IT
Itau Unibanco Holding SA
ITUB—
Itau Unibanco Holding SA AI Insights
Informational only. Not investment advice.Snapshot
- P/E of 1.9x and P/B of 0.43x with 21% ROE TTM - trading at extreme discount despite strong profitability[PE Ratio]
- Dividend yield ~69% (5.06 DPS vs 7.37 share price implied) - payout exceeds earnings, unsustainable[Dividends Paid Per Share TTM]
- FCF of 65.9B BRL (TTM) covers 80% of market cap - exceptional cash generation relative to valuation[Free Cash Flow TTM]
Watch Triggers
- Net Margin TTM: Falls below 20% — Current 27% margin drives ROE; compression signals competitive/macro pressure
- Dividends Paid Per Share TTM: Cut announced or payout ratio normalized — Current payout exceeds earnings - cut would remove key holder incentive
- ROE TTM: Drops below 15% — At 0.43x P/B, ROE decline destroys value creation thesis
Bull Case
Trading at 0.43x book with 21% ROE - if ROE sustains, implies 49% annual return at current P/B. FCF of 65.9B covers entire market cap in 1.3 years.
PB RatioROE TTMFree Cash Flow TTM
5Y EPS CAGR of 18.6% with revenue CAGR of 11.7% demonstrates consistent earnings leverage. Net margin 27% shows pricing power.
EPS Growth 5YTotal Revenue 5Y GrowthNet Margin TTM
Bear Case
Interest expense (218B) is 3x interest income (71B) - spread compression risk if rates normalize. ROIC only 6.1% vs 21% ROE signals leverage dependency.
Interest Expense TTMInterest IncomeROIC TTM
Dividend payout (5.06/share) exceeds EPS (3.94) by 28% - mathematically unsustainable without capital erosion or cut.
Dividends Paid Per Share TTMEPS TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Valuation gap likely to persist due to Brazil macro risk despite strong fundamentals
1-3ymed
- EM bank discount reflects currency/political risk premium
- 2.45x debt/equity typical for banks but limits rerating
- Interest expense 218B vs 71B interest income shows NIM pressure
P/E 1.9x vs book value 19.81/shareROE 21% TTM with 27% net marginRevenue growth 11% 1Y but EPS growth only 6.5%
Valuation Context
Caveats
Public Strategies Rankings
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ITUB Fundamentals
Unknown Industry
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$82.46B | — | ||
$344.49B | — | ||
1.9 | — | ||
$163.14B | +4.2% | — | |
$3.94 | +4.0% | — | |
0% | — | ||
26.8% | +1.9% | — | |
$65.92B | — | ||
0.21 | +0.8% | — | |
Beta 5Y (Monthly) | unknown | — |
ITUB Dividend History
338 dividends
2026
$0.038812/02/26$0.0032
11/04/26$0.0032
10/02/26$0.0032
09/02/26$0.0032
08/04/26$0.0032
07/02/26$0.0032
06/02/26$0.0033
05/05/26$0.0033
04/02/26$0.0033
03/03/26$0.0033
02/03/26$0.0033
01/05/26$0.0033
2025
$0.456012/11/25$0.4195
12/02/25$0.0032
11/04/25$0.0032
10/02/25$0.0032
09/02/25$0.0032
08/04/25$0.0032
07/02/25$0.0030
06/03/25$0.0031
05/05/25$0.0030
04/02/25$0.0030
03/04/25$0.0030
02/04/25$0.0027
01/02/25$0.0026
2024
$0.401712/11/24$0.0502
