Roku Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever holds or buys is no longer betting on the turnaround alone but on three things: that regulators clear the deal by March 2028 at the latest, that the Fox share holds its value (it makes up a good 40 percent of the consideration) — and that, in the failure case, the operating turnaround plus a $1.237 billion termination fee carry the stock. Checkpoints every quarter: the progress of the clearances in subsequent current reports (8-K) and the registration statement (S-4), the Fox share price — and, in the quarterly report (10-Q), whether operating income stays positive after the first green quarter. The anchor "72 percent below the all-time high" is no argument, by contrast: what counts is not the distance to the old high but the distance to the contract formula. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Roku is the rare turnaround that could end up in a textbook: three years of shrinking losses, then the first annual profit, then the first operationally green quarter — on $2.4 billion of cash and no drawn debt. But since June 14, 2026, the stock is no longer a pure turnaround bet: Fox is buying at $96.00 in cash plus 0.9693 of its own shares per Roku share, roughly 55 percent of the voting power has committed, and the founder controls a majority of the votes with 11.6 percent of the shares. Whoever buys today is mostly buying a claim on closing, with Fox price risk attached — the turnaround is the safety net now, not the bet. Not investment advice.
Operating turnaround
Net result from −$709.6 million (2023) to +$88.4 million (2025), Adjusted EBITDA from $4.3 million to $420.5 million, free cash flow of $483.6 million (TTM) — and in the first quarter of 2026 the first clearly positive operating income (+$51.8 million) on 22 percent revenue growth (10-K 2025; 10-Q as of 03/31/2026).
Platform & market position
More than 90 million streaming households, 145.6 billion streaming hours in 2025 (+15 percent), advertising up 27 and subscription revenue up 30 percent in the latest quarter — the leading platform by hours streamed in the U.S., Canada, and Mexico (10-K 2025; 10-Q).
Fox deal & closing risk
Per share $96.00 in cash plus 0.9693 Fox shares (~$160 at announcement); antitrust clearances and registration outstanding, long-stop date March 14, 2028; if regulators block the deal, Fox pays Roku $1.237 billion (8-K dated 06/15/2026). A good 40 percent of the consideration fluctuates with the Fox share price.
Voting structure
Anthony Wood controls a majority of the voting power with just 11.6 percent of the shares (Class B: 10 votes); roughly 55 percent of the votes are already contractually committed to the deal via voting and support agreement — Class A holders vote, but decide nothing (10-K 2025, Item 1A; 8-K dated 06/15/2026).
Earnings quality
2025 was still operationally negative at −$5.6 million — the annual profit came from $101.4 million of interest income; accumulated deficit of $1,488.6 million, stock-based compensation of $354.2 million (four times net profit), weighted share count up from 141.6 to 147.2 million within two years (10-K 2025).
Devices business & competition
Devices are sold at a negative gross margin by stated strategy (−$82.0 million in 2025, −$19.1 million in Q1 2026 on revenue down 16 percent); the platform defends its households against Amazon, Google, and the TV makers through subsidy — without pricing power (10-K 2025).
Worth Noting
ROKU entered the research list as rank 4 of our in-house turnaround scanner (U.S. selection, checklist 7 of 8, as of July 18, 2026) — part of our series on the top 20 of that selection.
Scanner metrics (P/E, P/S, Piotroski, Altman Z, relative strength, insider and fund data) use trailing twelve-month figures as of July 18, 2026; the missing eighth checklist point is the insider buying signal (20 sales, 0 purchases).
Price and market value figures (~$135, ~$20 billion) are from the July 18, 2026 feed, sanity-checked against 147.5 million weighted shares per the 10-Q as of March 31, 2026; the deal value implied at announcement (~$160) comes from Fox's investor presentation (Form 425) and moves with the Fox share price; analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at ROKU since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Price history
Chart
Interactive price chart (TradingView).
