Inter & Company Incorporation Class A (INTR)
NASDAQ:INTR
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Inter & Company Incorporation Class A
(NASDAQ:INTR)
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Rating:62Neutral
Price Target:
$6.00
▼(-35.69% Downside)
Action:Reiterated
Date:05/12/26
The score is driven by improving fundamentals and a constructive earnings outlook (profitability/margin expansion and robust growth), supported by a reasonable P/E. These positives are materially offset by elevated balance-sheet leverage and clearly bearish technicals (price below key moving averages with negative MACD and weak RSI/Stoch), keeping the overall score in the low 60s.
Positive Factors
Large active customer base
A 44M customer base with ~60% activation creates durable distribution and low incremental CAC. High engagement supports multi-product cross-sell, recurring fee and deposit flows, and long-term monetization (rising ARPAC), underpinning scalable revenue and customer lifetime value over months to years.
Negative Factors
Elevated leverage
Debt-to-equity near 3.1 (up from ~1.3 earlier) raises structural funding and solvency risk. With operating cash flow small relative to debt (operating cash flow ≈15% of debt), higher leverage limits strategic flexibility, amplifies sensitivity to funding-cost shifts and constrains capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Large active customer base
A 44M customer base with ~60% activation creates durable distribution and low incremental CAC. High engagement supports multi-product cross-sell, recurring fee and deposit flows, and long-term monetization (rising ARPAC), underpinning scalable revenue and customer lifetime value over months to years.
Read all positive factors
Inter & Company Incorporation Class A Key Performance Indicators (KPIs)
Any
Active Clients
Number of clients actively using the company's products or services over a set period; a direct signal of adoption, recurring revenue potential, and customer retention. Growth in active clients points to expanding market traction, while declines or stagnation can indicate rising churn or product-market issues.
Number of clients actively using the company's products or services over a set period; a direct signal of adoption, recurring revenue potential, and customer retention. Growth in active clients points to expanding market traction, while declines or stagnation can indicate rising churn or product-market issues.
Data provided by:
The Fly
The FlyInter & Company Incorporation Class A (INTR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.54B
Dividend Yield0.97%
Average Volume (3M)7.71M
Price to Earnings (P/E)9.1
Beta (1Y)0.61
Revenue Growth50.00%
EPS Growth44.63%
CountryUS
Employees4,030
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.24
Shares Outstanding324,284,550
10 Day Avg. Volume5,111,302
30 Day Avg. Volume7,707,514
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)2.01
Price to Sales (P/S)1.40
P/FCF Ratio6.82
Enterprise Value/Market Cap13.90
Enterprise Value/Revenue2.24
Enterprise Value/Gross Profit5.45
Enterprise Value/Ebitda17.69
Forecast
1Y Price Target
$8.60Price Target Upside-7.82% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.8
Revenue Forecast (FY)$2.11B
Inter & Company Incorporation Class A Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
Inter & Co primarily makes money through a mix of (1) net interest income and (2) fee and service revenues, supported by (3) commerce/marketplace and other platform monetization. Net interest income is generated from the spread between interest ea...
Inter & Company Incorporation Class A Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call presented a strong set of operating and financial results: robust client growth (44M), large TPV (BRL 1.7tn run rate), rapid loan growth (>30% YoY), margin expansion (NIM +70 bps YoY) and record profitability metrics (net income BRL 395M, ROE 15.5%, RoTE 19.5%). These positives are tempered by near-term asset quality pressures (NPLs up to 5.1%), an expected higher cost of risk (~6% for the year) driven by an early-stage private payroll book and Q1 seasonality in funding, plus fee growth and efficiency still short of longer-term targets. Management frames the issues as expected and manageable (private payroll cohorts breakeven ~6 months; operational and collateral improvements planned) and emphasizes structural advantages (low, stable funding costs, digital distribution, AI-enabled product rollout). Overall, the highlights from growth, revenue, margins and product innovation materially outweigh the manageable near-term headwinds.Positive Updates
Large and Growing Client Base
Total clients reached 44 million with an activation rate near 60% (highest quarterly jump since 2024), indicating strong engagement while keeping customer acquisition costs deliberately low.
