Robinhood Markets Inc - Ordinary Shares - Class A
HOOD - Insider Information
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+ FollowMarket Cap$69.92B
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Earnings Call Q3 2026
October 27, 2026 - AI Summary
Strong Q3 performance; profitability scaling
- Revenue: +$12% YoY to a record $1.4B
- Adjusted EBITDA: +$9% YoY to a record ~$808M, ~57% margin
- EPS: reported $0.51 (includes - $0.07 mark-to-market on investments); adjusted EPS $0.60 framed as core operating profitability (excludes investment mark/gains/losses).
- Platform scale: ~$400B platform assets; net deposits $16B in the quarter.
Q4 outlook: momentum continues; expense guidance tightened
- Q4 early deposits: October net deposits >$13B (includes ~$6B Dell family gift to Trump accounts), and YTD net deposits >$68B, already ahead of the 20% full-year net deposit growth target with 2 months left.
- Trading volumes: average daily volumes for equities/options/crypto ~5% lighter vs the very strong Q3 (normalizing but still healthy).
- Event contracts: ADVs ~+10% at quarter start.
- Expense outlook change: management will lower the top end of full-year adjusted OpEx & SBC outlook by $25M; now $2.675B–$2.75B (midpoint $13M lower).
- Implication: record profitability + tighter cost range suggests continued operating discipline even while investing.
Growth drivers across the “three arcs” (what’s working)
- Active trading platform: multiple product ships after HOOD Summit (e.g., Agentic Trading in-app, perpetual futures with 15-minute settlement, 24/7 equity trading coming later this year).
- Agentic adoption: customers show ~250M+ Agentic accounts (accounts start at zero; funding required), with accelerating usage/trading curves.
- Perpetuals traction: first mover (U.S. broker), powered by Bitstamp; also early plans for earnings contracts in prediction markets hub.
- Wallet share / Gold: Robinhood Gold hit 5M subscribers, +30% YoY, and ~4x growth since the revamped Gold program began ~4 years ago (overall Gold adoption ~18% of customer base; ~40% among new joiners in the quarter).
- Prediction markets: Rothera (vertically integrated) reached $100M+ annualized revenue in its first full quarter, described as an early but investing phase.
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$-14.46
118.6% downside
Current Fair Value
118.6% downsideOvervalued by 118.6% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $69.92 Billion |
|---|---|
| Enterprise Value | $66.75 Billion |
| Earnings per Share | $2.12 |
| Beta | 2.53 |
| Outstanding Shares | 898,000,000 |
Return
| Return on Equity | 19.84% |
|---|---|
| Return on Assets | 3.40% |
| Return on Invested Capital | 10.97% |
Valuation & Multiples
| P/E Ratio | 35.39 |
|---|---|
| PEG | -223.61 |
| Price to Sales | 19.47 |
| Price to Book Ratio | 7.08 |
| Enterprise Value to Revenue | 15.49 |
| Enterprise Value to EBIT | 46.71 |
| Enterprise Value to Net Income | 33 |
| Total Debt to Enterprise | 0.04 |
| Debt to Equity | 0.27 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS Estimate
$0.52
Consensus analyst estimateRevenue Estimate
$1.40 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 9, 2027
EPS Estimate
$0.60
Consensus analyst estimateRevenue Estimate
$1.52 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.16, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.1601▲ 37.15% |
|---|---|
| Total Calls | 1,093,600▼ 98.35% |
| Total Puts | 1,268,700▼ 97.57% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 9.11%▼ 59.73% |
|---|---|
| Total Invested | $9.20B▼ 85.18% |
| Investors Holding | 791▼ 752.00% |
About Robinhood Markets Inc
2,900 employees
CEO: Vladimir Tenev
Robinhood Markets, Inc. is an American financial services company that provides an electronic trading platform for stocks, ETFs, options, and cryptocurrencies. [15, 18, 30] Its platform allows users to invest in stocks, exchange-traded f...