Company Valuation: XP Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 89,601 45,438 69,332 39,358 47,627 42,808 - -
Change - -49.29% 52.59% -43.23% 21.01% -10.12% - -
Enterprise Value (EV) 1 117,991 50,579 74,964 42,913 47,627 20,923 18,525 12,659
Change - -57.13% 48.21% -42.76% 10.99% -56.07% -11.46% -31.66%
P/E 25.6x 13x 17.7x 8.9x 9.28x 7.81x 6.79x 6.19x
PBR 6.22x 2.64x 3.57x 1.97x 2.06x 1.65x 1.45x 1.29x
PEG - -92.46x 1.2x 0.6x 0.5x 0.79x 0.5x 0.63x
Capitalization / Revenue 7.42x 3.4x 4.67x 2.3x 2.59x 2.1x 1.85x 1.64x
EV / Revenue 9.77x 3.79x 5.04x 2.51x 2.59x 1.02x 0.8x 0.49x
EV / EBITDA 28.2x 12.4x 15.8x 7.19x 7.59x 3.03x 2.32x 1.39x
EV / EBIT 29.8x 13.1x 16.7x 7.52x 7.98x 3.25x 2.46x 1.49x
EV / FCF -27x 30.2x 9.45x 3.96x 4.02x 1.62x 1.79x 1.29x
FCF Yield -3.71% 3.32% 10.6% 25.3% 24.9% 61.8% 55.9% 77.3%
Dividend per Share 2 - - 6.459 3.774 - 6.249 7.545 8.509
Rate of return - - 5.11% 5.15% - 7.5% 9.06% 10.2%
EPS 2 6.259 6.25 7.16 8.231 9.719 10.67 12.27 13.46
Distribution rate - - 90.2% 45.8% - 58.5% 61.5% 63.2%
Net sales 1 12,077 13,348 14,860 17,078 18,412 20,433 23,172 26,027
EBITDA 1 4,190 4,065 4,732 5,971 6,272 6,895 7,971 9,091
EBIT 1 3,958 3,859 4,480 5,706 5,968 6,434 7,524 8,512
Net income 1 3,589 3,580 3,899 4,515 5,169 5,667 6,443 6,989
Net Debt 1 28,390 5,141 5,632 3,555 - -21,886 -24,283 -30,149
Reference price 2 160.13 81.10 126.50 73.29 90.17 83.32 83.32 83.32
Nbr of stocks (in thousands) 559,549 560,294 548,083 537,004 528,220 513,804 - -
Announcement Date 08/02/22 16/02/23 27/02/24 18/02/25 12/02/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.38x15x16.18x0.61% 46.68B
11.29x3.97x - 2.82% 42.28B
35.88x4.66x5.91x0.39% 40.01B
4.83x6.67x - 6.38% 16.67B
12.59x - - 3.49% 10.94B
14.81x - - 3.21% 7.93B
13.99x - - 2.18% 6.34B
Average 16.40x 7.58x 11.04x 2.73% 24.41B
Weighted average by Cap. 19.52x 8.01x 11.44x 2.03%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield