XP jumps as investors reprice 2026 capital returns after strong Q4 results
XP Inc. shares are rising after its Feb. 12, 2026 results showed 2025 Q4 revenue up 8% year over year and net income up 15%, with EPS up 18%. Investor focus has also shifted to 2026 capital-return expectations following commentary that the company entered 2026 with an elevated capital base to be optimized through the year.
1) What’s driving XP higher today
XP Inc. (XP) is trading sharply higher as investors continue to digest the company’s latest reported operating momentum and its 2026 capital-return setup. In its fourth-quarter and full-year 2025 report (released Feb. 12, 2026), XP said assets under custody reached about R$1.5 trillion, revenue grew 8% year over year, and net income rose 15%, with EPS up 18%—a mix that tends to support multiple expansion when sentiment improves around earnings quality and capital deployment. (nasdaq.com)
2) Capital-return angle: why it matters for the tape
Beyond the quarterly print, traders have been increasingly sensitive to XP’s capital position and what it implies for buybacks/dividends. XP explicitly said it entered 2026 with a “temporarily elevated capital base” that it expects to optimize throughout the year—language that often gets interpreted as room for stepped-up shareholder returns if operating trends hold. (nasdaq.com)
3) What to watch next
The next major catalyst is the company’s next earnings update (market calendars cluster it in mid-to-late May 2026). Any reaffirmation or adjustment of 2026 expectations—along with updates on capital return execution—could determine whether today’s move becomes a sustained re-rating or a short-lived momentum burst. (chartmill.com)