Nu Holdings (NU) Gross Margin (2021 - 2025)
Nu Holdings (NU) recorded quarterly Gross Margin of 41.47% in Q4 2025, down 4.64% quarter-over-quarter from 43.49% in Q3 2025, and down 414.0% on a YoY basis from 13.21% in Q4 2024.
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 was 41.47% for Q4 2025 at Nu Holdings, down from 43.49% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 49.51% in Q2 2021 to a low of 31.41% in Q2 2022.
- Historically, Gross Margin has averaged 41.95% across 5 years, with a median of 42.51% in 2023.
- The sharpest annual moves came in 2022 and 2023: Gross Margin sank 1811 bps in 2022, then soared 1044 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 35.68% in 2021, then grew by 12 bps to 39.87% in 2022, then grew by 19 bps to 47.54% in 2023, then decreased by 4 bps to 45.61% in 2024, then declined by 9 bps to 41.47% in 2025.
- The last three Gross Margin figures came in at 41.47% (Q4 2025), 43.49% (Q3 2025), and 42.2% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank Of Chile | 97,765.53 Bn | 97,765.53 Bn | - | - |
| 2 | Bank Bradesco | 6,846.93 Bn | 6,830.99 Bn | - | - |
| 3 | Lloyds Banking | 384.13 Bn | 384.40 Bn | - | - |
| 4 | First Capital | 215.78 Bn | 215.63 Bn | - | - |
| 5 | Itau Unibanco Holding | 202.78 Bn | 202.78 Bn | - | - |
| 6 | Landmark Bancorp | 180.37 Bn | 180.34 Bn | - | - |
| 7 | NatWest | 168.65 Bn | -51.67 Bn | - | - |
| 8 | Shinhan Financial | 136.54 Bn | 104.11 Bn | - | - |
| 9 | Mizuho Financial | 112.02 Bn | 112.56 Bn | - | - |
| 10 | Nu Holdings | 58.79 Mn | -14.98 Bn | 1.94 Bn | 41.47% |
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% |