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Roku, Inc (ROKU) stock

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NASDAQ: ROKU Nasdaq Movies & Entertainment Next results ~February 11, 2027

C+ Fundamentals grade

Roku, Inc is a US-listed company in the movies & entertainment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$53

Cash-flow model

Base case. Range ~$45–$64 across our lower- and higher-growth cases (14.4%–24.4% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 66% below it.

Price used: $155.52, November 2, 2026

Roku, Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 177 sales by directors and officers, last 12 monthsInsider trades
  • Funds420 adding, 349 cuttingOf 100 active managers that changed their stake, 53 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Roku files

10-Q filed November 2: Roku

Model value +3.9%

Roku's revenue for the twelve months to September 2026 reached $5.50bn, a rise of 21.1% on the year, an acceleration from the 18.5% growth recorded a quarter earlier. Among the 25 movies and entertainment companies we cover, that pace ranks fifth. Profitability also improved: the free-cash-flow margin climbed to 14.6% from 9.9% a year earlier, while the operating margin widened to 7.8% from -2.4%. Set against this, the diluted share count grew 3.2% year on year, diluting existing holders. Taken together, these shifts lift the fundamentals grade from C to C+. Our model value edges up from $51.28 to $53.28 a share, still well below the current share price of $156. The rating remains Sell.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Roku stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $5.21bn, up 18.5% on a year earlier, faster than 16.8% a quarter earlier. Free-cash-flow margin rose to 13.6% from 8.9% a year earlier. Operating margin widened to 5.2% from -3.5%. The diluted share count is up 4.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $49.02 a share, against a share price of $157.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 11, 2027 (estimated)

Roku, Inc's trailing-twelve-month revenue grew 21.1% year on year, with a free-cash-flow margin of 14.6%. Where it stands out: net margin of 9.3% ranks 4 of 25 movies & entertainment companies we cover. Where it lags: stock pay as % of revenue of 5.8% ranks 22 of 25 movies & entertainment companies we cover.

Our discounted-cash-flow model values the business at ~$53 per share in the base case (~$45–$64 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 109% in the quarter to 2026-09-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 21.1% over the last 12 months, against a median of 8.5% for movies & entertainment companies we cover.
  • Margins widening. Operating margin is up 10.2 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $2.5bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 7.8% over 90 days.

Things to watch

  • Priced above our value. The share price of $155.52 is 66% above our value per share of $53.
  • Share dilution. Diluted shares rose 3.2% in a year.
  • High earnings multiple. The shares trade at 46 times the last 12 months' earnings, so expectations are demanding.
  • Insiders selling. 9 insiders sold $141M of stock over the past 365 days and none bought (100% under pre-set trading plans).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 5.8% ranks 22 of 25 movies & entertainment companies we cover (median 1.5%).
  • Below peers: days sales outstanding. Days sales outstanding of 59 days ranks 13 of 17 movies & entertainment companies we cover (median 35 days).

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
$1.15 against an average estimate of $0.55: beat by 108.9%
Revenue
$1.50bn, up 24.1% on a year earlier
Next report
November 2, 2026; average EPS estimate $0.78

Roku's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.3%
  • 1 week-1.1%
  • 1 month+2.1%
  • This year+43.3%
  • 1 year+46.5%
  • 5 years-50.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.5B
Operating margin
7.8%
Net margin
9.3%
EPS (TTM, diluted)
$3.36

Growth

Revenue growth
+21.1%
Change in growth rate
+2.5 pts
Share count change
+3.2%

Cash

Free cash flow (TTM)
$801M
FCF margin
14.6%
Stock pay % of revenue
5.8%

Earnings

Last results
November 2, 2026
Next results (est.)
February 11, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Shareholder vote
  3. Insider trade
  4. Announcement
  5. Insider trade
  6. Insider trade
  7. Announcement
  8. Insider trade
  9. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Roku, Inc valuation models and calculator

