Rogers Communications Inc. (RCI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.13	$1.15	+1.8%	—	—	—
Q3 26	$1.02	$1.01	-1.0%	—	—	—
Q2 26	$1.4	$1.51	+7.9%	—	—	—
Q1 26	$1.24	$1.37	+10.5%	—	—	—
Q4 25	$1.1	$1.14	+3.6%	—	—	—
Q3 25	$1.01	$0.99	-2.0%	—	—	—
Q2 25	$1.32	$1.46	+10.6%	—	—	—
Q1 25	$1.34	$1.42	+6.0%	—	—	—
Q4 24	$1.14	$1.16	+1.8%	—	—	—
Q3 24	$0.98	$0.99	+1.0%	—	—	—
Q2 24	$1.11	$1.19	+7.2%	—	—	—
Q1 24	$1.13	$1.27	+12.4%	—	—	—
Q4 23	$1.13	$1.02	-9.7%	—	—	—
Q3 23	$0.96	$1.09	+13.5%	—	—	—
Q2 23	$0.99	$1.09	+10.1%	—	—	—
Q1 23	$0.86	$0.84	-2.3%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$12.8	—	—	$21.7B	—
FY24	—	$3.25	—	—	$15.2B	—
FY23	—	$1.62	—	—	$19.3B	—
FY22	—	$3.33	—	—	$15.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$13.7B	$14.4B	$15.1B	$15.1B	$13.9B	$14.7B	$15.4B	$19.3B	$15.2B	$21.7B
YoY change	+2.15%	+4.87%	+5.06%	-0.15%	-7.68%	+5.31%	+5.06%	+25.4%	-21.1%	+42.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	13.7B	14.4B	15.1B	15.1B	13.9B	14.7B	15.4B	19.3B	15.2B	21.7B
Cost of revenue	8.7B	8.9B	9.1B	8.9B	8.1B	8.8B	9B	10.7B	8.1B	11.9B
Gross profit	5B	5.5B	6B	6.2B	5.9B	5.9B	6.4B	8.6B	7.1B	9.8B
Gross margin	36.7%	38.3%	39.6%	41.2%	42.1%	40.2%	41.5%	44.4%	46.7%	45.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.1B	2.1B	2.1B	2B	1.8B	2.2B	—	—	—	—
Operating expenses	2.1B	2.1B	2.1B	2B	1.8B	2.2B	—	—	—	—
Operating income	2.8B	3.4B	3.8B	3.7B	3.2B	3.3B	3.8B	4.5B	3.7B	5B
Operating margin	20.1%	23.4%	25%	24.7%	23.3%	22.5%	24.8%	23.1%	24.3%	23.1%
Non-operating income, net	-832M	-76M	-231M	-149M	-196M	-330M	-296M	-1B	-308.5M	4.8B
Pretax income	1.2B	2.5B	2.8B	2.8B	2.2B	2.1B	2.3B	1.4B	1.7B	7.6B
Income tax	324M	685M	758M	712M	580M	569M	609M	517M	423.1M	720M
Net income	835M	1.8B	2.1B	2B	1.6B	1.6B	1.7B	849M	1.3B	6.9B
Net margin	6.09%	12.8%	13.6%	13.6%	11.4%	10.6%	10.9%	4.4%	8.42%	31.8%
EBITDA	4.9B	5.6B	6B	6.2B	5.9B	5.9B	6.6B	8.2B	7.1B	14.8B
EPS	1.62	3.58	4	3.99	3.15	3.09	3.33	1.62	3.25	12.8
Diluted EPS	1.62	3.57	3.99	3.97	3.13	3.07	3.32	1.62	3.2	12.7

