Latest Ratios: P/E Ratio -31.8x · EV/EBITDA N/A · ROE -365.0%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $35.1B | $55.9B | $37.5B | $28.2B | $16.9B | $52.2B | — | — | — |
| Enterprise Value | $35.7B | $56.5B | $38.6B | $29.3B | $15.5B | $50.4B | — | — | — |
| P/E Ratio → | -31.81 | — | — | — | — | — | — | — | — |
| P/S Ratio | 7.17 | 11.43 | 10.40 | 10.07 | 7.62 | 27.19 | — | — | — |
| P/B Ratio | 90.10 | 149.02 | 179.55 | 410.69 | 55.57 | 88.01 | — | — | — |
| P/FCF | 25.93 | 41.30 | 58.29 | 227.27 | — | 93.52 | — | — | — |
| P/OCF | 19.53 | 31.11 | 45.56 | 61.51 | 45.90 | 79.17 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.55 | 10.70 | 10.46 | 6.98 | 26.27 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 41.75 | 59.99 | 236.01 | — | 90.35 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.1% | 78.1% | 77.8% | 76.8% | 75.4% | 74.1% | 74.0% | 75.9% | 77.5% |
| Operating Margin | -25.2% | -25.2% | -29.5% | -45.0% | -41.5% | -25.8% | -28.8% | -15.0% | -26.9% |
| Net Profit Margin | -21.8% | -21.8% | -26.0% | -41.2% | -41.5% | -25.6% | -27.4% | -14.0% | -27.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -365.0% | -365.0% | -674.7% | -616.6% | -205.9% | -272.7% | — | — | — |
| ROA | -12.7% | -12.7% | -14.0% | -20.0% | -18.6% | -15.3% | -19.4% | -10.9% | -16.2% |
| ROIC | -81.3% | -81.3% | -65.0% | -5059.3% | — | — | — | — | — |
| ROCE | -31.0% | -31.0% | -32.1% | -41.9% | -34.9% | -32.9% | -60.3% | -33.4% | -45.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.81 | 4.81 | 8.65 | 25.69 | 5.10 | 2.08 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 1.59 | 5.24 | 15.80 | -4.66 | -2.99 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 0.44 | 1.70 | 8.74 | — | -3.17 | -2.17 | -20.86 | -6.51 |
| Interest Coverage | -25.68 | -25.68 | -21.77 | -27.49 | -22.35 | -71.02 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.96 | 0.96 | 1.02 | 1.07 | 1.55 | 1.73 | 1.16 | 1.15 | 1.19 |
| Quick Ratio | 0.96 | 0.96 | 1.02 | 1.07 | 1.55 | 1.73 | 1.16 | 1.15 | 1.19 |
| Cash Ratio | 0.60 | 0.60 | 0.66 | 0.72 | 1.20 | 1.39 | 0.73 | 0.72 | 0.81 |
| Asset Turnover | — | 0.51 | 0.50 | 0.45 | 0.41 | 0.42 | 0.50 | 0.67 | 0.60 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 69.85 | 64.30 | 67.86 | 62.23 | 58.45 | 97.58 | 65.52 | 57.51 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | 3.9% | 2.4% | 1.7% | 0.4% | — | 1.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $690M | $647M | $616M | $596M | $506M | $535M | $526M | $161M |
Includes 30+ ratios · 8 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying RBLX stock.
Roblox Corporation's current P/E ratio is -31.8x. This places it at the 50th percentile of its historical range.
Roblox Corporation's return on equity (ROE) is -365.0%. The historical average is -281.2%.
Based on historical data, Roblox Corporation is trading at a P/E of -31.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Roblox Corporation has 78.1% gross margin and -25.2% operating margin.
Key Metrics
Top Statement Risk
Leverage and negative equity
Metrics are mathematically derived from official filings.
