Gross margin
45.6% Fiscal year 2024
No rank: too few peers or not computed yet.
Share of revenue left after the direct cost of the products sold.
About the company
Nu Holdings runs the digital bank Nubank. Customers in Brazil, Mexico and Colombia open accounts via app and use credit cards, loans, insurance and investment products. As of Oct 13, 2026
Fact sheet (from the annual report) Other financial services · Sao Paulo, Sp, Brazil
Nu is a digital financial services company with operations in Brazil, Mexico and Colombia. At the end of 2025 most customers were in Brazil. The offering includes credit and prepaid cards, instant payments via Pix and personal and business accounts. In addition, there is a digital investment platform, loans and the distribution of insurance for mobile devices, life and home. Revenue comes, for example, from interest on loans, from card payment fees and from insurance commissions. Many customers came to the company through referrals from existing users.
Automatically summarized from SEC annual report (20-F, filed Apr 8, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026
Price performance at a glance
Last 30 trading days
- Today −1.5%
- 7 days −17.8%
- 30 days −8.8%
- 1 year −22.5%
Day range (last trading day)
−0.2%Price at 5% of the range+4.8%
52-week range
−9.7%Price at 15% of the range+53.1%
- Distance from the all-time high
- −34.7%
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Gap with volume · Analysis method
This method currently detects no pattern for NU. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Fundamental analysis
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and marginNu Holdings (Class A) · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Apr 16, 2025.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2024 · latest available annual figures: fiscal year 2024
Quality
Profitability, consistency, balance sheet · 3 without data
3 of 5 criteria met
Growth
Revenue and earnings per share · 1 without data
4 of 6 criteria met
Dividend
Level, consistency, coverage · 7 without data
no criteria with data
Financial strength
Piotroski, debt, liquidity · 3 without data
2 of 3 criteria met
Quality 3 of 5 met · 3 without data
- met: Gross margin above 40% 45.6%
- no data: Operating margin above 15% not stated in the SEC filings
- met: Net margin above 10% 17.1%
- met: Return on equity above 15% 25.8%
- no data: Free cash flow margin above 10% not stated in the SEC filings
- not met: Profit in each of the last 5 fiscal years 2 of 5
- no data: Free cash flow positive in each of the last 3 fiscal years not stated in the SEC filings
- not met: Equity ratio above 30% 15.3%
Net margin
17.1% Fiscal year 2024
No rank: too few peers or not computed yet.
Profit after all costs, interest and taxes divided by revenue.
Return on equity
25.8% Fiscal year 2024
No rank: too few peers or not computed yet.
Net income divided by equity at fiscal year end.
Return on assets
3.9% Fiscal year 2024 (total assets at year end)
No rank: too few peers or not computed yet.
Net income divided by total assets at fiscal year end.
Equity ratio
15.3% Fiscal year 2024
No rank: too few peers or not computed yet.
Equity as a share of total assets. Usually low for banks.
Growth 4 of 6 met · 1 without data
- met: Over 3 years, revenue grew by more than 5% per year +89.3%
- met: Over 5 years, revenue grew by more than 5% per year +79.8%
- no data: Over 10 years, revenue grew by more than 5% per year no comparable figures over 10 years
- not met: Over 3 years, EPS grew by more than 5% per year −99.4%
- not met: Over 5 years, EPS grew by more than 5% per year −94.9%
- met: Revenue rose in at least 4 of the last 5 fiscal years 5 of 5
- met: Revenue rose in the last fiscal year +43.4%
Revenue growth 3 years
+89.3% per year
No rank: too few peers or not computed yet.
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+79.8% per year
No rank: too few peers or not computed yet.
Average growth per year over 5 fiscal years.
EPS growth 3 years
−99.4% per year
No rank: too few peers or not computed yet.
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
−94.9% per year
No rank: too few peers or not computed yet.
Growth of earnings per share per year, adjusted for stock splits.
