Debt/Equity | 0.23 | 0.23 | 0.18 | 0.12 | 0.03 |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | 2.8B | 2.8B | 1.5B | -309M | -170M |
| Operating Margin | 24.3% | 24.3% | 19.2% | -6.4% | -10.0% |
| ROE | 25.8% | 28.1% | 18.2% | -7.8% | - |
| Shares Outstanding | 4,889M | 4,889M | 4,859M | 4,675M | 4,766M |
| Metric | 2021 | 2022 | TTM | ||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 1.7B | 4.8B | 8.0B | 11.5B | 11.5B |
| Gross Margin | 43.2% | 34.7% | 43.5% | 45.6% | 45.6% |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | -629M | 1.3B | 1.0B | 1.3B | 1.3B |
| EBIT | -170M | -309M | 1.5B | 2.8B | 2.8B |
| Op. Margin | -10.0% | -6.4% | 19.2% | 24.3% | 24.3% |
| Net Income | N/A | -365M | 1.0B | 2.0B | 2.0B |
| Net Margin | N/A | -7.6% | 12.8% | 17.1% | 17.1% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | N/A | -7.8% | 18.2% | 28.1% | N/M |
| ROE | N/A | -7.8% | 18.2% | 28.1% | 25.8% |
| ROA | N/A | -1.5% | 2.8% | 4.2% | 3.9% |
| Cash Flow | |||||
| Op. Cash Flow | -2.9B | 756M | 1.3B | 2.4B | 2.4B |
| Free Cash Flow | -2.9B | 756M | 1.3B | 2.4B | 2.4B |
| Owner Earnings | -2.9B | 720M | 1.2B | 2.3B | 2.3B |
| CapEx | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 17M | 36M | 63M | 77M | 77M |
| Growth CapEx | N/A | N/A | N/A | N/A | 0 |
| D&A | 17M | 36M | 63M | 77M | 77M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 66M | 11M | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | -2.6B | -3.6B | -4.8B | -7.5B | -7.5B |
| Cash & Equiv. | 2.7B | 4.2B | 5.9B | 9.2B | 9.2B |
| Long-Term Debt | N/A | N/A | N/A | N/A | 1.7B |
| Debt/Equity | 0.03 | 0.12 | 0.18 | 0.23 | 0.23 |
| Interest Coverage | -0.5 | -0.2 | 0.8 | 1.0 | 1.0 |
| Equity | 4.4B | 4.9B | 6.4B | 7.6B | 7.6B |
| Total Assets | 19.9B | 29.9B | 43.3B | 49.9B | 49.9B |
| Total Liabilities | 15.4B | 25.0B | 36.9B | 42.3B | 42.3B |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||
| EPS | 1,602,126.00 | -0.08 | 0.21 | 0.40 | 0.40 |
| Owner EPS | -0.62 | 0.15 | 0.25 | 0.47 | 0.47 |
| Book Value | 0.93 | 1.05 | 1.32 | 1.56 | 1.56 |
| Cash Flow/Share | -0.61 | 0.16 | 0.26 | 0.49 | 0.42 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 4.8B | 4.7B | 4.9B | 4.9B | 4.9B |
| Valuation | |||||
| P/E Ratio | N/A | N/A | 39.5 | 25.6 | 37.1 |
| P/FCF | N/A | 24.2 | 32.1 | 21.1 | 30.5 |
| EV/EBIT | N/A | N/A | N/A | N/A | 23.5 |
| Price/Book | N/A | N/A | 6.3 | 6.6 | 9.6 |
| Price/Sales | N/A | 5.4 | 3.9 | 5.2 | 6.3 |
| FCF Yield | N/A | 4.1% | 3.1% | 4.8% | 3.3% |
| Market Cap | 0 | 18.3B | 40.7B | 50.5B | 73.1B |
| Avg. Price | 0.00 | 5.57 | 6.51 | 12.18 | 14.95 |
| Year-End Price | 0.00 | 3.91 | 8.37 | 10.33 | 14.95 |
Nu Holdings Ltd. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Nu Holdings Ltd. trades at 37.1x trailing earnings, compared to its 15-year median P/E of 32.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 30.5x vs a median of 24.2x. The company's 5-year average ROIC is 12.8% with a gross margin of 41.7%. At current prices, the estimated annualized return to fair value is +24.2%.
Nu Holdings Ltd. (NU) has a current P/E ratio of 37.1, compared to its historical median P/E of 32.5. The stock is currently considered Fair based on its historical valuation range.
Nu Holdings Ltd. (NU) has a 5-year average return on invested capital (ROIC) of 12.8%. This indicates solid capital allocation.
Nu Holdings Ltd. (NU) has a market capitalization of $73.1B. It is classified as a large-cap stock.
Nu Holdings Ltd. (NU) does not currently pay a regular dividend.
Based on historical P/E analysis, Nu Holdings Ltd. (NU) appears fair. The current P/E of 37.1 is 14% above its historical median of 32.5. The estimated fair value CAGR (P/E method) is 67.2%.
Nu Holdings Ltd. (NU) operates in the Finance Services industry, within the Financials sector.
Nu Holdings Ltd. (NU) reported annual revenue of $11.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Nu Holdings Ltd. (NU) has a net profit margin of 17.1%. This is a healthy margin.
Nu Holdings Ltd. (NU) generated $2.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Nu Holdings Ltd. (NU) has a debt-to-equity ratio of 0.23. This indicates a conservatively financed balance sheet.
Nu Holdings Ltd. (NU) reported earnings per share (EPS) of $0.40 in its most recent fiscal year.
Nu Holdings Ltd. (NU) has a return on equity (ROE) of 28.1%. This indicates the company generates strong returns for shareholders.
Nu Holdings Ltd. (NU) has a 5-year average gross margin of 41.7%. This indicates decent pricing power.
The Ledger Terminal provides 4 years of financial data for Nu Holdings Ltd. (NU), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Nu Holdings Ltd. (NU) has a book value per share of $1.56, based on its most recent annual SEC filing.