Robinhood Markets, Inc. (HOOD) Balance Sheet
HOOD balance sheet, 2025
December 31, 2025 · U.S. dollars$38.14B assets = $28.99B liabilities + $9.15B equity
Both columns are drawn to the same scale: what HOOD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HOOD financial health
Descriptive bands, not a rating. Fiscal 2025.
HOOD balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.94B2019 | $38.14B2025 | +46.0%/yr | |
| Total liabilities | $4.04B2019 | $28.99B2025 | +38.9%/yr | |
| Shareholders’ equity | −$97.0M2019 | $9.14B2025 | — | |
| Cash & short-term investments | $647.0M2019 | $10.45B2025 | +59.0%/yr | |
| Total debt | $674.0M2019 | $11.63B2025 | +60.7%/yr | |
| Net cash (debt) | −$27.0M2019 | −$1.18B2025 | −$1.1B | |
| Working capital | $774.7M2019 | $7.53B2025 | +$6.8B | |
| Book value per share | −$0.112019 | $9.952025 | — | |
| Current ratio | 1.252019 | 1.262025 | +0.01 | |
| Debt / equity | 0.502021 | 1.272025 | +0.77 | |
| Shares outstanding | 850.2M2019 | 918.8M2025 | +1.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HOOD assets
HOOD liabilities and equity
HOOD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HOOD balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $10.45B | $10.50B | $8.44B | $7.85B | $8.09B | $2.21B | $647.0M |
| Cash & equivalents | $4.26B | $4.33B | $4.83B | $6.34B | $6.25B | $1.40B | $644.0M |
| Short-term investments | $6.19B | $6.16B | $3.61B | $1.51B | $1.83B | $802.5M | $3.0M |
| Receivables | $18.42B | $8.71B | $3.58B | $3.29B | $6.73B | $3.48B | $660.9M |
| Inventory | $0 | $0 | −$152.0M | $3.27B | −$42.1M | $802.5M | $3.0M |
| Other current assets | $7.43B | $5.90B | $5.21B | $8.50B | $4.51B | $4.39B | $2.57B |
| Total current assets | $36.30B | $25.10B | $17.08B | $22.92B | $19.28B | $10.87B | $3.88B |
| Property, plant & equipment (net) | $154.0M | $139.0M | $120.0M | $146.0M | $146.0M | $45.8M | $25.3M |
| Goodwill & intangible assets | $553.0M | $217.0M | $223.0M | $125.0M | $135.0M | $185,000 | $0 |
| Long-term investments | $0 | $0 | $73.0M | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.12B | $728.0M | $126.0M | $149.0M | $205.0M | $69.9M | $43.0M |
| Total assets | $38.14B | $26.19B | $17.62B | $23.34B | $19.77B | $10.99B | $3.94B |
| Liabilities | |||||||
| Accounts payable | $463.0M | $397.0M | $384.0M | $185.0M | $252.0M | $104.6M | $37.6M |
| Short-term debt | $11.63B | $7.46B | $3.55B | $1.83B | $3.65B | $1.92B | $674.0M |
| Deferred revenue | — | — | $3.48B | $3.68B | $1.2M | $5.89B | $2.35B |
| Total current liabilities | $28.77B | $18.10B | $10.84B | $16.25B | $12.35B | $8.82B | $3.10B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $215.0M | $111.0M | $91.0M | $128.0M | $129.0M | $2.23B | $940.1M |
| Total liabilities | $28.99B | $18.21B | $10.93B | $16.38B | $12.48B | $11.04B | $4.04B |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | — | — | — | — | $86,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$2.15B | −$4.04B | −$5.45B | −$4.91B | −$3.88B | −$190.1M | −$196.7M |
| Accumulated other comprehensive income | $8.0M | −$1.0M | −$3.0M | $6.96B | $1.0M | $473,000 | $189,000 |
| Minority interest | $11.0M | $0 | — | — | — | — | — |
| Total shareholders' equity | $9.14B | $7.97B | $6.70B | $6.96B | $7.29B | −$55.3M | −$97.0M |
| Key figures | |||||||
