Rogers (ROG)
Market Price (11/11/2026): $128.17 | Market Cap: $2.3 BilSector: Information Technology | Industry: Electronic Components
Rogers (ROG)
Market Price (11/11/2026): $128.17Market Cap: $2.3 BilSector: Information TechnologyIndustry: Electronic Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% Low stock price volatilityVol 12M is 46% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Telecom Infrastructure, Show more. | Weak multi-year price returns2Y Excs Rtn is -7.0%, 3Y Excs Rtn is -65% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.5% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% Key risksROG key risks include [1] execution challenges with its significant operational restructuring and turnaround effort, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 46% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Telecom Infrastructure, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -7.0%, 3Y Excs Rtn is -65% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.5% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Key risksROG key risks include [1] execution challenges with its significant operational restructuring and turnaround effort, Show more. |
Qualitative Assessment
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Nov 9: up 5.3% in one day (S&P 500 up 2.4%)
This move came without company news as the market drove a broad-based relief rally where the Dow jumped significantly.
Down 27.7% from its Oct 2 high to Nov 5, up 10.8% since (S&P 500 down 4.8%)
This substantial downturn came without company news, driven by broad market concerns surrounding tech and AI stocks. It was notably impacted by market sell-offs on November 5 and October 22.
Oct 28: up 5.0% the day after its Oct 27 earnings report (S&P 500 up 0.3%)
The stock rose after the company reported its third quarter 2026 results. These results showed earnings of $1.39 per share, beating the Zacks Consensus Estimate of $1.19 per share.
Nov 9: up 5.3% in one day (S&P 500 up 2.4%)
This move came without company news as the market drove a broad-based relief rally where the Dow jumped significantly.
Down 27.7% from its Oct 2 high to Nov 5, up 10.8% since (S&P 500 down 4.8%)
This substantial downturn came without company news, driven by broad market concerns surrounding tech and AI stocks. It was notably impacted by market sell-offs on November 5 and October 22.
Oct 28: up 5.0% the day after its Oct 27 earnings report (S&P 500 up 0.3%)
The stock rose after the company reported its third quarter 2026 results. These results showed earnings of $1.39 per share, beating the Zacks Consensus Estimate of $1.19 per share.
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Stock Movement Drivers
Fundamental Drivers
The 3.9% change in ROG stock from 7/31/2026 to 11/10/2026 was primarily driven by a 41.3% change in the company's Net Income Margin (%).| (LTM values as of) | 7312026 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 123.47 | 128.28 | 3.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 835 | 855 | 2.4% |
| Net Income Margin (%) | 3.7% | 5.3% | 41.3% |
| P/E Multiple | 70.6 | 50.4 | -28.6% |
| Shares Outstanding (Mil) | 18 | 18 | 0.6% |
| Cumulative Contribution | 3.9% |
Market Drivers
7/31/2026 to 11/10/2026| Return | Correlation | |
|---|---|---|
| ROG | 3.9% | |
| Market (SPY) | 0.4% | 55.4% |
| Sector (XLK) | -3.7% | 74.0% |
Fundamental Drivers
The -5.5% change in ROG stock from 4/30/2026 to 11/10/2026 was primarily driven by a -9.3% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 135.75 | 128.28 | -5.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 821 | 855 | 4.2% |
| P/S Multiple | 2.9 | 2.7 | -9.3% |
| Shares Outstanding (Mil) | 18 | 18 | 0.0% |
| Cumulative Contribution | -5.5% |
Market Drivers
4/30/2026 to 11/10/2026| Return | Correlation | |
|---|---|---|
| ROG | -5.5% | |
| Market (SPY) | 4.6% | 56.5% |
| Sector (XLK) | 6.0% | 71.8% |
Fundamental Drivers
The 46.5% change in ROG stock from 10/31/2025 to 11/10/2026 was primarily driven by a 35.1% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 87.54 | 128.28 | 46.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 802 | 855 | 6.7% |
| P/S Multiple | 2.0 | 2.7 | 35.1% |
| Shares Outstanding (Mil) | 18 | 18 | 1.7% |
| Cumulative Contribution | 46.5% |
Market Drivers
10/31/2025 to 11/10/2026| Return | Correlation | |
|---|---|---|
| ROG | 46.5% | |
| Market (SPY) | 10.9% | 49.0% |
| Sector (XLK) | 12.8% | 58.0% |
Fundamental Drivers
The 4.4% change in ROG stock from 10/31/2023 to 11/10/2026 was primarily driven by a 122.0% change in the company's P/E Multiple.| (LTM values as of) | 10312023 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 122.89 | 128.28 | 4.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 928 | 855 | -7.8% |
| Net Income Margin (%) | 10.9% | 5.3% | -51.2% |
| P/E Multiple | 22.7 | 50.4 | 122.0% |
