Xp (XP) Operating Margin (2018 - 2026)
Xp's Operating Margin was 113.62% in Q2 2026, down 0.48 percentage points from 114.10% a year earlier but up 3.32 percentage points from the prior quarter.
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Analysis
Xp (XP) Operating Margin (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Xp's Operating Margin was 111.92% through Jun 30, 2026, down 136.05 percentage points year-over-year; for FY2025, it came in at 100.00%, down 126.12 percentage points from FY2024.
- Operating Margin shows a five-year change of +64.90 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 226.12% in FY2024 (+4.15 pp), 221.97% in FY2023 (+121.97 pp), 100.00% in FY2022 (+56.80 pp) and 43.20% in FY2021 (+8.10 pp).
- Quarterly Operating Margin has moved between -368.43% (Q4 2022) and 92694792.88% (Q4 2023) over five years.
- Compared with a year earlier, Operating Margin was higher in three of the last eight quarters, with an average year-over-year change of -11586828.79 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q4 2023 (a gain of 92695161.31 percentage points); the worst was Q4 2024 (a drop of 92694262.00 percentage points).
- Per Business Quant data, XP's Operating Margin in the three quarters before Q2 2026 was 110.30% (Q1 2026), 109.95% (Q4 2025) and 114.07% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 104.90 Bn | 93.23 Bn | - | 65.70% |
| 2 | Bank of New York Mellon | 100.13 Bn | 100.13 Bn | - | - |
| 3 | Intercontinental Exchange | 87.19 Bn | 80.99 Bn | - | 38.52% |
| 4 | Robinhood Markets | 85.01 Bn | 85.09 Bn | - | - |
| 5 | Nasdaq | 58.28 Bn | 55.72 Bn | 1.48 Bn | 30.59% |
| 6 | State Street | 46.95 Bn | 46.95 Bn | - | - |
| 7 | Interactive Brokers | 37.06 Bn | 54.10 Bn | - | - |
| 8 | Cboe Global Markets | 33.98 Bn | 25.63 Bn | 731.60 Mn | 32.99% |
| 9 | Northern Trust | 31.17 Bn | 31.17 Bn | - | - |
| 10 | Xp | 8.30 Bn | -13.53 Bn | 105.39 Mn | -59.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -59.43% |
| Mar 31, 2026 | -59.58% |
| Dec 31, 2025 | -30.84% |
| Sep 30, 2025 | -47.18% |
| Jun 30, 2025 | -61.15% |
| Mar 31, 2025 | -87.79% |
| Dec 31, 2024 | -109.62% |
| Sep 30, 2024 | 151,427.87% |
| Jun 30, 2024 | -38.17% |
| Mar 31, 2024 | 168,460.55% |
| Dec 31, 2023 | 146,037,172,620.95% |
| Sep 30, 2023 | 158,861.47% |
| Jun 30, 2023 | -59.71% |
| Mar 31, 2023 | 71.32% |
| Dec 31, 2022 | 56.61% |
| Sep 30, 2022 | 71.17% |
| Jun 30, 2022 | 64.46% |
| Mar 31, 2022 | 77.47% |
| Dec 31, 2021 | 32.78% |
| Sep 30, 2021 | 59.98% |
API Access
Xp Operating 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=operating-margin&ticker=XP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "XP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=XP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();