Dividend no criteria with data · 7 without data
- no data: Pays a dividend 20-F filer without dividend per share
- no data: Payout ratio at most 60% of earnings 20-F filer without dividend per share
- no data: Dividend paid in each of the last 5 fiscal years 20-F filer without dividend per share
- no data: Dividend per share never lowered in the last 5 fiscal years 20-F filer without dividend per share
- no data: Dividend per share higher than 5 years ago 20-F filer without dividend per share
- no data: Free cash flow per share covers the dividend 20-F filer without dividend per share
- no data: Dividends paid over the last 5 years covered by free cash flow 20-F filer without dividend per share
Financial strength 2 of 3 met · 3 without data
- not met: Piotroski F-Score at least 7 of 9 5 of 8 · 1 without data
- met: Long-term debt no higher than equity 0.23
- no data: Current assets cover current liabilities not reported (usual for banks and insurers)
- met: Positive equity 7.6B USD
- no data: In 5 years, share count up by at most 5% no comparable share count 5 years ago
- no data: Free cash flow positive in the last fiscal year capital expenditure or operating cash flow not reported
Piotroski F-Score
5 of 8 Fiscal year 2024
No rank: not all 9 criteria have data.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
0.23 at fiscal year end
No rank: too few peers or not computed yet.
Long-term financial debt divided by equity.
Change in share count
+199.1% in 3 years
No rank: too few peers or not computed yet.
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
- met: Profit in the last fiscal year (positive return on assets)
- met: Positive operating cash flow
- met: Return on assets higher than the prior year
- met: Operating cash flow higher than net income
- not met: Long-term debt relative to total assets fell
- no data: Liquidity (current assets / current liabilities) rose
- not met: No additional shares (diluted share count did not rise)
- met: Gross margin higher than the prior year
- not met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
20-F filer (foreign company): amounts in the reporting currency, no price-based criteria.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock.
In short
- Light green: Revenue grew over 5 years (+79.8% per year).
- Light green: Net margin 17.1%.
- Light red: Profit in 2 of 6 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 612.1M USD · Net income −92.5M USD · Net margin −15.1%
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 737.1M USD · Net income −171.5M USD · Net margin −23.3%
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 1.7B USD · Net income −165.0M USD · Net margin −9.7%
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 4.8B USD · Net income −364.6M USD · Net margin −7.6%
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 8.0B USD · Net income 1.0B USD · Net margin 12.8%
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 11.5B USD · Net income 2.0B USD · Net margin 17.1%
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 1,137,931.00 USD
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 1,315,578.00 USD
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 1,602,126.00 USD
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share −0.08 USD
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 0.21 USD
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 0.40 USD
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
No reported values for “Dividend per share” in this interval.
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 11.5B USD · Net income 2.0B USD · Net margin 17.1%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2024
Of 100 USD of revenue, 45.6 USD gross profit and 17.1 USD net income remained.
Money flow as a table
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 11.5B USD | 100.0% |
| Gross profit | 5.3B USD | 45.6% |
| Cost of revenue | 6.3B USD | 54.4% |
| Net income | 2.0B USD | 17.1% |
| Operating expenses, taxes & other | 3.3B USD | 28.5% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
The net margin rose in 5 years from −15.1% to 17.1%.
Gross marginNet margin- Fiscal year 2019: Gross margin 40.5% · Net margin −15.1%
- Fiscal year 2020: Gross margin 44.3% · Net margin −23.3%
- Fiscal year 2021: Gross margin 43.2% · Net margin −9.7%
- Fiscal year 2022: Gross margin 34.7% · Net margin −7.6%
- Fiscal year 2023: Gross margin 43.5% · Net margin 12.8%
- Fiscal year 2024: Gross margin 45.6% · Net margin 17.1%
Returns
Return on equity rose in 5 years from −15.1% to 25.8%.
Return on equityReturn on assets Return on equity hidden where equity is below 5% of total assets.- Fiscal year 2019: Return on equity −15.1% · Return on assets not available
- Fiscal year 2020: Return on equity not available · Return on assets −1.7%
- Fiscal year 2021: Return on equity −3.7% · Return on assets −0.8%
- Fiscal year 2022: Return on equity −7.5% · Return on assets −1.2%
- Fiscal year 2023: Return on equity 16.1% · Return on assets 2.4%
- Fiscal year 2024: Return on equity 25.8% · Return on assets 3.9%
Equity and long-term debt
The equity ratio rose in 4 years from 4.3% to 15.3%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.- Fiscal year 2019: Equity 612.3M USD · Long-term debt not available
- Fiscal year 2020: Equity 438.1M USD · Long-term debt 97.5M USD
- Fiscal year 2021: Equity 4.4B USD · Long-term debt 147.2M USD
- Fiscal year 2022: Equity 4.9B USD · Long-term debt 585.6M USD
- Fiscal year 2023: Equity 6.4B USD · Long-term debt 1.1B USD
- Fiscal year 2024: Equity 7.6B USD · Long-term debt 1.7B USD
Cash flow
Operating cash flow rose in 5 years from 276.1M USD to 2.4B USD.
