One-glance verdict
Within fair range
$142.28 our estimate vs market $124.96
Wall Street consensus: $183.33 (28.9% higher than our fair-value estimate)
12% below our estimate
Fundamentals snapshot
Rogers Corporation
ROG · NYQ · Technology · Electronic Components
Current price
$124.96
52-week range
$75.14 - $169.00
Market cap
$2.23B
Balance sheet
Healthy
43.42x Strong cushion
Net cash $182.90M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 1.2% last year.
- Reward Returns 2.6% on equity, ahead of 16% of its peers.
- Risk Stock trades 60.8% above its 5-year average P/E.
- Risk Insider ownership is only 1.2% (peer median: 1.7%).
What this company does
Rogers Corporation
Rogers Corporation makes special materials and parts used in things like electric cars and wireless devices. Most of their money comes from selling these advanced electronic materials. This is important because it shows where their main business and income are focused.
How the company got here
Rogers Corporation has a long history, starting in 1832 as a paper mill founded by Peter Rogers in Connecticut. Over nearly two centuries, the company has evolved significantly, moving from paper manufacturing to producing specialized materials. A key turning point was its diversification into plastics in the mid-20th century, followed by a strategic focus on advanced materials for electronics and other high-tech industries. The company went public on the New York Stock Exchange in 2000 and has since expanded its global presence through acquisitions and new facilities, positioning itself as a leader in engineered materials. In 2021, DuPont announced plans to acquire Rogers, though this deal was later terminated.
What it actually does
Rogers Corporation designs, develops, and manufactures engineered materials and components. These aren't everyday items you'd find in a typical store, but rather specialized materials that are crucial for the performance of advanced technologies. Think of them as the high-tech building blocks that make electronic devices, vehicles, and other complex systems work reliably and efficiently. The company's products are essential for applications requiring specific electrical, thermal, or mechanical properties.
Advanced Electronics Solutions (AES)
This segment is all about creating materials that help electronic devices perform better, especially when it comes to handling signals, managing power, and dealing with heat. They make things like circuit materials, which are the foundation for printed circuit boards, and cooling solutions that prevent electronic components from overheating. These materials are vital for industries like automotive (especially electric and hybrid vehicles), aerospace, defense, and wireless communications, where high performance and reliability are critical. This is a significant part of Rogers' business, contributing a substantial portion of its overall revenue.
Elastomeric Material Solutions (EMS)
The EMS segment focuses on creating flexible and resilient materials, primarily polyurethanes and silicones. These materials are used for cushioning, sealing, and managing vibrations in a wide range of products. For example, they are found in things like shock absorbers in vehicles, seals in electronic devices to protect them from moisture, and padding in footwear for comfort and impact protection. This segment serves diverse markets, including automotive, general industrial, and portable electronics, and represents another major revenue stream for the company.
Other
This smaller segment includes specialized elastomer components, such as those used for general industrial applications and specific components like elastomer floats for level sensing in fuel tanks. While not as large as the other two segments, it represents a niche area where Rogers provides tailored material solutions for specific industrial needs.
What management is betting on now
Rogers Corporation is focused on leveraging its expertise in advanced materials to capitalize on major technology trends. This includes the rapid growth in electric and hybrid vehicles, where their materials are essential for power electronics and thermal management. They are also investing in solutions for renewable energy, 5G wireless infrastructure, and advanced connectivity, aiming to provide the critical components that enable these next-generation technologies. The company's strategy revolves around innovation and developing materials that offer enhanced performance, reliability, and efficiency for their customers' demanding applications.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$8.80M
FY2024 Q3
$25.20M
FY2024 Q4
$18.30M
FY2025 Q1
$2.10M
FY2025 Q2
$5.60M
FY2025 Q3
$21.20M
FY2025 Q4
$42.20M
FY2026 Q1
$1.10M
Revenue
$200.50M
Net income
$4.50M
Diluted EPS
0.25
Operating cash flow
$5.80M
Free cash flow
$1.10M
Fetching…
Sources
Revenue
$201.50M
Net income
$4.60M
Diluted EPS
0.20
Operating cash flow
$46.90M
Free cash flow
$42.20M
Fetching…
Sources
Revenue
$216.00M
Net income
$8.60M
Diluted EPS
0.48
Operating cash flow
$28.90M
Free cash flow
$21.20M
Fetching…
Sources
Revenue
$202.80M
Net income
$-73.60M
Diluted EPS
-4.00
Operating cash flow
$13.70M
Free cash flow
$5.60M
Fetching…
Sources
Revenue
$190.50M
Net income
$-1.40M
Diluted EPS
-0.08
Operating cash flow
$11.70M
Free cash flow
$2.10M
Fetching…
Sources
Revenue
$192.20M
Net income
$-500.00K
Diluted EPS
-0.04
Operating cash flow
$33.70M
Free cash flow
$18.30M
Fetching…
Sources
Revenue
$210.30M
Net income
$10.70M
Diluted EPS
0.58
Operating cash flow
$42.40M
Free cash flow
$25.20M
Fetching…
Sources
Revenue
$214.20M
Net income
$8.10M
Diluted EPS
0.44
Operating cash flow
$22.90M
Free cash flow
$8.80M
Fetching…
Sources
Is it cheap or expensive?
Fair value $142.28 vs current price $124.96
Wall Street consensus is the average analyst price target: $183.33 (28.9% higher than our fair-value estimate).
Our most-likely fair value is $142.28 a share — about 13.9% away from today's price of $124.96, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net cash $182.9M - more cash than debt. Interest coverage 43.4x.
Net debt
$-182.90M
Interest coverage
43.42x
Rogers Corporation's profit covers its interest bill about 43.4 times over. which is stronger than every peer shown here.
Healthy
Worse cushion
Baseline
Better cushion
ROG
BASELINE
Rogers Corporation
Total debt $28.50M Interest coverage 43.42x This is the baseline the peer rows are being compared against.
Total debt $511.60M Interest coverage 3.69x -92% vs ROG Carries about 11.8x less debt cushion than ROG.
Total debt $34.26M Interest coverage 7.30x -83% vs ROG Carries about 5.9x less debt cushion than ROG.
Total debt $89.89M Interest coverage 19.50x -55% vs ROG Carries about 2.2x less debt cushion than ROG.
Total debt $1.10B Interest coverage 1.47x -97% vs ROG Carries about 29.5x less debt cushion than ROG.
Total debt $134.30M Interest coverage 5.64x -87% vs ROG Carries about 7.7x less debt cushion than ROG.
What you should know
The case for and against ROG
3 Rewards
2 Risks
Rewards
-
Revenue grew 1.2% last year.
-
Returns 2.6% on equity, ahead of 16% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 60.8% above its 5-year average P/E.
-
Insider ownership is only 1.2% (peer median: 1.7%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
72.65x
Forward P/E
27.46x
P/B
1.86x
P/S
2.67x
EV/EBITDA
15.92x
PEG ratio
0.52x
Profitability
How much profit each dollar creates
Gross margin
32.4%
Operating margin
9.5%
Net margin
3.7%
ROE
2.6%
ROA
3.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.02x
Current ratio
3.99x
Quick ratio
2.84x
Total debt
$28.50M
Total cash
$211.40M
Growth
How the business has been compounding
Revenue TTM
$820.80M
Revenue 5Y CAGR
-3.4%
EPS TTM
1.72
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$95.30M
Free CF TTM
$71.10M
FCF margin
8.7%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
1992-01-09