A Business at a Glance
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ROKU, INC
ROKU
$21.3B
Mkt Cap
$141.97
+0.21%
ROKU, INC (ROKU) has a current P/E ratio of 240.6.
ROKU, INC (ROKU) has a 5-year average return on invested capital (ROIC) of -3.3%. This is below average and may indicate limited pricing power.
ROKU, INC (ROKU) has a market capitalization of $21.4B. It is classified as a large-cap stock.
ROKU, INC (ROKU) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.70%.
ROKU, INC (ROKU) operates in the Cable & Other Pay Television Services industry, within the Communication Services sector.
ROKU, INC (ROKU) reported annual revenue of $4.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
ROKU, INC (ROKU) has a net profit margin of 1.9%. This is a modest margin.
ROKU, INC (ROKU) generated $478 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Roku, Inc. (“Roku,” the “Company,” “we,” or “us”) is the leading TV streaming platform in the United States, Canada, and Mexico by hours streamed. We pioneered TV streaming and believe that all TV will be streamed. The shift of the TV ecosystem to streaming continues and is expanding TV’s capabilities for viewers, content partners, advertisers, and other industry participants. Nearly every major media company not only has a streaming service, but has also expanded beyond pure subscription streaming models to ad-supported streaming options. Advertisers use TV streaming to reach viewers who are increasingly unreachable on traditional TV, while also benefiting from the digital advertising capabilities that TV streaming platforms can deliver. Our Mission Our mission is to be the global TV streaming platform that connects and benefits the entire TV ecosystem of viewers, content partners, and advertisers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.0B | 4.7B | 4.1B | 3.5B | 3.1B | 2.8B |
| Net Income | 201M | 88M | -129M | -710M | -498M | 242M |
| EPS | $1.35 | $0.59 | $-0.89 | $-5.01 | $-3.62 | $1.71 |
| Free Cash Flow | 538M | 478M | 213M | 173M | -150M | 188M |
| ROIC | 32.3% | 3.4% | -5.4% | -28.5% | -18.1% | 31.9% |
| Gross Margin | 44.2% | 43.8% | 43.9% | 43.7% | 46.1% | 51.0% |
| Debt/Equity | 0.00 | 0.20 | 0.24 | 0.28 | 0.27 | 0.19 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 104M | -5.6M | -218M | -792M | -531M | 235M |
| Operating Margin | 2.1% | -0.1% | -5.3% | -22.7% | -17.0% | 8.5% |
| ROE | 7.5% | 3.4% | -5.4% | -28.5% | -18.4% | 11.8% |
| Shares Outstanding | 151M | 150M | 145M | 142M | 138M | 142M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 320M | 399M | 513M | 743M | 1.1B | 1.8B | 2.8B | 3.1B | 3.5B | 4.1B | 4.7B | 5.0B |
| Gross Margin | 28.1% | 30.4% | 39.0% | 44.7% | 43.9% | 45.4% | 51.0% | 46.1% | 43.7% | 43.9% | 43.8% | 44.2% |
| R&D | 50M | 76M | 108M | 171M | 265M | 356M | 462M | 789M | 878M | 720M | 729M | 734M |
| SG&A | 32M | 35M | 47M | 72M | 116M | 173M | 256M | 345M | 403M | 371M | 386M | 394M |
