1.Sales and profit
See section β- Robinhood had $4.5B of revenue in fiscal 2025, up 51.6% on the year before. Over five years, revenue changed +36.1% a year on average.
- Robinhood made $1.9B of net profit in fiscal 2025.
Robinhood
HOOD Nasdaq Investment Banking & Brokerage Financials FY2019βFY2025
Robinhood runs a mobile-first investing and financial services app. It was founded in 2013 and says it was the first US retail broker to offer commission-free stock trading with no account minimums. Customers can trade US-listed stocks and ETFs (exchange-traded funds) and related options without commissions, open retirement accounts, set up recurring investments, and buy fractions of a share starting at $1. Robinhood Legend is a browser-based desktop platform for active traders. Customers can also trade cryptocurrency, and customers in the EU can stake selected cryptocurrencies.
KIRAβs summary AI analyst
Hi! I read Robinhoodβs latest annual report (fiscal 2025). Here is what stands out:
3 strengths
2.Cash and shareholders
See section β- Free cash flow was $1.6B in fiscal 2025, 36.3% of revenue.
- Robinhood returned $653M to shareholders in fiscal 2025, 40% of free cash flow. The diluted share count rose 1.4%.
- In the last 12 months, insiders bought $55.3M and sold $613M of shares on the open market.
4.Price and value
See section β- At $92.84 a share, the company is worth $84.7B: 40.9 times its earnings of the last four quarters.
- Robinhood grew sales faster than 2 of its 2 similar companies. Its P/E is higher than 1 of 1.
Biggest risks, in its own words
- Growth may not match past rates, and it has had operating losses in most full years since it began.
- Heavy dependence on liquidity providers, and bad publicity about payment for order flow and transaction rebates.
- Lower interest rates cutting its net interest revenue.
- Extensive and changing financial regulation and regulatory investigations.
- Expanding into new products and countries brings new risks, and it may need more capital.
Robinhood in 30 seconds
Good So-so Weak
Good
Are sales growing?
+51.6%
Yes. Sales grew 51.6% last year.
Good
Does it make a profit?
42.1%
Yes. It keeps 42.1% of every sale as profit.
Good
Does profit turn into cash?
36.3%
Yes. 36.3% of sales ends up as free cash.
For information
How is the share priced?
40.9x
One share costs 40.9 times its yearly profit per share. Typical for its sector: 13.7x.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$84.7B
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
40.9x
On $2.27 EPS (TTM)
About these figures. Robinhood's filings don't tag total borrowings, so debt-based ratios are left blank. Robinhood's small holding of short-term securities (US$27 million in 2021) is no longer tagged after 2022 and is counted as zero.
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA Β· Robinhood had $4.5B of revenue in fiscal 2025, up 51.6% on the year before. Over five years, revenue changed +36.1% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY19
Revenue $278M
FY20
Revenue $958M
FY21
Revenue $1.8B
FY22
Revenue $1.4B
FY23
Revenue $1.9B
FY24
Revenue $3.0B
FY25
Revenue $4.5B
Revenue
Q3 '23
Revenue $467M
Q4 '23
Revenue $471M
Q1 '24
Revenue $618M
Q2 '24
Revenue $682M
Q3 '24
Revenue $637M
Q4 '24
Revenue $1.0B
Q1 '25
Revenue $927M
Q2 '25
Revenue $989M
Q3 '25
Revenue $1.3B
Q4 '25
Revenue $1.3B
Q1 '26
Revenue $1.1B
Q2 '26
Revenue $1.3B
Margins, % of revenue
FY19
Gross β
Operating β
Net β38.4%
FCF 451.4%
FY20
Gross β
Operating β
Net 0.7%
FCF 193.3%
FY21
Gross β
Operating β
Net β203.1%
