COMP <GO>

XP vs HSBC // REVENUE GROWTH (YOY)

XP Inc. (NASDAQ) VS. HSBC Holdings plc. (NYSE) • 15-METRIC TALLY: XP 2 — HSBC 5

▲ REVENUE GROWTH (YOY) LEADER: HSBC

LAST: $14.29 (-5.05%) • MKT CAP: $7.80B

revenue-growth

-1.10%

LAST: $85.42 (-1.36%) • MKT CAP: $297.33B

revenue-growth

23.10%

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (XP VS. HSBC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	XP	HSBC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	9.90%	0.00	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	21.0x	21.0x	0.00	TIE	/valuation <GO>
Free Cash Flow Yield	2.21%	2.21%	0.00	TIE	/fcf-yield <GO>
Operating Margin	13.90%	13.90%	0.00	TIE	/operating-margins <GO>
Net Profit Margin	10.90%	10.90%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY) ACTIVE	-1.10%	23.10%	-24.20	HSBC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.74	3.74	0.00	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	8/9	-1.00	HSBC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.40%	6.60%	+0.80	HSBC	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	27.6	25.0	+2.56	XP	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.14	0.92	+0.22	XP	/macro-sensitivity <GO>
Forward P/E Multiple	30.5x	27.6x	+2.90	HSBC	/forward-pe <GO>
Enterprise Scale & Market Cap	$7.80B	$297.33B	-$289.53B	HSBC	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	XP REV	HSBC REV	XP GROSS %	HSBC GROSS %	XP FCF	HSBC FCF
INSPECT INDIVIDUAL XBRL MODELS AT XP FA <GO> AND HSBC FA <GO>.

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

XP // BETA 1.14

HSBC // BETA 0.92