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INTR

Inter & Co, Inc.

INTR

Inter & Co, Inc. • NASDAQ
$9.09 ▲ 2.48% (+0.22)
Market Cap $4.00 B
52w High $10.22
52w Low $3.88
Dividend Yield 0.08%
P/E 17.82
Volume 657.13K
Outstanding Shares 440.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.521B ▼ $913.115M ▼ $336.345M ▲ 22.108% ▲ $0.76 ▲ $84.524M ▼
Q2-2025 $3.427B ▲ $1.05B ▲ $315.131M ▲ 9.195% ▼ $0.72 ▲ $460.158M ▲
Q1-2025 $3.017B ▲ $939.139M ▼ $286.589M ▲ 9.5% ▼ $0.65 ▲ $424.99M ▲
Q4-2024 $2.786B ▲ $1.008B ▲ $275.189M ▲ 9.879% ▲ $0.63 ▲ $400.812M ▲
Q3-2024 $2.512B $910.762M $242.671M 9.661% $0.54 $347.302M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $0 ▼ $91.809B ▲ $82B ▲ $9.68B ▲
Q2-2025 $27.785B ▼ $84.733B ▲ $75.345B ▲ $9.29B ▲
Q1-2025 $29.072B ▲ $80.559B ▲ $71.546B ▲ $8.901B ▲
Q4-2024 $27.881B ▲ $76.458B ▲ $67.386B ▲ $8.895B ▲
Q3-2024 $23.383B $69.928B $61.061B $8.707B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $336.345M ▲ $-858.919M ▼ $-3.121B ▼ $4.806B ▲ $861.195M ▼ $-870.943M ▼
Q2-2025 $332.166M ▲ $2.562B ▲ $822.051M ▲ $-25.287M ▲ $3.376B ▲ $2.407B ▲
Q1-2025 $306.786M ▲ $1.343B ▼ $-720.738M ▲ $-288.507M ▼ $350.194M ▲ $1.195B ▼
Q4-2024 $294.955M ▲ $2.303B ▲ $-3.52B ▼ $-1.945M ▼ $-1.165B ▼ $2.154B ▲
Q3-2024 $43.759M $177.957M $-748.302M $280.94M $0 $173.322M

Five-Year Company Overview

Income Statement

Income Statement Inter & Co has shifted from a fast-growing but loss-making digital bank into a business that now earns solid profits. Revenue has climbed strongly every year, showing that the platform is scaling and gaining customer traction. After a period of small losses and thin margins, operating and net income have turned clearly positive, suggesting better pricing, cost discipline, and improved credit quality. The main question going forward is whether this margin improvement is sustainable as the company continues to chase high growth and expand its loan book.

Balance Sheet

Balance Sheet The balance sheet has expanded quickly, with total assets growing several times over in just a few years, consistent with a fast-growing bank increasing its lending and customer deposits. Equity has risen steadily, which points to retained earnings and some strengthening of capital, but debt has grown even faster, meaning leverage has increased. Cash levels have moved around quite a bit, indicating active balance sheet management and periods of heavier funding needs. Overall, it looks like a growth-focused bank that is using both deposits and borrowings to scale, which can boost returns but also heightens sensitivity to funding costs, credit risk, and regulation.

Cash Flow

Cash Flow Cash generation tells a more mixed story than earnings. In earlier years, operating and free cash flow were generally positive, but most recently there has been a sizable outflow even as profits improved. For a bank, this often reflects strong loan growth and changes in deposits rather than simple “cash burn,” but it still means the business is tying up more cash in its assets to grow. Capital spending remains modest, so the main cash dynamic is balance sheet expansion, which is healthy if credit quality remains solid but could become a pressure point if growth slows or funding conditions tighten.

Competitive Edge

Competitive Edge Inter & Co occupies an interesting niche as a Brazilian digital “super app” bank with a full banking license, blending traditional banking with fintech-style user experience. Its main strengths are a low-cost, digital-only model, a broad range of services in one app, and a strong brand among younger, tech-savvy customers. The integrated ecosystem of payments, banking, investments, shopping, and rewards creates stickiness and network effects that are hard for more traditional banks to replicate quickly. At the same time, it faces intense competition from large incumbent banks, other neobanks, and global fintechs, and it must navigate Brazilian regulation, credit cycles, and the complexity of expanding abroad, especially into the United States.

Innovation and R&D

Innovation and R&D Innovation is at the core of Inter & Co’s strategy. The company has built a “super app” that combines banking, investing, shopping, and everyday services, supported by cloud technology and heavy use of data and artificial intelligence. AI is used not just for personalizing offers, but also for underwriting and fraud management, which can improve risk control if models remain robust through different economic conditions. Its product roadmap, including deeper AI integration, new credit products, SME-focused services, and international expansion, shows a strong bias toward continuous software and product development rather than traditional lab-style R&D, which is typical for leading fintechs. The ambitious long-term performance targets signal confidence, but they also raise the bar for execution and risk management.

Summary

Inter & Co has evolved from a high-growth fintech story into a digitally driven bank that is starting to show more mature, profitable economics, while still growing quickly. The income statement now reflects real operating leverage, but the balance sheet and cash flows highlight the demands of rapid loan and customer growth, with rising leverage and recent cash outflows tied to expansion. Its competitive edge lies in a powerful super app, a full banking license, and strong brand recognition in Brazil, giving it a differentiated position versus both traditional banks and pure fintechs. Future results will hinge on how well it manages credit risk, funding costs, regulation, and the operational complexity of scaling and international expansion, all while maintaining the pace of innovation that has powered its growth so far.

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