XP Inc (XP9) - Net Assets
Based on the latest financial reports, XP Inc (XP9) has net assets worth €23.55 Billion EUR (≈ $27.53 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€396.53 Billion ≈ $463.58 Billion USD) and total liabilities (€372.98 Billion ≈ $436.05 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check XP Inc PP&E and investment ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €23.55 Billion |
| % of Total Assets | 5.94% |
| Annual Growth Rate | 45.82% |
| 5-Year Change | 63.3% |
| 10-Year Change | N/A |
| Growth Volatility | 73.58 |
XP Inc - Net Assets Trend (2017–2025)
This chart illustrates how XP Inc's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of XP Inc.
Annual Net Assets for XP Inc (2017–2025)
The table below shows the annual net assets of XP Inc from 2017 to 2025. Also explore XP Inc equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €23.55 Billion ≈ $27.53 Billion |
+17.46% |
| 2024-12-31 | €20.05 Billion ≈ $23.44 Billion |
+3.07% |
| 2023-12-31 | €19.45 Billion ≈ $22.74 Billion |
+14.13% |
| 2022-12-31 | €17.04 Billion ≈ $19.92 Billion |
+18.19% |
| 2021-12-31 | €14.42 Billion ≈ $16.86 Billion |
+32.32% |
| 2020-12-31 | €10.90 Billion ≈ $12.74 Billion |
+52.29% |
| 2019-12-31 | €7.16 Billion ≈ $8.37 Billion |
+242.11% |
| 2018-12-31 | €2.09 Billion ≈ $2.45 Billion |
+81.62% |
| 2017-12-31 | €1.15 Billion ≈ $1.35 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to XP Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €23.55 Billion | 100.00% |
| Total Equity | €23.55 Billion | 100.00% |
XP Inc Competitors by Market Cap
The table below lists competitors of XP Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Macronix International Co Ltd
TW:2337
|
$7.14 Billion |
|
Ralliant Corporation Common Stock
NYSE:RAL
|
$7.14 Billion |
|
HITACHI CONSTR.MACH.ADR/2
F:HCMA
|
$7.15 Billion |
|
Dosilicon Co Ltd
SHG:688110
|
$7.16 Billion |
|
PSP SWISS ADR 1/5/SF1050
F:P7S0
|
$7.13 Billion |
|
Flughafen Zurich
SW:FHZN
|
$7.13 Billion |
|
SARTORIUS AG UNSP.ADR 1/5
F:SRT4
|
$7.12 Billion |
|
Far East Smarter Energy Co Ltd
SHG:600869
|
$7.12 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in XP Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 20,043,557,000 to 23,546,701,000, a change of 3,503,144,000 (17.5%).
- Net income of 5,169,787,000 contributed positively to equity growth.
- Dividend payments of 494,517,000 reduced retained earnings.
- Share repurchases of 1,900,691,000 reduced equity.
- Other factors increased equity by 728,565,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €5.17 Billion | +21.96% |
| Dividends Paid | €494.52 Million | -2.1% |
| Share Repurchases | €1.90 Billion | -8.07% |
| Other Changes | €728.57 Million | +3.09% |
| Total Change | €- | 17.48% |
Book Value vs Market Value Analysis
This analysis compares XP Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.37x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 8.05x to 0.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €2.07 | €16.69 | x |
| 2018-12-31 | €3.78 | €16.69 | x |
| 2019-12-31 | €12.96 | €16.69 | x |
| 2020-12-31 | €19.49 | €16.69 | x |
| 2021-12-31 | €25.77 | €16.69 | x |
| 2022-12-31 | €31.45 | €16.69 | x |
| 2023-12-31 | €36.33 | €16.69 | x |
| 2024-12-31 | €37.30 | €16.69 | x |
| 2025-12-31 | €45.39 | €16.69 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently XP Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 21.96%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 64.89%
- • Asset Turnover: 0.02x
- • Equity Multiplier: 16.84x
- Recent ROE (21.96%) is below the historical average (22.57%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 36.18% | 29.10% | 0.20x | 6.24x | €299.49 Million |
| 2018 | 22.32% | 20.41% | 0.13x | 8.50x | €256.85 Million |
| 2019 | 15.10% | 27.30% | 0.09x | 6.10x | €365.14 Million |
| 2020 | 19.06% | 37.74% | 0.06x | 8.81x | €986.97 Million |
| 2021 | 24.90% | 52.77% | 0.05x | 9.67x | €2.15 Billion |
| 2022 | 21.01% | 60.25% | 0.03x | 11.27x | €1.88 Billion |
| 2023 | 20.05% | 59.69% | 0.03x | 12.80x | €1.95 Billion |
| 2024 | 22.52% | 60.79% | 0.02x | 17.34x | €2.51 Billion |
| 2025 | 21.96% | 64.89% | 0.02x | 16.84x | €2.82 Billion |
Industry Comparison
This section compares XP Inc's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $40,149,960,159
- Average return on equity (ROE) among peers: -71.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| XP Inc (XP9) | €23.55 Billion | 36.18% | 15.84x | $7.13 Billion |
| GUOTAI JUNAN SEC. H YC1 (153A) | $163.85 Billion | 7.02% | 4.25x | $6.56 Billion |
| China Merchants Securities Co. Ltd (195H) | $85.13 Billion | 8.55% | 3.48x | $2.31 Billion |
| FATFISH GROUP LTD. (1JU) | $1.90 Million | -786.35% | 9.50x | $8.54 Million |
| UP FINT. HLDG (SP.ADR) A (1M5) | $446.63 Million | 3.29% | 6.44x | $1.01 Billion |
| GREENBANK CAPITAL (2TL) | $3.01 Million | 33.26% | 1.67x | $70.90K |
| SHENWAN HONGYUAN GR.H YC1 (2X2A) | $107.05 Billion | 8.78% | 4.61x | $661.60 Million |
| Guolian Securities Co. Ltd (34V) | $16.76 Billion | 4.58% | 3.44x | $200.79 Million |
| SIXTY SIX CAPITAL INC. (5CR0) | $14.95 Million | -41.47% | 0.20x | $4.02 Million |
| Futu Holdings Limited (6FHA) | $28.00 Billion | 19.44% | 4.67x | $10.64 Billion |
| CAIRO MEZZ PLC EO-10 (6H3) | $240.20 Million | 25.36% | 0.00x | $81.49 Million |
About XP Inc
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; pens… Read more