Negative Updates
Asset Quality Deterioration (NPL Increase)
NPLs increased from 4.7% to 5.1% quarter-over-quarter, reflecting macro pressures, seasonality in Q1, and the early-stage private payroll book contributing to higher delinquency.
Read all updates
Q1-2026 Updates
Positive
Negative
Large and Growing Client Base
Total clients reached 44 million with an activation rate near 60% (highest quarterly jump since 2024), indicating strong engagement while keeping customer acquisition costs deliberately low.
Read all positive updates
Company Guidance
Management's guidance emphasized continued margin expansion and disciplined risk take: they reiterated NIM should expand roughly 10–20 bps per quarter (NIM 2.0 was 9.54% in Q1, +70 bps YoY) with near‑term quarters closer to ~10 bps, while cost of risk is now expected closer to 6% for 2026; private‑payroll cohorts typically breakeven in about two quarters (~6 months) and should converge toward high‑single‑digit (possibly mid‑single‑digit) delinquency over time; loan growth is expected to remain robust (~30% YoY) as gross loans top BRL50bn (Q1: ~BRL50bn, +33% YoY; ex‑SME +37% YoY), with mortgages +42% YoY, home equity +43%, payroll & personal +38% and cards +27%; other targets include ongoing ARPAC expansion (net ARPAC BRL34, +9% YoY; margin per active client BRL21, +15% YoY), efficiency improvement (efficiency ratio improved to 43.8%, -170 bps QoQ), stable funding (funding BRL74bn, +25% YoY; cost of funding 64% of CDI) and translating this into profitability (Q1 net income BRL395m, ~BRL1.6bn run‑rate).Inter & Company Incorporation Class A Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
54
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.78B | 14.62B | 9.71B | 7.64B | 5.54B | 2.77B |
| Gross Profit | 6.47B | 6.20B | 4.60B | 3.21B | 2.48B | 1.63B |
| EBITDA | 1.99B | 1.93B | 1.41B | 600.28M | -14.60M | -172.72M |
| Net Income | 1.42B | 1.29B | 907.13M | 302.34M | -11.09M | -72.67M |
Balance Sheet | ||||||
| Total Assets | 97.86B | 98.56B | 76.46B | 60.35B | 46.34B | 36.63B |
| Cash, Cash Equivalents and Short-Term Investments | 9.63B | 11.00B | 27.76B | 20.51B | 15.55B | 16.05B |
| Total Debt | 31.19B | 29.63B | 11.86B | 9.33B | 8.29B | 4.71B |
| Total Liabilities | 87.57B | 88.17B | 67.39B | 52.76B | 39.25B | 28.18B |
| Stockholders Equity | 10.07B | 10.16B | 8.90B | 7.47B | 6.99B | 2.66B |
Cash Flow | ||||||
| Free Cash Flow | 3.04B | 3.00B | 3.25B | 7.27B | 1.82B | -196.34M |
| Operating Cash Flow | 3.25B | 3.11B | 3.76B | 7.54B | 2.10B | 91.64M |
| Investing Cash Flow | -9.83B | -14.47B | -7.73B | -4.67B | -50.81M | -7.18B |
| Financing Cash Flow | 9.33B | 13.87B | 683.04M | -38.68M | -1.22B | 5.43B |
Inter & Company Incorporation Class A Technical Analysis
Negative
9.33
Price Trends
6.97
Negative
7.81
Negative
8.26
Negative
Market Momentum
-0.35
Negative
38.79
Neutral
27.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INTR, the sentiment is Negative. The current price of 9.33 is above the 20-day moving average (MA) of 5.96, above the 50-day MA of 6.97, and above the 200-day MA of 8.26, indicating a bearish trend. The MACD of -0.35 indicates Negative momentum. The RSI at 38.79 is Neutral, neither overbought nor oversold. The STOCH value of 27.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INTR.
