Nu Holdings Ltd (NU) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nu Holdings Ltd stock $5.42, price $12.03, that is 54.9% below the price, quality 65 out of 100. Rating: strongly overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
59‑month range $3.31 – $18.76 · fair‑value band $3.84 – $11.47 · the $12.03 price screens above the $5.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Nu Holdings Ltd. provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.
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The company provides spending solutions comprising Nu credit and prepaid card, a digitally enabled card that acts as a credit and a prepaid card; Nubank+ Tier, an evolution of the Nu experience; Ultraviolet credit and prepaid card, a premium metal credit card; mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones; and Nu Shopping, an integrated marketplace that enables customers to purchase goods and services from various ecommerce retailers.
It also offers transactional solutions, such as Nu Personal Accounts, a digital account solution for personal financial activities; Nu business accounts for entrepreneur customers and their businesses; and Nu business prepaid and credit card.
In addition, it offers savings and investing solutions, including Money Boxes, a solution for goal-based investing; investing solutions, an attractive investment product with customized and conflict-free guidance; and NuCrypto, a solution for buying and selling cryptocurrencies through the Nu app.
Further, the company provides borrowing solutions comprising personal unsecured and secured loans; Pix financing that enables credit card and digital account customers to make free and instant peer-to-peer transfers; Boleto financing, which enables credit card and digital account customers to make payments; purchase financing; cash-in financing; and NuPay to make online purchases and pay for services through Nu app.
Additionally, it offers protection solutions, such as NuInsurance protection solutions, including life, mobile, auto, home, and financial protection insurance policies; and beyond financial services solutions, including NuTravel, a travel portal; and NuCel, a mobile phone service.
Nu Holdings Ltd. was founded in 2013 and is headquartered in São Paulo, Brazil.
Stock analysis
Nu Holdings Ltd (NU) currently trades at $12.03, while our model-based Fair Value estimate is $5.42, 55% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $5.42 per share, and 0 of the 4 models we run sit above the $12.03 price.
Bear case: the Asset-Based group reads lowest at $1.40, and 4 of the 4 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $3.84 (bear) to $11.47 (bull), the price of $12.03 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nu Holdings Ltd reported revenue of $15.9B in FY2025 versus $1.7B in FY2021, a compound +74.9%/yr. Reported net income was $2.9B in FY2025.
Key figures
Market cap $72.9B Large · P/E ratio 20.7 · P/S ratio 8.64 · EPS (TTM) $0.7300 · Net margin 42.7% · Return on equity 31.6% · Return on assets (EBIT) 2.5% (5-year average) · Operating margin 50.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 91 out of 100 (medium confidence).
What moves the price
The share trades about 36% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −55%, NU screens richer than that median.
Fair Value models
Bear$3.84Fair Value $5.42Bull$11.47
Price $12.03 · Downside -54.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.6240 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleAnita M SandsDirector21,000 shares at $12.24$257,040May 15, 2026
Plus 22 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+43.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+49.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+84.8%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+80.6%
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’25
What shareholders gained per year (last 3 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+66.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+66.0%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−13% → 24%
2025 sits 90% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
⚠ Revenue per share shrinking 1.7%/yr over ~5Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Digital scale and founder alignment stand out as core strengths, while limited human capital, innovation signals and regional regulatory exposure form the main weaknesses.
Main risk: Other digital banks such as Banco Inter and C6 Bank could take customers with similar low-fee accounts and credit products or force lower prices and margins on Nubank's core offerings in Brazil.
Bull case: Nubank could leverage its proprietary AI models and vast customer data to deepen personalization and cross-selling, widening its cost and engagement lead over rivals.
Bear case: If rivals match the low-cost digital model or capture share through open banking and instant payments, Nubank's growth in customer acquisition and revenue per user could slow materially in its main markets.
Nu just delivered its first billion-dollar profit quarter while deepening engagement across Latin America. The recent slide traces mainly to Brazil's election and lingering policy uncertainty there. Will the US rollout and December investor day unlock enough new growth to ease those domestic risks, or will macro sensitivity keep the stock discounted?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 998 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−54.9% · Bottom 25%
Profitability
Return on equity (12 months)31.6% · Top 25%
Return on assets3.8% · Top 25%
Net margin (12 months)42.7% · Top 25%
Operating margin (12 months)50.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)52.1% · Top 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Is Nu Holdings Ltd (NU) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $5.42 versus a price of $12.03, about 55% lower (overvalued).
