Rogers Corporation
- Open
- 128.72
- Day high
- 133.67
- Day low
- 128.38
- Prev close
- 134.08
- Volume
- 529K
- Mkt cap
- $2.4B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.0
- P/S
- 2.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$430K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Rogers Corporation (ROG) is a Technology company listed on NYSE. The stock is up 102% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Rogers Corporation (ROG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ROG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.68 | $0.75 | +10.3% | $201M | +0.0% |
| Feb 17, 2026 | $0.60 | $0.89 | +48.3% | $202M | +0.0% |
| Oct 29, 2025 | $0.70 | $0.90 | +28.6% | $208M | +6.1% |
| Jul 31, 2025 | $0.50 | $0.34 | -32.0% | $203M | -1.4% |
| Apr 29, 2025 | $0.24 | $0.27 | +12.5% | $191M | +2.2% |
| Feb 19, 2025 | $0.43 | $0.46 | +7.0% | $192M | +0.2% |
| Oct 24, 2024 | $0.85 | $0.98 | +15.3% | $210M | +9.7% |
| Jul 25, 2024 | $0.60 | $0.69 | +15.0% | $214M | -0.9% |
| Apr 25, 2024 | $0.55 | $0.58 | +5.5% | $213M | -1.3% |
| Feb 21, 2024 | $1.00 | $0.60 | -40.0% | $205M | -7.0% |
| Oct 26, 2023 | $1.14 | $1.24 | +8.8% | $229M | +4.2% |
| Aug 3, 2023 | $1.02 | $1.07 | +4.9% | $231M | -6.8% |
ROG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 21, 2026 | El-Haj Ali Omardirector, officer: President & CEO | Grant | 24,822 | — |
| May 8, 2026 | Roby Anne Kdirector | Grant | 1,427 | — |
| May 8, 2026 | Starkloff Eric Howarddirector | Grant | 1,427 | — |
| May 8, 2026 | Lauzon Armand F Jrdirector | Grant | 1,427 | — |
| May 8, 2026 | Berger Larry Ldirector | Grant | 1,427 | — |
| May 8, 2026 | Costello Donnadirector | Grant | 1,427 | — |
| May 8, 2026 | Faust Megandirector | Grant | 1,427 | — |
| May 8, 2026 | Moh Woon Keatdirector | Grant | 1,427 | — |
| May 8, 2026 | COPE BRETT ALANdirector | Grant | 1,427 | — |
| May 8, 2026 | OWENS JEFFREY Jdirector | Grant | 1,427 | — |
| May 1, 2026 | Larabee Brian Keithofficer: SVP & GM - EMS | Sell | 830 | $135.91 |
| May 1, 2026 | Wallace Peter Cdirector | Sell | 1,430 | $132.63 |
| May 1, 2026 | Wallace Peter Cdirector | Sell | 967 | $131.56 |
| Mar 12, 2026 | Morton Jessica Annofficer: SVP, Gen Counsel, Secretary | Tax | 248 | $105.01 |
| Mar 2, 2026 | Morton Jessica Annofficer: SVP, Gen Counsel, Secretary | Tax | 427 | $107.83 |
Source: ROG SEC Form 4 filings, latest May 21, 2026. For informational purposes only — not investment advice.
See the full ROG insider & 13F page →Rogers Corporation company profile
Overview
Rogers Corporation (NYSE:ROG) is a specialized materials and components manufacturer founded in 1832 and headquartered in Chandler, Arizona. The company has evolved from its 19th-century origins into a leading provider of engineered materials for high-technology applications. Rogers went public in 1980 and today operates globally, serving critical industries including electric vehicles, aerospace and defense, wireless infrastructure, and advanced electronics. The company has built its reputation on developing high-performance materials that enable next-generation technologies, particularly in areas requiring thermal management, electrical performance, and reliability under extreme conditions.
Business
Rogers Corporation operates in the specialized engineered materials industry, designing and manufacturing advanced materials and components that enable critical technologies across multiple high-growth sectors. The company's products are essential building blocks for applications where standard materials cannot meet the demanding performance requirements. The business is organized into two primary segments. The Advanced Electronics Solutions (AES) segment represents approximately 55% of revenue and focuses on circuit materials, ceramic substrates, and thermal management solutions. This segment produces materials under brand names like curamik (ceramic substrates for power electronics), RO4000 and RO3000 (high-frequency circuit materials), and COOLSPAN (thermal management solutions). These materials are critical components in electric vehicle power systems, 5G wireless infrastructure, radar systems for autonomous vehicles, and aerospace applications. The Elastomeric Material Solutions (EMS) segment accounts for roughly 45% of revenue and manufactures flexible, rubber-like materials for cushioning, sealing, and vibration management. Key products include PORON polyurethane foams used in electronic device sealing and cushioning, BISCO silicone materials for thermal applications, and specialized materials for wire and cable protection. These materials are essential in smartphones, automotive applications, industrial equipment, and semiconductor manufacturing. The company also has a smaller "Other" segment that provides elastomer components and floats for level sensing applications in fuel tanks and industrial storage systems. Rogers' materials enable technologies that require precise electrical properties, thermal management, mechanical protection, or environmental sealing - applications where material failure could compromise entire systems worth millions of dollars.
