Investors with an interest in Financial - Miscellaneous Services stocks have likely encountered both XP Inc.A (XP) and Moody's (MCO) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate re ...

XP Inc. Hosts Inaugural XP Asset Management Global Conference in Miami Accessibility StatementSkip Navigation MIAMI, March 16, 2026 /PRNewswire/ -- XP Inc. (NASDAQ: XP), a technology-driven financial services platform and provider of financial products and services in Brazil, announced that it hosted the first XP Asset Management Global Conference in Miami today, bringing together global asset managers, market strategists and institutional investors to discuss the outlook for international markets and inves ...

Core Viewpoint - Investors are evaluating XP Inc.A (XP) and Blackstone Inc. (BX) to determine which stock offers better value opportunities at present [1] Group 1: Zacks Rank and Value Assessment - XP Inc.A has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision trend compared to Blackstone Inc., which has a Zacks Rank of 3 (Hold) [3] - The Zacks Rank strategy focuses on companies with positive earnings estimate revisions, while the Style Scores system grades companies based on specific traits [2] Group 2: Valuation Metrics - XP has a forward P/E ratio of 11.18, significantly lower than BX's forward P/E of 18.51, suggesting XP may be undervalued [5] - XP's PEG ratio is 0.79, indicating a favorable valuation when considering expected earnings growth, while BX's PEG ratio stands at 1.01 [5] - XP's P/B ratio is 2.78, compared to BX's P/B of 4.25, further supporting the notion that XP is a more attractive value option [6] Group 3: Overall Value Grade - XP has a Value grade of A, while BX has a Value grade of D, highlighting XP's superior valuation metrics and solid earnings outlook [6]

Core Viewpoint - XP Inc. is identified as a promising investment opportunity, with a notable stock price increase of approximately 10% following the release of its fiscal Q4 2025 earnings, and a majority of analysts maintaining a Buy rating on the stock [1][6]. Financial Performance - The company reported a year-over-year revenue growth of 20.35%, reaching $949.81 million, which exceeded estimates by $37.46 million [2]. - Earnings per share (EPS) for the quarter was $0.49, surpassing expectations by $0.01 [2]. - For the full year, gross revenues increased by 8% year-over-year to BRL 19.5 billion, with management indicating that the second half of 2025 would see double-digit growth [2][3]. Strategic Focus - Despite the revenue growth, management described 2025 as a challenging year due to a conservative mix characterized by shorter investment durations and lower market activity [3]. - The company plans to continue its three-pillar strategy, which includes leadership in investment, a complementary retail offering, and wholesale banking [3]. Business Model - XP Inc. operates as a technology-enabled platform that provides a variety of investment, credit, and pension products at low fees, covering diverse asset classes such as equities, fixed income, and alternatives across both public and private markets [4].

Core Viewpoint - The Brazilian investment management company XP presents a potentially attractive investment opportunity, despite facing challenges in the market [1]. Group 1: Company Overview - XP is a Brazil-based financial services company that offers a comprehensive range of solutions, including brokerage accounts, advisory services, offshore investments, asset management, and banking services, with nearly 5 million clients and 50,000 fixed-income transactions daily [2]. Group 2: Financial Performance - In Q4 2025, XP reported total assets exceeding 2 trillion reals ($400 billion), reflecting a 22% year-over-year increase. Assets under management and administration grew by 35% and 44% year-over-year, respectively [4]. - The company's net income rose by 10% in Q4 to 1.3 billion reals ($247 million), while full-year net income increased by 15% to 5.2 billion reals ($990 million) [7]. Group 3: Growth Strategies - XP is leveraging artificial intelligence to enhance advisor efficiency, allowing them to focus more on client engagement rather than operational tasks, which is expected to drive higher recurring revenue without increasing costs [8]. - The company is positioned to benefit from cross-selling opportunities across various financial products, which supports its asset growth strategy [5]. Group 4: Market Positioning - XP's forward price-to-earnings ratio (P/E) is approximately 10, which is considered attractive compared to U.S. peer Charles Schwab, which trades at a forward P/E just above 16 [9]. - Despite a 41% decline in share price since its IPO in 2019, attributed to overvaluation and Brazil's high interest rates, XP may still appeal to long-term investors with a higher risk tolerance [10].

