Robinhood Markets (HOOD) Financials

$77.03 +0.48 (+0.63%)

Closing price 05/5/2026 04:00 PM Eastern

Extended Trading

$78.72 +1.69 (+2.20%)

As of 08:31 AM Eastern

Annual Income Statements for Robinhood Markets

This table shows Robinhood Markets' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-107	7.00	-3,687	-1,028	-541	1,411	1,883
Consolidated Net Income / (Loss)	-107	7.00	-3,687	-1,028	-541	1,411	1,883
Net Income / (Loss) Continuing Operations	-107	7.00	-3,687	-1,028	-541	1,411	1,883
Total Pre-Tax Income	-108	13	-3,685	-1,027	-533	1,064	2,108
Total Operating Income	-107	13	-1,641	-1,011	-536	1,054	2,094
Total Gross Profit	278	958	1,815	1,322	1,822	2,875	4,359
Total Revenue	278	958	1,815	1,358	1,865	2,951	4,473
Operating Revenue	278	958	1,815	1,358	1,865	2,951	4,473
Total Cost of Revenue	0.00	0.00	0.00	36	43	76	114
Other Cost of Revenue	-	-	-	36	43	76	114
Total Operating Expenses	384	945	3,456	2,333	2,401	1,897	2,379
Selling, General & Admin Expense	119	430	1,739	1,173	1,285	567	758
Marketing Expense	125	186	325	103	122	272	399
Research & Development Expense	95	215	1,234	878	805	818	897
Other Operating Expenses / (Income)	45	114	158	179	146	164	211
Total Other Income / (Expense), net	-0.66	0.00	-2,044	-16	3.00	10	14
Other Income / (Expense), net	-0.66	0.00	-2,044	-16	3.00	10	14
Income Tax Expense	-1.02	6.00	2.00	1.00	8.00	-347	225
Preferred Stock Dividends Declared	-	-	-	-	0.00	0.00	0.00
Basic Earnings per Share	($0.48)	$0.01	($7.49)	($1.17)	($0.61)	$1.60	$2.12
Weighted Average Basic Shares Outstanding	221.66M	225.75M	492.38M	878.63M	890.86M	881.11M	888.50M
Diluted Earnings per Share	($0.48)	$0.01	($7.49)	($1.17)	($0.61)	$1.56	$2.05
Weighted Average Diluted Shares Outstanding	221.66M	245.00M	492.38M	878.63M	890.86M	906.17M	918.78M
Weighted Average Basic & Diluted Shares Outstanding	-	-	867.99M	896.05M	874.55M	885.46M	900.31M

This table shows Robinhood Markets' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-85	30	157	188	150	916	336	386	556	605	350
Consolidated Net Income / (Loss)	-85	30	157	188	150	916	336	386	556	605	350
Net Income / (Loss) Continuing Operations	-85	30	157	188	150	916	336	386	556	605	346
Total Pre-Tax Income	-75	29	162	191	153	558	371	442	634	661	411
Total Operating Income	-73	26	158	189	151	556	370	439	635	650	411
Total Gross Profit	467	428	602	664	614	938	903	961	1,248	1,247	1,031
Total Revenue	467	471	618	682	637	1,014	927	989	1,274	1,283	1,067
Operating Revenue	467	471	618	682	637	1,014	927	989	1,274	1,283	1,067
Total Cost of Revenue	0.00	43	16	18	23	76	24	28	26	36	36
Other Cost of Revenue	-	-	16	18	23	-	24	28	26	36	36
Total Operating Expenses	540	402	444	493	486	382	557	550	639	657	656
Selling, General & Admin Expense	271	130	146	162	160	42	164	161	218	215	212
Marketing Expense	28	43	67	64	59	82	105	99	102	93	107
Research & Development Expense	202	197	196	209	205	208	214	214	237	232	241
Other Operating Expenses / (Income)	39	32	35	40	39	50	50	48	56	57	60
Total Other Income / (Expense), net	-2.00	3.00	4.00	2.00	2.00	2.00	1.00	3.00	-1.00	11	0.00
Other Income / (Expense), net	-2.00	3.00	4.00	2.00	2.00	2.00	1.00	3.00	-1.00	11	0.00
Income Tax Expense	10	-1.00	5.00	3.00	3.00	-358	35	56	78	56	65
Preferred Stock Dividends Declared	-	-	-	-	-	-	0.00	-	-	-	-4.00
Basic Earnings per Share	($0.09)	$0.02	$0.18	$0.21	$0.17	$1.04	$0.38	$0.44	$0.63	$0.67	$0.39
Weighted Average Basic Shares Outstanding	895.11M	890.86M	875.32M	881.08M	884.11M	881.11M	884.58M	882.15M	889.26M	888.50M	899.15M
Diluted Earnings per Share	($0.09)	$0.02	$0.18	$0.21	$0.17	$1.00	$0.37	$0.42	$0.61	$0.65	$0.38
Weighted Average Diluted Shares Outstanding	895.11M	890.86M	895.78M	904.49M	905.54M	906.17M	909.24M	909.13M	917.94M	918.78M	915.04M
Weighted Average Basic & Diluted Shares Outstanding	864.78M	874.55M	878.84M	884.68M	883.98M	885.46M	882.47M	888.68M	899.19M	900.31M	900.51M

