Nu Holdings (NU) Operating Expenses (2021 - 2025)
Nu Holdings (NU) posted quarterly Operating Expenses of $4.6 billion for Q4 2025, up 7.44% year-over-year from $4.3 billion in Q4 2024, and up 765.76% quarter-over-quarter from -$697.1 million in Q3 2025.
Nu Holdings (NU) Operating Expenses (2021 - 2025) Analysis & Trends
Nu Holdings' Operating Expenses history runs 5 years deep, the most recent figure standing at $4.6 billion for Q4 2025.
- In Q4 2025, Operating Expenses rose 7.44% year-over-year to $4.6 billion; the TTM figure through Dec 2025 stood at $2.8 billion (up 12.01% YoY), while the FY2025 annual figure was $2.8 billion, up 12.01% from the prior year.
- Operating Expenses for Q4 2025 stood at $4.6 billion, up from -$697.1 million in the prior quarter.
- The five-year high for Operating Expenses was $4.6 billion in Q4 2025, with the low at -$697.1 million in Q3 2025.
- The 5-year median for Operating Expenses is -$397.7 million (2022), against an average of $501.9 million.
- Peak annual rise in Operating Expenses reached 110.88% in 2022, while the deepest fall reached 124.44% in 2022.
- Nu Holdings' Operating Expenses stood at $1.5 billion in 2021, then surged by 110.88% to $3.1 billion in 2022, then grew by 5.62% to $3.3 billion in 2023, then jumped by 30.09% to $4.3 billion in 2024, then advanced by 7.44% to $4.6 billion in 2025.
- Business Quant data shows NU's Operating Expenses at $4.6 billion in Q4 2025, -$697.1 million in Q3 2025, and -$667.6 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Hdfc Bank | 120.99 Bn | 84.80 Bn | - | - |
| 2 | Pnc Financial Services | 97.68 Bn | 97.68 Bn | - | 4.10 Bn |
| 3 | Us Bancorp | 95.94 Bn | 95.94 Bn | - | 4.43 Bn |
| 4 | Lloyds Banking | 93.61 Bn | 93.91 Bn | - | -3.83 Bn |
| 5 | NatWest | 74.78 Bn | -144.31 Bn | - | -2.79 Bn |
| 6 | Deutsche Bank Aktiengesellschaft | 72.01 Bn | -81.30 Bn | - | 2.60 Bn |
| 7 | Nu Holdings | 71.17 Bn | 57.48 Bn | 2.35 Bn | -599.79 Mn |
| 8 | Truist Financial | 61.53 Bn | 61.53 Bn | - | 3.06 Bn |
| 9 | Fifth Third Bancorp | 49.59 Bn | 25.87 Bn | - | 2.11 Bn |
| 10 | Itau Unibanco Holding | 41.85 Bn | 43.54 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 4.64 Bn |
| Sep 30, 2025 | -697.07 Mn |
| Jun 30, 2025 | -667.59 Mn |
| Mar 31, 2025 | -523.25 Mn |
| Dec 31, 2024 | 4.32 Bn |
| Sep 30, 2024 | -624.84 Mn |
| Jun 30, 2024 | -634.00 Mn |
| Mar 31, 2024 | -602.98 Mn |
| Dec 31, 2023 | 3.32 Bn |
| Sep 30, 2023 | -503.28 Mn |
| Jun 30, 2023 | -458.01 Mn |
| Mar 31, 2023 | -407.25 Mn |
| Dec 31, 2022 | 3.14 Bn |
| Sep 30, 2022 | -421.92 Mn |
| Jun 30, 2022 | -388.15 Mn |
| Mar 31, 2022 | -361.75 Mn |
| Dec 31, 2021 | 1.49 Bn |
| Sep 30, 2021 | -245.71 Mn |
| Jun 30, 2021 | -172.94 Mn |
| Mar 31, 2021 | -169.04 Mn |