Rogers Corp. (ROG)
NYSE:ROG
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Rogers
(NYSE:ROG)
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Rating:64Neutral
Price Target:
$143.00
▲(16.89% Upside)
Action:Reiterated
Date:05/20/26
The score is anchored by a strong, low-leverage balance sheet and generally positive cash generation, alongside constructive technical trends and improved profitability guidance. It is held back by weak recent earnings quality (net losses in 2025 and TTM) and a very high P/E that leaves limited room for execution missteps, especially given automotive softness and cash-flow volatility.
Positive Factors
Strong balance sheet
Very low leverage and sizable equity provide a durable financial cushion to fund capex, restructuring and R&D, absorb demand shocks, and pursue selective investments or M&A. This preserves liquidity and downside protection while management executes multi-quarter improvement plans.
Negative Factors
Persistent net losses
Negative net income across recent periods means returns remain impaired despite stronger gross margins. Continued losses pressure ROE and limit discretionary capital allocation, requiring sustained margin and revenue improvement to restore consistent profitability and shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Very low leverage and sizable equity provide a durable financial cushion to fund capex, restructuring and R&D, absorb demand shocks, and pursue selective investments or M&A. This preserves liquidity and downside protection while management executes multi-quarter improvement plans.
Read all positive factors
Rogers Key Performance Indicators (KPIs)
Rogers (ROG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.37B
Dividend YieldN/A
Average Volume (3M)260.79K
Price to Earnings (P/E)109.7
Beta (1Y)1.05
Revenue Growth1.68%
EPS Growth-431.99%
CountryUS
Employees3,200
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-3.03
Shares Outstanding17,848,536
10 Day Avg. Volume274,330
30 Day Avg. Volume260,790
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.41
Price to Sales (P/S)2.08
P/FCF Ratio23.70
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue2.70
Enterprise Value/Gross Profit8.57
Enterprise Value/Ebitda20.63
Forecast
1Y Price Target
$165.00Price Target Upside34.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.24
Revenue Forecast (FY)$864.13M
Rogers Business Overview & Revenue Model
Company Description
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers...
How the Company Makes Money
Rogers primarily makes money by charging recurring service fees to consumers and businesses across its communications platforms, supplemented by equipment sales/financing and media-related revenue. Key revenue streams typically include: (1) Wirele...
Rogers Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed clear operational and commercial progress: revenue growth, significant margin expansion, strong design-win momentum, and a credible multi-year cost-savings path (cumulative run-rate savings ~ $45M). Management issued constructive Q2 guidance with continued margin improvement and outlined R&D and commercialization opportunities (notably in data centers and automotive). Offsetting risks include near-term impacts from weather and supplier disruptions, automotive softness (especially U.S. EV and China near-term weakness), lower operating cash flow in the quarter, restructuring charges, and the fact that data center revenues remain largely prospective and timing-dependent. Overall, the positives in profitability improvement, guidance, design wins and cost savings outweigh the near-term operational and market headwinds.Positive Updates
Revenue Growth in Q1
Q1 sales of $201 million, up 5% year-over-year (includes a $7.9 million foreign currency benefit). Management said sales would have been higher absent weather and supplier disruptions.
Negative Updates
Operational Disruptions Tempered Q1 Sales
Adverse weather and multiple supplier disruptions impacted some U.S. plants, preventing Q1 sales from reaching the high end of prior guidance; management indicated these disruptions reduced near-term revenue.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth in Q1
Q1 sales of $201 million, up 5% year-over-year (includes a $7.9 million foreign currency benefit). Management said sales would have been higher absent weather and supplier disruptions.