12/02/24$0.0025
11/12/24$0.0026
10/02/24$0.0028
09/23/24$0.0416
09/03/24$0.0028
08/02/24$0.0028
07/02/24$0.0029
06/24/24$0.0390
06/04/24$0.0028
05/02/24$0.0031
03/28/24$0.0031
03/22/24$0.0375
03/08/24$0.0063
02/22/24$0.1987
02/01/24$0.0031
2023
$0.174512/29/23$0.0031
12/07/23$0.0445
12/01/23$0.0032
11/01/23$0.0032
10/02/23$0.0031
09/01/23$0.0032
08/01/23$0.0032
07/03/23$0.0032
06/20/23$0.0481
06/01/23$0.0033
05/02/23$0.0031
04/03/23$0.0030
03/24/23$0.0442
03/01/23$0.0030
02/01/23$0.0030
2022
$0.173312/30/22$0.0030
12/09/22$0.0810
12/01/22$0.0029
11/01/22$0.0030
10/03/22$0.0030
09/01/22$0.0030
08/19/22$0.0528
08/01/22$0.0029
07/01/22$0.0032
06/01/22$0.0029
05/02/22$0.0032
04/01/22$0.0031
02/28/22$0.0033
02/01/22$0.0030
01/03/22$0.0029
2021
$0.150012/01/21$0.0028
11/22/21$0.0462
11/01/21$0.0024
10/01/21$0.0023
09/01/21$0.0024
08/16/21$0.0175
08/02/21$0.0025
07/01/21$0.0026
06/01/21$0.0026
05/25/21$0.0082
05/03/21$0.0026
04/28/21$0.0090
04/01/21$0.0023
03/26/21$0.0079
03/01/21$0.0023
02/26/21$0.0232
02/01/21$0.0024
01/25/21$0.0084
01/04/21$0.0024
2020
$0.148012/11/20$0.0101
12/01/20$0.0024
11/02/20$0.0025
10/01/20$0.0023
09/01/20$0.0025
08/18/20$0.0084
08/03/20$0.0025
07/01/20$0.0025
06/01/20$0.0025
05/01/20$0.0025
04/01/20$0.0024
03/02/20$0.0025
02/25/20$0.0989
02/07/20$0.0029
01/02/20$0.0031
2019
$0.275112/02/19$0.0032
11/01/19$0.0031
10/01/19$0.0033
09/03/19$0.0032
08/01/19$0.0032
07/01/19$0.0034
06/03/19$0.0035
05/02/19$0.0034
04/01/19$0.0033
02/22/19$0.2384
02/01/19$0.0035
01/02/19$0.0036
2018
$0.438912/18/18$0.0024
12/03/18$0.0034
11/01/18$0.0034
10/01/18$0.0024
09/04/18$0.0022
08/01/18$0.0021
07/02/18$0.0023
06/01/18$0.0023
05/02/18$0.0023
04/02/18$0.0025
02/16/18$0.4080
02/01/18$0.0027
01/02/18$0.0028
2017
$0.278712/15/17$0.0263
12/01/17$0.0027
11/01/17$0.0027
10/02/17$0.0027
09/01/17$0.0028
08/15/17$0.0743
08/01/17$0.0028
07/03/17$0.0028
06/01/17$0.0027
05/02/17$0.0027
04/03/17$0.0028
03/01/17$0.0028
02/21/17$0.1449
02/01/17$0.0028
01/03/17$0.0028
2016
$0.270112/23/16$0.0881
12/01/16$0.0027
11/01/16$0.0025
10/03/16$0.0024
09/01/16$0.0025
08/15/16$0.0659
08/01/16$0.0025
07/06/16$0.0025
06/01/16$0.0025
05/02/16$0.0022
04/01/16$0.0023
03/01/16$0.0023
02/19/16$0.0878
02/01/16$0.0020
01/04/16$0.0020
2015
$0.313612/10/15$0.0292
12/01/15$0.0020
11/03/15$0.0021
10/01/15$0.0021
09/01/15$0.0020
08/13/15$0.0533
08/03/15$0.0022
06/30/15$0.0023
06/01/15$0.0023
05/01/15$0.0023
03/31/15$0.0024
03/02/15$0.0026
02/11/15$0.2037
02/02/15$0.0025
01/02/15$0.0027
2014
$0.203812/01/14$0.0027
11/03/14$0.0028
10/01/14$0.0029
08/29/14$0.0029
08/14/14$0.0692
08/01/14$0.0033
07/01/14$0.0032
06/02/14$0.0033
05/02/14$0.0032
04/01/14$0.0028
03/03/14$0.0029
02/19/14$0.0989
02/03/14$0.0028
01/02/14$0.0027
2013
$0.189812/23/13$0.0386
12/02/13$0.0028
11/01/13$0.0028
10/01/13$0.0029
08/30/13$0.0030
08/07/13$0.0539
08/01/13$0.0028
07/01/13$0.0029
06/03/13$0.0030
05/01/13$0.0034
04/01/13$0.0030