52-week range: 82.90 $ to 159.80 $ · Last price: 154.10 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Entertainment
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Roku Inc ROKU | 23.0 | 116.6 | 29.0 | 45.5 | 4.3 | 15.2 | 56.7 |
| Netflix Inc NFLX | 317.3 | 25.8 | 9.4 | 49.1 | 32.3 | 15.9 | -38.7 |
| Walt Disney Company DIS | 182.5 | 17.6 | 11.2 | 37.6 | 15.5 | 3.4 | -8.0 |
| Warner Bros Discovery Inc WBD | 70.7 | – | 7.3 | 47.8 | 8.6 | -5.2 | 57.0 |
| Live Nation Entertainment Inc LYV | 39.6 | – | 24.9 | 25.8 | -9.9 | 8.8 | 0.4 |
| TKO Group Holdings, Inc. TKO | 35.2 | 71.7 | 12.0 | 59.5 | 21.2 | 68.9 | -4.5 |
| Fox Corp Class A FOXA | 27.6 | 18.2 | 9.9 | 36.6 | 21.4 | 16.6 | 10.8 |
| Fox Corp Class B FOX | 24.7 | 16.4 | 9.9 | 36.6 | 21.4 | 16.6 | 10.2 |
| Liberty Media Corporation (Serie C) FWONK | 23.7 | 41.9 | 24.1 | 32.6 | 9.0 | 22.7 | -7.7 |
| Median of companies shown | 35.2 | 25.8 | 11.2 | 37.6 | 15.5 | 15.9 | 0.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 399 | -43 | -43 | -0.50 | -32 | -194 | 179 |
| 2017 | 513 | -20 | -64 | -0.75 | 37 | 152 | 372 |
| 2018 | 743 | -13 | -9 | -0.08 | 14 | 245 | 465 |
| 2019 | 1,129 | -65 | -60 | -0.52 | 14 | 698 | 1,470 |
| 2020 | 1,778 | -20 | -18 | -0.14 | 148 | 1,328 | 2,271 |
| 2021 | 2,765 | 235 | 242 | 1.71 | 228 | 2,767 | 4,082 |
| 2022 | 3,127 | -531 | -498 | -3.62 | 12 | 2,647 | 4,413 |
| 2023 | 3,485 | -792 | -710 | -5.01 | 256 | 2,326 | 4,262 |
| 2024 | 4,113 | -218 | -129 | -0.89 | 218 | 2,493 | 4,304 |
| 2025 | 4,737 | -6 | 88 | 0.59 | 484 | 2,658 | 4,433 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.24 | – | 1,201 | 22.00 | -3.00 | 79 | 77 |
| 2025: Q1 | -0.19 | – | 1,021 | 15.80 | -2.70 | 139 | 137 |
| 2025: Q2 | 0.07 | – | 1,111 | 14.80 | 0.90 | 110 | 109 |
| 2025: Q3 | 0.16 | – | 1,211 | 14.00 | 2.00 | 128 | 127 |
| 2025: Q4 | 0.53 | – | 1,395 | 16.10 | 5.80 | 223 | 222 |
| 2026: Q1 | 0.57 | – | 1,249 | 22.40 | 6.90 | 199 | 196 |
| 2026: Q2 | 1.08 | 1,442.90 | 1,355 | 21.90 | 12.10 | 285 | 281 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 15 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Earnings & Surprises
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- Ameet Rai: Daily Liquidity
- Character Change (CC)
- Chris Perruna: Within 15% of Highs
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- Mark Minervini: Trend Criteria — 1 Month
- Mike Webster: Swing Trading List
- Stan Weinstein: Stage 2
Research
Value & GARP
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 2.99 | 2.89 – 3.08 | 5,625 | 394.5% | 4 |
| 12/31/2027 | 3.92 | 3.47 – 4.40 | 6,308 | 31.2% | 9 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 12.2% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $825.0M |
|---|---|
| Market cap | $22.96B |
| Free cash flow in year ten | $2.61B |
| Terminal value as a share of market value | 59.9% |
For comparison: over the past five years free cash flow grew by 48.7% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Roku setzt KI laut 10-K/10-Q operativ ein — Empfehlungs-Engine und KI-gestützte Content-Row auf dem Startbildschirm, Messung und Performance im Werbe-Tool Roku Ads Manager sowie interne Produktivität —, verkauft aber keine KI-Produkte als eigene Umsatzquelle; die Erlöse stammen aus Werbung, Abo-Provisionen und Geräten.
View the full file — quotes, sources, reviewed filings
„We have incorporated and intend to continue to incorporate AI technologies, such as machine learning and generative AI, into our operations, products, and services. For example, we use AI technologies to power our content recommendation engine and our content row on the Roku Home Screen to provide more personalized recommendations. We also use AI technologies to improve measurement and performance in Roku Ads Manager and drive internal operational productivity and efficiency."
Wir haben KI-Technologien wie maschinelles Lernen und generative KI in unsere Abläufe, Produkte und Dienste integriert und beabsichtigen, dies weiter zu tun. Beispielsweise nutzen wir KI-Technologien für unsere Inhalte-Empfehlungs-Engine und unsere Content-Row auf dem Roku-Startbildschirm, um persönlichere Empfehlungen zu geben. Außerdem nutzen wir KI-Technologien, um Messung und Performance im Roku Ads Manager zu verbessern und die interne operative Produktivität und Effizienz zu steigern.
