Rogers Sugar (RSI) AI Stock Analysis

• Market Cap: C$848.79M
• Dividend Yield: 5.99%
• Average Volume (3M): 252.41K
• Price to Earnings (P/E): 6.7
• Beta (1Y): 0.32
• Revenue Growth: 6.57%
• EPS Growth: 8.61%
• Country: CA
• Employees: 956
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 0.19
• Shares Outstanding: 128,215,740
• 10 Day Avg. Volume: 229,196
• 30 Day Avg. Volume: 252,409
• PEG Ratio: -6.45
• Price to Book (P/B): 1.78
• Price to Sales (P/S): 0.62
• P/FCF Ratio: 24.91
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$6.92
• Price Target Upside: 4.53% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.53
• Revenue Forecast (FY): C$1.25B

• Rating: 73 Outperform
• Price Target: C$7.00 ▲(5.74% Upside)
• Action: Upgraded Date: 02/07/26
• Date: Action: Upgraded 02/07/26

The score is driven primarily by improving fundamentals (stronger profitability and cash flow with moderating leverage) and supportive valuation (moderate P/E and high dividend yield). Technicals add a positive tailwind with the stock above key moving averages. The earnings call tempers the outlook due to volume/revenue pressure, trade uncertainty, and some nonrecurring benefits in recent results.

Positive Factors

Improving cash generation

Sustained improvement in operating cash flow and meaningful positive free cash flow provide durable funding for core capex, dividends and the LEAP project without immediate reliance on costly external financing. Strong OCF also builds resilience versus cyclical volume weakness and supports steady liquidity over the next 2–6 months.

Recovered profitability and margins

Consistent EBITDA and net earnings growth, alongside TTM gross margin expansion into the mid-teens and net margin near 6%, indicate the business has regained pricing discipline and cost control. Higher margins boost cash flow durability and improve the firm's ability to absorb modest cost increases or temporary volume dips over coming quarters.

LEAP expansion progressing

Progress on the LEAP refinery expansion is a structural positive: it modernizes capacity, should raise long-term efficiency and product flexibility, and management retains a stable cost estimate with a funding plan. A completed LEAP can sustainably improve margins and reduce unit costs over multiple years.

Negative Factors

Sugar volume and revenue pressure

Sugar is the core cash-generating segment; sustained volume and revenue declines reduce capacity utilization and leverage fixed costs. Guidance lowering full-year sugar sales and disrupted export channels mean top-line risk persists and could compress margins and cash flow if volumes do not stabilize.

Results benefited from one-time/timing items

Portions of recent outperformance were driven by nonrecurring timing and adjustments, which weakens the signal about operational trend strength. Relying on one-offs masks true sustainable earnings and complicates forecasting of recurring cash generation and dividend coverage over the medium term.

Meaningful leverage and moderate cash conversion

Leverage near one times and a sizeable absolute debt load limit financial flexibility, especially if volumes or margins deteriorate. Sub-100% cash conversion of earnings means working capital and capex absorb cash, increasing sensitivity to rising interest costs as LEAP funding is drawn down and reducing headroom for opportunistic investments.

Rogers Sugar Business Overview & Revenue Model

Company Description

Rogers Sugar Inc. engages in refining, packaging, and marketing sugar and maple products. The company operates through two segments, Sugar and Maple Products. It offers granulated, plantation raw, yellow, brown, organic, icing, maple, stevia, smart sweetener blend, and coconut sugar; and syrups, jam and jelly mixes, and iced tea mixes. The company markets its products to industrial, consumer, and liquid product markets under the Lantic name in Eastern Canada and Rogers name in Western Canada, as well as in the United States and internationally. Rogers Sugar Inc. is headquartered in Vancouver, Canada.

How the Company Makes Money

Rogers Sugar generates revenue primarily through the sale of sugar products to various sectors including food and beverage manufacturers, retail grocery stores, and foodservice operators. The company's revenue model is based on the production and refinement of sugar, which is then sold in bulk or packaged formats. Key revenue streams include the sale of granulated sugar, specialty sugar products, and liquid sweeteners. Additionally, Rogers Sugar benefits from significant long-term contracts with major customers, which provides stability to its earnings. The company also engages in strategic partnerships and collaborations to enhance its distribution capabilities and expand market reach, further contributing to its revenue.

Rogers Sugar Financial Statement Overview

Summary

Profitability and cash generation are improving (TTM net margin ~6.0%, OCF ~$165M, FCF ~$68.6M) and leverage has moderated (TTM debt-to-equity ~0.92). Offsetting factors include softer near-term revenue momentum (TTM revenue down ~1.9%), only moderate cash conversion (FCF ~42% of net income), and a still-meaningful debt load (~$437M TTM) that can limit flexibility.

