{"id":320600,"date":"2025-07-22T17:23:08","date_gmt":"2025-07-22T17:23:08","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/nubank-stocks-worth-it-2\/"},"modified":"2025-07-22T17:23:08","modified_gmt":"2025-07-22T17:23:08","slug":"nubank-stocks-worth-it","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/nubank-stocks-worth-it\/","title":{"rendered":"C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 v\u00e0o n\u0103m 2025 kh\u00f4ng? Ph\u00e2n t\u00edch ho\u00e0n ch\u1ec9nh cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":251247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20],"tags":[46,28,45,44],"class_list":["post-320600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading","tag-how","tag-investment","tag-stock","tag-strategy"],"acf":{"h1":"Pocket Option Tr\u00ecnh B\u00e0y: C\u1ed5 Phi\u1ebfu Nubank C\u00f3 \u0110\u00e1ng Gi\u00e1 V\u00e0o N\u0103m 2025 Kh\u00f4ng?","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option Tr\u00ecnh B\u00e0y: C\u1ed5 Phi\u1ebfu Nubank C\u00f3 \u0110\u00e1ng Gi\u00e1 V\u00e0o N\u0103m 2025 Kh\u00f4ng?"},"description":"C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng \u0111\u1ec3 th\u00eam v\u00e0o danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n kh\u00f4ng? Kh\u00e1m ph\u00e1 ngay ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n c\u1ee7a ch\u00fang t\u00f4i v\u1ec1 kh\u1ea3 n\u0103ng sinh l\u1eddi, r\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng v\u1edbi Pocket Option.","description_source":{"label":"Description","type":"textarea","formatted_value":"C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng \u0111\u1ec3 th\u00eam v\u00e0o danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n kh\u00f4ng? Kh\u00e1m ph\u00e1 ngay ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n c\u1ee7a ch\u00fang t\u00f4i v\u1ec1 kh\u1ea3 n\u0103ng sinh l\u1eddi, r\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng v\u1edbi Pocket Option."},"intro":"Nubank \u0111\u00e3 c\u00e1ch m\u1ea1ng h\u00f3a ng\u00e0nh ng\u00e2n h\u00e0ng Brazil v\u1edbi \u0111\u1ec1 xu\u1ea5t k\u1ef9 thu\u1eadt s\u1ed1 \u0111\u1ed9t ph\u00e1 c\u1ee7a m\u00ecnh, t\u0103ng gi\u00e1 tr\u1ecb h\u01a1n 200% k\u1ec3 t\u1eeb khi IPO v\u00e0o n\u0103m 2021. Trong ph\u00e2n t\u00edch chuy\u00ean s\u00e2u n\u00e0y, ch\u00fang t\u00f4i xem x\u00e9t li\u1ec7u c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 cho c\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau v\u00e0o n\u0103m 2025 hay kh\u00f4ng, xem x\u00e9t c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh hi\u1ec7n t\u1ea1i, tri\u1ec3n v\u1ecdng m\u1edf r\u1ed9ng v\u00e0 so s\u00e1nh tr\u1ef1c ti\u1ebfp v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh t\u1eeb c\u1ea3 hai l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng v\u00e0 k\u1ef9 thu\u1eadt s\u1ed1.","intro_source":{"label":"Intro","type":"text","formatted_value":"Nubank \u0111\u00e3 c\u00e1ch m\u1ea1ng h\u00f3a ng\u00e0nh ng\u00e2n h\u00e0ng Brazil v\u1edbi \u0111\u1ec1 xu\u1ea5t k\u1ef9 thu\u1eadt s\u1ed1 \u0111\u1ed9t ph\u00e1 c\u1ee7a m\u00ecnh, t\u0103ng gi\u00e1 tr\u1ecb h\u01a1n 200% k\u1ec3 t\u1eeb khi IPO v\u00e0o n\u0103m 2021. Trong ph\u00e2n t\u00edch chuy\u00ean s\u00e2u n\u00e0y, ch\u00fang t\u00f4i xem x\u00e9t li\u1ec7u c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 cho c\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau v\u00e0o n\u0103m 2025 hay kh\u00f4ng, xem x\u00e9t c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh hi\u1ec7n t\u1ea1i, tri\u1ec3n v\u1ecdng m\u1edf r\u1ed9ng v\u00e0 so s\u00e1nh tr\u1ef1c ti\u1ebfp v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh t\u1eeb c\u1ea3 hai l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng v\u00e0 k\u1ef9 thu\u1eadt s\u1ed1."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Hi\u1ec7n t\u01b0\u1ee3ng Nubank tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nubank \u0111\u00e3 c\u00e1ch m\u1ea1ng h\u00f3a c\u1ea3nh quan ng\u00e2n h\u00e0ng Brazil t\u1eeb n\u0103m 2013, ph\u00e1t tri\u1ec3n t\u1eeb m\u1ed9t c\u00f4ng ty kh\u1edfi nghi\u1ec7p th\u1ebb t\u00edn d\u1ee5ng th\u00e0nh t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh k\u1ef9 thu\u1eadt s\u1ed1 l\u1edbn nh\u1ea5t \u1edf M\u1ef9 Latinh, v\u1edbi gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng 35 t\u1ef7 USD v\u00e0o n\u0103m 2025. Khi ph\u00e2n t\u00edch li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i hi\u1ec3u c\u00e1ch c\u00f4ng ty \u0111\u00e3 thu h\u00fat h\u01a1n 100 tri\u1ec7u kh\u00e1ch h\u00e0ng trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng l\u1ecbch s\u1eed b\u1ecb chi ph\u1ed1i b\u1edfi n\u0103m ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng l\u1edbn.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nu Holdings (NU) ra m\u1eaft tr\u00ean NYSE v\u00e0o th\u00e1ng 12 n\u0103m 2021 v\u1edbi gi\u00e1 kh\u1edfi \u0111i\u1ec3m 9 USD m\u1ed7i c\u1ed5 phi\u1ebfu, \u0111\u1ecbnh gi\u00e1 c\u00f4ng ty \u1edf m\u1ee9c 41 t\u1ef7 USD. Sau c\u00e1c giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng, bao g\u1ed3m gi\u1ea3m 60% v\u00e0o n\u0103m 2022 v\u00e0 ph\u1ee5c h\u1ed3i \u0111\u00e1ng k\u1ec3 v\u00e0o n\u0103m 2023-2024, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1eb7t c\u00e2u h\u1ecfi li\u1ec7u&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>, \u0111\u1eb7c bi\u1ec7t khi xem x\u00e9t h\u1ec7 s\u1ed1 P\/E hi\u1ec7n t\u1ea1i l\u00e0 28.5, cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>C\u1ed9t m\u1ed1c l\u1ecbch s\u1eed<\/th><th>Ng\u00e0y<\/th><th>T\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 tr\u1ecb<\/th><\/tr><\/thead><tbody><tr><td>Th\u00e0nh l\u1eadp Nubank<\/td><td>2013<\/td><td>Thi\u1ebft l\u1eadp gi\u00e1 tr\u1ecb \u0111\u1ec1 xu\u1ea5t<\/td><\/tr><tr><td>M\u1edf r\u1ed9ng sang Mexico<\/td><td>2019<\/td><td>B\u01b0\u1edbc \u0111\u1ea7u ti\u00ean trong qu\u1ed1c t\u1ebf h\u00f3a<\/td><\/tr><tr><td>IPO tr\u00ean NYSE<\/td><td>Th\u00e1ng 12 n\u0103m 2021<\/td><td>\u0110\u1ecbnh gi\u00e1 ban \u0111\u1ea7u 41 t\u1ef7 USD<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m \u0111\u1ea7u ti\u00ean \u0111\u01b0\u1ee3c b\u00e1o c\u00e1o<\/td><td>2023<\/td><td>X\u00e1c nh\u1eadn m\u00f4 h\u00ecnh kinh doanh<\/td><\/tr><tr><td>M\u1edf r\u1ed9ng c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng l\u00ean 100 tri\u1ec7u<\/td><td>2024<\/td><td>C\u1ee7ng c\u1ed1 v\u1ecb th\u1ebf l\u00e0 ng\u00e2n h\u00e0ng k\u1ef9 thu\u1eadt s\u1ed1 l\u1edbn nh\u1ea5t \u1edf LA<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u1edbi s\u1ef1 t\u0103ng tr\u01b0\u1edfng l\u00ean 100 tri\u1ec7u kh\u00e1ch h\u00e0ng v\u00e0o n\u0103m 2024 v\u00e0 l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m 4.7 t\u1ef7 R$, Nubank \u0111\u00e3 th\u00e1ch th\u1ee9c s\u1ef1 \u0111\u1ed9c quy\u1ec1n ng\u00e2n h\u00e0ng Brazil. Ph\u00e2n t\u00edch t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ea5y r\u1eb1ng tr\u01b0\u1eddng h\u1ee3p n\u00e0y \u0111\u1ea1i di\u1ec7n cho m\u1ed9t v\u00ed d\u1ee5 \u0111\u1ed9c \u0111\u00e1o v\u1ec1 s\u1ef1 gi\u00e1n \u0111o\u1ea1n trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng t\u1eadp trung, v\u1edbi l\u1ee3i nhu\u1eadn 215% cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ec3 t\u1eeb \u0111i\u1ec3m th\u1ea5p nh\u1ea5t sau IPO.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n: Khi n\u00e0o c\u1ed5 phi\u1ebfu Nubank \u0111\u00e1ng \u0111\u1ec3 xem x\u00e9t<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 x\u00e1c \u0111\u1ecbnh li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>&nbsp;cho danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n v\u00e0o n\u0103m 2025, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i xem x\u00e9t c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3 cho th\u1ea5y s\u1ee9c kh\u1ecfe v\u00e0 ti\u1ec1m n\u0103ng c\u1ee7a c\u00f4ng ty. Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n ti\u1ebft l\u1ed9 li\u1ec7u gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a 78.40 R$ m\u1ed7i BDR (NUBR33) c\u00f3 ph\u1ea3n \u00e1nh gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a doanh nghi\u1ec7p hay kh\u00f4ng.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh ch\u00ednh c\u1ee7a Nubank<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nubank \u0111\u00e3 th\u1ec3 hi\u1ec7n c\u00e1c ch\u1ec9 s\u1ed1 t\u0103ng tr\u01b0\u1edfng xu\u1ea5t s\u1eafc, v\u1edbi chi ph\u00ed thu h\u00fat kh\u00e1ch h\u00e0ng th\u1ea5p h\u01a1n 67% so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng (19 R$ so v\u1edbi 57 R$) v\u00e0 t\u1ef7 l\u1ec7 gi\u1eef ch\u00e2n 94.5%. C\u00e1c chuy\u00ean gia t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;nh\u1ea5n m\u1ea1nh r\u1eb1ng m\u00f4 h\u00ecnh ho\u1ea1t \u0111\u1ed9ng k\u1ef9 thu\u1eadt s\u1ed1 cho ph\u00e9p Nubank ho\u1ea1t \u0111\u1ed9ng v\u1edbi hi\u1ec7u qu\u1ea3 cao h\u01a1n 63% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 truy\u1ec1n th\u1ed1ng, duy tr\u00ec chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng ch\u1ec9 chi\u1ebfm 3.2% t\u1ed5ng t\u00e0i s\u1ea3n.