This table details how cash moves in and out of Robinhood Markets' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1,623	3,120	4,080	-913	-11	-651	1,198
Net Cash From Operating Activities	1,260	1,876	-885	-852	1,181	-157	1,638
Net Cash From Continuing Operating Activities	1,260	1,876	-885	-852	1,181	-157	1,638
Net Income / (Loss) Continuing Operations	-107	7.00	-3,687	-1,028	-541	1,411	1,883
Consolidated Net Income / (Loss)	-107	7.00	-3,687	-1,028	-541	1,411	1,883
Depreciation Expense	5.44	10	26	61	71	77	86
Non-Cash Adjustments To Reconcile Net Income	703	1,091	5,596	-1,587	1,529	1,883	5,669
Changes in Operating Assets and Liabilities, net	658	768	-2,820	1,702	122	-3,528	-6,000
Net Cash From Investing Activities	-12	-32	-238	-60	-582	-148	141
Net Cash From Continuing Investing Activities	-12	-32	-238	-60	-582	-148	141
Purchase of Property, Plant & Equipment	-12	-32	-83	-57	-21	-50	-54
Acquisitions	0.00	0.00	-125	0.00	-93	-9.00	794
Purchase of Investments	0.00	0.00	-27	-25	-760	-1,305	-5,439
Sale and/or Maturity of Investments	-	0.00	0.00	42	282	658	400
Other Investing Activities, net	0.14	0.00	-3.00	-20	10	558	4,440
Net Cash From Financing Activities	375	1,276	5,203	0.00	-610	-345	-590
Net Cash From Continuing Financing Activities	375	1,276	5,203	0.00	-610	-345	-590
Repayment of Debt	-137	-938	-1,968	-31	-30	-38	-4,769
Repurchase of Common Equity	-	-	0.00	0.00	-608	-257	-653
Issuance of Debt	137	938	5,520	21	20	154	5,220
Issuance of Common Equity	0.00	0.00	2,059	16	14	16	33
Other Financing Activities, net	2.62	9.00	-408	-6.00	-6.00	-220	-421
Effect of Exchange Rate Changes	0.18	0.00	0.00	-1.00	0.00	-1.00	9.00
Cash Interest Paid	0.62	3.00	12	12	12	16	31
Cash Income Taxes Paid	1.40	6.00	6.00	4.00	9.00	18	95

This table details how cash moves in and out of Robinhood Markets' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1,689	966	-700	-	1,595	-1,546	235	4,062	-1,723	-1,376	1,928
Net Cash From Operating Activities	-977	960	-623	54	1,812	-1,400	642	3,509	-1,576	-937	2,038
Net Cash From Continuing Operating Activities	-977	960	-623	54	1,812	-1,400	642	3,509	-1,576	-937	2,038
Net Income / (Loss) Continuing Operations	-85	30	157	188	150	916	336	386	556	605	346
Consolidated Net Income / (Loss)	-85	30	157	188	150	916	336	386	556	605	346
Depreciation Expense	19	17	17	18	20	22	20	21	22	23	23
Non-Cash Adjustments To Reconcile Net Income	170	-22	-569	1,073	1,387	-6.00	1,457	1,311	1,197	1,704	-3,071
Changes in Operating Assets and Liabilities, net	-1,081	935	-228	-1,225	255	-2,332	-1,171	1,791	-3,351	-3,269	4,740
Net Cash From Investing Activities	-97	-3.00	-47	-12	-123	34	9.00	832	-142	-558	-284
Net Cash From Continuing Investing Activities	-97	-3.00	-47	-12	-123	34	9.00	832	-142	-558	-284
Purchase of Property, Plant & Equipment	-6.00	-6.00	-9.00	-7.00	-19	-15	-11	-18	-12	-13	-18
Acquisitions	-90	-3.00	-3.00	-6.00	-	-	-150	944	-	-	-53
Purchase of Investments	-76	-108	-200	-172	-336	-596	-549	-979	-1,389	-2,522	-2,612
Sale and/or Maturity of Investments	75	125	154	135	150	219	208	58	81	53	0.00
Other Investing Activities, net	-	-11	11	38	82	426	511	827	1,178	1,924	2,399
Net Cash From Financing Activities	-615	9.00	-30	-42	-95	-178	-417	-286	-5.00	118	180
Net Cash From Continuing Financing Activities	-615	9.00	-30	-42	-95	-178	-417	-286	-5.00	118	180
Repayment of Debt	-10	-	-14	-12	-1.00	-11	-16	-1.00	-2,700	-2,052	-27
Repurchase of Common Equity	-	-	0.00	-	-	-160	-322	-124	-107	-100	-250
Issuance of Debt	10	-	17	11	79	47	24	81	2,841	2,274	117
Issuance of Common Equity	-	5.00	-	-	-	6.00	0.00	-	-	18	353
Other Financing Activities, net	-7.00	4.00	-33	-51	-76	-60	-103	-257	-39	-22	-13
Effect of Exchange Rate Changes	-	-	0.00	-	-	-2.00	1.00	7.00	-	1.00	-6.00
Cash Interest Paid	2.00	4.00	7.00	1.00	4.00	4.00	9.00	3.00	8.00	11	15
Cash Income Taxes Paid	7.00	-	2.00	4.00	8.00	4.00	29	53	1.00	12	70

