Robinhood Markets, Inc. (HOOD)

Financials · Investment Banking & Brokerage · US stock · S&P 500 component

$96.58 ▼ -5.35 (5.25%)

At close 22 Oct 2026 · USD · Volume 19,127,582

Compare with GS

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueOvervalued

$73 −24.8% to fair value

$36fair band $62–$88$109

Day's range

$95.62 – $101.38

52-week range

$63.52 – $150.47

About Robinhood Markets, Inc.

Robinhood Markets runs a mobile and web investing platform for retail customers. Users can trade stocks, exchange-traded funds, options and cryptocurrencies, save for retirement, and use cash management and credit card products, with a paid Gold subscription offering extra features. The company aims to make investing accessible to everyday customers and operates in the United States and some other markets.

Robinhood earns transaction-based revenue from options, equities and crypto trading, net interest income on customer cash and margin loans, and subscription fees. In the last twelve months revenue was $4.9 billion, and it has grown at 48.8% a year across the last three years. The operating margin is 49.0%, and the business earns a profit of 47% on the capital invested in it. No dividend is paid. On the site's X-Ray Score it receives 45 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $63.52 – $150.47Volume 19,127,582Daily, split-adjusted

Vitals

Market cap$88.1B

52-week range$63.52 – $150.47

Volume (last day)19,127,582

P/E (TTM)42.7

EBIT / EV yield2.9%

Free-cash-flow yield–

Dividend yieldNo dividend

Revenue (TTM)$4.9B

Net income (TTM)$2.1B

Operating margin49.0%

Return on capital47.3%

Debt incl. leasesData missing

Cash & securities$5.4B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$73middle half of models $60 – $81

Overvalued −24.8% to fair value

Average of the 3 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $97

Undervalued < $62Fair $62 – $88Overvalued > $88

P/E multiple

$98

P/B multiple

$56

P/S multiple

$64

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, priced high

Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 46 The price is not above fair value $73 fair value Debt looks manageable Revenue has been growing 48.8% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

3/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield2.9%

Fair value vs price0.8×

Growth Strong

91/100

Growing faster than most of its sector.

See the numbers →

Revenue growth (3y)48.8%

Growth consistency100%

Profitability Fair

52/100

Returns on capital are typical for its sector.

See the numbers →

Return on invested capital47.3%

Operating margin49.0%

Financial health Weak

40/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score4 / 9

Interest coverNo interest cost

Dividends None

–/100

Pays no dividend.

See the numbers →

Quarterly results: last 6 quarters

+50.0%

Mar '25

+45.0%

Jun '25

+100.0%

Sep '25

+26.5%

Dec '25

+15.1%

Mar '26

+32.3%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $1.3B, diluted EPS $0.62.

Compare with peers

SCHW Schwab Charles Corp68 RJF Raymond James Financia...55 IBKR Interactive Brokers Gr...51 GS Goldman Sachs Group In...49

Other Investment Banking & Brokerage companies by X-Ray Score.

SWOT analysis: Robinhood Markets, Inc.

Strengthsinside the company

Return on invested capital is 47.3%, against a median of 13.4% for industry peers.
Operating margin of 49.0% is well above the 28.9% median of industry peers, a sign of pricing power or lower costs.
Revenue has grown 48.8% a year over three years (median 12.1% for industry peers).
Operating profit covers interest 50x, so debt costs are a small drag.

Weaknessesinside the company

Altman Z-score of 1.6 is in the zone linked with financial distress in past studies.

Opportunitiesvaluation and setting

Our Market Compass rates the backdrop for Financials as favourable.

Threatsvaluation and setting

Trades at 42.5x earnings, 212% above the 13.6x median of industry peers, so the price already assumes better results.
The price is 25% above our fair value estimate, so there is little room for disappointment.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare HOOD with peers and sector

Medians of 5 Investment Banking & Brokerage peers and of 70 Financials stocks in our universe. Largest peers (X-Ray Score): MS 34, GS 49, SCHW 68, IBKR 51, RJF 55.

Metric	HOOD	Peers	Sector
X-Ray Score (out of 100)	45	51	50
Valuation	3	48	52
Growth	91	66	54
Profitability	52	39	48
Financial health	40	58	51
Dividends	–	59	54

Sector leaders: highest X-Ray Score in Financials

HOOD ranks #51 of 71 in Financials and #5 of 6 in Investment Banking & Brokerage by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 PGR Progressive Corp	69
#2 SCHW Schwab Charles Corp	68
#3 AMP Ameriprise Financial Inc	67
#4 AIZ Assurant, Inc.	66
#5 PYPL PayPal Holdings, Inc.	65
…
#51 HOOD Robinhood Markets, Inc. (this stock)	45

Metric	HOOD	Peers	Sector
P/E ratio	42.5x	13.6x	13.7x
PEG ratio	–	0.88	1.20
Price / book	9.2x	2.5x	2.2x
Price / sales	17.9x	6.1x	3.1x
EV / EBITDA	33.1x	9.6x	10.7x
Price / free cash flow	–	–	17.0x
Dividend yield	–	1.4%	1.9%
Gap to our fair value	−24.8%	+3.6%	+5.9%