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 s\u1ed1<\/th><th>2023<\/th><th>2024 (\u0111\u1ebfn Q3)<\/th><th>Xu h\u01b0\u1edbng<\/th><\/tr><\/thead><tbody><tr><td>T\u1ed5ng doanh thu<\/td><td>17.2 t\u1ef7 R$<\/td><td>22.1 t\u1ef7 R$<\/td><td>\u2191 28.5%<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn r\u00f2ng<\/td><td>3.1 t\u1ef7 R$<\/td><td>4.7 t\u1ef7 R$<\/td><td>\u2191 51.6%<\/td><\/tr><tr><td>Bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng<\/td><td>18.0%<\/td><td>21.3%<\/td><td>\u2191 3.3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>ROE<\/td><td>9.8%<\/td><td>12.7%<\/td><td>\u2191 2.9 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>C\u01a1 s\u1edf kh\u00e1ch h\u00e0ng ho\u1ea1t \u0111\u1ed9ng<\/td><td>85.7 tri\u1ec7u<\/td><td>102.3 tri\u1ec7u<\/td><td>\u2191 19.4%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c con s\u1ed1 cho th\u1ea5y m\u1ed9t xu h\u01b0\u1edbng t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh, nh\u01b0ng \u0111i\u1ec1u n\u00e0y kh\u00f4ng t\u1ef1 \u0111\u1ed9ng c\u00f3 ngh\u0129a l\u00e0&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;cho t\u1ea5t c\u1ea3 c\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0. \u0110i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i \u0111\u00e1nh gi\u00e1 gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i c\u1ee7a n\u00f3 so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>H\u1ec7 s\u1ed1<\/th><th>Nubank<\/th><th>Ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng (trung b\u00ecnh)<\/th><th>Fintech to\u00e0n c\u1ea7u (trung b\u00ecnh)<\/th><\/tr><\/thead><tbody><tr><td>P\/E<\/td><td>28.5<\/td><td>7.2<\/td><td>35.3<\/td><\/tr><tr><td>P\/B<\/td><td>4.9<\/td><td>1.3<\/td><td>5.8<\/td><\/tr><tr><td>EV\/EBITDA<\/td><td>22.7<\/td><td>6.4<\/td><td>27.1<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u00e1c h\u1ec7 s\u1ed1, ch\u00fang ta x\u00e1c nh\u1eadn r\u1eb1ng Nubank giao d\u1ecbch v\u1edbi m\u1ee9c gi\u00e1 cao h\u01a1n 296% so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng c\u1ee7a Brazil (P\/E 28.5 so v\u1edbi 7.2), nh\u01b0ng v\u1eabn th\u1ea5p h\u01a1n 19% so v\u1edbi c\u00e1c fintech to\u00e0n c\u1ea7u nh\u01b0 Square v\u00e0 PayPal (P\/E 35.3). V\u1ecb tr\u00ed trung gian n\u00e0y ph\u1ea3n \u00e1nh c\u1ea3 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng ch\u01b0a \u0111\u01b0\u1ee3c kh\u00e1m ph\u00e1 v\u00e0 k\u1ef3 v\u1ecdng cao \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 v\u00e0o gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>L\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a Nubank: T\u1ea1i sao m\u1ed9t s\u1ed1 nh\u00e0 ph\u00e2n t\u00edch tin r\u1eb1ng mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;x\u00e1c \u0111\u1ecbnh m\u1ed9t s\u1ed1 l\u1ee3i th\u1ebf c\u1ea1nh tranh c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng \u0111\u01b0\u1ee3c c\u00f3 th\u1ec3 duy tr\u00ec s\u1ef1 t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n c\u1ee7a Nubank:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ea5u tr\u00fac chi ph\u00ed th\u1ea5p h\u01a1n 65% so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng, v\u1edbi chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng m\u1ed7i kh\u00e1ch h\u00e0ng l\u00e0 14.70 R$ h\u00e0ng th\u00e1ng so v\u1edbi 41.90 R$<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>NPS (Net Promoter Score) \u0111\u1ea1t 92 \u0111i\u1ec3m, so v\u1edbi trung b\u00ecnh 36 \u0111i\u1ec3m trong ng\u00e0nh ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng c\u1ee7a Brazil<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u1ea3 n\u0103ng ki\u1ebfm ti\u1ec1n ng\u00e0y c\u00e0ng t\u0103ng, v\u1edbi s\u1ef1 gia t\u0103ng ARPAC 65% trong 24 th\u00e1ng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>M\u1edf r\u1ed9ng t\u1eeb 1.2 s\u1ea3n ph\u1ea9m m\u1ed7i kh\u00e1ch h\u00e0ng v\u00e0o n\u0103m 2022 l\u00ean 3.4 s\u1ea3n ph\u1ea9m m\u1ed7i kh\u00e1ch h\u00e0ng v\u00e0o n\u0103m 2024<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Hi\u1ec7n di\u1ec7n qu\u1ed1c t\u1ebf v\u1edbi t\u0103ng tr\u01b0\u1edfng 147% t\u1ea1i c\u00e1c th\u1ecb tr\u01b0\u1eddng nh\u01b0 Mexico (3.8 tri\u1ec7u kh\u00e1ch h\u00e0ng) v\u00e0 Colombia (650 ngh\u00ecn kh\u00e1ch h\u00e0ng)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u00f4 h\u00ecnh t\u1eadp trung v\u00e0o kh\u00e1ch h\u00e0ng c\u1ee7a Nubank t\u1ea1o ra k\u1ebft qu\u1ea3 c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng: 89% kh\u00e1ch h\u00e0ng m\u1edbi \u0111\u1ebfn t\u1eeb s\u1ef1 gi\u1edbi thi\u1ec7u, v\u00e0 ng\u01b0\u1eddi d\u00f9ng m\u1edf r\u1ed9ng t\u1eeb 1.2 s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh trong n\u0103m \u0111\u1ea7u ti\u00ean l\u00ean 3.7 s\u1ea3n ph\u1ea9m sau ba n\u0103m, g\u1ea5p ba gi\u00e1 tr\u1ecb tr\u1ecdn \u0111\u1eddi c\u1ee7a m\u1ed7i kh\u00e1ch h\u00e0ng t\u1eeb 1,200 R$ l\u00ean 3,760 R$.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ki\u1ebfm ti\u1ec1n t\u1eeb c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t trong nh\u1eefng y\u1ebfu t\u1ed1 ch\u00ednh khi\u1ebfn c\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;xem x\u00e9t r\u1eb1ng&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;l\u00e0 s\u1ef1 gia t\u0103ng nh\u1ea5t qu\u00e1n trong ARPAC (Doanh thu trung b\u00ecnh h\u00e0ng th\u00e1ng tr\u00ean m\u1ed7i kh\u00e1ch h\u00e0ng ho\u1ea1t \u0111\u1ed9ng), \u0111o l\u01b0\u1eddng m\u1ee9c \u0111\u1ed9 c\u00f4ng ty c\u00f3 th\u1ec3 ki\u1ebfm ti\u1ec1n t\u1eeb m\u1ed7i ng\u01b0\u1eddi d\u00f9ng:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Giai \u0111o\u1ea1n<\/th><th>ARPAC h\u00e0ng th\u00e1ng<\/th><th>Bi\u1ebfn \u0111\u1ed9ng<\/th><\/tr><\/thead><tbody><tr><td>2022<\/td><td>19.20 R$<\/td><td>-<\/td><\/tr><tr><td>2023<\/td><td>25.40 R$<\/td><td>\u2191 32.3%<\/td><\/tr><tr><td>2024 (\u0111\u1ebfn Q3)<\/td><td>31.70 R$<\/td><td>\u2191 24.8%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Xu h\u01b0\u1edbng t\u0103ng ARPAC n\u00e0y, k\u1ebft h\u1ee3p v\u1edbi vi\u1ec7c b\u1ed5 sung kho\u1ea3ng 16.6 tri\u1ec7u kh\u00e1ch h\u00e0ng m\u1edbi h\u00e0ng n\u0103m (t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng 19.4%), h\u1ed7 tr\u1ee3 lu\u1eadn \u0111i\u1ec3m r\u1eb1ng Nubank v\u1eabn c\u00f3 ti\u1ec1m n\u0103ng m\u1edf r\u1ed9ng \u0111\u00e1ng k\u1ec3 v\u1ec1 doanh thu v\u00e0 l\u1ee3i nhu\u1eadn.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>R\u1ee7i ro \u0111\u1ea7u t\u01b0 v\u00e0o Nubank: Khi n\u00e0o n\u00ean tr\u00e1nh c\u1ed5 phi\u1ebfu Nubank<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1eb7c d\u00f9 c\u00f3 s\u1ef1 l\u1ea1c quan xung quanh c\u00f4ng ty, c\u00f3 nh\u1eefng r\u1ee7i ro \u0111\u00e1ng k\u1ec3 v\u00e0 c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng c\u1ea7n \u0111\u01b0\u1ee3c xem x\u00e9t tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh li\u1ec7u&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>&nbsp;cho h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i \u0111\u00e3 t\u00ednh \u0111\u1ebfn t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m 25% trong 5 n\u0103m t\u1edbi<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ea1nh tranh gia t\u0103ng v\u1edbi h\u01a1n 25 fintech c\u00f3 v\u1ed1n ho\u1ea1t \u0111\u1ed9ng trong c\u00f9ng ph\u00e2n kh\u00fac<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u0103ng 37% y\u00eau c\u1ea7u quy \u0111\u1ecbnh k\u1ec3 t\u1eeb n\u0103m 2022, t\u0103ng chi ph\u00ed tu\u00e2n th\u1ee7<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>L\u1ecbch s\u1eed bi\u1ebfn \u0111\u1ed9ng 42.5% (so v\u1edbi 22.8% c\u1ee7a Ibovespa)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>28.4% ti\u1ebfp x\u00fac v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf ch\u01b0a c\u00f3 l\u1ee3i nhu\u1eadn (Mexico v\u00e0 Colombia)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c chuy\u00ean gia t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u1eb7c bi\u1ec7t c\u1ea3nh b\u00e1o v\u1ec1 t\u00ecnh tr\u1ea1ng n\u1ee3 x\u1ea5u trong c\u00e1c k\u1ecbch b\u1ea3n suy tho\u00e1i. M\u1eb7c d\u00f9 Nubank \u0111\u00e3 c\u1ea3i thi\u1ec7n c\u00e1c ch\u1ec9 s\u1ed1 r\u1ee7i ro c\u1ee7a m\u00ecnh, gi\u1ea3m NPL +90 ng\u00e0y t\u1eeb 6.2% xu\u1ed1ng 5.1% k\u1ec3 t\u1eeb n\u0103m 2022 (d\u01b0\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a ng\u00e0nh l\u00e0 5.8%), c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng c\u1ee7a n\u00f3 bao g\u1ed3m m\u1ed9t t\u1ef7 l\u1ec7 l\u1edbn h\u01a1n c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng kh\u00f4ng c\u00f3 l\u1ecbch s\u1eed ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng, \u0111\u1ea1i di\u1ec7n cho kh\u1ea3 n\u0103ng d\u1ec5 b\u1ecb t\u1ed5n