Inter & Co, Inc.
- Open
- 5.40
- Day high
- 5.83
- Day low
- 5.40
- Prev close
- 5.41
- Volume
- 1.4M
- Mkt cap
- $2.5B
- P/E (TTM)
- 8.5
- EPS (TTM)
- $0.67
- P/B
- 1.2
- P/S
- 0.8
- Yield
- 1.99%
- Per share
- $0.11
Inter & Co, Inc. (INTR) is a Financial Services company listed on NASDAQ. The stock is down 35% over the past year. Drillr has 1 published research article covering INTR.
Inter & Co, Inc. (INTR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
INTR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.18 | $0.19 | +4.7% | $518M | +0.8% |
| May 7, 2026 | $0.17 | $0.17 | +0.0% | $496M | +0.2% |
| Feb 11, 2026 | $0.16 | $0.16 | -2.4% | $786M | -66.4% |
| Nov 13, 2025 | $0.15 | $0.14 | -5.7% | $715M | +81.3% |
| Aug 6, 2025 | $0.12 | $0.13 | +8.3% | $631M | +81.5% |
| Feb 6, 2025 | $0.10 | $0.11 | +10.0% | $449M | +52.1% |
| Nov 14, 2024 | $0.10 | $0.10 | -1.8% | $460M | +62.8% |
| May 9, 2024 | $0.08 | $0.09 | +12.5% | $427M | +56.8% |
| Feb 7, 2024 | $0.07 | $0.07 | +0.0% | $420M | +58.4% |
| Aug 14, 2023 | $0.02 | $0.02 | +0.0% | $238M | +1.6% |
| Mar 13, 2023 | $-0.03 | $0.01 | +133.3% | $187M | -4.5% |
| Aug 15, 2022 | $0.00 | $-0.01 | -272.9% | $166M | -8.2% |
Inter & Co, Inc. company profile
Overview
Inter & Co, Inc. (NASDAQ:INTR) is a Brazilian financial technology company that went public in June 2022. Founded in 1994 and based in Belo Horizonte, Brazil, the company has evolved from a traditional regional bank into a comprehensive digital financial services platform. Inter operates as a "super app" that combines banking, investment, insurance, marketplace, and payment services under one integrated platform, serving over 36 million clients across Brazil and expanding internationally with a focus on the United States market.
Business
Inter & Co operates as a digital financial services conglomerate, functioning as what is commonly known as a "super app" - a single platform that provides multiple financial and commerce services. The company operates through six main business segments: Banking Services represents the core of Inter's business, offering traditional banking products including checking accounts, savings accounts, credit and debit cards, personal loans, home equity loans, and FGTS (Brazilian government employment fund) loans. The banking segment has grown rapidly, with the loan portfolio reaching 41 billion Brazilian reais by 2024, representing 33% year-over-year growth. Securities and Investment Services provides brokerage services, portfolio management, and investment fund management. This segment has seen significant growth, with assets under custody reaching 122 billion Brazilian reais, growing 50% year-over-year. The company also launched Forum, a content platform for investment education and community building. Insurance Brokerage offers a comprehensive range of insurance products including life, property, auto, financial, dental, travel, and credit protection insurance. This segment has experienced explosive growth with over 3.4 million active contracts, representing 115% year-over-year growth. Marketplace (Intershop) operates a digital commerce platform where customers can purchase goods and services. The marketplace has achieved significant scale with gross merchandise value (GMV) reaching nearly 5 billion Brazilian reais and 79% year-over-year revenue growth. Asset Management focuses on managing investment portfolios and other financial assets for clients, complementing the securities services segment. Services encompasses technology services including software development, technical support, and IT maintenance, both for internal use and external clients. The company also operates a loyalty program called Loop, which has attracted over 11 million clients and serves as a key engagement and retention tool across all business segments.
