[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"app-context":3,"blog-robinhood-is-building-13-businesses-at-once-the-october-27-report-tests-whether-margins-pay-for-it-ZH":222},{"languages":4,"categories":41,"products":125,"competitors":149},[5,9,13,17,21,25,29,33,37],{"name":6,"code":7,"id":8},"English","EN","TGFuZ3VhZ2U6ZW4=",{"name":10,"code":11,"id":12},"Español","ES","TGFuZ3VhZ2U6ZXM=",{"name":14,"code":15,"id":16},"Português","PT","TGFuZ3VhZ2U6cHQ=",{"name":18,"code":19,"id":20},"日本語","JA","TGFuZ3VhZ2U6amE=",{"name":22,"code":23,"id":24},"한국어","KO","TGFuZ3VhZ2U6a28=",{"name":26,"code":27,"id":28},"Deutsch","DE","TGFuZ3VhZ2U6ZGU=",{"name":30,"code":31,"id":32},"Italiano","IT","TGFuZ3VhZ2U6aXQ=",{"name":34,"code":35,"id":36},"Français","FR","TGFuZ3VhZ2U6ZnI=",{"name":38,"code":39,"id":40},"中文 (中国)","ZH","TGFuZ3VhZ2U6emg=",[42,73,104],{"icon":43,"slug":44,"title":45,"description":46,"featuredLinks":47},"mingcute:stock-line","stock-market-basics","Stock Market Basics","\u003Cp>Beginners' guides and practical tips for understanding stock market investing.\u003C\u002Fp>\n",[48,53,58,63,68],{"url":49,"title":50,"description":51,"ogImage":52},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-makes-stocks-go-up-and-down","What Makes Stocks Go Up and Down | TIKR.com","Understanding what makes stock prices go up and down can help investors better navigate investing. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-makes-stocks-go-up-and-down-banner\u002FWhat-makes-stocks-go-up-and-down-banner.jpg?_i=AA",{"url":54,"title":55,"description":56,"ogImage":57},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fdividend-yield-meaning-formula-example","Dividend Yield: Meaning, Formula, Example | Tikr.com Blog | TIKR.com","The dividend yield is a key metric for investors looking to gauge the income potential of their investments. It measures how much a company pays out in","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FDividend-yield\u002FDividend-yield.png?_i=AA",{"url":59,"title":60,"description":61,"ogImage":62},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fmarket-capitalization-definition-formula-and-why-it-matters","Market Capitalization: Definition, Formula, and Why It Matters | TIKR.com","Long-term investors often look at various valuation metrics when deciding whether to invest in a particular company. One helpful metric to evaluate is","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters.png?_i=AA",{"url":64,"title":65,"description":66,"ogImage":67},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fearnings-per-share-definition-formula-and-why-eps-matters","Earnings Per Share: Definition, Formula, and Why EPS Matters | TIKR.com","Earnings Per Share (EPS) represents the portion of a company's net earnings allocated to each share. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEPS-Defiinition-formula-and-why-EPS-matters-1\u002FEPS-Defiinition-formula-and-why-EPS-matters-1.png?_i=AA",{"url":69,"title":70,"description":71,"ogImage":72},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-stock-price-target","What Is a Stock Price Target? | TIKR.com","A price target is a stock's estimated future price. It can help investors quickly find undervalued stocks. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-Stock-Price-Target-2\u002FWhat-is-a-Stock-Price-Target-2.png?_i=AA",{"icon":74,"slug":75,"title":76,"description":77,"featuredLinks":78},"material-symbols:analytics-outline","fundamental-analysis","Fundamental Analysis","\u003Cp>In-depth resources and financial metrics to help you evaluate companies like a pro.