The clean answer is split, but it still points in a useful direction: SoFi looks cheaper on revenue multiples, while Robinhood is slightly cheaper on forward earnings.
That gap matters because Robinhood is still being priced like a faster-growing platform business, while SoFi is being treated more like a value entry point for digital finance. Robinhood's forward P/E is only a touch lower, so this is not a runaway earnings advantage.
Bottom line: SoFi looks cheaper on sales-based valuation. Robinhood is slightly cheaper on forward earnings.
Current numbers at a glance
| Metric | Robinhood | SoFi | Why it matters |
|---|---|---|---|
| Market cap | $69.37B | $20.20B | Robinhood is larger, but the multiple is much richer. |
| Price / sales | 15.04x | 3.93x | SoFi is much cheaper on revenue. |
| EV / sales | 24.20x | 5.25x | Enterprise value points to the same gap. |
| Forward P/E | 35.85x | 38.02x | Robinhood is only slightly cheaper on earnings. |
Data note: these comparisons use the latest public market and financial snapshots available on May 10, 2026.
What the valuation gap says
The market is assigning Robinhood a much richer revenue multiple because it is still being rewarded for platform growth, product breadth, and monetization across retail users. SoFi, by contrast, looks like the simpler value read if you anchor on sales.
If you are ranking the two stocks strictly by valuation, SoFi looks like the cheaper entry point. If you care more about earnings power, Robinhood's lead is narrower than the sales gap suggests.
Why the market values them differently
Robinhood's premium comes from the market believing the platform can keep expanding beyond basic trading into a broader consumer finance relationship. That makes the shares easier to justify when users stay active and monetization per customer keeps improving.
SoFi is priced more like a digital finance platform that still has room to rerate if member growth, product adoption, and cash generation keep improving. The lower sales multiple gives it the cleaner valuation setup right now.
What would make Robinhood look cheaper?
Robinhood would look cheaper if revenue growth kept compounding while the sales multiple compressed closer to SoFi's. A stronger cash flow conversion story would also help the case.
What would make SoFi look cheaper?
SoFi would look cheaper if member growth kept improving and the business kept proving it can turn lending and non-lending products into durable earnings. A lower multiple on that progress would make the stock look more compelling.
The verdict
For a valuation-first reader, SoFi looks like the lower-multiple name. Robinhood keeps the slight earnings edge, but not enough to erase the revenue gap.