10-K · 2026-02-13 · View SEC filing
„Our Home Screen includes features such as our content row (located on the top right), which we launched in 2024 to make personalized, AI-powered recommendations to our users."
Unser Startbildschirm umfasst Funktionen wie unsere Content-Row (oben rechts), die wir 2024 eingeführt haben, um unseren Nutzern personalisierte, KI-gestützte Empfehlungen zu geben.
10-K · 2026-02-13 · View SEC filing
„our ability to adapt to changing market conditions and technological developments, including our ability to successfully incorporate artificial intelligence into our operations, products, and services"
unsere Fähigkeit, uns an veränderte Marktbedingungen und technologische Entwicklungen anzupassen — einschließlich unserer Fähigkeit, Künstliche Intelligenz erfolgreich in unsere Abläufe, Produkte und Dienste zu integrieren
10-Q · 2026-05-01 · View SEC filing
Filings Reviewed: 10-Q 2026-05-01 · 10-Q 2025-10-31 · 10-Q 2025-08-01 · 10-Q 2025-05-02 · 10-K 2026-02-13 · 10-K 2025-02-14
Rated on July 19, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 14.9%
- More than 10% revenue growth is expected for the coming year 12.5%
- Share count grows by less than 3% a year 3.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 25.3%
- Gross margin at 40% or higher and without meaningful erosion 43.8%
- Goodwill from acquisitions does not grow faster than revenue 7.0%
- Net debt below twice EBITDA 1,445 m net cash
- Operating cash flow covers the profits of the last three years 1,708 m
- Return on capital at 15% or higher, or up versus two years ago -0.2%
- Insiders hold at least 10% or are net buyers 0.6%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 31.7%
- Exp. sales growth 3Y > 5% 15.4%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 158.8%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 1
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 3.8%
- ROCE > 15% -0.2%
- Expected return > 10% 164.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 15, 2026 | Jedda Dan | CFO & COO | Sell | 7,000 | 156.81 | 1,097,670 |
| Sep 14, 2026 | Wood Anthony J. | CEO and Chairman BOD | Other | 24,109 | 0.00 | – |
| Sep 4, 2026 | Collier Charles | President, Roku Media | Sell | 1,426 | 157.73 | 224,923 |
| Sep 4, 2026 | Collier Charles | President, Roku Media | Sell | 8,843 | 156.87 | 1,387,201 |
| Sep 4, 2026 | Collier Charles | President, Roku Media | Other | 10,269 | 49.59 | 509,240 |
| Sep 2, 2026 | Banks Matthew C. | VP, CAO | Sell | 546 | 155.64 | 84,979 |
| Sep 2, 2026 | Collier Charles | President, Roku Media | Sell | 1,150 | 157.84 | 181,516 |
| Sep 2, 2026 | Collier Charles | President, Roku Media | Sell | 1,390 | 156.84 | 218,008 |
| Sep 2, 2026 | Collier Charles | President, Roku Media | Sell | 993 | 155.80 | 154,709 |
| Sep 2, 2026 | Collier Charles | President, Roku Media | Sell | 441 | 157.92 | 69,643 |
The company
About the Company
Roku, Inc. betreibt mit ihren Tochtergesellschaften eine TV-Streamingplattform in den USA und international.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 3,600
- Headquarters
- San Jose, CA
- Address
- 1173 Coleman Avenue, 95110 San Jose, United States
- Phone
- 408 556 9040
- Website
- roku.com
- IPO Date
- 09/28/2017
- ISIN
- US77543R1023
Management
| Name | Title | Birth Year |
|---|---|---|
| Anthony J. Wood | Founder, Chairman, President & CEO | 1966 |
| Dan Jedda C.P.A. | COO & CFO | 1972 |
| Mustafa Ozgen | President of Devices, Product & Technology | 1968 |
| Christopher T. Handman J.D. | Senior VP & General Counsel | 1973 |
| Charlie Collier | President of Roku Media | 1978 |
| Matthew C. Banks | VP, Corporate Controller & Chief Accounting Officer | 1978 |
| Conrad Grodd | Vice President of Investor Relations | – |
| Kelli Raftery | Vice President of Global Communications | 1973 |
| Gilbert Fuchsberg | President of Subscriptions, Partnerships & Corporate Development | 1963 |
| Ilya Asnis | Senior Vice President of Roku OS | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.