Robinhood Markets, Inc. Financials
Robinhood Markets, Inc. (HOOD) reported $4.5B in revenue for fiscal year 2025, up 51.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Robinhood’s earnings turnaround now looks driven by scale landing on a leaner cost base, with cash generation finally catching up.
FY2024 showed a profit-quality gap: net income turned positive at$1.4B even though operating cash flow was still-$157M . By FY2025, cash conversion caught up, with operating cash flow reaching$1.6B against$1.9B of net income, so the turnaround stopped being mainly accounting profit and started appearing in cash.
The balance sheet is doing more of the work in shareholder returns: return on equity rose to
The profit lift looks tied less to product cutbacks than to a leaner overhead structure: selling and administrative expense fell from
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Robinhood Markets, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Robinhood Markets, Inc., and counted as zero in the overall score.
Not available for Robinhood Markets, Inc., and counted as zero in the overall score.
Robinhood Markets, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Robinhood Markets, Inc. generates $0.87 in operating cash flow ($1.6B OCF vs $1.9B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Robinhood Markets, Inc. generated $4.5B in revenue in fiscal year 2025. This represents an increase of 51.6% from the prior year.
Robinhood Markets, Inc. reported $1.9B in net income in fiscal year 2025. This represents an increase of 33.5% from the prior year.
Robinhood Markets, Inc. earned $2.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 31.4% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Robinhood Markets, Inc. held $4.3B in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Robinhood Markets, Inc.'s net profit margin was 42.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.7 percentage points from the prior year.
Robinhood Markets, Inc.'s ROE was 20.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.9 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Robinhood Markets, Inc. invested $355.0M in research and development in fiscal year 2025. This represents an increase of 9.9% from the prior year.
Robinhood Markets, Inc. spent $653.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 154.1% from the prior year.
Not reported for fiscal year 2025.
HOOD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.9B | $4.5B+51.6% | $3.0B+58.2% | $1.9B+37.3% | $1.4B-25.2% | $1.8B+89.5% | $958.0M+245.2% | $277.5M |
| R&D Expenses | N/A | $355.0M+9.9% | $323.0M-7.4% | $349.0M-8.4% | $381.0M-13.0% | $438.0M+742.3% | $52.0M+87.7% | $27.7M |
| SG&A Expenses | $736.0M | $628.0M+38.0% | $455.0M-61.1% | $1.2B+26.5% | $924.0M-32.6% | $1.4B+364.7% | $295.0M+245.0% | $85.5M |
| Interest Expense | $1.6B | $1.5B+36.5% | $1.1B+19.4% | $929.0M+119.1% | $424.0M+65.6% | $256.0M+44.6% | $177.0M+150.6% | $70.6M |
| Income Tax | $335.0M | $225.0M+164.8% | -$347.0M-4437.5% | $8.0M+700.0% | $1.0M-50.0% | $2.0M-66.7% | $6.0M+689.4% | -$1.0M |
| Net Income | $2.1B | $1.9B+33.5% | $1.4B+360.8% | -$541.0M+47.4% | -$1.0B+72.1% | -$3.7B-52771.4% | $7.0M+106.6% | -$106.6M |
| EPS (Diluted) | — | $2.05+31.4% | $1.56+355.7% | -$0.61+47.9% | -$1.17 | -$7.49-75000.0% | $0.01 | -$0.48 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Operating Income.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HOOD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $38.1B+45.6% | $26.2B+48.6% | $17.6B-24.5% | $23.3B+18.0% | $19.8B+79.9% | $11.0B | N/A |
| Current Assets | $36.3B+44.6% | $25.1B+47.0% | $17.1B-25.5% | $22.9B+18.8% | $19.3B+77.4% | $10.9B | N/A |
| Cash & Equivalents | $4.3B-1.6% | $4.3B-10.4% | $4.8B-23.7% | $6.3B+1.4% | $6.3B+345.7% | $1.4B+117.8% | $644.0M |
| Goodwill | $385.0M+115.1% | $179.0M+2.3% | $175.0M+75.0% | $100.0M-1.0% | $101.0M | $0 | N/A |
| Total Liabilities | $29.0B+59.1% | $18.2B+66.7% | $10.9B-33.3% | $16.4B+31.3% | $12.5B+40.7% | $8.9B | N/A |
