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罗宾汉（HOOD）与华纳音乐集团（WMG）财务数据对比。点击上方公司名可切换其他公司
华纳音乐集团的季度营收约是罗宾汉的2.0倍（$1.8B vs $927.0M），罗宾汉净利率更高（36.2% vs 9.6%，领先26.7%），华纳音乐集团同比增速更快（10.4% vs -27.7%），过去两年罗宾汉的营收复合增速更高（16.6% vs 11.0%）
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。
华纳音乐集团（简称WMG）是总部位于美国纽约的跨国娱乐及唱片集团，属于全球唱片行业“三大巨头”之一，市场规模位居全球音乐行业第三位，仅次于环球音乐集团与索尼音乐娱乐。
HOOD vs WMG — 直观对比
营收规模更大
WMG
是对方的2.0倍
$927.0M
营收增速更快
WMG
高出38.2%
-27.7%
净利率更高
HOOD
高出26.7%
9.6%
两年增速更快
HOOD
近两年复合增速
11.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $927.0M | $1.8B |
| 净利润 | $336.0M | $176.0M |
| 毛利率 | — | 46.4% |
| 营业利润率 | — | 15.7% |
| 净利率 | 36.2% | 9.6% |
| 营收同比 | -27.7% | 10.4% |
| 净利润同比 | -2.9% | -25.4% |
| 每股收益（稀释后） | $336.00 | — |
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HOODWMG
| Q1 26 | $927.0M | — | ||
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $989.0M | $1.7B | ||
| Q1 25 | $927.0M | $1.5B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $637.0M | $1.6B | ||
| Q2 24 | $682.0M | $1.6B |
净利润HOODWMG
| Q1 26 | $336.0M | — | ||
| Q4 25 | $605.0M | $176.0M | ||
| Q3 25 | $556.0M | $109.0M | ||
| Q2 25 | $386.0M | $-16.0M | ||
| Q1 25 | $336.0M | $36.0M | ||
| Q4 24 | $916.0M | $236.0M | ||
| Q3 24 | $150.0M | $41.0M | ||
| Q2 24 | $188.0M | $139.0M |
毛利率HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 44.6% | ||
| Q2 25 | — | 45.9% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 46.3% | ||
| Q3 24 | — | 47.6% | ||
| Q2 24 | — | 46.6% |
营业利润率HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | 51.5% | 15.7% | ||
| Q3 25 | 49.8% | 7.7% | ||
| Q2 25 | 44.7% | 10.0% | ||
| Q1 25 | 40.0% | 11.3% | ||
| Q4 24 | 55.0% | 12.8% | ||
| Q3 24 | 24.0% | 8.8% | ||
| Q2 24 | 28.0% | 13.3% |
净利率HOODWMG
| Q1 26 | 36.2% | — | ||
| Q4 25 | 47.2% | 9.6% | ||
| Q3 25 | 43.6% | 5.8% | ||
| Q2 25 | 39.0% | -0.9% | ||
| Q1 25 | 36.2% | 2.4% | ||
| Q4 24 | 90.3% | 14.2% | ||
| Q3 24 | 23.5% | 2.5% | ||
| Q2 24 | 27.6% | 8.9% |
每股收益（稀释后）HOODWMG
| Q1 26 | $336.00 | — | ||
| 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 | — |
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 | $751.0M |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | $9.2B | $720.0M |
| 总资产 | $38.1B | $10.0B |
| 负债/权益比越低杠杆越低 | — | 6.07× |
8季度趋势，按日历期对齐
现金及短期投资HOODWMG
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | $751.0M | ||
| Q3 25 | $4.3B | $532.0M | ||
| Q2 25 | $4.2B | $527.0M | ||
| Q1 25 | $4.4B | $637.0M | ||
| Q4 24 | $4.3B | $802.0M | ||
| Q3 24 | $4.6B | $694.0M | ||
| Q2 24 | $4.5B | $607.0M |
总债务HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益HOODWMG
| Q1 26 | $9.2B | — | ||
| Q4 25 | $9.2B | $720.0M | ||
| Q3 25 | $8.6B | $647.0M | ||
| Q2 25 | $8.1B | $589.0M | ||
| Q1 25 | $8.0B | $567.0M | ||
| Q4 24 | $8.0B | $545.0M | ||
| Q3 24 | $7.2B | $518.0M | ||
| Q2 24 | $7.1B | $483.0M |
总资产HOODWMG
| Q1 26 | $38.1B | — | ||
| Q4 25 | $38.1B | $10.0B | ||
| Q3 25 | $41.5B | $9.8B | ||
| Q2 25 | $35.3B | $9.8B | ||
| Q1 25 | $27.5B | $9.6B | ||
| Q4 24 | $26.2B | $9.1B | ||
| Q3 24 | $43.2B | $9.2B | ||
| Q2 24 | $41.3B | $8.8B |
负债/权益比HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | — | 6.07× | ||
| Q3 25 | — | 6.75× | ||
| Q2 25 | — | 7.41× | ||
| Q1 25 | — | 7.57× | ||
| Q4 24 | — | 7.26× | ||
| Q3 24 | — | 7.75× | ||
| Q2 24 | — | 8.24× |
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 | $440.0M |
| 自由现金流经营现金流 - 资本支出 | — | $420.0M |
| 自由现金流率自由现金流/营收 | — | 22.8% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 1.91× | 2.50× |
| 过去12个月自由现金流最近4个季度 | — | $663.0M |
8季度趋势，按日历期对齐
经营现金流HOODWMG
| Q1 26 | $642.0M | — | ||
| Q4 25 | $-937.0M | $440.0M | ||
| Q3 25 | $-1.6B | $231.0M | ||
| Q2 25 | $3.5B | $46.0M | ||
| Q1 25 | $642.0M | $69.0M | ||
| Q4 24 | $-1.4B | $332.0M | ||
| Q3 24 | $1.8B | $304.0M | ||
| Q2 24 | $54.0M | $188.0M |
自由现金流HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | — | $420.0M | ||
| Q3 25 | — | $203.0M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $296.0M | ||
| Q3 24 | — | $271.0M | ||
| Q2 24 | — | $160.0M |
自由现金流率HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | — | 22.8% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 16.6% | ||
| Q2 24 | — | 10.3% |
资本支出强度HOODWMG
| Q1 26 | — | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.8% |
现金转化率HOODWMG
| Q1 26 | 1.91× | — | ||
| Q4 25 | -1.55× | 2.50× | ||
| Q3 25 | -2.83× | 2.12× | ||
| Q2 25 | 9.09× | — | ||
| Q1 25 | 1.91× | 1.92× | ||
| Q4 24 | -1.53× | 1.41× | ||
| Q3 24 | 12.08× | 7.41× | ||
| Q2 24 | 0.29× | 1.35× |
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% |
WMG
| Digital | $976.0M | 53% |
| Music Publishing | $362.0M | 20% |
| Artist Services And Expanded Rights | $231.0M | 13% |
| Licensing | $121.0M | 7% |
| Performance | $64.0M | 3% |
| Synchronization | $60.0M | 3% |
| Mechanical | $18.0M | 1% |
| Other | $5.0M | 0% |
