Tearsheet

Roku (ROKU)


Market Price (10/22/2025): $96.61 | Market Cap: $14.2 Bil
Sector: Communication Services | Industry: Movies & Entertainment

Roku (ROKU)


Market Price (10/22/2025): $96.61
Market Cap: $14.2 Bil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
Weak multi-year price returns
2Y Excs Rtn is -12%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -156 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.5%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 17%
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 17%
2 Weak multi-year price returns
2Y Excs Rtn is -12%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -156 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.5%
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0%

Market Valuation & Key Metrics

ROKU Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
ROKU Return148%-31%-82%125%-19%31%-30%
Peers Return16%20%-10%9%16%-2%56%
S&P 500 Return16%27%-19%24%23%15%106%

Monthly Win Rates [3]
ROKU Win Rate67%50%25%58%50%78% 
Peers Win Rate47%43%34%57%53%55% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
ROKU Max Drawdown-52%-39%-83%-0%-44%-26% 
Peers Max Drawdown-29%-4%-25%-24%-12%-27% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: NFLX, NWSA, NXST, AC, ANGH. See ROKU Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/21/2025 (YTD)

How Low Can It Go

Unique KeyEventROKUS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-91.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven1135.8%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-55.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven124.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven115 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-64.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven181.5%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven136 days120 days

Compare to NFLX, NWSA, NXST, AC, ANGH


In The Past

Roku's stock fell -91.9% during the 2022 Inflation Shock from a high on 7/26/2021. A -91.9% loss requires a 1135.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Roku (ROKU)

Interactive Breakdown

Roku Interactive Breakdown Analysis

Better Bets than Roku (ROKU)

Trade Ideas

Select past ideas related to ROKU. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
10.0%10.0%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-8.9%-8.9%-11.0%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
8.5%8.5%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-20.3%-20.3%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.7%44.7%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
10.0%10.0%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-8.9%-8.9%-11.0%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
8.5%8.5%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-20.3%-20.3%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.7%44.7%0.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Roku

Financials

ROKUNFLXNWSANXSTACANGHMedian
NameRoku Netflix News Nexstar .Marquee Anghami  
Mkt Price97.491,241.3526.38197.19-2.9197.49
Mkt Cap14.3527.814.76.0--14.5
Rev LTM4,39541,6938,9335,316--7,124
Op Inc LTM-15612,3049691,209--1,089
FCF LTM3908,5015711,254--912
FCF 3Y Avg1816,527463992--727
CFO LTM3969,0709781,382--1,180
CFO 3Y Avg2486,9508841,142--1,013

Growth & Margins

ROKUNFLXNWSANXSTACANGHMedian
NameRoku Netflix News Nexstar .Marquee Anghami  
Rev Chg LTM17.3%14.8%2.4%6.6%--10.7%
Rev Chg 3Y Avg13.2%10.5%-3.9%3.2%--6.8%
Rev Chg Q14.8%15.9%0.8%-3.2%--7.8%
QoQ Delta Rev Chg LTM3.4%3.8%0.2%-0.7%--1.8%
Op Mgn LTM-3.5%29.5%10.8%22.7%--16.8%
Op Mgn 3Y Avg-14.1%23.6%9.6%20.8%--15.2%
QoQ Delta Op Mgn LTM1.2%1.8%0.1%-0.3%--0.7%
CFO/Rev LTM9.0%21.8%10.9%26.0%--16.4%
CFO/Rev 3Y Avg6.1%18.6%10.3%21.9%--14.5%
FCF/Rev LTM8.9%20.4%6.4%23.6%--14.6%
FCF/Rev 3Y Avg4.1%17.5%5.4%19.0%--11.4%

Valuation

ROKUNFLXNWSANXSTACANGHMedian
NameRoku Netflix News Nexstar .Marquee Anghami  
Mkt Cap14.3527.814.76.0--14.5
P/S3.312.71.61.1--2.4
P/EBIT-1,276.842.414.24.7--9.5
P/E-232.851.512.49.4--10.9
P/CFO36.158.215.04.3--25.6
Total Yield-0.4%1.9%9.3%14.3%--5.6%
Dividend Yield0.0%0.0%1.3%3.7%--0.6%
FCF Yield 3Y Avg1.6%2.0%3.1%17.9%--2.6%
D/E0.00.00.21.1--0.1
Net D/E-0.10.00.01.0--0.0

Returns

ROKUNFLXNWSANXSTACANGHMedian
NameRoku Netflix News Nexstar .Marquee Anghami  
1M Rtn-4.2%1.2%-13.8%-5.6%--6.1%-5.6%
3M Rtn8.9%4.3%-10.1%8.0%--41.7%4.3%
6M Rtn64.6%19.3%1.1%33.6%--50.3%19.3%
12M Rtn26.6%60.8%0.9%20.2%--64.1%20.2%
3Y Rtn94.4%328.7%57.4%20.3%--88.4%57.4%
1M Excs Rtn-2.2%0.5%-15.0%-3.1%--3.0%-3.0%
3M Excs Rtn2.1%-0.4%-15.9%-2.2%--41.3%-2.2%
6M Excs Rtn37.2%-8.1%-26.3%6.3%--77.6%-8.1%
12M Excs Rtn11.4%65.2%-14.8%4.0%--78.5%4.0%
3Y Excs Rtn9.9%351.7%-14.4%-59.3%--175.3%-14.4%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Platform2,9942,7112,2651,268741
Devices491415500511388
Total3,4853,1272,7651,7781,129


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity7,137,893
Short Interest: % Change Since 9152025-21.8%
Average Daily Volume3,068,811
Days-to-Cover Short Interest2.33
Basic Shares Quantity146,888,000
Short % of Basic Shares4.9%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/2025-15.1%-11.7%2.5%
5/1/2025-8.5%-8.8%8.5%
2/13/202514.1%2.4%-19.8%
10/30/2024-17.3%-6.8%-10.9%
8/1/2024-4.0%0.5%22.5%
4/25/2024-10.3%-4.6%-9.6%
2/15/2024-23.8%-31.8%-32.9%
11/1/202330.7%38.8%73.4%
...
SUMMARY STATS   
# Positive101013
# Negative151512
Median Positive12.1%7.1%11.8%
Median Negative-8.5%-11.4%-18.8%
Max Positive31.4%38.8%73.4%
Max Negative-23.8%-31.8%-54.1%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025801202510-Q 6/30/2025
3312025502202510-Q 3/31/2025
12312024214202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024802202410-Q 6/30/2024
3312024426202410-Q 3/31/2024
12312023216202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023728202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022216202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022729202210-Q 6/30/2022
3312022429202210-Q 3/31/2022
12312021218202210-K 12/31/2021
93020211104202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Ozgen MustafaPres, Devices, Prod, and Tech9102025Sell100.0050,5275,052,700 Form
1Jedda DanCFO & COO8192025Sell88.141,500132,2106,578,064Form
2Banks Matthew C.VP, Corp Controller & CAO8052025Sell85.053,360285,768441,835Form
3Collier CharlesPresident, Roku Media7222025Sell95.007,180682,10019,000Form
4Jedda DanCFO7162025Sell90.203,000270,6006,867,106Form