Metric	HOOD	Peers	Sector
Price change, 1 month	−22.3%	−8.1%	+4.1%
Price change, 3 months	−7.6%	−11.9%	+0.1%
Price change, 6 months	+9.2%	+0.4%	+6.8%
Price change, 1 year	−24.1%	+19.0%	+14.9%

Metric	HOOD	Peers	Sector
Market value	$88.1B	$159.0B	$46.7B
Revenue (last 12 months)	$4.9B	$17.0B	$15.7B
EBITDA (last 12 months)	$2.5B	$21.8B	$4.7B
Net income (last 12 months)	$2.1B	$4.9B	$3.3B
Free cash flow (last 12 months)	–	$1.4B	$2.6B

Metric	HOOD	Peers	Sector
Revenue growth, last year	+51.6%	+22.0%	+6.8%
Revenue growth, 3 years a year	+48.8%	+12.1%	+8.1%
EPS growth, 3 years a year	–	+13.8%	+12.7%
Free cash flow growth, 3 years a year	–	–	+12.7%
Dividend growth	–	+12.7%	+5.4%

Metric	HOOD	Peers	Sector
Gross margin	–	–	54.1%
EBITDA margin	50.8%	–	31.1%
Operating margin	49.0%	–	28.9%
Net margin	42.0%	13.6%	20.9%
Return on invested capital	47.3%	–	13.4%
Return on equity	21.7%	17.3%	15.3%

Metric	HOOD	Peers	Sector
Net debt / EBITDA	–	–	1.1x
Interest cover	50.0x	50.0x	50.0x
Current ratio	1.2x	–	1.0x
Piotroski F-score (0 to 9)	4	–	7

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for HOOD

Each factor is rated by where HOOD stands among the 71 Financials stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 4 Good · 0 Average · 3 Bad of 7 Growth: 2 · 0 · 0 Profitability: 2 · 0 · 0 Valuation: 0 · 0 · 3

Factor	HOOD	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+48.8%	Good beats 99%	+8.3%	–	–
Revenue growth, last year	+51.6%	Good beats 98%	+6.9%	+51.6%	≈ In line
Profitability
Net margin	42.0%	Good beats 88%	21.8%	-29.0%	▲ Better
Return on equity	21.7%	Good beats 75%	15.7%	-8.1%	▲ Better
Valuation
P/E ratio	42.5x	Bad beats 5%	13.8x	–	–
Price / book	9.2x	Bad beats 5%	2.2x	1.7x	▼ Worse
Price / sales	17.9x	Bad beats 5%	3.1x	6.1x	▼ Worse

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings), and banks and insurers are rated only on the factors that apply to them. A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 6 Good · ● 0 Average · ● 5 Bad

Cash quality

Earnings backed by cashBad

Risk models

Altman Z''Bad

Piotroski F-ScoreBad

Growth

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioGood

Interest coverGood

Valuation

Fair value vs priceBad

EBIT / EV yieldBad

Profitability

Return on invested capitalGood

Operating marginGood

Each check is graded against the company's sector, not a fixed number. Checklist score 54/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$1.8B	$1.4B	$1.9B	$3.0B	$4.5B
Operating income	−$3.7B	−$1.0B	−$533M	$1.1B	$2.1B
Net income	−$3.7B	−$1.0B	−$541M	$1.4B	$1.9B
Operating cash flow	−$885M	−$852M	$1.2B	−$157M	$1.6B
Operating margin	-203.0%	-75.6%	-28.6%	36.1%	47.1%
Free cash flow	−$948M	−$880M	–	–	–
Diluted EPS	$-7.49	$-1.17	$-0.61	$1.56	$2.05

Fiscal years, from SEC filings.

Technical summary

Daily

Bearish

4 bullish · 1 neutral · 11 bearish

Weekly

Neutral

5 bullish · 1 neutral · 6 bearish

Monthly

Bullish

5 bullish · 1 neutral · 2 bearish

Moving averages (daily)

SMA 10	102.6	Bearish
EMA 10	102.1	Bearish
SMA 20	107.9	Bearish
EMA 20	105.7	Bearish
SMA 50	109.0	Bearish
EMA 50	106.8	Bearish
SMA 100	103.8	Bearish
EMA 100	103.3	Bearish
SMA 200	93.36	Bullish
EMA 200	99.11	Bearish

Oscillators (daily)

RSI (14)	37.78	Neutral
MACD (12, 26)	-3.63	Bearish
Momentum (12)	-13.77	Bearish
Stochastic %K (14)	9.48	Bullish
Williams %R (14)	-90.52	Bullish
CCI (20)	-117.1	Bullish

Pivot points (classic, last session)

88.59

92.11

94.34

Pivot

97.86

100.1

103.6

105.9

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

ETFs that hold HOOD

ETF	Share of the fund
ULTY YieldMax Ultra Option Income Strategy	4.31%
ARKK ARK Innovation	3.64%
XOVR ERShares Private-Public Crossover	3.55%
GRNY Fundstrat Granny Shots US Large Cap	2.61%
JTEK JPMorgan U.S. Tech Leaders	1.97%
SPHB Invesco S&P 500 High Beta	1.95%
IWP iShares Russell Mid-Cap Growth	1.75%
VOT Vanguard Mid-Cap Growth	1.75%

The eight funds with the largest weight in HOOD among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.