Robinhood Markets
HOOD · NasdaqSecurity Brokers, Dealers & Flotation Companies · Fiscal year ends Dec 31
Robinhood Markets reported revenue of $4.5B in the fiscal year ended Dec 2025, up 51.6% from the year before. Net income was $1.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.4B | $1.9B | $3B | $4.5B |
| Research & development | $438M | $381M | $349M | $323M | $355M |
| Net interest incomeBanks | $256M | $424M | $929M | $1.1B | $1.5B |
| Pre-tax income | −$3.7B | −$1B | −$533M | $1.1B | $2.1B |
| Income tax | $2M | $1M | $8M | −$347M | $225M |
| Net income | −$3.7B | −$1B | −$541M | $1.4B | $1.9B |
| Diluted EPS | −7.49 | −1.17 | −0.61 | 1.56 | 2.05 |
| Diluted shares | 492M | 879M | 891M | 906M | 919M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $6.3B | $6.3B | $4.8B | $4.3B | $4.3B |
| Current assets | $19.3B | $22.9B | $17.1B | $25.1B | $36.3B |
| Net PP&E | $146M | $146M | $120M | $139M | $154M |
| Goodwill | $101M | $100M | $175M | $179M | $385M |
| Total assets | $19.8B | $23.3B | $17.6B | $26.2B | $38.1B |
| Deferred revenue | $6.5B | $4.7B | $5.1B | $7.4B | $12B |
| Current liabilities | $12.3B | $16.3B | $10.8B | $18.1B | $28.8B |
| Total liabilities | $12.5B | $16.4B | $10.9B | $18.2B | $29B |
| Shareholders' equity | $7.3B | $7B | $6.7B | $8B | $9.2B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$885M | −$852M | $1.2B | −$157M | $1.6B |
| Capital expenditure | $63M | $28M | – | – | – |
| Free cash flow | −$948M | −$880M | – | – | – |
| Depreciation & amortisation | $26M | $61M | $71M | $77M | $86M |
| Stock-based compensation | $1.6B | $654M | $871M | $304M | $305M |
| Acquisitions | $125M | $0 | $93M | $6M | – |
| Share buybacks | $0 | $0 | $608M | $257M | $653M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −25.2% | 37.3% | 58.2% | 51.6% |
| EPS growth (YoY) | – | – | – | – | 31.4% |
| Net margin | −203.1% | −75.7% | −29.0% | 47.8% | 42.1% |
| Return on equityBlank when equity is negative | −50.6% | −14.8% | −8.1% | 17.7% | 20.6% |
| Free cash flow margin | −52.2% | −64.8% | – | – | – |
| Cash conversion (CFO ÷ net income) | 0.24x | 0.83x | −2.18x | −0.11x | 0.87x |
| Current ratio | 1.56x | 1.41x | 1.58x | 1.39x | 1.26x |
Recent filings
More in Security Brokers, Dealers & Flotation Companies
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.