| Shares Outstanding (Mil) | 19 | 18 | 4.5% |
| Cumulative Contribution | 4.4% |
Market Drivers
10/31/2023 to 11/10/2026| Return | Correlation | |
|---|---|---|
| ROG | 4.4% | |
| Market (SPY) | 85.5% | 51.0% |
| Sector (XLK) | 109.6% | 52.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ROG Return | 76% | -56% | 11% | -23% | -10% | 40% | -17% |
| Peers Return | 29% | -14% | 15% | 14% | 46% | 29% | 171% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| ROG Win Rate | 75% | 25% | 58% | 50% | 50% | 64% | |
| Peers Win Rate | 62% | 48% | 50% | 57% | 48% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| ROG Max Drawdown | -15% | -64% | -31% | -27% | -49% | -31% | |
| Peers Max Drawdown | -20% | -36% | -29% | -26% | -37% | -50% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MTRN, TTMI, GLW, HUN, AVNT. See ROG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/10/2026 (YTD)
How Low Can It Go
| Event | ROG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.4% | -18.8% |
| % Gain to Breakeven | 70.6% | 23.1% |
| Time to Breakeven | 238 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.6% | -7.8% |
| % Gain to Breakeven | 17.1% | 8.5% |
| Time to Breakeven | 613 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.8% | -33.7% |
| % Gain to Breakeven | 44.5% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.0% | -19.2% |
| % Gain to Breakeven | 56.1% | 23.8% |
| Time to Breakeven | 59 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -14.3% | -3.7% |
| % Gain to Breakeven | 16.6% | 3.9% |
| Time to Breakeven | 7 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.9% | -12.2% |
| % Gain to Breakeven | 38.7% | 13.9% |
| Time to Breakeven | 59 days | 62 days |
In The Past
Rogers's stock fell -41.4% during the 2025 US Tariff Shock. Such a loss loss requires a 70.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | ROG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.4% | -18.8% |
| % Gain to Breakeven | 70.6% | 23.1% |
| Time to Breakeven | 238 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.8% | -33.7% |
| % Gain to Breakeven | 44.5% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.0% | -19.2% |
| % Gain to Breakeven | 56.1% | 23.8% |
| Time to Breakeven | 59 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.9% | -12.2% |
| % Gain to Breakeven | 38.7% | 13.9% |
| Time to Breakeven | 59 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -28.9% | -6.8% |
| % Gain to Breakeven | 40.7% | 7.3% |
| Time to Breakeven | 59 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.8% | -17.9% |
| % Gain to Breakeven | 33.0% | 21.8% |
| Time to Breakeven | 455 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.2% | -15.4% |
| % Gain to Breakeven | 26.9% | 18.2% |
| Time to Breakeven | 104 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -68.4% | -53.4% |
| % Gain to Breakeven | 216.8% | 114.4% |
| Time to Breakeven | 711 days | 1085 days |
In The Past
Rogers's stock fell -41.4% during the 2025 US Tariff Shock. Such a loss loss requires a 70.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Rogers (ROG)
Rogers Corporation (ROG) is a global leader in designing, developing, manufacturing, and selling high-performance engineered materials and components. The company's specialized material science enables critical applications across a wide array of industries. Rogers primarily operates through two major segments: Advanced Electronics Solutions (AES) and Elastomeric Material Solutions (EMS), alongside a smaller segment for elastomer components.
The Advanced Electronics Solutions (AES) segment provides essential materials such as circuit materials, ceramic substrates, busbars, and sophisticated cooling solutions. These products are vital for high-growth and demanding markets including electric and hybrid electric vehicles (EV/HEV), advanced wireless infrastructure, automotive, aerospace and defense, and connected devices. Through its AES offerings, Rogers helps facilitate reliable and efficient electronic systems in cutting-edge technologies. Concurrently, the Elastomeric Material Solutions (EMS) segment manufactures advanced polyurethane and silicone materials. These are widely utilized for critical functions such as cushioning, gasketing, sealing, and vibration management in industrial applications, as well as specialized silicones for flex heaters and semiconductor thermal solutions.
Rounding out its portfolio, Rogers' "Other" segment supplies elastomer components and floats, primarily for level sensing applications in fuel tanks and storage tanks within general industrial and automotive markets. In summary, Rogers Corporation leverages its deep expertise in material science to deliver foundational components that are integral to a diverse range of high-tech, automotive, and industrial products globally, positioning itself as a key enabler for innovation and performance across its served markets.
