ROGERS COMMUNICATIONS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ROGERS COMMUNICATIONS INC files with the SEC in its annual reports.

In CAD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	13,702	14,369	15,096	15,073	13,916	14,655	15,396	19,308	20,604	21,712
Cost of revenue	8,671	8,867	9,113	8,861	8,059	8,768	9,003	10,727	10,987	11,892
Gross profit	5,031	5,502	5,983	6,212	5,857	5,887	6,393	8,581	9,617	9,820
Operating income	5,092	5,502	5,983	6,212	5,857	5,887	6,393	8,581	9,617	9,820
Interest expense	761	746	793	840	881	849	1,233	2,047	2,295	2,043
Pre-tax income	1,159	2,530	2,817	2,755	2,172	2,127	2,289	1,366	2,306	7,626
Income tax	324	685	758	712	580	569	609	517	572	720
Net income to minority interests									0	12
Net income	835	1,845	2,059	2,043	1,592	1,558	1,680	849	1,734	6,894
EBITDA	7,368	7,644	8,194	8,700	8,475	8,472	8,969	12,702	14,233	14,622
EPS, basic	1.75	3.58	4.00	3.99	3.15	3.09	3.33	1.62	3.25	12.77
EPS, diluted	1.75	3.57	3.99	3.97	3.13	3.07	3.32	1.62	3.20	12.74

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	-71	0	405	494	2,484	715	463	800	898	1,344
Receivables	1,949	2,035	2,236	2,376	2,856	3,847	4,184	4,996	5,478	6,105
Inventory	315	435	466	460	479	535	438	456	641	550
Total current assets	2,570	4,125	4,888	5,117	6,929	5,829	19,283	7,834	8,373	9,488
Property, plant and equipment	10,749	11,143	11,780	12,198	12,167
Lease right-of-use assets			0	1,736	1,851			2,561	2,695	3,099
Goodwill	3,905	3,905	3,905	3,923	3,973	4,024	4,031	16,280	16,280	20,032
Intangible assets	7,130	7,244	7,205	8,905	8,926	12,281	12,251	17,896	17,858	28,898
Total assets	28,342	30,490	31,918	37,019	38,854	41,963	55,655	69,282	71,411	90,012
Short-term debt	800	1,585	2,255	2,238	1,221	2,200	2,985	1,750	2,959	4,000
Total current liabilities	5,113	6,883	6,836	5,964	6,586	8,619	9,549	8,782	12,609	15,652
Lease liabilities				1,495	1,557	1,621	1,666	2,089	2,191	2,428
Total liabilities	23,073	22,994	23,739	27,603	29,281	31,431	45,563	58,842	61,008	65,726
Total debt					18,373	18,873	32,855
Shareholders' equity									10,403	17,751
Minority interests									0	6,535
Total equity	6,284	7,492	8,156	9,416	9,573	10,532	10,092	10,440	10,403	24,286
Total liabilities and equity	28,342	30,490	31,918	37,019	38,854	41,963	55,655	69,282	71,411	90,012

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	835	1,845	2,059	2,043	1,592	1,558	1,680	849	1,734	6,906
Depreciation and amortization	2,276	2,142	2,211	2,488	2,618	2,585	2,576	4,121	4,616	4,802
Cash from operations	3,957	3,938	4,288	4,526	4,321	4,161	4,493	5,221	5,680	6,059
Capital expenditures	-2,352	-2,510	-2,815	-2,845	-2,312		-3,075	-4,042	-4,100	-3,863
Cash from investing	-2,456	-2,630	-2,944	-4,612	-2,558	-6,133	-3,263	-20,200	-4,455	-8,212
Share buybacks			0	-655	0
Dividends paid	-988	-988	-988	-1,016	-1,011	-1,010	-1,010	-960	-739	-913
Cash from financing	-1,583	-1,243	-933	175	227	203	11,355	2,479	-1,127	2,599
Net change in cash	-82	65	411	89	1,990	-1,769	12,585	-12,500	98	446
Free cash flow	1,605	1,428	1,473	1,681	2,009		1,418	1,179	1,580	2,196
Interest paid	756	735	726	779	808	802	1,054	1,780	2,087	2,070

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Gross margin	45.2%	Gross profit / revenue.
Operating margin	45.2%	Operating income / revenue.
EBITDA margin	67.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	35.1%	Pre-tax income / revenue.
Net margin	31.8%	Net income / revenue.
FCF margin	10.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	27.9%	Cash from operations / revenue.
Effective tax rate	9.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	49.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	8.5%	Net income / average total assets.
Return on invested capital (ROIC)	68.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	17.8%	Capital expenditures / revenue.
D&A / revenue	22.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	2.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	15.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	2.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	15.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	10.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	2.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	17.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	297.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	60.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	34.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	298.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	56.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	32.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	6.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	10.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	39.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	15.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	1.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	70.6%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	26.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	17.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.61x	Current assets / current liabilities.
Quick ratio	0.48x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.09x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	73.0%	Total liabilities / total assets.
Interest coverage	4.81x	Operating income / interest expense.
Working capital	-CA$6.16B	Current assets - current liabilities.
Goodwill and intangibles / assets	54.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-CA$31.18B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.27x	Revenue / average total assets.
Inventory turnover	20.0x	Cost of revenue / average inventory.
Days inventory	18 days	365 x average inventory / cost of revenue.
Receivables turnover	3.75x	Revenue / average receivables.
Days sales outstanding	97 days	365 x average receivables / revenue.
FCF conversion	31.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	63.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	CA$12.74	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	CA$12.77	Net income per basic share, as reported (split-adjusted).
Payout ratio	13.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	41.6%	Dividends paid / free cash flow, when free cash flow is positive.

What was ROGERS COMMUNICATIONS INC's revenue in fiscal 2025?

ROGERS COMMUNICATIONS INC reported revenue of CA$21.71B for fiscal 2025, 5.4% higher than the year before.

Was ROGERS COMMUNICATIONS INC profitable in fiscal 2025?

Yes. Net income was CA$6.89B, a net margin of 31.8%.

How much free cash flow did ROGERS COMMUNICATIONS INC generate in fiscal 2025?

Cash from operations of CA$6.06B minus capital expenditures of CA$3.86B left free cash flow of CA$2.20B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to ROGERS COMMUNICATIONS INC