\u003C\u002Fp>\n",[79,84,89,94,99],{"url":80,"title":81,"description":82,"ogImage":83},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fshare-repurchase-why-do-companies-buy-back-their-stock","Share Repurchase: Why Do Companies Buy Back Their Stock? | TIKR.com","Share repurchases, or share buybacks, have gained popularity in the last two decades. According to a report from Goldman Sachs, stock buybacks initiated","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e.png?_i=AA",{"url":85,"title":86,"description":87,"ogImage":88},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-invested-capital","What Is a Good Return on Invested Capital? | TIKR.com","Learning about Return on Invested Capital (ROIC) can help investors spot highly profitable stocks that can drive long-term returns. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-Invested-capital\u002FWhat-is-a-good-return-on-Invested-capital.png?_i=AA",{"url":90,"title":91,"description":92,"ogImage":93},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-equity-ratio","What is a Good Return on Equity Ratio | Tikr.com Blog | TIKR.com","Return on Equity (ROE) is a financial ratio that reflects a company's profitability in relation to the equity invested by shareholders. It basically","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-equity-ratio-1\u002FWhat-is-a-good-return-on-equity-ratio-1.jpg?_i=AA",{"url":95,"title":96,"description":97,"ogImage":98},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-p-e-ratio","What Is a Good P\u002FE Ratio? | TIKR.com","Financial analysts and investors look at various metrics before deciding whether a stock is a buy. One of the metrics is the price-to-earnings ratio (P\u002FE","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-PE-ratio-1\u002FWhat-is-a-good-PE-ratio-1.jpg?_i=AA",{"url":100,"title":101,"description":102,"ogImage":103},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Ftop-6-metrics-for-investing-in-reits","Top 6 Metrics for Investing in REITs | TIKR.com","Real estate has been one of the greatest asset classes for wealth creation in history, and investing in Real Estate Investment Trusts (REITs) can allow","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FGroup-10\u002FGroup-10.png?_i=AA",{"icon":105,"slug":106,"title":107,"description":108,"featuredLinks":109},"hugeicons:investigation","investing-lingo","Investing Lingo","\u003Cp>A comprehensive glossary of investing terms and jargon so you can speak the language of the markets confidently.\u003C\u002Fp>\n",[110,115,120],{"url":111,"title":112,"description":113,"ogImage":114},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fenterprise-value-definition-and-calculation","Enterprise Value: Definition and Calculation | Tikr.com Blog | TIKR.com","Enterprise value (EV) is a financial metric that offers a comprehensive snapshot of a company's total value. Unlike market capitalization which solely","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEnterprise-Value-Definition-and-Calculation_37576e40\u002FEnterprise-Value-Definition-and-Calculation_37576e40.png?_i=AA",{"url":116,"title":117,"description":118,"ogImage":119},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Febitda-definition-formula-how-to-use-it","EBITDA: Definition, Formula, How to Use It | TIKR.com","EBITDA stands for earnings before interest, taxes, depreciation and amortization. It's a financial metric commonly used to evaluate a company's financial","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEBITDA-Definition-Formula-How-to-Use-It\u002FEBITDA-Definition-Formula-How-to-Use-It.png?_i=AA",{"url":121,"title":122,"description":123,"ogImage":124},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-the-free-cash-flow-formula-and-why-does-it-matter","What is the Free Cash Flow Formula and Why Does It Matter | TIKR.com","Free cash flow, or FCF, is the cash a company generates after it accounts for outflows required to maintain business operations and support capital","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-the-free-cash-flow-formula\u002FWhat-is-the-free-cash-flow-formula.png?