Income Statement

Results show a clear recovery and improving profitability versus the 2022 loss year. Revenue rose strongly from 2021–2025 annual reports (with 2025 annual up ~7% and 2024 up ~12%), while margins expanded into TTM (Trailing-Twelve-Months) with gross margin ~15.8% and net margin ~6.0%. The main weakness is the near-term top-line softening in TTM (Trailing-Twelve-Months) revenue growth (down ~1.9%), suggesting growth has become less consistent even as profitability improved.

Balance Sheet

Leverage is moderate: debt is below equity in the latest periods (TTM (Trailing-Twelve-Months) debt-to-equity ~0.92; 2025 annual ~0.85), a notable improvement from 2022–2023 when leverage was higher (above ~1.3). Profitability on equity is solid (TTM (Trailing-Twelve-Months) ~17%; 2025 annual ~14%), supporting balance sheet resilience. The key risk is still a meaningful debt load (~$437M TTM (Trailing-Twelve-Months)) that limits flexibility if operating conditions weaken.

Cash Flow

Cash generation strengthened materially: TTM (Trailing-Twelve-Months) operating cash flow is robust (~$165M) and free cash flow improved sharply (~$68.6M), with strong free-cash-flow growth versus the prior period. However, cash conversion is mixed—free cash flow is well below net income in TTM (Trailing-Twelve-Months) (about 42%), indicating working-capital or spending needs are still absorbing cash. Cash flow quality has improved versus 2022–2024, but consistency remains a watch item.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	1.29B	1.31B	1.23B	1.10B	1.01B	893.93M
Gross Profit	203.97M	192.24M	175.87M	165.73M	130.81M	139.74M
EBITDA	155.33M	137.76M	122.88M	119.50M	41.02M	108.07M
Net Income	77.20M	64.45M	53.73M	51.79M	-16.57M	47.53M
Balance Sheet
Total Assets	1.14B	1.16B	1.08B	960.90M	937.96M	879.93M
Cash, Cash Equivalents and Short-Term Investments	1.75M	8.54M	19.12M	46.00K	151.00K	15.64M
Total Debt	436.77M	387.74M	380.88M	438.37M	397.79M	365.02M
Total Liabilities	668.94M	704.39M	656.33M	654.00M	646.54M	560.97M
Stockholders Equity	474.77M	458.45M	422.41M	306.90M	291.42M	318.96M
Cash Flow
Free Cash Flow	68.62M	32.75M	13.71M	8.92M	-2.18M	53.90M
Operating Cash Flow	164.83M	121.44M	79.79M	44.32M	21.55M	78.58M
Investing Cash Flow	-96.21M	-88.69M	-66.08M	-35.40M	-23.73M	-24.68M
Financing Cash Flow	-84.08M	-43.36M	5.36M	-8.89M	-13.55M	-40.16M

Rogers Sugar Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.62
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RSI, the sentiment is Positive. The current price of 6.62 is above the 20-day moving average (MA) of 6.60, above the 50-day MA of 6.38, and above the 200-day MA of 6.02, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 59.30 is Neutral, neither overbought nor oversold. The STOCH value of 61.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RSI.

Rogers Sugar Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MFI	73 Outperform	C$3.68B	5.72	11.72%	4.95%	-0.03%	497.79%
RSI	73 Outperform	C$848.79M	6.68	14.63%	5.99%	6.57%	8.61%
LAS.A	71 Outperform	C$1.52B	9.81	11.44%	2.00%	17.69%	13.69%
NWC	69 Neutral	C$2.61B	13.57	18.44%	3.27%	2.08%	9.31%
PBH	69 Neutral	C$5.03B	-573.63	3.86%	3.34%	13.05%	-33.72%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HLF	61 Neutral	C$446.55M	8.64	8.89%	4.83%	6.15%	-36.76%

Rogers Sugar Corporate Events

Rogers Sugar Shareholders Back Board Slate, Align Governance at Lantic

Rogers Sugar Inc. announced that all director nominees listed in its December 17, 2025 management information circular were elected to the board at the company’s February 4, 2026 annual meeting of shareholders, each receiving strong majority support. The company also reported that its directors were instructed to vote the Corporation’s shares of subsidiary Lantic Inc. in favour of the same nominees as directors of Lantic, reinforcing continuity in governance across the parent company and its key operating subsidiary, while full voting results on all meeting matters will be posted on SEDAR+.