What the price is pricing in

The share price implies about 44.9% a year of cash-flow growth for five years.That is faster than the 14.8% a year revenue growth Roku has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in44.9%
  • Last 12 months21.1%
  • 3 years a year17.8%
  • 5 years a year14.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($157.57, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$53
Price used
$157.57close November 3, 2026
Implied change
▼ 66%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Roku, Inc's free cash flow after stock-based pay with after-tax interest added back ($133M, FY2026 Q3 TTM), growing 14.6% and 17.1% in the next two years (forecasts, guidance and its record), then back to 19.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$45–~$64 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Roku, Inc's free cash flow after stock-based pay ( $133M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Roku, Inc as an operating company, with every model that fits that kind of business. Cost of equity 10.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.27 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$53 ~$45–$64 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$80 ~$62–$110 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$62 ~$53–$80 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Roku, Inc with Movies & Entertainment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −22%
  • Revenue growth 5 points higher ▲ +28%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▲ +43%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $30$35$41$49$59$72
8.5% $27$31$35$41$48$57
10% $26$28$32$36$41$49

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022202320242025Now
Share price$51.78$30.64$133.90$332.02$228.20$40.70$91.66$74.34$108.49$155.52
Market value$1.5bn$3.2bn$15.4bn$41.2bn$32.3bn$5.6bn$13.0bn$10.8bn$16.4bn$23.8bn
+ Net debt (− = net cash)−$177m−$156m−$416m−$998m−$2.1bn−$1.9bn−$2.0bn−$2.2bn−$1.6bn−$2.5bn
Enterprise value$1.3bn$3.0bn$15.0bn$40.2bn$30.3bn$3.7bn$11.0bn$8.6bn$14.8bn$21.3bn
Multiples
Price / sales 2.9x4.3x13.7x23.1x11.7x1.8x3.7x2.6x3.5x4.3x
Price / earnings ————133.4x———185.3x46.3x
Price / free cash flow 52.2x——n/m171.9x—74.9x50.5x34.2x29.7x
EV / EBITDA ———n/m116.2x———n/m44.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

45 /100

Moderate moat

How hard Roku's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 14 / 20

    Cash operating profit has been a median 10.9% of total assets over 9 years.

  • Pricing power 14 / 20

    Gross margin has been a median 44.6%, moving by 3.7 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -4.2%; its worst year was -27.9%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 6 of 9 years, at a median 3.0% of revenue.

  • Discipline 5 / 20

    The diluted share count rose 13.0% over five years; stock-based pay has been a median 7.9% 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 (50 before it).

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

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.99 +395% $5.6bn +19%
Next $3.97 +33% $6.3bn +12%

Next year's EPS estimate has moved +7.8% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +22.7% on 90 days ago. In the last 30 days, 0 analysts raised Roku, Inc's forecast and 0 cut it.

Consensus EPS forecast Roku, Inc, last 90 days
$2.00 $2.50 $3.00 $3.50 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.44 Current fiscal year, 60 days ago: $2.99 Current fiscal year, 30 days ago: $2.99 Current fiscal year, 7 days ago: $2.99 Current fiscal year, Now: $2.99 $2.99 Next fiscal year, 90 days ago: $3.69 Next fiscal year, 60 days ago: $3.92 Next fiscal year, 30 days ago: $3.92 Next fiscal year, 7 days ago: $3.95 Next fiscal year, Now: $3.97 $3.97

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.44$3.69
60 days ago $2.99$3.92
30 days ago $2.99$3.92
7 days ago $2.99$3.95
Now $2.99$3.97

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.55 $1.15 +108.9%
Jun 2026 $0.56 $1.20 +113.4%
Mar 2026 $0.35 $0.57 +64.4%
Dec 2025 $0.28 $0.53 +92.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026

No numeric guidance in Roku, Inc's latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Roku, Inc's revenue by +14.6% next year and +17.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+11.9%, weight 64%) and the company's own record (+19.4%, weight 36%) . How the weights are set.

Analyst recommendations

27 analysts, Nov 2026
Buy726%
Hold2074%
Sell00%

Monthly trend

  1. Nov 202662027
  2. Oct 202662027
  3. Sep 202662027

Counts of recommendations published by analysts covering Roku, Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.4%
of tradable shares
Days to cover
6.06
at average volume
Short interest, 1 month
+29%
to October 15, 2026
Held by institutions
88%
of shares
Held by insiders
0.6%
of shares
Employees
3,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +46.5%

$106.13 on October 31, 2025 to $155.52

ThenNowEffect
Revenue (last 12 months) $4.4bn $5.2bn +18.5%
P/S multiple 3.5x 4.6x +28.8%
Share count 147m 153m −4.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +83.5%