AI Analysis | Feedback
Rogers is like a highly specialized 3M, focused on cutting-edge materials for advanced electronics and industrial uses.
Rogers is like Corning for the foundational materials that make high-performance electronics and industrial applications possible.
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- Circuit Materials & Substrates: High-performance laminate materials, ceramic substrates, and busbars designed for advanced electronic applications.
- Thermal Management Solutions: Specialized cooling solutions and thermal materials for managing heat in electronic devices and systems.
- Polyurethane & Silicone Foams: Engineered polyurethane and silicone materials used for cushioning, gasketing, sealing, and vibration management.
- PTFE & UHMW-PE Materials: Polytetrafluoroethylene and ultra-high molecular weight polyethylene materials for insulation, protection, and sealing in various industrial applications.
- Elastomer Components & Floats: Custom elastomer components and floats used for level sensing and general industrial and automotive applications.
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Ali El-Haj, Interim President and Chief Executive Officer
Ali El-Haj has over 30 years of international experience leading growth, turnarounds, and strategic expansion in the automotive and manufacturing industries. Most recently, he guided Techniplas, a Tier 1 supplier, through multiple acquisitions, complex COVID-19 supply chain challenges, and secured several contracts with European OEMs. Prior to that, Mr. El-Haj served as President and CEO of CAP-CON Automotive Technologies, where he expanded Casco Products into a global leader in sensor and connectivity systems, and simultaneously led ARC Automotive through a major turnaround.
Laura Russell, Senior Vice President, Chief Financial Officer and Treasurer
Laura Russell joined Rogers in 2023 as Vice President of Finance and was appointed Senior Vice President, Chief Financial Officer and Treasurer in 2024. She has over two decades of multifaceted experience in finance and operations. She most recently served as Vice President of Finance Operations at Wolfspeed, a company focused on silicon carbide and gallium nitride chips for the semiconductor market. Before Wolfspeed, Ms. Russell was Vice President of Finance at NXP Semiconductors.
Jessica Morton, Senior Vice President, General Counsel and Corporate Secretary
Jessica Morton joined Rogers in March 2023. Before Rogers, she worked at FMC Corporation, where she provided leadership for complex legal matters including M&A and corporate strategy, securities law, and corporate governance. Prior to FMC, Jessica provided global commercial counsel to two businesses at The Dow Chemical Company – Performance Monomers and Plastics Additives. Earlier in her career, she was an attorney specializing in M&A, corporate, and securities law at Dechert LLP.
Larry Schmid, Senior Vice President, Global Operations and Supply Chain
Larry Schmid was appointed Senior Vice President, Global Operations and Supply Chain in January 2023. He has more than 20 years of senior executive leadership experience in global manufacturing operations and supply chain management. He joined Rogers from Pilko & Associates, LP, where he served as President. Previously, he held various international operations roles at Dow, including serving as a member of the Senior Operations Leadership Team and managing five Dow businesses. Prior to Dow, Mr. Schmid held senior operational positions at Rohm and Haas.
Raymond Sean Reeder, Chief Accounting Officer and Corporate Controller
Sean Reeder has extensive work experience in finance and accounting, spanning over two decades. He has held various senior roles in companies such as Rogers Corporation, Priority Ambulance, WillScot Mobile Mini, ON Semiconductor, and KPMG LLP. His roles have included VP Finance and Corporate Controller, VP Controller, VP Corporate Controller, Corporate Controller, Senior Director of Accounting, Senior Director of Tax, and Director of External Financial Reporting.
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The key risks to Rogers Corporation (ROG) are:
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Weak Demand and Market Volatility in Key End Markets
Rogers Corporation faces significant risk from weak demand and uncertainty in its primary end markets, particularly electric vehicles (EV/HEV) and portable electronics. This has led to declining revenue and profitability, and required the company to undertake aggressive restructuring, especially within its Advanced Electronics Solutions (AES) segment, including the curamik business. Management has noted continued softness and uncertainty in the automotive and EV sectors due to macroeconomic pressures and regional demand challenges. Failure to capitalize on or volatility within these significant growth markets can adversely affect the business, as sales relating to EV/HEV and other high-growth markets constituted a substantial portion of net sales in 2023.
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Dependence on Global Manufacturing and Fragile Supply Chains
Operating a global manufacturing footprint across the US, Asia, and Europe exposes Rogers Corporation to significant geopolitical risks and supply chain fragility. The company's reliance on global operations and supply chains makes it vulnerable to political instability, trade policy changes, currency fluctuations, and disruptions in raw material supply. Rogers Corporation has already had to adjust its strategy, including winding down some European manufacturing in response to shifting customer demand. Some of the raw materials essential for its specialized engineered materials are sourced from sole or limited suppliers, and disruptions or price increases from these suppliers could materially impact its business.