Operating cash flow in USD- Fiscal year 2019: Operating cash flow 276.1M USD
- Fiscal year 2020: Operating cash flow 974.5M USD
- Fiscal year 2021: Operating cash flow −2.9B USD
- Fiscal year 2022: Operating cash flow 755.6M USD
- Fiscal year 2023: Operating cash flow 1.3B USD
- Fiscal year 2024: Operating cash flow 2.4B USD
Share count
The share count rose in 3 years by 199.1% – more new shares were issued than repurchased (dilution).
Average share count- Fiscal year 2019: Average share count not available
- Fiscal year 2020: Average share count not available
- Fiscal year 2021: Average share count 1.6B
- Fiscal year 2022: Average share count 4.7B
- Fiscal year 2023: Average share count 4.7B
- Fiscal year 2024: Average share count 4.8B
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
- Dividend per share
- none pays no dividend
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
20-F filer or other currency: earnings per share and share count do not reliably match the price of the US listing (ADR) – so there is no price-based valuation here.
Key figures with traffic lights
Each light follows a simple, disclosed rule. This symbol has no sector assignment – lights with a sector comparison stay gray or use only the basic rule.
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth+79.8% per year, last 5 years
What does this mean? Revenue: over 5 years it grew by 79.8% per year on average. Comparable values for a sector comparison are missing.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth– per year, last 5 years
per share: −94.9% per year (5 years, split-adjusted)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net margin
Profit marginThe share of revenue that is left as profit after all costs.Example: Profit €60m on €500m revenue → margin 12%.More in the Academy: Lesson revenue, profit and margin17.1% last fiscal year
What does this mean? Of every 100 USD in revenue, 17.12 USD remained as profit. Comparable values for a sector comparison are missing.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth0.23 latest balance sheet
What does this mean? For every 1 USD of equity there is 0.23 USD of financial debt. Without a sector comparison this is hard to put into context.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth– Dividend / earnings per share
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin2 of 6 fiscal years with a profit
What does this mean? In 2 of the last 6 fiscal years the bottom line showed a profit. 4 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
All figures as a table
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2024 | Dec 31, 2024 | 11.5B | 2.0B | 17.1% | 0.40 | – | – |
| 2023 | Dec 31, 2023 | 8.0B | 1.0B | 12.8% | 0.21 | – | – |
| 2022 | Dec 31, 2022 | 4.8B | −364.6M | −7.6% | −0.08 | – | – |
| 2021 | Dec 31, 2021 | 1.7B | −165.0M | −9.7% | 1,602,126.00 | – | – |
| 2020 | Dec 31, 2020 | 737.1M | −171.5M | −23.3% | 1,315,578.00 | – | – |
| 2019 | Dec 31, 2019 | 612.1M | −92.5M | −15.1% | 1,137,931.00 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $6.0M2 people | −$6.0M |
| 6 months | $00 people | $6.3M3 people | −$6.3M |
| 12 months | $00 people | $10.7M3 people | −$10.7M |
Latest transactions
- Oct 5, 2026 Junqueira Cristina Helena Zingaretti Chief executive (CEO) Open-market sale · 10b5-1 plan 25,000 shares · $375.4K · SEC
- Aug 25, 2026 Junqueira Cristina Helena Zingaretti Chief executive (CEO) Open-market sale · 10b5-1 plan 65,000 shares · $956.5K · SEC
- Aug 24, 2026 Junqueira Cristina Helena Zingaretti Chief executive (CEO) Open-market sale · 10b5-1 plan 25,000 shares · $375.0K · SEC
- Aug 14, 2026 Fragelli Henrique Camossa Saldanha Officer Open-market sale 221,707 shares · $3.5M · SEC
- Aug 14, 2026 Junqueira Cristina Helena Zingaretti Chief executive (CEO) Open-market sale 50,000 shares · $790.0K · SEC
- May 15, 2026 Sands Anita M Director Open-market sale 21,000 shares · $257.0K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score -25
Price vs. EMA 50-15
Price vs. EMA 200-15
EMA 50 vs. EMA 200+20
ADX (trend strength)+0
Highs and lows+0
Relative strength-15
Volatility and trend strength
ADX 14 (trend strength)18.4
Rel. strength 60 d−15.0%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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