$84.75 on November 3, 2023 to $155.52

ThenNowEffect
Revenue (last 12 months) $3.2bn $5.2bn +61.9%
P/S multiple 3.7x 4.6x +23.6%
Share count 140m 153m −8.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ROKU−31%−82%+125%−19%+46%+43%
Industry peers (median)−3%−42%+4%+24%+5%+10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ROKU50%25%58%50%75%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ROKU−58%−83%−42%−48%−44%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 28, 2017: 92% from July 26, 2021 to December 28, 2022. Getting back needed a 1136% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$82.93 – $160.06
From 52-week high
−2.8%
vs 50-day average
+0.3%
vs 200-day average
+21.5%
Volatility (1 year)
40%
Beta vs S&P 500
1.34

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 6 down
typical move ±10.8%
After a week
5 up, 6 down
typical move ±8.3%
After a month
6 up, 5 down
typical move ±11.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +4.2% +0.5% +4.8% +5.9%
April 30, 2026 +9.7% +1.3% +12.5% +14.6%
February 12, 2026 +2.5% −1.5% +1.3% +8.3%
October 30, 2025 +7.6% −0.8% +6.3% −2.1%
July 31, 2025 −13.1% −2.0% −9.7% +5.0%
May 1, 2025 −9.7% +2.2% −10.0% +7.1%
February 13, 2025 +16.9% +1.1% +4.8% −17.8%
October 30, 2024 −16.1% −2.3% −5.4% −9.7%
August 1, 2024 −8.7% −3.3% −4.5% +16.4%
April 25, 2024 −8.9% +0.6% −3.0% −8.2%
February 15, 2024 −21.1% +0.2% −29.3% −30.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Roku, Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Roku, Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Roku, Inc
$3B $4B $5B $6B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3.5B Revenue (TTM), FY24 Q1: $3.6B Revenue (TTM), FY24 Q2: $3.7B Revenue (TTM), FY24 Q3: $3.9B Revenue (TTM), FY24 Q4: $4.1B Revenue (TTM), FY25 Q1: $4.3B Revenue (TTM), FY25 Q2: $4.4B Revenue (TTM), FY25 Q3: $4.5B Revenue (TTM), FY25 Q4: $4.7B Revenue (TTM), FY26 Q1: $5B Revenue (TTM), FY26 Q2: $5.2B Revenue (TTM), FY26 Q3: $5.5B $5.5B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3.5B
FY24 Q1 $3.6B
FY24 Q2 $3.7B
FY24 Q3 $3.9B
FY24 Q4 $4.1B
FY25 Q1 $4.3B
FY25 Q2 $4.4B
FY25 Q3 $4.5B
FY25 Q4 $4.7B
FY26 Q1 $5B
FY26 Q2 $5.2B
FY26 Q3 $5.5B
Revenue growth, TTM YoY Roku, Inc
10% 15% 20% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 11.5% Revenue growth, TTM YoY, FY24 Q1: 15.7% Revenue growth, TTM YoY, FY24 Q2: 16.5% Revenue growth, TTM YoY, FY24 Q3: 15.7% Revenue growth, TTM YoY, FY24 Q4: 18.0% Revenue growth, TTM YoY, FY25 Q1: 17.3% Revenue growth, TTM YoY, FY25 Q2: 17.3% Revenue growth, TTM YoY, FY25 Q3: 16.6% Revenue growth, TTM YoY, FY25 Q4: 15.2% Revenue growth, TTM YoY, FY26 Q1: 16.8% Revenue growth, TTM YoY, FY26 Q2: 18.5% Revenue growth, TTM YoY, FY26 Q3: 21.1% 21.1%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 11.5%
FY24 Q1 15.7%
FY24 Q2 16.5%
FY24 Q3 15.7%
FY24 Q4 18.0%
FY25 Q1 17.3%
FY25 Q2 17.3%
FY25 Q3 16.6%
FY25 Q4 15.2%
FY26 Q1 16.8%
FY26 Q2 18.5%
FY26 Q3 21.1%
Operating margin (TTM) Roku, Inc
