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Itaú Unibanco Holding S.A.

ITUB

Itaú Unibanco Holding S.A. • NYSE
$7.80 ▲ 1.89% (+0.14)
Market Cap $83.79 B
52w High $7.86
52w Low $4.42
Dividend Yield 0.19%
P/E 10.27
Volume 16.94M
Outstanding Shares 10.74B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $36.973B ▼ $5M ▼ $11.876B ▲ 32.121% ▲ $1.1 ▲ $17.116B ▲
Q2-2025 $101.767B ▲ $20.451B ▼ $11.137B ▲ 10.944% ▼ $1.03 ▼ $11.29B ▼
Q1-2025 $95.066B ▲ $21.015B ▲ $10.507B ▼ 11.052% ▼ $1.04 ▼ $14.55B ▲
Q4-2024 $82.101B ▲ $12.748B ▼ $10.835B ▲ 13.197% ▼ $1.05 ▲ $14.221B ▲
Q3-2024 $75.262B $23.069B $10.368B 13.776% $0.9 $11.663B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $343.557B ▲ $2.969T ▲ $2.745T ▲ $214.918B ▲
Q2-2025 $332.519B ▲ $2.877T ▲ $2.659T ▲ $208.547B ▲
Q1-2025 $285.729B ▼ $2.803T ▼ $2.592T ▼ $201.14B ▼
Q4-2024 $637.431B ▼ $2.854T ▲ $2.633T ▲ $211.09B ▲
Q3-2024 $670.973B $2.783T $2.572T $201.365B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $11.876B ▲ $0 ▼ $0 ▼ $0 ▼ $-131.896B ▼ $0 ▼
Q2-2025 $11.398B ▲ $13.898B ▲ $10.002B ▼ $4.066B ▲ $26.541B ▲ $12.112B ▲
Q1-2025 $10.707B ▲ $-11.714B ▼ $19.644B ▲ $-16.255B ▼ $-11.931B ▼ $-13.542B ▼
Q4-2024 $1.856B ▼ $5.319B ▲ $-7.81B ▼ $155.208M ▲ $0 ▼ $5.224B ▲
Q3-2024 $10.595B $-35.905B $42.846B $-1.77B $2.679B $-37.784B

Five-Year Company Overview

Income Statement

Income Statement Itaú Unibanco’s income statement shows a steady, healthy climb in revenue and profit over the past five years, with earnings growing meaningfully every year since the pandemic dip. Profitability has improved as the bank has grown, suggesting better efficiency and disciplined cost control. Margins look comparatively strong for a large regional bank, reflecting good pricing power and risk management. The main thing to watch is how well this strong trend holds if Brazil’s credit cycle or interest-rate environment turn less favorable.

Balance Sheet

Balance Sheet The balance sheet has expanded consistently, with total assets, customer funds, and equity all growing over time. Capital levels have been building, which gives the bank more cushion to absorb shocks and support future growth. Debt funding is large, but that is typical for a major bank and appears supported by a broad, stable customer base. The key sensitivities remain credit quality in the loan book and broader Brazilian macro and regulatory risks, which can quickly affect asset quality and capital needs.

Cash Flow

Cash Flow Cash flows look volatile, which is common for banks because movements in loans and deposits can swing reported operating cash flow from year to year. Most recent figures show negative operating and free cash flow, likely reflecting balance sheet growth and working capital movements rather than structural weakness. Underlying investment in physical assets is modest, pointing to a relatively light capital-spending model. The main question is whether future cash flows remain comfortably supported by earnings and funding access as credit conditions evolve.

Competitive Edge

Competitive Edge Itaú Unibanco holds a very strong competitive position as Brazil’s leading private bank, with enormous scale, a trusted brand, and a broad suite of services across retail, corporate, investment banking, insurance, and asset management. Its size gives it funding advantages, deep customer relationships, and a rich data set that supports better credit and product decisions. A strong digital presence and nationwide physical network make it hard for smaller banks and fintechs to match its reach. The flip side is that regulators, new digital-native competitors, and economic swings in Brazil all pose meaningful, ongoing competitive pressure.

Innovation and R&D

Innovation and R&D The bank is actively repositioning itself as a tech-driven institution, with a flagship Superapp, heavy use of artificial intelligence across hundreds of applications, and a broad migration of systems to the cloud. It is experimenting with generative AI for investment guidance, building a modern API platform for Open Finance, and investing in fintech and AI startups through Itaú Ventures. Most of the “R&D” here is embedded in technology and digital projects rather than traditional lab-style research, which fits a services business. The upside is faster innovation and better personalization; the risk is execution complexity, cybersecurity, and staying ahead of nimble fintech challengers.

Summary

Overall, Itaú Unibanco combines a strong earnings track record, a growing and well-capitalized balance sheet, and a dominant competitive position in Brazil with an ambitious digital and AI-led transformation. Financial trends over the past five years have been positive, with better profitability and scale, though cash flows remain naturally lumpy for a large bank. Its size, brand, and data create a durable edge, while the Superapp, AI initiatives, and venture investments point to a clear innovation agenda. Key uncertainties revolve around credit quality, Brazil’s macro environment, regulatory developments, and execution risk in delivering on its technology strategy without disrupting its core franchise.

NEWS

November 4, 2025 · 6:27 PM UTC

ITAÚ UNIBANCO - Announcement to the Market - Information on the 2025 3rd quarter result

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