Loading…
US streaming platform and smart TV/device maker that connects viewers with streaming apps and sells connected-TV advertising.
US streaming platform and smart TV/device maker that connects viewers with streaming apps and sells connected-TV advertising.
Earns little on the hardware, which is priced low to put its software in as many homes as possible; the money is in the platform: ads sold on the home screen and Roku Channel, plus a cut of subscriptions and ad revenue from streaming apps that run on it. TV makers such as TCL and Hisense also build its software into their sets.
Moat: narrow (scale, installed base, distribution). Large installed base of Roku devices/TVs and default home-screen placement give leverage over advertisers and app publishers.
Headquarters: San Jose, California, US · Founded: 2002 · Employees: 3,600
Size Roku (ROKU) is a United States Communication Services company (Packaged Software) with a market value of $23.9B, the 440th largest of 3,117 United States companies the cockpit tracks. Shares closed at $160.52 on 6 Nov 2026.
Performance Over six months the shares gained 23.9%, against -2.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue grew 21.1% over the last twelve months (peer median +15.3%); the operating margin is 7.8% (peer median 19.6%).
Valuation It trades at 39.1× forward earnings against a peer median of 20.6× (2nd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 40% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is +18 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 32.0 points above its cost of capital (15.3% WACC).
Backlog Backlog (remaining performance obligations) was $480M at 30 Sep 2026, down 56% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 7.4% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.50B | $4.74B | $4.11B | $3.48B | $3.13B |
| Revenue growth | — | +15% | +18% | +11% | — |
| Gross profit | $2.49B | $2.07B | $1.81B | $1.48B | $1.35B |
| EBITDA | $769M | $324M | $129M | -$308M | -$419M |
| Net income | $514M | $88.4M | -$129M | -$710M | -$498M |
| Free cash flow | $584M | $314M | $114M | $173M | -$150M |
| Capital expenditure | $9.41M | $5.28M | $5.06M | $82.6M | $162M |
| Total debt | $400M | $523M | $592M | $654M | $719M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Roku ROKU | $23.9B | +24% | +21% | 8% | 39.1× | 39.6% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Lgelectronics 066570.KS | $17.3B | -2% | +8% | 4% | 11.3× | -4.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ROKU | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.4% | +6.3% | 3rd lowest of 8 |
| 6-month return | +23.9% | -2.5% | 2nd highest of 8 |
| Distance from 52-week high | -1.9% | -27.4% | highest of 8 |
| Revenue growth (TTM) | +21.1% | +15.3% | 4th highest of 8 |
| Operating margin | 7.8% | 19.6% | 3rd lowest of 8 |
| Forward P/E | 39.1× | 20.6× | 2nd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 39.6% | -1.5% | 2nd most demanding of 8 |
| Growth delivered (Del g) | +21.6% | +14.8% | 3rd highest of 8 |
| Hurdle (Req g minus delivered) | +17.9 pp | -18.4 pp | 2nd most demanding of 8 |
| ROIC minus cost of capital | +32.0 pp | +12.4 pp | 2nd highest of 6 |
| EV / EBITDA | 28.1× | 8.7× | 2nd most expensive of 7 |
| Net debt / EBITDA | -3.0× | -1.4× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Roku ROKU | United States | $23.9B | +24% | +21% | 8% | 39.1× | 39.6% | +21.6% |
| Konami 9766.T | Japan | $23.5B | +45% | +25% | 33% | 25.7× | -1.5% | +12.6% |
| Naver 035420.KS | South Korea | $20.3B | -10% | +15% | 17% | 15.5× | -0.6% | +17.8% |
| Roblox RBLX | United States | $35.3B | +18% | +32% | -20% | n/a | 15.7% | +39.6% |
| Take-Two Interactive TTWO | United States | $40.2B | -3% | +15% | -1% | 26.7× | 44.7% | +14.6% |
| NTES 9999.HK | Hong Kong | $81.4B | +8% | +10% | 35% | 14.0× | -3.5% | +8.1% |
| Krafton 259960.KS | South Korea | $6.94B | -17% | +55% | 30% | 12.4× | -18.5% | +14.8% |
| Trade Desk (The) TTD | United States | $6.11B | -44% | +12% | 20% | 121.4× | -5.8% | +28.2% |
Roku reported $480M of remaining performance obligations at 30 Sep 2026, down 56% from a year earlier and down 23% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.90.