ROGERS CORP financial statements

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

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

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	656	821	879	898	803	933	971	908	830	811
Cost of revenue	407	502	568	584	511	584	650	601	553	554
Gross profit	249	319	311	314	292	349	321	307	277	257
Research and development	28.6	29.5	33.1	31.7	29.3	29.9	35.2	35.7	34.6	28.1
Selling, general and administrative	139	162	164	169	182	193	219	202	193	177
Operating income	80.9	129	113	110	67.3	117	144	85.3	24.9	-45
Interest expense	3.1	5.2	6.1	7.2	6.5
Interest income		0.38	0.8	1.61	0.94	0.5	0.7	1.2	1.4	2.9
Other non-operating income	1.17	5.02	-0.99	-0.59	3.51	4.6	1.1	-0.7	8.8	-0.9
Pre-tax income	82.3	133	111	55.1	68.5	126	140	76.3	34.3	-45.1
Income tax	34	52.5	22.9	7.81	18.5	18.2	23.8	19.7	8.2	16.7
Net income	48.3	80.5	87.7	47.3	50	108	117	56.6	26.1	-61.8
EBITDA	119	173	163	160	139	161	190	136	74.3	9.3
EPS, basic	2.68	4.43	4.77	2.55	2.68	5.77	6.21	3.04	1.40	-3.40
EPS, diluted	2.65	4.34	4.70	2.53	2.67	5.73	6.15	3.03	1.40	-3.40
Shares, basic (weighted)	18	18.2	18.4	18.6	18.7	18.7	18.8	18.6	18.6	18.2
Shares, diluted (weighted)	18.2	18.5	18.7	18.7	18.7	18.9	19	18.7	18.6	18.2