_i=AA",[126,130,134,137,141,145],{"slug":127,"modified":128,"title":129},"valuation-model-builder","2025-07-03T00:18:53","Value Stocks Quickly and Accurately",{"slug":131,"modified":132,"title":133},"stock-portfolio-tracking","2024-12-02T22:21:28","Monitor Your Portfolio",{"slug":75,"modified":135,"title":136},"2025-01-21T22:10:52","Instantly Analyze Companies with In-Depth Metrics",{"slug":138,"modified":139,"title":140},"stock-screener","2024-12-02T22:13:31","Find the Best Stocks to Buy",{"slug":142,"modified":143,"title":144},"investor-stock-portfolio","2025-01-21T22:02:56","Follow Investment Moves of Top Investors",{"slug":146,"modified":147,"title":148},"analyze-stocks","2025-07-23T16:04:24","Analyze Stocks",[150,154,158,162,166,170,174,178,182,186,190,194,198,202,206,210,214,218],{"slug":151,"title":152,"modified":153},"bloomberg","Bloomberg","2025-01-16T14:23:44",{"slug":155,"title":156,"modified":157},"morningstar","Morningstar","2025-01-16T14:25:16",{"slug":159,"title":160,"modified":161},"sentieo","Sentieo","2025-01-16T17:58:27",{"slug":163,"title":164,"modified":165},"googlefinance","Google Finance","2025-01-17T19:39:37",{"slug":167,"title":168,"modified":169},"tradingview","TradingView","2025-01-16T18:17:01",{"slug":171,"title":172,"modified":173},"factset","Factset","2025-01-16T18:20:16",{"slug":175,"title":176,"modified":177},"finviz","Finviz","2025-01-16T18:23:40",{"slug":179,"title":180,"modified":181},"ycharts","YCharts","2025-01-16T18:32:19",{"slug":183,"title":184,"modified":185},"marketbeat","MarketBeat","2025-03-11T00:27:23",{"slug":187,"title":188,"modified":189},"benzinga","Benzinga","2025-03-11T00:31:00",{"slug":191,"title":192,"modified":193},"gurufocus","Gurufocus","2025-03-11T00:31:12",{"slug":195,"title":196,"modified":197},"fast-graphs","FAST Graphs","2025-03-11T00:31:19",{"slug":199,"title":200,"modified":201},"tipranks","TipRanks","2025-03-11T00:31:26",{"slug":203,"title":204,"modified":205},"seeking-alpha","Seeking Alpha","2025-03-11T00:31:45",{"slug":207,"title":208,"modified":209},"thestreet","TheStreet","2025-03-11T00:31:52",{"slug":211,"title":212,"modified":213},"investing-com","Investing.com","2025-03-11T00:32:00",{"slug":215,"title":216,"modified":217},"zacks","Zacks","2025-03-26T15:40:40",{"slug":219,"title":220,"modified":221},"alphasense","AlphaSense","2025-03-11T00:32:15",{"post":223,"seo":256,"relatedPosts":262,"suggestedPosts":338},{"id":224,"title":225,"date":226,"modified":226,"excerpt":227,"content":228,"wordCount":229,"lang":230,"uri":231,"slug":232,"cloudinaryAssetId":233,"featuredImageOriginalUrl":234,"featuredImageMetadata":235,"author":238,"editor":244,"categories":247,"relatedPosts":253,"seo":254},145458,"Robinhood正同时打造13项业务。10月27日的财报将检验利润率能否支撑这一布局。","2026-10-26T19:56:09","\u003Cp>营收增长是容易的部分\u003C\u002Fp>","\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>[图片来源：cyano66 来自 Getty Images 和 Karola G 来自 Pexels，经由 Canva]\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-key-takeaways\" class=\"wp-block-heading\">核心要点\u003C\u002Fh2>\n\n\n\n\u003Cul class=\"wp-block-list\">\n\u003Cli>Robinhood 将于 10 月 27 日周二收盘后公布第三季度业绩，目前其 13 条业务线的年化收入均达到或超过 1 亿美元。\u003C\u002Fli>\n\n\n\n\u003Cli>这份报告将显示，在 2026 年上半年成本增速超过收入之后，业务扩张是否仍在扩大运营利润率。\u003C\u002Fli>\n\n\n\n\u003Cli>Robinhood 的 GAAP 运营利润率从 2024 年的 36% 上升至 2025 年的 47%，随后在 2026 年第二季度下滑至 44%。\u003C\u002Fli>\n\n\n\n\u003Cli>分析师预计 2027 年调整后每股收益将跃升 34%，这只有在当前支出开始转化为利润的情况下才能实现。\u003C\u002Fli>\n\u003C\u002Ful>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>Robinhood (\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fstock\u002Fabout?cid=276763615&tid=1673049332\">HOOD\u003C\u002Fa>)\u003C\u002Fstrong> 在过去两年里，以尽可能快的速度通过推出或收购来增加业务。