Margins Improve but Losses Persist
According to recent financial statements, RBLX's gross margin expanded to 80.1% in 2026Q2 from 77.7% in 2024Q4, yet operating margin remains deeply negative at -15.6%, indicating persistent structural losses.
The gross margin expansion suggests improving infrastructure efficiency and pricing power, but the operating margin, though improved from -37.7% in 2024Q1, still reflects heavy investment in R&D and platform development. The net margin of -12.5% in 2026Q2, while narrowing, indicates that the company is still far from profitability on a GAAP basis. Investors should monitor whether revenue growth can eventually outpace the fixed cost base to achieve operating leverage.
Returns on Capital Remain Deeply Negative
Based on reported figures, RBLX's ROIC improved to -17.3% in 2026Q2 from -20.9% in 2024Q1, but remains deeply negative, indicating that the company is destroying value on invested capital.
The negative ROIC, despite a slight improvement, suggests that the company's investments in growth have not yet generated sufficient returns. ROE is even more distorted at -67.8% due to the thin equity base of $152M, which amplifies the negative impact of losses. The improvement in ROIC is driven by narrowing losses rather than a fundamental shift in capital efficiency, and investors should expect continued value destruction until margins turn positive.
Working Capital Swings Drive Cash Flow
As reported in quarterly data, RBLX's cash conversion cycle is unavailable due to missing inventory data, but DSO improved to 33 days in 2026Q2 from 49 days in 2024Q1, while DPO fell to 7 days, indicating volatile working capital management.
The sharp reduction in DSO suggests faster collection of receivables, but the low DPO of 7 days indicates that RBLX pays suppliers quickly, which may reflect the nature of its digital platform with minimal payables. The extreme quarterly swings in working capital, as noted in the cash flow analysis, contribute to high FCF volatility, with FCF margins ranging from 12.2% to 41.4%. This volatility makes it difficult to assess the company's true cash generation efficiency on a quarterly basis.
Leverage Distorted by Thin Equity
According to recent balance sheet data, RBLX's debt-to-equity ratio spiked to 14.23 in 2026Q2 from 4.35 in 2026Q1, driven by equity collapsing to $152M, while total debt remained flat at $1.8B.
The D/E ratio is misleading because it is heavily influenced by the small equity base, which is eroded by cumulative losses. The negative interest coverage ratio (e.g., -17.3 in 2026Q2) indicates that operating income is insufficient to cover interest expenses, but this is partly due to the company's high cash balance and low actual interest burden. The real leverage concern is the $6.9B in deferred revenue, which represents a liability to deliver services, and when combined with negative equity, suggests a strained balance sheet.
Liquidity Buffer Tightens Below 1.0
Based on reported figures, RBLX's current ratio fell to 0.82 in 2026Q2 from 1.07 in 2024Q1, with cash at $991M, indicating that current liabilities exceed current assets and raising concerns about short-term solvency.
The current ratio below 1.0 suggests that RBLX may struggle to meet short-term obligations without relying on cash flows or additional financing. However, the company's strong operating cash flow of $318M in 2026Q2 and low capital intensity provide some buffer. The quick ratio is identical to the current ratio, indicating that inventory is not a factor, which is typical for a digital platform. Investors should monitor whether the company can maintain positive operating cash flow to support its liquidity position.
Misapplied Metric: P/E Ratio
The P/E ratio is commonly misapplied to RBLX because the company is loss-making, making the metric meaningless; instead, investors should focus on P/FCF or EV/Sales, which better capture the company's cash generation and growth potential.
With a P/E of -24.06, the metric provides no insight into valuation because earnings are negative. The P/FCF of 19.61 is more relevant, but it is distorted by stock-based compensation and working capital swings. The P/S of 5.42 suggests that the market is pricing in significant future growth, but this is only justified if the company can achieve meaningful operating leverage. Investors should use EV/Sales or EV/EBITDA (when EBITDA turns positive) to assess valuation relative to peers, and adjust for SBC to get a clearer picture of true earnings power.