| EBIT | -38M | -43M | -20M | -13M | -65M | -20M | 235M | -531M | -792M | -218M | -5.6M | 104M |
| Op. Margin | -11.7% | -10.9% | -3.8% | -1.8% | -5.8% | -1.1% | 8.5% | -17.0% | -22.7% | -5.3% | -0.1% | 2.1% |
| Net Income | -41M | -43M | -64M | -8.9M | -60M | -18M | 242M | -498M | -710M | -129M | 88M | 201M |
| Net Margin | -12.7% | -10.7% | -12.4% | -1.2% | -5.3% | -1.0% | 8.8% | -15.9% | -20.4% | -3.1% | 1.9% | 4.1% |
| Non-Recurring | -137K | 291K | -54K | -8K | 0 | 0 | 0 | 38M | 356M | 31M | 3.1M | 3.1M |
| Returns on Capital | ||||||||||||
| ROIC | N/A | -24.2% | -7.1% | -4.5% | -11.6% | -1.6% | 31.9% | -18.1% | -28.5% | -5.4% | 3.4% | 32.3% |
| ROE | 28.5% | 24.2% | 305.7% | -4.5% | -12.7% | -1.7% | 11.8% | -18.4% | -28.5% | -5.4% | 3.4% | 7.5% |
| ROA | N/A | -48.1% | -23.1% | -2.1% | -6.2% | -0.9% | 7.6% | -11.7% | -16.4% | -3.0% | 2.0% | 4.6% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | -33M | -32M | 37M | 14M | 14M | 148M | 228M | 12M | 256M | 218M | 484M | 544M |
| Free Cash Flow | -38M | -41M | 28M | -4.4M | -63M | 66M | 188M | -150M | 173M | 213M | 478M | 538M |
| Owner Earnings | -40M | -48M | 21M | -32M | -84M | -7.6M | 15M | -379M | -168M | -215M | 84M | 159M |
| CapEx | 5.0M | 8.6M | 9.2M | 18M | 77M | 82M | 40M | 162M | 83M | 5.1M | 5.3M | 6.5M |
| Maint. CapEx | 2.6M | 7.8M | 5.2M | 7.8M | 13M | 22M | 25M | 31M | 53M | 49M | 46M | 48M |
| Growth CapEx | 2.5M | 782K | 4.0M | 11M | 64M | 61M | 15M | 131M | 29M | 0 | 0 | 0 |
| D&A | 2.6M | 7.8M | 5.2M | 7.8M | 13M | 22M | 25M | 31M | 53M | 49M | 46M | 48M |
| CapEx/OCF | N/A | N/A | 24.7% | 131.6% | 563.1% | 55.6% | 17.6% | 1370.9% | 32.3% | 2.3% | 1.1% | 1.2% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 671K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 150M | 150M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.9% | 0.7% |
| Stock-Based Comp | 5.3M | 8.2M | 11M | 38M | 85M | 134M | 188M | 360M | 370M | 385M | 354M | 337M |
| Debt Repayment | 2.6M | 15M | 40M | 0 | 0 | 74M | 5.0M | 10M | 80M | 0 | 0 | 0 |
| Balance Sheet | ||||||||||||
| Net Debt | N/A | -4.6M | -177M | -198M | -96M | -654M | -1.6B | -1.3B | -1.4B | -1.6B | -1.8B | -2.4B |
| Cash & Equiv. | 76M | 35M | 177M | 156M | 515M | 1.1B | 2.1B | 2.0B | 2.0B | 2.2B | 1.6B | 2.4B |
| Long-Term Debt | N/A | 15M | 0 | 0 | 95M | 90M | 80M | 0 | 0 | N/A | N/A | N/A |
| Debt/Equity | -0.02 | -0.15 | 0.00 | 0.00 | 0.60 | 0.33 | 0.19 | 0.27 | 0.28 | 0.24 | 0.20 | 0.00 |
| Interest Coverage | -137.6 | -183.7 | -17.1 | -27.0 | -150.9 | -5.8 | 91.2 | -102.9 | -1085.4 | -530.8 | -3.0 | 49.5 |
| Equity | -160M | -194M | 152M | 245M | 698M | 1.3B | 2.8B | 2.6B | 2.3B | 2.5B | 2.7B | 2.7B |
| Total Assets | N/A | 179M | 372M | 465M | 1.5B | 2.3B | 4.1B | 4.4B | 4.3B | 4.3B | 4.4B | 4.4B |
| Total Liabilities | 2.8M | 160M | 220M | 220M | 772M | 943M | 1.3B | 1.8B | 1.9B | 1.8B | 1.8B | 1.7B |