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Challenges in Financial Performance and Restructuring Costs
Rogers Corporation has faced challenges with declining margins and revenue growth, indicating difficulties in maintaining profitability. The company has experienced a three-year revenue growth decline and reported significant operating losses and net losses due to substantial restructuring and impairment charges. These costs, particularly related to restructuring actions in Europe, create near-term margin headwinds and reflect a period of transition and potential instability. While cost-saving initiatives are underway, the gross margin remains below prior year levels, suggesting ongoing pricing pressure and operational inefficiencies.
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Rogers Corporation operates in several addressable markets for its advanced electronics and elastomeric material solutions. The global market sizes for its main products and services are as follows:
Advanced Electronics Solutions (AES) Segment
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High-Frequency Laminate Materials: The global high-frequency high-speed copper clad laminate market was valued at approximately USD 3.7 billion in 2024 and is estimated to reach USD 9.6 billion by 2034. Specifically, the high-frequency copper clad laminate (CCL) market accounted for USD 2.5 billion in 2024.
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Busbars for Electric Vehicles (EVs): The global electric vehicle busbar market was valued at USD 776.1 million in 2024 and is estimated to reach USD 5.30 billion by 2034. Another report states the global market size for busbars used in new energy vehicles was approximately US$1.531 billion in 2025 and is projected to grow to US$3.125 billion by 2032. The global high-power electric vehicle busbar market was estimated at USD 607.36 million in 2025 and is expected to reach USD 1,207.19 million by 2032.
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EV Thermal Management Systems: The global electric vehicle thermal management market was valued at USD 2.77 billion in 2024 and is projected to reach USD 5.19 billion by 2034. The global electric vehicle battery thermal management systems market size was estimated at USD 5.41 billion in 2024 and is projected to reach USD 29.09 billion by 2030.
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Thermal Interface Materials (TIMs): The global thermal interface materials market was valued at USD 4.6 billion in 2024, with expectations to reach USD 12.2 billion by 2034. For semiconductor applications, the global semiconductor thermal interface materials market size was valued at USD 1.17 billion in 2025 and is projected to reach USD 2.42 billion by 2034.
Elastomeric Material Solutions (EMS) Segment
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Gasketing and Sealing Materials: The global gaskets and seals market was valued at USD 72.03 billion in 2023 and is projected to reach USD 100.72 billion by 2029. Another source estimates the global gasket and seal materials market size was valued at USD 64.38 billion in 2024 and is poised to grow to USD 101.6 billion by 2033.
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Elastomer Materials: The global elastomers market was valued at USD 110.79 billion in 2025 and is projected to grow to USD 177.44 billion by 2034. The global advanced elastomers market is expected to grow from USD 6.51 billion in 2024 to USD 11.57 billion by 2035.
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Flexible Heaters (customized silicones): The global flexible heater market was valued at USD 1.52 billion in 2024 and is expected to reach USD 2.13 billion by 2032. Another report states the global flexible heater market size was valued at USD 1.2 billion in 2025 and is estimated to reach USD 2.1 billion by 2034.
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Polytetrafluoroethylene (PTFE) Materials: The global polytetrafluoroethylene (PTFE) market size was USD 2.83 billion in 2024 and is expected to reach USD 4.04 billion by 2033.
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Ultra-High Molecular Weight Polyethylene (UHMW-PE) Materials: The global ultra-high molecular weight polyethylene market size was valued at USD 2.69 billion in 2024 and is projected to reach USD 6.31 billion by 2030.
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Expected Drivers of Future Revenue Growth for Rogers Corporation (ROG)
- Growth in Key Secular Markets: Rogers Corporation anticipates future revenue growth from its strong position in growing secular markets. Specifically, the Advanced Electronics Solutions (AES) segment is expected to benefit from increased demand in electric and hybrid electric vehicles (EV/HEV), Advanced Driver-Assistance Systems (ADAS), renewable energy, and industrial markets. The aerospace and defense sector also contributes to this growth. While the EV/HEV segment experienced some short-term regional weakness in late 2025, the company is actively developing new technologies for EV batteries and renewables to drive long-term growth.
- Expansion into New Markets, particularly Data Centers: A significant driver of future revenue growth for Rogers Corporation is its strategic expansion into new markets, with a particular focus on data centers. The company has secured initial design wins in its Elastomeric Material Solutions (EMS) business for data center applications, leveraging its expertise in thermal management and signal integrity technologies. Revenue impact from this new market is anticipated to begin in late 2026 or 2027.
