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Nubank Overtakes Petrobras as Brazil’s Most Valuable Company

Investors now look to the Nov. 13 earnings for confirmation of the digital bank’s momentum.

Overview

  • The company’s market value sits around US$77 billion, placing it second in Latin America behind Mercado Libre.
  • Shares closed at US$15.93, up roughly 54% in 2025 and near a record high set in September.
  • Second-quarter results showed 123 million customers, record revenue of US$3.7 billion, and strong monthly activity rates.
  • Nubank has applied to the U.S. OCC for a banking license and continues to scale in Mexico, where it reports more than 13 million customers.
  • Analysts expect robust third-quarter profit, with Citi estimating US$759 million and market consensus near US$768 million, while some scenarios model far higher long-term valuations.