This table presents Robinhood Markets' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	10,988	19,769	23,337	17,624	26,187	38,137
Total Current Assets	10,873	19,283	22,917	17,082	25,103	36,305
Cash & Equivalents	1,403	6,253	6,339	4,835	4,332	4,261
Restricted Cash	4,915	3,992	2,995	4,448	4,724	5,749
Short-Term Investments	0.00	0.00	517	2,015	3,634	2,408
Other Current Assets	4,555	8,946	12,980	5,721	12,413	23,887
Plant, Property, & Equipment, net	46	146	146	120	139	154
Total Noncurrent Assets	70	340	274	422	945	1,678
Goodwill	0.00	101	100	175	179	385
Intangible Assets	0.19	34	25	48	38	168
Other Noncurrent Operating Assets	70	205	149	126	728	1,125
Total Liabilities & Shareholders' Equity	10,988	19,769	23,337	17,624	26,187	38,137
Total Liabilities	8,864	12,476	16,381	10,928	18,215	28,986
Total Current Liabilities	8,816	12,347	16,253	10,837	18,104	28,771
Short-Term Debt	1,921	3,651	-	-	7,463	11,626
Accounts Payable	105	252	185	384	397	463
Other Current Liabilities	6,790	8,444	16,068	10,453	10,244	16,682
Total Noncurrent Liabilities	48	129	128	91	111	215
Other Noncurrent Operating Liabilities	48	129	128	91	111	215
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-55	7,293	6,956	6,696	7,972	9,151
Total Preferred & Common Equity	-55	7,293	6,956	6,696	7,972	9,140
Preferred Stock	0.00	-	0.00	0.00	0.00	0.00
Total Common Equity	-55	7,293	6,956	6,696	7,972	9,140
Common Stock	134	11,169	11,861	12,145	12,008	11,284
Retained Earnings	-190	-3,877	-4,905	-5,446	-4,035	-2,152
Accumulated Other Comprehensive Income / (Loss)	0.47	1.00	0.00	-3.00	-1.00	8.00
Noncontrolling Interest	-	-	-	-	0.00	11

This table presents Robinhood Markets' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	24,601	27,785	28,660	26,318	46,088	41,346	43,245	27,517	35,324	41,452	45,474
Total Current Assets	24,145	27,188	28,106	25,739	45,545	40,706	42,605	26,215	33,833	39,979	43,413
Cash & Equivalents	6,187	5,459	5,829	4,889	4,717	4,524	4,611	4,416	4,162	4,331	5,012
Restricted Cash	2,954	4,213	4,220	3,448	4,521	4,584	5,547	4,442	8,939	8,443	10,874
Short-Term Investments	171	1,134	1,281	1,576	2,602	2,720	4,231	4,306	6,293	6,660	3,355
Other Current Assets	14,753	16,292	16,688	15,751	33,641	28,813	28,130	12,962	14,331	20,417	24,172
Plant, Property, & Equipment, net	151	137	131	123	122	123	133	140	149	150	162
Total Noncurrent Assets	305	460	423	456	421	517	507	1,162	1,342	1,323	1,899
Goodwill	100	100	100	164	175	179	179	292	383	386	401
Intangible Assets	27	23	21	53	46	45	39	109	191	172	203
Other Noncurrent Operating Assets	178	142	137	121	190	291	289	761	768	765	1,295
Total Liabilities & Shareholders' Equity	24,601	27,785	28,660	26,318	46,088	41,346	43,245	27,517	35,324	41,452	45,474
Total Liabilities	17,647	20,739	21,473	19,744	39,203	34,224	36,037	19,564	27,252	32,885	35,786
Total Current Liabilities	17,509	20,617	21,356	19,648	39,113	34,140	35,958	19,431	27,122	32,762	35,554
Short-Term Debt	1,423	-	-	-	-	-	-	9,098	12,640	15,666	13,387
Accounts Payable	203	203	236	373	351	386	443	319	369	399	522
Other Current Liabilities	15,883	20,414	21,120	19,275	38,762	33,754	35,515	10,014	14,113	16,697	21,645
Total Noncurrent Liabilities	138	122	117	96	90	84	79	133	130	123	232
Other Noncurrent Operating Liabilities	138	122	117	96	90	84	79	133	130	123	232
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,954	7,046	7,187	6,574	6,885	7,122	7,208	7,953	8,072	8,567	9,688
Total Preferred & Common Equity	6,954	7,046	7,187	6,574	6,885	7,122	7,208	7,953	8,072	8,567	9,319
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,954	7,046	7,187	6,574	6,885	7,122	7,208	7,953	8,072	8,567	9,319
Common Stock	11,694	12,462	12,581	12,054	12,176	12,223	12,158	11,652	11,378	11,317	11,119
Retained Earnings	-4,739	-5,416	-5,391	-5,476	-5,289	-5,101	-4,951	-3,699	-3,313	-2,757	-1,802
Accumulated Other Comprehensive Income / (Loss)	-1.00	-	-3.00	-4.00	-2.00	0.00	1.00	0.00	7.00	7.00	2.00
Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-	369