FCF β52.2%
FY22
Gross β
Operating β
Net β75.7%
FCF β64.8%
FY23
Gross β
Operating β
Net β29.0%
FCF 63.2%
FY24
Gross β
Operating β
Net 47.8%
FCF β5.8%
FY25
Gross β
Operating β
Net 42.1%
FCF 36.3%
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross β
Operating β
Net β18.2%
FCF β209.4%
Q4 '23
Gross β
Operating β
Net 6.4%
FCF 203.6%
Q1 '24
Gross β
Operating β
Net 25.4%
FCF β101.1%
Q2 '24
Gross β
Operating β
Net 27.6%
FCF 7.9%
Q3 '24
Gross β
Operating β
Net 23.6%
FCF 283.4%
Q4 '24
Gross β
Operating β
Net 90.3%
FCF β138.5%
Q1 '25
Gross β
Operating β
Net 36.3%
FCF 69.0%
Q2 '25
Gross β
Operating β
Net 39.0%
FCF 354.0%
Q3 '25
Gross β
Operating β
Net 43.6%
FCF β123.9%
Q4 '25
Gross β
Operating β
Net 47.2%
FCF β73.2%
Q1 '26
Gross β
Operating β
Net 32.8%
FCF 190.2%
Q2 '26
Gross β
Operating β
Net 42.9%
FCF 54.1%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Robinhood made $1.9B of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY19
Net income β$107M
FY20
Net income $7.0M
FY21
Net income β$3.7B
FY22
Net income β$1.0B
FY23
Net income β$541M
FY24
Net income $1.4B
FY25
Net income $1.9B
Net income
Q3 '23
Net income β$85.0M
Q4 '23
Net income $30.0M
Q1 '24
Net income $157M
Q2 '24
Net income $188M
Q3 '24
Net income $150M
Q4 '24
Net income $916M
Q1 '25
Net income $336M
Q2 '25
Net income $386M
Q3 '25
Net income $556M
Q4 '25
Net income $605M
Q1 '26
Net income $350M
Q2 '26
Net income $561M
Diluted EPS
FY19
Diluted EPS β$0.48
FY20
Diluted EPS $0.01
FY21
Diluted EPS β$7.49
FY22
Diluted EPS β$1.17
FY23
Diluted EPS β$0.61
FY24
Diluted EPS $1.56
FY25
Diluted EPS $2.05
Diluted EPS
Q3 '23
Diluted EPS β$0.09
Q4 '23
Diluted EPS $0.03
Q1 '24
Diluted EPS $0.18
Q2 '24
Diluted EPS $0.21
Q3 '24
Diluted EPS $0.17
Q4 '24
Diluted EPS $1.01
Q1 '25
Diluted EPS $0.37
Q2 '25
Diluted EPS $0.42
Q3 '25
Diluted EPS $0.61
Q4 '25
Diluted EPS $0.66
Q1 '26
Diluted EPS $0.38
Q2 '26
Diluted EPS $0.62
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was $1.6B in fiscal 2025, 36.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY19
Free cash flow $1.3B
FY20
Free cash flow $1.9B
FY21
Free cash flow β$948M
FY22
Free cash flow β$880M
FY23
Free cash flow $1.2B
FY24
Free cash flow β$170M
FY25
Free cash flow $1.6B
Free cash flow
Q3 '23
Free cash flow β$978M
Q4 '23
Free cash flow $959M
Q1 '24
Free cash flow β$625M
Q2 '24
Free cash flow $54.0M
Q3 '24
Free cash flow $1.8B
Q4 '24
Free cash flow β$1.4B
Q1 '25
Free cash flow $640M
Q2 '25
Free cash flow $3.5B
Q3 '25
Free cash flow β$1.6B
Q4 '25
Free cash flow β$939M
Q1 '26
Free cash flow $2.0B
Q2 '26
Free cash flow $708M
Cash from operations vs capital spending
FY19
Cash from operations $1.3B
Capital spending $7.3M
FY20
Cash from operations $1.9B
Capital spending $24.0M
FY21
Cash from operations β$885M
Capital spending $63.0M
FY22
Cash from operations β$852M
Capital spending $28.0M
FY23
Cash from operations $1.2B
Capital spending $2.0M
FY24
Cash from operations β$157M
Capital spending $13.0M
FY25
Cash from operations $1.6B
Capital spending $15.0M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations β$977M
Capital spending $1.0M
Q4 '23
Cash from operations $960M
Capital spending $1.0M
Q1 '24
Cash from operations β$623M
Capital spending $2.0M
Q2 '24
Cash from operations $54.0M
Capital spending $0.0M
Q3 '24
Cash from operations $1.8B
Capital spending $7.0M
Q4 '24
Cash from operations β$1.4B
Capital spending $4.0M
Q1 '25
Cash from operations $642M
Capital spending $2.0M
Q2 '25
Cash from operations $3.5B
Capital spending $8.0M
Q3 '25
Cash from operations β$1.6B
Capital spending $3.0M
Q4 '25
