HOOD
Robinhood Markets, Inc.
HOOD offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
MKTX
MarketAxess Holdings Inc.
MKTX has the edge over HOOD overall, supported by lower modeled downside and stronger valuation.
HOOD Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
HOOD's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like HOOD.
MKTX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
MKTX's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like MKTX.
HOOD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 30x | $81.35 | — |
| Cheap | 37x | $78.84 | -3.1% |
| Current | 38x | $81.35 | — |
| Fair | 51x | $110 | +35% |
| Expensive | 74x | $160 | +96% |
Historical ranges are pointers, not guarantees.
HOOD's PE is in its cheap range at 38x. If earnings grow as analysts expect, today's price would be 30x next year's earnings.
MKTX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 20x | $165 | — |
| Forward | 20x | $165 | — |
| Cheap | 29x | $238 | +44% |
| Fair | 40x | $328 | +99% |
| Expensive | 66x | $535 | +224% |
Historical ranges are pointers, not guarantees.
MKTX has the edge over HOOD in the historical PE scenario, which offers more potential upside but is not a forecast.
HOOD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
HOOD has the edge over MKTX on the outlook, with more favorable valuation and revenue expectations.
MKTX Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect MKTX's earnings to grow and its profitability to improve, with its revenue holding steady.
HOOD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.72 | +26% |
| Q3 2026 | $2.16 | -10% |
| Q2 2026 | $2.26 | +15% |
| Q1 2026 | $2.06 | +18% |
| Q4 2025 | $2.05 | +31% |
| Q3 2025 | $2.40 | +314% |
| Q2 2025 | $1.96 | +513% |
| Q1 2025 | $1.75 | +1150% |
| Q4 2024 | $1.56 | +$2.17 |
HOOD has the edge over MKTX on earnings, with more consistent year-over-year improvement.
MKTX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.43 | +3.4% |
| Q3 2026 | $8.15 | +38% |
| Q2 2026 | $8.46 | +42% |
| Q1 2026 | $8.44 | +47% |
| Q4 2025 | $6.64 | -8.8% |
| Q3 2025 | $5.89 | -20% |
| Q2 2025 | $5.95 | -14% |
| Q1 2025 | $5.76 | -15% |
| Q4 2024 | $7.28 | +6.3% |
MKTX earned $8.15 per share over the past year, up 38% from the year before.
HOOD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +12% |
| Q2 2026 | $1.3B | +32% |
| Q1 2026 | $1.1B | +15% |
| Q4 2025 | $1.3B | +27% |
| Q3 2025 | $1.3B | +100% |
| Q2 2025 | $989M | +45% |
| Q1 2025 | $927M | +50% |
| Q4 2024 | $1B | +115% |
HOOD has the edge over MKTX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 44% | -5.9 points |
| Q2 2026 | 54% | +9.5 points |
| Q1 2026 | 39% | -1.5 points |
| Q4 2025 | 52% | -3.5 points |
| Q3 2025 | 50% | +26 points |
| Q2 2025 | 45% | +17 points |
| Q1 2025 | 40% | +14 points |
| Q4 2024 | 55% | +49 points |
HOOD has the edge over MKTX on profitability, with a higher operating margin.
MKTX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $210.4M | +0.8% |
| Q2 2026 | $218.4M | -0.5% |
| Q1 2026 | $233.4M | +12% |
| Q4 2025 | $209.4M | +3.5% |
| Q3 2025 | $208.8M | +1% |
| Q2 2025 | $219.5M | +11% |
| Q3 2022 | $172.1M | +6.2% |
| Q2 2022 | $182.2M | +3.3% |
MKTX's revenue has held roughly level: $210M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | -5.6 points |
| Q2 2026 | 41% | -0.7 points |
| Q1 2026 | 43% | +0.9 points |
| Q4 2025 | 36% | -3.2 points |
| Q3 2025 | 41% | -1.1 points |
| Q2 2025 | 42% | +0.7 points |
| Q1 2025 | 42% | N/A |
| Q4 2024 | 40% | N/A |
MKTX's operating margin was 35% last quarter, down 5.6 points from the same quarter a year ago, near the bottom of its range since 2019.
HOOD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +$2.8B |
| Q2 2026 | $720M | -79% |
| Q1 2026 | $2B | +217% |
| Q4 2025 | -$937M | +$463M |
| Q3 2025 | -$1.6B | -187% |
| Q2 2025 | $3.5B | +6398% |
| Q1 2025 | $642M | +$1.3B |
| Q4 2024 | -$1.4B | -246% |
HOOD has the edge over MKTX on cash flow, with more consistent year-over-year improvement.
