Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Robinhood Markets

HOOD stock analysis · Financials · Investment Banking & Brokerage

FY 2025-12-31ANNUAL FILINGSMULTIPLE SHARE CLASSES
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained. Issuer-level values span share classes. Reviewed equivalent shares are used when available; the price panel explains the capital basis.
Reference share price · USD
$100.28HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$90.2B

Reviewed economically equivalent common shares; unlisted/other class priced at the displayed class price (proxy). Shares measured 2026-06-30. Approximate; share and price dates can differ. Dated inline facts A790m and B109m sum to899m Jun30 equity roll-forward. The balance-sheet prose lists B111m Dec31 before B109m Jun30; do not reverse the two dates. EPS note confirms identical liquidation/dividend rights, voting differs. Subsidiary IPO noncontrolling interest still requires parent financial attribution checks.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

-64.5%

69 sector peers · median 17.0×

How this is calculated ↗
Valuation

Historical multiples

Requires three annual historical market caps and eligible filed earnings.

Requires three annual historical market caps and eligible filed earnings.

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

45.6%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

0.7%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 1.9B2020-12-31: cfo $1,876,000,000.002020-12-31: capex $24,000,000.0020202021-12-31: cfo -$885,000,000.00 (negative; lower scale compressed)2021-12-31: capex $63,000,000.0020212022-12-31: cfo -$852,000,000.00 (negative; lower scale compressed)2022-12-31: capex $28,000,000.0020222023-12-31: cfo $1,181,000,000.0020232024-12-31: cfo -$157,000,000.00 (negative; lower scale compressed)20242025-12-31: cfo $1,638,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-314.5B1.9B1.6B38.1B
2024-12-313B1.4B-157M26.2B
2023-12-311.9B-541M1.2B17.6B
2022-12-311.4B-1B-852M28M23.3B
2021-12-311.8B-3.7B-885M63M19.8B
2020-12-31958M7M1.9B24M11B
2019-12-31277.5M-106.6M1.3B7.3M

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue4.5BRevenues2026-02-20
netIncome1.9BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-20
Parent/common earnings proxy1.9BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-20
cfo1.6BNetCashProvidedByUsedInOperatingActivities2026-02-20
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets38.1BAssets2026-02-20
equity9.2BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent book equity proxy9.1BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest − MinorityInterest
Parent stockholders' equity derived by removing explicitly reported noncontrolling interests; preferred equity may remain included.
2026-02-20
debtNot reported under a supported tag
shortDebtNot reported under a supported tag
cash4.3BCashAndCashEquivalentsAtCarryingValue2026-02-20
shares918.8MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-20
dividends0Reviewed manual correction
This issuer explicitly confirms in its annual filing that it has never declared or paid cash dividends on its common/capital stock. Reviewed cash-dividend zero, bounded to fiscal period ending 2025-12-31. The exact statement and source filing are retained in the evidence record. This is explicit filing evidence, not an assumption from an absent cash-flow line. Surrounding source passage reviewed as the registrant’s own common-stock policy, not a subsidiary or predecessor statement.
2026-02-20
buybacks653MPaymentsForRepurchaseOfCommonStock2026-02-20
issuance38MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from exercise of stock options: 16000000 USD [us-gaap:ProceedsFromStockOptionsExercised]; Proceeds from issuance of common stock under the Employee Share Purchase Plan: 22000000 USD [us-gaap:ProceedsFromStockPlans]. All 11 financing lines reconcile exactly to reported financing cash flow -590000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-02-20