Inter & Co, Inc.
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Range $8.8 – $8.8
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About the company
Inter & Co, Inc. , a Brazilian enterprise established in 1994 and headquartered in Belo Horizonte, conducts a broad array of operations through its subsidiary companies. Its diverse business model encompasses banking, investment services, insurance intermediation, e-commerce, asset administration, and various support services.
- CEO
- Joao Vitor Nazareth Menin Teixeira de Souza
- IPO
- 2022
- Employees
- 4,030
- HQ
- Belo Horizonte, MG, BR
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $2.32B
- P/E
- 7.83
- Fwd P/E
- 1.30
- PEG
- 0.21
- P/S
- 0.72
- P/B
- 1.15
- EV/EBITDA
- 15.77
- Div Yield
- 2.15%
- Gross Margin
- 40.41%
- Op Margin
- 11.27%
- Net Margin
- 9.19%
- ROE
- 15.20%
- ROIC
- 1.59%
Latest fiscal year · YoY change
- Revenue
- $14.38B+48.0%
- Gross Profit
- $5.98B+30.1%
- Op Income
- $1.62B
- Net Income
- $1.31B+44.7%
- EPS
- $2.90+39.4%
- OCF Growth
- -17.4%
- FCF Growth
- -7.7%
- 52W High
- $10.36
- 52W Low
- $5.04
- 50D MA
- $5.50
- 200D MA
- $7.53
- Beta
- 0.96
- RSI (14)
- 45
- Avg Volume
- 5.73M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Inter posted its strongest quarter yet, with revenue up 32%, record net income of BRL 421 million, and ROE of 16.3% as it said it is now self-funded on capital.· August 6, 2026
- Revenue grew 32% year over year; NIM reached 10.1% for the first time and net income hit a record BRL 421 million.
- ROE rose to 16.3%, while the efficiency ratio improved to a record low of 42.1%.
- Total funding reached BRL 77.2 billion, up 24% year over year, and total assets crossed BRL 100 billion for the first time.
- Client engagement kept improving, with 45.3 million clients, 22 million daily log-ins on average, and 3.7 million new active clients added over 12 months.
- Management said private payroll delinquency is higher than planned, but remains economically attractive, with ROE around 30% and new fixes coming.
- The company highlighted first-time milestones in credit cards and capital generation, including over 2% market share in credit card TPV and capital neutrality beyond growth needs.
Inter reported second-quarter 2026 total net revenue growth of 32% year over year, NIM of 10.1%, net income of BRL 421 million, and ROE of 16.3%. The efficiency ratio improved to 42.1%, while total funding reached BRL 77.2 billion, up 24% year over year, and the expanded loan portfolio reached BRL 55.4 billion, up 29% year over year. On the client side, Inter ended with 45.3 million clients and 3.7 million new active clients added over the last 12 months. For guidance, management said it still expects about a 40 basis point increase in annual NIM versus the prior year, cost of risk around 6%, and continued growth around 30% or more over the next few years, while also saying the outlook for the rest of the year remains unchanged.
João Vitor said the quarter validated Inter’s long-term “Rule of 50” plan, arguing that the company is proving growth and profitability can rise together. He emphasized the “Inter by design” model: sustainable revenue growth, scalable distribution, and cost efficiency, all reinforced by a flywheel of more clients, more transactions, better data, and better products. He also stressed that Inter is widening its addressable market in both secured and unsecured credit while keeping discipline, and he described the business as moving from capital consumption to capital creation.
Santiago Stel focused on the financial mechanics behind the quarter: revenue grew 32%, NIM hit 10.1%, net income reached BRL 421 million, and ROE was 16.3%. He said NIM benefited from a timing effect tied to inflation-linked exposure, with roughly BRL 11 billion of exposure, about BRL 6 billion hedged, and a net long of around BRL 5 billion; he suggested adjusting this quarter by about 15 basis points and the prior quarter by 15 basis points in the other direction. He also noted funding of BRL 77.2 billion, deposits per active client of BRL 2,000.80, cost of funding at 66% of CDI, expenses up 19% versus revenue up 32%, and a record-low efficiency ratio of 42.1%. On capital, he said Inter is now generating more capital than it consumes, with EUR 2.3 billion in excess capital at the holding company and a Basel ratio of 19.3%.
Analysts pressed on whether the stronger NIM was partly temporary, and management said there was a timing effect from inflation-linked assets, but it still expects roughly 40 basis points of annual NIM expansion versus last year and sees the rest of the year as unchanged. Questions also focused on asset quality, where management said it is intentionally taking more risk in selected portfolios and still expects cost of risk around 6%, while private payroll delinquency is running above plan because maturity is taking longer than expected. On write-offs, management explained the move from 360 to 330 days for credit cards was a technical change aligned with best practices and should lower the overall 90-day NPL ratio by about 30 basis points without affecting cost of risk. On private payroll, management said relinkage, insurance launch, and other process fixes should improve credit quality, and it still believes the product can deliver around 30% marginal ROE.
The bull case from the call is that Inter appears to be scaling profitably rather than trading growth for returns. Management pointed to first-time milestones in revenue, NIM, net income, ROE, efficiency, and capital self-sufficiency, while saying client engagement and product penetration are still rising across cards, PIX, secured lending, and business accounts.
The main risks discussed were asset quality and execution in newer credit products, especially private payroll, where delinquency is taking longer to normalize than planned. Management also acknowledged that NIM contained a timing benefit from inflation-linked exposure, and that higher-risk growth, lower coverage at about 130% to 135%, and a changing Brazilian macro backdrop could create volatility in coming quarters.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 74.9%
- Shares Outstanding
- 441.48M
- Float Shares
- 330.64M
of shares held by institutions
123 13F filers
Congressional trading
Senate and House stock disclosures for INTR, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Richard BlumenthalSenate · CT | Buy | Jun 11, 25 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Martin Currie Ltd | 3.77M | ▲ 3.77M |
| Two Sigma Advisers, LP | 240.20K | ▼ 299.00K |
| Cubist Systematic Strategies, LLC | 161.51K | ▲ 125.14K |
| Point72 Asia (Singapore) Pte. Ltd. | 71.48K | ▲ 71.48K |
| Wolverine Trading, LLC | 15.29K | ▲ 15.29K |
| Shell Asset Management Co | 6.71K | ▼ 1.41K |
| Point72 (Difc) Ltd | 77 | ▼ 544 |
| Cwm, LLC | 76 | 0 |
Held by 73 ETFs
Biggest fund positions in INTR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| May 6, 26 | Maciel Andre Guilherme Cazzaniga | other | 0 |
| Apr 23, 26 | de Souza Maia Maria Fernanda Nazareth Teixeira | other | 0 |
| Apr 23, 26 | Prado Claudia Farkouh | other | 0 |
| Mar 16, 26 | Martins de Araujo Marco Antonio Filho | other | 60,184 |
| Mar 18, 26 | Riccio de Oliveira Alexandre | other | 0 |
| Mar 18, 26 | Riccio de Oliveira Alexandre | other | 82,736 |
| Feb 1, 25 | Riccio de Oliveira Alexandre | other | 72,000 |
| Dec 1, 26 | Riccio de Oliveira Alexandre | other | 72,000 |
| Mar 18, 26 | Nazareth Menin Teixeira de Souza Joao Vitor | other | 0 |
| Feb 1, 26 | Nazareth Menin Teixeira de Souza Joao Vitor | other | 134,520 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our INTR coverage
Recent articles, reports, and earnings notes.
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