SÃO PAULO, September 1, 2026, 20:50 BRT
- Nu Holdings Ltd. NYSE:NU ended trading at $14.46, falling 0.62%, with 67.50 million shares changing hands.
- The stock was trading at $14.40 at 19:50 EDT, down approximately 1.0% from its Monday close.
- Revenue for the second quarter increased 39% to almost $5.9 billion, while net income totaled $1.1 billion.
- The estimated forward P/E stood at 12.6, compared with 7.7 for Itaú and 5.9 for Bradesco.
Nu Holdings Ltd. NYSE:NU slipped 0.62% on Tuesday, a comparatively slight decline against the broader downturn in growth stocks. The stock ended the session at $14.46 with volume at 67.50 million shares. The latest trade was $14.40 as of 19:50 EDT Yahoo Finance.
Nu’s valuation is strongly influenced by a single figure: its 33% return on equity. The company’s profitability is commanding a premium from investors, even as they contend with increasing late-stage delinquency rates.
U.S. stocks closed down as rising oil prices and higher bond yields weighed on sentiment. The S&P 500 declined 0.71% and the Nasdaq Composite dropped 1.03%. Brent crude increased 4.6%, with the 10-year Treasury yield hitting 4.79% Associated Press.
Nu shares: regular session through aftermarket
U.S. dollars; five-minute observations sampled at key times
As of . Source: Yahoo Finance. Aftermarket prices can be thin.
Nu stock hit $14.935 in the regular session, before ending the day 3.2% off that intraday high. The price slipped an additional 0.4% in after-hours trade.
The operating performance continues to be robust. Revenue for the second quarter was close to $5.9 billion, representing a 39% increase from the same period last year. Net income climbed 49% to $1.1 billion Nu’s results.
Nu founder and CEO David Vélez stated the company is “now generating more than a billion dollars in quarterly net income.” This marked the firm’s first quarter surpassing that level.
The Q2 profit engine
Quarter ended June 30, 2026. Growth is FX-neutral where reported. Source: Nu Holdings.
Nu gained approximately four million new customers in the quarter, bringing its total to 139 million. Average monthly revenue per active user increased to about $17. Activity climbed to 83.5%.
Credit contributed most to the gains. Net interest margin increased by 180 basis points to reach 22.9%. Risk-adjusted margin climbed 290 points, standing at 12.4%.
The credit portfolio increased by 37% to $39.4 billion. Deposits climbed 18%, reaching $45.3 billion. Deposits remain higher than loans, and funding costs stayed at 88% of interbank rates.
Risks: The share of loans overdue by over 90 days climbed by 35 basis points to 6.9%. Early delinquency rates showed improvement, though management pointed to seasonal migration and growth among higher-risk borrowers. The efficiency ratio increased as well, reaching 19.5% compared to 17.6% previously.
At the close on Tuesday, Nu traded at a projected forward earnings multiple of 12.6. By comparison, Itaú Unibanco Holding S.A. NYSE:ITUB was at 7.7, and Banco Bradesco S.A. NYSE:BBD was at 5.9. SoFi Technologies, Inc. NASDAQ:SOFI, the U.S. digital lender, had a multiple of 20.7, according to Yahoo Finance estimates.
Estimated forward price-to-earnings
Consensus-based multiples at the September 1 U.S. close
As of . Source: Yahoo Finance. Forward multiples use analyst estimates and can change.
The premium attached to Brazilian banks is evident, as is the earnings growth that supports it. The upcoming challenge for Nu is to sustain margin improvements while managing delinquent loans.
Trading volume hit 87% of Nu’s average daily level over the past three months, indicating ongoing price discovery rather than a sell-off. Upcoming data on credit and deposits will determine if the $70 billion market value remains justified.
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