What is ROAS (Return On Ad Spend)? — Meta Ads Glossary — details
ROAS is calculated as revenue attributed to ads divided by ad spend, commonly shown as a multiple (a 4x ROAS means $4 of revenue per $1 spent). Meta reports it per campaign, ad set, and ad using its own attribution model, which can diverge meaningfully from a business's actual profit picture because it doesn't account for product cost, refunds, or discounts.
At high spend levels, a single blended ROAS figure hides a lot: a 3x ROAS ecommerce account might be losing money on thin-margin products while an igaming account at 1.5x ROAS on deposits is highly profitable due to lifetime revenue from repeat play. Power Ads reviews ROAS alongside MER and vertical-specific unit economics rather than as a standalone target.
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