Back to ROKU Overview
NMS · Valuation Lab
ROKU
Roku, Inc.
Last$146.96
Market cap21.8B
EV/EBITDA50.6x
Intrinsic value
$136.13
MoS -8.0% · Fairly Valued
Assuming 13.7% FCF margin and 22.4% Y1–5 growth.
Upside to price
EV (DCF)16.1B
Terminal share46%
Expected IV$140.54
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 46% of EV
PV of stage FCFs8.7B
PV of terminal value7.4B
Enterprise value16.1B
Net cash / (debt)1.9B
Equity value18B
Intrinsic value / share$136.13
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 6.1B | 832.6M | 729.3M | 87.6% |
| Y2 | 7.4B | 1B | 781.9M | 76.7% |
| Y3 | 9.1B | 1.2B | 838.2M | 67.2% |
| Y4 | 11.1B | 1.5B | 898.7M | 58.9% |
| Y5 | 13.6B | 1.9B | 963.4M | 51.6% |
| Y6 | 15.2B | 2.1B | 938.4M | 45.2% |
| Y7 | 16.9B | 2.3B | 914M | 39.5% |
| Y8 | 18.8B | 2.6B | 890.2M | 34.6% |
| Y9 | 20.9B | 2.9B | 867M | 30.3% |
| Y10 | 23.2B | 3.2B | 844.5M | 26.6% |
| Terminal | — | — | 7.4B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.