Roblox Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

Quarters: Roblox Corporation's SEC filings, named by the month they end. Fiscal years: Roblox Corporation's annual reports to the SEC.

How it makes money

The company loses $21.8 for every $100 of revenue. Operating expenses exceed all of gross profit.

Each margin is that line of the income statement divided by revenue. Fiscal year: Roblox Corporation's annual reports to the SEC; quarters: SEC filings.

How much does it spend on building?

Roblox spent $381M on property and equipment in the four quarters to Sep 2026, 6.5% of its revenue, against 4.6% a year earlier. That is 20% of the cash its operations brought in.

From Roblox Corporation's SEC filings: payments for property and equipment by quarter (networks, data centers, buildings; software built for its own use where the company counts it in), the fourth quarter being the year minus nine months; the share is the four quarters' spending over their revenue.

How much goes into research?

Roblox spent $1.7B on research and development in the four quarters to Sep 2026, 28.6% of its revenue, against 33.9% a year earlier. Over the year its research spending rose 11.5% and its revenue rose 32.1%.

From Roblox Corporation's SEC filings: research and development expense by quarter, the fourth being the year minus nine months; its share is the four quarters' expense over their revenue. Some companies count the research they buy, through licences and acquisitions, in this line, so it jumps in the quarter they pay; others report that on a line of its own, not shown here.

Customers and suppliers

In its latest annual report Roblox buys from Amazon, Blackhawk, Epay and 5 more. It sells through the platforms of Apple, Alphabet, Microsoft and 1 more.

Their suppliers

e.l.f. Beauty ELFto Amazon

United Parcel Service UPSto Amazon

Applied Optoelectronics AAOIto Amazon

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Suppliers

Amazon AMZN

PayPal PYPL

Blackhawk

Epay

I

Incomm

Stripe

Tipalti

Xsolla

 

RBLXRoblox

Roblox's 10-K for the year to Dec 2025 gives two customers' shares of its revenue: One Payment Processor (29%) and Second Payment Processor (15%).

From Roblox Corporation's 10-Q and 10-K filings (XBRL): each customer whose share of revenue a filing tags, under the filing's own label, so “Customer A” in one filing can be another company in the next; a later filing's figures for a period replace an earlier one's.

Partners

SSonghuaCo-owns China joint venture49% ownership interest; $50.0 million capital contribution in February 2019

Tencent 0700.HKLicenses localized Roblox application for China

Platforms

Apple AAPLRoblox sells through itUp to 30% of user payments through Apple App Store, current termsAlphabet GOOGLRoblox sells through itUp to 30% of user payments through Google Play Store, current termsMicrosoft MSFTRoblox sells through itAround 30% of user payments through console, current terms

Sony SONYRoblox sells through itAround 30% of user payments through console, current terms

Only the companies Roblox names in its 10-K filed Feb 11, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Platforms: an app store, a console maker or a marketplace one company sells through and pays a share or a fee; not supply, so not on the chain. Hover a name for the filing's own words.

Is it expensive?

Currently unprofitable, so P/E does not apply, so we look at price-to-sales instead: 6.2x, below the peer median of 6.7x. Revenue is up 16% from a year ago.

Below the peer median of 6.7x. The market pays less per $1 of revenue than for peers.

Roblox Corporation is currently unprofitable, so P/E does not apply. We use price-to-sales instead: market cap as a multiple of revenue.

What analysts expect

The average analyst price target is $49.33, 4% below the current price; 49% of 35 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 17 analysts (49%). Sell or Strong Sell: 3.

Over the past year the average of the analysts' latest price targets went from $156.89 to $47.71 (−70%), while RBLX went from $101.27 to $51.42 (−49%). In the past three months targets were raised 12 times and cut 8 times. 2 upgrades and 10 downgrades over the year; the latest: Jefferies moved it to Underperform from Hold on Sep 28, 2026.

The day after each of these reports the stock moved +5.3% (Dec 2025, beat); −19.8% (Mar 2026, beat); −29.0% (Jun 2026, beat); −19.3% (Sep 2026, beat).

For the quarter ending Dec 2026, analysts expect an adjusted loss of $0.50 a share, against a loss of $0.45 a year earlier, and revenue of $2.0B, up 41% on a year earlier. For the fiscal year ending Dec 2027, they expect an adjusted loss of $1.31 a share, against the year before's estimate of a loss of $1.43.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $1.6B in free cash flow over the year, of which $200M went back to shareholders (dividends plus buybacks), leaving $1.4B in the company.

Roblox had 716M diluted shares in the quarter ended Sep 2026, 2.7% more than a year earlier, and 4.4% more each year on average since Jun 2021. It spent $201M on buybacks over the last four quarters.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 1.0, short-term debt coverage is tight; shareholder equity is only 4% of assets, so debt-to-equity (2.6) says little; it has more cash than debt.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

1 portfolio Hunch tracks holds RBLX. It is 12.3% of ValueAct Holdings's portfolio (3.0% as filed).

• FundValueAct HoldingsActivist investment fundRBLX is 12% of this portfolio3% as filed+57.1%2-year backtest

RBLX's weight in each portfolio is its target weight in the copy Hunch follows: the stocks of the latest filing that the app can trade, their weights scaled up to add to 100%. “As filed” is its weight in the filing itself: a fund’s latest 13F, or a member of Congress’s holdings from the last annual report and the trades disclosed since, each at the low end of its range. Returns are backtests based on public filings, not actual trading results. Photo credits

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 14 held RBLX at the end of their latest quarter (for most, Q2 2026). Over that quarter 5 added shares, 8 cut, 4 sold all and 1 held the same. The largest of them is Baillie Gifford &, 9.71M shares worth $411M at Sep 30, 2026, 54.1% fewer than a quarter earlier.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of RBLX at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors sold $40.1M of RBLX on the open market in the 12 months to Nov 12, 2026; none bought. 80% of the sales were made under 10b5-1 plans, set up in advance. The largest was Anthony P Lee (Director), who sold $11.4M in 24 sales.

From the Form 4s filed with the SEC about Roblox Corporation (88 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 131 other transactions (grants, option exercises, shares sold to pay tax, gifts and other transfers).