Roblox Corp key statistics and ratios

In fiscal 2025, Roblox Corp had an operating margin of -25.2%, debt equal to 301.9% of equity and a current ratio of 0.96. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Roblox Corp: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Gross margin	75.9%	74.0%	74.1%	75.4%	76.8%	77.8%	78.1%	79.3%
Operating margin	−15.0%	−28.8%	−25.8%	−41.5%	−45.0%	−29.5%	−25.2%	−19.8%
Net margin	−14.0%	−27.4%	−25.6%	−41.5%	−41.2%	−26.0%	−21.8%	−16.5%
Free-cash-flow margin	3.1%	45.5%	29.5%	−2.6%	4.9%	17.8%	27.7%	26.6%
Return on assets	—	−13.7%	−15.3%	−18.6%	−20.0%	−14.0%	−12.7%	−9.9%
Asset turnover	—	0.50	0.60	0.45	0.48	0.54	0.58	0.60
Current ratio	—	1.16	1.73	1.55	1.07	1.02	0.96	0.80
Debt to equity	—	—	227.4%	421.7%	>999%	547.8%	301.9%	—
Interest cover (operating income ÷ interest)	—	—	n/m	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	21.1%	21.8%	27.8%	39.3%	44.8%	40.1%	32.1%	28.6%
Capital spending as % of revenue	16.4%	11.3%	4.9%	19.2%	11.5%	5.0%	9.0%	6.5%

US$ thousands unless shown otherwise. Fiscal quarters.

Roblox Corp: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Gross margin	77.9%	78.3%	78.2%	78.2%	77.7%	79.6%	80.1%	79.8%
Operating margin	−24.7%	−24.6%	−29.8%	−21.8%	−25.4%	−20.4%	−15.6%	−18.0%
Net margin	−22.2%	−20.8%	−25.7%	−18.8%	−22.3%	−17.1%	−12.5%	−14.4%
Free-cash-flow margin	12.2%	41.3%	16.3%	32.6%	21.9%	41.3%	20.1%	23.3%
Current ratio	1.02	1.02	0.97	0.96	0.96	0.89	0.82	0.80
Debt to equity	454.5%	324.0%	285.1%	247.2%	255.8%	233.3%	663.8%	—
R&D as % of revenue	35.9%	36.1%	35.6%	29.3%	29.0%	29.3%	28.6%	27.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 5 checks passed · September 30, 2026

What it owns · $10.0bn

Short-term assets $4.7bnLonger-term assets $5.3bn

What it owes, and who funded it · $10.1bn

Short-term liabilities $5.9bnLonger-term liabilities $4.1bnShareholders' equity $-1m

Short-term assets cover short-term liabilities $4.7bn of assets due within a year against $5.9bn of liabilities due within a year.
Short-term assets cover long-term liabilities $4.7bn short-term assets against $4.1bn of longer-dated liabilities.
More cash than debt $1.1bn of cash against $1.0bn of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $1.9bn of operating cash flow against $1.0bn of debt.
Operating profit covers interest at least five times over Operating income of −$1.2bn against $41m of interest.

From Roblox Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

65 /100

Moderate moat

How hard Roblox's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 20 / 20

Cash operating profit has been a median 40.3% of total assets over 5 years.
Pricing power 20 / 20

Gross margin has been a median 77.0%, moving by 1.7 percentage points (standard deviation) across 6 years.
Durability 10 / 20

Operating margin has been a median -30.0%; its worst year was -45.9%.
Cash conversion 20 / 20

Free cash flow was positive in 6 of 6 years, at a median 22.0% of revenue.
Discipline 0 / 20

The diluted share count rose 74.4% over five years; stock-based pay has been a median 24.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (70 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Roblox Corp's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Roblox Corp.