This table displays calculated financial ratios and metrics derived from Robinhood Markets' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	245.18%	89.46%	-25.18%	37.33%	58.23%	51.58%
EBITDA Growth	0.00%	122.52%	-16,008.70%	73.60%	52.17%	346.97%	92.29%
EBIT Growth	0.00%	112.08%	-28,446.15%	72.13%	48.10%	299.62%	98.12%
NOPAT Growth	0.00%	109.35%	-16,510.00%	38.39%	46.98%	472.53%	33.82%
Net Income Growth	0.00%	106.57%	-52,771.43%	72.12%	47.37%	360.81%	33.45%
EPS Growth	0.00%	102.08%	-75,000.00%	84.38%	47.86%	355.74%	31.41%
Operating Cash Flow Growth	0.00%	48.88%	-147.17%	3.73%	238.62%	-113.29%	1,143.31%
Free Cash Flow Firm Growth	0.00%	0.00%	-280.78%	68.00%	283.71%	2.56%	-51.24%
Invested Capital Growth	0.00%	0.00%	130.77%	1.93%	-61.49%	-0.92%	204.52%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	5.13%	22.55%	6.40%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	28.37%	87.97%	4.98%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	25.56%	98.88%	5.14%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	25.14%	171.82%	-14.53%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	26.59%	168.76%	-14.18%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	24.69%	168.97%	-14.58%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-235.80%	0.00%	193.78%	-107.13%	39.40%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-52.47%	-66.01%	-50.62%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-35.23%	34.30%	74.18%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	97.35%	97.69%	97.42%	97.45%
EBITDA Margin	-36.80%	2.40%	-201.60%	-71.13%	-24.77%	38.66%	49.05%
Operating Margin	-38.53%	1.36%	-90.41%	-74.45%	-28.74%	35.72%	46.81%
EBIT Margin	-38.77%	1.36%	-203.03%	-75.63%	-28.58%	36.06%	47.13%
Profit (Net Income) Margin	-38.40%	0.73%	-203.14%	-75.70%	-29.01%	47.81%	42.10%
Tax Burden Percent	99.05%	53.85%	100.05%	100.10%	101.50%	132.61%	89.33%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	46.15%	0.00%	0.00%	0.00%	-32.61%	10.67%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.69%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.27%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-11.70%
Return on Equity (ROE)	0.00%	0.33%	-78.30%	-14.43%	-7.93%	19.24%	21.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-589.34%	0.00%	0.00%	0.00%	-67.43%
Operating Return on Assets (OROA)	0.00%	0.12%	-23.96%	-4.77%	-2.60%	4.86%	6.55%
Return on Assets (ROA)	0.00%	0.06%	-23.97%	-4.77%	-2.64%	6.44%	5.85%
Return on Common Equity (ROCE)	0.00%	-0.01%	-60.18%	-14.43%	-7.93%	19.24%	21.98%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-12.65%	-50.56%	-14.78%	-8.08%	17.70%	0.00%
Net Operating Profit after Tax (NOPAT)	-75	7.00	-1,149	-708	-375	1,398	1,870
NOPAT Margin	-26.97%	0.73%	-63.29%	-52.11%	-20.12%	47.36%	41.82%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	-46.19%	-3.19%	-1.56%	0.11%	0.42%
Return On Investment Capital (ROIC_SIMPLE)	-	0.38%	-10.50%	-10.17%	-5.60%	17.53%	9.00%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	2.65%	2.31%	2.58%	2.55%
SG&A Expenses to Revenue	43.01%	44.89%	95.81%	86.38%	68.90%	19.21%	16.95%
R&D to Revenue	34.21%	22.44%	67.99%	64.65%	43.16%	27.72%	20.05%
Operating Expenses to Revenue	138.53%	98.64%	190.41%	171.80%	126.43%	61.71%	53.19%
Earnings before Interest and Taxes (EBIT)	-108	13	-3,685	-1,027	-533	1,064	2,108
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-102	23	-3,659	-966	-462	1,141	2,194
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.09	1.03	1.65	4.13	11.13
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.13	1.05	1.70	4.25	11.84
Price to Revenue (P/Rev)	7.53	2.18	8.41	5.28	5.91	11.16	22.74
Price to Earnings (P/E)	0.00	298.57	0.00	0.00	0.00	23.34	54.01
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.33%	0.00%	0.00%	0.00%	4.28%	1.85%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	12.41	0.00	0.00	0.00	12.07
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.78	0.00	0.00	6.86	22.56
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	17.74	46.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	19.03	47.87
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	14.49	53.95
