Nu Hldgs Ltd Financials

Source SEC Filings (10-K/10-Q) Updated Apr 8, 2026 Currency USD FYE April

This page shows Nu Hldgs Ltd (NU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI NU FY2025 2026-04-22

Balance-sheet expansion is driving earnings growth, with profits rising as the company puts much more funding to work.

Between FY2023 and FY2025, net income nearly tripled while total assets also expanded sharply, so the company is not just getting bigger; it is extracting more earnings from a much heavier balance sheet at the same time. Yet ROA reached only 3.8% in FY2025, telling you scale and funding capacity matter more here than rich profit per asset dollar.

By FY2025, operating cash flow of $3.5B exceeded net income of $2.9B, a useful sign that reported profit is being collected in cash rather than building only in accounting entries. That is especially informative after FY2021's negative operating cash flow, because the move into profitability was matched by a real improvement in cash generation rather than a paper-only margin shift.

The funding structure stayed liability-heavy, with $63.6B of liabilities supporting $11.3B of equity in FY2025, so returns are being generated through a large financed balance sheet rather than an asset-light model. At the same time, accounts receivable climbed to $21.8B, meaning more of the company's growth is tied to customer-linked assets that must keep performing and converting into cash.

Financial Health Signals

Financial Profile 43/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Nu Hldgs Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

100

Nu Hldgs Ltd's revenue surged 37.0% year-over-year to $15.8B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Nu Hldgs Ltd carries a low D/E ratio of 0.39, meaning only $0.39 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Returns

Nu Hldgs Ltd's ROE of 25.4% shows moderate profitability relative to equity, earning a score of 64/100. This is down from 25.8% the prior year.

Piotroski F-Score Weak

3/9

Nu Hldgs Ltd passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.22x

For every $1 of reported earnings, Nu Hldgs Ltd generates $1.22 in operating cash flow ($3.5B OCF vs $2.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$15.8B

YoY+37.0%

5Y CAGR+84.5%

Nu Hldgs Ltd generated $15.8B in revenue in fiscal year 2025. This represents an increase of 37.0% from the prior year.

EBITDA

N/A

Net Income

$2.9B

YoY+45.6%

Nu Hldgs Ltd reported $2.9B in net income in fiscal year 2025. This represents an increase of 45.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$15.0B

YoY+63.3%

5Y CAGR+45.0%

Nu Hldgs Ltd held $15.0B in cash against $4.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

3.83B

Nu Hldgs Ltd had 3.83B shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

18.2%

YoY+1.1pp

5Y CAGR+41.5pp

Nu Hldgs Ltd's net profit margin was 18.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.1 percentage points from the prior year.

Return on Equity

25.4%

YoY-0.4pp

5Y CAGR+64.5pp

Nu Hldgs Ltd's ROE was 25.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NU Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$15.8B+37.0%	$11.5B+43.4%	$8.0B+67.5%	$4.8B+182.2%	$1.7B+130.4%	$737.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$996.7M+21.1%	$823.1M+61.9%	$508.5M+812.5%	$55.7M+1253.9%	-$4.8M-122.3%	$21.7M
Net Income	$2.9B+45.6%	$2.0B+91.4%	$1.0B+382.6%	-$364.6M-120.5%	-$165.3M+3.6%	-$171.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A

