Last 20 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Robinhood Markets, Inc.'s quarterly P/E stands at 42.8x, up 364.1% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 132.1% YoY to 37.0x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 48.62 | 42.84 | 58.68 | 55.73 | 28.12 | 9.23 | 35.36 | 27.32 | 28.05 | 93.68 | — | 92.07 | — |
| — | +364.1% | +66.0% | +104.0% | +0.2% | -90.1% | — | -70.3% | — | — | — | — | — | |
| P/S Ratio | 22.73 | 20.22 | 25.79 | 21.52 | 10.21 | 8.34 | 8.32 | 7.53 | 7.13 | 5.97 | 4.70 | 4.73 | 4.94 |
| — | +142.5% | +209.9% | +185.8% | +43.2% | +39.6% | +77.1% | +59.2% | +44.4% | +25.4% | -23.8% | -16.3% | -49.6% | |
| P/B Ratio | 8.62 | 11.33 | 15.34 | 10.55 | 4.76 | 4.24 | 2.94 | 2.88 | 2.56 | 1.68 | 1.34 | 1.28 | 1.24 |
| — | +167.0% | +421.4% | +265.6% | +85.9% | +152.5% | +120.3% | +125.4% | +107.0% | +61.5% | +4.2% | +24.8% | -24.8% | |
| P/FCF | — | — | — | 6.10 | 14.99 | — | 2.96 | 109.26 | — | 2.95 | — | 6.28 | 2.65 |
| — | — | — | -94.4% | — | — | — | +1639.8% | — | -72.1% | — | — | -62.5% | |
| EV / EBITDA | 61.98 | 36.97 | 54.32 | 50.87 | 27.12 | 15.93 | 34.95 | 25.49 | 24.18 | 53.00 | — | 45.34 | — |
| — | +132.1% | +55.5% | +99.5% | +12.2% | -69.9% | — | -43.8% | — | — | — | — | — | |
| EV / EBIT | 66.50 | 37.64 | 56.21 | 53.30 | 28.58 | 16.56 | 39.57 | 27.92 | 26.75 | 83.04 | — | 79.34 | — |
| — | +127.4% | +42.0% | +90.9% | +6.8% | -80.1% | — | -64.8% | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Robinhood Markets, Inc.'s operating margin was 50.7% in Q4 2025, up 0.8 pp QoQ and down 4.4 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 46.3% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 11.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.9% | 75.7% | 77.0% | 92.2% | 85.5% | 85.8% | 81.0% | 82.0% | 81.2% | 78.1% | 80.7% | 74.9% | 74.1% |
| — | -11.8% | -4.9% | +12.5% | +5.3% | +9.8% | +0.3% | +9.4% | +9.5% | +32.0% | +30.1% | +35.3% | +44.9% | |
| Operating Margin | 35.8% | 50.7% | 49.8% | 44.4% | 40.1% | 55.0% | 23.7% | 27.7% | 25.9% | 6.4% | -15.6% | 4.1% | -113.6% |
| — | -7.9% | +110.3% | +60.2% | +55.0% | +764.0% | +251.6% | +573.4% | +122.8% | +113.4% | +55.6% | +104.5% | +10.4% | |
| Net Margin | 47.8% | 47.2% | 43.6% | 39.0% | 36.2% | 90.3% | 23.5% | 27.6% | 25.4% | 6.4% | -18.2% | 5.1% | -115.9% |
| — | -47.8% | +85.3% | +41.6% | +42.7% | +1318.3% | +229.4% | +435.9% | +121.9% | +114.6% | +62.5% | +105.5% | +11.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.2% | 6.8% | 6.7% | 4.8% | 4.2% | 12.1% | 2.1% | 2.7% | 2.3% | 0.5% | -1.2% | 0.4% | -7.3% |
| — | -43.4% | +219.2% | +79.5% | +82.5% | +2569.4% | +269.5% | +664.1% | +131.7% | +118.9% | +50.7% | +108.4% | -34.3% | |
| ROA | 6.4% | 1.5% | 1.4% | 1.2% | 1.3% | 2.6% | 0.4% | 0.4% | 0.5% | 0.1% | -0.3% | 0.1% | -2.0% |
| — | -42.4% | +308.5% | +185.7% | +153.9% | +1833.0% | +214.7% | +385.3% | +124.7% | +119.7% | +56.6% | +106.5% | +1.5% | |
| ROIC | 6.2% | 2.9% | 2.1% | 1.7% | 1.7% | 2.8% | 0.8% | 1.2% | 1.1% | 0.2% | -0.5% | 0.2% | -4.1% |
| — | +4.5% | +150.1% | +43.4% | +52.8% | +1146.0% | +254.7% | +703.8% | +127.6% | +114.4% | +50.9% | +106.2% | -46.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 9.0% YoY to 1.26x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.94 | — | 1.83 | 1.57 | 1.14 | 0.94 | 1.01 | 0.71 | 0.61 | 0.53 | 0.49 | 0.41 | 0.37 |
| — | — | +80.4% | +119.1% | +86.9% | +76.7% | +105.3% | +72.3% | +65.3% | +100.9% | +116.8% | +91.4% | +13.1% | |
| Debt / EBITDA | 6.59 | — | 23.84 | 27.48 | 23.21 | 12.87 | 42.73 | 24.59 | 23.81 | 75.47 | — | 85.20 | — |
| — | — | -44.2% | +11.7% | -2.5% | -83.0% | — | -71.1% | — | — | — | — | — | |
| Current Ratio | 1.39 | 1.26 | 1.22 | 1.25 | 1.35 | 1.39 | 1.18 | 1.19 | 1.16 | 1.58 | 1.31 | 1.32 | 1.32 |
| — | -9.0% | +3.0% | +4.6% | +15.9% | -12.0% | -9.6% | -9.4% | -11.7% | +11.8% | -5.0% | -4.8% | -16.8% | |
| Quick Ratio | 1.39 | 1.26 | 1.22 | 1.25 | 1.35 | 1.39 | 1.18 | 1.19 | 1.16 | 1.58 | 1.31 | 1.32 | 1.32 |
| — | -9.0% | +3.0% | +4.6% | +15.9% | -12.0% | -9.6% | -9.4% | -11.7% | +11.8% | -5.0% | -4.8% | -16.8% | |
| Interest Coverage | 44.00 | — | 79.38 | 54.88 | 62.00 | — | 25.17 | 31.50 | 26.67 | 5.00 | -12.17 | 4.00 | -83.50 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 20 years · Updated daily
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Start ComparisonRobinhood Markets, Inc.'s current P/E is 48.6x. The average P/E over the last 4 quarters is 46.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Robinhood Markets, Inc.'s current operating margin is 35.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Robinhood Markets, Inc.'s business trajectory between earnings reports.