Nu Holdings Ltd. vs Qfin Holdings, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in: Nu at 32 times earnings assumes Latin American digital banking compounds for a decade; Qfin at 5 times assumes Chinese credit-tech erodes despite currently out-earning nearly everything in the sector, a 31.1% net margin against Nu's 17.1%, a 36% free-cash yield against 3.8%. Returns on assets favor Qfin, 10.5% against 4%; returns on equity favor Nu narrowly, 25.8% against 24.7%. Both are debt-free. The 27-turn spread is pure geography: two emerging-market fintechs, one in the hemisphere the market romances, the other in the one it audits. On these pages the romance costs about six Qfins per Nu.
Comparison updated 2026-07-10.
| Metric | NU | QFIN |
|---|---|---|
| Price | $13.15 | $15.82 |
| Market cap | $63.0B | $4.3B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Mature |
| P/E | 32.0 | 5.0 |
| P/B | 8.24 | 1.25 |
| P/S | 5.47 | 1.57 |
| EV/EBITDA | — | 3.8 |
| Revenue growth | +105.9% | +1.7% |
| Gross margin | 45.6% | — |
| Operating margin | — | 34.8% |
| Net margin | 17.1% | 31.1% |
| Return on equity | 25.8% | 24.7% |
| Return on assets | 4.0% | 10.5% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | — | 2.43 |
| Altman Z (solvency) | 1.12 | 2.49 |
| Piotroski F (quality) | 9 / 9 | 6 / 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.