th\u01b0\u01a1ng trong c\u00e1c chu k\u1ef3 kinh t\u1ebf ti\u00eau c\u1ef1c:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 s\u1ed1<\/th><th>2022<\/th><th>2023<\/th><th>2024 (\u0111\u1ebfn Q3)<\/th><\/tr><\/thead><tbody><tr><td>NPL +90 ng\u00e0y (th\u1ebb t\u00edn d\u1ee5ng)<\/td><td>6.2%<\/td><td>5.7%<\/td><td>5.1%<\/td><\/tr><tr><td>NPL +90 ng\u00e0y (kho\u1ea3n vay c\u00e1 nh\u00e2n)<\/td><td>4.9%<\/td><td>4.2%<\/td><td>3.8%<\/td><\/tr><tr><td>Ph\u1ee7 s\u00f3ng d\u1ef1 ph\u00f2ng<\/td><td>218%<\/td><td>234%<\/td><td>251%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>So s\u00e1nh v\u1edbi c\u00e1c l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 kh\u00e1c trong ng\u00e0nh t\u00e0i ch\u00ednh Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 \u0111\u00e1nh gi\u00e1 kh\u00e1ch quan li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i so s\u00e1nh v\u1edbi c\u00e1c l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 trong c\u00f9ng ng\u00e0nh. B\u1ea3ng d\u01b0\u1edbi \u0111\u00e2y so s\u00e1nh Nubank v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ch\u00ednh tr\u00ean th\u1ecb tr\u01b0\u1eddng Brazil:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>C\u00f4ng ty<\/th><th>P\/E (2024)<\/th><th>T\u0103ng tr\u01b0\u1edfng doanh thu (YoY)<\/th><th>T\u0103ng tr\u01b0\u1edfng kh\u00e1ch h\u00e0ng (YoY)<\/th><th>ROE<\/th><th>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/th><\/tr><\/thead><tbody><tr><td>Nubank (NU)<\/td><td>28.5<\/td><td>28.5%<\/td><td>19.4%<\/td><td>12.7%<\/td><td>0.0%<\/td><\/tr><tr><td>Ita\u00fa (ITUB4)<\/td><td>7.3<\/td><td>7.2%<\/td><td>3.1%<\/td><td>20.3%<\/td><td>4.8%<\/td><\/tr><tr><td>Banco do Brasil (BBAS3)<\/td><td>4.9<\/td><td>5.1%<\/td><td>1.8%<\/td><td>21.2%<\/td><td>7.5%<\/td><\/tr><tr><td>Banco Inter (BIDI11)<\/td><td>22.1<\/td><td>19.7%<\/td><td>12.5%<\/td><td>8.4%<\/td><td>0.0%<\/td><\/tr><tr><td>PagSeguro (PAGS)<\/td><td>9.7<\/td><td>14.2%<\/td><td>8.9%<\/td><td>15.6%<\/td><td>1.2%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>So s\u00e1nh n\u00e0y l\u00e0m n\u1ed5i b\u1eadt s\u1ef1 \u0111\u00e1nh \u0111\u1ed5i c\u1ed5 \u0111i\u1ec3n gi\u1eefa t\u0103ng tr\u01b0\u1edfng v\u00e0 gi\u00e1 tr\u1ecb: trong khi Ita\u00fa v\u00e0 BB cung c\u1ea5p c\u00e1c h\u1ec7 s\u1ed1 th\u1ea5p h\u01a1n 75% v\u00e0 c\u1ed5 t\u1ee9c 5-7.5% m\u1ed7i n\u0103m, Nubank tr\u00ecnh b\u00e0y t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng doanh thu cao h\u01a1n 295%, kh\u00f4ng ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 trung b\u00ecnh, \u0111i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 l\u1ef1a ch\u1ecdn gi\u1eefa 7,500 R$ c\u1ed5 t\u1ee9c h\u00e0ng n\u0103m cho m\u1ed7i 100,000 R$ \u0111\u1ea7u t\u01b0 v\u00e0o BB so v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 v\u1ed1n \u1edf Nubank.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c n\u1ec1n t\u1ea3ng nh\u01b0&nbsp;<b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch so s\u00e1nh cho ph\u00e9p nh\u00e0 \u0111\u1ea7u t\u01b0 h\u00ecnh dung s\u1ef1 \u0111\u00e1nh \u0111\u1ed5i n\u00e0y v\u00e0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh ng\u1eafn v\u00e0 d\u00e0i h\u1ea1n c\u1ee7a h\u1ecd.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho c\u00e1c h\u1ed3 s\u01a1 kh\u00e1c nhau: Khi n\u00e0o mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Xem x\u00e9t ph\u00e2n t\u00edch \u0111\u00e3 tr\u00ecnh b\u00e0y, ch\u00fang ta c\u00f3 th\u1ec3 ph\u00e1c th\u1ea3o c\u00e1c chi\u1ebfn l\u01b0\u1ee3c d\u1ef1a tr\u00ean d\u1eef li\u1ec7u c\u1ee5 th\u1ec3 cho c\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau:<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng c\u00f3 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng v\u00e0 t\u1ea7m nh\u00ecn 5+ n\u0103m,&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;trong m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n k\u1ef3. C\u00e1ch ti\u1ebfp c\u1eadn \u0111\u01b0\u1ee3c khuy\u1ebfn ngh\u1ecb b\u1edfi c\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;bao g\u1ed3m:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n b\u1ed5 8-15% danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu fintech, v\u1edbi Nubank chi\u1ebfm t\u1ed1i \u0111a 5% t\u1ed5ng s\u1ed1 \u0111\u1ea7u t\u01b0<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1ef1c hi\u1ec7n c\u00e1c giao d\u1ecbch mua \u0111\u1ecbnh k\u1ef3 h\u00e0ng qu\u00fd \u0111\u1ec3 gi\u1ea3m thi\u1ec3u t\u00e1c \u0111\u1ed9ng c\u1ee7a bi\u1ebfn \u0111\u1ed9ng h\u00e0ng n\u0103m 42.5% \u0111\u00e3 quan s\u00e1t<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Theo d\u00f5i c\u1ee5 th\u1ec3 c\u00e1c ch\u1ec9 s\u1ed1 t\u0103ng tr\u01b0\u1edfng ARPAC (m\u1ee5c ti\u00eau &gt;20% h\u00e0ng n\u0103m) v\u00e0 m\u1edf r\u1ed9ng c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng (m\u1ee5c ti\u00eau &gt;15% h\u00e0ng n\u0103m)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp \u0111\u00e1nh gi\u00e1 l\u1ea1i n\u1eeda n\u0103m v\u1edbi c\u00e1c k\u00edch ho\u1ea1t b\u00e1n n\u1ebfu P\/E v\u01b0\u1ee3t qu\u00e1 35x ho\u1eb7c t\u0103ng tr\u01b0\u1edfng doanh thu gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi 20%<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 c\u1ea3nh b\u00e1o v\u00e0 gi\u00e1m s\u00e1t \u0111\u1ec3 theo d\u00f5i c\u00f3 h\u1ec7 th\u1ed1ng c\u00e1c ch\u1ec9 s\u1ed1 quan tr\u1ecdng n\u00e0y, cho ph\u00e9p \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn thu\u1eadt khi c\u1ea7n thi\u1ebft.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ea3o th\u1ee7<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n v\u00e0 \u01b0u ti\u00ean d\u00f2ng thu nh\u1eadp d\u1ef1 \u0111o\u00e1n,&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;ch\u1ec9 nh\u01b0 m\u1ed9t ph\u1ea7n ti\u1ebfp x\u00fac chi\u1ebfn thu\u1eadt h\u1ea1n ch\u1ebf trong m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a. Khuy\u1ebfn ngh\u1ecb c\u1ee5 th\u1ec3:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gi\u1edbi h\u1ea1n ti\u1ebfp x\u00fac \u1edf m\u1ee9c 2-4% t\u1ed5ng danh m\u1ee5c \u0111\u1ea7u t\u01b0, t\u1ed1t nh\u1ea5t l\u00e0 sau khi \u0111i\u1ec1u ch\u1ec9nh \u00edt nh\u1ea5t 15% t\u1eeb \u0111\u1ec9nh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u1ed5 sung v\u1edbi ph\u00e2n b\u1ed5 10-15% v\u00e0o c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng c\u00f3 l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c &gt;5% (Ita\u00fa, BB, Santander Brasil)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Xem x\u00e9t c\u00e1c ETF nh\u01b0 FIND11 (Ch\u1ec9 s\u1ed1 Fintech) cung c\u1ea5p ti\u1ebfp x\u00fac \u0111a d\u1ea1ng h\u00f3a v\u1edbi ng\u00e0nh v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% so v\u1edbi c\u1ed5 phi\u1ebfu ri\u00eang l\u1ebb<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c stop-loss \u1edf m\u1ee9c 20% d\u01b0\u1edbi gi\u00e1 v\u00e0o \u0111\u1ec3 b\u1ea3o v\u1ec7 v\u1ed1n<\/li><\/ul><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>H\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0<\/th><th>Ph\u00e2n b\u1ed5 \u0111\u1ec1 xu\u1ea5t v\u00e0o Nubank<\/th><th>Th\u1eddi gian khuy\u1ebfn ngh\u1ecb<\/th><th>Chi\u1ebfn l\u01b0\u1ee3c b\u1ed5 sung<\/th><\/tr><\/thead><tbody><tr><td>T\u00edch c\u1ef1c<\/td><td>10-15%<\/td><td>5+ n\u0103m<\/td><td>C\u00e1c fintech qu\u1ed1c t\u1ebf kh\u00e1c (PayPal, Block, MercadoLibre)<\/td><\/tr><tr><td>Trung b\u00ecnh<\/td><td>5-10%<\/td><td>3-5 n\u0103m<\/td><td>70% ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng + 30% ng\u00e2n h\u00e0ng k\u1ef9 thu\u1eadt s\u1ed1<\/td><\/tr><tr><td>B\u1ea3o th\u1ee7<\/td><td>0-5%<\/td><td>3+ n\u0103m<\/td><td>85% ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng + 15% ETF fintech<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u01b0\u01a1ng lai c\u1ee7a Nubank v\u00e0 ti\u1ec1m n\u0103ng d\u00e0i h\u1ea1n<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi \u0111\u00e1nh gi\u00e1 li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>&nbsp;trong d\u00e0i h\u1ea1n, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i \u0111\u1ecbnh l\u01b0\u1ee3ng c\u00e1c y\u1ebfu t\u1ed1 c\u1ee5 th\u1ec3 c\u1ee7a s\u1ef1 t\u0103ng tr\u01b0\u1edfng t\u01b0\u01a1ng lai c\u1ee7a c\u00f4ng ty:<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>M\u1edf r\u1ed9ng qu\u1ed1c t\u1ebf<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nubank \u0111\u00e3 chinh ph\u1ee5c \u0111\u01b0\u1ee3c 3.8 tri\u1ec7u kh\u00e1ch h\u00e0ng \u1edf Mexico v\u00e0 650 ngh\u00ecn \u1edf Colombia, v\u1edbi t\u0103ng tr\u01b0\u1edfng h\u00e0ng th\u00e1ng l\u1ea7n l\u01b0\u1ee3t l\u00e0 9% v\u00e0 12%. C\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;d\u1ef1 \u0111o\u00e1n r\u1eb1ng m\u1edf r\u1ed9ng qu\u1ed1c t\u1ebf s\u1ebd chi\u1ebfm 32% doanh thu v\u00e0o n\u0103m 2030, v\u1edbi ti\u1ec1m n\u0103ng b\u1ed5 sung 22 t\u1ef7 R$ v\u00e0o gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Qu\u1ed1c gia<\/th><th>D\u00e2n s\u1ed1<\/th><th>Th\u00e2m nh\u1eadp ng\u00e2n h\u00e0ng<\/th><th>Ti\u1ec1m n\u0103ng th\u1ecb tr\u01b0\u1eddng<\/th><\/tr><\/thead><tbody><tr><td>Brazil<\/td><td>214 tri\u1ec7u<\/td><td>84%<\/td><td>Th\u1ecb tr\u01b0\u1eddng ch\u00ednh \u0111\u00e3 trong giai \u0111o\u1ea1n ki\u1ebfm ti\u1ec1n ti\u00ean ti\u1ebfn<\/td><\/tr><tr><td>Mexico<\/td><td>126 tri\u1ec7u<\/td><td>47%<\/td><td>Cao (3.8 tri\u1ec7u kh\u00e1ch h\u00e0ng, +9% h\u00e0ng th\u00e1ng)<\/td><\/tr><tr><td>Colombia<\/td><td>51 tri\u1ec7u<\/td><td>46%<\/td><td>Trung b\u00ecnh (650 ngh\u00ecn kh\u00e1ch h\u00e0ng, +12% h\u00e0ng th\u00e1ng)<\/td><\/tr><tr><td>C\u00e1c th\u1ecb tr\u01b0\u1eddng LatAm kh\u00e1c<\/td><td>~230 tri\u1ec7u<\/td><td>Bi\u1ebfn \u0111\u1ed5i (38-52%)<\/td><td>M\u1edf r\u1ed9ng d\u1ef1 ki\u1ebfn \u0111\u1ebfn Chile v\u00e0 Peru v\u00e0o n\u0103m 2026<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>\u0110a d\u1ea1ng h\u00f3a s\u1ea3n ph\u1ea9m<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Vi\u1ec7c t\u00edch h\u1ee3p v\u1edbi NuInvest \u0111\u00e3 thu h\u00fat \u0111\u01b0\u1ee3c 18.7 t\u1ef7 R$ t\u00e0i s\u1ea3n m\u1edbi d\u01b0\u1edbi s\u1ef1 qu\u1ea3n l\u00fd v\u00e0o n\u0103m 2024, \u0111\u1ea1i di\u1ec7n cho t\u0103ng tr\u01b0\u1edfng 42% trong 12 th\u00e1ng. \u0110\u1ed9ng th\u00e1i n\u00e0y kh\u00f4ng ch\u1ec9 \u0111a d\u1ea1ng h\u00f3a doanh thu m\u00e0 c\u00f2n bi\u1ebfn \u0111\u1ed5i h\u1ed3 s\u01a1 c\u00f4ng ty t\u1eeb ch\u1ec9 ng\u00e2n h\u00e0ng sang m\u1ed9t h\u1ec7 sinh th\u00e1i t\u00e0i ch\u00ednh ho\u00e0n ch\u1ec9nh, t\u01b0\u01a1ng t\u1ef1 nh\u01b0 m\u00f4 h\u00ecnh \u0111\u00e3 th\u00eam 200 t\u1ef7 USD v\u00e0o gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c fintech ch\u00e2u \u00c1 nh\u01b0 Ant Financial.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>S\u1ef1 m\u1edf r\u1ed9ng c\u1ee7a h\u1ec7 sinh th\u00e1i Nubank hi\u1ec7n bao g\u1ed3m s\u00e1u l\u0129nh v\u1ef1c ch\u00ednh v\u1edbi s\u1ef1 \u0111\u00f3ng g\u00f3p ng\u00e0y c\u00e0ng t\u0103ng v\u00e0o t\u1ed5ng doanh thu:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>L\u0129nh v\u1ef1c<\/th><th>% Doanh thu 2022<\/th><th>% Doanh thu 2024<\/th><th>T\u0103ng tr\u01b0\u1edfng<\/th><\/tr><\/thead><tbody><tr><td>Th\u1ebb t\u00edn d\u1ee5ng<\/td><td>67%<\/td><td>48%<\/td><td>\u2193 19 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>T\u00e0i kho\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 v\u00e0 PIX<\/td><td>18%<\/td><td>22%<\/td><td>\u2191 4 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>Kho\u1ea3n vay c\u00e1 nh\u00e2n<\/td><td>12%<\/td><td>15%<\/td><td>\u2191 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>\u0110\u1ea7u t\u01b0 (NuInvest)<\/td><td>2%<\/td><td>8%<\/td><td>\u2191 6 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>B\u1ea3o hi\u1ec3m<\/td><td>1%<\/td><td>4%<\/td><td>\u2191 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><tr><td>Th\u1ecb tr\u01b0\u1eddng v\u00e0 d\u1ecbch v\u1ee5<\/td><td>0%<\/td><td>3%<\/td><td>\u2191 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><\/tbody><\/table><\/div><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Nh\u1eefng c\u00e2n nh\u1eafc cu\u1ed1i c\u00f9ng: C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 v\u00e0o n\u0103m 2025 kh\u00f4ng?<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch chi ti\u1ebft nhi\u1ec1u kh\u00eda c\u1ea1nh c\u1ee7a Nubank nh\u01b0 m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0, ch\u00fang t\u00f4i k\u1ebft lu\u1eadn r\u1eb1ng c\u00e2u tr\u1ea3 l\u1eddi cho c\u00e2u h\u1ecfi \"<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>?\" li\u00ean quan tr\u1ef1c ti\u1ebfp \u0111\u1ebfn h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0, th\u1eddi gian v\u00e0 m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nubank \u0111\u1ea1i di\u1ec7n cho m\u1ed9t s\u1ef1 ti\u1ebfp x\u00fac chi\u1ebfn l\u01b0\u1ee3c v\u1edbi t\u01b0\u01a1ng lai c\u1ee7a d\u1ecbch v\u1ee5 t\u00e0i ch\u00ednh k\u1ef9 thu\u1eadt s\u1ed1 \u1edf M\u1ef9 Latinh, v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 85-120% trong n\u0103m n\u0103m t\u1edbi theo d\u1ef1 b\u00e1o c\u1ee7a&nbsp;<b>Pocket Option<\/b>, n\u1ebfu n\u00f3 duy tr\u00ec t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng doanh thu h\u00e0ng n\u0103m tr\u00ean 22% v\u00e0 m\u1edf r\u1ed9ng bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng l\u00ean 25-27%.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u1ea7m nh\u00ecn 5+ n\u0103m v\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng 30-40%,&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;xem x\u00e9t ph\u00e2n b\u1ed5 chi\u1ebfn l\u01b0\u1ee3c 5-15% trong m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng, t\u1ed1t nh\u1ea5t l\u00e0 trong c\u00e1c th\u1eddi \u0111i\u1ec3m \u0111i\u1ec1u ch\u1ec9nh d\u01b0\u1edbi P\/E 25. \u0110\u1ed1i v\u1edbi c\u00e1c h\u1ed3 s\u01a1 b\u1ea3o th\u1ee7 h\u01a1n, khuy\u1ebfn ngh\u1ecb ti\u1ebfp x\u00fac h\u1ea1n ch\u1ebf 3-5% ho\u1eb7c c\u00e1c chi\u1ebfn l\u01b0\u1ee3c quy\u1ec1n ch\u1ecdn c\u00f3 b\u1ea3o hi\u1ec3m \u0111\u1ec3 t\u1ea1o thu nh\u1eadp tr\u00ean v\u1ecb tr\u00ed.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch cho ph\u00e9p theo d\u00f5i c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t ch\u00ednh c\u1ee7a Nubank, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u00e1c quy\u1ebft \u0111\u1ecbnh chi\u1ebfn thu\u1eadt-ho\u1ea1t \u0111\u1ed9ng t\u1ea1i c\u00e1c th\u1eddi \u0111i\u1ec3m kh\u00e1c nhau c\u1ee7a chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ti\u1ec1m n\u0103ng gi\u00e1n \u0111o\u1ea1n c\u1ee7a Nubank trong ng\u00e0nh t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00e1c ch\u1ec9 s\u1ed1 c\u1ee5 th\u1ec3: t\u0103ng tr\u01b0\u1edfng doanh thu 28.5%, m\u1edf r\u1ed9ng c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng \u1edf m\u1ee9c 18% m\u1ed7i n\u0103m, v\u00e0 bi\u00ean l\u1ee3i nhu\u1eadn ng\u00e0y c\u00e0ng t\u0103ng. Nh\u01b0 t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty t\u0103ng tr\u01b0\u1edfng cao, lu\u1eadn \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 \u0111\u00f2i h\u1ecfi s\u1ef1 hi\u1ec3u bi\u1ebft v\u1ec1 c\u00e1c r\u1ee7i ro c\u1ee5 th\u1ec3, c\u00e1c k\u1ecbch b\u1ea3n c\u1ea1nh tranh gia t\u0103ng, v\u00e0 \u0111\u1ed9 nh\u1ea1y c\u1ea3m v\u1edbi c\u00e1c chu k\u1ef3 kinh t\u1ebf.<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Hi\u1ec7n t\u01b0\u1ee3ng Nubank tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nubank \u0111\u00e3 c\u00e1ch m\u1ea1ng h\u00f3a c\u1ea3nh quan ng\u00e2n h\u00e0ng Brazil t\u1eeb n\u0103m 2013, ph\u00e1t tri\u1ec3n t\u1eeb m\u1ed9t c\u00f4ng ty kh\u1edfi nghi\u1ec7p th\u1ebb t\u00edn d\u1ee5ng th\u00e0nh t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh k\u1ef9 thu\u1eadt s\u1ed1 l\u1edbn nh\u1ea5t \u1edf M\u1ef9 Latinh, v\u1edbi gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng 35 t\u1ef7 USD v\u00e0o n\u0103m 2025. Khi ph\u00e2n t\u00edch li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i hi\u1ec3u c\u00e1ch c\u00f4ng ty \u0111\u00e3 thu h\u00fat h\u01a1n 100 tri\u1ec7u kh\u00e1ch h\u00e0ng trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng l\u1ecbch s\u1eed b\u1ecb chi ph\u1ed1i b\u1edfi n\u0103m ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng l\u1edbn.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nu Holdings (NU) ra m\u1eaft tr\u00ean NYSE v\u00e0o th\u00e1ng 12 n\u0103m 2021 v\u1edbi gi\u00e1 kh\u1edfi \u0111i\u1ec3m 9 USD m\u1ed7i c\u1ed5 phi\u1ebfu, \u0111\u1ecbnh gi\u00e1 c\u00f4ng ty \u1edf m\u1ee9c 41 t\u1ef7 USD. Sau c\u00e1c giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng, bao g\u1ed3m gi\u1ea3m 60% v\u00e0o n\u0103m 2022 v\u00e0 ph\u1ee5c h\u1ed3i \u0111\u00e1ng k\u1ec3 v\u00e0o n\u0103m 2023-2024, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1eb7t c\u00e2u h\u1ecfi li\u1ec7u&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>, \u0111\u1eb7c bi\u1ec7t khi xem x\u00e9t h\u1ec7 s\u1ed1 P\/E hi\u1ec7n t\u1ea1i l\u00e0 28.5, cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>C\u1ed9t m\u1ed1c l\u1ecbch s\u1eed<\/th>\n<th>Ng\u00e0y<\/th>\n<th>T\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 tr\u1ecb<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Th\u00e0nh l\u1eadp Nubank<\/td>\n<td>2013<\/td>\n<td>Thi\u1ebft l\u1eadp gi\u00e1 tr\u1ecb \u0111\u1ec1 xu\u1ea5t<\/td>\n<\/tr>\n<tr>\n<td>M\u1edf r\u1ed9ng sang Mexico<\/td>\n<td>2019<\/td>\n<td>B\u01b0\u1edbc \u0111\u1ea7u ti\u00ean trong qu\u1ed1c t\u1ebf h\u00f3a<\/td>\n<\/tr>\n<tr>\n<td>IPO tr\u00ean NYSE<\/td>\n<td>Th\u00e1ng 12 n\u0103m 2021<\/td>\n<td>\u0110\u1ecbnh gi\u00e1 ban \u0111\u1ea7u 41 t\u1ef7 USD<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m \u0111\u1ea7u ti\u00ean \u0111\u01b0\u1ee3c b\u00e1o c\u00e1o<\/td>\n<td>2023<\/td>\n<td>X\u00e1c nh\u1eadn m\u00f4 h\u00ecnh kinh doanh<\/td>\n<\/tr>\n<tr>\n<td>M\u1edf r\u1ed9ng c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng l\u00ean 100 tri\u1ec7u<\/td>\n<td>2024<\/td>\n<td>C\u1ee7ng c\u1ed1 v\u1ecb th\u1ebf l\u00e0 ng\u00e2n h\u00e0ng k\u1ef9 thu\u1eadt s\u1ed1 l\u1edbn nh\u1ea5t \u1edf LA<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>V\u1edbi s\u1ef1 t\u0103ng tr\u01b0\u1edfng l\u00ean 100 tri\u1ec7u kh\u00e1ch h\u00e0ng v\u00e0o n\u0103m 2024 v\u00e0 l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m 4.7 t\u1ef7 R$, Nubank \u0111\u00e3 th\u00e1ch th\u1ee9c s\u1ef1 \u0111\u1ed9c quy\u1ec1n ng\u00e2n h\u00e0ng Brazil. Ph\u00e2n t\u00edch t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ea5y r\u1eb1ng tr\u01b0\u1eddng h\u1ee3p n\u00e0y \u0111\u1ea1i di\u1ec7n cho m\u1ed9t v\u00ed d\u1ee5 \u0111\u1ed9c \u0111\u00e1o v\u1ec1 s\u1ef1 gi\u00e1n \u0111o\u1ea1n trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng t\u1eadp trung, v\u1edbi l\u1ee3i nhu\u1eadn 215% cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ec3 t\u1eeb \u0111i\u1ec3m th\u1ea5p nh\u1ea5t sau IPO.