| Intangibles | N/A | N/A | 2.0M | 1.5M | 77M | 62M | 84M | 59M | 42M | 28M | 50M | 46M |
| Retained Earnings | N/A | -220M | -283M | -254M | -314M | -332M | -90M | -588M | -1.3B | -1.4B | -1.5B | -1.5B |
| Working Capital | -2.6M | 49M | 182M | 239M | 567M | 1.2B | 2.3B | 1.9B | 1.8B | 2.0B | 2.2B | 2.2B |
| Current Assets | -1.2M | 165M | 345M | 433M | 926M | 1.7B | 3.1B | 3.0B | 3.1B | 3.2B | 3.4B | 3.4B |
| Current Liabilities | 1.4M | 117M | 163M | 194M | 358M | 520M | 730M | 1.1B | 1.3B | 1.2B | 1.2B | 1.2B |
| Per Share Data | ||||||||||||
| EPS | -10.08 | -9.01 | -0.64 | -0.08 | -0.52 | -0.14 | 1.71 | -3.62 | -5.01 | -0.89 | 0.59 | 1.35 |
| Owner EPS | -10.04 | -10.22 | 0.21 | -0.28 | -0.73 | -0.06 | 0.11 | -2.76 | -1.18 | -1.48 | 0.56 | 1.05 |
| Book Value | -39.65 | -40.84 | 1.54 | 2.21 | 6.06 | 10.62 | 19.52 | 19.24 | 16.43 | 17.15 | 17.75 | 17.69 |
| Cash Flow/Share | -8.09 | -6.84 | 0.38 | 0.13 | 0.12 | 1.19 | 1.61 | 0.09 | 1.81 | 1.50 | 3.23 | 1.65 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 4.0M | 4.7M | 99.2M | 110.7M | 115.3M | 125.0M | 141.7M | 137.6M | 141.6M | 145.4M | 149.8M | 151.0M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 135.3 | N/A | N/A | N/A | 190.0 | 105.3 |
| P/FCF | N/A | N/A | 187.9 | N/A | N/A | 646.8 | 174.4 | N/A | 76.9 | 52.6 | 35.1 | 39.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 121.6 | N/A | N/A | N/A | N/A | 183.5 |
| Price/Book | N/A | N/A | 38.4 | 13.6 | 23.0 | 32.1 | 11.9 | 2.0 | 5.7 | 4.5 | 6.3 | 8.0 |
| Price/Sales | N/A | N/A | 7.3 | 6.8 | 10.0 | 11.3 | 17.9 | 4.2 | 2.8 | 2.4 | 2.7 | 4.3 |
| FCF Yield | N/A | N/A | 0.5% | -0.1% | -0.4% | 0.2% | 0.6% | -2.8% | 1.3% | 1.9% | 2.9% | 2.5% |
| Market Cap | 0 | N/A | 5.9B | 3.3B | 16.1B | 42.6B | 32.8B | 5.3B | 13.3B | 11.2B | 16.8B | 21.4B |
| Avg. Price | 0.00 | N/A | 33.88 | 45.62 | 98.17 | 160.74 | 348.75 | 95.29 | 69.73 | 69.06 | 85.74 | 141.97 |
| Year-End Price | 0.00 | N/A | 53.19 | 30.16 | 139.52 | 340.41 | 231.32 | 38.80 | 94.10 | 77.03 | 112.08 | 141.97 |
ROKU, INC passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 38.8x vs a median of 52.6x. The company's 5-year average gross margin is 45.7%. Total shareholder yield (buybacks) is 0.7%. At current prices, the estimated annualized return to fair value is +52.4%.
ROKU, INC (ROKU) has a debt-to-equity ratio of 0.20. This indicates a conservatively financed balance sheet.
ROKU, INC (ROKU) reported earnings per share (EPS) of $0.59 in its most recent fiscal year.
ROKU, INC (ROKU) has a return on equity (ROE) of 3.4%. This indicates moderate shareholder returns.
ROKU, INC (ROKU) has a 5-year average gross margin of 45.7%. This indicates decent pricing power.
The Ledger Terminal provides 11 years of financial data for ROKU, INC (ROKU), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ROKU, INC (ROKU) has a book value per share of $17.75, based on its most recent annual SEC filing.