Latest Ratios: P/E Ratio 3.6x · EV/EBITDA 6.8x · ROE 39.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17.5B | $20.4B | $16.5B | $24.5B | $23.7B | $24.1B | $23.6B | $25.5B | $26.4B | $26.2B | $19.9B |
| Enterprise Value | $47.7B | $63.2B | $63.2B | $68.9B | $60.0B | $46.2B | $42.3B | $44.9B | $42.5B | $42.7B | $36.9B |
| P/E Ratio → | 3.63 | 2.96 | 9.60 | 28.90 | 14.11 | 15.51 | 14.88 | 12.48 | 12.81 | 14.27 | 23.81 |
| P/S Ratio | 1.15 | 0.94 | 0.80 | 1.27 | 1.54 | 1.64 | 1.69 | 2.19 | 1.75 | 1.83 | 1.45 |
| P/B Ratio | 1.03 | 0.84 | 1.58 | 2.35 | 2.35 | 2.29 | 2.46 | 2.71 | 3.23 | 4.13 | 3.77 |
| P/FCF | — | — | 10.92 | — | 17.29 | — | 12.08 | — | 18.28 | 18.18 | 12.74 |
| P/OCF | 4.12 | 3.37 | 2.90 | 4.70 | 5.28 | 5.79 | 5.46 | 5.63 | 6.16 | 6.66 | 5.02 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.91 | 3.07 | 3.57 | 3.90 | 3.15 | 3.04 | 3.86 | 2.82 | 2.97 | 2.69 |
| EV / EBITDA | 6.85 | 6.39 | 6.53 | 7.97 | 9.29 | 7.76 | 7.42 | 9.26 | 7.04 | 7.67 | 7.23 |
| EV / EBIT | 13.52 | 6.42 | 14.27 | 20.15 | 16.24 | 15.71 | 14.04 | 16.23 | 12.08 | 13.08 | 19.35 |
| EV / FCF | — | — | 41.91 | — | 43.75 | — | 21.69 | — | 29.46 | 29.58 | 23.68 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.1% | 23.1% | 46.7% | 44.4% | 41.5% | 40.2% | 42.1% | 24.7% | 39.6% | 38.3% | 36.7% |
| Operating Margin | 23.1% | 23.1% | 24.3% | 23.1% | 24.8% | 22.5% | — | 24.7% | 25.0% | 23.4% | 20.1% |
| Net Profit Margin | 31.8% | 31.8% | 8.4% | 4.4% | 10.9% | 10.6% | 11.4% | 13.6% | 13.6% | 12.8% | 6.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 39.7% | 39.7% | 16.6% | 8.3% | 16.3% | 15.5% | 16.8% | 17.9% | 28.3% | 31.8% | 15.2% |
| ROA | 8.5% | 8.5% | 2.5% | 1.4% | 3.4% | 3.9% | 4.2% | 4.6% | 6.8% | 6.5% | 2.9% |
| ROIC | 6.1% | 6.1% | 6.7% | 6.6% | 7.2% | 8.1% | — | 8.1% | 12.0% | 11.2% | 9.0% |
| ROCE | 7.5% | 7.5% | 8.4% | 8.4% | 9.6% | 10.1% | — | 10.2% | 16.0% | 14.8% | 11.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.82 | 1.82 | 4.58 | 4.33 | 3.64 | 2.17 | 2.22 | 2.12 | 2.02 | 2.53 | 3.22 |
| Debt / EBITDA | 4.46 | 4.46 | 4.92 | 5.22 | 5.69 | 3.84 | 3.72 | 4.11 | 2.74 | 2.88 | 3.32 |
| Net Debt / Equity | — | 1.77 | 4.49 | 4.25 | 3.60 | 2.10 | 1.96 | 2.06 | 1.97 | 2.59 | 3.23 |
| Net Debt / EBITDA | 4.33 | 4.33 | 4.83 | 5.13 | 5.62 | 3.72 | 3.29 | 4.01 | 2.67 | 2.96 | 3.34 |
| Debt / FCF | — | — | 30.99 | — | 26.46 | — | 9.62 | — | 11.18 | 11.41 | 10.93 |
| Interest Coverage | 4.41 | 4.41 | 1.94 | 1.66 | 3.02 | 3.51 | 3.51 | 3.33 | 4.97 | 4.34 | 2.51 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.61 | 0.61 | 0.66 | 0.89 | 2.02 | 0.68 | 1.05 | 0.86 | 0.72 | 0.44 | 0.50 |
| Quick Ratio | 0.57 | 0.57 | 0.61 | 0.84 | 1.97 | 0.61 | 0.98 | 0.78 | 0.65 | 0.39 | 0.44 |
| Cash Ratio | 0.09 | 0.09 | 0.07 | 0.10 | 0.12 | 0.10 | 0.38 | 0.08 | 0.06 | 0.06 | 0.02 |
| Asset Turnover | — | 0.24 | 0.29 | 0.28 | 0.28 | 0.35 | 0.36 | 0.31 | 0.47 | 0.50 | 0.48 |
| Inventory Turnover | 30.35 | 30.35 | 17.14 | 23.52 | 20.55 | 16.39 | 16.82 | 19.03 | 19.56 | 28.33 | 27.53 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.2% | 5.1% | 4.5% | 3.9% | 4.3% | 4.2% | 4.3% | 4.0% | 3.7% | 3.8% | 5.0% |
| Payout Ratio | 15.2% | 15.2% | 42.6% | 113.1% | 60.1% | 64.8% | 63.5% | 64.5% | 48.0% | 53.6% | 118.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 27.6% | 33.7% | 10.4% | 3.5% | 7.1% | 6.4% | 6.7% | 8.0% | 7.8% | 7.0% | 4.2% |
| FCF Yield | — | — | 9.2% | — | 5.8% | — | 8.3% | — | 5.5% | 5.5% | 7.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.6% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.2% | 5.1% | 4.5% | 3.9% | 4.3% | 4.2% | 4.3% | 6.6% | 3.7% | 3.8% | 5.0% |
| Shares Outstanding | — | $541M | $536M | $524M | $506M | $506M | $506M | $513M | $515M | $515M | $515M |
High leverage and integration
According to current market data, Rogers trades at a forward P/E of 10.57, which, when compared to the historical volatility of its earnings, suggests that investors are heavily discounting the company's ability to realize synergies from the Shaw acquisition while managing its significant debt-servicing obligations.