-30% -20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -22.7% Operating margin (TTM), FY24 Q1: -18.0% Operating margin (TTM), FY24 Q2: -15.9% Operating margin (TTM), FY24 Q3: -7.3% Operating margin (TTM), FY24 Q4: -5.3% Operating margin (TTM), FY25 Q1: -4.8% Operating margin (TTM), FY25 Q2: -3.5% Operating margin (TTM), FY25 Q3: -2.4% Operating margin (TTM), FY25 Q4: -0.1% Operating margin (TTM), FY26 Q1: 2.1% Operating margin (TTM), FY26 Q2: 5.2% Operating margin (TTM), FY26 Q3: 7.8% 7.8%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -22.7%
FY24 Q1 -18.0%
FY24 Q2 -15.9%
FY24 Q3 -7.3%
FY24 Q4 -5.3%
FY25 Q1 -4.8%
FY25 Q2 -3.5%
FY25 Q3 -2.4%
FY25 Q4 -0.1%
FY26 Q1 2.1%
FY26 Q2 5.2%
FY26 Q3 7.8%
FCF margin (TTM) Roku, Inc
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 5.0% FCF margin (TTM), FY24 Q1: 11.8% FCF margin (TTM), FY24 Q2: 8.6% FCF margin (TTM), FY24 Q3: 3.8% FCF margin (TTM), FY24 Q4: 5.2% FCF margin (TTM), FY25 Q1: 7.1% FCF margin (TTM), FY25 Q2: 8.9% FCF margin (TTM), FY25 Q3: 9.9% FCF margin (TTM), FY25 Q4: 10.1% FCF margin (TTM), FY26 Q1: 10.8% FCF margin (TTM), FY26 Q2: 13.6% FCF margin (TTM), FY26 Q3: 14.6% 14.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 5.0%
FY24 Q1 11.8%
FY24 Q2 8.6%
FY24 Q3 3.8%
FY24 Q4 5.2%
FY25 Q1 7.1%
FY25 Q2 8.9%
FY25 Q3 9.9%
FY25 Q4 10.1%
FY26 Q1 10.8%
FY26 Q2 13.6%
FY26 Q3 14.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 320 399 513 743 1,129 1,778 2,765 3,127 3,485 4,113 4,737 5,500
Gross profit 90 121 200 332 495 808 1,409 1,441 1,523 1,806 2,074 2,494
EBITDA −35 −38 −14 −5 −52 1 261 −500 −739 −170 40 474
Operating income −38 −43 −20 −13 −65 −20 235 −531 −792 −218 −6 428
Net income −41 −43 −64 −9 −60 −18 242 −498 −710 −129 88 514
Diluted EPS −$10.08 −$9.01 −$2.24 −$0.08 −$0.52 −$0.14 $1.71 −$3.62 −$5.01 −$0.89 $0.59 $3.36
Growth (year on year)
Revenue — +24.6% +28.6% +44.8% +52.0% +57.5% +55.5% +13.1% +11.5% +18.0% +15.2% +21.1%
EBITDA — — — — — — — −291.9% — — — —
Operating income — — — — — — — −325.8% — — — —
Net income — — — — — — — −305.5% — — — —
Diluted EPS — — — — — — — −311.7% — — — —
Margins
Gross margin 28.1% 30.4% 39.0% 44.7% 43.9% 45.4% 51.0% 46.1% 43.7% 43.9% 43.8% 45.3%
EBITDA margin −10.9% −9.5% −2.8% −0.7% −4.6% 0.1% 9.4% −16.0% −21.2% −4.1% 0.8% 8.6%
Operating margin −11.7% −10.9% −3.8% −1.8% −5.8% −1.1% 8.5% −17.0% −22.7% −5.3% −0.1% 7.8%
Net margin −12.7% −10.7% −12.4% −1.2% −5.3% −1.0% 8.8% −15.9% −20.4% −3.1% 1.9% 9.3%
Free-cash-flow margin −11.8% −10.3% 5.5% −0.6% −5.6% 3.7% 6.8% −4.8% 5.0% 5.2% 10.1% 14.6%
Cash flow
Cash from operations −33 −32 37 14 14 148 228 12 256 218 484 811
Capital spending 5 9 9 18 77 82 40 162 83 5 5 9
Free cash flow −38 −41 28 −4 −63 66 188 −150 173 213 478 801
Stock-based pay 5 8 11 38 85 134 188 360 370 385 354 319
Free cash flow after stock pay −43 −49 17 −42 −149 −68 1 −510 −197 −172 124 482
Balance sheet
Cash — — 177 156 515 1,093 2,146 1,962 2,026 2,160 1,587 2,519
Total debt — 15 0 0 100 95 90 80 — 0 0 0
Net debt (negative = net cash) — — −177 −156 −416 −998 −2,056 −1,882 −2,026 −2,160 −1,587 −2,519
Diluted shares 4m 5m 28m 105m 115m 124m 142m 138m 142m 145m 151m 153m
Returned to shareholders
Buybacks — — — — — — — — 0 0 150 263
Total returned — — — — — — — — 0 0 150 263

