Is TOP or XP more undervalued in 2026?

CirclFi compares TOP Financial Group Limited (TOP) and XP Inc. (XP) using 13 institutional-grade valuation models. TOP has a Quality of Company score of 2.0/10 while XP scores 2.0/10.

Which is a better buy — TOP or XP?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do TOP and XP valuations compare?

TOP at $0.93 and XP at $16.96 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

TOP vs XP Valuation Comparison 2026 — Intrinsic Value Analysis

TOP

Capital Markets

TOP Financial Group Limited

Quality

2.0

out of 10

Value Trap

—

Price

$0.93

Last close

Models

11/13

Active

XP

Capital Markets

XP Inc.

Quality

2.0

out of 10

Value Trap

—

Price

$16.96

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	TOP Fair Value	TOP Upside	XP Fair Value	XP Upside
Bayesian DCF	Intrinsic	$0.18	-80.2%	$5.01	-70.5%
Earnings Power Value	Intrinsic	$0.70	-9.9%	$8.95	-54.7%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for TOP vs XP — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

TOP vs XP — Which Stock Is More Undervalued?

TOP scores higher with a 2.0/10 quality rating vs XP's 2.0/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing TOP Financial Group Limited (TOP) and XP Inc. (XP) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

TOP currently trades at $0.93 with a QOC of 2.0/10, while XP trades at $16.96 with a QOC of 2.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).