Robinhood Markets, Inc.
Shortcut
0.68Normalized diluted EPS
+6.1% vs Street
Street
0.64Normalized diluted EPS
October 25 consensus snapshot
Real
0.60Provider normalized diluted EPS
Model download
Explore the assumptions and calculations behind the forecast.
Shortcut’s reasoning.
Issuer monthly data (Jul, Aug, Sep 1-24): options ~906M contracts (+17% Q/Q), equity notional ~$998B (+4%), event contracts ~16.3B (+20%); crypto App notional ~$20B; take rates held near 1H26 levels (mgmt: July take rates similar to Q2).
NII ~$415M: margin book avg ~$21.5B at ~4.55% (Fed +25bp Sep-16), sweep/cash yields flat, securities lending net negative in August (-$8M) -> -$11M for the quarter.
Revenue $1,415M is ~1.2% below consensus $1,431M (crypto and securities lending below Street line items), but opex $768M (Adj. OpEx & SBC $703M, consistent with lowered FY26 outlook) and a 17% ETR give GAAP NI $534M.
On the record.
- Reporting period
- Q3 2026 (FQ3 2026 - Sep 2026)
- Reporting basis
- Empirically calibrated forecast of frozen consensus normalized diluted EPS, not source-proven issuer/provider adjustment definition
- Consensus snapshot
- October 25, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Reviewed workbook
Record history
- Forecast generated
- Oct 27, 2026 at 1:55 AM PDT
- Original author completed
- Oct 26, 2026 at 11:53 PM PDT
- Reviewed revision completed
- Oct 27, 2026 at 1:55 AM PDT
- First published
- Oct 27, 2026 at 11:06 AM PDT
Result basis
Robinhood reports GAAP diluted EPS of $0.51 and newly introduced issuer adjusted diluted EPS of $0.60. Google Finance now explicitly displays Q3 2026 Normalized EPS of $0.60 versus $0.64 estimated. Scoring uses that verified provider-normalized actual and the original frozen forecasts, without inferring a match from GAAP or the new issuer measure.