The low P/E multiple relative to broader market averages appears to reflect a 'conglomerate discount' rather than a value opportunity, as the market remains wary of the company's complex capital structure. Investors should monitor whether the forward earnings estimates adequately account for the ongoing integration costs that have historically obscured true operational profitability.
Based on reported financial figures, the company's ROIC has languished at approximately 0.9% to 1.8% over the last ten quarters, indicating that the massive capital outlays for spectrum and the Shaw integration have yet to generate returns that exceed the company's likely weighted average cost of capital.
The persistent gap between invested capital and returns suggests that the firm is currently in a value-destructive phase of its lifecycle. This trend warrants further investigation into whether the current asset base is overvalued on the balance sheet or if the competitive intensity in the Canadian market is structurally preventing adequate margin expansion.
As reported in recent quarterly filings, the company's cash conversion cycle has shifted from negative values in 2025 to a positive 16 days in 2026Q1, suggesting that the firm is losing its ability to leverage supplier payment terms to offset the capital-intensive nature of its wireless and cable operations.
The lengthening of the cash conversion cycle, driven by rising days sales outstanding, implies that the company may be facing increased difficulty in collecting receivables from its customer base. This shift suggests a potential deterioration in customer credit quality or a change in billing cycles that could further pressure liquidity in the coming quarters.
Based on the 2026Q1 current ratio of 0.55, Rogers maintains a thin liquidity buffer that appears inadequate for a firm of its scale, especially when compared to the more robust liquidity positions typically maintained by its primary domestic peers in the telecommunications sector.
The reliance on external credit facilities to manage short-term obligations leaves the company vulnerable to interest rate volatility and potential credit market tightening. Investors should monitor the company's ability to refinance upcoming debt maturities, as the current liquidity profile offers little margin for error in the event of an operational downturn.
The P/E ratio is frequently misapplied to Rogers, as it fails to account for the massive non-cash depreciation and amortization charges inherent in a capital-intensive telecommunications business, thereby masking the company's true ability to generate cash flow for debt reduction and dividend sustainability.
Analysts should prioritize EV/EBITDA or FCF-based metrics to better understand the company's operational health, as these measures strip away the accounting noise created by recent acquisitions. Relying on P/E in this context risks ignoring the significant leverage and capital intensity that define the company's actual risk profile.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying RCI stock.
Rogers Communications Inc.'s current P/E ratio is 3.6x. The historical average is 18.0x. This places it at the 8th percentile of its historical range.
Rogers Communications Inc.'s current EV/EBITDA is 6.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.8x.
Rogers Communications Inc.'s return on equity (ROE) is 39.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 17.0%.
Based on historical data, Rogers Communications Inc. is trading at a P/E of 3.6x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Rogers Communications Inc.'s current dividend yield is 4.19% with a payout ratio of 15.2%.
Rogers Communications Inc. has 23.1% gross margin and 23.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Rogers Communications Inc.'s Debt/EBITDA ratio is 4.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.