Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
XPXP -2.72%71 EV-to-EBITDA is 12.67 as of Jul. 23, 2026, which is 1% below its 10-year median of 12.75. GuruFocus rates XP with a GF Score™ of 71/100 and a GF Value™ of $37.58 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 515 Capital Markets companies, XP ranks worse than 60.19% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, XP's enterprise value is $14,807 Mil.
XP's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $1,168 Mil. Therefore, XP's EV-to-EBITDA for today is 12.67.
The historical rank and industry rank for XP's EV-to-EBITDA or its related term are showing as below:
XP'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 3.56 Med: 12.75 Max: 79.82
Current: 12.67
During the past 10 years, the highest EV-to-EBITDA of XP was 79.82. The lowest was 3.56. And the median was 12.75.
XP's EV-to-EBITDA is ranked worse than 60.19% of 515
companies
in the Capital Markets industry
Industry Median: 9.62
vs XP: 12.67
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
As of today (2026-07-23), XP's stock price is $16.825.
XP's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $1.848. Therefore, XP's PE Ratio (TTM) for today is 9.10.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
XP (NAS:XP) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
XP's share price for today is $16.825.
XP's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1.848.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for XP's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Capital Markets subindustry, XP's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
XP EV-to-EBITDA vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, XP's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where XP's EV-to-EBITDA falls into.
XP's current Enterprise Value is $14,807 Mil.
XP's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,168 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XP (XP) has a EV-to-EBITDA of 12.67 as of Jul. 23, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on XP. This is near median its historical median of 12.75. Over the past decade, XP's EV-to-EBITDA has ranged from 3.56 to 79.82. According to the industry distribution chart, XP ranks #310 out of 515 companies in the Capital Markets industry, placing it in the top 60.2%.
Is XP's EV-to-EBITDA too high?
XP's current EV-to-EBITDA of 12.67 is near median its 10-year median of 12.75. Over the past 10 years, this metric has ranged from a low of 3.56 to a high of 79.82. The Capital Markets industry median EV-to-EBITDA is 9.62. XP's value of 12.67 is 31.7% above this industry median. Based on the distribution chart, XP ranks #310 out of 515 companies in the Capital Markets industry, which is below the industry midpoint. Overall, XP has a GF Score™ of 71/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does XP's EV-to-EBITDA compare to BMNR and HLI?
According to the Capital Markets industry distribution chart, XP ranks #310 out of 515 companies for EV-to-EBITDA. This places XP in the lower half of its industry. The industry median EV-to-EBITDA is 9.62. XP's value of 12.67 is 31.7% above this benchmark. Historically, XP's own EV-to-EBITDA has ranged from 3.56 to 79.82 over the past decade. While the company's 10-year median is 12.75 vs. the industry median of 9.62, XP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for a Capital Markets company?
The median EV-to-EBITDA among Capital Markets companies is 9.62, based on 515 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. XP's current EV-to-EBITDA of 12.67 is 31.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on XP. For the Capital Markets industry, the median EV-to-EBITDA is 9.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. XP's current EV-to-EBITDA is 12.67, which is near median its own 10-year median of 12.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is XP stock overvalued right now?
Based on GuruFocus' analysis, XP (XP) is currently considered Possible Value Trap. The stock's GF Value™ is $37.58, compared to a current price of $16.83 — trading 55.2% below its estimated fair value. The current EV-to-EBITDA is 12.67, which is near median its 10-year median of 12.75 and 31.7% above the Capital Markets industry median of 9.62. XP's overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For XP (XP), the current EV-to-EBITDA is 12.67 as of Jul. 23, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is XP (XP) Overvalued in 2026?
Based on GuruFocus' analysis, XP stock appears to be undervalued.
The current stock price of $16.83 is trading 55.2% below its estimated GF Value™ of $37.58.
GuruFocus considers XP to be Possible Value Trap.
Key valuation signals for XP:
EV-to-EBITDA: 12.67 (near median its 10-year median of 12.75)
GF Value™: $37.58 vs. price of $16.83 (55.2% below fair value)
Industry Position: 31.7% above the Capital Markets median (#310 of 515)
No single metric tells the full story. See the XP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
XP Inc is a Cayman Island-based technology-driven financial services platform. It is a provider of low-fee financial products and services in Brazil. The company evaluates its business through a single segment such as monitoring operations, making decisions on fund allocation, and evaluating the performance. It generates revenue through the Brokerage commission. Geographically, the company derives maximum revenue from Brazil and also has its presence in other countries.
71GF Score
Get the complete analysis for XP
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XP has been successfully added to your 
