Robinhood Markets, Inc.

Financials Investment Banking & Brokerage Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.5B
                    3y CAGR +48.8%
                    
                    P98
                    
                    +51.6%
                    
                    Net income
                    FY2025
                
$1.9B
                    Net margin +42.1%
                    
                    P86
                    
                    +33.5%
                    
                    Total assets
                    FY2025
                
$38.1B
                    ROA +4.9%
                    
                    P72
                    
                    +45.6%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    FCF margin +36.3%
                    
                    P65
                    
                    +1143.3%

7 yrs · FY2019–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

21 accounts · 5 years

Total assets $38.1B

Total liabilities $29.0B

Shareholders equity $9.2B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$10.0B 10.5%	$9.1B -2.4%	$9.3B -0.5%	$9.3B -8.9%	$10.2B
Other Current Assets	$26.3B 63.9%	$16.0B -28.5%	$22.4B 66.3%	$13.5B 50.9%	$8.9B
Total Current Assets	$36.3B 44.6%	$25.1B -21.0%	$31.8B 38.7%	$22.9B 18.8%	$19.3B
Property,Plant and Equipment	$154.0M 10.8%	$139.0M 15.8%	$120.0M -17.8%	$146.0M 0.0%	$146.0M
Goodwill	$385.0M 115.1%	$179.0M 2.3%	$175.0M 75.0%	$100.0M -1.0%	$101.0M
Intangible Assets	$168.0M 342.1%	$38.0M -20.8%	$48.0M 92.0%	$25.0M -26.5%	$34.0M
Other Noncurrent Assets	$1.1B 54.5%	$728.0M 265.8%	$199.0M 33.6%	$149.0M -27.3%	$205.0M
Total Assets	$38.1B 45.6%	$26.2B -19.0%	$32.3B 38.5%	$23.3B 18.0%	$19.8B
Liabilities
Accounts Payable	$463.0M 16.6%	$397.0M 3.4%	$384.0M 107.6%	$185.0M -26.6%	$252.0M
Deferred Revenue	$12.0B 60.9%	$7.4B 46.1%	$5.1B 8.4%	$4.7B -27.4%	$6.5B
Other Current Liabilities	$16.3B 59.1%	$10.3B -48.9%	$20.1B 76.5%	$11.4B 102.3%	$5.6B
Total Current Liabilities	$28.8B 58.9%	$18.1B -29.1%	$25.5B 57.2%	$16.3B 31.6%	$12.3B
Other Noncurrent Liabilities	$215.0M 93.7%	$111.0M 22.0%	$91.0M -28.9%	$128.0M -0.8%	$129.0M
Total Liabilities	$29.0B 59.1%	$18.2B -28.9%	$25.6B 56.5%	$16.4B 31.3%	$12.5B
Equity
Preferred Stock	$0	$0	$0	$0	—
Additional Paid In Capital	$11.3B -6.0%	$12.0B -1.1%	$12.1B 2.4%	$11.9B 6.2%	$11.2B
Retained Earnings	$-2.2B 46.7%	$-4.0B 25.9%	$-5.4B -11.0%	$-4.9B -26.5%	$-3.9B
Accumulated Other Comprehensive Income	$8.0M 900.0%	$-1.0M 66.7%	$-3.0M	$0 -100.0%	$1.0M
Total Stockholders Equity	$9.2B 14.8%	$8.0B 19.1%	$6.7B -3.7%	$7.0B -4.6%	$7.3B
Noncontrolling Interest	$11.0M	$0	—	—	—
Total Liabilitiesand Equity	$38.1B 45.6%	$26.2B -19.0%	$32.3B 38.5%	$23.3B 18.0%	$19.8B

Income Statement

Revenue, expense, and profitability

14 accounts · 5 years

Revenue $4.5B

Operating income Not reported

Net income $1.9B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$4.5B 51.6%	$3.0B	—	$1.4B -25.2%	$1.8B
Expenses Research and Development	$897.0M 9.7%	$818.0M	—	$878.0M -28.8%	$1.2B
Expenses Selling,General and Administrative	$1.0B 41.3%	$727.0M	—	$1.0B -39.4%	$1.7B
Expenses Other Operating Expenses	$455.0M 29.3%	$352.0M	—	$464.0M -11.8%	$526.0M
Expenses Operating Expenses	$2.4B 25.4%	$1.9B	—	$2.4B -31.5%	$3.5B
Other Income Expense Other Income/expense	$14.0M 40.0%	$10.0M	—	$-16.0M 99.2%	$-2.0B
Other Income Expense Income Before Tax	$2.1B 98.1%	$1.1B	—	$-1.0B 72.1%	$-3.7B
Income Tax Income Tax Expense	$225.0M 164.8%	$-347.0M	—	$1.0M -50.0%	$2.0M
net Income Other Items Below Tax	$0	$0	—	—	—
net Income net Income	$1.9B 33.5%	$1.4B	—	$-1.0B 72.1%	$-3.7B
net Income Comprehensive Income	$1.9B 33.9%	$1.4B	—	$-1.0B 72.1%	$-3.7B
Earnings Per Share Basic Eps	$2 32.5%	$2	—	$-1 84.4%	$-7
Earnings Per Share Diluted Eps	$2 31.4%	$2	—	$-1 84.4%	$-7
Earnings Per Share Weighted Average Shares Diluted	$918.8M 1.4%	$906.2M	—	$878.6M 78.4%	$492.4M

