HOODRobinhood Markets

Financials · Brokers & Investment Banks · Nasdaq

Robinhood was founded in 2013 on the belief that everyone should be welcome to participate in our financial system. 10-K, Item 1

Employees: 2,900
Headquarters: Menlo Park, CA
CEO: Vladimir Tenev
Next results: around Jan 29, 2027

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HOOD and 9 peers, year by year

The 9 Financials companies closest to HOOD in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
HOOD Robinhood Markets	FY2025	$4.5B	+51.6%	-	-	42.1%	-	20.6%	0.00
CPAY Corpay	FY2025	$4.5B	+13.9%	-	44.0%	23.6%	28.7%	27.5%	2.58
CBOE Cboe Global Markets	FY2025	$4.7B	+15.1%	51.5%	31.1%	23.3%	35.7%	21.4%	0.28
COIN Coinbase	FY2025	$7.2B	+9.4%	-	20.0%	17.6%	-	8.5%	0.52
ARES Ares Management	FY2025	$5.6B	+44.2%	-	-	9.4%	-	12.3%	-
ERIE Erie Indemnity	FY2025	$4.1B	+7.2%	-	17.6%	13.8%	14.0%	24.5%	-
GL Globe Life	FY2025	$6.0B	+3.7%	-	-	19.4%	20.9%	19.4%	0.44
MSCI MSCI	FY2025	$3.1B	+9.7%	-	54.7%	38.4%	49.4%	n/m	n/m
BRO Brown & Brown	FY2025	$5.9B	+22.8%	-	-	17.9%	23.4%	8.4%	0.61
CME CME Group	FY2025	$6.5B	+6.4%	-	64.9%	62.5%	64.3%	14.2%	0.00

Revenuepeer median $5.6B

Sales growthpeer median +9.7%

Operating marginpeer median 37.6%

CME 64.9%
MSCI 54.7%
CPAY 44.0%
CBOE 31.1%
COIN 20.0%
ERIE 17.6%
HOOD -
ARES -
GL -
BRO -

Net marginpeer median 19.4%

FCF marginpeer median 28.7%

Return on equitypeer median 16.8%

Debt / equitypeer median 0.48

CPAY 2.58
BRO 0.61
COIN 0.52
GL 0.44
CBOE 0.28
HOOD 0.00
CME 0.00
ARES -
ERIE -
MSCI n/m

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2019 to FY2025

Revenue as reported in the 10-K.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	$277.5M	$958.0M	$1.8B	$1.4B	$1.9B	$3.0B	$4.5B
CPAY Dec	$2.6B	$2.4B	$2.8B	$3.4B	$3.8B	$4.0B	$4.5B
CBOE Dec	$2.5B	$3.4B	$3.5B	$4.0B	$3.8B	$4.1B	$4.7B
COIN Dec	$533.7M	$1.3B	$7.8B	$3.2B	$3.1B	$6.6B	$7.2B
ARES Dec	$1.8B	$1.8B	$4.2B	$3.1B	$3.6B	$3.9B	$5.6B
ERIE Dec	$2.5B	$2.5B	$2.6B	$2.8B	$3.3B	$3.8B	$4.1B
GL Dec	$4.5B	$4.7B	$5.1B	$5.2B	$5.4B	$5.8B	$6.0B
MSCI Dec	$1.6B	$1.7B	$2.0B	$2.2B	$2.5B	$2.9B	$3.1B
BRO Dec	$2.4B	$2.6B	$3.1B	$3.6B	$4.3B	$4.8B	$5.9B
CME Dec	$4.9B	$4.9B	$4.7B	$5.0B	$5.6B	$6.1B	$6.5B
Peer median	$2.5B	$2.5B	$3.5B	$3.4B	$3.8B	$4.1B	$5.6B

Sales growth, FY2019 to FY2025

Revenue against the fiscal year before.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	-	+245%	+89.5%	−25.2%	+37.3%	+58.2%	+51.6%
CPAY Dec	+8.8%	−9.8%	+18.6%	+20.9%	+9.6%	+5.8%	+13.9%
CBOE Dec	−9.8%	+37.3%	+2.0%	+13.3%	−4.7%	+8.5%	+15.1%
COIN Dec	-	+139%	+514%	−59.3%	−2.7%	+111%	+9.4%
ARES Dec	+84.2%	−0.1%	+139%	−27.5%	+18.9%	+7.0%	+44.2%
ERIE Dec	+4.0%	+2.4%	+3.8%	+7.8%	+15.1%	+16.1%	+7.2%
GL Dec	+5.2%	+4.6%	+7.9%	+2.2%	+4.2%	+6.1%	+3.7%
MSCI Dec	+8.6%	+8.8%	+20.5%	+10.0%	+12.5%	+12.9%	+9.7%
BRO Dec	+18.8%	+9.2%	+16.8%	+17.1%	+19.1%	+12.9%	+22.8%
CME Dec	+13.0%	+0.3%	−4.0%	+7.0%	+11.1%	+9.9%	+6.4%
Peer median	+8.7%	+4.6%	+16.8%	+7.8%	+11.1%	+9.9%	+9.7%

