The company has achieved a robust financial position by eliminating all long-term debt, moving from $3.5 billion in 2023Q4 to a zero-debt status by 2026Q1.
| Total Current Assets | 43.41B | 28.87B | 25.1B | 17.08B | 22.92B | 19.28B | 10.87B | 3.88B |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 20.29B | 0 | 5.82B | 4.99B | 11.68B | 4.38B | 4.96B | 2.55B |
| Total Non-Current Assets | 2.06B | 9.27B | 1.08B | 542M | 420M | 486M | 115.89M | 68.29M |
| Property, Plant & Equipment | 162M | 154M | 139M | 120M | 146M | 146M | 45.83M | 25.3M |
| Fixed Asset Turnover | 30.00x | 29.05x | 21.23x | 15.54x | 9.30x | 12.43x | 20.90x | 10.97x |
| Goodwill | 401M | 385M | 179M | 175M | 100M | 101M | 0 | 0 |
| Intangible Assets | 203M | 168M | 38M | 48M | 25M | 34M | 185K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 73M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - |
| Total Assets | 45.47B | 38.14B | 26.19B | 17.62B | 23.34B | 19.77B | 10.99B | 3.94B |
| Asset Turnover | 0.12x | 0.12x | 0.11x | 0.11x | 0.06x | 0.09x | 0.09x | 0.07x |
| Asset Growth % | 92.18% | 45.63% | 48.59% | -24.48% | 18.05% | 79.91% | 178.58% | - |
| Total Current Liabilities | 35.55B | 28.77B | 18.1B | 10.84B | 16.25B | 12.35B | 8.82B | 3.1B |
| Accounts Payable | 0 | 463M | 397M | 384M | 185M | 252M | 104.65M | 37.59M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 15.41B | 7.46B | 3.55B | 1.83B | 3.65B | 1.92B | 674.03M |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - |
| Other Current Liabilities | 35.55B | 914M | 2.8B | 1.81B | 9.53B | 1.97B | 893.04M | 24.61M |
| Current Ratio | 1.22x | 1.00x | 1.39x | 1.58x | 1.41x | 1.56x | 1.23x | 1.25x |
| Quick Ratio | 1.22x | 1.00x | 1.39x | 1.58x | 1.41x | 1.56x | 1.23x | 1.25x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 232M | 215M | 111M | 91M | 128M | 129M | 2.23B | 940.07M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - |
| Total Liabilities | 35.79B | 28.99B | 18.21B | 10.93B | 16.38B | 12.48B | 11.04B | 4.04B |
| Total Debt | 0 | 15.41B | 7.46B | 3.55B | 1.83B | 3.65B | 1.92B | 674.03M |
| Net Debt | -5.01B | 11.15B | 3.13B | -1.29B | -4.5B | -2.6B | 518.49M | 29.98M |
| Debt / Equity | 0.00x | 1.68x | 0.94x | 0.53x | 0.26x | 0.50x | - | - |
| Debt / EBITDA | 0.00x | 7.07x | 6.60x | - | - | - | 83.53x | - |
| Net Debt / EBITDA | -2.25x | 5.11x | 2.77x | - | - | - | 22.54x | - |
| Interest Coverage | 97.05x | - | 43.92x | -23.30x | -40.25x | -81.17x | - | - |
| Total Equity | 9.69B | 9.15B | 7.97B | 6.7B | 6.96B | 7.29B | -55.32M | -97.05M |
| Equity Growth % | 68.94% | 14.79% | 19.06% | -3.74% | -4.62% | 13282.82% | 43% | - |
| Book Value per Share | 10.59 | 9.96 | 8.80 | 7.52 | 7.92 | 8.44 | -0.07 | -0.11 |
| Total Shareholders' Equity | 9.32B | 9.15B | 7.97B | 6.7B | 6.96B | 7.29B | -55.32M | -97.05M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 1K |
| Retained Earnings | -1.8B | -2.15B | -4.04B | -5.45B | -4.91B | -3.88B | -190.1M | -196.68M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2M | 8M | -1M | -3M | 0 | 1M | 473K | 189K |
| Minority Interest | 369M | 11M | 0 | 0 | 0 | 0 | 0 | 0 |
Regulatory PFOF Model Dependency
As reported in recent financial filings, Robinhood's total assets have surged from $17.6 billion in 2023Q4 to $45.5 billion by 2026Q1, signaling a rapid expansion of the firm's balance sheet that appears to be driven by increased retail engagement and successful platform-wide asset accumulation.
The significant growth in total assets suggests that the company is successfully capturing a larger share of retail wallet, though investors should monitor whether this expansion is sustainable or merely a byproduct of cyclical market volatility. The trajectory indicates a firm that is rapidly scaling its infrastructure to support a broader suite of financial products.
Based on the provided quarterly data, Robinhood's debt profile has shifted from $3.5 billion in 2023Q4 to a zero-debt position by 2026Q1, indicating a strategic move to deleverage the balance sheet as the firm's internal cash generation capabilities have matured significantly over the observed period.
The elimination of debt suggests a management preference for financial flexibility, which may be a prudent response to the inherent volatility of the brokerage business model. This shift warrants further investigation into whether the firm intends to maintain this debt-free status or if it is merely a temporary pause in capital structure optimization.
According to recent balance sheet disclosures, the company maintains a current ratio of 1.22 as of 2026Q1, with cash reserves of $5.0 billion, providing a necessary buffer against the episodic liquidity demands typical of a high-volume, self-clearing retail brokerage platform.
While the current ratio appears adequate, the absolute level of cash has fluctuated significantly, reflecting the firm's sensitivity to clearing and settlement obligations. Investors should interpret these liquidity levels as a defensive necessity rather than excess capital, given the potential for sudden regulatory or market-driven cash outflows.
As indicated in the company's financial statements, equity has grown to $9.3 billion by 2026Q1, though this figure is weighed down by a persistent accumulated deficit of $1.8 billion, which highlights the historical cost of scaling the platform's user base and infrastructure.
The persistence of a negative retained earnings balance suggests that the company's path to profitability has been capital-intensive, requiring significant equity investment to reach current scale. Future equity quality will likely depend on the firm's ability to transition from growth-at-all-costs to sustained, bottom-line earnings accretion.
Based on the provided figures, the company's reliance on clearing-related assets and the potential for goodwill impairment, currently at $401 million, suggests that headline asset values may be sensitive to shifts in market sentiment and the long-term viability of the current transaction-based revenue model.
The relatively small PPE footprint compared to total assets underscores the firm's asset-light, technology-driven model, but this also implies that the balance sheet is heavily reliant on intangible value and regulatory standing. Any disruption to the clearing infrastructure could render these assets less productive than current valuations imply.
Quick answers to the most common questions about buying HOOD stock.
As of 2025, Robinhood Markets, Inc. (HOOD) had total assets of $38.14B including $28.87B in current assets.
Robinhood Markets, Inc. (HOOD) carries total debt of $15.41B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Robinhood Markets, Inc. (HOOD) has total shareholders' equity (book value) of $9.15B ($9.96 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Robinhood Markets, Inc. (HOOD) reported a current ratio of 1.00x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.