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 5 years

Operating cash flow $1.6B

Investing cash flow $141.0M

Financing cash flow $-590.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$1.9B 33.5%	$1.4B	—	$-1.0B 72.1%	$-3.7B
Operating Activities Depreciation and Amortization	$86.0M 11.7%	$77.0M	—	$61.0M 134.6%	$26.0M
Operating Activities Stock Based Compensation	$305.0M 0.3%	$304.0M	—	$654.0M -58.4%	$1.6B
Operating Activities Deferred Income Taxes	$181.0M 149.1%	$-369.0M	—	$0	—
Operating Activities Changes In Operating Assets and Liabilities	$-934.0M 43.6%	$-1.7B	—	$-655.0M 28.6%	$-918.0M
Operating Activities Other Non Cash Items	$117.0M 53.9%	$76.0M	—	$116.0M -94.5%	$2.1B
Operating Activities net Cash From Operating Activities	$1.6B 1143.3%	$-157.0M	—	$-852.0M 3.7%	$-885.0M
Investing Activities Capital Expenditures	$-15.0M -15.4%	$-13.0M	—	$-28.0M 55.6%	$-63.0M
Investing Activities Business Acquisitions	$794.0M 8922.2%	$-9.0M	—	$0 100.0%	$-125.0M
Investing Activities Purchases of Investments	$-244.0M 56.2%	$-557.0M	—	$-25.0M 7.4%	$-27.0M
Investing Activities Proceeds From Sale of Investments	$400.0M -39.2%	$658.0M	—	$42.0M	$0
Investing Activities Other Investing Activities	$-794.0M -249.8%	$-227.0M	—	$-49.0M -113.0%	$-23.0M
Investing Activities net Cash From Investing Activities	$141.0M 195.3%	$-148.0M	—	$-60.0M 74.8%	$-238.0M
Financing Activities Proceeds From Debt	$5.2B 3289.6%	$154.0M	—	$21.0M -99.6%	$5.5B
Financing Activities Repayment of Debt	$-4.8B -21500.0%	$-22.0M	—	$-21.0M 98.9%	$-2.0B
Financing Activities Repurchase of Common Stock	$-653.0M -154.1%	$-257.0M	—	$0	$0
Financing Activities Proceeds From Stock Issuance	$38.0M 11.8%	$34.0M	—	$22.0M -98.9%	$2.1B
Financing Activities Tax Withholding On Stock Based Compensation	$-437.0M -79.1%	$-244.0M	—	$-12.0M 97.2%	$-422.0M
Financing Activities Other Financing Activities	$-6.0M 40.0%	$-10.0M	—	$-10.0M	$0
Financing Activities net Cash From Financing Activities	$-590.0M -71.0%	$-345.0M	—	$0 -100.0%	$5.2B
Cash Reconciliation Effect of Exchange Rate On Cash	$9.0M 1000.0%	$-1.0M	—	$-1.0M	$0
Cash Reconciliation net Change In Cash	$1.2B 284.0%	$-651.0M	—	$-913.0M -122.4%	$4.1B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	—	—	—	—	—
Net margin	+42.1%	+47.8%	-29.0%	-75.7%	-203.1%
FCF margin	+36.3%	-5.8%	+63.2%	-64.8%	-52.2%
Growth
Revenue CAGR (3y)	+48.8%	+17.6%	+24.9%	+69.8%	—
Returns
ROE	+20.6%	+17.7%	—	-14.8%	-50.6%
ROA	+4.9%	+5.4%	—	-4.4%	-18.7%
ROIC	—	—	—	—	—
Liquidity
Current ratio	1.26x	1.39x	—	1.41x	1.56x
Quick ratio	—	—	—	—	—
Leverage
D/E	3.17x	2.28x	—	2.35x	1.71x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.12x	0.11x	—	0.06x	0.09x
Cash conversion cycle	—	—	—	—	—

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Robinhood Markets, Inc.

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