FinVolution Group vs Nu Holdings Ltd., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither line shows growth directly, but the multiples assign it all to one side: Nu at 32 times earnings against FinVolution's 17.8, the market paying double per dollar for Latin American expansion over Chinese maturity. The current economics barely justify a spread: net margins of 17.1% and 18.7% nearly tie, FinVolution ahead; returns on assets, 10% against 4%, FinVolution well ahead. Nu's edge is return on equity, 25.8% against 15.1%, and the story, tens of millions of customers still arriving. Both are debt-free. Same business shape, smartphone-first consumer finance in emerging markets; fourteen turns of multiple separate the geography the market wants from the one it merely tolerates.
Comparison updated 2026-07-10.
| Metric | FINV | NU |
|---|---|---|
| Price | $4.80 | $13.15 |
| Market cap | $6.4B | $63.0B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | 17.8 | 32.0 |
| P/B | 2.66 | 8.24 |
| P/S | 3.30 | 5.47 |
| EV/EBITDA | 613.1 | — |
| Revenue growth | +200.0% | +105.9% |
| Gross margin | — | 45.6% |
| Net margin | 18.7% | 17.1% |
| Return on equity | 15.1% | 25.8% |
| Return on assets | 10.0% | 4.0% |
| Debt / equity | 0.02 | 0.00 |
| Altman Z (solvency) | 4.33 | 1.12 |
| Piotroski F (quality) | 6 / 9 | 9 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.