| Current Liabilities | $28.8B+58.9% | $18.1B+67.1% | $10.8B-33.3% | $16.3B+31.6% | $12.3B+40.1% | $8.8B | N/A |
| Total Equity | $9.2B+14.8% | $8.0B+19.1% | $6.7B-3.7% | $7.0B-4.6% | $7.3B+13360.0% | -$55.0M+43.3% | -$97.0M |
| Retained Earnings | -$2.2B+46.7% | -$4.0B+25.9% | -$5.4B-11.0% | -$4.9B-26.5% | -$3.9B-1939.4% | -$190.1M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
HOOD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $245.0M | $1.6B+1143.3% | -$157.0M-113.3% | $1.2B+238.6% | -$852.0M+3.7% | -$885.0M-147.2% | $1.9B+48.9% | $1.3B |
| Capital Expenditures | N/A | N/A | N/A | N/A | $28.0M-55.6% | $63.0M+162.5% | $24.0M+230.8% | $7.3M |
| Free Cash Flow | N/A | N/A | N/A | N/A | -$880.0M+7.2% | -$948.0M-151.2% | $1.9B+47.8% | $1.3B |
| Investing Cash Flow | -$1.8B | $141.0M+195.3% | -$148.0M+74.6% | -$582.0M-870.0% | -$60.0M+74.8% | -$238.0M-643.8% | -$32.0M-159.9% | -$12.3M |
| Financing Cash Flow | $2.2B | -$590.0M-71.0% | -$345.0M+43.4% | -$610.0M | $0-100.0% | $5.2B+307.8% | $1.3B+239.9% | $375.4M |
| Share Buybacks | $871.0M | $653.0M+154.1% | $257.0M-57.7% | $608.0M | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HOOD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Net Margin | 42.1%-5.7pp | 47.8%+76.8pp | -29.0%+46.7pp | -75.7% | -203.1% | 0.7%+39.1pp | -38.4% |
| Return on Equity | 20.6%+2.9pp | 17.7%+25.8pp | -8.1%+6.7pp | -14.8%+35.8pp | -50.6% | N/A | N/A |
| Return on Assets | 4.9%-0.5pp | 5.4%+8.5pp | -3.1%+1.3pp | -4.4%+14.2pp | -18.6%-18.7pp | 0.1% | N/A |
| Current Ratio | 1.26-0.1x | 1.39-0.2x | 1.58+0.2x | 1.41-0.2x | 1.56+0.3x | 1.23 | N/A |
| Debt-to-Equity | 3.17+0.9x | 2.28+0.7x | 1.63-0.7x | 2.35+0.6x | 1.71 | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | -64.8%-12.6pp | -52.2% | 193.3% | 451.4% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.
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Where Robinhood Markets, Inc. Ranks
Frequently Asked Questions
What is Robinhood Markets, Inc.'s annual revenue?
Robinhood Markets, Inc. (HOOD) reported $4.5B in total revenue for fiscal year 2025. This represents a 51.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Robinhood Markets, Inc.'s revenue growing?
Robinhood Markets, Inc. (HOOD) revenue grew by 51.6% year-over-year, from $3.0B to $4.5B in fiscal year 2025.
Is Robinhood Markets, Inc. profitable?
Yes, Robinhood Markets, Inc. (HOOD) reported a net income of $1.9B in fiscal year 2025, with a net profit margin of 42.1%.
What is Robinhood Markets, Inc.'s net profit margin?
Robinhood Markets, Inc. (HOOD) had a net profit margin of 42.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Robinhood Markets, Inc.'s return on equity (ROE)?
Robinhood Markets, Inc. (HOOD) has a return on equity of 20.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Robinhood Markets, Inc.'s operating cash flow?
Robinhood Markets, Inc. (HOOD) generated $1.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Robinhood Markets, Inc.'s total assets?
Robinhood Markets, Inc. (HOOD) had $38.1B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Robinhood Markets, Inc. spend on research and development?
Robinhood Markets, Inc. (HOOD) invested $355.0M in research and development during fiscal year 2025.
What is Robinhood Markets, Inc.'s current ratio?
Robinhood Markets, Inc. (HOOD) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.
What is Robinhood Markets, Inc.'s debt-to-equity ratio?
Robinhood Markets, Inc. (HOOD) had a debt-to-equity ratio of 3.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Robinhood Markets, Inc.'s return on assets (ROA)?
Robinhood Markets, Inc. (HOOD) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Robinhood Markets, Inc.'s Piotroski F-Score?
Robinhood Markets, Inc. (HOOD) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Robinhood Markets, Inc.'s earnings high quality?
Robinhood Markets, Inc. (HOOD) has an earnings quality ratio of 0.87x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Robinhood Markets, Inc.?
Robinhood Markets, Inc. (HOOD) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.