HOOD · Robinhood Markets, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.07B | - | $1.27B | $989.00M | $927.00M | - | $637.00M | $682.00M | $618.00M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $174.00M | - | $185.00M | $132.00M | $133.00M | - | $133.00M | $134.00M | $118.00M | - |
| Total Operating Expenses | $656.00M | - | $639.00M | $550.00M | $557.00M | - | $486.00M | $493.00M | $460.00M | - |
| D&A | $23.00M | - | - | - | $20.00M | - | - | - | $17.00M | - |
| Operating Income | $411.00M | - | $634.00M | $442.00M | $371.00M | - | $153.00M | $191.00M | $162.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $65.00M | - | $78.00M | $56.00M | $35.00M | - | $3.00M | $3.00M | $5.00M | - |
| Net Income | $350.00M | - | $556.00M | $386.00M | $336.00M | - | $150.00M | $188.00M | $157.00M | - |
| EPS - Basic | $0.39 | - | $0.63 | $0.44 | $0.38 | - | $0.17 | $0.21 | $0.18 | - |
| EPS - Diluted | $0.38 | - | $0.61 | $0.42 | $0.37 | - | $0.17 | $0.21 | $0.18 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.01B | $4.26B | $4.33B | $4.16B | $4.42B | $4.33B | $4.61B | $4.52B | $4.72B | $4.83B |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $43.41B | $36.30B | $39.98B | $33.83B | $26.21B | $25.10B | $42.60B | $40.71B | $45.55B | $31.79B |
| Total Assets | $45.47B | $38.14B | $41.45B | $35.32B | $27.52B | $26.19B | $43.24B | $41.35B | $46.09B | $32.33B |
| Current Liabilities | $35.55B | $28.77B | $32.76B | $27.12B | $19.43B | $18.10B | $35.96B | $34.14B | $39.11B | $25.55B |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $35.79B | $28.99B | $32.88B | $27.25B | $19.56B | $18.21B | $36.04B | $34.22B | $39.20B | $25.64B |
| Stockholders' Equity | $9.69B | $9.15B | $8.57B | $8.07B | $7.95B | $7.97B | $7.21B | $7.12B | $6.88B | $6.70B |
| Retained Earnings | ($1.80B) | ($2.15B) | ($2.76B) | ($3.31B) | ($3.70B) | ($4.04B) | ($4.95B) | ($5.10B) | ($5.29B) | ($5.45B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.04B | - | - | - | $642.00M | - | - | - | ($623.00M) | - |
| Investing Cash Flow | ($284.00M) | - | - | - | $9.00M | - | - | - | ($47.00M) | - |
| Financing Cash Flow | $180.00M | - | - | - | ($417.00M) | - | - | - | ($30.00M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 38.5% | - | 49.8% | 44.7% | 40.0% | - | 24.0% | 28.0% | 26.2% | - |
| EBITDA margin | 40.7% | - | - | - | 42.2% | - | - | - | 29.0% | - |
| Net margin | 32.8% | - | 43.6% | 39.0% | 36.2% | - | 23.5% | 27.6% | 25.4% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 16.3% | - | 14.5% | 13.3% | 14.3% | - | 20.9% | 19.6% | 19.1% | - |
| Effective tax rate | 15.7% | - | 12.3% | 12.7% | 9.4% | - | 2.0% | 1.6% | 3.1% | - |
| Return on assets | 0.8% | - | 1.3% | 1.1% | 1.2% | - | 0.3% | 0.5% | 0.3% | - |
| Return on equity | 3.6% | - | 6.5% | 4.8% | 4.2% | - | 2.1% | 2.6% | 2.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.22 | 1.26 | 1.22 | 1.25 | 1.35 | 1.39 | 1.18 | 1.19 | 1.16 | 1.24 |
| Quick ratio | 1.22 | 1.26 | 1.22 | 1.25 | 1.35 | 1.39 | 1.18 | 1.19 | 1.16 | 1.24 |
| Cash ratio | 0.14 | 0.15 | 0.13 | 0.15 | 0.23 | 0.24 | 0.13 | 0.13 | 0.12 | 0.19 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 4.69 | 4.17 | 4.84 | 4.38 | 3.46 | 3.28 | 6.00 | 5.81 | 6.69 | 4.83 |
| Liabilities / Assets | 0.79 | 0.76 | 0.79 | 0.77 | 0.71 | 0.70 | 0.83 | 0.83 | 0.85 | 0.79 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | - | 0.03 | 0.03 | 0.03 | - | 0.01 | 0.02 | 0.01 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 182.4x | - | 234.7x | 222.9x | 112.5x | - | 137.8x | 108.1x | 111.8x | - |
| P / B | 6.5x | - | 15.3x | 10.5x | 4.8x | - | 2.9x | 2.9x | 2.6x | - |
| P / S | 59.4x | - | 103.2x | 86.1x | 40.8x | - | 33.3x | 30.1x | 29.2x | - |
| EV / EBITDA | 134.6x | - | - | - | 85.5x | - | - | - | 74.4x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 15.1% | - | 100.0% | 45.0% | 50.0% | - | 36.4% | 40.3% | 40.1% | - |
| Revenue CAGR (3y) | 34.2% | - | 52.2% | 46.0% | 45.8% | - | 20.4% | 6.5% | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 10.8% | - | 314.4% | 131.4% | 129.0% | - | - | 768.2% | - | - |
| Net income growth (YoY) | 4.2% | - | 270.7% | 105.3% | 114.0% | - | - | 652.0% | - | - |
| EPS growth (YoY) | 2.7% | - | 258.8% | 100.0% | 105.6% | - | - | 600.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 21.8% | 14.8% | 18.9% | 13.3% | 15.5% | 19.1% | 9.6% | -0.9% | -2.3% | -3.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$5.92B totalTransaction Based Revenues$2.63B · 44.4%
Options$1.12B · 19.0%
Cryptocurrencies$901.00M · 15.2%
Financial Service Other$331.00M · 5.6%
Equities$302.00M · 5.1%
Other Transaction Based Revenues$302.00M · 5.1%
Gold Subscription Revenues$179.00M · 3.0%
Other Revenue$89.00M · 1.5%
Proxy Revenues$63.00M · 1.1%
Peer comparison
Same SIC group: Security Brokers, Dealers & Flotation Companies
Comparing Robinhood Markets against the 5 most active filers in the same SIC group.