- Accelerating New Product Introductions and Market Share Expansion: Rogers Corporation is focused on accelerating the introduction of new products and expanding its market share within existing customer bases. This strategy is central to leveraging its innovative materials technology solutions and applications expertise to meet complex customer challenges and drive top-line growth over the next several years.
- Industrial Market Recovery and Traditional Customer Growth: The industrial market is expected to remain a key growth driver for Rogers Corporation. The company has observed a recovery in this segment, leading to high-single-digit sales growth from both market recovery and growth with traditional customers.
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Share Repurchases
- Rogers Corporation completed a multi-year share buyback program in February 2026, repurchasing 2,120,103 shares for $147.44 million since 2015.
- The company repurchased $52 million in shares during the full year 2025.
- Share repurchases totaled $14.3 million in the fourth quarter of 2025 and $10.0 million in the third quarter of 2025.
Inbound Investments
- An unnamed institutional fund made a new $40 million investment in Rogers Corporation (ROG) stock in February 2026.
- Capital Research Global Investors purchased a new stake of 1,221,660 shares, valued at approximately $98.3 million, in Rogers Corporation during the third quarter (as of March 2026 filing).
- Norges Bank acquired a new position in Rogers shares valued at $89.1 million in the second quarter (as of March 2026 filing).
Outbound Investments
- On November 2, 2021, Rogers Corporation announced a definitive merger agreement to be acquired by DuPont in an all-cash transaction valued at approximately $5.2 billion, which was expected to close in the second quarter of 2022.
- Rogers Corporation acquired Lancashire, UK-based silicone rubber materials maker Silicone Engineering in October 2021.
- As of June 2024, Rogers Corporation indicated an acquisition roadmap of 21 sponsor-backed companies, with a focus on "Rogers-like" companies that have high margins and price stability.
Capital Expenditures
- Capital expenditures for the fourth quarter of 2025 were $4.7 million, following $7.7 million in the third quarter of 2025 and $15.4 million in the fourth quarter of 2024.
- For the full year 2026, Rogers Corporation expects capital expenditures to be in the range of $30 million to $40 million.
- Strategic shifts include increased research and development investments, particularly in high-frequency materials, and a focus on manufacturing footprint optimization.
Peer Outperformance in Electronic Components
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| ROG | Rogers | -2.5% | 50.4x | 50.8% | 2.6% | -52.3% | — |
| VSH | Vishay Intertechnology | 1.1% | 43.2x | 85.8% | 30.1% | 42.8% | +95pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | 8.7% | 105.3% | 182.1% | FLEX 481% · TTMI 407% · JBL 298% |
| Technology Distributors | 9 | 52.0% | 61.1% | 61.1% | AVT 145% · SNX 122% · CNXN 79% |
| Semiconductor Materials & Equipment | 28 | 37.5% | 48.1% | 42.4% | AXTI 350% · KLAC 297% · LRCX 286% |
| Communications Equipment | 36 | 6.5% | 99.5% | 38.9% | AAOI 740% · LITE 541% · ANET 467% |
| Electronic Components ← | 24 | 18.4% | 82.4% | 33.7% | CLS 1885% · BELFA 1079% · APH 306% |
| Electronic Equipment & Instruments | 27 | -4.5% | 31.5% | 0.9% | PI 135% · OSIS 106% · MIR 64% |
| Semiconductors | 55 | 11.2% | 41.5% | -4.2% | MU 912% · AVGO 561% · NVDA 476% |