03/06/13$0.0617
03/01/13$0.0030
02/01/13$0.0030
01/02/13$0.0030
2012
$0.242912/26/12$0.0634
12/03/12$0.0029
11/01/12$0.0028
10/01/12$0.0030
08/31/12$0.0030
08/02/12$0.0550
08/01/12$0.0030
07/02/12$0.0029
06/01/12$0.0030
05/02/12$0.0030
04/02/12$0.0031
03/01/12$0.0951
02/01/12$0.0028
2011
$0.316212/30/11$0.0028
12/29/11$0.0635
12/01/11$0.0026
11/01/11$0.0054
10/03/11$0.0056
08/31/11$0.0025
08/11/11$0.0677
08/01/11$0.0031
07/01/11$0.0031
06/01/11$0.0031
05/02/11$0.0030
04/01/11$0.0030
03/09/11$0.0909
03/01/11$0.0030
02/01/11$0.0029
01/03/11$0.0541
2010
$0.179012/01/10$0.0028
11/01/10$0.0028
10/01/10$0.0028
09/01/10$0.0029
08/11/10$0.0437
08/02/10$0.0027
07/01/10$0.0027
06/01/10$0.0027
05/03/10$0.0026
04/01/10$0.0027
03/01/10$0.0027
02/22/10$0.0689
02/01/10$0.0027
01/04/10$0.0362
2009
$0.813812/01/09$0.0028
11/03/09$0.0028
10/01/09$0.0027
09/01/09$0.0027
08/24/09$0.0318
08/03/09$0.0025
07/01/09$0.0026
06/01/09$0.0025
05/04/09$0.0061
04/01/09$0.0056
03/10/09$0.5256
03/02/09$0.0052
02/02/09$0.0342
01/02/09$0.1867
2008
$0.604212/01/08$0.0056
11/24/08$0.1430
11/03/08$0.0056
10/01/08$0.0060
09/02/08$0.0067
08/18/08$0.0895
08/01/08$0.0079
07/01/08$0.0084
06/02/08$0.0128
05/02/08$0.0066
04/01/08$0.0053
03/04/08$0.0049
02/25/08$0.2917
02/01/08$0.0052
01/02/08$0.0049
2007
$0.386511/01/07$0.0048
10/01/07$0.0199
09/04/07$0.0189
08/20/07$0.0643
08/01/07$0.0047
07/02/07$0.0046
06/01/07$0.0045
05/02/07$0.0045
04/02/07$0.0043
03/01/07$0.2478
02/01/07$0.0041
01/03/07$0.0041
2006
$0.035712/01/06$0.0041
11/01/06$0.0040
10/02/06$0.0041
09/01/06$0.0040
07/03/06$0.0040
06/01/06$0.0040
05/02/06$0.0041
04/03/06$0.0041
02/01/06$0.0034
2005
$0.052712/01/05$0.0035
11/01/05$0.0034
10/03/05$0.0165
09/01/05$0.0164
07/01/05$0.0032
06/01/05$0.0031
05/02/05$0.0024
04/01/05$0.0023
02/01/05$0.0019
2004
$0.014912/01/04$0.0020
11/01/04$0.0019
10/01/04$0.0018
09/01/04$0.0018
07/01/04$0.0017
06/01/04$0.0017
05/03/04$0.0013
04/01/04$0.0013
01/28/04$0.0014
2003
$0.135012/26/03$0.1223
11/25/03$0.0014
10/29/03$0.0014
09/26/03$0.0014
07/29/03$0.0014
06/26/03$0.0026
05/28/03$0.0013
04/30/03$0.0013
02/26/03$0.0009
01/29/03$0.0011
2002
$0.039811/26/02$0.0009
10/29/02$0.0008
09/26/02$0.0014
07/29/02$0.0010
06/26/02$0.0009
05/29/02$0.0011
04/26/02$0.0012
03/26/02$0.0013
03/12/02$0.0302
02/26/02$0.0011
2001
$0.261812/24/01$0.2483
10/29/01$0.0069
09/26/01$0.0066
ITUB Stock Splits
10 stock splits
12/29/25100:103 split
03/19/2510:11 split
11/28/182:3 split
10/18/16100:110 split
07/14/15100:110 split
06/06/141:1.1 split
05/21/130.909091:1 split
06/10/084:5 split
10/09/070.5:1 split
10/07/050.2:1 split
ITUB SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/06/25 | 09/30/25 | 6-K | |
08/06/25 | 06/30/25 | 6-K | |
05/09/25 | 03/31/25 | 6-K | |
04/28/25 | 12/31/24 | 20-F | |
11/04/24 | 09/30/24 | 6-K | |
08/07/24 | 06/30/24 | 6-K | |
05/08/24 | 03/31/24 | 6-K | |
04/29/24 | 12/31/23 | 20-F | |
11/22/23 | 09/30/23 | 6-K | |