Read all positive updates
Company Guidance
Rogers guided Q2 revenues of $210–$220 million (midpoint $215M, ~6% YoY), gross margin of 32.5%–33.5% (midpoint +140 bps YoY), adjusted operating expenses roughly flat to Q1, adjusted EBITDA of $35–$41 million (midpoint $38M, ~17.7% margin, ~590 bps improvement vs Q2 2025) and adjusted EPS of $0.90–$1.10 (midpoint $1.00 vs $0.34 in Q2 2025). They reiterated full‑year 2026 capex of $30–$40M (midpoint $35M), a non‑GAAP tax rate of ~30%, and noted Curamik restructuring charges (Q1 $4.4M; $9.8M recognized to date of an estimated $12–$13M) are excluded from adjusted EPS, with remaining charges largely in Q2–Q3 and $13M of annualized run‑rate savings expected by Q4.Rogers Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
78
Positive
Cash Flow
69
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 813.20M | 810.80M | 830.10M | 908.40M | 971.20M | 932.90M |
| Gross Profit | 256.80M | 256.80M | 277.10M | 307.10M | 321.00M | 349.10M |
| EBITDA | 106.60M | 7.80M | 98.30M | 127.50M | 113.10M | 169.90M |
| Net Income | -55.90M | -61.80M | 26.10M | 56.60M | 116.60M | 108.10M |
Balance Sheet | ||||||
| Total Assets | 1.43B | 1.43B | 1.48B | 1.52B | 1.65B | 1.60B |
| Cash, Cash Equivalents and Short-Term Investments | 195.80M | 197.00M | 159.80M | 131.70M | 235.90M | 232.30M |
| Total Debt | 21.50M | 39.70M | 24.60M | 50.00M | 228.50M | 190.41M |
| Total Liabilities | 233.80M | 234.20M | 229.50M | 258.20M | 473.70M | 479.67M |
| Stockholders Equity | 1.19B | 1.20B | 1.25B | 1.26B | 1.17B | 1.12B |
Cash Flow | ||||||
| Free Cash Flow | 100.20M | 71.10M | 71.00M | 74.40M | 12.70M | 53.30M |
| Operating Cash Flow | 95.30M | 101.20M | 127.10M | 131.40M | 129.50M | 124.40M |
| Investing Cash Flow | -23.20M | -14.80M | -45.60M | -47.90M | -113.10M | -238.60M |
| Financing Cash Flow | -53.90M | -53.90M | -50.10M | -190.30M | -10.10M | 159.00M |
Rogers Technical Analysis
Neutral
122.34
Price Trends
120.25
Positive
110.98
Positive
96.71
Positive
Market Momentum
4.25
Positive
52.73
Neutral
15.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ROG, the sentiment is Neutral. The current price of 122.34 is below the 20-day moving average (MA) of 135.56, above the 50-day MA of 120.25, and above the 200-day MA of 96.71, indicating a neutral trend. The MACD of 4.25 indicates Positive momentum. The RSI at 52.73 is Neutral, neither overbought nor oversold. The STOCH value of 15.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ROG.
Rogers Risk Analysis
Rogers disclosed 23 risk factors in its most recent earnings report. Rogers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rogers Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $12.04B | 88.57 | 20.22% | ― | 15.59% | 491.65% | |
74 Outperform | $1.70B | 19.92 | 12.53% | 0.36% | 7.80% | 18.75% | |
67 Neutral | $2.42B | 7.25 | 9.21% | ― | 2.27% | ― | |
64 Neutral | $2.37B | 109.72 | -4.66% | ― | 1.68% | -431.99% | |
62 Neutral | $2.99B | 38.49 | 3.10% | 1.44% | 3.53% | -34.92% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $384.42M | -4.46 | -9.42% | 5.93% | -8.43% | 30.33% |
* Technology Sector Average
ROG
Rogers
133.00
66.37
99.61%
BHE
Benchmark Electronics
83.45
47.64
133.00%
CTS
CTS
59.41
18.56
45.43%
MEI
Methode Electronics
10.85
3.72
52.15%
VICR
Vicor
264.20
222.73
537.09%
PENG
Penguin Solutions
47.63
29.53
163.15%
Rogers Corporate Events
Business Operations and StrategyExecutive/Board Changes
Rogers Appoints Ali El-Haj as Permanent CEO
Positive
May 19, 2026
On May 19, 2026, Rogers Corporation’s board appointed Ali El-Haj, previously the interim president and CEO, as president, chief executive officer and a member of the board, effective immediately. His compensation package includes a $750,000 ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Rogers Shareholders Approve 2026 ESPP and Board Slate
Positive
May 7, 2026
On May 6, 2026, Rogers Corporation shareholders approved the 2026 Employee Stock Purchase Plan, authorizing 200,000 new shares plus any remaining shares from the prior 2001 plan after the offering period ending June 15, 2026. The new plan, effecti...
Business Operations and StrategyFinancial Disclosures
Rogers Delivers Strong Q1 2026 Revenue and Profit Rebound
Positive
Apr 28, 2026
On April 28, 2026, Rogers Corporation reported first‑quarter 2026 net sales of $200.5 million, up 5.2% year over year, with gross margin improving to 32.2% and adjusted EBITDA rising to $32.0 million. The company turned a prior‑year lo...
Business Operations and StrategyExecutive/Board Changes
Rogers Announces Senior Executive Departure and Leadership Transition
Neutral
Mar 4, 2026
Rogers announced that Michael Webb, Senior Vice President and Chief Administrative Officer, will leave the company on March 13, 2026. He is slated to receive severance payments and benefits under the company’s Executive Severance Plan, conti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.