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.1B	5.3B	4.9B	5.1B	3.7B	4.1B	5B	5.2B	5.3B	6.2B	5.5B	5.6B
Cost of revenue	2.7B	3B	2.7B	2.8B	1.8B	2.2B	2.7B	2.9B	2.8B	3.5B	3.1B	3.2B
Gross profit	2.4B	2.3B	2.2B	2.3B	1.8B	1.9B	2.3B	2.4B	2.5B	2.7B	2.4B	2.4B
Gross margin	47.3%	43.7%	45.2%	45.7%	49.6%	46.2%	45.3%	45.3%	47%	43.6%	43.1%	43.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	1.3B	1.2B	1.1B	1.2B	988.8M	1B	1.1B	1.2B	1.3B	1.5B	1.1B	1.2B
Operating margin	24.6%	21.7%	21.7%	23.3%	27.1%	24.8%	21.9%	22.6%	24%	23.8%	20.9%	22.2%
Non-operating income, net	-646M	-51M	-161M	-91M	-63.4M	-57M	-131M	-306M	5.3B	-15M	65M	-1.2B
Pretax income	12M	522M	335M	528M	517.9M	529.7M	380M	321M	6B	905M	655M	-517M
Income tax	111M	194M	79M	134M	143.2M	116.9M	100M	173M	212M	235M	173M	148M
Net income	-99M	328M	256M	394M	374.7M	412.8M	280M	148M	5.8B	670M	482M	-665M
Net margin	-1.94%	6.15%	5.22%	7.74%	10.3%	10.2%	5.63%	2.84%	108.6%	10.9%	8.79%	-11.8%
EBITDA	2B	2.3B	2.2B	2.3B	1.8B	1.9B	2.2B	2.4B	7.5B	2.6B	2.4B	2.5B
EPS	-0.19	0.62	0.48	0.74	0.99	1.04	0.52	0.29	10.7	1.38	0.81	-1.34
Diluted EPS	-0.2	0.62	0.46	0.73	0.98	1.02	0.5	0.29	10.6	1.37	0.8	-1.37

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	28.9B	38.1B	38.4B	37B	34.2B	34.9B	34.3B	35.2B	—	—	17B
Enterprise value	45.8B	54.1B	54.5B	56.4B	53B	57.1B	70.6B	79.6B	—	—	47.5B
Shares outstanding	748.3M	748.3M	748.3M	743.9M	733.8M	733.8M	733M	751.2M	394.7M	539.9M	539.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	34.6	20.7	18.6	18.1	21.5	22.4	20.4	41.4	—	—	3.96
P/S	2.11	2.65	2.54	2.45	2.46	2.38	2.23	1.82	—	—	0.76
P/B	4.59	5.08	4.69	3.92	3.57	3.32	3.4	3.37	—	—	1.44
EV/EBITDA	9.41	9.74	9.05	9.03	9.03	9.7	10.7	9.65	—	—	7.05
EV/Sales	3.34	3.77	3.61	3.74	3.81	3.89	4.59	4.12	—	—	2.97
Earnings yield	2.89%	4.84%	5.37%	5.53%	4.66%	4.46%	4.89%	2.41%	—	—	25.3%
FCF yield	5.4%	3.79%	3.76%	4.49%	5.71%	3.77%	3.99%	3.14%	—	—	31.6%
PEG	—	—	—	—	—	—	—	—	—	—	-0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	36.7%	38.3%	39.6%	41.2%	42.1%	40.2%	41.5%	44.4%	46.7%	45.2%	43.5%
Operating margin	20.1%	23.4%	25%	24.7%	23.3%	22.5%	24.8%	23.1%	24.3%	23.1%	22.2%
Net margin	6.09%	12.8%	13.6%	13.6%	11.4%	10.6%	10.9%	4.4%	8.42%	31.8%	27.3%
ROE	13.3%	24.6%	25.2%	21.7%	16.6%	14.8%	16.6%	8.13%	16.7%	28.4%	30.9%
ROA	2.8%	6.05%	6.45%	5.52%	4.1%	3.71%	3.02%	1.23%	2.43%	7.67%	3.84%
ROIC	8.54%	10.4%	11.3%	9.57%	8.38%	7.41%	6.04%	5.05%	6.58%	6.77%	6.86%
Return on tangible assets	10.8%	22.5%	21.2%	18%	12.2%	16.7%	7.28%	91.3%	55.3%	-88%	-86.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.7	0.6	0.72	0.86	1.05	0.68	2.02	0.89	0.66	0.61	0.55
Quick ratio	0.61	0.54	0.65	0.78	0.98	0.61	1.97	0.84	0.61	0.57	0.51
Debt / equity	2.7	2.14	2.02	2.12	2.22	2.17	3.64	4.33	4.58	1.82	2
Debt / assets	0.57	0.53	0.52	0.54	0.55	0.54	0.66	0.65	0.67	0.49	0.51
Net debt / EBITDA	3.48	2.88	2.68	3.11	3.2	3.76	5.5	5.39	4.9	2.9	2.93
Interest coverage	2.55	4.45	5.01	4.45	3.57	3.61	2.63	1.67	2.09	4.68	4.42
Effective tax rate	28%	27.1%	26.9%	25.8%	26.7%	26.8%	26.6%	37.8%	24.8%	9.44%	10.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	18.3	19.2	20.2	20.3	19	20	21	25.7	38.6	40.2	41.8
EPS (basic)	1.62	3.58	4	3.99	3.15	3.09	3.33	1.62	3.25	12.8	12.8
EPS (diluted)	1.62	3.57	3.99	3.97	3.13	3.07	3.32	1.62	3.2	12.7	8.06
Book value per share	8.4	10	10.9	12.7	13	14.4	13.8	13.9	19.5	45	22.2
FCF per share	2.08	1.93	1.93	2.23	2.66	1.8	1.87	1.47	2.83	3.87	4.49
Cash per share	0	0	0.54	0.66	3.39	0.97	0.63	1.06	1.68	2.49	3.76
Capex per share	3.14	—	—	—	—	—	0	0.14	0.11	7.16	6.59

