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Itaú Unibanco Holding S.A.

ITUB
60
Banks · Financial Services
Price
$9.44
-0.06 (-0.63%)
Market Cap
$104.05B
Exchange
New York Stock Exchange
Winston Score
60
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Bank Quality
Not counted
n/a
Growth
Good
12/20
Capital Strength
Not counted
n/a
Asset Quality
Not counted
n/a
Valuation
Strong
7/10
Ownership
Good
10/15
Dividends
Weak
1/5

30 of 50 counted points = Winston Score 60. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+13.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 9.83B (2021) → 11.19B (2025)

§Winston Score History

The full picture

Itaú Unibanco is the largest private bank in Brazil and one of the biggest banks in Latin America. It offers everyday banking services like checking accounts, savings accounts, credit cards, loans, and insurance to millions of individual customers and businesses. It also serves large corporations with investment banking and wealth management services.

The bank makes money by charging interest on loans, collecting fees for banking services, and earning premiums on insurance products. It operates mainly in Brazil but also has a presence in other Latin American countries, including Argentina, Chile, Colombia, and Uruguay. Its massive customer base of over 60 million clients and its deep brand recognition in Brazil give it a strong competitive position. The main risk the company faces is Brazil's economic volatility — when inflation rises or the economy slows, more borrowers struggle to repay loans, which can hurt the bank's profits.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+5.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

R$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

46.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

R$2.4T cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Itaú Unibanco Holding S.A.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Bank Quality

Not applicable for this business.

Growth

Sales growth
Sales YoY
+8.2%
Steady sales growth (+8.2% YoY)
Profit growth
EPS YoY
+5.5%
Modest earnings growth (+5.5% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit
P/E Ratio (TTM)
12.3x
Attractive valuation — P/E 12.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+2.5
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
0.39%
Small dividend — 0.39% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-83.2%
Dividend cut (-83.2% YoY) — warning sign
Payout Ratio
68%
no trend
Most of the profit goes out as dividends. Little left to reinvest, and less cushion if earnings dip.

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