Roku Inc. shares have lagged the S&P 500 in 2021, dropping 26 percent year-to-date. Roku’s stock has had a wild ride in recent years, but investors may be wondering whether there’s any value in Roku shares after the sell-off. Earnings A price-to-earnings ratio (PE) is one of the most basic fundamental metrics for gauging a stock’s value. The lower the PE, the higher the value. For comparison, the S&P 500’s PE is currently at about 29.4, nearly double its long-term average of 15.9. Roku’s PE is 133.3, more than four times the S&P 500 average as a whole. Growth Looking ahead to the next four quarters, the S&P 500’s forward PE ratio looks much more reasonable at just 21.4. Roku’s forward earnings multiple of 168.6 is more than seven times higher than the S&P 500’s, making Roku look overvalued. Roku’s forward PE ratio is also more than seven times higher …