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n: Khi n\u00e0o c\u1ed5 phi\u1ebfu Nubank \u0111\u00e1ng \u0111\u1ec3 xem x\u00e9t<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 x\u00e1c \u0111\u1ecbnh li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>&nbsp;cho danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n v\u00e0o n\u0103m 2025, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i xem x\u00e9t c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3 cho th\u1ea5y s\u1ee9c kh\u1ecfe v\u00e0 ti\u1ec1m n\u0103ng c\u1ee7a c\u00f4ng ty. Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n ti\u1ebft l\u1ed9 li\u1ec7u gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a 78.40 R$ m\u1ed7i BDR (NUBR33) c\u00f3 ph\u1ea3n \u00e1nh gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a doanh nghi\u1ec7p hay kh\u00f4ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh ch\u00ednh c\u1ee7a Nubank<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nubank \u0111\u00e3 th\u1ec3 hi\u1ec7n c\u00e1c ch\u1ec9 s\u1ed1 t\u0103ng tr\u01b0\u1edfng xu\u1ea5t s\u1eafc, v\u1edbi chi ph\u00ed thu h\u00fat kh\u00e1ch h\u00e0ng th\u1ea5p h\u01a1n 67% so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng (19 R$ so v\u1edbi 57 R$) v\u00e0 t\u1ef7 l\u1ec7 gi\u1eef ch\u00e2n 94.5%. C\u00e1c chuy\u00ean gia t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;nh\u1ea5n m\u1ea1nh r\u1eb1ng m\u00f4 h\u00ecnh ho\u1ea1t \u0111\u1ed9ng k\u1ef9 thu\u1eadt s\u1ed1 cho ph\u00e9p Nubank ho\u1ea1t \u0111\u1ed9ng v\u1edbi hi\u1ec7u qu\u1ea3 cao h\u01a1n 63% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 truy\u1ec1n th\u1ed1ng, duy tr\u00ec chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng ch\u1ec9 chi\u1ebfm 3.2% t\u1ed5ng t\u00e0i s\u1ea3n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 s\u1ed1<\/th>\n<th>2023<\/th>\n<th>2024 (\u0111\u1ebfn Q3)<\/th>\n<th>Xu h\u01b0\u1edbng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u1ed5ng doanh thu<\/td>\n<td>17.2 t\u1ef7 R$<\/td>\n<td>22.1 t\u1ef7 R$<\/td>\n<td>\u2191 28.5%<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn r\u00f2ng<\/td>\n<td>3.1 t\u1ef7 R$<\/td>\n<td>4.7 t\u1ef7 R$<\/td>\n<td>\u2191 51.6%<\/td>\n<\/tr>\n<tr>\n<td>Bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng<\/td>\n<td>18.0%<\/td>\n<td>21.3%<\/td>\n<td>\u2191 3.3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>ROE<\/td>\n<td>9.8%<\/td>\n<td>12.7%<\/td>\n<td>\u2191 2.9 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>C\u01a1 s\u1edf kh\u00e1ch h\u00e0ng ho\u1ea1t \u0111\u1ed9ng<\/td>\n<td>85.7 tri\u1ec7u<\/td>\n<td>102.3 tri\u1ec7u<\/td>\n<td>\u2191 19.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c con s\u1ed1 cho th\u1ea5y m\u1ed9t xu h\u01b0\u1edbng t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh, nh\u01b0ng \u0111i\u1ec1u n\u00e0y kh\u00f4ng t\u1ef1 \u0111\u1ed9ng c\u00f3 ngh\u0129a l\u00e0&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;cho t\u1ea5t c\u1ea3 c\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0. \u0110i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i \u0111\u00e1nh gi\u00e1 gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i c\u1ee7a n\u00f3 so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>H\u1ec7 s\u1ed1<\/th>\n<th>Nubank<\/th>\n<th>Ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng (trung b\u00ecnh)<\/th>\n<th>Fintech to\u00e0n c\u1ea7u (trung b\u00ecnh)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>P\/E<\/td>\n<td>28.5<\/td>\n<td>7.2<\/td>\n<td>35.3<\/td>\n<\/tr>\n<tr>\n<td>P\/B<\/td>\n<td>4.9<\/td>\n<td>1.3<\/td>\n<td>5.8<\/td>\n<\/tr>\n<tr>\n<td>EV\/EBITDA<\/td>\n<td>22.7<\/td>\n<td>6.4<\/td>\n<td>27.1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u00e1c h\u1ec7 s\u1ed1, ch\u00fang ta x\u00e1c nh\u1eadn r\u1eb1ng Nubank giao d\u1ecbch v\u1edbi m\u1ee9c gi\u00e1 cao h\u01a1n 296% so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng c\u1ee7a Brazil (P\/E 28.5 so v\u1edbi 7.2), nh\u01b0ng v\u1eabn th\u1ea5p h\u01a1n 19% so v\u1edbi c\u00e1c fintech to\u00e0n c\u1ea7u nh\u01b0 Square v\u00e0 PayPal (P\/E 35.3). V\u1ecb tr\u00ed trung gian n\u00e0y ph\u1ea3n \u00e1nh c\u1ea3 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng ch\u01b0a \u0111\u01b0\u1ee3c kh\u00e1m ph\u00e1 v\u00e0 k\u1ef3 v\u1ecdng cao \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 v\u00e0o gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>L\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a Nubank: T\u1ea1i sao m\u1ed9t s\u1ed1 nh\u00e0 ph\u00e2n t\u00edch tin r\u1eb1ng mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;x\u00e1c \u0111\u1ecbnh m\u1ed9t s\u1ed1 l\u1ee3i th\u1ebf c\u1ea1nh tranh c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng \u0111\u01b0\u1ee3c c\u00f3 th\u1ec3 duy tr\u00ec s\u1ef1 t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n c\u1ee7a Nubank:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ea5u tr\u00fac chi ph\u00ed th\u1ea5p h\u01a1n 65% so v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng, v\u1edbi chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng m\u1ed7i kh\u00e1ch h\u00e0ng l\u00e0 14.70 R$ h\u00e0ng th\u00e1ng so v\u1edbi 41.90 R$<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>NPS (Net Promoter Score) \u0111\u1ea1t 92 \u0111i\u1ec3m, so v\u1edbi trung b\u00ecnh 36 \u0111i\u1ec3m trong ng\u00e0nh ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng c\u1ee7a Brazil<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u1ea3 n\u0103ng ki\u1ebfm ti\u1ec1n ng\u00e0y c\u00e0ng t\u0103ng, v\u1edbi s\u1ef1 gia t\u0103ng ARPAC 65% trong 24 th\u00e1ng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>M\u1edf r\u1ed9ng t\u1eeb 1.2 s\u1ea3n ph\u1ea9m m\u1ed7i kh\u00e1ch h\u00e0ng v\u00e0o n\u0103m 2022 l\u00ean 3.4 s\u1ea3n ph\u1ea9m m\u1ed7i kh\u00e1ch h\u00e0ng v\u00e0o n\u0103m 2024<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Hi\u1ec7n di\u1ec7n qu\u1ed1c t\u1ebf v\u1edbi t\u0103ng tr\u01b0\u1edfng 147% t\u1ea1i c\u00e1c th\u1ecb tr\u01b0\u1eddng nh\u01b0 Mexico (3.8 tri\u1ec7u kh\u00e1ch h\u00e0ng) v\u00e0 Colombia (650 ngh\u00ecn kh\u00e1ch h\u00e0ng)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u00f4 h\u00ecnh t\u1eadp trung v\u00e0o kh\u00e1ch h\u00e0ng c\u1ee7a Nubank t\u1ea1o ra k\u1ebft qu\u1ea3 c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng: 89% kh\u00e1ch h\u00e0ng m\u1edbi \u0111\u1ebfn t\u1eeb s\u1ef1 gi\u1edbi thi\u1ec7u, v\u00e0 ng\u01b0\u1eddi d\u00f9ng m\u1edf r\u1ed9ng t\u1eeb 1.2 s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh trong n\u0103m \u0111\u1ea7u ti\u00ean l\u00ean 3.7 s\u1ea3n ph\u1ea9m sau ba n\u0103m, g\u1ea5p ba gi\u00e1 tr\u1ecb tr\u1ecdn \u0111\u1eddi c\u1ee7a m\u1ed7i kh\u00e1ch h\u00e0ng t\u1eeb 1,200 R$ l\u00ean 3,760 R$.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ki\u1ebfm ti\u1ec1n t\u1eeb c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t trong nh\u1eefng y\u1ebfu t\u1ed1 ch\u00ednh khi\u1ebfn c\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;xem x\u00e9t r\u1eb1ng&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;l\u00e0 s\u1ef1 gia t\u0103ng nh\u1ea5t qu\u00e1n trong ARPAC (Doanh thu trung b\u00ecnh h\u00e0ng th\u00e1ng tr\u00ean m\u1ed7i kh\u00e1ch h\u00e0ng ho\u1ea1t \u0111\u1ed9ng), \u0111o l\u01b0\u1eddng m\u1ee9c \u0111\u1ed9 c\u00f4ng ty c\u00f3 th\u1ec3 ki\u1ebfm ti\u1ec1n t\u1eeb m\u1ed7i ng\u01b0\u1eddi d\u00f9ng:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Giai \u0111o\u1ea1n<\/th>\n<th>ARPAC h\u00e0ng th\u00e1ng<\/th>\n<th>Bi\u1ebfn \u0111\u1ed9ng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>2022<\/td>\n<td>19.20 R$<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td>2023<\/td>\n<td>25.40 R$<\/td>\n<td>\u2191 32.3%<\/td>\n<\/tr>\n<tr>\n<td>2024 (\u0111\u1ebfn Q3)<\/td>\n<td>31.70 R$<\/td>\n<td>\u2191 24.