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	17.2%	—	—	—	—	—	0%	0.56%	0.29%	17.8%	15.7%
Capex / operating cash flow	54.5%	—	—	—	—	—	0%	1.55%	0.7%	63.8%	57.6%
Payout ratio	118.3%	53.6%	48%	49.7%	63.5%	64.8%	60.1%	113.1%	42.6%	13.2%	17.5%
Dividend yield	3.42%	2.59%	2.58%	2.75%	2.96%	2.89%	2.94%	2.73%	—	—	4.61%

Yield

4.61%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.362

ex-dividend Sep 8, 2026

Payout ratio

18%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$0.362
Jun 9, 2026	$0.358
Mar 10, 2026	$0.368

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.1B	$5.3B	$4.9B	$5.1B	$3.7B	$4.1B	$5B	$5.2B	$5.3B	$6.2B	$5.5B	$5.6B
YoY change	+36%	+28.1%	+27.8%	+0.93%	-28.2%	-24%	+1.53%	+2.42%	+46.4%	+52.2%	+10.2%	+7.65%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	0	0	405M	494M	2.5B	715M	463M	800M	664.3M	1.3B
Receivables	1.9B	1.4B	1.5B	2.4B	2.9B	3.8B	4.2B	5B	4.1B	6.1B
Inventory	452M	435M	466M	460M	479M	535M	438M	456M	474.2M	550M
Total current assets	3.6B	4.1B	4.9B	5.1B	6.9B	5.8B	19.3B	7.8B	6.2B	9.5B
Property, plant & equipment	10.7B	11.1B	11.8B	13.9B	14B	14.7B	15.6B	24.3B	18.5B	26.3B
Goodwill & intangibles	22.1B	22.3B	22.2B	25.7B	25.8B	32.6B	32.6B	68.4B	50.5B	97.9B
Total assets	29.8B	30.5B	31.9B	37B	38.9B	42B	55.7B	69.3B	52.8B	90B
Accounts payable	2.8B	2.9B	3.1B	3B	2.7B	3.4B	3.7B	4.2B	3B	4.8B
Short-term debt	1.6B	3.3B	3.2B	2.5B	2.9B	4.1B	5.2B	3.4B	5.4B	5.9B
Total current liabilities	5.2B	6.9B	6.8B	6B	6.6B	8.6B	9.5B	8.8B	9.3B	15.7B
Long-term debt	15.3B	12.7B	13.4B	17.5B	18.3B	18.8B	31.6B	41.8B	29.9B	38.3B
Total liabilities	23.5B	23B	23.7B	27.6B	29.3B	31.4B	45.6B	58.8B	45.1B	65.7B
Shareholders' equity	6.3B	7.5B	8.2B	9.4B	9.6B	10.5B	10.1B	10.4B	7.7B	24.3B
Total debt	17B	16B	16.5B	19.9B	21.3B	22.8B	36.7B	45.2B	35.2B	44.2B
Net debt	17B	16B	16.1B	19.4B	18.8B	22.1B	36.3B	44.4B	34.6B	42.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.5B	800M	764M	451M	571.3M	664.3M	2.7B	7B	1.5B	1.3B	1.4B	1.7B
Receivables	4.3B	5B	4.8B	4.9B	3.5B	4.1B	5.2B	5.4B	5.6B	6.1B	5.7B	5.7B
Inventory	462M	456M	506M	512M	336.2M	474.2M	562M	549M	481M	550M	461M	553M
Total current assets	8.8B	7.8B	7.6B	7.1B	5.3B	6.2B	9.9B	14.1B	9.4B	9.5B	9.3B	9.8B
Property, plant & equipment	—	24.3B	—	—	—	18.5B	—	—	—	26.3B	—	—
Goodwill & intangibles	69.3B	68.4B	68.1B	68.8B	48.8B	50.5B	68B	67.7B	98.2B	97.9B	97.9B	97.6B
Total assets	71.8B	69.3B	69.4B	69.3B	49.7B	52.8B	73.1B	77.2B	89.6B	90B	90B	90.3B
Accounts payable	3.8B	4.2B	3.8B	3.6B	2.7B	3B	3.6B	3.9B	4.4B	4.8B	4.5B	4.4B
