Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Robinhood Markets, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
278
958
1,815
1,358
1,865
2,951
4,473
Research and development
27.7
52
438
381
349
323
355
General and administrative
85.5
295
1,371
924
1,169
455
628
Operating expenses
384
945
3,456
2,369
2,401
1,897
2,379
Interest income
9.87
1
3
22
Other non-operating income
-0.66
0
1
-16
3
10
14
Pre-tax income
-108
13
-3,685
-1,027
-533
1,064
2,108
Income tax
-1.02
6
2
1
8
-347
225
Net income
-107
7
-3,687
-1,028
-541
1,411
1,883
EPS, basic
-0.48
0.01
-7.49
-1.17
-0.61
1.60
2.12
EPS, diluted
-0.48
0.01
-7.49
-1.17
-0.61
1.56
2.05
Shares, basic (weighted)
222
226
492
879
891
881
889
Shares, diluted (weighted)
222
245
492
879
891
906
919
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
644
1,403
6,253
6,339
4,835
4,332
4,261
Other current assets
48.7
57
72
196
584
798
Total current assets
10,873
19,283
22,917
17,082
25,103
36,305
Property, plant and equipment
45.8
146
146
120
139
154
Lease right-of-use assets
49.2
129
92
68
94
182
Goodwill
0
101
100
175
179
385
Intangible assets
0.19
34
25
48
38
168
Other non-current assets
62.5
161
132
107
533
697
Total assets
10,988
19,769
23,337
17,624
26,187
38,137
Accounts payable
105
252
185
384
397
463
Deferred revenue
5,897
6,476
4,701
5,097
7,448
11,986
Total current liabilities
8,816
12,347
16,253
10,837
18,104
28,771
Lease liabilities
48
129
127
89
110
199
Other non-current liabilities
48
129
128
91
111
215
Total liabilities
8,864
12,476
16,381
10,928
18,215
28,986
Paid-in capital
134
11,169
11,861
12,145
12,008
11,284
Retained earnings
-190
-3,877
-4,905
-5,446
-4,035
-2,152
Other comprehensive income
0.47
1
0
-3
-1
8
Shareholders' equity
-97
-55
7,293
6,956
6,696
7,972
Minority interests
0
11
Total equity
-97
-55
7,293
6,956
6,696
7,972
9,151
Total liabilities and equity
10,988
19,769
23,337
17,624
26,187
38,137
Shares outstanding
229
0
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-107
7
-3,687
-1,028
-541
1,411
1,883
Depreciation and amortization
5.44
10
26
61
71
77
86
Stock-based compensation
26.7
24
1,572
654
871
304
305
Deferred income tax
-0.67
-1
-3
0
0
-369
181
Change in receivables
-64.7
-2,772
-3,362
3,386
-298
-4,592
-9,106
Change in payables
13.9
67
134
-62
134
-35
-18
Cash from operations
1,260
1,876
-885
-852
1,181
-157
1,638
Capital expenditures
-7.26
-24
-63
-28
Acquisitions
0
0
-125
0
-93
-6
-399
Purchases of investments
0
0
-27
-25
0
0
Sales and maturities of investments
0
0
42
Cash from investing
-12.3
-32
-238
-60
-582
-148
141
Stock issued
2.62
9
14
6
5
18
16
Share buybacks
0
0
-608
-257
-653
Cash from financing
375
1,276
5,203
0
-610
-345
-590
Exchange rate effect
0.18
0
0
-1
0
-1
9
Net change in cash
1,623
3,120
4,080
-913
-11
-651
1,198
Free cash flow
1,253
1,852
-948
-880
Interest paid
0.62
3
12
12
12
16
31
Income taxes paid
1.4
6
6
4
9
18
95
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $119.40 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
49.0%
Pre-tax income / revenue.
Net margin
42.0%
Net income / revenue.
Operating cash flow margin
5.0%
Cash from operations / revenue.
Effective tax rate
13.9%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
3.7%
Net income / average total assets.
Stock-based pay / revenue
7.1%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
1.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
51.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
48.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
36.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
33.5%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y
206.2%
Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y
31.4%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y
190.0%
Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y
-2.7%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
45.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
17.8%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
28.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
1.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
1.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
30.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.22x
Current assets / current liabilities.
Quick ratio
0.12x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.12x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
83.1%
Total liabilities / total assets.
Working capital
$9.96B
Current assets - current liabilities.
Goodwill and intangibles / assets
1.3%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.09x
Revenue / average total assets.
Fixed asset turnover
27.9x
Revenue / average property, plant and equipment.
Per share
Metric
Value
How it is calculated
EPS, diluted
$2.27
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Market cap + total debt - cash - short-term investments.
P/E
51.8x
Market cap / net income. Only when net income is positive.
P/S
21.8x
Market cap / revenue.
P/OCF
438x
Market cap / cash from operations, when positive.
EV/Sales
20.7x
Enterprise value / revenue.
Earnings yield
1.9%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.8%
(Dividends paid + share buybacks) / market cap.
What was Robinhood Markets, Inc.'s revenue in fiscal 2025?
Robinhood Markets, Inc. reported revenue of $4.47B for fiscal 2025, 51.6% higher than the year before.
Was Robinhood Markets, Inc. profitable in fiscal 2025?
Yes. Net income was $1.88B, a net margin of 42.1%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.