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · September 30, 2026
What it owns · $4.9bn
Short-term assets $4.0bnLonger-term assets $973m
What it owes, and who funded it · $4.9bn
Short-term liabilities $1.5bnLonger-term liabilities $427mShareholders' equity $3.0bn
  • Short-term assets cover short-term liabilities $4.0bn of assets due within a year against $1.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $4.0bn short-term assets against $427m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • 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 Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $428m against $2m of interest.

From Roku, Inc'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.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$263M
Returned to shareholders
33%
of free cash flow
Buybacks, last 3 fiscal years
$150M
Diluted share count
+3.2%
year over year
Total shareholder yield
1.1%
dividends 0.0% + buybacks 1.1% of market value
R&D spending
13.5%
of revenue
Days sales outstanding
59 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in movies & entertainment
Last 12 months unless stated ROKU TKO AMC FWONK WMG IQ Median
Revenue, last 12 months $5.5bn $5.3bn $5.2bn $4.3bn $7.3bn $3.8bn $1.1bn
Revenue growth, last 12 months 21.1% 5.1% 6.4% 12.2% 12.9% −6.5% 8.5%
Revenue growth, 3-year average 17.8% 63.0% 7.1% — 7.1% — 7.1%
Revenue growth, latest quarter 24.1% 18.2% 14.2% −30.4% 10.4% — 11.3%
Gross margin 45.3% — — 83.9% 45.8% 21.1% 33.2%
Operating margin 7.8% 18.8% 4.4% 3.8% 13.7% 0.8% 2.5%
Operating margin, 3-year average −0.6% 11.0% 0.1% 7.6% 12.8% −12.2% −0.6%
Net margin 9.3% 4.3% −10.6% 9.4% 9.2% −0.8% 0.5%
Cash from operations / revenue 14.7% 33.9% 4.2% 21.9% 12.9% 0.4% 9.9%
Free-cash-flow margin 14.6% 23.9% −0.4% 19.0% 11.4% 0.0% 5.3%
Free-cash-flow margin, 3-year average 9.4% 10.5% −5.6% 27.9% 10.4% −1.0% 6.1%
Stock pay / revenue 5.8% 2.5% 0.3% 0.5% 1.2% 1.5% 1.5%
Change in share count 3.2% — 42.1% −2.0% — 846.8% 1.6%

Median of all 25 companies we cover in movies & entertainment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 movies & entertainment companies
Measure Company Peer median Rank
Revenue growth Growth 21.1% 8.5% 5 of 25
Change in growth rate Growth +2.5pp +0.7pp 8 of 25
Gross margin Profitability 45.3% 45.3% 5 of 10
Operating margin Profitability 7.8% 3.0% 7 of 24
Net margin Profitability 9.3% 0.5% 4 of 25
Free-cash-flow margin Cash generation 14.6% 7.1% 7 of 24
Stock pay as % of revenue Cash generation 5.8% 1.5% 22 of 25
Change in share count Balance sheet 3.2% 1.6% 13 of 19
Days sales outstanding Balance sheet 59 days 35 days 13 of 17

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$15.7B
Institutions reporting
778
Shares held vs prior quarter
▲ 1.0%
Positions opened / closed
190 / 106

