CluenexNubank NU
Nubank scores excellent on business quality (7.5 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Nubank does
Nu Holdings provides digital banking services across Latin America, making money through interest on loans, credit card interchange fees, and financial services paid for by everyday retail consumers.
- What it does best
Nu dominates customer acquisition through a zero-branch digital model, driving a return on equity of 30.3% that ranks in the top quartile of its sector at the 87th percentile. This low-cost structure creates a massive barrier to entry for legacy banks burdened by physical branch networks.
- The main risk
A debt-to-equity ratio of 4.2 reflects heavy reliance on consumer lending liabilities, exposing the balance sheet to credit defaults if Latin American macroeconomic conditions deteriorate rapidly.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin stands at 22.7% with net margins near 18.7%, demonstrating solid earnings power as scale increases.
Digital-first convenience locks in retail consumers, reflected in a sector-leading ROE percentile of 87.
Revenue surged 37% to $19.3B, maintaining a steep multi-year acceleration visible across annual summaries.
Total debt sits at $47.1B against $10.7B in cash, while free cash flow dropped to negative $1.7B, showing a capital-intensive expansion phase.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
2 sold $4.3M outside pre-planned sales.
Our sealed record on NU
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Nubank scores excellent on the Cluenex quality check (7.5 of 10), measured against its own industry. Profitability is fair, moat fair, growth fast and financial health strong.
In the last 90 days of SEC Form 4 filings: 2 sold $4.3M outside pre-planned sales.
Nov 12, 2026.
See NU today
- Today's verdict on NU, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Nubank (NU)”, https://cluenex.com/stocks/nu/, data as of Oct 10, 2026.