其第三季度报告将于 10 月 27 日周二收盘后发布，届时将显示这些业务是否仍在创造价值。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-thirteen-lines-and-counting\" class=\"wp-block-heading\">十三条业务线且仍在增加\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">在其第二季度业绩中，Robinhood 表示其 13 条业务线的年化收入达到或超过 1 亿美元。（这是单季度收入乘以四，所以这并非 13 个成熟的、收入达 1 亿美元的业务。）期权和加密货币交易与事件合约、保证金贷款、Gold 订阅和信用卡业务并列。较新的业务，如 Rothera 交易所、WonderFi 和特朗普账户，则紧随其后。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">所有这些业务的广度已体现在收入上。收入从 2023 年的 18.7 亿美元攀升至 2025 年的 44.7 亿美元，其中包括去年 52% 的跃升。\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1793011590\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png?_i=AA\" alt=\"TIKR 提供的 Robinhood Markets 总收入柱状图，单位十亿美元，2021-2025 财年。\" class=\"wp-post-145458 wp-image-145456\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1793011590\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1793011590\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793011590\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1793011590\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1793011590\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1793011590\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025\u002F2026-10-26_iae5544a548_HOOD_revenue_2021-2025.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Robinhood Markets (HOOD): 总收入，单位十亿美元，2021-2025 财年 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Ch2 id=\"h-the-margin-was-the-payoff\" class=\"wp-block-heading\">利润率曾是回报所在\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">有一段时间，每新增一美元收入大部分都直接转化为了运营利润。在 2021 年和 2022 年出现运营亏损后，Robinhood 的 GAAP 运营利润率在 2025 年达到 46.8%，高于 2024 年的 35.7%……\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">2026 年则更为艰难。上半年，GAAP 运营费用增长了 26%，而收入增长了 24%。每新增一美元收入中，大约有 38 美分转化为运营利润，低于 2025 年的大约 68 美分。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>TIKR 追踪了 32 位分析师对 Robinhood 的看法。有多少人给出“买入”评级？\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">查看 Robinhood 的买入、持有和卖出评级的完整细分，以及华尔街的收入和盈利预测，所有这些信息都集中在一个地方。超过 50 万投资者使用 TIKR 来研究像这样的股票。\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fvaluation-model-builder?ref=tikrblog\">查看 Robinhood 的分析师评级\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">新业务是造成这种情况的部分原因。信贷损失拨备也是如此，该拨备在第二季度翻倍至 5600 万美元，此外还有 6 月份裁员 10% 产生的 2300 万美元重组费用。第二季度的运营利润率从一年前的 44.4% 下滑至 43.9%。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-what-oct-27-has-to-show\" class=\"wp-block-heading\">10 月 27 日需要展示的内容\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">7 月，Robinhood 将其 2026 年调整后运营费用加股权激励的预测范围下调至 26.75 亿至 27.75 亿美元。上半年支出了 12.5 亿美元，这意味着今年剩余时间每季度大约有 7.15 亿至 7.65 亿美元。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">一份好的报告将是支出处于该范围的低端或更低，且收入达到或超过分析师预期的 14.3 亿美元。运营利润率也将回升至 43.9% 以上。去年第三季度设定了更高的门槛，利润率达到 49.8%。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-watch-the-cost-line-too\" class=\"wp-block-heading\">也需关注成本线\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">交易收入仍是本季度的主要驱动力。交易收入占第二季度收入的 59%，高于一年前的 55%，而其内部构成波动剧烈。加密货币收入下降 38% 至 1 亿美元，而事件合约收入则从 1000 万美元跃升至 1.56 亿美元。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">期权和事件合约业务表现强劲的一个季度，即使没有成本控制的帮助，也可能推高利润率；而表现不佳的季度则可能拉低利润率。这使得相对于公司业绩指引的支出情况，成为判断扩张是否创造价值的更清晰指标。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-wall-street-is-already-counting-on-it\" class=\"wp-block-heading\">华尔街已经在指望它了\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">分析师预计今年调整后每股收益将增长 9% 至 2.54 美元，然后在 2027 年增长 34% 至 3.42 美元，并在 2028 年达到 4.39 美元。\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1793011577\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png?_i=AA\" alt=\"TIKR 提供的 Robinhood Markets 调整后每股收益柱状图，实际值与共识预测，每股美元，2023-2028 财年。