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	61.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	14.05	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.90	0.50	0.00	0.00	0.00	1.27
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-2.07	-1.17	-1.41	-1.55	-1.64	-0.35
Leverage Ratio	0.00	5.17	3.27	3.03	3.00	2.99	3.76
Compound Leverage Factor	0.00	5.17	3.27	3.03	3.00	2.99	3.76
Debt to Total Capital	0.00%	47.49%	33.36%	0.00%	0.00%	0.00%	55.96%
Short-Term Debt to Total Capital	0.00%	47.49%	33.36%	0.00%	0.00%	0.00%	55.96%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	53.88%	0.00%	0.00%	0.00%	0.00%	0.05%
Common Equity to Total Capital	0.00%	-1.37%	66.64%	100.00%	100.00%	100.00%	43.99%
Debt to EBITDA	0.00	83.53	-1.00	0.00	0.00	0.00	5.30
Net Debt to EBITDA	0.00	-191.14	1.80	0.00	0.00	0.00	-0.36
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	274.45	-3.18	0.00	0.00	0.00	6.22
Net Debt to NOPAT	0.00	-628.02	5.74	0.00	0.00	0.00	-0.42
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	0.43	0.36	0.22	0.60	1.44	2.56
Noncontrolling Interest Sharing Ratio	0.00%	102.60%	23.15%	0.00%	0.00%	0.00%	0.06%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.23	1.56	1.41	1.58	1.39	1.26
Quick Ratio	0.00	0.16	0.51	0.42	0.63	0.44	0.23
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	2,279	-4,119	-765	1,405	1,441	-3,744
Operating Cash Flow to CapEx	10,118.73%	5,862.50%	-1,066.27%	-1,494.74%	5,623.81%	-314.00%	3,033.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.09	0.12	0.06	0.09	0.13	0.14
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	20.90	18.92	9.30	14.02	22.79	30.53
Accounts Payable Turnover	0.00	0.00	0.00	0.16	0.15	0.19	0.27
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	2,215.35	2,414.94	1,875.43	1,376.75
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	-2,215.35	-2,414.94	-1,875.43	-1,376.75
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-2,272	699	-2,895	-4,675	-4,718	8,359
Invested Capital Turnover	0.00	-0.84	-2.31	-0.46	-0.49	-0.63	0.81
Increase / (Decrease) in Invested Capital	0.00	-2,272	2,971	57	-1,780	-43	5,614
Enterprise Value (EV)	0.00	-126	8,674	-2,685	-354	20,247	100,917
Market Capitalization	2,090	2,090	15,268	7,166	11,017	32,937	101,698
Book Value per Share	$0.00	($0.25)	$8.48	$7.92	$7.74	$9.02	$10.16
Tangible Book Value per Share	$0.00	($0.25)	$8.33	$7.77	$7.49	$8.77	$9.55
Total Capital	0.00	4,046	10,944	6,956	6,696	7,972	20,777
Total Debt	0.00	1,921	3,651	0.00	0.00	0.00	11,626
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-4,396	-6,594	-9,851	-11,371	-12,690	-792
Capital Expenditures (CapEx)	12	32	83	57	21	50	54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-2,340	342	-3,187	-5,053	-5,691	6,742
Debt-free Net Working Capital (DFNWC)	0.00	3,978	10,587	6,664	6,245	6,999	19,160
Net Working Capital (NWC)	0.00	2,057	6,936	6,664	6,245	6,999	7,534
Net Nonoperating Expense (NNE)	32	0.00	2,538	320	166	-13	-13
Net Nonoperating Obligations (NNO)	0.00	-4,396	-6,594	-9,851	-11,371	-12,690	-792
Total Depreciation and Amortization (D&A)	5.44	10	26	61	71	77	86
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-244.22%	18.84%	-234.68%	-270.94%	-192.85%	150.73%
Debt-free Net Working Capital to Revenue	0.00%	415.20%	583.31%	490.72%	334.85%	237.17%	428.35%
Net Working Capital to Revenue	0.00%	214.67%	382.15%	490.72%	334.85%	237.17%	168.43%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($7.49)	($1.17)	($0.61)	$1.60	$2.12
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	492.38M	878.63M	890.86M	881.11M	888.50M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($7.49)	($1.17)	($0.61)	$1.56	$2.05
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	492.38M	878.63M	890.86M	906.17M	918.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	867.99M	896.05M	874.55M	885.46M	900.31M
Normalized Net Operating Profit after Tax (NOPAT)	-75	7.00	-1,149	-708	-375	738	1,870
Normalized NOPAT Margin	-26.97%	0.73%	-63.29%	-52.11%	-20.12%	25.00%	41.82%
Pre Tax Income Margin	-38.77%	1.36%	-203.03%	-75.63%	-28.58%	36.06%	47.13%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-112.38%	18.21%	34.68%