NU Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$74.9B+50.0%	$49.9B+15.2%	$43.3B+44.8%	$29.9B+50.7%	$19.9B+95.6%	$10.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$15.0B+63.3%	$9.2B+55.1%	$5.9B+42.0%	$4.2B+54.2%	$2.7B+15.4%	$2.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$21.8B+256.5%	$6.1B-3.1%	$6.3B+48.6%	$4.2B+80.9%	$2.3B+58.7%	$1.5B
Goodwill	$409.4M-1.2%	$414.3M+4.2%	$397.5M0.0%	$397.4M-1.1%	$401.9M+48260.0%	$831K
Total Liabilities	$63.6B+50.3%	$42.3B+14.5%	$36.9B+47.5%	$25.0B+62.5%	$15.4B+58.7%	$9.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$4.4B+154.2%	$1.7B+52.3%	$1.1B+94.1%	$585.6M+297.7%	$147.2M+51.1%	$97.5M
Total Equity	$11.3B+48.1%	$7.6B+19.4%	$6.4B+31.0%	$4.9B+10.1%	$4.4B+914.0%	$438.1M
Retained Earnings	$6.4B	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21
Total Assets	$49.9B+15.2%	$43.3B+44.8%	$29.9B+50.7%	$19.9B+95.6%	$10.2B
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$9.2B+55.1%	$5.9B+42.0%	$4.2B+54.2%	$2.7B+15.4%	$2.3B
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$6.1B-3.1%	$6.3B+48.6%	$4.2B+80.9%	$2.3B+58.7%	$1.5B
Goodwill	$414.3M+4.2%	$397.5M0.0%	$397.4M-1.1%	$401.9M+48260.0%	$831K
Total Liabilities	$42.3B+14.5%	$36.9B+47.5%	$25.0B+62.5%	$15.4B+58.7%	$9.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.7B+52.3%	$1.1B+94.1%	$585.6M+297.7%	$147.2M+51.1%	$97.5M
Total Equity	$7.6B+19.4%	$6.4B+31.0%	$4.9B+10.1%	$4.4B+914.0%	$438.1M
Retained Earnings	N/A	N/A	N/A	N/A	N/A

NU Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.5B+45.9%	$2.4B+89.5%	$1.3B+67.6%	$755.6M+125.8%	-$2.9B-400.1%	$974.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$342.3M-3.5%	-$330.6M-86.8%	-$177.0M-39.2%	-$127.2M+17.5%	-$154.2M-847.7%	-$16.3M
Financing Cash Flow	$2.3B+214.7%	$727.7M+71.1%	$425.2M-35.0%	$654.0M-80.4%	$3.3B+1289.4%	$240.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

NU Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	18.2%+1.1pp	17.1%+4.3pp	12.8%+20.4pp	-7.6%+2.1pp	-9.7%+13.5pp	-23.3%
Return on Equity	25.4%-0.4pp	25.8%+9.7pp	16.1%+23.5pp	-7.5%-3.7pp	-3.7%+35.4pp	-39.1%
Return on Assets	3.8%-0.1pp	4.0%+1.6pp	2.4%+3.6pp	-1.2%-0.4pp	-0.8%+0.9pp	-1.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.39+0.2	0.23+0.0	0.18+0.1	0.12+0.1	0.03-0.2	0.22
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.23+0.0	0.18+0.1	0.12+0.1	0.03-0.2	0.22
FCF Margin	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Nu Hldgs Ltd's annual revenue?

Nu Hldgs Ltd (NU) reported $15.8B in total revenue for fiscal year 2025. This represents a 37.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Nu Hldgs Ltd's revenue growing?

Nu Hldgs Ltd (NU) revenue grew by 37% year-over-year, from $11.5B to $15.8B in fiscal year 2025.

Is Nu Hldgs Ltd profitable?

Yes, Nu Hldgs Ltd (NU) reported a net income of $2.9B in fiscal year 2025, with a net profit margin of 18.2%.

How much debt does Nu Hldgs Ltd have?

As of fiscal year 2025, Nu Hldgs Ltd (NU) had $15.0B in cash and equivalents against $4.4B in long-term debt.

What is Nu Hldgs Ltd's net profit margin?

Nu Hldgs Ltd (NU) had a net profit margin of 18.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Nu Hldgs Ltd's return on equity (ROE)?

Nu Hldgs Ltd (NU) has a return on equity of 25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Nu Hldgs Ltd's operating cash flow?

Nu Hldgs Ltd (NU) generated $3.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Nu Hldgs Ltd's total assets?

Nu Hldgs Ltd (NU) had $74.9B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Nu Hldgs Ltd have outstanding?

Nu Hldgs Ltd (NU) had 3.83B shares outstanding as of fiscal year 2025.

What is Nu Hldgs Ltd's debt-to-equity ratio?

Nu Hldgs Ltd (NU) had a debt-to-equity ratio of 0.39 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Nu Hldgs Ltd's return on assets (ROA)?

Nu Hldgs Ltd (NU) had a return on assets of 3.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Nu Hldgs Ltd's Piotroski F-Score?

Nu Hldgs Ltd (NU) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Nu Hldgs Ltd's earnings high quality?

Nu Hldgs Ltd (NU) has an earnings quality ratio of 1.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Nu Hldgs Ltd?

Nu Hldgs Ltd (NU) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.