HOOD
Robinhood Markets, Inc.
HOOD offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
NDAQ
Nasdaq, Inc.
NDAQ has a slight edge over HOOD overall, supported by lower modeled downside and stronger fundamentals.
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.
NDAQ Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
NDAQ's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like NDAQ.
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 has the edge over NDAQ in the historical PE scenario, which offers more potential upside but is not a forecast.
NDAQ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $87.92 | -19% |
| Forward | 24x | $109 | — |
| Fair | 27x | $100 | -7.9% |
| Current | 30x | $109 | — |
| Expensive | 35x | $128 | +18% |
Historical ranges are pointers, not guarantees.
NDAQ's PE is in its expensive range at 30x. If earnings grow as analysts expect, today's price would be 24x next year's earnings, in its cheap range.
HOOD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for HOOD, with profitability improving. However, they disagree widely on these estimates.
NDAQ Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NDAQ, with profitability improving.
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 earned $2.16 per share over the past year, down 10% from the year before.
NDAQ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.57 | +25% |
| Q3 2026 | $3.66 | +30% |
| Q2 2026 | $3.43 | +31% |
| Q1 2026 | $3.32 | +50% |
| Q4 2025 | $3.09 | +60% |
| Q3 2025 | $2.81 | +71% |
| Q2 2025 | $2.61 | +53% |
| Q1 2025 | $2.21 | +18% |
| Q4 2024 | $1.93 | -7.2% |
NDAQ earned $3.66 per share over the past year, up 30% 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 NDAQ on sales, with stronger typical year-over-year growth.
| 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 NDAQ on profitability, with a higher operating margin.
NDAQ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +22% |
| Q2 2026 | $2.5B | +21% |
| Q1 2026 | $2.1B | +2.2% |
| Q4 2025 | $2.1B | +4.6% |
| Q3 2025 | $2B | +2.9% |
| Q2 2025 | $2.1B | +17% |
| Q1 2025 | $2.1B | +25% |
| Q4 2024 | $2B | +23% |
NDAQ's revenue has grown year over year for 12 quarters in a row: $2.4B last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +0.7 points |
| Q2 2026 | 28% | +0.9 points |
| Q1 2026 | 31% | +4.6 points |
| Q4 2025 | 30% | +4.1 points |
| Q3 2025 | 30% | +6.4 points |
| Q2 2025 | 27% | +3.6 points |
| Q1 2025 | 26% | +1.7 points |
| Q4 2024 | 25% | +4 points |
NDAQ's operating margin was 31% last quarter, up 0.7 points from the same quarter a year ago, near the top 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's free cash flow was $3B over the past year, up 159% from the year before. Free cash flow isn't a meaningful measure for financial services companies like HOOD.
NDAQ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $459M | +202% |
| Q2 2026 | $634M | -7.7% |
| Q1 2026 | $629M | +2.4% |
| Q4 2025 | $536M | -17% |
| Q3 2025 | $152M | -19% |
| Q2 2025 | $687M | +68% |
| Q1 2025 | $614M | +25% |
| Q4 2024 | $645M | +72% |
NDAQ's free cash flow was $2.3B over the past year, up 7.6% from the year before. Free cash flow isn't a meaningful measure for financial services companies like NDAQ.
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.
NDAQ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -4.4M shares |
| 1 year | -2.7% | -15.7M shares |
| 3 years | +14% | +69.2M shares |
| 5 years | +10% | +52.8M shares |
| Available history | +12% | +62.4M shares |
NDAQ has the edge over HOOD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $323M |
| Q2 2026 | $355M |
| Q1 2026 | $548M |
| Q4 2025 | $286M |
| Q3 2025 | $115M |
| Q2 2025 | $100M |
| Q1 2025 | $115M |
| Q4 2024 | — |
NDAQ spent $1.5B buying back its own shares over the past year, about five times what it spent 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 NDAQ on leverage, with a lower net debt burden relative to earnings.
NDAQ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 2.6x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 2.8x | Moderate |
| Q3 2025 | 3.0x | Elevated |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 3.4x | Elevated |
| Q4 2024 | 3.7x | Elevated |
NDAQ's net debt is about 2.5 years of its operating earnings (EBITDA), down from 3.0 years a year ago. Net leverage isn't a meaningful measure for financial services companies like NDAQ.
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).
NDAQ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.4 | Neutral |
| Stochastic | 87.1 | Overbought |
NDAQ's weekly RSI is 68 (neutral) and its Stochastic is 87 (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.
NDAQ PE vs Financial Services Sector
| Metric | NDAQ | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 13x | 128% above |
| PE % | 69 | 63 | 6 pts above |
NDAQ 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.
NDAQ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $99.5 | 9.2% above |
| 20 week MA | $95.9 | 13% above |
| 50 week MA | $92.1 | 18% above |
| 100 week MA | $88.2 | 23% above |
| 200 week MA | $73.9 | 47% above |
NDAQ 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.
NDAQ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.0 | $42.9 | +19% |
| 2021 | $42.9 | $68.5 | +60% |
| 2022 | $68.5 | $61.3 | -11% |
| 2023 | $61.3 | $58.1 | -5.1% |
| 2024 | $58.1 | $78.4 | +35% |
| 2025 | $78.4 | $99.4 | +27% |
| 2026 YTD | $99.4 | $108.7 | +9.4% |
NDAQ has the edge over HOOD on returns for 2026, with the stronger performance.