Revenue model
Inter & Co generates revenue through multiple streams across its diversified business model. The Banking segment earns money primarily through net interest income from loans and credit cards, as well as fees from banking services. With a loan portfolio of 41 billion Brazilian reais and a competitive cost of funding at 64% of Brazil's benchmark CDI rate, the company maintains healthy net interest margins that have been expanding by approximately 20 basis points per quarter. The Securities and Investment services generate revenue through brokerage commissions, portfolio management fees, and fund management fees. With 122 billion Brazilian reais in assets under custody, this segment benefits from both transaction-based and asset-based fee structures. Insurance Brokerage operates on a commission-based model, earning fees for selling insurance products from various providers. With over 3.4 million active contracts, this segment has become a significant revenue contributor with strong growth momentum. The Marketplace generates revenue through transaction fees, commissions from merchants, and potentially advertising fees from sellers on the platform. With GMV approaching 5 billion Brazilian reais, this segment has achieved substantial scale. Several factors influence Inter's profitability margins. Positive factors include Brazil's high interest rate environment which supports net interest margins, the company's low cost of funding due to its large deposit base, cross-selling opportunities across the super app ecosystem that reduce customer acquisition costs, and operational leverage from the digital-first model. The company's ability to maintain a cost of funding significantly below market rates provides a competitive advantage in lending. Negative factors include Brazil's volatile economic environment which affects credit risk and loan demand, intense competition from both traditional banks and fintech companies, regulatory changes in the Brazilian banking sector, and the need for continuous technology investments to maintain competitive positioning. The company's expansion into international markets also introduces foreign exchange and regulatory risks.
Competitive moat
Inter & Co's competitive moat is moderately strong but faces ongoing challenges in the highly competitive Brazilian fintech landscape. The company's primary moat stems from its super app ecosystem that creates high switching costs for customers who use multiple services within the platform. With over 36 million clients and a 57% activation rate, Inter has achieved significant scale that provides cost advantages and network effects. The company's technological infrastructure and digital-first approach provide operational efficiency advantages over traditional banks, evidenced by its improving efficiency ratio of 50.1%. Inter's ability to maintain a low cost of funding at 64% of CDI demonstrates strong deposit franchise and customer loyalty. However, the moat faces several vulnerabilities. The Brazilian fintech market is highly competitive with numerous well-funded players including Nubank, which has achieved greater scale. Regulatory risks are significant as Brazilian banking regulations continue to evolve, potentially impacting Inter's business model. The company's international expansion, while promising, is still in early stages and faces established competitors in the US market. Potential disruption could come from larger technology companies entering financial services, traditional banks accelerating their digital transformation, or new fintech entrants with superior technology or funding. The open banking regulations in Brazil also reduce some switching costs, potentially weakening Inter's ecosystem moat. The company's moat is best characterized as moderate - sufficient to maintain competitive positioning in the near term but requiring continuous innovation and execution to strengthen over time.
Risks & safety
Inter & Co presents a moderate margin of safety profile with mixed financial health indicators. • Liquidity Position: Strong with 170.6 billion Brazilian reais in cash and short-term investments, providing substantial liquidity buffer • Debt Management: Debt-to-equity ratio of 0.39 is manageable for a financial services company, indicating reasonable leverage • Cash Flow Concerns: Negative operating cash flow of -237.8 million Brazilian reais and negative free cash flow of -242.0 million Brazilian reais raise concerns about cash generation • Profitability: ROE of 3.1% is below target levels, though the company achieved 11.7% ROE for full year 2024 • Valuation Metrics: P/E ratio of 10.4 appears reasonable, P/B ratio of 1.29 suggests modest premium to book value • Solvency: Strong capital position with CET1 ratio above regulatory requirements, total assets of 13.3 billion Brazilian reais provide substantial scale • Growth Trajectory: Strong revenue growth of 33% in loan portfolio and expanding market share provide positive momentum • Regulatory Environment: Operating in Brazil's regulated banking sector provides both protection and compliance costs
Recent development
Over the past few years, Inter & Co has executed several strategic initiatives to transform from a regional bank into a comprehensive financial super app. The company has focused heavily on digital innovation and product expansion, launching new services including PIX financing, buy-now-pay-later options, and an AI-powered shopping concierge called Inter Shop Concierge. A significant development has been the company's international expansion strategy, particularly in the United States where it has grown to 3.9 million global account clients with $1.4 billion in deposits and assets under custody. This represents 19% of Inter's active client base and demonstrates the company's ability to expand beyond Brazil. The Loop loyalty program has become a cornerstone of Inter's engagement strategy, growing to over 11 million clients and serving as a key differentiator in customer retention and cross-selling. The company has also made strategic acquisitions, including Granito (renamed Interpack), which expanded its acquiring and payment processing capabilities. Inter has pursued a 60-30-30 strategic plan targeting 60 million clients, a 30% efficiency ratio, and 30% return on equity. While still working toward these targets, the company has made substantial progress with 36 million clients achieved and efficiency ratio improved to 50.1%. The company has also launched Forum, a content and investment education platform that has attracted 5 million users, demonstrating Inter's commitment to building community and engagement beyond traditional financial services. Recent quarters have shown focus on expanding the consumer finance 2.0 portfolio with new credit products showing promising early results with lower delinquency rates than traditional offerings.
INTR company profile · for informational purposes only — not investment advice.
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