Gross margin, FY2019 to FY2025

Gross profit / revenue.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	-	-	-	-	-	-	-
CPAY Dec	-	-	-	-	-	-	-
CBOE Dec	45.5%	36.6%	42.2%	44.0%	50.8%	50.6%	51.5%
COIN Dec	-	-	-	-	-	-	-
ARES Dec	-	-	-	-	-	-	-
ERIE Dec	-	-	-	-	-	-	-
GL Dec	20.1%	19.0%	23.8%	22.6%	23.1%	-	-
MSCI Dec	-	-	-	-	-	-	-
BRO Dec	-	-	-	-	-	-	-
CME Dec	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-

Operating margin, FY2019 to FY2025

Operating income / revenue.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	-	-	-	-	-	-	-
CPAY Dec	46.5%	40.7%	43.8%	42.2%	44.1%	45.0%	44.0%
CBOE Dec	21.5%	19.3%	23.1%	12.4%	28.0%	26.8%	31.1%
COIN Dec	−8.6%	32.0%	39.2%	−84.8%	−5.2%	35.1%	20.0%
ARES Dec	-	-	-	-	-	-	-
ERIE Dec	14.4%	13.3%	12.1%	13.2%	15.9%	17.8%	17.6%
GL Dec	20.3%	19.1%	24.0%	22.7%	23.2%	-	-
MSCI Dec	48.5%	52.2%	52.5%	53.7%	54.8%	53.5%	54.7%
BRO Dec	-	-	-	-	-	-	-
CME Dec	53.2%	54.0%	56.4%	60.1%	61.6%	64.1%	64.9%
Peer median	21.5%	32.0%	39.2%	22.7%	28.0%	40.1%	37.6%

Net margin, FY2019 to FY2025

Net income / revenue.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	−38.4%	0.7%	−203.1%	−75.7%	−29.0%	47.8%	42.1%
CPAY Dec	33.8%	29.5%	29.6%	27.8%	26.1%	25.3%	23.6%
CBOE Dec	15.0%	13.7%	15.1%	5.9%	20.2%	18.7%	23.3%
COIN Dec	−5.7%	25.2%	46.2%	−82.2%	3.1%	39.3%	17.6%
ARES Dec	8.4%	8.6%	9.7%	5.5%	13.1%	11.9%	9.4%
ERIE Dec	12.8%	11.6%	11.3%	10.5%	13.6%	15.8%	13.8%
GL Dec	16.8%	15.4%	20.2%	17.1%	17.8%	18.5%	19.4%
MSCI Dec	36.2%	35.5%	35.5%	38.7%	45.4%	38.8%	38.4%
BRO Dec	16.7%	18.4%	19.2%	18.8%	20.5%	20.7%	17.9%
CME Dec	43.5%	43.1%	56.2%	53.6%	57.8%	57.5%	62.5%
Peer median	16.7%	18.4%	20.2%	17.1%	20.2%	20.7%	19.4%

Free cash flow, FY2019 to FY2025

Cash from operations minus capital spending.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	$1.3B	$1.9B	−$948.0M	−$880.0M	-	-	-
CPAY Dec	$1.1B	$1.4B	$1.1B	$603.4M	$1.9B	$1.8B	$1.3B
CBOE Dec	$597.7M	$1.4B	$545.8M	$591.3M	$1.0B	$1.0B	$1.7B
COIN Dec	−$114.1M	$283.6M	$4.0B	−$1.6B	-	-	-
ARES Dec	-	-	-	-	-	-	-
ERIE Dec	$262.5M	$287.1M	$254.0M	$298.9M	$288.6M	$486.4M	$571.0M
GL Dec	$1.3B	$1.4B	$1.4B	$1.4B	$1.4B	$1.3B	$1.3B
MSCI Dec	$680.4M	$789.3M	$922.6M	$1.1B	$1.2B	$1.5B	$1.5B
BRO Dec	$605.1M	$642.3M	$763.8M	$829.0M	$941.0M	$1.1B	$1.4B
CME Dec	$2.4B	$2.5B	$2.3B	$3.0B	$3.4B	$3.6B	$4.2B
Peer median	$642.7M	$1.1B	$1.0B	$716.2M	$1.2B	$1.3B	$1.4B

