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Roku, Inc.

ROKU Communication Services Entertainment

Roku, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, up 15.2% from fiscal 2024.

Revenue
+24.1%
EPS
+625.5%
Free cash flow
+72.4%

Quarter to September 2026, against a year earlier

160.63 0.26 +0.16%
Market cap
$23.9B
P/E
46.4×
Fwd P/E
52.9×
Dividend yield
—
F-score
7/9
Altman Z
6.57
Beneish M
−2.81
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Sold, $m 133.35
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 4 3 7 8 6 11 4 5 8 4 2
Insider Ownership 11.53%

Capital & Financial Ratios $m

Size
Market Cap 23,910.00
Revenue ttm 5,500.49
Net income ttm 513.73
Free cash flow ttm 801.46
Net debt Q (2,720.57)
Valuation
P/E 46.38 (above 35: high)
Forward P/E 52.90 (above 35: high)
Price / sales 4.34
Forward P/S Powerpack
Price / FCF 29.79
Price / book 7.87 (above 6: high)
Financial health
Current ratio Q 2.70 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 276.71
Growth
Revenue growth Q +24.07% (above 0%: growing)
Operating income growth Q +1,633.46% (above 0%: growing)
EPS, this year +480.07% (at or above 15%: strong)
EPS, next year A +22.94% (at or above 15%: strong)
Revenue, next year A +18.93% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +118.16% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.9×, against a ten-year median of 3.7×; over the ten years it ranged from 0.2× in 2017 to 27.0× in 2021.
P/S against its own 10 years 52.80%
10-year low 10-year high
P/B against its own 10 years 53.80%
10-year low 10-year high
EV/Sales against its own 10 years 53.45%
10-year low 10-year high
EV/FCF against its own 10 years 20.55%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,026 2,160 2,317 2,721
Receivables 816 813 880 888
Inventory 92 158 115 170
Other — — — —
3,073 3,234 3,402 3,952
2023 2024 2025 Q'26
Payables 385 274 159 349
ST’ Debt — — — —
Other — — — —
1,276 1,233 1,238 1,462

Compound Annual Growth %

10y 5y 3y
Sales 30.94% 21.65% 14.86%
Cash Flow 0.00% 26.69% 244.85%
Earnings 0.00% 0.00% 0.00%
Book Value 47.80% 14.89% 0.14%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.55 Actual 1.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.28 0.53 Beat by 0.25
Q1 FY26 0.34 0.57 Beat by 0.23
Q2 FY26 0.61 1.18 Beat by 0.57
Q3 FY26 0.55 1.15 Beat by 0.60
Q4 FY26 0.80 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.57 1.08 1.20 — —
’25 (0.19) 0.07 0.16 0.53 0.59
’24 (0.35) (0.24) (0.06) (0.24) (0.89)
’23 (1.38) (0.76) (2.33) (0.55) (5.01)
’22 (0.19) (0.82) (0.88) (1.70) (3.62)
’21 0.54 0.52 0.48 0.17 1.71
’20 (0.45) (0.35) 0.09 0.49 (0.14)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,249 1,355 1,502 — —
’25 1,021 1,111 1,211 1,395 4,737
’24 881 968 1,062 1,201 4,113
’23 741 847 912 984 3,485
’22 734 764 761 867 3,127
’21 574 645 680 865 2,765
’20 321 356 452 650 1,778
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 199 285 219 — —
’25 139 110 128 108 484
’24 47 23 69 79 218
’23 (153) 147 246 16 256
’22 102 (112) 14 7 12
’21 96 49 109 (25) 228
’20 46 34 21 47 148
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 196 281 218 — —
’25 137 109 126 107 478
’24 46 23 68 77 213
’23 (208) 129 239 13 173
’22 87 (149) (30) (58) (150)
’21 92 39 95 (37) 188
’20 1 15 9 41 66
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.4% a year for ten years.

