• XP average ebitda margin for 2024 was 35.67%, a 7.44% increase from 2023.
• XP average ebitda margin for 2023 was 33.2%, a 0.3% increase from 2022.
• XP average ebitda margin for 2022 was 33.1%, a 2.76% increase from 2021.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.