This table displays calculated financial ratios and metrics derived from Robinhood Markets' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,800,616,780.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,800,616,780.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.19
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	29.36%	23.95%	40.14%	40.33%	36.40%	115.29%	50.00%	45.01%	100.00%	26.53%	15.10%
EBITDA Growth	64.78%	133.58%	136.61%	464.86%	408.93%	1,160.87%	118.44%	121.53%	279.19%	17.93%	11.00%
EBIT Growth	56.90%	118.83%	131.83%	768.18%	304.00%	1,824.14%	129.01%	131.41%	314.38%	18.46%	10.78%
NOPAT Growth	58.05%	124.95%	142.98%	718.54%	389.70%	3,293.43%	118.84%	106.08%	276.17%	-34.82%	3.25%
Net Income Growth	51.43%	118.07%	130.72%	652.00%	276.47%	2,953.33%	114.01%	105.32%	270.67%	-33.95%	4.17%
EPS Growth	55.00%	111.11%	131.58%	600.00%	288.89%	4,900.00%	105.56%	100.00%	258.82%	-35.00%	2.70%
Operating Cash Flow Growth	-371.98%	430.39%	-175.24%	-85.41%	285.47%	-245.83%	203.05%	6,398.15%	-186.98%	33.07%	217.45%
Free Cash Flow Firm Growth	201.00%	1,196.42%	2,750.79%	-69.48%	13.69%	-47.11%	-871.36%	63.78%	-2,078.82%	-69.55%	109.28%
Invested Capital Growth	0.00%	-61.49%	-25.54%	-9.29%	-107.72%	-0.92%	618.27%	244.13%	3,739.20%	204.52%	-1.36%
Revenue Q/Q Growth	-3.91%	0.86%	31.21%	10.36%	-6.60%	59.18%	-8.58%	6.69%	28.82%	0.71%	-16.84%
EBITDA Q/Q Growth	-251.35%	182.14%	289.13%	16.76%	-17.22%	235.26%	-32.59%	18.41%	41.68%	4.27%	-36.55%
EBIT Q/Q Growth	-440.91%	138.67%	458.62%	17.90%	-19.90%	264.71%	-33.51%	19.14%	43.44%	4.26%	-37.82%
NOPAT Q/Q Growth	-324.84%	152.64%	469.31%	21.49%	-20.42%	516.54%	-63.29%	14.41%	45.25%	6.83%	-41.84%
Net Income Q/Q Growth	-440.00%	135.29%	423.33%	19.75%	-20.21%	510.67%	-63.32%	14.88%	44.04%	8.81%	-42.15%
EPS Q/Q Growth	-400.00%	122.22%	800.00%	16.67%	-19.05%	488.24%	-63.00%	13.51%	45.24%	6.56%	-41.54%
Operating Cash Flow Q/Q Growth	-364.05%	198.26%	-164.90%	108.67%	3,255.56%	-177.26%	145.86%	446.57%	-144.91%	40.55%	317.50%
Free Cash Flow Firm Q/Q Growth	77.38%	-46.95%	-35.63%	-49.62%	560.72%	-75.32%	-45.32%	87.18%	-646.37%	-21.91%	107.95%
Invested Capital Q/Q Growth	19.75%	-35.23%	-6.20%	5.18%	-52.53%	34.30%	41.60%	-66.09%	264.11%	74.18%	-54.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	90.87%	100.00%	100.00%	100.00%	92.50%	97.41%	97.17%	97.96%	97.19%	96.63%
EBITDA Margin	-11.99%	9.77%	28.96%	30.65%	27.16%	57.20%	42.18%	46.82%	51.49%	53.31%	40.67%
Operating Margin	-15.63%	5.52%	25.57%	27.71%	23.70%	54.83%	39.91%	44.39%	49.84%	50.66%	38.52%
EBIT Margin	-16.06%	6.16%	26.21%	28.01%	24.02%	55.03%	40.02%	44.69%	49.76%	51.52%	38.52%
Profit (Net Income) Margin	-18.20%	6.37%	25.40%	27.57%	23.55%	90.34%	36.25%	39.03%	43.64%	47.16%	32.80%
Tax Burden Percent	113.33%	103.45%	96.91%	98.43%	98.04%	164.16%	90.57%	87.33%	87.70%	91.53%	85.16%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	-3.45%	3.09%	1.57%	1.96%	-64.16%	9.43%	12.67%	12.30%	8.47%	15.82%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	75.13%	162.58%	74.64%	37.36%	38.75%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	75.12%	162.54%	74.65%	37.02%	38.67%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-59.24%	-144.34%	-51.35%	-13.01%	-21.74%
Return on Equity (ROE)	-22.42%	-7.93%	1.82%	4.05%	7.62%	19.24%	15.90%	18.24%	23.29%	24.34%	17.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-78.61%	99.19%	-100.95%	-67.43%	50.11%
Operating Return on Assets (OROA)	-2.17%	0.56%	1.45%	1.79%	1.66%	7.41%	3.55%	4.16%	4.94%	7.17%	4.87%
Return on Assets (ROA)	-2.45%	0.58%	1.40%	1.76%	1.63%	12.17%	3.21%	3.63%	4.33%	6.56%	4.15%
Return on Common Equity (ROCE)	-22.42%	-7.93%	1.82%	4.05%	7.62%	19.24%	15.90%	18.24%	23.29%	24.33%	16.65%
Return on Equity Simple (ROE_SIMPLE)	-11.21%	0.00%	1.84%	4.07%	7.28%	0.00%	19.99%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-51	27	153	186	148	913	335	383	557	595	346
NOPAT Margin	-10.94%	5.71%	24.78%	27.28%	23.24%	90.01%	36.15%	38.76%	43.71%	46.37%	32.43%
Net Nonoperating Expense Percent (NNEP)	-0.68%	0.03%	0.03%	0.02%	0.02%	0.03%	0.02%	0.04%	-0.02%	0.33%	0.08%
Return On Investment Capital (ROIC_SIMPLE)	-	0.40%	-	-	-	11.45%	1.97%	1.85%	2.30%	2.86%	1.50%
Cost of Revenue to Revenue	0.00%	9.13%	0.00%	0.00%	0.00%	7.50%	2.59%	2.83%	2.04%	2.81%	3.37%
SG&A Expenses to Revenue	58.03%	27.60%	26.21%	26.39%	28.73%	4.14%	17.69%	16.28%	17.11%	16.76%	19.87%
R&D to Revenue	43.25%	41.83%	31.72%	30.65%	32.18%	20.51%	23.09%	21.64%	18.60%	18.08%	22.59%
Operating Expenses to Revenue	115.63%	85.35%	74.43%	72.29%	76.30%	37.67%	57.50%	55.61%	50.16%	51.21%	61.48%
Earnings before Interest and Taxes (EBIT)	-75	29	162	191	153	558	371	442	634	661	411
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-56	46	179	209	173	580	391	463	656	684	434
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.36	1.65	2.53	2.80	2.87	4.13	4.63	10.24	14.85	11.13	6.70
Price to Tangible Book Value (P/TBV)	1.41	1.70	2.61	2.89	2.96	4.25	4.88	11.02	15.89	11.84	7.16
Price to Revenue (P/Rev)	5.04	5.91	8.53	8.92	8.60	11.16	11.30	23.16	30.27	22.74	13.53
Price to Earnings (P/E)	0.00	0.00	137.07	68.82	39.47	23.34	23.18	46.21	57.99	54.01	32.89
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.73%	1.45%	2.53%	4.28%	4.31%	2.16%	1.72%	1.85%	3.04%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	8.44	57.57	25.73	12.07	14.84
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.72	3.63	2.63	6.86	10.06	21.27	29.37	22.56	12.34
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	26.98	21.50	10.43	17.74	24.23	47.21	59.08	46.00	25.44
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	40.28	26.48	11.83	19.03	25.76	49.78	61.58	47.87	26.49