Implied
16.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 399 513 743 1,129 1,778 2,765 3,127 3,485 4,113 4,737 5,500 +31.7% 5,634 6,323 7,091 +14.4%
Gross margin, % 30.36 38.97 44.73 43.87 45.45 50.95 46.09 43.70 43.90 43.79 45.34 +13.4 pt
EBT (43) (63) (9) (61) (18) 237 (492) (699) (120) 94 537 n/m
EBT margin, % (10.67) (12.32) (1.26) (5.40) (1.04) 8.56 (15.75) (20.07) (2.92) 1.98 9.76 +12.7 pt
Net income (43) (64) (9) (60) (18) 242 (498) (710) (129) 88 514 n/m
Per share, $
Per share, $ Revenue 84.00 18.11 7.10 9.80 14.34 20.83 22.71 24.61 28.44 32.19 37.00 (10.1%)
Earnings (9.01) (2.24) (0.08) (0.52) (0.14) 1.83 (3.62) (5.01) (0.89) 0.60 3.46 n/m
Cash flow (6.84) 1.32 0.13 0.12 1.20 1.72 0.09 1.81 1.51 3.29 5.46 n/m
Capex (1.81) (0.33) (0.18) (0.73) (0.66) (0.30) (1.17) (0.58) (0.03) (0.04) (0.06) (35.3%)
Free cash flow (8.65) 0.99 (0.04) (0.62) 0.53 1.42 (1.09) 1.22 1.47 3.25 5.39 n/m
Book value 4.08 5.38 2.34 6.06 10.71 20.85 19.22 16.43 17.24 18.06 20.42 +18.0%
Shares, m 5 28 105 115 124 133 138 142 145 147 148 +46.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 124.02 0.00 0.00 0.00 183.88 46.38 30.8
P/S 0.00 2.87 4.32 13.67 23.15 10.95 1.79 3.62 2.61 3.37 4.34 6.6
P/B 0.00 9.68 13.10 22.09 31.00 10.95 2.11 5.42 4.31 6.01 7.87 10.5
EV/Sales 0.00 2.57 4.08 13.30 22.59 10.21 1.21 3.08 2.13 2.91 3.88 6.2
EV/FCF (3.50) 47.03 (688.04) (236.48) 610.32 150.12 (25.23) 61.96 41.09 28.86 26.60 (1.4)
Cash, $m
Cash, $m Operating cash flow (32) 37 14 14 148 228 12 256 218 484 811 n/m
Capex (9) (9) (18) (85) (82) (40) (162) (83) (5) (5) (9) (5.3%)
Free cash flow (41) 28 (4) (71) 66 188 (150) 173 213 478 801 n/m
Balance, $m
Balance, $m Working capital 49 182 239 567 1,177 2,325 1,882 1,797 2,002 2,164 2,490 +52.4%
Net debt (20) (177) (198) (418) (998) (2,056) (1,882) (2,026) (2,160) (2,317) (2,721) +70.0%
Shareholders’ equity 19 152 245 698 1,328 2,767 2,647 2,326 2,493 2,658 3,035 +72.8%
Returns, %
Returns, % ROA (24.05) (23.05) (2.12) (6.19) (0.94) 7.63 (11.73) (16.36) (3.02) 2.02 11.02 +26.1 pt
ROIC 0.00 0.00 (17.70) (14.49) (3.84) 20.68 (43.40) (164.84) (41.01) (1.03) 84.99 (1.0) pt
ROE 24.19 305.74 (4.46) (12.71) (1.73) 11.84 (18.40) (28.54) (5.37) 3.43 18.15 (20.8) pt
People
People Employees 696 817 1,111 1,650 1,925 3,000 3,600 3,150 3,340 3,600 — +20.0%
Revenue/emp, $m 0.57 0.63 0.67 0.68 0.92 0.92 0.87 1.11 1.23 1.32 — +9.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Roku operates a TV streaming platform that connects viewers with entertainment, content providers with audiences, and advertisers with viewers. It was founded in October 2002 and is headquartered in Los Gatos. Anthony Wood is its chief executive officer.

The platform is built around Roku TV OS, software designed for televisions. It powers Roku streaming players and Roku-made TVs, as well as TVs made by manufacturers that license the operating system. Through a broadband connection, viewers can use these devices to access streaming apps and find programs across the platform. Roku also sells projectors, audio equipment and smart home products.