Revenue model
Rogers Corporation generates revenue primarily through direct product sales to original equipment manufacturers (OEMs) and their suppliers across various high-technology industries. The company operates as a business-to-business materials supplier, selling engineered materials and components that customers integrate into their final products. The business model centers on developing specialized materials with unique properties that command premium pricing due to their critical performance characteristics. Customers pay for Rogers' materials because standard alternatives cannot meet the demanding requirements of their applications - whether it's the high-frequency performance needed for 5G base stations, the thermal management required in electric vehicle power systems, or the precision sealing needed in advanced electronics. Revenue streams come from both high-volume applications like smartphone components and lower-volume, higher-margin applications in aerospace and defense. The company's margins are influenced by several key factors. Product mix significantly impacts profitability, with aerospace, defense, and electric vehicle applications typically commanding higher margins than consumer electronics. Manufacturing efficiency and capacity utilization affect costs, as the company operates specialized production facilities with significant fixed costs. Raw material costs can pressure margins, particularly for precious metals and specialized chemicals used in ceramic substrates. Competition from both established materials companies and new entrants can impact pricing power, though Rogers' technical expertise and customer relationships provide some protection. End-market demand cycles create variability, as seen in recent weakness in electric vehicle power module markets and portable electronics. Geographic manufacturing strategy affects costs and tariff exposure, leading Rogers to invest in local-for-local production capabilities, including a new facility in China.
Competitive moat
Rogers Corporation possesses a moderate but meaningful competitive moat built primarily on technical expertise, customer relationships, and switching costs. The company's strongest defensive position comes from its deep materials science knowledge accumulated over decades of developing specialized solutions for demanding applications. This technical moat is particularly strong in areas like high-frequency circuit materials and ceramic power substrates, where Rogers has developed proprietary formulations and manufacturing processes that are difficult to replicate. The company benefits from significant customer switching costs in many applications. Once Rogers' materials are designed into a customer's product, changing suppliers requires extensive re-engineering, testing, and regulatory approvals that can take years and cost millions of dollars. This is especially true in aerospace and defense applications, where materials must meet stringent qualification requirements. However, Rogers' moat faces several challenges. The company operates in a competitive landscape with well-funded rivals including DuPont, 3M, and specialized materials companies. Technology disruption poses risks, as new materials or manufacturing approaches could potentially obsolete Rogers' solutions. The company's dependence on specific end markets like electric vehicles and 5G infrastructure creates vulnerability to demand cycles and technological shifts. The moat is also limited by the fact that Rogers typically represents a small portion of its customers' total costs, meaning price sensitivity can be high during economic downturns. Additionally, some of Rogers' markets are experiencing commoditization pressure as technologies mature and alternative suppliers emerge. While the company continues investing in R&D to maintain its technical edge, the competitive landscape remains challenging, and the moat strength varies significantly across different product lines and applications.
Risks & safety
Rogers Corporation maintains a solid financial position with low fundamental risk, though valuation metrics suggest limited margin of safety at current levels. • Liquidity and Solvency: Strong balance sheet with $176 million cash, minimal debt (debt-to-equity ratio of 0.019), and current ratio of 3.94. No immediate solvency concerns. • Cash Generation: Free cash flow of $71 million in 2024, though down from stronger historical levels. Operating cash flow remains positive at $127 million annually. • Valuation Metrics: Trading at 26.6x EV/EBITDA and 0.98x price-to-book ratio. Graham Net-Net value of 7.2x suggests the stock is not deeply undervalued on a liquidation basis. • Profitability Concerns: Recent quarters show minimal or negative net income despite positive EBITDA, indicating margin pressure from current market conditions. • Market Position: Revenue declining from $971 million in 2022 to $830 million in 2024, reflecting challenging end-market conditions rather than fundamental business deterioration. The company appears financially stable but offers limited margin of safety given current valuation levels and cyclical headwinds in key markets.
Recent development
Over the past few years, Rogers Corporation has undergone significant strategic repositioning under CEO Colin Gouveia, who joined in 2022. The company has implemented a comprehensive cost reduction program, eliminating $25 million in costs for 2025 through workforce reductions, facility consolidations, and operational improvements. This includes winding down production at the Belgium facility, selling the Arizona manufacturing facility, and reducing discretionary spending. A major strategic initiative has been the expansion into China with a new curamik ceramic substrate manufacturing facility that began sample shipments in late 2024 and is expected to reach mass production by mid-2025. This "local-for-local" manufacturing strategy aims to serve the growing Chinese electric vehicle market while mitigating tariff risks. The company has also been implementing a new SAP S/4HANA ERP system to improve operational efficiency. Rogers has focused its innovation efforts on high-growth applications including Advanced Driver Assistance Systems (ADAS) radar technology, next-generation electric vehicle power systems, and data center thermal management solutions. The company launched new advanced thermoset laminates for ADAS applications and developed new PORON polyurethane materials for semiconductor thermal management. The company has been actively pursuing design wins across multiple segments while managing through challenging market conditions, particularly in the electric vehicle power module market where customer inventory destocking has significantly impacted revenues. Management expects gradual market recovery in the second half of 2025, with continued focus on operational excellence and strategic investments in high-growth applications.
ROG company profile · for informational purposes only — not investment advice.
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