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	46.10	28.68	12.31	14.49	20.73	42.66	56.42	53.95	30.24
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	2.87	0.00	29.59	16.63	105.08	61.61	18.76
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	4.92	11.89	1.49	14.05	0.00	89.94	0.00	0.00	29.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	1.14	1.57	1.83	1.27	1.38
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.53	-1.55	-1.64	-1.63	-1.77	-1.64	-0.79	-0.89	-0.69	-0.35	-0.56
Leverage Ratio	4.00	3.00	5.30	4.89	5.05	2.99	4.96	5.05	5.37	3.76	4.14
Compound Leverage Factor	4.00	3.00	5.30	4.89	5.05	2.99	4.96	5.05	5.37	3.76	4.14
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53.36%	61.03%	64.65%	55.96%	58.02%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53.36%	61.03%	64.65%	55.96%	58.02%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	1.60%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	46.64%	38.97%	35.35%	43.99%	40.39%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	6.72	7.87	7.50	5.30	5.98
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-3.01	-4.20	-1.80	-0.36	-2.62
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	5.75	7.11	7.16	6.22	7.11
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-2.57	-3.80	-1.72	-0.42	-3.11
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.32	0.71	0.33	0.44	0.44	1.37	1.40	2.06	2.59	2.44	1.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	2.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.58	1.16	1.19	1.18	1.39	1.35	1.25	1.22	1.26	1.22
Quick Ratio	0.33	0.63	0.19	0.21	0.25	0.44	0.45	0.39	0.34	0.23	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,406	1,807	1,163	586	3,872	956	-4,302	-552	-4,117	-5,019	399
Operating Cash Flow to CapEx	-16,283.33%	16,000.00%	-6,922.22%	771.43%	9,536.84%	-9,333.33%	5,836.36%	19,494.44%	-13,133.33%	-7,207.69%	11,322.22%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.09	0.06	0.06	0.07	0.13	0.09	0.09	0.10	0.14	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	14.02	15.77	17.62	18.81	22.79	24.89	26.23	29.71	30.53	30.55
Accounts Payable Turnover	0.00	0.15	0.00	0.00	0.00	0.19	0.25	0.25	0.23	0.27	0.30
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	2,414.94	0.00	0.00	0.00	1,875.43	1,455.65	1,465.82	1,584.18	1,376.75	1,218.12
Cash Conversion Cycle (CCC)	0.00	-2,414.94	0.00	0.00	0.00	-1,875.43	-1,455.65	-1,465.82	-1,584.18	-1,376.75	-1,218.12
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-3,457	-4,675	-4,965	-4,708	-7,181	-4,718	3,887	1,318	4,799	8,359	3,834
Invested Capital Turnover	-1.03	-0.49	-0.46	-0.50	-0.45	-0.63	2.08	4.19	1.71	0.81	1.19
Increase / (Decrease) in Invested Capital	-3,457	-1,780	-1,010	-400	-3,724	-43	4,637	935	4,674	5,614	-53
Enterprise Value (EV)	-1,091	-354	5,558	8,128	6,330	20,247	32,787	75,872	123,472	100,917	56,906
Market Capitalization	8,940	11,017	17,408	19,958	20,719	32,937	36,853	82,626	127,240	101,698	62,391
Book Value per Share	$7.21	$7.74	$7.87	$8.10	$8.15	$9.02	$8.98	$9.15	$9.64	$10.16	$10.35
Tangible Book Value per Share	$6.98	$7.49	$7.61	$7.85	$7.90	$8.77	$8.53	$8.50	$9.01	$9.55	$9.68
Total Capital	6,574	6,696	6,885	7,122	7,208	7,972	17,051	20,712	24,233	20,777	23,075
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	9,098	12,640	15,666	11,626	13,387
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-10,031	-11,371	-11,850	-11,830	-14,389	-12,690	-4,066	-6,754	-3,768	-792	-5,854
Capital Expenditures (CapEx)	6.00	6.00	9.00	7.00	19	15	11	18	12	13	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,822	-5,053	-5,408	-5,262	-7,742	-5,691	2,718	-43	3,449	6,742	2,005
Debt-free Net Working Capital (DFNWC)	6,091	6,245	6,432	6,566	6,647	6,999	15,882	19,351	22,883	19,160	21,246
Net Working Capital (NWC)	6,091	6,245	6,432	6,566	6,647	6,999	6,784	6,711	7,217	7,534	7,859
Net Nonoperating Expense (NNE)	34	-3.10	-3.88	-1.97	-1.96	-3.28	-0.91	-2.62	0.88	-10	-4.00
Net Nonoperating Obligations (NNO)	-10,031	-11,371	-11,850	-11,830	-14,389	-12,690	-4,066	-6,754	-3,768	-792	-5,854
Total Depreciation and Amortization (D&A)	19	17	17	18	20	22	20	21	22	23	23
Debt-free, Cash-free Net Working Capital to Revenue	-215.45%	-270.94%	-264.84%	-235.12%	-321.51%	-192.85%	83.37%	-1.21%	82.04%	150.73%	43.46%
Debt-free Net Working Capital to Revenue	343.35%	334.85%	314.99%	293.39%	276.04%	237.17%	487.18%	542.50%	544.31%	428.35%	460.57%
Net Working Capital to Revenue	343.35%	334.85%	314.99%	293.39%	276.04%	237.17%	208.10%	188.14%	171.67%	168.43%	170.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.09)	$0.02	$0.18	$0.21	$0.17	$1.04	$0.38	$0.44	$0.63	$0.67	$0.39
Adjusted Weighted Average Basic Shares Outstanding	895.11M	890.86M	875.32M	881.08M	884.11M	881.11M	884.58M	882.15M	889.26M	888.50M	899.15M
Adjusted Diluted Earnings per Share	($0.09)	$0.02	$0.18	$0.21	$0.17	$1.00	$0.37	$0.42	$0.61	$0.65	$0.38
Adjusted Weighted Average Diluted Shares Outstanding	895.11M	890.86M	895.78M	904.49M	905.54M	906.17M	909.24M	909.13M	917.94M	918.78M	915.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	864.78M	874.55M	878.84M	884.68M	883.98M	885.46M	882.47M	888.68M	899.19M	900.31M	900.51M
Normalized Net Operating Profit after Tax (NOPAT)	-51	18	153	186	148	389	335	383	557	595	346
Normalized NOPAT Margin	-10.94%	3.86%	24.78%	27.28%	23.24%	38.38%	36.15%	38.76%	43.71%	46.37%	32.43%
Pre Tax Income Margin	-16.06%	6.16%	26.21%	28.01%	24.02%	55.03%	40.02%	44.69%	49.76%	51.52%	38.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-82.50%	-112.38%	0.00%	0.00%	18.48%	18.21%	36.42%	39.32%	32.50%	34.68%	30.63%