FCF margin, FY2019 to FY2025

Free cash flow / revenue.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	451.4%	193.3%	−52.2%	−64.8%	-	-	-
CPAY Dec	41.0%	58.4%	38.3%	17.6%	51.8%	44.4%	28.7%
CBOE Dec	23.9%	41.2%	15.6%	14.9%	27.3%	25.4%	35.7%
COIN Dec	−21.4%	22.2%	51.5%	−49.7%	-	-	-
ARES Dec	-	-	-	-	-	-	-
ERIE Dec	10.6%	11.3%	9.6%	10.5%	8.8%	12.8%	14.0%
GL Dec	29.2%	30.3%	27.4%	26.7%	26.3%	23.0%	20.9%
MSCI Dec	43.7%	46.6%	45.1%	48.1%	48.0%	51.4%	49.4%
BRO Dec	25.3%	24.6%	25.0%	23.2%	22.1%	22.7%	23.4%
CME Dec	49.9%	51.6%	48.5%	59.1%	60.5%	58.7%	64.3%
Peer median	27.2%	35.7%	32.8%	20.4%	27.3%	25.4%	28.7%

Return on equity, FY2019 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	n/m	n/m	−50.6%	−14.8%	−8.1%	17.7%	20.6%
CPAY Dec	24.1%	21.0%	29.3%	37.5%	29.9%	32.1%	27.5%
CBOE Dec	11.2%	14.0%	14.7%	6.8%	19.1%	17.9%	21.4%
COIN Dec	−6.1%	33.4%	56.8%	−48.1%	1.5%	25.1%	8.5%
ARES Dec	19.4%	12.7%	22.4%	10.5%	25.1%	13.1%	12.3%
ERIE Dec	28.0%	24.7%	22.2%	20.6%	26.8%	30.2%	24.5%
GL Dec	10.4%	8.3%	51.5%	22.6%	21.6%	20.2%	19.4%
MSCI Dec	n/m	n/m	n/m	n/m	n/m	n/m	n/m
BRO Dec	11.9%	12.8%	14.0%	14.6%	15.6%	15.4%	8.4%
CME Dec	8.1%	8.0%	9.6%	10.0%	12.1%	13.3%	14.2%
Peer median	11.5%	13.4%	22.3%	12.6%	20.4%	19.0%	16.8%

Debt / equity, FY2019 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	-	-	-	-	-	-	0.00
CPAY Dec	1.36	1.28	2.09	2.77	2.05	2.56	2.58
CBOE Dec	0.26	0.36	0.36	0.50	0.36	0.34	0.28
COIN Dec	-	0.00	0.53	0.63	0.47	0.45	0.52
ARES Dec	-	-	-	-	-	-	-
ERIE Dec	0.09	0.08	0.07	0.00	-	-	-
GL Dec	0.23	0.22	1.09	0.57	0.47	0.52	0.44
MSCI Dec	n/m	n/m	n/m	n/m	n/m	n/m	n/m
BRO Dec	0.46	0.56	0.48	0.86	0.68	0.59	0.61
CME Dec	0.00	0.00	0.03	0.00	0.00	0.03	0.00
Peer median	0.24	0.22	0.48	0.57	0.47	0.48	0.48

EPS (diluted), FY2019 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HOOD Dec	−$0.48	$0.01	−$7.49	−$1.17	−$0.61	$1.56	$2.05
CPAY Dec	$9.94	$8.12	$9.99	$12.42	$13.20	$13.97	$15.03
CBOE Dec	$3.34	$4.27	$4.92	$2.19	$7.13	$7.21	$10.42
COIN Dec	−$0.50	$1.40	$14.50	−$11.83	$0.37	$9.48	$4.45
ARES Dec	-	-	-	-	-	-	-
ERIE Dec	-	-	-	-	-	-	-
GL Dec	$6.83	$6.82	$9.99	$9.04	$10.07	$11.94	$14.07
MSCI Dec	$6.59	$7.12	$8.70	$10.72	$14.39	$14.05	$15.69
BRO Dec	$1.40	$1.69	$2.07	$2.37	$3.05	$3.46	$3.16
CME Dec	$5.91	$5.87	$7.29	$7.40	$8.86	$9.67	$11.16
Peer median	$5.91	$5.87	$8.70	$7.40	$8.86	$9.67	$11.16

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out HOOD and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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