Cash from operations β$937M
Capital spending $2.0M
Q1 '26
Cash from operations $2.0B
Capital spending $9.0M
Q2 '26
Cash from operations $720M
Capital spending $12.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· Robinhood returned $653M to shareholders in fiscal 2025, 40% of free cash flow. The diluted share count rose 1.4%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY19
Dividends $0.0M
Buybacks $0.0M
FY20
Dividends $0.0M
Buybacks $0.0M
FY21
Dividends $0.0M
Buybacks $0.0M
FY22
Dividends $0.0M
Buybacks $0.0M
FY23
Dividends $0.0M
Buybacks $608M
FY24
Dividends $0.0M
Buybacks $257M
FY25
Dividends $0.0M
Buybacks $653M
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends $0.0M
Buybacks $0.0M
Q4 '23
Dividends $0.0M
Buybacks $0.0M
Q1 '24
Dividends $0.0M
Buybacks $0.0M
Q2 '24
Dividends $0.0M
Buybacks $0.0M
Q3 '24
Dividends $0.0M
Buybacks $97.0M
Q4 '24
Dividends $0.0M
Buybacks $160M
Q1 '25
Dividends $0.0M
Buybacks $322M
Q2 '25
Dividends $0.0M
Buybacks $124M
Q3 '25
Dividends $0.0M
Buybacks $107M
Q4 '25
Dividends $0.0M
Buybacks $100M
Q1 '26
Dividends $0.0M
Buybacks $250M
Q2 '26
Dividends $0.0M
Buybacks $414M
Dividends
Buybacks
Diluted shares outstanding (annual)
FY19
Diluted shares 0.22B
FY20
Diluted shares 0.25B
FY21
Diluted shares 0.49B
FY22
Diluted shares 0.88B
FY23
Diluted shares 0.89B
FY24
Diluted shares 0.91B
FY25
Diluted shares 0.92B
Insider trades
KIRA Β· In the last 12 months, insiders bought $55.3M and sold $613M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$55.3M
1 insider
Sold, 12 months
$613M
10 insiders
Of sales under plans
72%
$443M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 21, 2026 | Baiju BhattDirector | Sold plan | 50,912 | $101.40 | $5.2M | Form 4 |
| Oct 5, 2026 | Vladimir TenevChief Executive Officer, Director | Sold plan | 375,000 | $113.72 | $42.6M | Form 4 |
| Oct 5, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $113.71 | $1.1M | Form 4 |
| Sep 22, 2026 | Vladimir TenevChief Executive Officer, Director | Sold plan | 240,834 | $125.33 | $30.2M | Form 4 |
| Sep 21, 2026 | Vladimir TenevChief Executive Officer, Director | Sold plan | 259,166 | $125.58 | $32.5M | Form 4 |
| Sep 15, 2026 | Shiv VermaChief Financial Officer | Sold plan | 11,472 | $110.43 | $1.3M | Form 4 |
| Sep 10, 2026 | Baiju BhattDirector | Sold plan | 43,373 | $114.28 | $5.0M | Form 4 |
| Sep 8, 2026 | Oluwadara Johnson TresederDirector | Sold plan | 1,875 | $125.00 | $0.2M | Form 4 |
| Sep 3, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $122.43 | $1.2M | Form 4 |
| Sep 3, 2026 | Steven M. QuirkChief Brokerage Officer | Sold plan | 24,416 | $120.33 | $2.9M | Form 4 |
| Aug 17, 2026 | Shiv VermaChief Financial Officer | Sold plan | 3,982 | $95.07 | $0.4M | Form 4 |
| Aug 14, 2026 | Baiju BhattDirector | Sold plan | 50,317 | $96.80 | $4.9M | Form 4 |
| Aug 3, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $90.42 | $0.9M | Form 4 |
| Jul 24, 2026 | Baiju BhattDirector | Sold plan | 49,223 | $95.09 | $4.7M | Form 4 |
| Jul 15, 2026 | Shiv VermaChief Financial Officer | Sold plan | 3,982 | $114.71 | $0.5M | Form 4 |
| Jul 6, 2026 | Vladimir TenevChief Executive Officer, Director | Sold plan | 375,000 | $116.17 | $43.6M | Form 4 |
| Jul 6, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $116.14 | $1.2M | Form 4 |
| Jul 2, 2026 | Steven M. QuirkChief Brokerage Officer | Sold plan | 19,377 | $119.96 | $2.3M | Form 4 |
| Jul 2, 2026 | Paula LoopDirector | Sold plan | 8,336 | $120.00 | $1.0M | Form 4 |
| Jul 2, 2026 | Oluwadara Johnson TresederDirector | Sold plan | 3,750 | $117.50 | $0.4M | Form 4 |