| Technology Hardware, Storage & Peripherals | 21 | 9.7% | 81.0% | -11.6% | WDC 603% · DELL 551% · SMCI 534% |
| IT Consulting & Other Services | 30 | -14.4% | 0.2% | -23.1% | APLD 307% · IBM 145% · GIB -5% |
| Internet Services & Infrastructure | 6 | -8.9% | 41.0% | -25.0% | GDDY 59% · VRSN 37% · AKAM -24% |
| Application Software | 126 | -12.6% | -11.4% | -54.8% | PLTR 650% · FROG 178% · AGYS 151% |
| Systems Software | 71 | -9.6% | 12.4% | -59.8% | ZETA 254% · CRWD 221% · CVLT 151% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Rogers Earnings Notes | 12/16/2025 | |
| Is Rogers Stock Built to Withstand a Pullback? | 10/17/2025 | |
| As ROG Surges 20% in a Month, APH's Story Stands Out | 08/28/2025 | |
| ROG Dip Buy Analysis | 07/10/2025 | |
| Rogers Total Shareholder Return (TSR): -23.1% in 2024 and -28.1% 3-yr compounded annual returns (below peer average) | 03/07/2025 | |
| Rogers (ROG) Operating Cash Flow Comparison | 02/17/2025 | |
| Rogers (ROG) Net Income Comparison | 02/16/2025 | |
| Rogers (ROG) Operating Income Comparison | 02/15/2025 | |
| Rogers (ROG) Revenue Comparison | 02/13/2025 | |
| Rogers vs. S&P500 Correlation | 10/03/2024 | |
| ARTICLES | ||
| ROG’s One-Month Rally Offers a Chance to Reevaluate APH | 08/27/2025 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 93.44 |
| Mkt Cap | 4.2 |
| Rev LTM | 3,622 |
| Op Inc LTM | 239 |
| FCF LTM | 90 |
| FCF 3Y Avg | 66 |
| CFO LTM | 311 |
| CFO 3Y Avg | 260 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.7% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 18.0% |
| QoQ Delta Rev Chg LTM | 4.4% |
| Op Inc Chg LTM | 64.3% |
| Op Inc Chg 3Y Avg | 27.2% |
| Op Mgn LTM | 9.7% |
| Op Mgn 3Y Avg | 8.0% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 9.5% |
| CFO/Rev 3Y Avg | 9.3% |
| FCF/Rev LTM | 5.4% |
| FCF/Rev 3Y Avg | 4.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.2 |
| P/S | 2.0 |
| P/Op Inc | 28.0 |
| P/EBIT | 30.6 |
| P/E | 34.9 |
| P/CFO | 21.2 |
| Total Yield | 3.0% |
| Dividend Yield | 0.7% |
| FCF Yield 3Y Avg | 1.7% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -20.4% |
| 3M Rtn | -18.2% |
| 6M Rtn | -20.2% |
| 12M Rtn | 39.8% |
| 3Y Rtn | 72.3% |
| 1M Excs Rtn | -14.3% |
| 3M Excs Rtn | -15.6% |
| 6M Excs Rtn | -22.2% |
| 12M Excs Rtn | 30.6% |
| 3Y Excs Rtn | -8.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Advanced Electronics Solutions | 445 | 452 | 510 | 530 | 534 |
| Elastomeric Material Solutions | 350 | 361 | 379 | 420 | 378 |
| Other | 16 | 17 | 20 | 21 | 20 |
| Total | 811 | 830 | 908 | 971 | 933 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Elastomeric Material Solutions | 76 | 60 | 60 | 31 | 57 |
| Other | 7 | 7 | 7 | 4 | 6 |
| Advanced Electronics Solutions | 3 | 77 | 50 | 32 | |
| Advanced Connectivity Solutions | 49 | ||||
| Total | 85 | 144 | 117 | 67 | 112 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Advanced Electronics Solutions | 763 | 854 | 827 | 746 | |
| Elastomeric Material Solutions | 742 | 779 | 760 | 504 | 569 |
| Other | 12 | 13 | 12 | 14 | 23 |
| Advanced Connectivity Solutions | 402 | ||||
| Total | 1,517 | 1,646 | 1,599 | 1,264 | 994 |
Price Behavior
| Market Price | $128.28 | |
| Market Cap ($ Bil) | 2.3 | |
| First Trading Date | 03/17/1980 | |
| Distance from 52W High | -23.2% | |
| 50 Days | 200 Days | |
| DMA Price | $136.02 | $128.78 |
| DMA Trend | up | up |
| Distance from DMA | -5.7% | -0.4% |
| 3M | 1YR | |
| Volatility | 55.4% | 46.1% |
| Downside Capture | 197.72 | 127.36 |
| Upside Capture | 185.74 | 159.46 |
| Correlation (S&P 500) | 56.2% | 49.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.66 | 2.34 | 2.25 | 2.20 | 1.59 | 1.29 |