| Total debt | $11.63B | $7.46B | $3.55B | $1.83B | $3.65B | $1.92B | $674.0M |
| Net cash (debt) | −$1.18B | $3.03B | $4.89B | $6.02B | $4.44B | $284.0M | −$27.0M |
| Working capital | $7.53B | $7.00B | $6.25B | $6.66B | $6.94B | $2.06B | $774.7M |
| Tangible book value | $8.59B | $7.75B | $6.47B | $6.83B | $7.16B | −$55.5M | −$97.0M |
| Book value per share | $9.95 | $8.80 | $7.52 | $7.92 | $8.44 | −$0.07 | −$0.11 |
| Shares outstanding | 918.8M | 906.2M | 890.9M | 878.6M | 863.9M | 850.2M | 850.2M |
| Current ratio | 1.26 | 1.39 | 1.58 | 1.41 | 1.56 | 1.23 | 1.25 |
| Quick ratio | 1.00 | 1.06 | 1.11 | 0.69 | 1.20 | 0.64 | 0.42 |
| Debt / equity | 1.27 | 0.94 | 0.53 | 0.26 | 0.50 | — | — |
| Equity / assets | 24.0% | 30.4% | 38.0% | 29.8% | 36.9% | −0.5% | −2.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $16.16B | $12.19B | $10.45B | $14.61B | $13.54B | $11.25B | $10.50B | $11.04B | $9.26B | $9.29B | $8.44B | $7.86B |
| Cash & equivalents | $5.36B | $5.01B | $4.26B | $4.33B | $4.16B | $4.42B | $4.33B | $4.61B | $4.52B | $4.72B | $4.83B | $4.89B |
| Short-term investments | $10.80B | $7.17B | $6.19B | $10.28B | $9.38B | $6.84B | $6.16B | $6.43B | $4.73B | $4.58B | $3.61B | $2.97B |
| Receivables | $23.47B | $18.60B | $18.42B | $14.87B | $10.06B | $9.43B | $8.71B | $5.68B | $5.19B | $4.51B | $3.58B | $3.77B |
| Inventory | $12.13B | $0 | $0 | $0 | $0 | $0 | $0 | −$225.0M | −$31.60B | $483.0M | $0 | $3.80B |
| Other current assets | $2.77B | $12.63B | $7.43B | $10.50B | $10.24B | $5.53B | $5.90B | $26.10B | $57.86B | $31.26B | $5.06B | $10.31B |
| Total current assets | $54.53B | $43.41B | $36.30B | $39.98B | $33.83B | $26.21B | $25.10B | $42.60B | $40.71B | $45.55B | $17.08B | $25.74B |
| Property, plant & equipment (net) | $177.0M | $162.0M | $154.0M | $150.0M | $149.0M | $140.0M | $139.0M | $133.0M | $123.0M | $122.0M | $120.0M | $123.0M |
| Goodwill & intangible assets | $762.0M | $604.0M | $553.0M | $558.0M | $574.0M | $401.0M | $217.0M | $218.0M | $224.0M | $221.0M | $223.0M | $217.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.0M | $10.0M | $73.0M | $118.0M |
| Other non-current assets | $1.08B | $1.29B | $1.12B | $765.0M | $768.0M | $761.0M | $728.0M | $289.0M | $291.0M | $190.0M | $126.0M | $121.0M |
| Total assets | $56.55B | $45.47B | $38.14B | $41.45B | $35.32B | $27.52B | $26.19B | $43.24B | $41.35B | $46.09B | $17.62B | $26.32B |
| Liabilities | ||||||||||||
| Accounts payable | $646.0M | $522.0M | $463.0M | $399.0M | $369.0M | $319.0M | $397.0M | $443.0M | $386.0M | $351.0M | $384.0M | $373.0M |
| Short-term debt | $20.54B | $13.39B | $11.63B | $15.67B | $12.64B | $9.10B | $7.46B | $7.31B | $5.09B | $4.21B | $3.55B | $3.25B |
| Deferred revenue | — | — | — | — | — | — | — | — | $3.76B | $5.0M | −$384.0M | $2.91B |
| Total current liabilities | $44.58B | $35.55B | $28.77B | $32.76B | $27.12B | $19.43B | $18.10B | $35.96B | $34.14B | $39.11B | $10.84B | $19.65B |
| Long-term debt | $2.17B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $263.0M | $232.0M | $215.0M | $123.0M | $130.0M | $133.0M | $111.0M | $79.0M | $84.0M | $90.0M | $91.0M | $96.0M |
| Total liabilities | $47.01B | $35.79B | $28.99B | $32.88B | $27.25B | $19.56B | $18.21B | $36.04B | $34.22B | $39.20B | $10.93B | $19.74B |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$1.24B | −$1.80B | −$2.15B | −$2.76B | −$3.31B | −$3.70B | −$4.04B | −$4.95B | −$5.10B | −$5.29B | −$5.45B | −$5.48B |