Core Insights - XP Inc. reported 4Q25 results indicating a continuation of trends observed in previous analyses, characterized by stagnation in new clients and net new money, while asset growth has been strong due to long-only investment strategies [1] Group 1: Company Performance - The company has shown good performance in asset growth, attributed to a long-term investment approach that evaluates companies from an operational and buy-and-hold perspective [1] - There is a noted relative stagnation in acquiring new clients and net new money, suggesting challenges in expanding the client base [1] Group 2: Investment Philosophy - The investment philosophy of Quipus Capital emphasizes operational aspects and long-term earnings potential rather than market-driven dynamics [1] - The focus is on identifying companies that are worth holding regardless of future price movements, with most recommendations being holds rather than buys [1]

分组1 - XP Inc.A reported quarterly earnings of $0.46 per share, exceeding the Zacks Consensus Estimate of $0.45 per share, and showing an increase from $0.38 per share a year ago, representing an earnings surprise of +2.98% [1] - The company posted revenues of $916.73 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.22%, compared to year-ago revenues of $767.81 million [2] - XP Inc.A shares have increased approximately 24% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.4% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.46 on revenues of $905.43 million, and for the current fiscal year, it is $1.93 on revenues of $3.81 billion [7] - The Zacks Industry Rank indicates that the Financial - Miscellaneous Services sector is currently in the top 30% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8]

Financial Data and Key Metrics Changes - The company reported gross revenues of $19.5 billion in 2025, an 8% increase year-over-year [9][33] - Adjusted net income for Q4 2025 was BRL 1.3 billion, and BRL 5.2 billion for the full year, representing a 15% expansion year-over-year [10][38] - The return on equity (ROE) reached 23.9% in 2025, a 94 basis points increase compared to 2024 [11][40] - The BIS ratio at year-end was 20.4%, indicating a strong capital position [11][41] Business Line Data and Key Metrics Changes - Retail revenues in Q4 2025 totaled BRL 3.9 billion, up 8% year-over-year [33] - Corporate and issue services revenue reached BRL 895 million in Q4 2025, a 49% increase year-over-year [35] - The wholesale bank has become a key pillar of the company's strategy, integrating investment banking and institutional access [27] Market Data and Key Metrics Changes - The total client assets, including AUM and AUA, reached BRL 2.1 trillion, representing a 22% growth year-over-year [21] - Retail net new money was BRL 20 billion, while corporate and institutional net new money was BRL 12 billion, totaling BRL 32 billion for the period [21] Company Strategy and Development Direction - The company aims to become Brazil's leading investment platform by 2033, focusing on market share and democratizing wealth planning [51][52] - The strategy includes enhancing service models, refining client segmentation, and expanding product offerings, particularly in private banking and credit [29][54] - The company is committed to maintaining a conservative capital structure while pursuing growth opportunities in new markets [29][46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the current operating environment but expressed confidence in the company's ability to capture future opportunities [7][10] - The company is focused on improving client engagement and long-term value creation through tailored service models and technology investments [12][20] Other Important Information - The company has launched new products in insurance and credit, aiming to enhance cross-sell offerings and improve customer experience [23][24] - The management expressed concerns about recent irregularities in the financial system and emphasized the importance of maintaining competition and access to financial products [46][48] Q&A Session Summary Question: What metrics define the ambition to become Brazil's leading investment platform by 2033? - The company aims for market share growth and has internal plans indicating that reaching this goal is feasible within seven years, focusing on democratizing wealth planning for retail clients [51][52] Question: What does the entry into the controlling group mean for the company? - The CEO stated that there would be no significant changes in management style or operations, emphasizing stronger alignment among executives [54] Question: How does the recent CVM recommendation impact the RLP business? - Management views the removal of caps on asset inclusion as a positive development for the RLP business, enhancing market-making capabilities [60][61] Question: What is the reason behind the increase in taxes this quarter? - The increase in taxes is attributed to the revenue mix, particularly from corporate and issue services, rather than changes in the tax structure [63][64] Question: How is the company performing in capturing volumes from Banco Master reimbursements? - The company is retaining over 85% of inflows from Banco Master, indicating a strong performance in capturing these volumes [68][69]