\" class=\"wp-post-145458 wp-image-145457\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1793011577\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1793011577\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793011577\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1793011577\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1793011577\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1793011577\u002Fimages\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028\u002F2026-10-26_iae5544a548_HOOD_eps_estimates_2023-2028.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Robinhood Markets (HOOD): 调整后每股收益，实际值与共识预测，每股美元，2023-2028 财年 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">2027 年的跃升假设费用增速再次远低于收入增速，分析师预计该年收入将增长 29%。（只有七位分析师给出了 2026 年和 2027 年的每股收益预测。）\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">我的看法：到目前为止，Robinhood 的扩张已经创造了价值。但在 2026 年上半年，其成本增速超过了销售额增速，而 2027 年的预测几乎没有给这种情况持续下去留下空间。如果第三季度支出处于公司指引的低端且利润率回升至 44% 以上，那么扩张就再次创造了价值。如果支出达到指引范围的上限而利润率进一步下滑，那么这些预测就显得过高了。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">当然，一个季度无法定论。2027 年的费用展望，很可能在明年年初与第四季度业绩一同发布，才是更大的考验。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-so-what-is-robinhood-stock-actually-worth\" class=\"wp-block-heading\">那么 Robinhood 股票的实际价值是多少？\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">TIKR 让你在一分钟内预测任何股票的未来价格。只需在 TIKR 的估值模型中输入几个假设，就能看到 Robinhood 可能的价值。可以从华尔街共识预测开始，或者调整输入参数以反映你对业务的看法。免费使用。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fvaluation-model-builder?ref=tikrblog\">免费为 Robinhood 估值\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Ch3 id=\"h-disclaimer\" class=\"wp-block-heading\">\u003Cstrong>免责声明：\u003C\u002Fstrong>\u003C\u002Fh3>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cem>请注意，TIKR 上的文章并非 TIKR 或我们的内容团队提供的投资或财务建议，也不是买入或卖出任何股票的建议。我们根据 TIKR Terminal 的投资数据和分析师预测来创建内容。我们的分析可能未包含近期的公司新闻或重要更新。TIKR 对提及的任何股票均无持仓。感谢阅读，祝您投资愉快！\u003C\u002Fem>\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003C\u002Fp>",919,"zh","\u002Fblog\u002Frobinhood-is-building-13-businesses-at-once-the-october-27-report-tests-whether-margins-pay-for-it","robinhood-is-building-13-businesses-at-once-the-october-27-report-tests-whether-margins-pay-for-it","images\u002Fthoughtful-man-bitcoin\u002Fthoughtful-man-bitcoin","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793011641\u002Fimages\u002Fthoughtful-man-bitcoin\u002Fthoughtful-man-bitcoin.png?_i=AA",{"altText":236,"imageCredit":237},"Robinhood Is Building 13 Businesses at Once. The October 27 Report Tests Whether Margins Pay for It","cyano66 from Getty Images and Karola G from Pexels via Canva",{"name":239,"slug":240,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":243},"Roxanna Maglangit","roxtikr","author","",[],{"name":239,"slug":240,"role":245,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":246},"editor",[],[248],{"name":249,"slug":250,"uri":251,"description":242,"postsCount":252},"一般投资","general-investing","\u002Fblog\u002Fcategory\u002Fgeneral-investing",0,[],{"title":236,"metaDesc":255,"opengraphDescription":255,"twitterTitle":236,"twitterDescription":255},"Revenue growth is the easy part",{"title":236,"description":255,"twitterTitle":236,"twitterDescription":255,"author":239,"articlePublisher":257,"articlePublishedTime":226,"articleModifiedTime":226,"twitterLabel1":258,"twitterData1":259,"ogTitle":236,"ogDescription":255,"ogUrl":231,"ogImage":234,"ogImageWidth":260,"ogImageHeight":261,"ogImageSecureUrl":234,"ogImageAlt":236,"twitterImage":234},"TIKR.com","预计阅读时间","2 minutes",1200,630,[263,278,293,308,323],{"id":252,"title":264,"date":265,"excerpt":266,"wordCount":267,"uri":268,"slug":269,"cloudinaryAssetId":270,"featuredImageOriginalUrl":271,"featuredImageMetadata":272,"author":273,"categories":275,"relatedPosts":277},"SoFi股价下跌45%，克拉默将其与银行股挂钩。