$HOOD · The Motley Fool · 2026-10-28
HOOD 的会员增长已放缓，新增客户速度慢于 SoFi，同时股价偏贵；但这一日趋成熟的业务在用户变现方面执行得非常好——Robin Hood Gold 同比增长 34%，约 20% 的会员和 40% 的新客户在使用它，事件合约增长 230%——不过快速增长的 IRA 账户带来的收益不会像加密交易者那样高；增长放缓值得关注，但不必恐慌。
逐段跳播
昨晚的重要财报之一来自 Robin Hood。这是我们在这里和 YouTube 上谈过不少的一家公司，但 Matt，市场似乎对 Robin Hood 的业绩并不特别满意，早盘交易中该股下跌了约6%。
one of the big earnings reports last night was Robin Hood. This is one of the ones that we've talked about a fair amount here and on YouTube, but Matt, the market didn't seem particularly happy with Robin Hood's results early in trading. The stock was down about 6%.
是的，他们的会员增长缓慢。这是关键问题之一。但这确实值得关注，不值得恐慌。Robin Hood 的商业模式确实已经从“不惜一切代价扩大用户基础”转向“从现有用户身上获取更多资金”。而在后一半上，他们实际上做得非常好。
Yeah, I mean, well, their member growth is slow. That's the one of the key things. But it it's really it's something that's worth watching, not worth panicking for. Robin Hood's business model has really shifted from grow the user base at all costs to get more of your users money.
And on the second half of that, they're actually doing a very good job.
Lou，这似乎是目前一家很难评估的公司，因为我们已经走出了超高速增长模式——那时他们不仅在大量增加用户，而且这些用户还在向平台投入大量资产。他们在交易加密货币，现在还引入了预测市场，而且做得非常好。
你看到其中一些市场出现疲软。他们增加客户的速度不如 SoFi 这样的公司，然而股价却真的很贵。
Lou, this seems like one of those challenging companies to look at right now because we've exited the hyper growth mode where they were not only adding a lot of users, but also those users were adding a ton of assets to the platform.
They're trading cryptocurrencies, brought in prediction markets now, which are doing extremely well. You're seeing weakness in some of these markets. They're not adding customers at the same rate that a company like SoFi is and yet the stock is really expensive.
我很喜欢 Robin Hood 的 IRA 业务以极快的速度增长，但你从 IRA 客户身上赚不到像从加密货币交易者身上赚到的那样多的钱。
I love that Robin Hood is growing their IRA business at an extremely rapid rate, but you're not going to make a ton of money off of IRA customers the way that you are off of crypto traders.
正是如此。值得肯定的是，他们已经走了很远。他们不再是那种小初创公司了。如果用户增长放缓是因为 Robin Hood 已经基本覆盖了其目标人群的大部分，很难再往上走，但他们正在从这些客户身上获取更大的份额。
这是件好事。正如你所说，这表明这项业务正在成熟。
That's it exactly. To their credit, they've come a long way. They are not this little like startup now. Um, if user growth is slowing because Robin Hood has kind of captured so much of its target demographic that it's hard to go higher. uh but they are capturing more of the share of those uh customers.
That's a great thing. That's a sign that this business like you say is maturing.
我随口就能说出一点，他们在某些方面比 SoFi 这样的公司做得好得多，正好呼应你说的成熟度。你说得对，他们不会赚很多钱。即使平均每个 IRA 有10万美元，你对任何东西都不收佣金。
你知道，那不是一个很赚钱的模式，但 Robin Hood Gold，他们的订阅产品，在这方面他们比大多数有订阅业务的金融科技公司执行得更好。同比增长34%，令人印象深刻。大约20%左右的 Robin Hood 会员是 Robin Hood Gold 会员。
40%的新客户会注册这项服务。这是一个非常亮眼的数字。
I can name one thing just off the top of my head that they're doing a lot better than companies like SoFi, just to kind of, you know, to your point of maturity. And and you're right, they're not going to make a ton of money.
Even if the average IRA has $100,000, you're charging no commissions on anything. You know, if that's not a a very profitable model, but Robin Hood Gold, their subscription product, that's something they're executing better than most other fintech that have subscriptions.
Up 34% year-over-year. impressively there. You know, about 20% of Robin Hood members, give or take, are Robin Hood Gold members. 40% of their new customers are signing up for it. That's a a a very impressive figure.
那预测市场呢？我的意思是，看，我不知道，各位，事件合约同比增长了230%。
And how about prediction markets, too? I mean, look, I I don't know, guys, event contracts were up 230% year-over-year.
这个频道对 $HOOD 的历次判断
The Motley Fool 在这只股票上共 3 条判断，这里只列相邻的几条。