Latest Ratios: P/E Ratio -36.3x · 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 | $35.3B | $55.9B | $37.5B | $28.2B | $16.9B | $52.2B | — | — | — |
| Enterprise Value | $35.9B | $56.5B | $38.6B | $29.3B | $15.5B | $50.4B | — | — | — |
| P/E Ratio → | -36.31 | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.98 | 11.43 | 10.40 | 10.07 | 7.62 | 27.19 | — | — | — |
| P/B Ratio | 90.67 | 149.02 | 179.55 | 410.69 | 55.57 | 88.01 | — | — | — |
| P/FCF | 22.57 | 41.30 | 58.42 | 227.27 | — | 93.52 | — | — | — |
| P/OCF | 19.65 | 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 | 60.12 | 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 | 1.71 | 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 | 4.4% | 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 -36.3x. 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 -36.3x. 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
Persistent operating losses and thin equity
Metrics are mathematically derived from official filings.
Negative Earnings Make Multiples Unreliable
Based on reported figures, Roblox trades at a P/E of -30.94 and a price-to-sales of 6.98, so earnings-based multiples offer little guidance while sales and free cash flow multiples carry most of the valuation signal for investors.
With net losses in every quarter shown, the trailing P/E is negative and not meaningful as a comparison point against Electronic Arts, which trades at 59.74 on positive earnings. The price-to-free-cash-flow multiple of 25.22 and the price-to-sales of 6.98 suggest the market is pricing in sustained platform growth and eventual margin expansion rather than current profitability. Investors should monitor whether operating margin recovery from -18.0% can justify this premium over time.
Stable Gross Margin Masks Operating Deficit
As reported in quarterly income statements, gross margin held within a 77.7% to 80.1% band while operating margin moved from -24.7% to -18.0%, indicating that the cost base, not platform economics, drives the losses.
A gross margin near 80% is consistent with a high-margin digital platform, yet operating expenses in research, development, and general administrative costs consume more than the entire gross profit. The improvement in operating margin during 2026 may suggest early cost discipline, but the magnitude remains small relative to the cost base. Net margin of -14.4% in 2026Q3 versus -22.3% at the 2025Q4 trough warrants monitoring to see whether this trend sustains.
Negative Returns Showing Partial Recovery
Based on reported figures, ROIC improved from roughly -25.5% in 2025Q4 to -24.1% in 2026Q3 while ROE swung sharply, suggesting returns remain deeply negative despite some stabilization in invested capital efficiency.
ROIC remains negative across all periods, meaning the company is currently not earning its cost of capital on the capital deployed. The volatility in ROE, which moved from -165.2% in 2024Q3 to -4.5% in 2026Q3, is largely a function of the shrinking and near-zero equity base rather than an improvement in underlying profitability. Investors should view the return trend as directionally improving but not yet compounding.
Deferred Revenue Drives Liability Burden
According to reported quarterly data, total debt stayed near $1.8 to $1.9 billion while the debt-to-equity ratio fell from 16.61 to 0.80 mainly because equity rebuilt, leaving non-debt liabilities as the dominant leverage consideration.
Interest coverage is negative at -19.82 in 2026Q3, indicating operating income cannot service interest expense, which warrants close attention. Much of the apparent leverage stems from deferred revenue of roughly $7.0 billion rather than financial debt, which may overstate financing risk compared with the underlying cash economics. The thin equity cushion, which turned slightly negative in 2026Q3, leaves limited room for further losses before solvency metrics deteriorate.
Current Ratio Below One Warrants Monitoring
Based on reported figures, the current ratio declined from 1.03 in 2024Q2 to 0.80 in 2026Q3, meaning current liabilities exceed current assets even with roughly $1.1 billion in cash on hand.
A current ratio below one is common for platforms carrying large deferred revenue balances, since those obligations are typically settled through service delivery rather than cash outflows. However, a severe stress scenario in which deferred bookings slowed sharply could pressure working capital more than the ratio alone suggests. The cash position appears adequate to cover near-term obligations based on reported figures, though this conclusion depends on continued positive operating cash flow.
Free Cash Flow Overstates Economic Earnings
Based on reported figures, free cash flow margins of 12% to 41% are flattered by stock-based compensation of roughly $250 to $300 million per quarter, which is added back in operating cash flow yet represents real shareholder dilution.
The most commonly misapplied metric for this business is free cash flow margin, which appears strong relative to the negative net margin but excludes a recurring non-cash expense that transfers value to employees. Price-to-free-cash-flow of 25.22 may therefore look more attractive than it is on a fully diluted, compensation-adjusted basis. Investors should consider subtracting stock-based compensation from operating cash flow to derive a more conservative cash earnings measure before drawing valuation conclusions.