<p>如果你愿意远赴他乡寻找投资组合中的&#34;新鲜&#34;元素，你可能会对 <strong>NU Holdings</strong>（NU 0.30%）感兴趣。这家快速增长的金融服务提供商是巴西的新星。它正在拉丁美洲扩张，甚至吸引了我们这个时代最伟大的投资者。</p>
<p>该股票并不便宜。鉴于其高昂的估值，市场对其期望值很高。然而，如果你能接受高风险，并且正在寻找一家在这一领域增长速度远远超过美国国内知名公司的金融科技股票，那么考虑在巴西 Nubank 的母公司中建立一小仓位。股价在中十美元交易，所以即使 100 美元也能购买几股。</p>
<h2>全新视角</h2>
<p>大多数投资者熟悉的金融科技股最近表现强劲，但仍然只有四分之一的股价达到了三年前的历史高点。Nu 是这一苦涩中的一抹亮色。自去年初以来，股价已经翻了近四倍，目前交易价格距离上周创下的历史高点仅差 1%。</p>
<p>Nu 在巴西的快速崛起引人注目。Nubank 刚刚在巴西成立十年，但已经有 56% 的成年人口拥有账户。它从其标志性的紫色信用卡开始，为该国大部分未开户的公民提供了一种无年费、起初限额较低的支付选择。一旦打开局面，Nu 就很容易扩展其产品，并利用不断增长的用户群体的消费能力。</p>
<p>没有实体分支机构。一切都通过其同名应用程序管理。</p>
<p>其不断增长的用户群体和日益深化的关系产生了一些非常惊人的增长。Nubank 的用户群体目前达到了 1.045 亿，较去年同期增长了 25%。然而，在此期间，其每月用户平均收入增长了 30%，达到 11.20 美元。</p>
<p>其最新季度收入达 28 亿美元，较去年同期增长 65%。（美国两家最大的金融科技公司在同一季度的营收分别增长了 8% 和 19%。）</p>
<p>让我们转向损益表的另一端。Nu 不是一家负债累累的速度型公司，牺牲近期盈利来制造引人注目的头条新闻。它盈利，底线增长甚至比营收增长更快。</p>
<p>它平均每月花费 7 美元来获取一个新账户，每月服务一个账户的成本仅为 0.90 美元。记住每月用户平均收入 11.20 美元？这意味着新客户在第一个月结束时就会盈利。</p>
<p>调整后的净收入在第二季度飙升了 131%，达到 5.625 亿美元，首次超过 20% 的净利润率。这可能不是最后一次。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTE4NDkvZ2V0dHlsYWR5b25waG9uZS5qcGVnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTE4NDkvZ2V0dHlsYWR5b25waG9uZS5qcGVnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>跨越巴西之外的银行业务</h2>
<p>自 Nu 在墨西哥推出已有五年，一年后进入哥伦比亚。这些市场的动态非常引人注目。</p>
<p>当 Nu 在哥伦比亚推出其平台时 -- 拉丁美洲第三人口大国 -- 回到 2020 年，该国 70% 至 85% 的交易是用现金进行的。尽管该国一半以上的人拥有智能手机，72% 的哥伦比亚人有互联网接入，但该国并未迅速采用信用卡的便利性和安全性。</p>
<p>Nu 在墨西哥和哥伦比亚的推进仍处于早期阶段，目前还没有带动业务增长。然而，随着在新市场扩大其产品范围，扩张正在取得成功。墨西哥和哥伦比亚的客户存款增长速度超过了 Nu 的本国。</p>
<p>Nu 还吸引了一位你应该了解的投资者。沃伦·巴菲特的 <strong>伯克希尔·哈撒韦</strong> 在 2021 年 Nu 准备上市时以 9 美元的价格入场。这并不是巴菲特典型的股票，但伯克希尔·哈撒韦继续持有这些股票。自去年初以来，这显然是业绩最佳的股票之一。</p>
<p>Nu Holdings 并不便宜。目前的市盈率为 47 倍，但如果看到明年分析师的利润目标，这个倍数将降至 24 倍。其市值也超过了巴西最大的传统银行机构，但很明显，Nu 的目标不仅仅是巴西，甚至最终可能不仅仅是拉丁美洲。</p>
<p>在巴西投资是有风险的。金融科技也是有风险的。没有免费的午餐，但无论你看哪里，Nu 似乎都很吸引人，即使在经历了强劲增长之后。</p>

<p>NU Holdings（NU）是一家快速增长的金融科技公司，总部位于巴西，并正在扩张至拉丁美洲其他地区。拥有 1.045 亿用户，并在过去一年增长了 25％，展现出令人瞩目的增长势头，创造了 18 亿美元的营收，同比增长 65％。该公司盈利，净利润率为 20％，并吸引了巴克莱（Berkshire Hathaway）的投资。尽管其估值高达 47 倍的市盈率，但根据明年的盈利目标，市盈率降至 24 倍。Nu 对墨西哥和哥伦比亚的扩张前景看好，使其成为一个具有吸引力的投资机会</p>

<p>If you're willing to travel far to find something &#34;new&#34; for your portfolio, you might want to try <strong>Nu Holdings</strong>(NU 0.30%) on for size. The fast-growing provider of financial services is a rising star in its home country of Brazil. It's early in its expansion across Latin America and even has the greatest investor of our time onboard.</p>
<div class="lb-trans"><p>如果你愿意远赴他乡寻找投资组合中的&#34;新鲜&#34;元素，你可能会对 <strong>NU Holdings</strong>（NU 0.30%）感兴趣。这家快速增长的金融服务提供商是巴西的新星。它正在拉丁美洲扩张，甚至吸引了我们这个时代最伟大的投资者。</p>
</div><p>The stock isn't cheap. Expectations are high, given its lofty valuation. However, if you're OK with a high-risk profile and looking for a fintech stock that's growing substantially faster than the stateside household names in this niche, consider taking a small position in the parent company of Brazil's Nubank. Shares are trading in the mid-teens, so even $100 can buy a handful of shares.</p>