Short-term debt	5.1B	3.4B	5B	6.2B	4.3B	5.4B	5B	3.2B	5.8B	5.9B	7.6B	7.8B
Total current liabilities	9.8B	8.8B	9.9B	11B	7.7B	9.3B	10B	8.3B	15.1B	15.7B	16.9B	18B
Long-term debt	43.4B	41.8B	41.1B	40.1B	28.4B	29.9B	44.4B	42.2B	39.1B	38.3B	37.2B	37.9B
Total liabilities	60.8B	58.8B	58.8B	58.7B	41.7B	45.1B	62.5B	59.3B	66B	65.7B	65.6B	67.5B
Shareholders' equity	11B	10.4B	10.6B	10.6B	8B	7.7B	10.6B	17.9B	23.6B	24.3B	24.3B	22.9B
Total debt	48.5B	45.2B	46.1B	46.3B	32.7B	35.2B	49.4B	45.4B	45B	44.2B	44.8B	45.7B
Net debt	45.9B	44.4B	45.3B	45.9B	32.1B	34.6B	46.7B	38.4B	43.5B	42.8B	43.4B	44B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	835M	1.8B	2.1B	2B	1.6B	1.6B	1.7B	849M	1.3B	6.9B
Depreciation & amortization	2.3B	2.2B	2.3B	2.6B	2.7B	2.7B	2.6B	4.2B	3.5B	4.9B
Stock-based compensation	61M	61M	—	—	—	—	—	—	—	—
Change in working capital	-186M	-173M	-217M	-523M	-7M	-519M	-188M	-638M	-493.4M	-571M
Operating cash flow	4.3B	5.3B	5.3B	5.7B	5.8B	5.1B	5.9B	7B	6.2B	6.1B
Capital expenditure	-2.4B	—	—	—	—	—	0	108M	43.6M	-3.9B
Investing cash flow	-2.4B	-135M	-100M	-1.7B	-189M	-3.3B	-141M	-16.1B	-209.3M	-8.3B
Dividends paid	-988M	-988M	-988M	-1B	-1B	-1B	-1B	-960M	-546.7M	-913M
Share repurchases	—	—	0	-655M	0	—	—	—	—	—
Financing cash flow	-1.9B	-11.6B	-20.4B	-17.5B	-5.3B	-3.7B	816M	-4.6B	-17.8M	6.1B
Net change in cash	31M	-6.5B	-15.2B	-13.5B	336M	-1.9B	6.6B	-13.8B	6B	3.9B
Free cash flow	1.6B	1.4B	1.4B	1.7B	2B	1.3B	1.4B	1.1B	1.1B	2.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-99M	328M	256M	394M	374.7M	412.8M	280M	148M	5.8B	670M	482M	-665M
Depreciation & amortization	1.2B	1.2B	1.2B	1.2B	833.5M	876.6M	1.2B	1.2B	1.2B	1.2B	1.3B	1.2B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-199M	-446M	121M	4M	-30.6M	-554.1M	270M	-191M	75M	-725M	257M	-80M
Operating cash flow	1.5B	1.8B	2.2B	2.2B	1.7B	1.2B	2.4B	1.9B	1.5B	1.7B	1.5B	1.5B
Capital expenditure	90M	0	—	—	—	—	—	—	-964M	-1.1B	-808M	-695M
Investing cash flow	177M	739M	5M	-429M	-50.6M	113.2M	13M	-61M	-5.5B	-889M	-1B	-784M
Dividends paid	-264M	-191M	-190M	-182M	-132.5M	-133.9M	-185M	-188M	-270M	-270M	-270M	-270M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-640M	-5.4B	-1B	-1.5B	-1.8B	6.2B	-1.3B	3.1B	1.5B	-77M	-3.9B	-2.1B
Net change in cash	1.1B	-2.9B	1.2B	274M	-141M	7.5B	1.1B	4.9B	-2.5B	686M	-3.4B	-1.4B
Free cash flow	717M	416M	109M	463M	629M	39.2M	294M	741M	530M	526M	589M	779M

Rogers Communications Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history