| Jun 15, 2026 | Shiv VermaChief Financial Officer | Sold plan | 3,984 | $98.84 | $0.4M | Form 4 |
| Jun 11, 2026 | Baiju BhattDirector | Sold plan | 57,898 | $89.63 | $5.2M | Form 4 |
| Jun 5, 2026 | Meyer MalkaDirector | Bought | 250,000 | $80.74 | $20.2M | Form 4 |
| Jun 3, 2026 | Meyer MalkaDirector | Bought | 181,000 | $83.45 | $15.1M | Form 4 |
| Jun 3, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $83.68 | $0.8M | Form 4 |
| Jun 3, 2026 | Steven M. QuirkChief Brokerage Officer | Sold plan | 10,837 | $85.91 | $0.9M | Form 4 |
| May 28, 2026 | Meyer MalkaDirector | Bought | 249,000 | $80.39 | $20.0M | Form 4 |
| May 20, 2026 | Baiju BhattDirector | Sold plan | 67,422 | $75.38 | $5.1M | Form 4 |
| May 15, 2026 | Shiv VermaChief Financial Officer | Sold plan | 5,436 | $77.36 | $0.4M | Form 4 |
| May 4, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $76.89 | $0.8M | Form 4 |
| Apr 27, 2026 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,835 | $83.92 | $0.5M | Form 4 |
| Apr 16, 2026 | Baiju BhattDirector | Sold plan | 57,261 | $86.38 | $4.9M | Form 4 |
| Apr 15, 2026 | Steven M. QuirkChief Brokerage Officer | Sold plan | 8,540 | $84.93 | $0.7M | Form 4 |
| Apr 15, 2026 | Shiv VermaChief Financial Officer | Sold plan | 5,436 | $85.86 | $0.5M | Form 4 |
| Apr 6, 2026 | Vladimir TenevChief Executive Officer, Director | Sold plan | 375,000 | $69.83 | $26.2M | Form 4 |
| Apr 6, 2026 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,835 | $69.85 | $0.4M | Form 4 |
| Apr 6, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $69.85 | $0.7M | Form 4 |
| Mar 20, 2026 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,835 | $71.36 | $0.4M | Form 4 |
| Mar 20, 2026 | Baiju BhattDirector | Sold plan | 67,422 | $71.32 | $4.8M | Form 4 |
| Mar 16, 2026 | Shiv VermaChief Financial Officer | Sold plan | 5,438 | $75.00 | $0.4M | Form 4 |
| Mar 5, 2026 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,836 | $80.50 | $0.5M | Form 4 |
| Mar 3, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $75.49 | $0.8M | Form 4 |
| Feb 23, 2026 | Baiju BhattDirector | Sold plan | 65,694 | $72.30 | $4.7M | Form 4 |
| Feb 17, 2026 | Shiv VermaChief Financial Officer | Sold plan | 5,474 | $75.13 | $0.4M | Form 4 |
| Feb 9, 2026 | Jason WarnickFormer Chief Financial Officer | Sold plan | 125,000 | $85.09 | $10.6M | Form 4 |
| Feb 3, 2026 | Steven M. QuirkChief Brokerage Officer | Sold plan | 52,540 | $87.81 | $4.6M | Form 4 |
| Feb 3, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $87.07 | $0.9M | Form 4 |
| Jan 26, 2026 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,864 | $107.48 | $0.6M | Form 4 |
| Jan 5, 2026 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,864 | $121.59 | $0.7M | Form 4 |
| Jan 5, 2026 | Vladimir TenevChief Executive Officer, Director | Sold plan | 375,000 | $121.63 | $45.6M | Form 4 |
| Jan 5, 2026 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $121.58 | $1.2M | Form 4 |
| Dec 22, 2025 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,864 | $122.39 | $0.7M | Form 4 |
| Dec 5, 2025 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,865 | $132.26 | $0.8M | Form 4 |
| Dec 3, 2025 | Steven M. QuirkChief Brokerage Officer | Sold plan | 49,942 | $131.15 | $6.5M | Form 4 |
| Dec 3, 2025 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 120,000 | $132.13 | $15.9M | Form 4 |
| Nov 26, 2025 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 50,000 | $121.33 | $6.1M | Form 4 |
| Nov 24, 2025 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 10,000 | $112.98 | $1.1M | Form 4 |
| Nov 17, 2025 | Baiju BhattDirector | Sold plan | 418,338 | $116.56 | $48.8M | Form 4 |
| Nov 11, 2025 | Jonathan RubinsteinDirector | Sold plan | 42,430 | $132.26 | $5.6M | Form 4 |
| Nov 11, 2025 | Jason WarnickChief Financial Officer | Sold plan | 300,000 | $132.81 | $39.8M | Form 4 |
| Nov 7, 2025 | Baiju BhattDirector | Sold | 1,330,000 | $128.47 | $171M | Form 4 |
| Nov 4, 2025 | Steven M. QuirkChief Brokerage Officer | Sold plan | 48,350 | $140.61 | $6.8M | Form 4 |
| Nov 3, 2025 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 25,000 | $145.95 | $3.6M | Form 4 |
| Oct 27, 2025 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,864 | $146.91 | $0.9M | Form 4 |
| Oct 21, 2025 | Baiju BhattDirector | Sold plan | 418,338 | $133.10 | $55.7M | Form 4 |
| Oct 6, 2025 | Jeffrey Tsvi PinnerChief Technology Officer | Sold plan | 5,864 | $147.53 | $0.9M | Form 4 |
| Oct 3, 2025 | Daniel Martin Gallagher JrChief Legal Officer | Sold plan | 25,000 | $148.34 | $3.7M | Form 4 |
| Oct 1, 2025 | Vladimir TenevChief Executive Officer, Director | Sold plan | 750,000 | $139.73 | $105M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Robinhood can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY19
Cash $644M
Debt β
FY20
Cash $1.4B
Debt β
FY21
Cash $6.3B
Debt β
FY22
Cash $6.3B
Debt β
FY23
Cash $4.8B
Debt β
FY24
Cash $4.3B
Debt β
FY25
Cash $4.3B
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $6.3B | $6.3B | $4.8B | $4.3B | $4.3B |
| Interest coverage | β306.1x | β84.6x | β43.4x | 67.5x | 69.0x |
| Current ratio | 1.6x | 1.4x | 1.6x | 1.4x | 1.3x |
| Quick ratio | 1.6x | 1.4x | 1.6x | 1.4x | 1.3x |
| Total assets | $19.8B | $23.3B | $17.6B | $26.2B | $38.1B |
| Total liabilities | $12.5B | $16.4B | $10.9B | $18.2B | $29.0B |
| Shareholders' equity | $7.3B | $7.0B | $6.7B | $8.0B | $9.2B |
| Net debt (β = net cash) | β | β | β | β | β |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY19
Return on capital β
Return on equity β
Return on assets β
FY20
Return on capital β
Return on equity β
Return on assets β
FY21
Return on capital β
Return on equity β101.9%
Return on assets β24.0%
FY22
Return on capital β
Return on equity β14.4%
Return on assets β4.8%
FY23
Return on capital β
Return on equity β7.9%
Return on assets β2.6%
FY24
Return on capital β
Return on equity 19.2%
Return on assets 6.4%
FY25
Return on capital β
Return on equity 22.0%
Return on assets 5.9%
Return on capital
Return on equity
Return on assets
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | β / 9 | β / 9 | β / 9 |
| Accruals ratio | β8.4% | 7.2% | 0.8% |
| Altman Z'' | 1.76 | 1.99 | 1.82 |
Price and value
What does the share cost, and how does it compare?
Value Robinhood yourself
KIRA Β· At $92.84 a share, the company is worth $84.7B: 40.9 times its earnings of the last four quarters.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Discounted cash flow
Value per share
β
Adds net cash of β and divides by 918.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
β
Reference multiples: today 41.9x Β· peers β Β· sector 13.7x.
Similar companies
KIRA Β· Robinhood grew sales faster than 2 of its 2 similar companies. Its P/E is higher than 1 of 1.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Robinhood HOOD | $84.7B | 51.6% | β | 36.3% | β | 40.9x | β | |
| Coinbase COIN | $42.0B | 9.4% | 20.0% | 31.9% | 14.5% | β | 4 | Compare β |
| PayPal PYPL | $50.6B | 4.3% | 18.3% | 16.8% | 25.7% | 10.3x | 7 | Compare β |
All figures
Every number, year by year.