Financials Breakdown Chart

Key Financial Trends

Robinhood Markets, Inc. (HOOD) has shown a multi-year growth in revenue and improving quarterly profits, but cash flow volatility and high leverage remain important considerations for investors. Below is a concise, data-driven snapshot focused on the last four years of HOOD’s quarterly statements provided, highlighting key trends and potential implications for retail investors.

Revenue growth: Operating revenue rose from about $0.38 billion in Q4 2022 to about $1.28 billion in Q4 2025, marking a substantial long-term top-line expansion.
Net income remains positive across 2025 quarters: Q1 2025 net income of $336 million, Q2 2025 $386 million, Q3 2025 $556 million, and Q4 2025 $605 million (continuing operations in each case), signaling improving profitability.
Gross profit remains robust in 2025: For example, Q4 2025 gross profit was about $1.25 billion on $1.28 billion of revenue, indicating strong gross margins during the period.
Cash flow from operating activities positive in early 2025: Q1 2025 net cash from continuing operating activities around $642 million; Q2 2025 about $3.51 billion, showing improving cash-generation ability from operations.
Non-cash adjustments to net income can distort cash flow: Q4 2025 shows a large non-cash adjustment to reconcile net income of roughly $1.70 billion, which can overstate operating cash flow if viewed in isolation.
Significant working capital changes in Q4 2025: Changes in operating assets and liabilities net around $(3.27) billion, contributing to a substantial cash outflow despite positive net income.
Restatements and period adjustments: Several quarters show restated or restatement-adjusted figures (e.g., Q4 2024 restated; Q1 2024 restated), which can affect year-over-year comparability and trend clarity.
Operating cash flow turned negative in later quarters: Net cash from continuing operating activities was negative in Q3 2025 (about $(1.58) billion) and again negative in Q4 2025 (about $(0.94) billion), indicating ongoing cash-burn dynamics despite profits on the income statement.
Net change in cash and equivalents declined in Q4 2025: The cash balance decreased by roughly $(1.38) billion) during Q4 2025, reflecting the cash-flow volatility and large working-capital needs.
High leverage and balance-sheet risk: Total liabilities around $32.9 billion vs. total equity near $8.6 billion (as of mid-2025), indicating a high debt/load relative to equity and potential liquidity and risk considerations for creditors and investors.

05/06/26 08:31 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Robinhood Markets' Financials

When does Robinhood Markets' financial year end?

According to the most recent income statement we have on file, Robinhood Markets' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Robinhood Markets' net income changed over the last 6 years?

Robinhood Markets' net income appears to be on a downward trend, with a most recent value of $1.88 billion in 2025, falling from -$106.57 million in 2019. The previous period was $1.41 billion in 2024. Check out Robinhood Markets' forecast to explore projected trends and price targets.

What is Robinhood Markets' operating income?

Robinhood Markets' total operating income in 2025 was $2.09 billion, based on the following breakdown:

Total Gross Profit: $4.36 billion
Total Operating Expenses: $2.38 billion

How has Robinhood Markets' revenue changed over the last 6 years?

Over the last 6 years, Robinhood Markets' total revenue changed from $277.53 million in 2019 to $4.47 billion in 2025, a change of 1,511.7%.

How much debt does Robinhood Markets have?

Robinhood Markets' total liabilities were at $28.99 billion at the end of 2025, a 59.1% increase from 2024, and a 227.0% increase since 2020.

How much cash does Robinhood Markets have?

In the past 5 years, Robinhood Markets' cash and equivalents has ranged from $1.40 billion in 2020 to $6.34 billion in 2022, and is currently $4.26 billion as of their latest financial filing in 2025.

How has Robinhood Markets' book value per share changed over the last 6 years?

Over the last 6 years, Robinhood Markets' book value per share changed from 0.00 in 2019 to 10.16 in 2025, a change of 1,016.5%.

Related Companies

Financial statements for NASDAQ:HOOD last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Robinhood Markets (HOOD) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Robinhood Markets' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Robinhood Markets (HOOD) Financials

Annual Income Statements for Robinhood Markets

Quarterly Income Statements for Robinhood Markets

Annual Cash Flow Statements for Robinhood Markets

Quarterly Cash Flow Statements for Robinhood Markets

Annual Balance Sheets for Robinhood Markets

Quarterly Balance Sheets for Robinhood Markets

Annual Metrics And Ratios for Robinhood Markets

Quarterly Metrics And Ratios for Robinhood Markets

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Robinhood Markets' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools