Robinhood Markets, Inc.
- Open
- 119.16
- Day high
- 119.43
- Day low
- 108.81
- Prev close
- 115.11
- Volume
- 25.6M
- Mkt cap
- $100.8B
- P/E (TTM)
- 52.6
- EPS (TTM)
- $2.13
- P/B
- 10.8
- P/S
- 21.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$17.0M over the last 3 months (4 open-market buys, 57 sales)
- 🏛Institutions mixed (13F)
Robinhood Markets, Inc. (HOOD) is a Financial Services company listed on NASDAQ. The stock is up 17% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 57 sales (SEC Form 4). Drillr has 4 published research articles covering HOOD.
Robinhood Markets, Inc. (HOOD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 16 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HOOD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.39 | $0.38 | -1.4% | $1.1B | -6.4% |
| Nov 5, 2025 | $0.54 | $0.61 | +13.4% | $1.3B | +5.1% |
| Jul 30, 2025 | $0.31 | $0.42 | +36.9% | $989M | +8.1% |
| Apr 30, 2025 | $0.33 | $0.37 | +13.7% | $927M | +0.8% |
| Feb 12, 2025 | $0.42 | $0.54 | +29.1% | $1.0B | +7.2% |
| Feb 13, 2024 | $0.01 | $0.03 | +305.4% | $481M | +5.3% |
| Aug 2, 2023 | $0.01 | $0.03 | +309.8% | $491M | +3.6% |
| Feb 8, 2023 | $-0.13 | $-0.19 | -46.2% | $386M | -8.6% |
| Nov 2, 2022 | $-0.33 | $-0.20 | +39.4% | $367M | +1.2% |
| Aug 2, 2022 | $-0.36 | $-0.34 | +5.6% | $318M | +1.4% |
| Apr 28, 2022 | $-0.31 | $0.21 | +167.7% | $305M | -14.0% |
| Jan 27, 2022 | $-0.34 | $-0.49 | -44.1% | $369M | -2.0% |
HOOD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 2,953 | $116.80 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 50,980 | $114.33 |
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 400 | $118.45 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 115,773 | $117.27 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 68,046 | $116.38 |
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 2,547 | $117.80 |
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 900 | $115.76 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 13,000 | $113.17 |
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 500 | $112.06 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 59,824 | $118.14 |
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 700 | $113.59 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 49,177 | $115.03 |
| Jul 8, 2026 | Tenev Vladimirdirector, officer: Chief Executive Officer | Sell | 18,200 | $112.22 |
| Jul 8, 2026 | Gallagher Daniel Martin Jrofficer: Chief Legal Officer | Sell | 2,000 | $114.68 |
| Jul 7, 2026 | Treseder Oluwadara Johnsondirector | Sell | 1,875 | $115.00 |
Source: HOOD SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full HOOD insider & 13F page →HOOD research & analysis
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Robinhood Markets, Inc. company profile
Overview
Robinhood Markets, Inc. (NASDAQ:HOOD) is a financial technology company that democratized stock trading by eliminating commission fees for retail investors. Founded in 2013 by Vladimir Tenev and Baiju Bhatt, the company launched its mobile-first trading platform in 2015 and went public in July 2021. Robinhood has grown from a simple stock trading app to a comprehensive financial services platform serving over 25 million funded accounts, offering everything from cryptocurrency trading to retirement accounts and credit cards.
Business
Robinhood operates as a commission-free financial services platform that enables retail investors to trade stocks, options, exchange-traded funds (ETFs), cryptocurrencies, and other financial instruments through its mobile app and web platform. The company pioneered the concept of zero-commission trading in the retail brokerage industry, which traditionally charged $5-10 per trade. The platform's core offering centers around democratizing finance by making investing accessible to younger, tech-savvy consumers who were previously priced out of traditional brokerage services. Users can buy and sell securities with no minimum account balance and access real-time market data, research tools, and educational content through an intuitive mobile interface. Robinhood's business operates across several key segments: 1. Transaction-based revenues (~40% of total revenue): Generated from payment for order flow (PFOF), where market makers pay Robinhood for routing customer orders to them, plus cryptocurrency trading spreads and regulatory fees. 2. Net interest revenues (~25% of total revenue): Earned from margin lending to customers, securities lending, and interest on customer cash balances held in money market funds. 3. Subscription and services (~35% of total revenue): Primarily from Robinhood Gold, a premium subscription service offering margin trading, research reports, and higher interest rates on cash, plus newer offerings like credit cards and professional trading platforms. The company has expanded beyond basic trading to include Robinhood Gold (premium subscription), Robinhood Retirement (IRA accounts), Robinhood Legend (professional desktop platform), futures trading, and international expansion through its UK operations and Bitstamp cryptocurrency exchange acquisition.
Revenue model
Robinhood generates revenue through three primary business models that capitalize on customer trading activity and account balances without charging traditional commission fees. Payment for Order Flow (PFOF) represents the largest revenue stream, where market makers like Citadel Securities and Virtu Financial pay Robinhood to route customer orders to them. These market makers profit from the bid-ask spread while providing Robinhood with rebates typically ranging from $0.001 to $0.01 per share. This model allows Robinhood to offer commission-free trading while monetizing customer volume. Net Interest Revenue comes from lending customer cash and securities. Robinhood earns interest on customer cash balances held in money market funds, charges interest on margin loans to customers who borrow to buy securities, and participates in securities lending programs where customer shares are loaned to short sellers for a fee. Subscription and Service Fees generate recurring revenue primarily through Robinhood Gold, which costs $5 monthly and provides margin trading, research tools, and higher interest rates on cash. The company also earns from its Gold credit card (interchange fees), professional trading platforms, and cryptocurrency trading spreads. Several factors significantly impact Robinhood's margins. Market volatility drives trading volume and transaction revenues, while interest rate environments affect net interest margins on cash balances and margin lending. Regulatory changes around PFOF could eliminate this revenue stream, as proposed by some policymakers. Competition from traditional brokers who have also eliminated commissions pressures pricing power, while crypto market conditions heavily influence cryptocurrency trading volumes and related revenues. Customer acquisition costs and marketing expenses also impact profitability, particularly as the company expands internationally and launches new products.
Competitive moat
Robinhood's competitive moat is moderately strong but faces significant challenges. The company's primary advantages stem from its first-mover status in commission-free trading and its mobile-native platform designed for younger investors. Network effects provide some protection as Robinhood's large user base of 25 million funded accounts creates valuable order flow that attracts market makers willing to pay higher PFOF rates. The platform's social features, including watchlists and community discussions, create mild switching costs as users build personalized experiences and social connections. Brand recognition among younger demographics gives Robinhood an edge in customer acquisition, particularly among millennials and Gen Z investors who prefer mobile-first experiences. The company's reputation for innovation and democratizing finance resonates with this target market. However, Robinhood's moat faces substantial threats. Regulatory risk poses the greatest challenge, as potential PFOF bans could eliminate 40% of revenues overnight. Traditional brokers like Charles Schwab, Fidelity, and E*TRADE have largely replicated Robinhood's commission-free model while offering superior research tools, customer service, and product breadth. Commoditization of basic trading services means Robinhood must continuously innovate to maintain differentiation. Technology disruption from cryptocurrency platforms, robo-advisors, and emerging fintech companies creates ongoing competitive pressure. The company's early technical issues, including system outages during high-volume trading periods, have damaged its reliability reputation among active traders. While Robinhood has expanded into adjacent financial services like banking and credit cards, these markets are highly competitive with established players offering superior products and customer relationships. The company's moat is best described as narrow but defendable through continuous product innovation and customer experience improvements.
Risks & safety
Robinhood demonstrates strong financial stability with minimal solvency risk and improving profitability metrics. Liquidity and Solvency: - Cash and short-term investments: $4.4 billion provides substantial liquidity buffer - Current ratio: 1.35x indicates adequate short-term liquidity - Debt-to-equity ratio: 0.0 shows minimal leverage and financial risk - Free cash flow: $640 million (Q1 2025) demonstrates strong cash generation Valuation Metrics: - Price-to-earnings ratio: 27.4x reflects growth premium but reasonable for fintech sector - EV/EBITDA: 20.8x indicates moderate valuation relative to profitability - Price-to-book ratio: 4.6x suggests premium valuation but justified by asset-light business model - Return on equity: 4.2% shows improving profitability trends Other Considerations: - Regulatory capital requirements for brokerage operations are well-maintained - Diversified revenue streams reduce dependence on any single income source - Strong balance sheet supports continued share repurchase program ($1.5 billion authorized) - Customer assets under custody ($152 billion) provide stability and growth potential
Recent development
Over the past few years, Robinhood has executed an ambitious transformation from a simple trading app to a comprehensive financial services ecosystem. The company's strategic evolution centers on three key pillars: capturing active traders, increasing wallet share, and building global presence. Product Innovation and Expansion has been central to Robinhood's growth strategy. The company launched Robinhood Gold, which grew to 3.2 million subscribers generating over $100 million in annual recurring revenue. The introduction of the Robinhood Gold credit card with 3% cashback rewards has attracted over 100,000 cardholders with plans for significant expansion. Robinhood Legend, a professional desktop trading platform, addresses the needs of active traders and has reached $50 million in annual revenue. Advanced Trading Capabilities represent a major strategic shift toward serving sophisticated investors. The company launched futures trading, index options, and prediction markets, each generating approximately $20 million in annual recurring revenue. These products target active traders who generate higher revenue per user and represent Robinhood's push upmarket from its original retail focus. International Expansion has accelerated through both organic growth and acquisitions. Robinhood launched brokerage services in the UK and cryptocurrency trading in the EU. The $200 million acquisition of Bitstamp, a major cryptocurrency exchange, significantly expanded the company's international crypto capabilities and institutional reach. Technology and AI Integration reflects Robinhood's continued innovation focus. The company acquired Pluto Capital for AI-powered investment research and is developing Robinhood Cortex, an AI technology platform. These investments aim to provide personalized investment advice and improve customer experience through machine learning. Banking and Credit Services represent Robinhood's expansion into traditional banking. The company plans to launch Robinhood Banking in Q3 2025, targeting high-net-worth individuals. Combined with the credit card offering, this creates a more comprehensive financial relationship with customers and reduces dependence on trading-related revenues.
HOOD company profile · for informational purposes only — not investment advice.
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