08/23/23 | 06/30/23 | 6-K | |
05/25/23 | 03/31/23 | 6-K | |
04/28/23 | 12/31/22 | 20-F | |
11/28/22 | 09/30/22 | 6-K | |
08/09/22 | 06/30/22 | 6-K | |
05/10/22 | 03/31/22 | 6-K | |
04/28/22 | 12/31/21 | 20-F | |
11/04/21 | 09/30/21 | 6-K | |
08/03/21 | 06/30/21 | 6-K | |
05/04/21 | 03/31/21 | 6-K | |
04/30/21 | 12/31/20 | 20-F | |
11/04/20 | 09/30/20 | 6-K | |
08/04/20 | 06/30/20 | 6-K | |
05/05/20 | 03/31/20 | 6-K | |
04/27/20 | 12/31/19 | 20-F | |
11/05/19 | 09/30/19 | 6-K | |
07/30/19 | 06/30/19 | 6-K | |
05/03/19 | 03/31/19 | 6-K | |
04/30/19 | 12/31/18 | 20-F | |
11/05/18 | 09/30/18 | 6-K | |
08/06/18 | 06/30/18 | 6-K | |
05/07/18 | 03/31/18 | 6-K | |
04/20/18 | 12/31/17 | 20-F | |
11/06/17 | 09/30/17 | 6-K | |
08/09/17 | 06/30/17 | 6-K | |
05/09/17 | 03/31/17 | 6-K | |
04/20/17 | 12/31/16 | 20-F | |
11/04/16 | 09/30/16 | 6-K | |
08/08/16 | 06/30/16 | 6-K | |
05/09/16 | 03/31/16 | 6-K | |
04/29/16 | 12/31/15 | 20-F | |
11/09/15 | 09/30/15 | 6-K | |
08/06/15 | 06/30/15 | 6-K | |
05/11/15 | 03/31/15 | 6-K | |
04/03/15 | 12/31/14 | 20-F | |
11/07/14 | 09/30/14 | 6-K | |
08/07/14 | 06/30/14 | 6-K | |
05/02/14 | 03/31/14 | 6-K | |
04/02/14 | 12/31/13 | 20-F | |
11/05/13 | 09/30/13 | 6-K | |
08/06/13 | 06/30/13 | 6-K | |
05/10/13 | 03/31/13 | 6-K | |
04/29/13 | 12/31/12 | 20-F | |
11/01/12 | 09/30/12 | 6-K | |
08/09/12 | 06/30/12 | 6-K | |
05/10/12 | 03/31/12 | 6-K | |
03/30/12 | 12/31/11 | 20-F | |
11/03/11 | 09/30/11 | 6-K | |
08/05/11 | 06/30/11 | 6-K | |
05/09/11 | 03/31/11 | 6-K | |
06/27/11 | 12/31/10 | 20-F | |
12/07/10 | 09/30/10 | 6-K | |
09/30/10 | 06/30/10 | 6-K | |
05/06/10 | 03/31/10 | 6-K | |
07/13/11 | 12/31/09 | 20-F/A | |
05/10/10 | 12/31/09 | 20-F | |
11/09/09 | 09/30/09 | 6-K | |
01/19/10 | 06/30/09 | MS10-Q | -- |
05/11/09 | 03/31/09 | 6-K | |
05/17/10 | 12/31/08 | 20-F/A | |
06/30/09 | 12/31/08 | 20-F | |
09/30/08 | 09/30/08 | Unknown | -- |
06/30/08 | 06/30/08 | Unknown | -- |
03/31/08 | 03/31/08 | Unknown | -- |
06/30/08 | 12/31/07 | 20-F | |
09/30/07 | 09/30/07 | 6-K | |
06/30/07 | 06/30/07 | Unknown | -- |
03/31/07 | 03/31/07 | Unknown | -- |
07/02/07 | 12/31/06 | 20-F | |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | 6-K | |
03/31/06 | 03/31/06 | Unknown | -- |
06/08/06 | 12/31/05 | 20-F | |
09/30/05 | 09/30/05 | Unknown | -- |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/31/05 | Unknown | -- |
06/30/05 | 12/31/04 | 20-F | |
09/30/04 | 09/30/04 | 6-K | |
06/30/04 | 06/30/04 | Unknown | -- |
03/31/04 | 03/31/04 | 6-K | |
06/30/04 | 12/31/03 | 6-K | |
09/30/03 | 09/30/03 | 6-K | |
06/30/03 | 06/30/03 | 20-F | |
03/31/03 | 03/31/03 | 6-K | |
12/31/02 | 12/31/02 | 6-K | |
09/30/02 | 09/30/02 | 6-K | |
06/30/02 | 06/30/02 | Unknown | -- |
03/31/02 | 03/31/02 | Unknown | -- |
07/01/02 | 12/31/01 | 20-F | |
09/30/01 | 09/30/01 | Unknown | -- |
06/30/01 | 06/30/01 | Unknown | -- |
03/31/01 | 03/31/01 | Unknown | -- |