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XP's gross profit for the
three
months ended in Mar. 2026 was $94 Mil. XP's gross profit for the trailing twelve months (TTM) ended in Mar. 2026 was $440 Mil.
Gross Margin % is calculated as gross profit divided by its revenue. XP's gross profit for the
three
months ended in Mar. 2026 was $94 Mil. XP's Revenue for the
three
months ended in Mar. 2026 was $370 Mil. Therefore, XP's Gross Margin % for the quarter that ended in Mar. 2026 was 25.40%.
XP had a gross margin of 25.40% for the quarter that ended in Mar. 2026 => Competition eroding margins
During the past 10 years, the highestGross Margin % of XP was 56.17%. The lowest was 17.65%. And the median was 37.38%.
Warning Sign:
XP Inc gross margin has been in long-term decline. The average rate of decline per year is -8.9%.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
XP had a gross margin of 25.40% for the quarter that ended in Mar. 2026 => Competition eroding margins
XP Gross Profit Related Terms
XP Gross Profit Historical Data
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The historical data trend for XP's Gross Profit 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 Gross Profit, along with its competitors' market caps and Gross Profit 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 Gross Profit vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, XP's Gross Profit distribution charts can be found below:
* The bar in red indicates where XP's Gross Profit falls into.
Gross Profit 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 $440 Mil.
Gross Profit is the numerator in the calculation of Gross Margin.
XP's Gross Margin % for the quarter that ended in Mar. 2026 is calculated as
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
XP (XP) has a Gross Profit of $440 Mil as of Mar. 2026. Gross Profit equals net sales less total cost of goods sold. View historical data on XP and its competitors.
Is XP's Gross Profit too high?
XP's current Gross Profit is $440 Mil. 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 Gross Profit compare to RIOT and SNEX?
XP's Gross Profit of $440 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Profit for a Capital Markets company?
A good Gross Profit depends on the Capital Markets industry context. However, Gross Profit should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Profit mean?
A high Gross Profit can signal that a stock is expensive relative to its fundamentals. Gross Profit equals net sales less total cost of goods sold. View historical data on XP and its competitors. XP's current Gross Profit is $440 Mil. 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 $23.05, compared to a current price of $15.51 — trading 32.7% below its estimated fair value. The current Gross Profit is $440 Mil. 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 Gross Profit calculated?
Gross Profit is calculated from a company's financial statements. For XP (XP), the current Gross Profit is $440 Mil as of Mar. 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 $15.51 is trading 32.7% below its estimated GF Value™ of $23.05.
GuruFocus considers XP to be Possible Value Trap.
Key valuation signals for XP:
Gross Profit: $440 Mil
GF Value™: $23.05 vs. price of $15.51 (32.7% below fair value)
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
Gross Profit is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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