The 3 Most Important Metrics to Watch for Nu Holdings. And No, It's Not Customer Numbers.

Nu Holdings (NU) posted its first quarterly profit above $1 billion in Q2 2026, and the bigger trading question is which metrics now drive the stock. The Motley Fool piece argues customer count, now 139 million across Brazil, Mexico, and Colombia, matters less than three other gauges.

ARPAC: $17, up from $13 year-over-year. Average Revenue Per Active Customer measures how much each active user generates. A jump from $13 to $17 is roughly a 31% increase, which suggests NU is monetizing its base more deeply rather than relying only on adding users. (Interpretation: that rate of growth is what separates a maturing bank from a pure user-acquisition story.)

Return on Equity: 33% annualized. This is the efficiency check on how well NU converts its capital base into profit, and it frames the $1 billion quarter as more than a one-off headline.

90+ day non-performing loan ratio: 6.9%. This is the credit-risk gauge. The article flags it as the one to monitor as the lending portfolio grows. (Interpretation: rising loan volume with a steady or falling ratio would support the bull case; a climbing ratio would challenge it.)