Itaú Unibanco Holding S.A.

ITUB4.SA

Banks · Financial Services

Price

R$41.77

+0.36 (+0.87%)

Market Cap

R$490.48B

Exchange

B3 S.A.

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Sep 3, 2026 · filings through Jun 30, 2026

How the score breaks down

Growth

Good

Valuation

Strong

Dividends

Weak

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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 in Latin America. It offers everyday banking services like checking accounts, savings, credit cards, loans, insurance, and investment products. Its customers range from individual consumers to small businesses and large corporations.

The bank makes money primarily from the interest it charges on loans minus what it pays depositors, along with fees for services like asset management and insurance. It operates mainly in Brazil, with a presence in several other Latin American countries including Chile, Colombia, and Argentina. Its massive customer base and strong brand give it significant scale advantages in Brazil's banking market. Key growth opportunities include expanding digital banking and serving more of Brazil's underbanked population, though the company faces risks from economic volatility and rising loan defaults during downturns.

Growth Profile

For growth stock investors

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

Revenue Growth

-4.1% 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

Insiders own a meaningful stake in the company

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

Every number that matters to educated investors.

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Bank Quality

Not applicable for this business.

Growth

Sales growth

Sales YoY

+7.9%

Steady sales growth (+7.9% YoY)

Profit growth

EPS YoY

+2.7%

Flat earnings

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)

9.8x

Attractive valuation — P/E 9.8

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+0.8

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

0.52%

Small dividend — 0.52% yield

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

Dividend record

Dividend Growth

-82.5%

Dividend cut (-82.5% YoY) — warning sign

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