| Accumulated other comprehensive income | −$10.0M | $2.0M | $8.0M | $7.0M | $7.0M | — | −$1.0M | $1.0M | — | −$2.0M | −$3.0M | −$4.0M |
| Minority interest | $61.0M | $369.0M | $11.0M | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $9.48B | $9.32B | $9.14B | $8.57B | $8.07B | $7.95B | $7.97B | $7.21B | $7.12B | $6.88B | $6.70B | $6.57B |
| Key figures | ||||||||||||
| Total debt | $22.71B | $13.39B | $11.63B | $15.67B | $12.64B | $9.10B | $7.46B | $7.31B | $5.09B | $4.21B | $3.55B | $3.25B |
| Net cash (debt) | −$6.54B | −$1.20B | −$1.18B | −$1.06B | $898.0M | $2.15B | $3.03B | $3.74B | $4.16B | $5.08B | $4.89B | $4.62B |
| Working capital | $9.96B | $7.86B | $7.53B | $7.22B | $6.71B | $6.78B | $7.00B | $6.65B | $6.57B | $6.43B | $6.25B | $6.09B |
| Tangible book value | $8.72B | $8.71B | $8.59B | $8.01B | $7.50B | $7.55B | $7.75B | $6.99B | $6.90B | $6.66B | $6.47B | $6.36B |
| Book value per share | $10.38 | $10.18 | $9.96 | $9.33 | $8.88 | $8.75 | $8.78 | $7.96 | $7.87 | $7.87 | $7.58 | $7.34 |
| Shares outstanding | 913.0M | 915.0M | 917.7M | 917.9M | 909.1M | 909.2M | 907.8M | 905.5M | 904.5M | 875.3M | 883.2M | 895.1M |
| Current ratio | 1.22 | 1.22 | 1.26 | 1.22 | 1.25 | 1.35 | 1.39 | 1.18 | 1.19 | 1.16 | 1.58 | 1.31 |
| Quick ratio | 0.89 | 0.87 | 1.00 | 0.90 | 0.87 | 1.06 | 1.06 | 0.47 | 0.42 | 0.35 | 1.11 | 0.59 |
| Debt / equity | 2.40 | 1.44 | 1.27 | 1.83 | 1.57 | 1.14 | 0.94 | 1.01 | 0.71 | 0.61 | 0.53 | 0.49 |
| Equity / assets | 16.8% | 20.5% | 24.0% | 20.7% | 22.9% | 28.9% | 30.4% | 16.7% | 17.2% | 14.9% | 38.0% | 25.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 18, 2026); data from EODHD.
HOOD financial position
At the end of fiscal 2025 (December 31, 2025), Robinhood had total assets of $38.1 billion (up 45.6% from a year earlier), total liabilities of $29.0 billion and shareholders' equity of $9.1 billion. It held $10.5 billion in cash and short-term investments against $11.6 billion of debt, net debt of $1.2 billion. Its current ratio was 1.26. In the latest quarter (ended June 30, 2026) total assets were $56.5 billion and equity $9.5 billion.
Related: HOOD income statement, HOOD cash flow statement, HOOD key metrics. See the HOOD stock overview for the latest quote and news.
HOOD balance sheet FAQ
What are Robinhood's total assets?
Robinhood reported total assets of $38.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $26.2 billion a year earlier.
How much debt does Robinhood have?
Robinhood had $11.6 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.27.
How much cash does Robinhood have?
Robinhood held $10.5 billion in cash and short-term investments at the end of fiscal 2025; with $11.6 billion of debt that is net debt of $1.2 billion.
What is Robinhood's book value?
Robinhood's shareholders' equity (book value) was $9.1 billion at the end of fiscal 2025, or $9.95 per share.
What is Robinhood's current ratio?
Robinhood had current assets of $36.3 billion and current liabilities of $28.8 billion, a current ratio of 1.26 (it can cover its short-term obligations).
How much goodwill does Robinhood have?
Robinhood carried $553.0 million of goodwill and intangible assets, 1.5% of total assets, at the end of fiscal 2025.