Nu Holdings (NU) Gross Margin (2021 - 2025)

Nu Holdings' Gross Margin history runs 5 years deep, the most recent figure standing at 41.47% for Q4 2025.

• On a quarterly basis, Gross Margin fell 414.0% year-over-year to 41.47% in Q4 2025; TTM through Dec 2025 was 42.0%, a 361.0% decrease from a year earlier, with the FY2025 full-year figure at 42.0%, down 361.0% from the prior year.
• Gross Margin declined to 41.47% in Q4 2025 per NU's latest filing, from 43.49% in the prior quarter.
• Across five years, Gross Margin topped out at 49.51% in Q2 2021 and bottomed at 31.41% in Q2 2022.
• The 5-year median for Gross Margin is 42.51% (2023), against an average of 41.95%.
• Across the five-year window, Gross Margin sank 1811 bps in 2022 and surged 1044 bps in 2023, its largest moves.
• Year by year, Gross Margin 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.
• Per Business Quant, the three latest NU Gross Margin figures stand at 41.47% (Q4 2025), 43.49% (Q3 2025), and 42.2% (Q2 2025).