| Up Beta | -0.08 | -0.29 | 1.47 | 2.06 | 1.73 | 1.12 |
| Down Beta | 3.48 | 4.90 | 4.55 | 2.54 | 1.77 | 1.41 |
| Up Capture | 316% | 248% | 219% | 250% | 223% | 175% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 23 | 36 | 64 | 128 | 375 |
| Down Capture | 411% | 152% | 160% | 188% | 120% | 109% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 13 | 20 | 28 | 62 | 123 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ROG | |
|---|---|---|---|---|
| ROG | 52.5% | 46.1% | 1.05 | - |
| Sector ETF (XLK) | 17.8% | 28.5% | 0.56 | 58.8% |
| Equity (SPY) | 12.7% | 13.7% | 0.62 | 49.5% |
| Gold (GLD) | 0.3% | 28.9% | 0.00 | 20.3% |
| Commodities (DBC) | 34.5% | 21.3% | 1.28 | -4.9% |
| Real Estate (VNQ) | 11.7% | 14.2% | 0.53 | 2.5% |
| Bitcoin (BTCUSD) | -27.7% | 43.5% | -0.63 | 14.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ROG | |
|---|---|---|---|---|
| ROG | -13.8% | 40.2% | -0.24 | - |
| Sector ETF (XLK) | 16.6% | 26.5% | 0.57 | 41.0% |
| Equity (SPY) | 11.6% | 17.3% | 0.50 | 38.7% |
| Gold (GLD) | 17.2% | 19.1% | 0.72 | 10.2% |
| Commodities (DBC) | 7.4% | 19.6% | 0.26 | 2.9% |
| Real Estate (VNQ) | 1.4% | 18.9% | -0.04 | 26.2% |
| Bitcoin (BTCUSD) | 3.4% | 51.5% | 0.25 | 17.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ROG | |
|---|---|---|---|---|
| ROG | 9.0% | 43.7% | 0.36 | - |
| Sector ETF (XLK) | 22.9% | 25.3% | 0.83 | 45.2% |
| Equity (SPY) | 15.2% | 18.0% | 0.71 | 47.3% |
| Gold (GLD) | 11.7% | 16.6% | 0.58 | 4.2% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 13.4% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 33.5% |
| Bitcoin (BTCUSD) | 59.5% | 66.3% | 0.99 | 15.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2026 | 5.0% | -1.2% | |
| 7/28/2026 | -2.0% | 11.1% | 5.8% |
| 4/28/2026 | -1.6% | 6.8% | 12.0% |
| 2/17/2026 | 3.9% | 4.9% | -2.3% |
| 10/29/2025 | 5.6% | 2.5% | 1.1% |
| 7/31/2025 | 2.6% | 10.1% | 19.6% |
| 4/29/2025 | 4.0% | 5.9% | 13.3% |
| 2/19/2025 | -0.3% | -5.2% | -17.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 16 | 15 |
| # Negative | 8 | 8 | 8 |
| Median Positive | 3.7% | 4.5% | 6.5% |
| Median Negative | -1.8% | -2.1% | -3.0% |
| Max Positive | 29.6% | 29.6% | 30.1% |
| Max Negative | -6.6% | -5.5% | -17.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2026 | 5.0% | -1.2% | |
| 7/28/2026 | -2.0% | 11.1% | 5.8% |
| 4/28/2026 | -1.6% | 6.8% | 12.0% |
| 2/17/2026 | 3.9% | 4.9% | -2.3% |
| 10/29/2025 | 5.6% | 2.5% | 1.1% |
| 7/31/2025 | 2.6% | 10.1% | 19.6% |
| 4/29/2025 | 4.0% | 5.9% | 13.3% |
| 2/19/2025 | -0.3% | -5.2% | -17.1% |
| 10/24/2024 | 1.8% | 0.8% | 6.5% |
| 7/25/2024 | 0.4% | -4.9% | -12.0% |
| 4/25/2024 | 10.5% | 9.5% | 6.5% |
| 2/21/2024 | -1.5% | -1.6% | 1.7% |
| 10/26/2023 | 0.5% | -1.0% | 11.3% |
| 8/3/2023 | -2.8% | -2.5% | -6.3% |
| 4/27/2023 | 3.4% | 4.1% | 3.3% |
| 2/28/2023 | 5.1% | 8.9% | 3.9% |
| 11/8/2022 | -2.0% | 2.4% | 14.7% |
| 8/4/2022 | 1.1% | 0.4% | -3.3% |
| 4/28/2022 | -0.7% | -0.0% | -2.6% |
| 2/22/2022 | 0.0% | 0.3% | -0.2% |
| 11/2/2021 | 29.6% | 29.6% | 30.1% |
| 7/29/2021 | -6.6% | -5.5% | 3.2% |
| 4/29/2021 | 3.4% | 0.8% | -1.1% |
| 2/18/2021 | 9.1% | 3.8% | 16.3% |
| SUMMARY STATS | |||
| # Positive | 16 | 16 | 15 |
| # Negative | 8 | 8 | 8 |
| Median Positive | 3.7% | 4.5% | 6.5% |
| Median Negative | -1.8% | -2.1% | -3.0% |
| Max Positive | 29.6% | 29.6% | 30.1% |
| Max Negative | -6.6% | -5.5% | -17.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/28/2026 | 10-Q |
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/28/2026 | 10-Q |