以下是财报必须呈现的内容","2026-10-26 19:49:10","周二是SoFi证明其盈利能力的时刻",955,"\u002Fblog\u002Fsofi-is-down-45-and-cramer-ties-it-to-bank-stocks-heres-what-the-report-must-show","sofi-is-down-45-and-cramer-ties-it-to-bank-stocks-heres-what-the-report-must-show","images\u002FSNA-stock-SteveLuker-from-Getty-Images-Signature-via-Canva\u002FSNA-stock-SteveLuker-from-Getty-Images-Signature-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792701308\u002Fimages\u002FSNA-stock-SteveLuker-from-Getty-Images-Signature-via-Canva\u002FSNA-stock-SteveLuker-from-Getty-Images-Signature-via-Canva.png?_i=AA",{"altText":264},{"name":239,"slug":240,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":274},[],[276],{"name":249,"slug":250,"uri":251,"description":242,"postsCount":252},[],{"id":252,"title":279,"date":280,"excerpt":281,"wordCount":282,"uri":283,"slug":284,"cloudinaryAssetId":285,"featuredImageOriginalUrl":286,"featuredImageMetadata":287,"author":288,"categories":290,"relatedPosts":292},"PayPal股价较峰值下跌逾80%。10月27日财报将揭示什么","2026-10-26 19:45:44","门槛很低。这是个好消息。",981,"\u002Fblog\u002Fpaypal-is-down-more-than-80-from-its-peak-heres-what-october-27-has-to-show","paypal-is-down-more-than-80-from-its-peak-heres-what-october-27-has-to-show","images\u002Fpondering-man-card-payment\u002Fpondering-man-card-payment","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793012179\u002Fimages\u002Fpondering-man-card-payment\u002Fpondering-man-card-payment.png?_i=AA",{"altText":279},{"name":239,"slug":240,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":289},[],[291],{"name":249,"slug":250,"uri":251,"description":242,"postsCount":252},[],{"id":252,"title":294,"date":295,"excerpt":296,"wordCount":297,"uri":298,"slug":299,"cloudinaryAssetId":300,"featuredImageOriginalUrl":301,"featuredImageMetadata":302,"author":303,"categories":305,"relatedPosts":307},"特朗普在财报前增持奈飞。200亿美元押注其需要\"两到三部爆款\"","2026-10-26 19:43:00","门槛可能比看起来要低",1010,"\u002Fblog\u002Ftrump-added-netflix-before-earnings-20-billion-says-it-needs-two-or-three-big-hits","trump-added-netflix-before-earnings-20-billion-says-it-needs-two-or-three-big-hits","images\u002FNetflix\u002FNetflix","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792781809\u002Fimages\u002FNetflix\u002FNetflix.png?_i=AA",{"altText":294},{"name":239,"slug":240,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":304},[],[306],{"name":249,"slug":250,"uri":251,"description":242,"postsCount":252},[],{"id":252,"title":309,"date":310,"excerpt":311,"wordCount":312,"uri":313,"slug":314,"cloudinaryAssetId":315,"featuredImageOriginalUrl":316,"featuredImageMetadata":317,"author":318,"categories":320,"relatedPosts":322},"Moderna股价再跌8%，尽管首席研究员称黑色素瘤疫苗数据\"具有变革性\"","2026-10-26 19:28:09","黑色素瘤患者的真正福音，股价依然高企",774,"\u002Fblog\u002Fmoderna-sinks-another-8-even-as-lead-investigator-calls-melanoma-vaccine-data-transformational","moderna-sinks-another-8-even-as-lead-investigator-calls-melanoma-vaccine-data-transformational","images\u002Fgrim-older-man-falling-red-chart\u002Fgrim-older-man-falling-red-chart","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792780116\u002Fimages\u002Fgrim-older-man-falling-red-chart\u002Fgrim-older-man-falling-red-chart.png?_i=AA",{"altText":309},{"name":239,"slug":240,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":319},[],[321],{"name":249,"slug":250,"uri":251,"description":242,"postsCount":252},[],{"id":252,"title":324,"date":325,"excerpt":326,"wordCount":327,"uri":328,"slug":329,"cloudinaryAssetId":330,"featuredImageOriginalUrl":331,"featuredImageMetadata":332,"author":333,"categories":335,"relatedPosts":337},"Lumentum上涨3%，StoneX给予买入评级，目标价1200美元：关键稀缺点","2026-10-26 19:24:22","StoneX 并非在冒险行事",730,"\u002Fblog\u002Flumentum-gains-3-as-stonex-starts-at-buy-with-1200-target-critical-scarcity-points","lumentum-gains-3-as-stonex-starts-at-buy-with-1200-target-critical-scarcity-points","images\u002Fconfident-man-rising-green-chart\u002Fconfident-man-rising-green-chart","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792770636\u002Fimages\u002Fconfident-man-rising-green-chart\u002Fconfident-man-rising-green-chart.png?