HOOD · NMS · Financial Services
Robinhood Markets, Inc.
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 20.63
Market price
USD 83.84
Implied upside
-75.4%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 21.1%
- Payout
- 0%
- Cost of equity
- 13.45%
- Return on equity by the final year
- 20.0%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 9.1bn | USD 10.8bn | USD 12.6bn | USD 14.4bn | USD 16.3bn | USD 18.2bn | USD 19.9bn | USD 21.4bn | USD 22.7bn | USD 23.7bn |
| Return on equity | 21.0% | 20.9% | 20.8% | 20.6% | 20.5% | 20.4% | 20.3% | 20.2% | 20.1% | 20.0% |
| Excess return | USD 686.5m | USD 800.2m | USD 918.7m | USD 1.0bn | USD 1.2bn | USD 1.3bn | USD 1.4bn | USD 1.4bn | USD 1.5bn | USD 1.6bn |
| Present value | USD 605.1m | USD 621.6m | USD 629.1m | USD 626.9m | USD 615.1m | USD 594.0m | USD 564.5m | USD 527.7m | USD 485.2m | USD 438.7m |
| Book equity | USD 9.1bn |
| Present value of excess returns | USD 5.7bn |
| Terminal, growing at 2.50% | USD 4.1bn |
| Equity value | USD 19.0bn |
| Per share | USD 20.63 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 2.024 | Reported 2.528, pulled toward 1.0 (Blume) |
| Cost of equity | 13.45% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.