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DCF valuation

What is Roblox Corp worth?

With the base-case assumptions below, a discounted cash flow model on Roblox Corp's reported free cash flow gives $65.06 per share. The share price was $50.78 on November 10, 2026, 22% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$1.36B
Average free cash flow, last 5 years
$528.9M
Cash
$1.09B
balance sheet of September 30, 2026
Debt
$1.01B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
689,612,000
Revenue growth per year, last 4 years
51.7%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$39.58-22%
Base15.0%9.0%2.5%9.0%$65.06+28%
Bull20.0%11.5%3.0%8.0%$112.50+122%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$84.35$90.37$97.72$106.91$118.72
8.0%$69.86$73.76$78.37$83.90$90.66
9.0%$59.31$61.98$65.06$68.65$72.89
10.0%$51.32$53.21$55.36$57.82$60.66
11.0%$45.06$46.45$48.01$49.75$51.74

Where the presets come from

Base: years 1 to 5 grow at Roblox Corp's revenue growth rate over the last 4 fiscal years (51.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Roblox Corp company page