Roku, Inc. vs peers in Entertainment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TKO TKO Group Holdings, Inc. $35.8B 30.1× 40.7× +21.45% (above 0%: growing) +660.14% (above 0%: growing) −6.77% (below 0%: shrinking) 64.05% 27.76% Compare
FWONA Liberty Media Corporation - Liberty Formula One Series A $27.0B 97.2× — +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
FOX Fox Corporation $26.9B 12.4× 10.6× +22.28% (above 0%: growing) +72.21% (above 0%: growing) +314.96% (above 0%: growing) 48.30% 33.32% Compare
FOXA Fox Corporation $26.8B 13.9× 10.6× +22.28% (above 0%: growing) +72.21% (above 0%: growing) +314.96% (above 0%: growing) 48.30% 33.32% Compare
FWONK Liberty Media Corporation - Liberty Formula One Series C $26.5B 102× 89.9× +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
ROKU Roku, Inc. $23.9B 46.4× 52.9× +24.07% (above 0%: growing) +625.53% (above 0%: growing) +72.39% (above 0%: growing) 43.18% 10.92%
WMG Warner Music Group Corp. $16.7B 24.4× 21.4× +10.36% (above 0%: growing) n/m +1,528.57% (above 0%: growing) 45.82% 16.36% Compare
NWS News Corporation $14.8B 25.8× — +6.39% (above 0%: growing) +45.00% (above 0%: growing) +160.00% (above 0%: growing) 56.69% 0.00% Compare
NWSA News Corporation $14.8B 21.5× 22.7× +6.39% (above 0%: growing) +98.70% (above 0%: growing) +160.00% (above 0%: growing) 56.69% 12.14% Compare
Median of peers $26.7B 25.1× 22.0× +21.87% +72.21% +160.00% 48.30% 14.25%

All 48 Entertainment stocks →

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Wells Fargo Nov 1, 2026 Downgrade Outperform → Hold 167.00 → 165.00
Wedbush Nov 1, 2026 Reiterated Hold 155.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 76.63%
Held by the ten largest 35.66%
Holder Shares Stake Change
BlackRock 13.38m 9.02% +5.96m
Vanguard 12.88m 8.68% −492.81k
Fidelity (FMR) 5.31m 3.58% −11.70m
Pentwater Capital Management LP 4.33m 2.91% +4.33m
State Street 4.12m 2.77% +1.85m
Balyasny Asset Management L.P. 3.15m 2.12% +2.92m
Geode Capital Management 3.06m 2.06% +283.65k
Goldman Sachs 2.65m 1.78% +1.69m
Schroders 2.07m 1.40% −235.63k
UBS 1.98m 1.33% +1.18m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 24 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 26.57m 47.14m 32.68
2024 27.70m 57.80m 22.39
2023 20.22m 46.50m 27.61
2022 20.99m (77.93m) 12.26
2021 18.13m (51.68m) 68.73

Ownership

Directors and executive officers, together 56.20% of the votes
Anthony Wood 55.50% of the votes
Entities Affiliated with FMR LLC 4.60% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Roku, Inc. (ROKU) Latest News

6 Nov

Impact 5 · · foxbusiness.com
Impact 5 · · TechCrunch
Impact 5 · · PR Newswire
Impact 3 · · TIKR

3 Nov

Impact 4 · · InvestorsHub
Impact 4 · · InvestorsHub
Impact 3 · · Investing.com
Impact 3 · · Proactive Investors
Impact 3 · · mediapost.com

2 Nov

Impact 4 · · Investing.com
Impact 4 · · Business Wire
Impact 3 · · Associated Press
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · The Motley Fool
Impact 3 · · StockStory
Impact 3 · · MarketBeat

1 Nov

Impact 3 · · Barchart

30 Oct

Impact 3 · · TIKR

28 Oct

Impact 3 · · Zacks

27 Oct

Impact 4 · · 24/7 Wall St.

26 Oct

Impact 4 · · beet.tv
Impact 4 · · TIKR
Impact 3 · · Zacks

23 Oct

Impact 4 · · TIKR

22 Oct

Impact 4 · · Zacks
Impact 4 · · beet.tv

21 Oct

Impact 4 · · Zacks

20 Oct

Impact 3 · · Business Wire

19 Oct

Impact 4 · · beet.tv

ROKU metrics, ten years each

stockrow.com/ROKU · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com