Itaú Unibanco Holding S.A. (ITUB) Key Metrics
ITUB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Brazilian reaisITUB returns How much profit the business earns on the capital it uses.
ITUB financial health Debt, liquidity and how easily interest is covered.
ITUB efficiency & capital use Working capital cycle and where the cash goes.
ITUB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ITUB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ITUB cash returned to shareholders
ITUB key metrics in Brazilian reais
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 21.6% | 20.5% | 18.5% | 18.2% | 18.1% | 13.5% | 19.8% | 18.6% | 17.4% | 17.4% |
| Return on invested capital (ROIC) | 7.2% | 9.7% | 9.7% | 11.6% | 15.8% | 2.8% | 12.9% | 31.5% | — | 10.9% |
| Return on assets (ROA) | 1.5% | 1.5% | 1.4% | 1.3% | 1.3% | 1.0% | 1.7% | 1.7% | 1.7% | 1.6% |
| Return on tangible assets | 1.5% | 1.5% | 1.3% | 1.3% | 1.3% | 0.9% | 1.7% | 1.6% | 1.6% | 1.6% |
| Free cash flow margin | 33.3% | −30.1% | 22.3% | 48.0% | 26.6% | 31.2% | 16.4% | 11.6% | 2.7% | 13.5% |
| Income quality (OCF / net income) | 2.88 | −2.34 | 2.34 | 4.45 | 2.25 | 3.15 | 1.30 | 0.91 | 0.37 | 1.40 |
| Financial health | ||||||||||
| Total debt | R$1.01T | R$905.63B | R$814.62B | R$721.40B | R$574.07B | R$577.99B | R$544.15B | R$559.07B | R$536.18B | R$320.29B |
| Cash & short-term investments | R$427.12B | R$637.43B | R$615.43B | R$577.22B | R$517.40B | R$570.11B | R$458.04B | R$487.19B | R$713.61B | R$215.21B |
| Net debt | R$585.48B | R$268.20B | R$199.19B | R$144.19B | R$56.66B | R$7.88B | R$86.11B | R$71.89B | −R$177.44B | R$105.08B |
| Debt / equity | 4.95 | 4.29 | 4.28 | 4.30 | 3.76 | 4.04 | 3.97 | 4.09 | 4.08 | 2.38 |
| Debt / assets | 0.33 | 0.32 | 0.32 | 0.31 | 0.28 | 0.29 | 0.33 | 0.36 | 0.37 | 0.24 |
| Net debt / EBITDA | 10.16 | 4.97 | 4.39 | 3.48 | 1.22 | 0.88 | 2.47 | 2.10 | −5.26 | 2.70 |
| Current ratio | 0.35 | 0.44 | 0.47 | 0.49 | 0.47 | 0.52 | 0.57 | 0.61 | 0.89 | 9.70 |
| Quick ratio | 0.35 | 0.44 | 0.56 | 0.91 | 1.17 | 1.28 | 1.39 | 0.61 | 0.84 | 9.70 |
| Interest coverage | 0.2 | 0.3 | 0.3 | 0.3 | 0.6 | 0.1 | 0.4 | 0.4 | 0.4 | 0.4 |
| Working capital | −R$381.45B | −R$951.70B | −R$797.58B | −R$679.44B | −R$652.61B | −R$585.40B | −R$388.64B | −R$346.16B | −R$92.71B | R$838.16B |
| Invested capital | R$789.87B | R$479.29B | R$389.37B | R$311.90B | R$209.53B | R$150.87B | R$223.04B | R$208.67B | −R$46.06B | R$239.90B |
| Tangible asset value | R$190.88B | R$197.29B | R$175.69B | R$153.99B | R$143.37B | R$137.19B | R$129.75B | R$131.14B | R$124.97B | R$117.76B |
| Net current asset value | −R$2.66T | −R$1.89T | −R$1.62T | −R$1.48T | −R$1.32T | −R$1.23T | −R$969.00B | −R$861.26B | −R$566.82B | −R$283.88B |
| Capital allocation | ||||||||||
| Dividends paid | R$47.35B | R$21.31B | R$10.35B | R$6.71B | R$6.27B | R$11.55B | R$25.91B | R$20.09B | R$10.38B | R$7.67B |
| Share buybacks (net) | R$3.02B | R$1.77B | R$689.0M | R$0 | R$0 | R$0 | R$0 | R$510.0M | R$3.09B | R$947.0M |
| Dividend payout ratio | 105.6% | 51.9% | 31.3% | 23.0% | 23.4% | 61.1% | 95.6% | 80.7% | 44.8% | 35.5% |
| Dividends + buybacks / free cash flow | 39.3% | — | 16.2% | 5.5% | 12.3% | 21.3% | 83.8% | 103.8% | 266.9% | 30.5% |