7 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $278M | $958M | $1.8B | $1.4B | $1.9B | $3.0B | $4.5B |
| Research and development | $27.7M | $52.0M | $438M | $381M | $349M | $323M | $355M |
| Interest expense | $0.6M | $3.0M | $12.0M | $12.0M | $12.0M | $16.0M | $31.0M |
| Pretax income | β$108M | $13.0M | β$3.7B | β$1.0B | β$533M | $1.1B | $2.1B |
| Income tax | β$1.0M | $6.0M | $2.0M | $1.0M | $8.0M | β$347M | $225M |
| Net income | β$107M | $7.0M | β$3.7B | β$1.0B | β$541M | $1.4B | $1.9B |
| Diluted EPS | β$0.48 | $0.01 | β$7.49 | β$1.17 | β$0.61 | $1.56 | $2.05 |
| Diluted shares | 0.22B | 0.25B | 0.49B | 0.88B | 0.89B | 0.91B | 0.92B |
| Cash flow | |||||||
| Cash from operations | $1.3B | $1.9B | β$885M | β$852M | $1.2B | β$157M | $1.6B |
| Capital expenditure | $7.3M | $24.0M | $63.0M | $28.0M | $2.0M | $13.0M | $15.0M |
| Free cash flow | $1.3B | $1.9B | β$948M | β$880M | $1.2B | β$170M | $1.6B |
| Depreciation and amortization | $5.4M | $10.0M | $26.0M | $61.0M | $71.0M | $77.0M | $86.0M |
| Stock-based compensation | $26.7M | $24.0M | $1.6B | $654M | $871M | $304M | $305M |
| Acquisitions | $0.0M | $0.0M | $125M | $0.0M | $93.0M | $6.0M | $399M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $608M | $257M | $653M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $608M | $257M | $653M |
| Balance sheet | |||||||
| Cash and short-term investments | $644M | $1.4B | $6.3B | $6.3B | $4.8B | $4.3B | $4.3B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | β | $10.9B | $19.3B | $22.9B | $17.1B | $25.1B | $36.3B |
| Current liabilities | β | $8.8B | $12.3B | $16.3B | $10.8B | $18.1B | $28.8B |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | β | $45.8M | $146M | $146M | $120M | $139M | $154M |
| Total assets | β | $11.0B | $19.8B | $23.3B | $17.6B | $26.2B | $38.1B |
| Total liabilities | β | $8.9B | $12.5B | $16.4B | $10.9B | $18.2B | $29.0B |
| Shareholders' equity | β$97.0M | β$55.0M | $7.3B | $7.0B | $6.7B | $8.0B | $9.2B |
| Margins | |||||||
| EBITDA margin | β36.6% | 2.7% | β200.9% | β70.3% | β24.1% | 39.2% | 49.7% |
| Net margin | β38.4% | 0.7% | β203.1% | β75.7% | β29.0% | 47.8% | 42.1% |
| FCF margin | 451.4% | 193.3% | β52.2% | β64.8% | 63.2% | β5.8% | 36.3% |
| Returns | |||||||
| Return on capital employed | β | β | β76.6% | β14.0% | β7.5% | 14.5% | 24.5% |
| Return on equity | β | β | β101.9% | β14.4% | β7.9% | 19.2% | 22.0% |
| Return on assets | β | β | β24.0% | β4.8% | β2.6% | 6.4% | 5.9% |
| Growth | |||||||
| Revenue growth | β | 245.2% | 89.5% | β25.2% | 37.3% | 58.2% | 51.6% |
| Net income growth | β | β | β52,771.4% | β | β | β | 33.5% |
| EPS growth | β | β | β75,000.0% | β | β | β | 31.4% |
| FCF growth | β | 47.8% | β151.2% | β | β | β114.4% | β |
| Share count change | β | 10.5% | 101.0% | 78.5% | 1.4% | 1.7% | 1.4% |
| Financial health | |||||||
| Interest coverage | β172.3x | 5.3x | β306.1x | β84.6x | β43.4x | 67.5x | 69.0x |
| Current ratio | β | 1.2x | 1.6x | 1.4x | 1.6x | 1.4x | 1.3x |
| Quick ratio | β | 1.2x | 1.6x | 1.4x | 1.6x | 1.4x | 1.3x |
| Capital allocation | |||||||
| Capex / revenue | 2.6% | 2.5% | 3.5% | 2.1% | 0.1% | 0.4% | 0.3% |
| Stock comp / revenue | 9.6% | 2.5% | 86.6% | 48.2% | 46.7% | 10.3% | 6.8% |
| Payouts / FCF | 0.0% | 0.0% | β | β | 51.6% | β | 40.2% |
| Quality scores | |||||||
| Altman Z'' | β | 1.2 | 1.0 | 1.3 | 1.8 | 2.0 | 1.8 |
| Accruals ratio | β | β | β18.2% | β0.8% | β8.4% | 7.2% | 0.8% |
Source: SEC EDGAR XBRL filings (CIK 0001783879). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.