MKTX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $246.7M | +178% |
| Q2 2026 | $26.2M | -74% |
| Q1 2026 | -$75.6M | -373% |
| Q4 2025 | $155.1M | -12% |
| Q3 2025 | $88.7M | -5.9% |
| Q2 2025 | $102.5M | -7.8% |
| Q1 2025 | $27.7M | +$33.8M |
| Q4 2024 | $176M | +26% |
MKTX's free cash flow was $352M over the past year, down 11% from the year before. Free cash flow isn't a meaningful measure for financial services companies like MKTX.
HOOD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -1M shares |
| 1 year | -0.8% | -6.9M shares |
| 3 years | +1.8% | +15.9M shares |
| 5 years | +292% | +679M shares |
| Available history | +7.2% | +60.8M shares |
HOOD has 911M diluted shares, down 0.8% from a year ago, with $789M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $25M |
| Q2 2026 | $414M |
| Q1 2026 | $250M |
| Q4 2025 | $100M |
| Q3 2025 | $107M |
| Q2 2025 | $124M |
| Q1 2025 | $322M |
| Q4 2024 | $160M |
HOOD spent $789M buying back its own shares over the past year, up 11% from the year before.
MKTX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +36K shares |
| 1 year | -4.9% | -1.8M shares |
| 3 years | -6.1% | -2.3M shares |
| 5 years | -7.4% | -2.8M shares |
| Available history | -7.1% | -2.7M shares |
MKTX has the edge over HOOD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $300M |
| Q3 2025 | $45.3M |
| Q2 2025 | $36.7M |
| Q1 2025 | $38.1M |
| Q4 2024 | $16.8M |
MKTX spent $300M buying back its own shares over the past year, up 119% from the year before.
HOOD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -2.1x | Net Cash |
| Q1 2026 | -2.2x | Net Cash |
| Q4 2025 | -1.9x | Net Cash |
| Q3 2025 | -2.1x | Net Cash |
| Q2 2025 | -2.6x | Net Cash |
| Q1 2025 | -3.3x | Net Cash |
| Q4 2024 | -3.8x | Net Cash |
HOOD has the edge over MKTX on leverage, with a lower net debt burden relative to earnings.
MKTX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | -1.1x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -1.2x | Net Cash |
| Q4 2024 | -1.3x | Net Cash |
MKTX has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like MKTX.
HOOD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.8 | Neutral |
| Stochastic | 9.5 | Oversold |
HOOD's weekly RSI is 41 (neutral) and its Stochastic is 10 (oversold).
MKTX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.8 | Neutral |
| Stochastic | 93.0 | Overbought |
MKTX's weekly RSI is 60 (neutral) and its Stochastic is 93 (overbought).
HOOD PE vs Financial Services Sector
| Metric | HOOD | Sector median | Relative |
|---|---|---|---|
| PE | 38x | 13x | 189% above |
| PE % | 22 | 66 | 44 pts below |
HOOD is trading at 38x earnings, a 189% premium to the Financial Services sector's median of 13x.
MKTX PE vs Financial Services Sector
| Metric | MKTX | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 13x | 56% above |
| PE % | 7 | 63 | 56 pts below |
MKTX has the edge over HOOD on valuation relative to its sector.
HOOD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $97.8 | 17% below |
| 20 week MA | $102.2 | 20% below |
| 50 week MA | $95.4 | 15% below |
| 100 week MA | $88.5 | 8.1% below |
| 200 week MA | $52.1 | 56% above |
HOOD has fallen below most of its moving averages, though it's still 56% above its 200-week average.
MKTX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $164.8 | 0.2% above |
| 20 week MA | $154.1 | 7.2% above |
| 50 week MA | $158.5 | 4.2% above |
| 100 week MA | $180.6 | 8.5% below |
| 200 week MA | $219.8 | 25% below |
MKTX has the edge over HOOD on trend strength, trading above more of its moving averages.
HOOD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $35.2 | $18.9 | -46% |
| 2022 | $18.9 | $7.95 | -58% |
| 2023 | $7.95 | $12.7 | +60% |
| 2024 | $12.7 | $39.0 | +206% |
| 2025 | $39.0 | $118.1 | +203% |
| 2026 YTD | $118.1 | $81.4 | -31% |
HOOD's yearly returns have swung widely, from +206% in 2024 to −58% in 2022. It's down 31% so far in 2026.
MKTX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $375.0 | $573.1 | +53% |
| 2021 | $573.1 | $410.7 | -28% |
| 2022 | $410.7 | $280.9 | -32% |
| 2023 | $280.9 | $292.9 | +4.3% |
| 2024 | $292.9 | $229.0 | -22% |
| 2025 | $229.0 | $182.9 | -20% |
| 2026 YTD | $182.9 | $165.2 | -9.7% |
MKTX has the edge over HOOD on returns for 2026, with the stronger performance.