Financial Data and Key Metrics Changes - The company reported gross revenues of BRL 19.5 billion in 2025, an 8% increase year-over-year [9][33] - Adjusted net income for Q4 2025 was BRL 1.3 billion, and BRL 5.2 billion for the full year, representing a 15% expansion year-over-year [10][38] - The return on equity (ROE) reached 23.9% in 2025, a 94 basis points increase compared to 2024 [11][40] - The year-end BIS ratio was 20.4%, indicating a strong capital position [11][41] Business Line Data and Key Metrics Changes - Retail revenues totaled BRL 3.9 billion in Q4 2025, up 8% year-over-year, and BRL 14.6 billion for the full year, also an 8% increase [33][34] - Corporate and issuer services revenue reached BRL 895 million in Q4 2025, a 49% increase year-over-year, and BRL 2.7 billion for the full year, up 19% compared to 2024 [35][36] - The wholesale bank has become a key pillar of the company's strategy, integrating investment banking and institutional access [27][28] Market Data and Key Metrics Changes - Total client assets, including AUM and AUA, reached BRL 2.1 trillion, representing a 22% growth year-over-year [21] - Retail net new money was BRL 20 billion, while corporate and institutional net new money totaled BRL 12 billion, amounting to BRL 32 billion for the period [21][22] - The company faced challenges with small and medium enterprises withdrawing BRL 3 billion in investments, but individual client inflows totaled BRL 23 billion [22] Company Strategy and Development Direction - The company aims to become Brazil's leading investment platform by 2033, focusing on market share and democratizing wealth planning for retail clients [51][52] - A third wave of strategy is being implemented to enhance service models and client segmentation, moving away from a product-driven approach [52][54] - Continued investments in technology and advisor training are expected to drive growth and improve service quality [18][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing future opportunities despite a challenging environment for 2026 [7][22] - The company is focused on maintaining strong returns while expanding its credit offerings and addressing the needs of small and medium enterprises [29][45] - Concerns were raised regarding recent irregularities in the financial system, with a commitment to support structural improvements [46][48] Other Important Information - The company returned BRL 2.4 billion to shareholders through dividends and buybacks in 2025 [39] - Adjusted EPS for Q4 was BRL 2.56, growing 15% year-over-year, and for the full year, it reached BRL 9.81, an 18% increase [40][41] - The company is launching new products, including a proprietary dollar-backed stablecoin and expanding its insurance offerings [23][24] Q&A Session Summary Question: Ambition to become Brazil's leading investment platform by 2033 - The company aims for market share leadership by 2033, with plans indicating the ability to achieve this in seven years through democratizing wealth planning and enhancing service models [51][52] Question: Impact of entry into the controlling group - The CEO stated that there is no change in management style or operations, emphasizing stronger alignment among executives [54] Question: Impact of CVM's recommendation on RLP business - Management views the removal of caps on orders as positive for the RLP business, enhancing market-making capabilities [60][62] Question: Tax increases and their relation to revenue mix - The CFO clarified that the increase in taxes is due to the revenue mix, particularly from corporate and issuer services, and not related to structural changes [63][64] Question: Strategy to capture volumes from Banco Master reimbursements - The company is seeing a significant inflow from Banco Master, retaining over 85% of the funds, and will disclose net new money figures in Q1 [68][69]

Financial Data and Key Metrics Changes - The company reported gross revenues of $19.5 billion in 2025, an 8% increase year-over-year [8][31] - Adjusted net income for Q4 2025 was BRL 1.3 billion, with a full-year total of BRL 5.2 billion, representing a 15% expansion year-over-year [9][36] - The return on equity (ROE) reached 23.9% in 2025, a 94 basis points increase compared to 2024 [10][38] - The BIS ratio at year-end was 20.4%, indicating a strong capital position even after significant capital returns [10][39] Business Line Data and Key Metrics Changes - Retail revenues in Q4 2025 totaled BRL 3.9 billion, up 8% year-over-year, with full-year retail gross revenue reaching BRL 14.6 billion [31][32] - Corporate and issue services revenues in Q4 2025 were BRL 895 million, a 49% increase year-over-year, with full-year revenues totaling BRL 2.7 billion, up 19% compared to 2024 [32][33] - The wholesale bank has become a key pillar of the company's strategy, integrating investment banking and institutional access, and has seen strong results [25][26] Market Data and Key Metrics Changes - Total client assets, including AUM and AUA, reached BRL 2.1 trillion, representing a 22% growth year-over-year [20] - Retail net new money for Q4 2025 was BRL 20 billion, while corporate and institutional net new money totaled BRL 12 billion, bringing the total to BRL 32 billion for the period [20][21] - The company faced challenges with small and medium enterprises withdrawing BRL 3 billion in investments, but individual client inflows totaled BRL 23 billion [21] Company Strategy and Development Direction - The company aims to democratize wealth services, focusing on a holistic approach to client needs and enhancing service models [6][7] - Investments in technology and governance are central to the growth strategy, with a focus on improving advisor productivity and client satisfaction [15][17] - The company plans to expand its credit offerings and deepen relationships with small and medium enterprises, leveraging its advisor network [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing future opportunities despite a challenging environment for 2026, emphasizing a disciplined approach to growth [5][21] - The company is committed to maintaining strong returns while navigating market dynamics, with a focus on sustainable growth [42][43] - Concerns were raised regarding recent irregularities in the financial system, with management supporting structural improvements to prevent future issues [44][46] Other Important Information - The company celebrated the fifth anniversary of its wholesale bank, highlighting its growth and integration within the financial ecosystem [4] - A new proprietary dollar-backed stablecoin is set to launch in 2026, aimed at diversifying client offerings and enhancing liquidity [22][23] Q&A Session Summary Question: Ambition to become Brazil's leading investment platform by 2033 - Management clarified that the goal is based on market share and internal plans indicate that achieving this by 2033 is feasible through ongoing investments and changes in service models [49][50] Question: Impact of CVM's recommendation on RLP business - Management views the recommendation positively, as it allows for broader asset inclusion and is expected to enhance revenues from market-making activities [59][60] Question: Performance related to Banco Master reimbursements - Management indicated that the company is well-positioned to capture inflows from Banco Master, with a retention rate above 85% [66][69] Question: Decline in NPS - The decline in NPS was attributed to specific events affecting client sentiment, but management expects improvements as these issues are resolved [68]