Inter & Company Incorporation Class A Risk Analysis
Inter & Company Incorporation Class A disclosed 73 risk factors in its most recent earnings report. Inter & Company Incorporation Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Inter & Company Incorporation Class A Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $4.15B | 12.24 | 9.41% | 3.02% | 4.20% | 29.58% | |
77 Outperform | $4.43B | 12.80 | 9.93% | ― | 3.26% | 329.26% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $4.80B | 12.42 | 9.21% | 2.72% | 62.22% | ― | |
64 Neutral | $4.74B | 50.72 | 4.89% | 8.04% | 5.52% | 13.99% | |
62 Neutral | $2.54B | 9.09 | 14.48% | 0.97% | 50.00% | 44.63% | |
60 Neutral | $6.35B | 13.45 | 9.35% | 3.03% | 6.14% | 29.21% |
* Financial Sector Average
INTR
Inter & Company Incorporation Class A
5.77
-1.65
-22.20%
TCBI
Texas Capital Bancshares
101.51
26.12
34.65%
TFSL
TFS Financial
16.92
5.21
44.48%
UCB
United Community Banks
34.63
7.39
27.12%
AVAL
Grupo Aval Acciones y Valores SA Pfd
5.55
2.79
100.87%
EBC
Eastern Bankshares
20.75
6.61
46.69%
Inter & Company Incorporation Class A Corporate Events
Inter & Co’s Banco Inter Wins Florida License for New Miami Branch
Jun 5, 2026
On June 5, 2026, Inter Co, Inc. announced that its subsidiary Banco Inter S.A. has secured a license from the Florida Office of Financial Regulation to launch and operate a state-licensed branch in Miami. This follows prior approvals from the Fed...
Inter & Co Discloses Squadra Investimentos Building 10.07% Stake in Class A Shares
May 22, 2026
On May 22, 2026, Inter Co disclosed that asset manager Squadra Investimentos has accumulated 32,806,391 securities, representing 10.07% of the company’s Class A common shares through a combination of Brazilian depositary receipts and direct...
Inter & Co Showcases Three-Year Gains and Owners’ Day 2026 Strategy
May 11, 2026
Inter Co held its 2026 Owners’ Day event on May 8, 2026, and reported strong progress over the past three years toward its long-term “60/30/30” financial targets, with growing client numbers, improving efficiency and advancing r...
Inter & Co Posts Strong 1Q26 Results and Debuts AI Tool as Profit and Loan Growth Accelerate
May 7, 2026
In the first quarter of 2026, Inter Co reported strong operational and financial performance, with net income rising to R$395 million and return on equity improving to 15.5%, supported by a 33% year-on-year expansion of its gross loan portfolio a...
Inter & Co Posts Double-Digit Profit and Revenue Growth in Q1 2026
May 7, 2026
Inter Co, Inc., the Cayman Islands holding company behind Banco Inter, operates a digital financial and e-commerce ecosystem via a super app that combines banking, credit, investments, insurance, cross-border services and an online marketplace se...
Inter & Co Reappoints Board and Updates Governance Charter at 2026 AGM
Apr 29, 2026
Inter Co, Inc. held its 2026 Annual General Meeting on April 29, 2026, where shareholders approved the company’s financial statements and independent auditor’s report for the fiscal year ended December 31, 2025. They also ratified an ...
Inter & Co’s Banco Inter Raises R$300 Million via Perpetual Subordinated Notes
Apr 8, 2026
Inter Co, Inc., through its subsidiary Banco Inter S.A., announced that Banco Inter issued subordinated financial bills in Brazil on April 8, 2026, targeting professional investors. The issuance consists of perpetual Tier I notes totaling R$300 m...
Inter & Co Calls April 29 AGM, Seeks Board Reappointments and Governance Changes
Mar 27, 2026
Inter Co, Inc. has called its 2026 Annual General Meeting for April 29, 2026, to be held virtually and at its Belo Horizonte offices, setting March 23, 2026 as the record date for shareholders entitled to participate. The agenda includes approval...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.