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	228	181	168	167	192	232	236	132	160	197
Receivables	120	141	145	122	134	163	177	162	135	131
Inventory	91.1	113	133	133	102	133	182	154	142	125
Other current assets	8.91	10.6	10.8	10.8	13.1	13.6	21.4	30.3	28.5	14.8
Total current assets	458	455	486	464	474	584	660	527	494	500
Property, plant and equipment	177	180	243	260	272	327	358	366	365	372
Lease right-of-use assets			0	4.66	4.22	17.2	13	18.9	24.1	19.2
Goodwill	208	237	265	263	270	370	352	360	358	303
Intangible assets	137	160	177	159	118	176	134	124	110	99.3
Other non-current assets	3.96	5.77	3.05	6.56	16.3	27.5	8.2	8.4	20.6	20.5
Total assets	1,057	1,125	1,279	1,273	1,264	1,599	1,646	1,517	1,481	1,430
Accounts payable	28.4	36.1	40.3	33	36	64.7	57.3	50.3	48.1	42.9
Short-term debt	3.65	0
Total current liabilities	101	114	107	100	112	164	143	116	124	126
Long-term debt	236	131	228	123	25	190	215	30	0
Lease liabilities			0	2.33	2.22	15	10.7	15.4	20.6	17.9
Other non-current liabilities	3.16	3.46	9.6	14	10.8	22.8	11.8	10.3	9.6	15.8
Total liabilities	421	359	431	339	243	480	474	258	230	234
Total debt	240	131	228	123	25	190	215	30	0
Paid-in capital	119	129	132	139	148	164	141	152	147	106
Retained earnings	591	685	776	824	874	982	1,098	1,155	1,181	1,119
Other comprehensive income	-92.3	-65.2	-78.8	-46.9	-19.6	-45.2	-85.2	-66.4	-95.3	-47.1
Shareholders' equity	636	767	848	934	1,021	1,119	1,173	1,259	1,252	1,196
Total equity	636	767	848	934	1,021	1,119	1,173	1,259	1,252	1,196
Total liabilities and equity	1,057	1,125	1,279	1,273	1,264	1,599	1,646	1,517	1,481	1,430
Shares outstanding	18	18.3	18.4	18.6	18.7	18.7	18.6	18.6	18.5	17.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	48.3	80.5	87.7	47.3	50	108	117	56.6	26.1	-61.8
Depreciation and amortization	37.8	44.1	50.1	49.2	71.4	43.3	45.9	51.1	49.4	54.3
Stock-based compensation	11.3	11.8	11.2	12.3	13.5	17	11.8	14.3	15.1	10.9
Deferred income tax	7.38	17.5	-3.33	-17.5	-13.4	-3.2	-20.6	-3.6	-17.3	-6.7
Change in receivables	-13	-14.1	-3.82	20.7	-8.93	-26.2	-32.3	-10.8	19	10.8
Change in inventory	9.69	-14.2	-19	-1.2	34.7	-34.4	-51.6	28.3	7.5	23.4
Change in payables	21.5	12.3	-7.89	-9.14	10.1	36.5	-8.8	-26.6	4	0.8
Cash from operations	117	139	66.8	161	165	124	130	131	127	101
Capital expenditures	-18.1	-27.2	-47.1	-51.6	-40.4	-71.1	-117	-57	-56.1	-30.1
Acquisitions	-134	-60.2	-78	0	0	-168	-3.6	0	0
Purchases of investments							0	0	-0.5	-0.2
Sales and maturities of investments							0	0	1.5	1.3
Cash from investing	-152	-78.3	-167	-49	-40.4	-239	-113	-47.9	-45.6	-14.8
Debt issued	166	0	103	0	150	190	100
Debt repaid	-104	-111	-6.16	-106	-248
Stock issued	0.86	3.09	0.86	0.34	0	0
Share buybacks	-8	0	-3	0	0	0	-25	0	-19.8	-52.4
Cash from financing	57.9	-113	88.7	-112	-104	159	-10.1	-190	-50.1	-53.9
Exchange rate effect	0.15	5.87	-1.49	-1.41	4.45	-4.3	-2.7	2.6	-3.3	4.7
Net change in cash	23.2	-46.6	-13.4	-0.89	24.9	40.5	3.6	-104	28.1	37.2
Free cash flow	98.8	112	19.7	110	125	53.3	12.7	74.4	71	71.1
Interest paid	3.92	5.79	7.04	7.76	7.25	2.4	9.7	10.4	1.7	1.2
Income taxes paid	24	36.9	29.2	17.6	30	33.8	60.8	6.9	19.5	20.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $137.76 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	32.2%	Gross profit / revenue.
Operating margin	-4.1%	Operating income / revenue.
EBITDA margin	2.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-3.9%	Pre-tax income / revenue.
Net margin	-6.8%	Net income / revenue.
FCF margin	8.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.6%	Cash from operations / revenue.
Return on equity (ROE)	-4.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-3.9%	Net income / average total assets.
Return on invested capital (ROIC)	-2.7%	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%.
R&D / revenue	3.4%	Research and development expense / revenue.
SG&A / revenue	21.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.1%	Capital expenditures / revenue.
D&A / revenue	6.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-7.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-7.2%	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	-2.5%	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	-280.7%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-87.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-63.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-41.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-336.8%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-342.9%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-20.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-7.9%	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	-9.3%	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	0.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	77.6%	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	-10.6%	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	-4.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	3.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-3.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-4.6%	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	2.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.02x	Current assets / current liabilities.
Quick ratio	2.65x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.54x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	16.4%	Total liabilities / total assets.
Working capital	$384.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	27.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$795.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.58x	Revenue / average total assets.
Fixed asset turnover	2.26x	Revenue / average property, plant and equipment.
Inventory turnover	4.36x	Cost of revenue / average inventory.
Days inventory	84 days	365 x average inventory / cost of revenue.
Receivables turnover	5.78x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
Days payables	35 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	112 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	26.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.12	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.
Revenue per share	$45.85	Revenue / diluted weighted shares.
FCF per share	$3.92	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.32	Cash from operations / diluted weighted shares.
Book value per share	$67.01	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$44.70	Tangible book value / shares outstanding.
Cash per share	$11.00	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.46B	Share price x shares outstanding.
Enterprise value	$2.27B	Market cap + total debt - cash - short-term investments.
P/S	3.00x	Market cap / revenue.
P/B	2.06x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.09x	Market cap / tangible book value, when positive.
P/FCF	35.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	25.8x	Market cap / cash from operations, when positive.
EV/Sales	2.76x	Enterprise value / revenue.
EV/EBITDA	107x	Enterprise value / EBITDA, when both are positive.
EV/FCF	32.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.8%	Free cash flow / market cap.
Earnings yield	-2.3%	Net income / market cap (the inverse of P/E).

What was ROGERS CORP's revenue in fiscal 2025?

ROGERS CORP reported revenue of $810.8M for fiscal 2025, 2.3% lower than the year before.

Was ROGERS CORP profitable in fiscal 2025?

No. It reported a net loss of $61.8M.

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

Cash from operations of $101.2M minus capital expenditures of $30.1M left free cash flow of $71.1M.

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.

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