_i=AA",{"altText":324},{"name":239,"slug":240,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":334},[],[336],{"name":249,"slug":250,"uri":251,"description":242,"postsCount":252},[],[339,359,374,388],{"id":252,"title":340,"date":341,"excerpt":342,"wordCount":343,"uri":344,"slug":345,"cloudinaryAssetId":346,"featuredImageOriginalUrl":347,"featuredImageMetadata":348,"author":349,"categories":353,"relatedPosts":358},"过去12个月上涨13%，Arista Networks股票能否在2026年带来更佳回报？","2026-10-26 12:57:00","Arista股票一年内上涨了10%。查看TIKR估值模型对ANET上行空间的预测，其目标价预计在2028年12月前达到275美元。",1099,"\u002Fblog\u002Farista-networks-stock-valuation-anet-2026","arista-networks-stock-valuation-anet-2026","images\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793010558\u002Fimages\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva.png?_i=AA",{"altText":340},{"name":350,"slug":351,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":352},"Aditya Raghunath","adityatikr",[],[354],{"name":355,"slug":356,"uri":357,"description":242,"postsCount":252},"估价","valuation","\u002Fblog\u002Fcategory\u002Fvaluation",[],{"id":252,"title":360,"date":361,"excerpt":362,"wordCount":363,"uri":364,"slug":365,"cloudinaryAssetId":366,"featuredImageOriginalUrl":367,"featuredImageMetadata":368,"author":369,"categories":371,"relatedPosts":373},"过去12个月下跌48%，SoFi股票能否在2026年交出更好的成绩单？","2026-10-26 12:45:00","SoFi股价一年内下跌了51%。来看看TIKR估值模型对SOFI上行空间的看法，其目标价为到2028年12月达到22美元。",1081,"\u002Fblog\u002Fsofi-stock-valuation-sofi-2026","sofi-stock-valuation-sofi-2026","images\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793015325\u002Fimages\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva.png?_i=AA",{"altText":360},{"name":350,"slug":351,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":370},[],[372],{"name":355,"slug":356,"uri":357,"description":242,"postsCount":252},[],{"id":252,"title":375,"date":361,"excerpt":376,"wordCount":377,"uri":378,"slug":379,"cloudinaryAssetId":380,"featuredImageOriginalUrl":381,"featuredImageMetadata":382,"author":383,"categories":385,"relatedPosts":387},"过去12个月仅上涨9%，Palantir股票能否在2026年带来更好的回报？","Palantir股价一年来仅上涨4%。查看TIKR估值模型对PLTR上行空间的预测，其目标价至2028年12月将达到529美元。",1024,"\u002Fblog\u002Fpalantir-stock-valuation-pltr-2026","palantir-stock-valuation-pltr-2026","images\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793003212\u002Fimages\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c.png?_i=AA",{"altText":375},{"name":350,"slug":351,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":384},[],[386],{"name":355,"slug":356,"uri":357,"description":242,"postsCount":252},[],{"id":252,"title":389,"date":390,"excerpt":391,"wordCount":392,"uri":393,"slug":394,"cloudinaryAssetId":395,"featuredImageOriginalUrl":396,"featuredImageMetadata":397,"author":398,"categories":400,"relatedPosts":402},"过去12个月下跌56%，AppLovin股票能否在2026年带来更好回报？","2026-10-26 12:33:00","AppLovin股价在过去一年下跌了60%。来看看TIKR估值模型对APP上行潜力的分析，其给出的目标价为到2028年12月达到366美元。",1139,"\u002Fblog\u002Fapplovin-stock-valuation-app-2026","applovin-stock-valuation-app-2026","images\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793013215\u002Fimages\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2.png?_i=AA",{"altText":389},{"name":350,"slug":351,"role":241,"roleTitle":242,"biography":242,"avatar":242,"socialMediaLinks":399},[],[401],{"name":355,"slug":356,"uri":357,"description":242,"postsCount":252},[]]