| Capex / revenue | 0.3% | 0.6% | 3.0% | 3.4% | 4.7% | 3.1% | 2.3% | 1.7% | 2.0% | 1.0% |
| Capex / operating cash flow | 0.9% | — | 11.9% | 6.5% | 15.1% | 8.9% | 12.2% | 12.6% | 41.6% | 6.8% |
| Capex / depreciation | 0.16 | 0.28 | 1.63 | 1.77 | 2.15 | 1.42 | 1.21 | 0.80 | 1.13 | 0.64 |
| Stock-based compensation / revenue | 0.0% | 0.3% | 0.1% | 0.1% | −0.0% | 0.1% | −0.1% | −0.1% | 0.0% | 0.0% |
| SG&A / revenue | 15.1% | 17.1% | 16.9% | 19.9% | 24.5% | 38.4% | 24.2% | 24.9% | 22.8% | 19.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 49.7 | 110.2 | 104.1 | 104.3 | 117.4 | 119.4 | 104.0 | 66.2 | 17.9 | 10.1 |
| Days of inventory on hand | — | — | -666.5 | -1,787.9 | -3,913.6 | -3,097.6 | -1,433.8 | — | 68.1 | — |
| Days payables outstanding | — | — | 65.6 | 85.2 | 134.5 | 111.5 | 65.9 | 29.3 | 24.4 | 15.6 |
| Cash conversion cycle (days) | — | — | -628.0 | -1,768.8 | -3,930.6 | -3,089.7 | -1,395.7 | 118.0 | 61.7 | -5.5 |
| Receivables turnover | 7.35 | 3.31 | 3.51 | 3.50 | 3.11 | 3.06 | 3.51 | 5.51 | 20.35 | 36.23 |
| Payables turnover | — | — | 5.56 | 4.28 | 2.71 | 3.27 | 5.54 | 12.46 | 14.98 | 23.44 |
| Inventory turnover | — | — | — | — | — | — | — | — | 5.36 | — |
| Asset turnover | 0.13 | 0.12 | 0.13 | 0.12 | 0.09 | 0.09 | 0.12 | 0.11 | 0.13 | 0.16 |
| Average receivables | R$52.32B | R$98.38B | R$87.44B | R$72.33B | R$61.61B | R$56.79B | R$53.68B | R$30.96B | R$9.05B | R$5.79B |
| Average payables | — | — | R$34.12B | R$33.83B | R$30.69B | R$29.95B | R$17.01B | R$6.52B | R$6.46B | R$5.02B |
| Average inventory | — | — | −R$346.59B | −R$709.76B | −R$893.22B | −R$831.76B | −R$370.27B | R$18.04B | R$18.04B | R$0 |
| Intangibles / total assets | 0.8% | 0.8% | 0.9% | 1.0% | 1.0% | 0.9% | 1.2% | 1.2% | 1.3% | 1.3% |
Computed from ITUB's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Brazilian reais; data from EODHD. Averages use the opening and closing balance of each year.
ITUB valuation and financial ratios
Itaú Unibanco earned a return on equity of 21.6% and a return on invested capital of 7.2% in fiscal 2025. It ended the year with R$1.01 trillion of debt and R$427.1 billion in cash and short-term investments, net debt of R$585.5 billion. It returned R$50.4 billion to shareholders: R$47.4 billion in dividends and R$3.0 billion in share buybacks, 39% of free cash flow.
See the ITUB income statement, the ITUB chart for price history, or the ITUB stock overview for the latest quote and news.
ITUB key metrics FAQ
What is Itaú Unibanco's return on equity?
Itaú Unibanco's return on equity (ROE) was 21.6% in fiscal 2025: net income of R$44.9 billion on average shareholders' equity of R$207.7 billion.
What is Itaú Unibanco's ROIC?
Itaú Unibanco's return on invested capital was 7.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Itaú Unibanco have?
Itaú Unibanco had total debt of R$1.01 trillion at the end of fiscal 2025, a debt-to-equity ratio of 4.95 and R$585.5 billion of net debt (10.16 times EBITDA).
Does Itaú Unibanco buy back its shares?
Yes. Itaú Unibanco spent R$3.0 billion on net share repurchases in fiscal 2025.
What is Itaú Unibanco's current ratio?
Itaú Unibanco's current ratio was 0.35 at the end of fiscal 2025: current assets were 0.35 times current liabilities.