XP Inc. XP
NASDAQ XP
$28.17 +6.67 (+31.05%)
As of: Oct 5, 2026 · 3:59 PM EDT

Xp (XP) Net Margin (2018 - 2026)

Updated

Xp's Net Margin was 70.69% in Q2 2026, down 2.81 percentage points from 73.50% a year earlier but up 2.47 percentage points from the prior quarter.

Analysis

Xp (XP) Net Margin (2018 - 2026) Analysis & Trends

On a trailing twelve-month basis, Xp's Net Margin was 63.32% through Jun 30, 2026, down 4.08 percentage points year-over-year; for FY2025, it was 69.21%, up 8.01 percentage points from FY2024.

  • Net Margin shows a five-year change of +60.56 percentage points (FY2020 to FY2025).
  • In earlier years, Net Margin was 61.20% in FY2024 (+1.51 pp), 59.69% in FY2023 (-0.56 pp), 60.25% in FY2022 (+49.97 pp) and 10.28% in FY2021 (+1.63 pp).
  • Quarterly Net Margin has moved between 50.03% (Q4 2022) and 74.88% (Q1 2025) over five years.
  • Compared with a year earlier, Net Margin has declined for three straight quarters, with an average year-over-year change of +2.44 percentage points over the last eight quarters.
  • The best year-over-year quarter for Net Margin over five years was Q4 2021 (a gain of 24.33 percentage points); the worst was Q4 2022 (a drop of 13.82 percentage points).
  • Per Business Quant data, XP's Net Margin in the three quarters before Q2 2026 was 68.22% (Q1 2026), 52.71% (Q4 2025) and 63.64% (Q3 2025).
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Margin (Qtr)
1 Robinhood Markets 101.35 Bn 82.45 Bn - 42.89%
2 Bank of New York Mellon 98.65 Bn 38.02 Bn - 29.93%
3 Cme 94.54 Bn 94.54 Bn - 61.06%
4 Intercontinental Exchange 84.23 Bn 78.04 Bn - 26.53%
5 Nasdaq 50.77 Bn 48.20 Bn 1.50 Bn 20.02%
6 State Street 48.31 Bn 48.31 Bn - 25.35%
7 Interactive Brokers 39.79 Bn 33.24 Bn - 16.46%
8 Northern Trust 31.37 Bn 31.37 Bn - 58.35%
9 Cboe Global Markets 28.34 Bn 20.00 Bn 731.60 Mn 24.38%
10 Xp 11.18 Bn -146.56 Bn 105.39 Mn 70.69%
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 70.69%
Mar 31, 2026 68.22%
Dec 31, 2025 52.71%
Sep 30, 2025 63.64%
Jun 30, 2025 73.50%
Mar 31, 2025 74.88%
Dec 31, 2024 61.77%
Sep 30, 2024 61.17%
Jun 30, 2024 57.34%
Mar 31, 2024 63.43%
Dec 31, 2023 55.29%
Sep 30, 2023 59.66%
Jun 30, 2023 65.78%
Mar 31, 2023 59.14%
Dec 31, 2022 50.03%
Sep 30, 2022 66.15%
Jun 30, 2022 58.79%
Mar 31, 2022 67.52%
Dec 31, 2021 63.85%
Sep 30, 2021 58.89%
API Access

Xp Net Margin API

Pull this series into your own models, spreadsheets and apps with the Business Quant Historical Metrics API. The request below matches the chart above — change the frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.

https://data.businessquant.com/historic?slug=net-margin&ticker=XP&period=max&api_key=YOUR_API_KEY