Highlights

  • Nu shares have delivered double-digit gains over six and twelve months amid rising scale.
  • The fintech’s Formula 1 partnership aligns with its focus on international brand visibility.
  • Q3 FY25 results underline revenue growth alongside expanding customer engagement metrics.

Nu Holdings Ltd. (NYSE:NU) closed at USD 17.24 on January 21, 2026, rising 1.59% on the day. Over the past month, the stock has advanced 3.73%, while gains stand at 34.79% over six months and 43.79% over the past year. The company currently carries a market capitalisation of USD 83.54 billion, with a trailing P/E ratio of 33.41. The stock has traded between a 52-week low of USD 9.01 and a high of USD 18.37, reflecting a wide valuation range during the year.

Formula 1 Partnership and Brand Visibility
In January 2026, Nu announced a multi-year global partnership with the Mercedes-AMG PETRONAS Formula One Team, becoming an official team partner ahead of the 2026 FIA Formula One World Championship season.

The partnership is designed to expand brand exposure across Latin America, the United States, and other strategic regions. With Formula 1’s audience estimated at over 827 million fans globally, the collaboration aligns with Nu’s presence in Brazil, Mexico, and Colombia, markets where the company already holds sizable customer bases. The agreement includes both on-track and off-track activations and driver-led fan engagement initiatives.

Q3 FY25 Financial and Customer Trends
For the third quarter ended September 30, 2025, Nu reported record revenue of USD 4.2 billion, reflecting 39% year-on-year growth on an FX-neutral basis. Net income reached USD 783 million, translating into a return on equity of 31% for the quarter. The company added 4.3 million new customers, taking its total to 127 million, with an activity rate above 83%.

Brazil remained the largest market, serving 110 million customers, representing over 60% of the adult population. Mexico crossed 13 million customers, while Colombia approached 4 million, indicating continued geographic diversification. Monthly average revenue per active customer rose above USD 13, while the average monthly cost to serve remained below USD 1.

Credit Growth and Risk Indicators
Nu’s total credit portfolio expanded to USD 30.4 billion, up 42% year-on-year FX-neutral, with growth across credit cards and lending products. Deposits reached USD 38.8 billion, and the loan-to-deposit ratio stood at 46%. Asset quality indicators showed the 15–90 day NPL ratio at 4.2% and 90+ day NPL at 6.8% for the Brazil consumer portfolio, broadly reflecting seasonal patterns.

Editorial View
From an analytical standpoint, Nu’s recent stock performance appears closely tied to its ability to scale customers while maintaining operating efficiency. The Formula 1 partnership adds a global branding layer, though its financial impact remains indirect and long-term in nature. With elevated valuation metrics, the stock’s future movement is likely to remain sensitive to execution consistency, credit performance, and macroeconomic conditions across its core markets.