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 04/29/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/01/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
Recent Forward Guidance
Updated 11/2/2026Latest: Q3 2026 Earnings Reported 10/27/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Adjusted Earnings Per Diluted Share | Reported | 0.9 | 1 | 1.1 | -16.7% | Lower New | Guidance: 1.2 for Q3 2026 | |
| Q4 2026 Net Sales | Reported | 215.00 Mil | 220.00 Mil | 225.00 Mil | -7.6% | Lower New | Guidance: 238.00 Mil for Q3 2026 | |
| Q4 2026 Gross Margin | Reported | 32.5% | 33.0% | 33.5% | -0.7% | Lower New | Guidance: 33.7% for Q3 2026 | |
| Q4 2026 Adjusted EBITDA | Reported | 37.00 Mil | 40.00 Mil | 43.00 Mil | -14.9% | Lower New | Guidance: 47.00 Mil for Q3 2026 | |
| 2026 Capital Expenditures | Reported | 30.00 Mil | 32.50 Mil | 35.00 Mil | 0.0% | Affirmed | Guidance: 32.50 Mil for 2026 | |
Prior: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Adjusted Earnings Per Diluted Share | Reported | 1.1 | 1.2 | 1.3 | 20.0% | Higher New | Actual: 1 for Q2 2026 | |
| Q3 2026 Net Sales | Reported | 233.00 Mil | 238.00 Mil | 243.00 Mil | 10.7% | Higher New | Actual: 215.00 Mil for Q2 2026 | |
| Q3 2026 Gross Profit | Calculated | 77.36 Mil | 80.21 Mil | 83.11 Mil | Rev x Gross Margin | |||
| Q3 2026 Gross Margin | Reported | 33.2% | 33.7% | 34.2% | 0.7% | Higher New | Actual: 33.0% for Q2 2026 | |
| Q3 2026 Adjusted EBITDA | Reported | 44.00 Mil | 47.00 Mil | 50.00 Mil | 23.7% | Higher New | Actual: 38.00 Mil for Q2 2026 | |
| 2026 Capital Expenditures | Reported | 30.00 Mil | 32.50 Mil | 35.00 Mil | -7.1% | Lowered | Guidance: 35.00 Mil for 2026 | |
Insider Activity
Updated 7/13/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Larabee, Brian Keith | SVP & GM - EMS | Direct | Sell | 5012026 | 135.91 | 830 | 112,805 | 749,544 | Form |
| 2 | Wallace, Peter C | Direct | Sell | 5012026 | 132.20 | 2,397 | 316,885 | 563,174 | Form | |
| 3 | Webb, Michael Reed | SVP & Chief Admin Officer | Direct | Sell | 3022026 | 111.31 | 954 | 106,191 | 864,775 | Form |
| 4 | Webb, Michael Reed | SVP & Chief Admin Officer | Direct | Sell | 2232026 | 107.28 | 673 | 72,202 | 973,499 | Form |
| 5 | Wallace, Peter C | Direct | Sell | 2202026 | 107.37 | 8,000 | 858,947 | 714,751 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Larabee, Brian Keith | SVP & GM - EMS | Direct | Sell | 5012026 | 135.91 | 830 | 112,805 | 749,544 | Form |
| 2 | Wallace, Peter C | Direct | Sell | 5012026 | 132.20 | 2,397 | 316,885 | 563,174 | Form | |
| 3 | Webb, Michael Reed | SVP & Chief Admin Officer | Direct | Sell | 3022026 | 111.31 | 954 | 106,191 | 864,775 | Form |
| 4 | Webb, Michael Reed | SVP & Chief Admin Officer | Direct | Sell | 2232026 | 107.28 | 673 | 72,202 | 973,499 | Form |
| 5 | Wallace, Peter C | Direct | Sell | 2202026 | 107.37 | 8,000 | 858,947 | 714,751 | Form | |
| 6 | Webb, Michael Reed | SVP & Chief Admin Officer | Direct | Sell | 2202026 | 106.25 | 1,197 | 127,181 | 1,035,619 | Form |
| 7 | Wallace, Peter C | Direct | Sell | 11122025 | 85.00 | 3,590 | 305,154 | 1,245,863 | Form | |
| 8 | Wallace, Peter C | Direct | Sell | 11122025 | 86.00 | 110 | 9,460 | 1,569,242 | Form | |
| 9 | Larabee, Brian Keith | SVP & GM - EMS | Direct | Sell | 10312025 | 85.87 | 775 | 66,546 | 383,133 | Form |
Investor Activity (13F)
Updated Nov 11, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Electronic Components Resources |
| Electronic Products |
| DigiKey Insights |
| Mouser Insights |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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