Robinhood vs Interactive Brokers
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The short version
- Interactive Brokers is the larger business, with $6.2B of revenue in fiscal 2025 against $4.5B for Robinhood.
- Robinhood grew revenue faster (51.6%, against 19.7%).
- Interactive Brokers turned more of its sales into free cash flow (253.7% FCF margin, against 36.3%).
- Investors pay more for each dollar of Robinhoodβs earnings: a P/E of 41.9x against 32.0x for Interactive Brokers.
| Latest fiscal year | HOOD Β· FY25 | IBKR Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $86.7B | $36.1B |
| Revenue | $4.5B | $6.2B |
| Free cash flow | $1.6B | $15.7B |
| Net income | $1.9B | $984M |
| Growth | ||
| Revenue growth | 51.6% | 19.7% |
| 5-year growth | 36.1% | 22.8% |
| Share count change | 1.4% | 1.8% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 42.1% | 15.9% |
| FCF margin | 36.3% | 253.7% |
| Return on capital | β | β |
| Return on equity | 22.0% | β |
| Balance sheet | ||
| Net debt | β | β$4.9B |
| Net debt / EBITDA | β | β0.6x |
| Dividends and buybacks | $653M | $134M |
| Valuation & quality | ||
| P/E | 41.9x | 32.0x |
| Piotroski F-score | β | β |
Revenue
FY16
HOOD β
IBKR $1.4B
FY17
HOOD β
IBKR $1.7B
FY18
HOOD β
IBKR $1.9B
FY19
HOOD $278M
IBKR $1.9B
FY20
HOOD $958M
IBKR $2.2B
FY21
HOOD $1.8B
IBKR $2.7B
FY22
HOOD $1.4B
IBKR $3.1B
FY23
HOOD $1.9B
IBKR $4.3B
FY24
HOOD $3.0B
IBKR $5.2B
FY25
HOOD $4.5B
IBKR $6.2B
HOOD
IBKR
Operating margin
FY16
HOOD β
IBKR β
FY17
HOOD β
IBKR β
FY18
HOOD β
IBKR β
FY19
HOOD β
IBKR β
FY20
HOOD β
IBKR β
FY21
HOOD β
IBKR β
FY22
HOOD β
IBKR β
FY23
HOOD β
IBKR β
FY24
HOOD β
IBKR β
FY25
HOOD β
IBKR β
HOOD
IBKR
Free cash flow
FY16
HOOD β
IBKR $608M
FY17
HOOD β
IBKR $1.0B
FY18
HOOD β
IBKR $2.3B
FY19
HOOD $1.3B
IBKR $2.6B
FY20
HOOD $1.9B
IBKR $8.0B
FY21
HOOD β$948M
IBKR $5.8B
FY22
HOOD β$880M
IBKR $3.9B
FY23
HOOD $1.2B
IBKR $4.5B
FY24
HOOD β$170M
IBKR $8.7B
FY25
HOOD $1.6B
IBKR $15.7B
HOOD
IBKR
Return on capital
FY16
HOOD β
IBKR β
FY17
HOOD β
IBKR β
FY18
HOOD β
IBKR β
FY19
HOOD β
IBKR β
FY20
HOOD β
IBKR β
FY21
HOOD β
IBKR β
FY22
HOOD β
IBKR β
FY23
HOOD β
IBKR β
FY24
HOOD β
IBKR β
FY25
HOOD β
IBKR β
HOOD
IBKR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.