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Xu h\u01b0\u1edbng t\u0103ng ARPAC n\u00e0y, k\u1ebft h\u1ee3p v\u1edbi vi\u1ec7c b\u1ed5 sung kho\u1ea3ng 16.6 tri\u1ec7u kh\u00e1ch h\u00e0ng m\u1edbi h\u00e0ng n\u0103m (t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng 19.4%), h\u1ed7 tr\u1ee3 lu\u1eadn \u0111i\u1ec3m r\u1eb1ng Nubank v\u1eabn c\u00f3 ti\u1ec1m n\u0103ng m\u1edf r\u1ed9ng \u0111\u00e1ng k\u1ec3 v\u1ec1 doanh thu v\u00e0 l\u1ee3i nhu\u1eadn.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>R\u1ee7i ro \u0111\u1ea7u t\u01b0 v\u00e0o Nubank: Khi n\u00e0o n\u00ean tr\u00e1nh c\u1ed5 phi\u1ebfu Nubank<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1eb7c d\u00f9 c\u00f3 s\u1ef1 l\u1ea1c quan xung quanh c\u00f4ng ty, c\u00f3 nh\u1eefng r\u1ee7i ro \u0111\u00e1ng k\u1ec3 v\u00e0 c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng c\u1ea7n \u0111\u01b0\u1ee3c xem x\u00e9t tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh li\u1ec7u&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>&nbsp;cho h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i \u0111\u00e3 t\u00ednh \u0111\u1ebfn t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m 25% trong 5 n\u0103m t\u1edbi<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ea1nh tranh gia t\u0103ng v\u1edbi h\u01a1n 25 fintech c\u00f3 v\u1ed1n ho\u1ea1t \u0111\u1ed9ng trong c\u00f9ng ph\u00e2n kh\u00fac<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u0103ng 37% y\u00eau c\u1ea7u quy \u0111\u1ecbnh k\u1ec3 t\u1eeb n\u0103m 2022, t\u0103ng chi ph\u00ed tu\u00e2n th\u1ee7<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>L\u1ecbch s\u1eed bi\u1ebfn \u0111\u1ed9ng 42.5% (so v\u1edbi 22.8% c\u1ee7a Ibovespa)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>28.4% ti\u1ebfp x\u00fac v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf ch\u01b0a c\u00f3 l\u1ee3i nhu\u1eadn (Mexico v\u00e0 Colombia)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c chuy\u00ean gia t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u1eb7c bi\u1ec7t c\u1ea3nh b\u00e1o v\u1ec1 t\u00ecnh tr\u1ea1ng n\u1ee3 x\u1ea5u trong c\u00e1c k\u1ecbch b\u1ea3n suy tho\u00e1i. M\u1eb7c d\u00f9 Nubank \u0111\u00e3 c\u1ea3i thi\u1ec7n c\u00e1c ch\u1ec9 s\u1ed1 r\u1ee7i ro c\u1ee7a m\u00ecnh, gi\u1ea3m NPL +90 ng\u00e0y t\u1eeb 6.2% xu\u1ed1ng 5.1% k\u1ec3 t\u1eeb n\u0103m 2022 (d\u01b0\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a ng\u00e0nh l\u00e0 5.8%), c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng c\u1ee7a n\u00f3 bao g\u1ed3m m\u1ed9t t\u1ef7 l\u1ec7 l\u1edbn h\u01a1n c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng kh\u00f4ng c\u00f3 l\u1ecbch s\u1eed ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng, \u0111\u1ea1i di\u1ec7n cho kh\u1ea3 n\u0103ng d\u1ec5 b\u1ecb t\u1ed5n th\u01b0\u01a1ng trong c\u00e1c chu k\u1ef3 kinh t\u1ebf ti\u00eau c\u1ef1c:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 s\u1ed1<\/th>\n<th>2022<\/th>\n<th>2023<\/th>\n<th>2024 (\u0111\u1ebfn Q3)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NPL +90 ng\u00e0y (th\u1ebb t\u00edn d\u1ee5ng)<\/td>\n<td>6.2%<\/td>\n<td>5.7%<\/td>\n<td>5.1%<\/td>\n<\/tr>\n<tr>\n<td>NPL +90 ng\u00e0y (kho\u1ea3n vay c\u00e1 nh\u00e2n)<\/td>\n<td>4.9%<\/td>\n<td>4.2%<\/td>\n<td>3.8%<\/td>\n<\/tr>\n<tr>\n<td>Ph\u1ee7 s\u00f3ng d\u1ef1 ph\u00f2ng<\/td>\n<td>218%<\/td>\n<td>234%<\/td>\n<td>251%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>So s\u00e1nh v\u1edbi c\u00e1c l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 kh\u00e1c trong ng\u00e0nh t\u00e0i ch\u00ednh Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 \u0111\u00e1nh gi\u00e1 kh\u00e1ch quan li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i so s\u00e1nh v\u1edbi c\u00e1c l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 trong c\u00f9ng ng\u00e0nh. B\u1ea3ng d\u01b0\u1edbi \u0111\u00e2y so s\u00e1nh Nubank v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ch\u00ednh tr\u00ean th\u1ecb tr\u01b0\u1eddng Brazil:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>C\u00f4ng ty<\/th>\n<th>P\/E (2024)<\/th>\n<th>T\u0103ng tr\u01b0\u1edfng doanh thu (YoY)<\/th>\n<th>T\u0103ng tr\u01b0\u1edfng kh\u00e1ch h\u00e0ng (YoY)<\/th>\n<th>ROE<\/th>\n<th>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nubank (NU)<\/td>\n<td>28.5<\/td>\n<td>28.5%<\/td>\n<td>19.4%<\/td>\n<td>12.7%<\/td>\n<td>0.0%<\/td>\n<\/tr>\n<tr>\n<td>Ita\u00fa (ITUB4)<\/td>\n<td>7.3<\/td>\n<td>7.2%<\/td>\n<td>3.1%<\/td>\n<td>20.3%<\/td>\n<td>4.8%<\/td>\n<\/tr>\n<tr>\n<td>Banco do Brasil (BBAS3)<\/td>\n<td>4.9<\/td>\n<td>5.1%<\/td>\n<td>1.8%<\/td>\n<td>21.2%<\/td>\n<td>7.5%<\/td>\n<\/tr>\n<tr>\n<td>Banco Inter (BIDI11)<\/td>\n<td>22.1<\/td>\n<td>19.7%<\/td>\n<td>12.5%<\/td>\n<td>8.4%<\/td>\n<td>0.0%<\/td>\n<\/tr>\n<tr>\n<td>PagSeguro (PAGS)<\/td>\n<td>9.7<\/td>\n<td>14.2%<\/td>\n<td>8.9%<\/td>\n<td>15.6%<\/td>\n<td>1.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>So s\u00e1nh n\u00e0y l\u00e0m n\u1ed5i b\u1eadt s\u1ef1 \u0111\u00e1nh \u0111\u1ed5i c\u1ed5 \u0111i\u1ec3n gi\u1eefa t\u0103ng tr\u01b0\u1edfng v\u00e0 gi\u00e1 tr\u1ecb: trong khi Ita\u00fa v\u00e0 BB cung c\u1ea5p c\u00e1c h\u1ec7 s\u1ed1 th\u1ea5p h\u01a1n 75% v\u00e0 c\u1ed5 t\u1ee9c 5-7.5% m\u1ed7i n\u0103m, Nubank tr\u00ecnh b\u00e0y t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng doanh thu cao h\u01a1n 295%, kh\u00f4ng ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 trung b\u00ecnh, \u0111i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 l\u1ef1a ch\u1ecdn gi\u1eefa 7,500 R$ c\u1ed5 t\u1ee9c h\u00e0ng n\u0103m cho m\u1ed7i 100,000 R$ \u0111\u1ea7u t\u01b0 v\u00e0o BB so v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 v\u1ed1n \u1edf Nubank.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c n\u1ec1n t\u1ea3ng nh\u01b0&nbsp;<b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch so s\u00e1nh cho ph\u00e9p nh\u00e0 \u0111\u1ea7u t\u01b0 h\u00ecnh dung s\u1ef1 \u0111\u00e1nh \u0111\u1ed5i n\u00e0y v\u00e0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh ng\u1eafn v\u00e0 d\u00e0i h\u1ea1n c\u1ee7a h\u1ecd.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho c\u00e1c h\u1ed3 s\u01a1 kh\u00e1c nhau: Khi n\u00e0o mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Xem x\u00e9t ph\u00e2n t\u00edch \u0111\u00e3 tr\u00ecnh b\u00e0y, ch\u00fang ta c\u00f3 th\u1ec3 ph\u00e1c th\u1ea3o c\u00e1c chi\u1ebfn l\u01b0\u1ee3c d\u1ef1a tr\u00ean d\u1eef li\u1ec7u c\u1ee5 th\u1ec3 cho c\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng c\u00f3 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng v\u00e0 t\u1ea7m nh\u00ecn 5+ n\u0103m,&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;trong m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n k\u1ef3. C\u00e1ch ti\u1ebfp c\u1eadn \u0111\u01b0\u1ee3c khuy\u1ebfn ngh\u1ecb b\u1edfi c\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;bao g\u1ed3m:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n b\u1ed5 8-15% danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu fintech, v\u1edbi Nubank chi\u1ebfm t\u1ed1i \u0111a 5% t\u1ed5ng s\u1ed1 \u0111\u1ea7u t\u01b0<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1ef1c hi\u1ec7n c\u00e1c giao d\u1ecbch mua \u0111\u1ecbnh k\u1ef3 h\u00e0ng qu\u00fd \u0111\u1ec3 gi\u1ea3m thi\u1ec3u t\u00e1c \u0111\u1ed9ng c\u1ee7a bi\u1ebfn \u0111\u1ed9ng h\u00e0ng n\u0103m 42.5% \u0111\u00e3 quan s\u00e1t<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Theo d\u00f5i c\u1ee5 th\u1ec3 c\u00e1c ch\u1ec9 s\u1ed1 t\u0103ng tr\u01b0\u1edfng ARPAC (m\u1ee5c ti\u00eau &gt;20% h\u00e0ng n\u0103m) v\u00e0 m\u1edf r\u1ed9ng c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng (m\u1ee5c ti\u00eau &gt;15% h\u00e0ng n\u0103m)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp \u0111\u00e1nh gi\u00e1 l\u1ea1i n\u1eeda n\u0103m v\u1edbi c\u00e1c k\u00edch ho\u1ea1t b\u00e1n n\u1ebfu P\/E v\u01b0\u1ee3t qu\u00e1 35x ho\u1eb7c t\u0103ng tr\u01b0\u1edfng doanh thu gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi 20%<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 c\u1ea3nh b\u00e1o v\u00e0 gi\u00e1m s\u00e1t \u0111\u1ec3 theo d\u00f5i c\u00f3 h\u1ec7 th\u1ed1ng c\u00e1c ch\u1ec9 s\u1ed1 quan tr\u1ecdng n\u00e0y, cho ph\u00e9p \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn thu\u1eadt khi c\u1ea7n thi\u1ebft.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ea3o th\u1ee7<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n v\u00e0 \u01b0u ti\u00ean d\u00f2ng thu nh\u1eadp d\u1ef1 \u0111o\u00e1n,&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;ch\u1ec9 nh\u01b0 m\u1ed9t ph\u1ea7n ti\u1ebfp x\u00fac chi\u1ebfn thu\u1eadt h\u1ea1n ch\u1ebf trong m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a. Khuy\u1ebfn ngh\u1ecb c\u1ee5 th\u1ec3:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gi\u1edbi h\u1ea1n ti\u1ebfp x\u00fac \u1edf m\u1ee9c 2-4% t\u1ed5ng danh m\u1ee5c \u0111\u1ea7u t\u01b0, t\u1ed1t nh\u1ea5t l\u00e0 sau khi \u0111i\u1ec1u ch\u1ec9nh \u00edt nh\u1ea5t 15% t\u1eeb \u0111\u1ec9nh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u1ed5 sung v\u1edbi ph\u00e2n b\u1ed5 10-15% v\u00e0o c\u00e1c ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng c\u00f3 l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c &gt;5% (Ita\u00fa, BB, Santander Brasil)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Xem x\u00e9t c\u00e1c ETF nh\u01b0 FIND11 (Ch\u1ec9 s\u1ed1 Fintech) cung c\u1ea5p ti\u1ebfp x\u00fac \u0111a d\u1ea1ng h\u00f3a v\u1edbi ng\u00e0nh v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% so v\u1edbi c\u1ed5 phi\u1ebfu ri\u00eang l\u1ebb<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c stop-loss \u1edf m\u1ee9c 20% d\u01b0\u1edbi gi\u00e1 v\u00e0o \u0111\u1ec3 b\u1ea3o v\u1ec7 v\u1ed1n<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>H\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0<\/th>\n<th>Ph\u00e2n b\u1ed5 \u0111\u1ec1 xu\u1ea5t v\u00e0o Nubank<\/th>\n<th>Th\u1eddi gian khuy\u1ebfn ngh\u1ecb<\/th>\n<th>Chi\u1ebfn l\u01b0\u1ee3c b\u1ed5 sung<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u00edch c\u1ef1c<\/td>\n<td>10-15%<\/td>\n<td>5+ n\u0103m<\/td>\n<td>C\u00e1c fintech qu\u1ed1c t\u1ebf kh\u00e1c (PayPal, Block, MercadoLibre)<\/td>\n<\/tr>\n<tr>\n<td>Trung b\u00ecnh<\/td>\n<td>5-10%<\/td>\n<td>3-5 n\u0103m<\/td>\n<td>70% ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng + 30% ng\u00e2n h\u00e0ng k\u1ef9 thu\u1eadt s\u1ed1<\/td>\n<\/tr>\n<tr>\n<td>B\u1ea3o th\u1ee7<\/td>\n<td>0-5%<\/td>\n<td>3+ n\u0103m<\/td>\n<td>85% ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng + 15% ETF fintech<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>T\u01b0\u01a1ng lai c\u1ee7a Nubank v\u00e0 ti\u1ec1m n\u0103ng d\u00e0i h\u1ea1n<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi \u0111\u00e1nh gi\u00e1 li\u1ec7u&nbsp;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>&nbsp;trong d\u00e0i h\u1ea1n, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i \u0111\u1ecbnh l\u01b0\u1ee3ng c\u00e1c y\u1ebfu t\u1ed1 c\u1ee5 th\u1ec3 c\u1ee7a s\u1ef1 t\u0103ng tr\u01b0\u1edfng t\u01b0\u01a1ng lai c\u1ee7a c\u00f4ng ty:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>M\u1edf r\u1ed9ng qu\u1ed1c t\u1ebf<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nubank \u0111\u00e3 chinh ph\u1ee5c \u0111\u01b0\u1ee3c 3.8 tri\u1ec7u kh\u00e1ch h\u00e0ng \u1edf Mexico v\u00e0 650 ngh\u00ecn \u1edf Colombia, v\u1edbi t\u0103ng tr\u01b0\u1edfng h\u00e0ng th\u00e1ng l\u1ea7n l\u01b0\u1ee3t l\u00e0 9% v\u00e0 12%. C\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;d\u1ef1 \u0111o\u00e1n r\u1eb1ng m\u1edf r\u1ed9ng qu\u1ed1c t\u1ebf s\u1ebd chi\u1ebfm 32% doanh thu v\u00e0o n\u0103m 2030, v\u1edbi ti\u1ec1m n\u0103ng b\u1ed5 sung 22 t\u1ef7 R$ v\u00e0o gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Qu\u1ed1c gia<\/th>\n<th>D\u00e2n s\u1ed1<\/th>\n<th>Th\u00e2m nh\u1eadp ng\u00e2n h\u00e0ng<\/th>\n<th>Ti\u1ec1m n\u0103ng th\u1ecb tr\u01b0\u1eddng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Brazil<\/td>\n<td>214 tri\u1ec7u<\/td>\n<td>84%<\/td>\n<td>Th\u1ecb tr\u01b0\u1eddng ch\u00ednh \u0111\u00e3 trong giai \u0111o\u1ea1n ki\u1ebfm ti\u1ec1n ti\u00ean ti\u1ebfn<\/td>\n<\/tr>\n<tr>\n<td>Mexico<\/td>\n<td>126 tri\u1ec7u<\/td>\n<td>47%<\/td>\n<td>Cao (3.8 tri\u1ec7u kh\u00e1ch h\u00e0ng, +9% h\u00e0ng th\u00e1ng)<\/td>\n<\/tr>\n<tr>\n<td>Colombia<\/td>\n<td>51 tri\u1ec7u<\/td>\n<td>46%<\/td>\n<td>Trung b\u00ecnh (650 ngh\u00ecn kh\u00e1ch h\u00e0ng, +12% h\u00e0ng th\u00e1ng)<\/td>\n<\/tr>\n<tr>\n<td>C\u00e1c th\u1ecb tr\u01b0\u1eddng LatAm kh\u00e1c<\/td>\n<td>~230 tri\u1ec7u<\/td>\n<td>Bi\u1ebfn \u0111\u1ed5i (38-52%)<\/td>\n<td>M\u1edf r\u1ed9ng d\u1ef1 ki\u1ebfn \u0111\u1ebfn Chile v\u00e0 Peru v\u00e0o n\u0103m 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>\u0110a d\u1ea1ng h\u00f3a s\u1ea3n ph\u1ea9m<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Vi\u1ec7c t\u00edch h\u1ee3p v\u1edbi NuInvest \u0111\u00e3 thu h\u00fat \u0111\u01b0\u1ee3c 18.7 t\u1ef7 R$ t\u00e0i s\u1ea3n m\u1edbi d\u01b0\u1edbi s\u1ef1 qu\u1ea3n l\u00fd v\u00e0o n\u0103m 2024, \u0111\u1ea1i di\u1ec7n cho t\u0103ng tr\u01b0\u1edfng 42% trong 12 th\u00e1ng. \u0110\u1ed9ng th\u00e1i n\u00e0y kh\u00f4ng ch\u1ec9 \u0111a d\u1ea1ng h\u00f3a doanh thu m\u00e0 c\u00f2n bi\u1ebfn \u0111\u1ed5i h\u1ed3 s\u01a1 c\u00f4ng ty t\u1eeb ch\u1ec9 ng\u00e2n h\u00e0ng sang m\u1ed9t h\u1ec7 sinh th\u00e1i t\u00e0i ch\u00ednh ho\u00e0n ch\u1ec9nh, t\u01b0\u01a1ng t\u1ef1 nh\u01b0 m\u00f4 h\u00ecnh \u0111\u00e3 th\u00eam 200 t\u1ef7 USD v\u00e0o gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c fintech ch\u00e2u \u00c1 nh\u01b0 Ant Financial.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>S\u1ef1 m\u1edf r\u1ed9ng c\u1ee7a h\u1ec7 sinh th\u00e1i Nubank hi\u1ec7n bao g\u1ed3m s\u00e1u l\u0129nh v\u1ef1c ch\u00ednh v\u1edbi s\u1ef1 \u0111\u00f3ng g\u00f3p ng\u00e0y c\u00e0ng t\u0103ng v\u00e0o t\u1ed5ng doanh thu:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>L\u0129nh v\u1ef1c<\/th>\n<th>% Doanh thu 2022<\/th>\n<th>% Doanh thu 2024<\/th>\n<th>T\u0103ng tr\u01b0\u1edfng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Th\u1ebb t\u00edn d\u1ee5ng<\/td>\n<td>67%<\/td>\n<td>48%<\/td>\n<td>\u2193 19 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>T\u00e0i kho\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 v\u00e0 PIX<\/td>\n<td>18%<\/td>\n<td>22%<\/td>\n<td>\u2191 4 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>Kho\u1ea3n vay c\u00e1 nh\u00e2n<\/td>\n<td>12%<\/td>\n<td>15%<\/td>\n<td>\u2191 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ea7u t\u01b0 (NuInvest)<\/td>\n<td>2%<\/td>\n<td>8%<\/td>\n<td>\u2191 6 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>B\u1ea3o hi\u1ec3m<\/td>\n<td>1%<\/td>\n<td>4%<\/td>\n<td>\u2191 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<tr>\n<td>Th\u1ecb tr\u01b0\u1eddng v\u00e0 d\u1ecbch v\u1ee5<\/td>\n<td>0%<\/td>\n<td>3%<\/td>\n<td>\u2191 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Nh\u1eefng c\u00e2n nh\u1eafc cu\u1ed1i c\u00f9ng: C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 v\u00e0o n\u0103m 2025 kh\u00f4ng?<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch chi ti\u1ebft nhi\u1ec1u kh\u00eda c\u1ea1nh c\u1ee7a Nubank nh\u01b0 m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0, ch\u00fang t\u00f4i k\u1ebft lu\u1eadn r\u1eb1ng c\u00e2u tr\u1ea3 l\u1eddi cho c\u00e2u h\u1ecfi &#8220;<b>c\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 kh\u00f4ng<\/b>?&#8221; li\u00ean quan tr\u1ef1c ti\u1ebfp \u0111\u1ebfn h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0, th\u1eddi gian v\u00e0 m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nubank \u0111\u1ea1i di\u1ec7n cho m\u1ed9t s\u1ef1 ti\u1ebfp x\u00fac chi\u1ebfn l\u01b0\u1ee3c v\u1edbi t\u01b0\u01a1ng lai c\u1ee7a d\u1ecbch v\u1ee5 t\u00e0i ch\u00ednh k\u1ef9 thu\u1eadt s\u1ed1 \u1edf M\u1ef9 Latinh, v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 85-120% trong n\u0103m n\u0103m t\u1edbi theo d\u1ef1 b\u00e1o c\u1ee7a&nbsp;<b>Pocket Option<\/b>, n\u1ebfu n\u00f3 duy tr\u00ec t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng doanh thu h\u00e0ng n\u0103m tr\u00ean 22% v\u00e0 m\u1edf r\u1ed9ng bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng l\u00ean 25-27%.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u1ea7m nh\u00ecn 5+ n\u0103m v\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng 30-40%,&nbsp;<b>mua c\u1ed5 phi\u1ebfu Nubank l\u00e0 \u0111\u00e1ng gi\u00e1<\/b>&nbsp;xem x\u00e9t ph\u00e2n b\u1ed5 chi\u1ebfn l\u01b0\u1ee3c 5-15% trong m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng, t\u1ed1t nh\u1ea5t l\u00e0 trong c\u00e1c th\u1eddi \u0111i\u1ec3m \u0111i\u1ec1u ch\u1ec9nh d\u01b0\u1edbi P\/E 25. \u0110\u1ed1i v\u1edbi c\u00e1c h\u1ed3 s\u01a1 b\u1ea3o th\u1ee7 h\u01a1n, khuy\u1ebfn ngh\u1ecb ti\u1ebfp x\u00fac h\u1ea1n ch\u1ebf 3-5% ho\u1eb7c c\u00e1c chi\u1ebfn l\u01b0\u1ee3c quy\u1ec1n ch\u1ecdn c\u00f3 b\u1ea3o hi\u1ec3m \u0111\u1ec3 t\u1ea1o thu nh\u1eadp tr\u00ean v\u1ecb tr\u00ed.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch cho ph\u00e9p theo d\u00f5i c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t ch\u00ednh c\u1ee7a Nubank, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u00e1c quy\u1ebft \u0111\u1ecbnh chi\u1ebfn thu\u1eadt-ho\u1ea1t \u0111\u1ed9ng t\u1ea1i c\u00e1c th\u1eddi \u0111i\u1ec3m kh\u00e1c nhau c\u1ee7a chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ti\u1ec1m n\u0103ng gi\u00e1n \u0111o\u1ea1n c\u1ee7a Nubank trong ng\u00e0nh t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00e1c ch\u1ec9 s\u1ed1 c\u1ee5 th\u1ec3: t\u0103ng tr\u01b0\u1edfng doanh thu 28.5%, m\u1edf r\u1ed9ng c\u01a1 s\u1edf kh\u00e1ch h\u00e0ng \u1edf m\u1ee9c 18% m\u1ed7i n\u0103m, v\u00e0 bi\u00ean l\u1ee3i nhu\u1eadn ng\u00e0y c\u00e0ng t\u0103ng. Nh\u01b0 t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty t\u0103ng tr\u01b0\u1edfng cao, lu\u1eadn \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 \u0111\u00f2i h\u1ecfi s\u1ef1 hi\u1ec3u bi\u1ebft v\u1ec1 c\u00e1c r\u1ee7i ro c\u1ee5 th\u1ec3, c\u00e1c k\u1ecbch b\u1ea3n c\u1ea1nh tranh gia t\u0103ng, v\u00e0 \u0111\u1ed9 nh\u1ea1y c\u1ea3m v\u1edbi c\u00e1c chu k\u1ef3 kinh t\u1ebf.<\/p>\n<\/div>\n"},"faq":[{"question":"M\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Nubank tr\u00ean c\u00e1c s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n l\u00e0 NU.","answer":"Nubank \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean S\u00e0n Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n New York (NYSE) v\u1edbi m\u00e3 \"NU\". T\u1ea1i Brazil, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 mua BDRs c\u1ee7a Nubank (Ch\u1ee9ng ch\u1ec9 L\u01b0u k\u00fd Brazil) tr\u00ean B3 v\u1edbi m\u00e3 \"NUBR33\", \u0111\u1ea1i di\u1ec7n cho c\u00e1c ph\u1ea7n c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c giao d\u1ecbch t\u1ea1i M\u1ef9."},{"question":"Nubank c\u00f3 tr\u1ea3 c\u1ed5 t\u1ee9c cho c\u00e1c c\u1ed5 \u0111\u00f4ng c\u1ee7a m\u00ecnh kh\u00f4ng?","answer":"Hi\u1ec7n t\u1ea1i, Nubank kh\u00f4ng tr\u1ea3 c\u1ed5 t\u1ee9c th\u01b0\u1eddng xuy\u00ean cho c\u00e1c c\u1ed5 \u0111\u00f4ng c\u1ee7a m\u00ecnh. Gi\u1ed1ng nh\u01b0 h\u1ea7u h\u1ebft c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng, c\u00f4ng ty t\u00e1i \u0111\u1ea7u t\u01b0 l\u1ee3i nhu\u1eadn c\u1ee7a m\u00ecnh \u0111\u1ec3 t\u00e0i tr\u1ee3 cho vi\u1ec7c m\u1edf r\u1ed9ng ho\u1ea1t \u0111\u1ed9ng, ph\u00e1t tri\u1ec3n s\u1ea3n ph\u1ea9m v\u00e0 thu h\u00fat kh\u00e1ch h\u00e0ng. Chi\u1ebfn l\u01b0\u1ee3c t\u1eadp trung v\u00e0o t\u0103ng tr\u01b0\u1edfng v\u00e0 t\u0103ng gi\u00e1 c\u1ed5 phi\u1ebfu trong d\u00e0i h\u1ea1n, thay v\u00ec ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn."},{"question":"Nh\u1eefng r\u1ee7i ro ch\u00ednh khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Nubank l\u00e0 g\u00ec?","answer":"C\u00e1c r\u1ee7i ro ch\u00ednh bao g\u1ed3m: \u0111\u1ecbnh gi\u00e1 cao \u0111\u00e3 bao g\u1ed3m k\u1ef3 v\u1ecdng trong t\u01b0\u01a1ng lai, s\u1ef1 c\u1ea1nh tranh gia t\u0103ng trong l\u0129nh v\u1ef1c fintech, th\u00e1ch th\u1ee9c ti\u1ec1m n\u0103ng v\u1ec1 quy \u0111\u1ecbnh, r\u1ee7i ro li\u00ean quan \u0111\u1ebfn m\u1edf r\u1ed9ng qu\u1ed1c t\u1ebf v\u00e0o c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi, v\u00e0 nh\u1ea1y c\u1ea3m v\u1edbi c\u00e1c kho\u1ea3n v\u1ee1 n\u1ee3 trong th\u1eddi k\u1ef3 suy tho\u00e1i kinh t\u1ebf."},{"question":"C\u00e1ch mua c\u1ed5 phi\u1ebfu Nubank \u1edf Brazil?","answer":"Ng\u01b0\u1eddi Brazil c\u00f3 th\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o Nubank theo hai c\u00e1ch ch\u00ednh: 1) Mua BDRs (NUBR33) tr\u1ef1c ti\u1ebfp tr\u00ean B3 th\u00f4ng qua b\u1ea5t k\u1ef3 nh\u00e0 m\u00f4i gi\u1edbi qu\u1ed1c gia n\u00e0o; 2) Mua c\u1ed5 phi\u1ebfu g\u1ed1c (NU) tr\u00ean NYSE th\u00f4ng qua c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi cung c\u1ea5p quy\u1ec1n truy c\u1eadp v\u00e0o th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf. C\u00e1c n\u1ec1n t\u1ea3ng nh\u01b0 Pocket Option cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ec3 ph\u00e2n t\u00edch c\u00e1c l\u1ef1a ch\u1ecdn n\u00e0y."},{"question":"Ng\u00e2n h\u00e0ng Nubank c\u00f3 l\u1ee3i nhu\u1eadn kh\u00f4ng? \u0110i\u1ec1u n\u00e0y c\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ti\u1ec1m n\u0103ng c\u1ed5 phi\u1ebfu kh\u00f4ng?","answer":"C\u00f3, Nubank \u0111\u00e3 c\u00f3 l\u00e3i t\u1eeb n\u0103m 2023, v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn ng\u00e0y c\u00e0ng t\u0103ng. Vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i sang c\u00f3 l\u00e3i \u0111\u1ea1i di\u1ec7n cho m\u1ed9t c\u1ed9t m\u1ed1c quan tr\u1ecdng, ph\u00e2n bi\u1ec7t Nubank v\u1edbi nhi\u1ec1u c\u00f4ng ty fintech to\u00e0n c\u1ea7u kh\u00e1c v\u1eabn \u0111ang ho\u1ea1t \u0111\u1ed9ng trong t\u00ecnh tr\u1ea1ng thua l\u1ed7. Y\u1ebfu t\u1ed1 n\u00e0y l\u00e0 t\u00edch c\u1ef1c cho c\u1ed5 phi\u1ebfu, v\u00ec n\u00f3 ch\u1ee9ng minh t\u00ednh kh\u1ea3 thi c\u1ee7a m\u00f4 h\u00ecnh kinh doanh v\u00e0 gi\u1ea3m r\u1ee7i ro c\u1ea7n huy \u0111\u1ed9ng v\u1ed1n m\u1edbi c\u00f3 th\u1ec3 l\u00e0m lo\u00e3ng c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"M\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Nubank tr\u00ean c\u00e1c s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n l\u00e0 NU.","answer":"Nubank \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean S\u00e0n Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n New York (NYSE) v\u1edbi m\u00e3 \"NU\". T\u1ea1i Brazil, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 mua BDRs c\u1ee7a Nubank (Ch\u1ee9ng ch\u1ec9 L\u01b0u k\u00fd Brazil) tr\u00ean B3 v\u1edbi m\u00e3 \"NUBR33\", \u0111\u1ea1i di\u1ec7n cho c\u00e1c ph\u1ea7n c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c giao d\u1ecbch t\u1ea1i M\u1ef9."},{"question":"Nubank c\u00f3 tr\u1ea3 c\u1ed5 t\u1ee9c cho c\u00e1c c\u1ed5 \u0111\u00f4ng c\u1ee7a m\u00ecnh kh\u00f4ng?","answer":"Hi\u1ec7n t\u1ea1i, Nubank kh\u00f4ng tr\u1ea3 c\u1ed5 t\u1ee9c th\u01b0\u1eddng xuy\u00ean cho c\u00e1c c\u1ed5 \u0111\u00f4ng c\u1ee7a m\u00ecnh. Gi\u1ed1ng nh\u01b0 h\u1ea7u h\u1ebft c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng, c\u00f4ng ty t\u00e1i \u0111\u1ea7u t\u01b0 l\u1ee3i nhu\u1eadn c\u1ee7a m\u00ecnh \u0111\u1ec3 t\u00e0i tr\u1ee3 cho vi\u1ec7c m\u1edf r\u1ed9ng ho\u1ea1t \u0111\u1ed9ng, ph\u00e1t tri\u1ec3n s\u1ea3n ph\u1ea9m v\u00e0 thu h\u00fat kh\u00e1ch h\u00e0ng. Chi\u1ebfn l\u01b0\u1ee3c t\u1eadp trung v\u00e0o t\u0103ng tr\u01b0\u1edfng v\u00e0 t\u0103ng gi\u00e1 c\u1ed5 phi\u1ebfu trong d\u00e0i h\u1ea1n, thay v\u00ec ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn."},{"question":"Nh\u1eefng r\u1ee7i ro ch\u00ednh khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Nubank l\u00e0 g\u00ec?","answer":"C\u00e1c r\u1ee7i ro ch\u00ednh bao g\u1ed3m: \u0111\u1ecbnh gi\u00e1 cao \u0111\u00e3 bao g\u1ed3m k\u1ef3 v\u1ecdng trong t\u01b0\u01a1ng lai, s\u1ef1 c\u1ea1nh tranh gia t\u0103ng trong l\u0129nh v\u1ef1c fintech, th\u00e1ch th\u1ee9c ti\u1ec1m n\u0103ng v\u1ec1 quy \u0111\u1ecbnh, r\u1ee7i ro li\u00ean quan \u0111\u1ebfn m\u1edf r\u1ed9ng qu\u1ed1c t\u1ebf v\u00e0o c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi, v\u00e0 nh\u1ea1y c\u1ea3m v\u1edbi c\u00e1c kho\u1ea3n v\u1ee1 n\u1ee3 trong th\u1eddi k\u1ef3 suy tho\u00e1i kinh t\u1ebf."},{"question":"C\u00e1ch mua c\u1ed5 phi\u1ebfu Nubank \u1edf Brazil?","answer":"Ng\u01b0\u1eddi Brazil c\u00f3 th\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o Nubank theo hai c\u00e1ch ch\u00ednh: 1) Mua BDRs (NUBR33) tr\u1ef1c ti\u1ebfp tr\u00ean B3 th\u00f4ng qua b\u1ea5t k\u1ef3 nh\u00e0 m\u00f4i gi\u1edbi qu\u1ed1c gia n\u00e0o; 2) Mua c\u1ed5 phi\u1ebfu g\u1ed1c (NU) tr\u00ean NYSE th\u00f4ng qua c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi cung c\u1ea5p quy\u1ec1n truy c\u1eadp v\u00e0o th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf. C\u00e1c n\u1ec1n t\u1ea3ng nh\u01b0 Pocket Option cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ec3 ph\u00e2n t\u00edch c\u00e1c l\u1ef1a ch\u1ecdn n\u00e0y."},{"question":"Ng\u00e2n h\u00e0ng Nubank c\u00f3 l\u1ee3i nhu\u1eadn kh\u00f4ng? \u0110i\u1ec1u n\u00e0y c\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ti\u1ec1m n\u0103ng c\u1ed5 phi\u1ebfu kh\u00f4ng?","answer":"C\u00f3, Nubank \u0111\u00e3 c\u00f3 l\u00e3i t\u1eeb n\u0103m 2023, v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn ng\u00e0y c\u00e0ng t\u0103ng. Vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i sang c\u00f3 l\u00e3i \u0111\u1ea1i di\u1ec7n cho m\u1ed9t c\u1ed9t m\u1ed1c quan tr\u1ecdng, ph\u00e2n bi\u1ec7t Nubank v\u1edbi nhi\u1ec1u c\u00f4ng ty fintech to\u00e0n c\u1ea7u kh\u00e1c v\u1eabn \u0111ang ho\u1ea1t \u0111\u1ed9ng trong t\u00ecnh tr\u1ea1ng thua l\u1ed7. Y\u1ebfu t\u1ed1 n\u00e0y l\u00e0 t\u00edch c\u1ef1c cho c\u1ed5 phi\u1ebfu, v\u00ec n\u00f3 ch\u1ee9ng minh t\u00ednh kh\u1ea3 thi c\u1ee7a m\u00f4 h\u00ecnh kinh doanh v\u00e0 gi\u1ea3m r\u1ee7i ro c\u1ea7n huy \u0111\u1ed9ng v\u1ed1n m\u1edbi c\u00f3 th\u1ec3 l\u00e0m lo\u00e3ng c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 v\u00e0o n\u0103m 2025 kh\u00f4ng? Ph\u00e2n t\u00edch ho\u00e0n ch\u1ec9nh cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/nubank-stocks-worth-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"C\u1ed5 phi\u1ebfu Nubank c\u00f3 \u0111\u00e1ng gi\u00e1 v\u00e0o n\u0103m 2025 kh\u00f4ng? 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