vs
罗宾汉（HOOD）与万事达卡（MA）财务数据对比。点击上方公司名可切换其他公司
万事达卡的季度营收约是罗宾汉的6.9倍（$8.8B vs $1.3B），罗宾汉净利率更高（47.2% vs 46.1%，领先1.1%），罗宾汉同比增速更快（26.5% vs 17.6%），过去两年罗宾汉的营收复合增速更高（44.1% vs 17.8%）
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。
万事达卡是总部位于美国纽约帕切斯的跨国支付卡服务企业，核心业务为处理商户收单银行与持卡人发卡机构之间的支付交易，同时提供旗下品牌借记卡、信用卡、预付卡及相关配套支付服务，服务网络覆盖全球，于2006年公开上市。
HOOD vs MA — 直观对比
营收规模更大
MA
是对方的6.9倍
$1.3B
营收增速更快
HOOD
高出8.9%
17.6%
净利率更高
HOOD
高出1.1%
46.1%
两年增速更快
HOOD
近两年复合增速
17.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $8.8B |
| 净利润 | $605.0M | $4.1B |
| 毛利率 | — | — |
| 营业利润率 | 51.5% | 55.8% |
| 净利率 | 47.2% | 46.1% |
| 营收同比 | 26.5% | 17.6% |
| 净利润同比 | -34.0% | 21.5% |
| 每股收益（稀释后） | $0.65 | $4.52 |
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HOODMA
| Q4 25 | $1.3B | $8.8B | ||
| Q3 25 | $1.3B | $8.6B | ||
| Q2 25 | $989.0M | $8.1B | ||
| Q1 25 | $927.0M | $7.3B | ||
| Q4 24 | $1.0B | $7.5B | ||
| Q3 24 | $637.0M | $7.4B | ||
| Q2 24 | $682.0M | $7.0B | ||
| Q1 24 | $618.0M | $6.3B |
净利润HOODMA
| Q4 25 | $605.0M | $4.1B | ||
| Q3 25 | $556.0M | $3.9B | ||
| Q2 25 | $386.0M | $3.7B | ||
| Q1 25 | $336.0M | $3.3B | ||
| Q4 24 | $916.0M | $3.3B | ||
| Q3 24 | $150.0M | $3.3B | ||
| Q2 24 | $188.0M | $3.3B | ||
| Q1 24 | $157.0M | $3.0B |
营业利润率HOODMA
| Q4 25 | 51.5% | 55.8% | ||
| Q3 25 | 49.8% | 58.8% | ||
| Q2 25 | 44.7% | 58.7% | ||
| Q1 25 | 40.0% | 57.2% | ||
| Q4 24 | 55.0% | 52.6% | ||
| Q3 24 | 24.0% | 54.3% | ||
| Q2 24 | 28.0% | 58.0% | ||
| Q1 24 | 26.2% | 56.8% |
净利率HOODMA
| Q4 25 | 47.2% | 46.1% | ||
| Q3 25 | 43.6% | 45.7% | ||
| Q2 25 | 39.0% | 45.5% | ||
| Q1 25 | 36.2% | 45.2% | ||
| Q4 24 | 90.3% | 44.6% | ||
| Q3 24 | 23.5% | 44.3% | ||
| Q2 24 | 27.6% | 46.8% | ||
| Q1 24 | 25.4% | 47.4% |
每股收益（稀释后）HOODMA
| Q4 25 | $0.65 | $4.52 | ||
| Q3 25 | $0.61 | $4.34 | ||
| Q2 25 | $0.42 | $4.07 | ||
| Q1 25 | $0.37 | $3.59 | ||
| Q4 24 | $1.00 | $3.64 | ||
| Q3 24 | $0.17 | $3.53 | ||
| Q2 24 | $0.21 | $3.50 | ||
| Q1 24 | $0.18 | $3.22 |
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 | $4.3B | $10.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.2B | $7.7B |
| 总资产 | $38.1B | $54.2B |
| 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HOODMA
| Q4 25 | $4.3B | $10.6B | ||
| Q3 25 | $4.3B | $10.3B | ||
| Q2 25 | $4.2B | $9.0B | ||
| Q1 25 | $4.4B | $7.6B | ||
| Q4 24 | $4.3B | $8.4B | ||
| Q3 24 | $4.6B | $11.1B | ||
| Q2 24 | $4.5B | $7.0B | ||
| Q1 24 | $4.7B | $7.3B |
股东权益HOODMA
| Q4 25 | $9.2B | $7.7B | ||
| Q3 25 | $8.6B | $7.9B | ||
| Q2 25 | $8.1B | $7.9B | ||
| Q1 25 | $8.0B | $6.7B | ||
| Q4 24 | $8.0B | $6.5B | ||
| Q3 24 | $7.2B | $7.4B | ||
| Q2 24 | $7.1B | $7.4B | ||
| Q1 24 | $6.9B | $7.2B |
总资产HOODMA
| Q4 25 | $38.1B | $54.2B | ||
| Q3 25 | $41.5B | $53.3B | ||
| Q2 25 | $35.3B | $51.4B | ||
| Q1 25 | $27.5B | $48.5B | ||
| Q4 24 | $26.2B | $48.1B | ||
| Q3 24 | $43.2B | $47.2B | ||
| Q2 24 | $41.3B | $42.3B | ||
| Q1 24 | $46.1B | $42.6B |
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 | $-937.0M | $5.0B |
| 自由现金流经营现金流 - 资本支出 | — | $4.9B |
| 自由现金流率自由现金流/营收 | — | 55.5% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | -1.55× | 1.23× |
| 过去12个月自由现金流最近4个季度 | — | $17.2B |
8季度趋势，按日历期对齐
经营现金流HOODMA
| Q4 25 | $-937.0M | $5.0B | ||
| Q3 25 | $-1.6B | $5.7B | ||
| Q2 25 | $3.5B | $4.6B | ||
| Q1 25 | $642.0M | $2.4B | ||
| Q4 24 | $-1.4B | $4.8B | ||
| Q3 24 | $1.8B | $5.1B | ||
| Q2 24 | $54.0M | $3.1B | ||
| Q1 24 | $-623.0M | $1.7B |
自由现金流HOODMA
| Q4 25 | — | $4.9B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $1.5B |
自由现金流率HOODMA
| Q4 25 | — | 55.5% | ||
| Q3 25 | — | 63.8% | ||
| Q2 25 | — | 56.1% | ||
| Q1 25 | — | 30.6% | ||
| Q4 24 | — | 63.3% | ||
| Q3 24 | — | 68.2% | ||
| Q2 24 | — | 43.4% | ||
| Q1 24 | — | 23.9% |
资本支出强度HOODMA
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
现金转化率HOODMA
| Q4 25 | -1.55× | 1.23× | ||
| Q3 25 | -2.83× | 1.44× | ||
| Q2 25 | 9.09× | 1.24× | ||
| Q1 25 | 1.91× | 0.73× | ||
| Q4 24 | -1.53× | 1.45× | ||
| Q3 24 | 12.08× | 1.57× | ||
| Q2 24 | 0.29× | 0.96× | ||
| Q1 24 | -3.97× | 0.56× |
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
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% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
