# Nu Holdings Ltd. (NU) — Stock CV

Nu Holdings Ltd. is a $77.6B financial services company. Revenue grew 26.8% over the last year, and it keeps 41¢ of every dollar of sales as profit. It trades at 21.6× earnings.

> Nubank is a Brazilian financial technology firm that offers digital banking services in Brazil, Mexico, and Colombia. Founded in 2013, it is best known for its credit cards and online savings accounts.

## Identity

- **Ticker**: NU
- **Sector**: Financial Services
- **Employees**: 10 027
- **Website**: https://www.nubank.com.br
- **Market cap**: $77.6B
- **Last price**: $16.07
- **Financial profile**: Strained

## Vitals (FY2025)

- **Revenue**: $6.99B
- **Net income**: $2.87B
- **Free cash flow**: -$10.3B
- **Net cash**: $9.27B
- **P/E**: 21.6
- **Revenue growth (YoY)**: 26.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 45 |
| Growth | 45 |
| Profitability | 95 |
| Health | 28 |
| Quality | 16 |
| Moat | 38 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +26.8% YoY
- [x] Profitable — $2.87B FY2025
- [x] Profit growing — +45.5% YoY
- [ ] Generates cash — -$10.3B FY2025
- [x] Debt under control — more cash than debt
- [x] Established company — $77.6B market cap
- [x] Not printing shares — +2.9% shares over ~5y
- [ ] Proven track record — 3/5 profitable years
- [ ] Financially stable — Altman Z 0.4 — distress
- [x] Valuation not extreme — P/E 21.6

## Experience (career milestones)

- **FY2025** — Best year on record: $2.87B net income
- **FY2023** — Turned profitable: $1.03B net income after a loss year
- **2023** — NCsoft released the MMPRPG 'Throne and Liberty'
- **FY2022** — Revenue crossed $1B: $1.84B for the year
- **2022** — The Public Investment Fund of Saudi Arabia acquired a 9.26 percent stake in NCSoft, becoming the…
- **Aug 21, 2020** — NCSoft entered the Korean entertainment industry by launching a new subsidiary called "Klap Co.,…
- **2012** — NCSoft launched Blade & Soul, its first MMORPG since Aion launched in 2008
- **Feb 15, 2012** — The talks were expected to last less than a month, but it took seven for NCSoft to complete the acquisition
- **Jul 8, 2011** — NCSoft started talks with SK Telecom to acquire Ntreev Soft Co., Ltd
- **2004** — NCSoft launched two MMORPGs, Lineage II and City of Heroes
- **2001** — The company created a US subsidiary under the name NC Interactive (based in Austin, Texas
- **1998** — NCSoft launched its first game Lineage
- **1997** — NCSoft was founded in March 1997 by Kim Taek-jin

## Strengths

- High gross margin (41.2%)
- Strongly profitable — 41.0% net margin
- Revenue growing 26.8% year over year
- Net cash position after subtracting debt from cash
- High returns on invested capital (ROIC 72.1%)

## Watch-outs

- Negative free cash flow (-$10.3B)
- Altman Z-Score 0.44 — elevated financial-distress risk
- Thin interest coverage (-0.9×)
- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $850M | -$165M | -$5.54B |
| FY2022 | $1.84B | -$365M | -$6.42B |
| FY2023 | $3.71B | $1.03B | -$3.52B |
| FY2024 | $5.51B | $1.97B | -$9.37B |
| FY2025 | $6.99B | $2.87B | -$10.3B |

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Source: https://stockcv.com/NU — derived from company filings; may be delayed or incomplete. Information, not investment advice.