<div class="lb-trans"><p>该股票并不便宜。鉴于其高昂的估值，市场对其期望值很高。然而，如果你能接受高风险，并且正在寻找一家在这一领域增长速度远远超过美国国内知名公司的金融科技股票，那么考虑在巴西 Nubank 的母公司中建立一小仓位。股价在中十美元交易，所以即使 100 美元也能购买几股。</p>
</div><h2>It's a Nu look</h2>
<div class="lb-trans"><h2>全新视角</h2>
</div><p>The fintech stocks that most investors know are rallying lately but still trade for a quarter of their all-time highs set three summers ago. Nu is a welcome exception to the gruel. The stock has nearly quadrupled since the start of last year, currently trading within 1% of the all-time high the shares scored last week.</p>
<div class="lb-trans"><p>大多数投资者熟悉的金融科技股最近表现强劲，但仍然只有四分之一的股价达到了三年前的历史高点。Nu 是这一苦涩中的一抹亮色。自去年初以来，股价已经翻了近四倍，目前交易价格距离上周创下的历史高点仅差 1%。</p>
</div><p>Nu's rapid ascent in Brazil is turning heads. Nubank launched in Brazil just a decade ago, but 56% of the country's adult population already have an account. It started with its now iconic purple credit card that offered the country's largely unbanked citizenry a payment option with no annual fees and often low spending limits at the start. With a foot in the door, it's been easy for Nu to expand its offerings and cash in on the improving spending power of its growing base.</p>
<div class="lb-trans"><p>Nu 在巴西的快速崛起引人注目。Nubank 刚刚在巴西成立十年，但已经有 56% 的成年人口拥有账户。它从其标志性的紫色信用卡开始，为该国大部分未开户的公民提供了一种无年费、起初限额较低的支付选择。一旦打开局面，Nu 就很容易扩展其产品，并利用不断增长的用户群体的消费能力。</p>
</div><p>There are no physical branches. Everything is managed through its namesake app.</p>
<div class="lb-trans"><p>没有实体分支机构。一切都通过其同名应用程序管理。</p>
</div><p>The combination of its growing audience and the deepening relationship is generating some pretty explosive growth. Nubank's user base currently stands at 104.5 million, a 25% increase over the past year. However, its average monthly revenue per user has risen 30% to $11.20 in that time.</p>
<div class="lb-trans"><p>其不断增长的用户群体和日益深化的关系产生了一些非常惊人的增长。Nubank 的用户群体目前达到了 1.045 亿，较去年同期增长了 25%。然而，在此期间，其每月用户平均收入增长了 30%，达到 11.20 美元。</p>
</div><p>It stacks up to deliver $2.8 billion in its latest quarter, a 65% surge over the past year. (The two largest U.S. fintech players grew their top lines by 8% and 19% for the same quarter.)</p>
<div class="lb-trans"><p>其最新季度收入达 28 亿美元，较去年同期增长 65%。（美国两家最大的金融科技公司在同一季度的营收分别增长了 8% 和 19%。）</p>
</div><p>Let's flip to the other end of the income statement. Nu isn't some deficit-saddled speedster sacrificing near-term profitability for making land-grab headlines. It's in the black, and the bottom line is growing even faster than the top line.</p>
<div class="lb-trans"><p>让我们转向损益表的另一端。Nu 不是一家负债累累的速度型公司，牺牲近期盈利来制造引人注目的头条新闻。它盈利，底线增长甚至比营收增长更快。</p>
</div><p>It spends an average of just $7 a month to acquire a new account, and costs just $0.90 a month to service an account. Remember that $11.20 a month average in revenue per user? It means that a new customer is profitable by the end of the first month.</p>
<div class="lb-trans"><p>它平均每月花费 7 美元来获取一个新账户，每月服务一个账户的成本仅为 0.90 美元。记住每月用户平均收入 11.20 美元？这意味着新客户在第一个月结束时就会盈利。</p>
