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罗宾汉（HOOD）与美客多（MELI）财务数据对比。点击上方公司名可切换其他公司
美客多的季度营收约是罗宾汉的6.6倍（$6.1B vs $927.0M），罗宾汉净利率更高（36.2% vs 9.1%，领先27.1%），美客多同比增速更快（40.2% vs -27.7%），过去两年美客多的营收复合增速更高（40.7% vs 16.6%）
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。
美客多（Mercado Libre）是起源于阿根廷、在美国特拉华州注册的互联网企业，核心业务涵盖电商平台运营及在线拍卖服务，是拉丁美洲头部电商平台。截至2016年，其在拉美地区拥有1.742亿用户，是当地访问量最高的电商站点。
HOOD vs MELI — 直观对比
营收规模更大
MELI
是对方的6.6倍
$927.0M
营收增速更快
MELI
高出67.9%
-27.7%
净利率更高
HOOD
高出27.1%
9.1%
两年增速更快
MELI
近两年复合增速
16.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $927.0M | $6.1B |
| 净利润 | $336.0M | $559.0M |
| 毛利率 | — | 61.7% |
| 营业利润率 | — | 14.5% |
| 净利率 | 36.2% | 9.1% |
| 营收同比 | -27.7% | 40.2% |
| 净利润同比 | -2.9% | -12.5% |
| 每股收益（稀释后） | $336.00 | $11.03 |
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HOODMELI
| Q1 26 | $927.0M | — | ||
| Q4 25 | $1.3B | $6.1B | ||
| Q3 25 | $1.3B | $5.2B | ||
| Q2 25 | $989.0M | $4.8B | ||
| Q1 25 | $927.0M | $4.2B | ||
| Q4 24 | $1.0B | $4.4B | ||
| Q3 24 | $637.0M | $3.9B | ||
| Q2 24 | $682.0M | $3.8B |
净利润HOODMELI
| Q1 26 | $336.0M | — | ||
| Q4 25 | $605.0M | $559.0M | ||
| Q3 25 | $556.0M | $421.0M | ||
| Q2 25 | $386.0M | $523.0M | ||
| Q1 25 | $336.0M | $494.0M | ||
| Q4 24 | $916.0M | $639.0M | ||
| Q3 24 | $150.0M | $397.0M | ||
| Q2 24 | $188.0M | $531.0M |
毛利率HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | — | 61.7% | ||
| Q3 25 | — | 61.7% | ||
| Q2 25 | — | 64.4% | ||
| Q1 25 | — | 66.1% | ||
| Q4 24 | — | 62.8% | ||
| Q3 24 | — | 62.6% | ||
| Q2 24 | — | 62.8% |
营业利润率HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | 51.5% | 14.5% | ||
| Q3 25 | 49.8% | 13.9% | ||
| Q2 25 | 44.7% | 17.2% | ||
| Q1 25 | 40.0% | 18.2% | ||
| Q4 24 | 55.0% | 18.7% | ||
| Q3 24 | 24.0% | 14.3% | ||
| Q2 24 | 28.0% | 19.3% |
净利率HOODMELI
| Q1 26 | 36.2% | — | ||
| Q4 25 | 47.2% | 9.1% | ||
| Q3 25 | 43.6% | 8.1% | ||
| Q2 25 | 39.0% | 10.9% | ||
| Q1 25 | 36.2% | 11.8% | ||
| Q4 24 | 90.3% | 14.6% | ||
| Q3 24 | 23.5% | 10.2% | ||
| Q2 24 | 27.6% | 14.1% |
每股收益（稀释后）HOODMELI
| Q1 26 | $336.00 | — | ||
| Q4 25 | $0.65 | $11.03 | ||
| Q3 25 | $0.61 | $8.32 | ||
| Q2 25 | $0.42 | $10.31 | ||
| Q1 25 | $0.37 | $9.74 | ||
| Q4 24 | $1.00 | $12.60 | ||
| Q3 24 | $0.17 | $7.83 | ||
| Q2 24 | $0.21 | $10.48 |
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 | $6.3B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $9.2B | $6.7B |
| 总资产 | $38.1B | $42.7B |
| 负债/权益比越低杠杆越低 | — | 0.68× |
8季度趋势，按日历期对齐
现金及短期投资HOODMELI
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | $6.3B | ||
| Q3 25 | $4.3B | $6.3B | ||
| Q2 25 | $4.2B | $7.6B | ||
| Q1 25 | $4.4B | $8.1B | ||
| Q4 24 | $4.3B | $7.1B | ||
| Q3 24 | $4.6B | $6.7B | ||
| Q2 24 | $4.5B | $6.9B |
总债务HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $2.4B |
股东权益HOODMELI
| Q1 26 | $9.2B | — | ||
| Q4 25 | $9.2B | $6.7B | ||
| Q3 25 | $8.6B | $6.2B | ||
| Q2 25 | $8.1B | $5.7B | ||
| Q1 25 | $8.0B | $5.0B | ||
| Q4 24 | $8.0B | $4.4B | ||
| Q3 24 | $7.2B | $4.0B | ||
| Q2 24 | $7.1B | $3.7B |
总资产HOODMELI
| Q1 26 | $38.1B | — | ||
| Q4 25 | $38.1B | $42.7B | ||
| Q3 25 | $41.5B | $36.7B | ||
| Q2 25 | $35.3B | $32.9B | ||
| Q1 25 | $27.5B | $27.7B | ||
| Q4 24 | $26.2B | $25.2B | ||
| Q3 24 | $43.2B | $22.6B | ||
| Q2 24 | $41.3B | $20.0B |
负债/权益比HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | — | 0.68× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 0.67× |
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 | $642.0M | $5.2B |
| 自由现金流经营现金流 - 资本支出 | — | $4.8B |
| 自由现金流率自由现金流/营收 | — | 77.9% |
| 资本支出强度资本支出/营收 | — | 7.0% |
| 现金转化率经营现金流/净利润 | 1.91× | 9.32× |
| 过去12个月自由现金流最近4个季度 | — | $10.8B |
8季度趋势，按日历期对齐
经营现金流HOODMELI
| Q1 26 | $642.0M | — | ||
| Q4 25 | $-937.0M | $5.2B | ||
| Q3 25 | $-1.6B | $3.0B | ||
| Q2 25 | $3.5B | $2.9B | ||
| Q1 25 | $642.0M | $1.0B | ||
| Q4 24 | $-1.4B | $2.9B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $54.0M | $1.9B |
自由现金流HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | — | $4.8B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $759.0M | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.7B |
自由现金流率HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | — | 77.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 54.8% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 59.8% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 45.1% |
资本支出强度HOODMELI
| Q1 26 | — | — | ||
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 4.9% |
现金转化率HOODMELI
| Q1 26 | 1.91× | — | ||
| Q4 25 | -1.55× | 9.32× | ||
| Q3 25 | -2.83× | 7.03× | ||
| Q2 25 | 9.09× | 5.58× | ||
| Q1 25 | 1.91× | 2.09× | ||
| Q4 24 | -1.53× | 4.58× | ||
| Q3 24 | 12.08× | 4.03× | ||
| Q2 24 | 0.29× | 3.54× |
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
| Transaction-based revenues | $583.0M | 63% |
| Other | $290.0M | 31% |
| Other revenues | $54.0M | 6% |
MELI
| Commerce | $2.8B | 45% |
| Argentina Segment | $1.6B | 26% |
| Products | $1.2B | 20% |
| Other Countries Segment | $414.0M | 7% |
