Roku (NASDAQ: ROKU) minted a lot of millionaires in its first four years as a public company. The streaming device and software maker went public at $14 on Sept. 28, 2017, and it soared 3,325% to its all-time high of $479.50 on July 26, 2021. A $30,000 investment in its IPO would have blossomed to $1.03 million.

Roku and Shopify both grew rapidly during the pandemic's height. But those tailwinds faded, and rising rates popped their bubbly valuations. One of these companies has a brighter future. But both companies struggled as those temporary tailwinds dissipated.

Roku shares dipped sharply after posting Q3 results, owing to a less-than-optimistic adjusted EBITDA outlook for Q4. Read why I remain bullish on ROKU stock.

Today, Roku stock trades at a market cap of $9 billion, which is a five-year forward price-to-earnings ratio (P/E) of 15. While cheap, it is not that much lower than the long-term market average. Unless Roku's stock trades at a premium earnings ratio in five years, the stock won't be much higher in five years based on these estimates.