Top buyers and sellers, Q2 2026: 420 institutions bought and 349 sold ; the biggest buyer was Blackrock, Inc (+6.0M shares) and the biggest seller FMR LLC (−11.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.8B 13.4M 11.8% ▲ 80.2%
Vanguard Capital Management LLC $819M 5.9M 5.2% ▲ 0.9%
Vanguard Portfolio Management LLC $812M 5.9M 5.2% ▼ 9.0%
FMR LLC $734M 5.3M 4.7% ▼ 68.8%
Pentwater Capital Management LP $597M 4.3M 3.8% New
State Street Corp $568M 4.1M 3.6% ▲ 81.9%
Balyasny Asset Management L.P. $435M 3.1M 2.8% ▲ 1277.1%
Geode Capital Management, LLC $424M 3.1M 2.7% ▲ 10.2%
Goldman Sachs Group Inc $366M 2.6M 2.3% ▲ 177.5%
Schroder Investment Management Group $286M 2.1M 1.8% ▼ 10.2%
Millennium Management LLC $260M 1.9M 1.7% ▲ 429.6%
Arrowstreet Capital, Limited Partnership $255M 1.8M 1.6% ▼ 9.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Roku, Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $141M 177 trades by 9 insiders · 100% under pre-set plans
Net ▼ $141M net selling
Insider Date Trade Shares Price Value
Jedda Dan CFO & COO October 15, 2026 Sell pre-set plan 7,000 $152.84 $1.1M
Collier Charles President, Roku Media October 5, 2026 Sell pre-set plan 424 $152.07 $64,478
Collier Charles President, Roku Media October 5, 2026 Sell pre-set plan 9,845 $151.61 $1.5M
Collier Charles President, Roku Media October 5, 2026 Sell pre-set plan 580 $152.06 $88,195
Collier Charles President, Roku Media October 5, 2026 Sell pre-set plan 9,689 $151.60 $1.5M
Hunt Neil D Director October 1, 2026 Sell pre-set plan 408 $152.04 $62,032
Hunt Neil D Director October 1, 2026 Sell pre-set plan 1,592 $150.85 $240,153
Banks Matthew C. VP, CAO October 1, 2026 Sell pre-set plan 554 $152.21 $84,324
Jedda Dan CFO & COO September 15, 2026 Sell pre-set plan 7,000 $156.81 $1.1M
Collier Charles President, Roku Media September 4, 2026 Sell pre-set plan 8,843 $156.87 $1.4M
Collier Charles President, Roku Media September 4, 2026 Sell pre-set plan 1,426 $157.73 $224,923
Banks Matthew C. VP, CAO September 2, 2026 Sell pre-set plan 546 $155.64 $84,979

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 29 trades and filings

No trades in Roku, Inc disclosed in the last 12 months; 29 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Purchase, $15,001 - $50,000, traded April 10, 2023, filed May 19, 2023
  • James R. Langevin(D-RI 2):Purchase (option), $1,001 - $15,000, traded February 10, 2022, filed March 4, 2022
  • James R. Langevin(D-RI 2):Sale (full) (option), $1,001 - $15,000, traded May 7, 2021, filed June 10, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 11, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 6, 2026
  • April 30, 2026
  • February 12, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Roku, Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Roku, Inc in brief

What does Roku, Inc do?
Roku, Inc is a US-listed company in the movies & entertainment industry. Its financial year ends in December.
What is Roku, Inc's stock ticker?
Roku, Inc trades under the ticker ROKU on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Roku, Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Roku, Inc reported revenue of $5.5B, 21.1% higher than a year earlier, according to its SEC filings.
What is Roku, Inc's free cash flow?
Roku, Inc's free-cash-flow margin is 14.6% of revenue over the trailing twelve months, ranking 7 of the 24 movies & entertainment companies we cover.
What is Roku, Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Roku, Inc's free cash flow after stock-based pay gives ~$53 per share in the base case, and ~$45–$64 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Roku, Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Roku, Inc buying back stock, and does it pay a dividend?
Roku, Inc spent $263M on share repurchases over the trailing twelve months, and its diluted share count still rose 3.2% over the year.
What is Roku, Inc's market cap?
On November 2, 2026, Roku, Inc's market capitalisation was about $23.8B, with a price-to-earnings ratio of 46.3 and net debt of -$2.5B. Market figures come from third-party market data and may be delayed.
Who are Roku, Inc's competitors?
In our Movies & Entertainment peer group, the companies closest to Roku, Inc are TKO Group Holdings, AMC Entertainment Holdings, Inc., Liberty Media Corp, Warner Music Group Corp. and Iqiyi, Inc. The side-by-side comparison below sets their revenue, margins and growth against Roku, Inc's.
Are insiders buying or selling Roku, Inc stock?
Over the last 12 months, Roku, Inc's directors and officers reported 0 open-market purchases and 177 sales on Form 4. The insider trading page charts every trade.
When is Roku, Inc's next earnings date?
Around February 11, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Roku, Inc announces its own schedule.