Nu Holdings (NU) Gross Margin (2021 - 2025)
Nu Holdings (NU) posted quarterly Gross Margin of 41.47% for Q4 2025, down 414.0% year-over-year from 13.21% in Q4 2024, and down 4.64% quarter-over-quarter from 43.49% in Q3 2025.
Nu Holdings (NU) Gross Margin (2021 - 2025) Analysis & Trends
Nu Holdings' Gross Margin history runs 5 years deep, the most recent figure standing at 41.47% for Q4 2025.
- In Q4 2025, Gross Margin fell 414.0% year-over-year to 41.47%; the TTM figure through Dec 2025 stood at 42.0% (down 361.0% YoY), while the FY2025 annual figure was 42.0%, down 361.0% from the prior year.
- Gross Margin for Q4 2025 stood at 41.47%, down from 43.49% in the prior quarter.
- The five-year high for Gross Margin was 49.51% in Q2 2021, with the low at 31.41% in Q2 2022.
- The 5-year median for Gross Margin is 42.51% (2023), against an average of 41.95%.
- The sharpest annual moves came in 2022 and 2023: Gross Margin plunged 1811 bps in 2022, then surged 1044 bps in 2023.
- Nu Holdings' Gross Margin stood at 35.68% in 2021, then climbed by 12 bps to 39.87% in 2022, then climbed by 19 bps to 47.54% in 2023, then retreated by 4 bps to 45.61% in 2024, then dropped by 9 bps to 41.47% in 2025.
- Business Quant data shows NU's Gross Margin at 41.47% in Q4 2025, 43.49% in Q3 2025, and 42.2% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Hdfc Bank | 119.58 Bn | 83.39 Bn | - | - |
| 2 | Pnc Financial Services | 97.75 Bn | 97.75 Bn | - | - |
| 3 | Us Bancorp | 96.33 Bn | 96.33 Bn | - | - |
| 4 | Lloyds Banking | 93.61 Bn | 93.91 Bn | - | - |
| 5 | NatWest | 73.86 Bn | -145.23 Bn | - | - |
| 6 | Deutsche Bank Aktiengesellschaft | 71.72 Bn | -81.60 Bn | - | - |
| 7 | Nu Holdings | 68.51 Bn | 54.82 Bn | 2.35 Bn | 42.56% |
| 8 | Truist Financial | 61.69 Bn | 61.69 Bn | - | - |
| 9 | Fifth Third Bancorp | 49.73 Bn | 26.00 Bn | - | - |
| 10 | Itau Unibanco Holding | 40.31 Bn | 42.00 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 41.47% |
| Sep 30, 2025 | 43.49% |
| Jun 30, 2025 | 42.20% |
| Mar 31, 2025 | 40.63% |
| Dec 31, 2024 | 45.61% |
| Sep 30, 2024 | 45.82% |
| Jun 30, 2024 | 47.72% |
| Mar 31, 2024 | 43.19% |
| Dec 31, 2023 | 47.54% |
| Sep 30, 2023 | 42.81% |
| Jun 30, 2023 | 41.85% |
| Mar 31, 2023 | 40.21% |
| Dec 31, 2022 | 39.87% |
| Sep 30, 2022 | 32.68% |
| Jun 30, 2022 | 31.41% |
| Mar 31, 2022 | 33.52% |
| Dec 31, 2021 | 35.68% |
| Sep 30, 2021 | 46.57% |
| Jun 30, 2021 | 49.51% |
| Mar 31, 2021 | 47.20% |