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微牛（BULL）与罗宾汉（HOOD）财务数据对比。点击上方公司名可切换其他公司
罗宾汉的季度营收约是微牛的9.8倍（$1.3B vs $131.5M）。罗宾汉净利率更高（47.2% vs -21.5%，领先68.7%）。微牛同比增速更快（46.3% vs 26.5%）
微牛（Webull）是总部位于美国佛罗里达州圣彼得堡的金融服务控股企业，核心运营与品牌同名的电子交易平台，面向用户提供便捷的线上证券等金融产品交易服务，是海外知名的互联网券商服务提供商。
罗宾汉市场（Robinhood Markets, Inc.）是总部位于美国加利福尼亚州门洛帕克的金融服务企业，旗下电子交易平台支持股票、ETF、期权、期货、加密货币等品类交易，还提供加密货币钱包、财富管理、信用卡等金融服务，部分银行服务与FDIC投保银行合作推出，同时运营新闻网站Sherwood.News。
BULL vs HOOD — 直观对比
营收规模更大
HOOD
是对方的9.8倍
$131.5M
营收增速更快
BULL
高出19.7%
26.5%
净利率更高
HOOD
高出68.7%
-21.5%
损益表 — Q2 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $131.5M | $1.3B |
| 净利润 | $-28.3M | $605.0M |
| 毛利率 | — | — |
| 营业利润率 | -16.3% | 51.5% |
| 净利率 | -21.5% | 47.2% |
| 营收同比 | 46.3% | 26.5% |
| 净利润同比 | -144.3% | -34.0% |
| 每股收益（稀释后） | — | $0.65 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BULLHOOD
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $131.5M | $989.0M | ||
| Q1 25 | — | $927.0M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $637.0M | ||
| Q2 24 | $89.9M | $682.0M | ||
| Q1 24 | — | $618.0M |
净利润BULLHOOD
| Q4 25 | — | $605.0M | ||
| Q3 25 | — | $556.0M | ||
| Q2 25 | $-28.3M | $386.0M | ||
| Q1 25 | — | $336.0M | ||
| Q4 24 | — | $916.0M | ||
| Q3 24 | — | $150.0M | ||
| Q2 24 | $-11.6M | $188.0M | ||
| Q1 24 | — | $157.0M |
营业利润率BULLHOOD
| Q4 25 | — | 51.5% | ||
| Q3 25 | — | 49.8% | ||
| Q2 25 | -16.3% | 44.7% | ||
| Q1 25 | — | 40.0% | ||
| Q4 24 | — | 55.0% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | -11.4% | 28.0% | ||
| Q1 24 | — | 26.2% |
净利率BULLHOOD
| Q4 25 | — | 47.2% | ||
| Q3 25 | — | 43.6% | ||
| Q2 25 | -21.5% | 39.0% | ||
| Q1 25 | — | 36.2% | ||
| Q4 24 | — | 90.3% | ||
| Q3 24 | — | 23.5% | ||
| Q2 24 | -12.9% | 27.6% | ||
| Q1 24 | — | 25.4% |
每股收益（稀释后）BULLHOOD
| Q4 25 | — | $0.65 | ||
| Q3 25 | — | $0.61 | ||
| Q2 25 | — | $0.42 | ||
| Q1 25 | — | $0.37 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | — | $0.17 | ||
| Q2 24 | — | $0.21 | ||
| Q1 24 | — | $0.18 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $476.7M | $4.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $751.6M | $9.2B |
| 总资产 | $2.6B | $38.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BULLHOOD
| Q4 25 | — | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | $476.7M | $4.2B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.7B |
股东权益BULLHOOD
| Q4 25 | — | $9.2B | ||
| Q3 25 | — | $8.6B | ||
| Q2 25 | $751.6M | $8.1B | ||
| Q1 25 | — | $8.0B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | $7.2B | ||
| Q2 24 | $-2.9B | $7.1B | ||
| Q1 24 | — | $6.9B |
总资产BULLHOOD
| Q4 25 | — | $38.1B | ||
| Q3 25 | — | $41.5B | ||
| Q2 25 | $2.6B | $35.3B | ||
| Q1 25 | — | $27.5B | ||
| Q4 24 | — | $26.2B | ||
| Q3 24 | — | $43.2B | ||
| Q2 24 | — | $41.3B | ||
| Q1 24 | — | $46.1B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $272.1M | $-937.0M |
| 自由现金流经营现金流 - 资本支出 | $271.7M | — |
| 自由现金流率自由现金流/营收 | 206.6% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | — | -1.55× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BULLHOOD
| Q4 25 | — | $-937.0M | ||
| Q3 25 | — | $-1.6B | ||
| Q2 25 | $272.1M | $3.5B | ||
| Q1 25 | — | $642.0M | ||
| Q4 24 | — | $-1.4B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $54.0M | ||
| Q1 24 | — | $-623.0M |
自由现金流BULLHOOD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $271.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率BULLHOOD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 206.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度BULLHOOD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率BULLHOOD
| Q4 25 | — | -1.55× | ||
| Q3 25 | — | -2.83× | ||
| Q2 25 | — | 9.09× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | -1.53× | ||
| Q3 24 | — | 12.08× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | -3.97× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BULL
暂无分部数据
HOOD
| Other | $365.0M | 28% |
| Options | $314.0M | 24% |
| Cryptocurrencies | $221.0M | 17% |
| Other Transaction Based Revenues | $147.0M | 11% |
| Financial Service Other | $96.0M | 7% |
| Equities | $94.0M | 7% |
| Other Revenue | $35.0M | 3% |
| Proxy Revenues | $11.0M | 1% |