The most recent analyst rating on (TSE:RSI) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar Lifts Earnings and Cash Flow as LEAP Expansion Stays on Track

Rogers Sugar posted strong fiscal 2026 first-quarter results, with consolidated adjusted EBITDA rising 18% year over year to $46.9 million and adjusted net earnings climbing to $24.8 million despite lower sugar volumes. Performance was driven mainly by the sugar segment, where higher margins, aided by timing and non-recurring favourable adjustments, offset weaker industrial and export sales, while the maple segment delivered slightly improved adjusted EBITDA. The company reported trailing 12‑month free cash flow of $89.3 million, maintained its quarterly dividend at $0.09 per share, and raised $57.5 million through a new series of convertible debentures, as it invested $25 million in capital expenditures, including $21.1 million toward its LEAP Project, which remains on schedule and budgeted at $280–$300 million with an expected in-service date in the first half of 2027. Management noted that recent U.S. tariff-related market volatility has so far had only a limited impact on operations, underscoring the company’s relatively resilient position in the face of evolving trade conditions.

The most recent analyst rating on (TSE:RSI) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar Declares Quarterly Dividend of $0.09 per Share

Rogers Sugar Inc. has declared a quarterly dividend of $0.09 per share, payable on April 15, 2026, to shareholders of record as of March 27, 2026. The move underscores the company’s ongoing commitment to returning capital to shareholders and signals continued confidence in its cash flow and financial stability.

The most recent analyst rating on (TSE:RSI) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar Schedules February 5 Call to Review Q1 2026 Results

Rogers Sugar Inc. announced it will hold a conference call on February 5, 2026, to discuss its financial results for the first quarter of 2026, with Chief Executive Officer Michael Walton and Chief Financial Officer Jean-Sébastien Couillard leading the discussion. The scheduled call and accompanying webcast signal the company’s intention to update investors and other stakeholders on its recent performance and operating conditions early in the fiscal year, offering insight into business trends and financial health in a period of continued scrutiny for food and commodity producers.

The most recent analyst rating on (TSE:RSI) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar Raises $57.5 Million in Convertible Debenture Financing to Cut Debt

Rogers Sugar Inc. has closed a $57.5 million bought deal public offering of Ninth Series convertible unsecured subordinated debentures, including the full exercise of the underwriters’ over-allotment option, at $1,000 per debenture. The debentures, which bear interest at 5.50% annually and mature on January 31, 2033, are convertible into common shares at a price of $7.91 per share and begin trading today on the Toronto Stock Exchange under the symbol RSI.DB.H. The company plans to use the net proceeds to reduce outstanding amounts under the credit facility of its subsidiary Lantic Inc. and for general corporate purposes, a move that should strengthen its capital structure and improve financial flexibility for ongoing operations.

The most recent analyst rating on (TSE:RSI) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar to Raise Up to $57.5 Million Through Convertible Debenture Offering

Rogers Sugar Inc. has launched a public offering of $50 million in Ninth Series convertible unsecured subordinated debentures, bearing interest at 5.50% and maturing on January 31, 2033, with an option for holders to convert them into common shares at a price of $7.91 per share. The bought-deal financing, led by a syndicate co-headed by BMO Capital Markets and National Bank Capital Markets, includes an over-allotment option of up to an additional $7.5 million, potentially raising gross proceeds to $57.5 million, with the funds earmarked to pay down debt under subsidiary Lantic Inc.’s credit facility and for general corporate purposes, subject to regulatory and TSX approval upon an expected closing around January 12, 2026.

The most recent analyst rating on (TSE:RSI) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar Reports Robust Profitability Growth in 2025

Rogers Sugar Inc. reported strong profitability growth for fiscal year 2025, with consolidated adjusted EBITDA reaching $150.4 million. The company’s performance was bolstered by disciplined execution and consistent demand in both its Sugar and Maple segments. Despite market volatility due to new US tariffs, the impact on Rogers Sugar’s business has been limited. The company is advancing its LEAP Project to expand refining and logistics capacity, with significant investments made in property, plant, and equipment.

The most recent analyst rating on (TSE:RSI) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.

Rogers Sugar Inc. Declares Quarterly Dividend

Rogers Sugar Inc. has announced a quarterly dividend of $0.09 per share, which will be paid to shareholders of record on December 26, 2025, and is payable on January 14, 2026. This decision reflects the company’s ongoing commitment to providing value to its shareholders and may impact its financial positioning and stakeholder relations positively.

The most recent analyst rating on (TSE:RSI) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.