HOOD
Robinhood Markets, Inc.
HOOD has a slight edge over SAN overall, supported by stronger valuation and stronger modeled upside.
SAN
Banco Santander, S.A.
SAN has lower modeled downside risk, despite its lower overall score.
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.
SAN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| N/A | |
| N/A |
SAN's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like SAN.
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 SAN in the historical PE scenario, which offers more potential upside but is not a forecast.
SAN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.8x | $6.79 | -44% |
| Fair | 6.9x | $8.02 | -34% |
| Expensive | 11x | $12.46 | +2.7% |
| Current | 11x | $12.13 | — |
Historical ranges are pointers, not guarantees.
SAN's PE is 11x, but its earnings don't support one, so it isn't a reliable read right now.
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.
SAN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for SAN, 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.
SAN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $1.16 | +27% |
| Q2 2026 | $1.14 | +24% |
| Q1 2026 | $1.12 | +24% |
| Q4 2025 | $0.96 | +12% |
| Q3 2025 | $0.91 | +11% |
| Q2 2025 | $0.92 | +15% |
| Q1 2025 | $0.90 | +18% |
| Q4 2024 | $0.86 | +18% |
SAN has the edge over HOOD on earnings, with more consistent year-over-year improvement.
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 SAN 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 SAN on profitability, with a higher operating margin.
SAN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $36.4B | +170% |
| Q2 2026 | $37.2B | +134% |
| Q1 2026 | $33B | -6% |
| Q4 2025 | $16.6B | -5.3% |
| Q3 2025 | $13.4B | -19% |
| Q2 2025 | $15.9B | -7.5% |
| Q1 2025 | $35.1B | -6.4% |
| Q4 2024 | $17.6B | +9.8% |
SAN's revenue has picked up after two years of holding roughly level: $36.4B last quarter, up 170% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | -18 points |
| Q2 2026 | 14% | -16 points |
| Q1 2026 | 17% | +0.5 points |
| Q4 2025 | 33% | +3.8 points |
| Q3 2025 | 33% | -0.1 points |
| Q2 2025 | 31% | -1 points |
| Q1 2025 | 16% | +2.8 points |
| Q4 2024 | 29% | +1.9 points |
SAN's operating margin was 15% last quarter, down 18 points from the same quarter a year ago.
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 stronger cash trend. Its trailing FCF is up 1,003% versus its history, compared with SAN at down 186%.
SAN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$21.9B | +$416.6M |
| Q4 2025 | $0 | -100% |
| Q3 2025 | -$11.1B | -186% |
| Q2 2025 | $21.6B | +$38.8B |
| Q1 2025 | -$22.3B | +$32.7B |
| Q4 2024 | $23B | +370% |
| Q3 2024 | $12.9B | +101% |
| Q2 2024 | -$17.1B | -1043% |
SAN's free cash flow was −$11.3B over the past year, against −$3.6B the year before. Free cash flow isn't a meaningful measure for financial services companies like SAN.
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 the edge over SAN on shareholder dilution, with a more favorable share count trend.
| 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.
SAN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +15% | +2.2B shares |
| 1 year | +6.2% | +990M shares |
| 3 years | +6.1% | +977M shares |
| 5 years | -9.7% | -1.8B shares |
| Available history | -6.8% | -1.2B shares |
SAN has 16.9B diluted shares, up 6.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2026 | $3.4B |
| Q4 2025 | — |
| Q3 2025 | $560.5M |
| Q2 2025 | $1.3B |
| Q1 2025 | $954.3M |
| Q4 2024 | $2.3B |
| Q3 2024 | $658.8M |
| Q2 2024 | $1.4B |
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 SAN on leverage, with a lower net debt burden relative to earnings.
SAN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 15.4x | High |
| Q2 2026 | 14.8x | High |
| Q1 2026 | 13.8x | High |
| Q4 2025 | 14.6x | High |
| Q3 2025 | 1.4x | Healthy |
| Q2 2025 | 1.1x | Healthy |
| Q1 2025 | 1.1x | Healthy |
| Q4 2024 | 11.9x | High |
SAN's net debt is about 15 years of its operating earnings (EBITDA), up from 1.4 years a year ago. Net leverage isn't a meaningful measure for financial services companies like SAN.
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).
SAN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.0 | Neutral |
| Stochastic | 14.4 | Oversold |
SAN's weekly RSI is 42 (neutral) and its Stochastic is 14 (oversold).
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.
SAN PE vs Financial Services Sector
| Metric | SAN | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 19% below |
| PE % | 81 | 63 | 18 pts above |
SAN 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.
SAN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.8 | 5.3% below |
| 20 week MA | $13.7 | 12% below |
| 50 week MA | $12.7 | 4.5% below |
| 100 week MA | $10.3 | 18% above |
| 200 week MA | $7.25 | 67% above |
SAN 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.
SAN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.96 | $3.19 | -19% |
| 2021 | $3.19 | $3.26 | +2.2% |
| 2022 | $3.26 | $2.94 | -9.8% |
| 2023 | $2.94 | $4.14 | +41% |
| 2024 | $4.14 | $4.49 | +8.5% |
| 2025 | $4.49 | $11.8 | +163% |
| 2026 YTD | $11.8 | $12.1 | +2.7% |
SAN has the edge over HOOD on returns for 2026, with the stronger performance.