</div><p>Adjusted net income skyrocketed 131% to $562.5 million in the second quarter, topping a 20% net margin for the first time. It probably won't be the last time.</p>
<div class="lb-trans"><p>调整后的净收入在第二季度飙升了 131%，达到 5.625 亿美元，首次超过 20% 的净利润率。这可能不是最后一次。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTE4NDkvZ2V0dHlsYWR5b25waG9uZS5qcGVnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F791849%2Fgettyladyonphone.jpeg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Banking outside of Brazil</h2>
<div class="lb-trans"><h2>跨越巴西之外的银行业务</h2>
</div><p>It's been five years since Nu rolled out in Mexico, and it entered Colombia a year later. The dynamics are compelling.</p>
<div class="lb-trans"><p>自 Nu 在墨西哥推出已有五年，一年后进入哥伦比亚。这些市场的动态非常引人注目。</p>
</div><p>When Nu launched its platform in Colombia -- Latin America's third-most populous nation -- back in 2020, 70% to 85% of the country's transactions were being done in cash. Despite more than half of the country owning a smartphone and 72% of Colombians having internet access, the country wasn't hopping on the convenience and security of credit cards.</p>
<div class="lb-trans"><p>当 Nu 在哥伦比亚推出其平台时 -- 拉丁美洲第三人口大国 -- 回到 2020 年，该国 70% 至 85% 的交易是用现金进行的。尽管该国一半以上的人拥有智能手机，72% 的哥伦比亚人有互联网接入，但该国并未迅速采用信用卡的便利性和安全性。</p>
</div><p>Nu's push into Mexico and Colombia is still early, and it's not moving the needle just yet. However, as it broadens its product offerings to include more banking products in new markets, the expansion is succeeding. Customer deposits in Mexico and Colombia are growing faster than in Nu's home country.</p>
<div class="lb-trans"><p>Nu 在墨西哥和哥伦比亚的推进仍处于早期阶段，目前还没有带动业务增长。然而，随着在新市场扩大其产品范围，扩张正在取得成功。墨西哥和哥伦比亚的客户存款增长速度超过了 Nu 的本国。</p>
</div><p>Nu also drew some interest from one investor you should know. Warren Buffett's <strong>Berkshire Hathaway</strong> got in just as the Brazilian fintech was ready to go public at $9 in 2021. It's not your typical Buffett stock, but Berkshire Hathaway continues to own the shares. It's obviously been a top performer on the scorecard since the start of last year.</p>
<div class="lb-trans"><p>Nu 还吸引了一位你应该了解的投资者。沃伦·巴菲特的 <strong>伯克希尔·哈撒韦</strong> 在 2021 年 Nu 准备上市时以 9 美元的价格入场。这并不是巴菲特典型的股票，但伯克希尔·哈撒韦继续持有这些股票。自去年初以来，这显然是业绩最佳的股票之一。</p>
</div><p>Nu Holdings isn't cheap. It's currently trading for 47 times trailing earnings, but that multiple drops to 24 if you look out to next year's analyst profit target. Its market cap is also larger than Brazil's biggest traditional banking institution, but it's clear that Nu is setting its sights on more than just Brazil, if not eventually more than just Latin America.</p>
<div class="lb-trans"><p>Nu Holdings 并不便宜。目前的市盈率为 47 倍，但如果看到明年分析师的利润目标，这个倍数将降至 24 倍。其市值也超过了巴西最大的传统银行机构，但很明显，Nu 的目标不仅仅是巴西，甚至最终可能不仅仅是拉丁美洲。</p>
</div><p>Investing in Brazil is risky. Fintech is risky. There's no free lunch, but everywhere you look, Nu seems pretty appetizing, even after its strong run.</p>
<div class="lb-trans"><p>在巴西投资是有风险的。金融科技也是有风险的。没有免费的午餐，但无论你看哪里，Nu 似乎都很吸引人，即使在经历了强劲增长之后。</p>
</div>

目前用 100 美元购买的最佳成长股