How stable is NU's operating profit margin?

Nu Holdings' operating margin has shown a general upward trend over the past few years, with some fluctuations. As of the end of 2024, the company's operating margin stood at 24.27%.

1. **Improvement Trend**: The operating margin has improved significantly since 2022, where it was 17.1%. This indicates a strengthening profitability trend for the company.
2. **Consistency**: The company has maintained a relatively consistent operating margin over the past two years, which is a positive sign for its stability.
3. **Historical Performance**: Historical data shows that Nu Holdings' operating margin has been negatively impacted in certain periods, such as a 10.40% decline in 2022. However, it has been able to recover and improve consistently since then.
4. **Market Position**: The company's dominant market position in Latin America, especially in Brazil, Mexico, and Colombia, provides a stable customer base and revenue stream, which helps maintain operating margin stability.

In conclusion, while there have been some fluctuations, Nu Holdings' operating margin has shown a general upward trajectory and the company's strong market position and growth prospects suggest that it is relatively stable.