What is the fair value of NU?
Our model-based fair value for Nu Holdings Ltd is $5.42 (as of Nov 8, 2026), built from audited fundamentals. The current price: $12.03.
What is the quality score of NU?
Nu Holdings Ltd has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Nu Holdings Ltd (NU)?
Our model-based price target is the fair value of $5.42 (as of Nov 8, 2026) from 4 valuation models. Cautious scenario $3.84, optimistic scenario $11.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Nu Holdings Ltd stock forecast for 2026?
Our models put fair value at $5.42, about 55% lower versus a price of $12.03 (overvalued). Cautious scenario $3.84, optimistic scenario $11.47. The calculation is refreshed regularly with new filings.
What is the revenue of Nu Holdings Ltd (NU)?
Nu Holdings Ltd reported trailing-twelve-month revenue of about $8.4B (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Nu Holdings Ltd (NU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nu Holdings Ltd it is $5.42 per share (as of Nov 8, 2026), against a price of $12.03. It is the blended result of 4 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Nu Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, NU trades above its calculated fair value: price $12.03, fair value $5.42, a gap of about −55% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NU?
No. The price is what the market pays today ($12.03); the fair value is what the company's own numbers justify ($5.42). For Nu Holdings Ltd the two are $6.61 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nu Holdings Ltd worth?
The market values Nu Holdings Ltd at about $72.9B (market capitalisation, as of Nov 8, 2026). Per share that is $12.03; our models calculate a fair value of $5.42 per share.
What do the bullish and bearish scenarios say about NU?
Our models span a range for Nu Holdings Ltd: cautious scenario $3.84, base $5.42, optimistic $11.47 per share (as of Nov 8, 2026, price $12.03). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NU?
Nu Holdings Ltd trades at a price-to-earnings ratio of 20.7 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $5.42 is built from several models across several years. Other multiples: PEG 0.6, P/B 6.5, P/S 8.6, EV/EBITDA 14.7.
What is the PEG ratio of NU?
The PEG ratio of Nu Holdings Ltd is 0.63 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Nu Holdings Ltd (NU)?
Balance-sheet figures for Nu Holdings Ltd (as of Nov 8, 2026): return on equity 31.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is NU from its 52-week high?
Nu Holdings Ltd trades at $12.03, about 36% below its 52-week high of $18.76 and 4% above the low of $11.60 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $5.42 is for.
Which stocks are comparable to Nu Holdings Ltd?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nu Holdings Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price $12.03, calculated fair value $5.42 (−55%), Quality Score 65/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NU calculated?
We run Nu Holdings Ltd through 4 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $5.42 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Nu Holdings Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nu Holdings Ltd (NU)?
The closing price on Nov 6, 2026 was $12.03. Our model-based fair value is $5.42, about 55% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nu Holdings Ltd right now?
The price sits above even our optimistic bull case ($11.47). The favourable scenario is already priced in. The model range is unusually wide ($3.84 to $11.47). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Nu Holdings Ltd
How large is the market capitalisation of Nu Holdings Ltd (NU)?
The market capitalisation of Nu Holdings Ltd is $72.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nu Holdings Ltd (NU)?
The price-to-sales ratio of Nu Holdings Ltd is 8.64 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nu Holdings Ltd (NU)?
Earnings per share at Nu Holdings Ltd are $0.7300 (price ÷ EPS = P/E 20.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nu Holdings Ltd (NU)?
The net margin of Nu Holdings Ltd is 42.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nu Holdings Ltd (NU)?
The return on equity (ROE) of Nu Holdings Ltd is 31.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nu Holdings Ltd (NU)?
On an EBIT basis the return on assets of Nu Holdings Ltd is 2.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nu Holdings Ltd (NU)?
The operating margin of Nu Holdings Ltd is 50.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nu Holdings Ltd (NU)?
Revenue at Nu Holdings Ltd is growing +52.1% versus a year earlier (3y avg +49.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nu Holdings Ltd (NU)?
Earnings per share at Nu Holdings Ltd are growing +66.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nu Holdings Ltd (NU) generate?
The free cash flow of Nu Holdings Ltd is $3.5B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Nu Holdings Ltd (NU) hold?
Nu Holdings Ltd holds more cash than debt, $9.8B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 8, 2026
