Nu Holdings Eyes U.S. Expansion Amid Dominant Latin American Growth

Nu Holdings (NYSE: NU) has established itself as a primary force in the Latin American banking sector, leveraging a digital-only model to scale rapidly. By the end of 2025, the company reached 131 million customers, representing a 75% increase over the previous three years. In its primary market of Brazil, the firm has achieved significant penetration, now serving 62% of the adult population. The company is successfully replicating its Brazilian model in other regions, with 14 million customers in Mexico and 4 million in Colombia. Building on this regional momentum, Nu is preparing to launch operations in the United States next year following the conditional approval of a national bank charter, though analysts note the U.S. market may be less prone to the same level of disruption seen in Latin America. Financial performance has remained robust, with revenue increasing at a compound annual rate of 49% between the fourth quarter of 2022 and the fourth quarter of 2025. While the stock price rose 234% over a 36-month period ending April 10, a recent 20% decline from its January peak has adjusted its valuation to a forward price-to-earnings ratio of 17.8. Looking ahead, Wall Street consensus estimates suggest a strong growth trajectory for profitability. Diluted earnings per share are expected to grow by 35% annually between 2025 and 2028, positioning the company as a compelling option for investors seeking long-term growth in the financial services sector.