olivLaw · US equity research
Rogers Corporation ROG
Plastic Materials, Synth Resins & Nonvulcan Elastomers · SIC 2821 · Vertical: Plastic Materials, Synth Resins & Nonvulcan Elastomers (SIC 2821)
Rogers Corporation designs and sells high-performance engineered materials and components for advanced electronics, automotive, aerospace and defense, and specialty elastomers. After a difficult 2025 marked by lower sales and a major impairment, the company reported in the second quarter of 2026 net sales growth of 6.9%, and its third-quarter guidance points to continued improvement, though demand in several end markets remains uneven.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Rogers Corporation (ROG) stock was 128.70 USD (−2.92% on the day), with market capitalisation 2.3 bn USD, P/E 50.9 on diluted EPS of 2.53 USD over the last 12 months, beta 1.33, 52-week range 75.56–167.09 USD. Latest reported quarter (Q3 2026): revenue of 236.1 m USD (+9.3% YoY), net income of 22.6 m USD (+162.8% YoY), diluted EPS 1.26 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 42.8
- weak (30–45)
- Bollinger (20, 2)
- 122.78 – 150.25
- in the lower half of the band · %B 0.22 · band width 20.1%
- SMA 50 / 200
- 136.26 / 128.26
- mixed trend
- MACD (12, 26, 9)
- -2.41 / -1.55
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −19.1% | −1.1% | −18.0 pp | — |
| 3 months | −2.6% | −0.5% | −2.2 pp | — |
| 6 months | −8.5% | +4.4% | −12.8 pp | — |
| Year to date | +40.5% | +12.3% | +28.2 pp | — |
| 1 year | +56.3% | +13.5% | +42.8 pp | +9.2% |
| 3 years | +8.4% | +76.4% | −68.0 pp | −20.5% |
| 5 years | −52.2% | +63.7% | −115.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 192.2 m | 190.5 m | 202.8 m | 216.0 m | 201.5 m | 200.5 m | 216.8 m | 236.1 m |
| Cost of revenue | 130.5 m | 133.5 m | 138.8 m | 143.7 m | 138.0 m | 135.9 m | 146.4 m | 155.4 m |
| Gross profit | 61.7 m | 57.0 m | 64.0 m | 72.3 m | 63.5 m | 64.6 m | 70.4 m | 80.7 m |
| Research & development | 8.1 m | 7.1 m | 7.0 m | 7.4 m | 6.6 m | 6.7 m | 7.3 m | 7.0 m |
| SG&A | 49.9 m | 44.5 m | 48.5 m | 41.6 m | 42.0 m | 41.2 m | 42.2 m | 42.6 m |
| Operating income | -12.7 m | -300.0 k | -67.5 m | 15.7 m | 7.1 m | 10.7 m | 20.0 m | 30.1 m |
| Depreciation & amortisation | 13.1 m | 12.6 m | 13.9 m ≈ | 13.2 m ≈ | 14.6 m | 13.4 m | 13.2 m ≈ | 13.3 m ≈ |
| Pre-tax income | -2.7 m | -1.6 m | -69.3 m | 16.3 m | 9.5 m | 11.3 m | 21.4 m | 31.0 m |
| Income tax | -2.2 m | -200.0 k | 4.3 m | 7.7 m | 4.9 m | 6.8 m | 7.8 m | 8.4 m |
| Net income | -500.0 k | -1.4 m | -73.6 m | 8.6 m | 4.6 m | 4.5 m | 13.6 m | 22.6 m |
| Diluted EPS | -0.03 ≈ | -0.08 | -4.00 | 0.48 | 0.26 ≈ | 0.25 | 0.76 | 1.26 |
| Operating cash flow | 33.7 m | 11.7 m | 13.7 m ≈ | 28.9 m ≈ | 46.9 m | 5.8 m | 24.4 m ≈ | 41.4 m ≈ |
| Capex | 15.4 m | 9.6 m | 8.1 m ≈ | 7.7 m ≈ | 4.7 m | 4.7 m | 6.1 m ≈ | 6.0 m ≈ |
| Share repurchases | 11.9 m | 0 | 28.1 m ≈ | 10.0 m | 14.3 m | — | — | 9.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 36-quarter history (min 19.5, median 38.9, max 304.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 879.1 m | 898.3 m | 802.6 m | 932.9 m | 971.2 m | 908.4 m | 830.1 m | 810.8 m |
| Revenue YoY | +7.1% | +2.2% | −10.7% | +16.2% | +4.1% | −6.5% | −8.6% | −2.3% |
| Net income | 87.7 m | 47.3 m | 50.0 m | 108.1 m | 116.6 m | 56.6 m | 26.1 m | -61.8 m |
| Net income YoY | +8.9% | −46.0% | +5.6% | +116.2% | +7.9% | −51.5% | −53.9% | −336.8% |
| Diluted EPS | 4.70 | 2.53 | 2.67 | 5.73 | 6.15 | 3.03 | 1.40 | -3.40 |
| Diluted EPS YoY | +8.3% | −46.2% | +5.5% | +114.6% | +7.3% | −50.7% | −53.8% | −342.9% |
| net % | 10.0% | 5.3% | 6.2% | 11.6% | 12.0% | 6.2% | 3.1% | -7.6% |
| Free cash flow | 19.7 m | 109.7 m | 124.7 m | 53.3 m | 12.7 m | 74.4 m | 71.0 m | 71.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 197.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 1.2 bn USD
- Total assets
- 1.4 bn USD
- Debt / equity
- unavailable
- Current ratio
- 3.97x
- ROE
- -5.1%
- ROA
- -4.2%
- FCF margin
- 8.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 802.6 m | 932.9 m | 971.2 m | 908.4 m | 830.1 m | 810.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Cost of revenue | 510.8 m | 583.8 m | 650.2 m | 601.3 m | 553.0 m | 554.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Gross profit | 291.8 m | 349.1 m | 321.0 m | 307.1 m | 277.1 m | 256.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Research & development | 29.3 m | 29.9 m | 35.2 m | 35.7 m | 34.6 m | 28.1 m | SEC (XBRL)· 19 Feb 2026verified |
| SG&A | 182.3 m | 193.1 m | 218.8 m | 202.3 m | 193.4 m | 176.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | 67.3 m | 117.2 m | 144.4 m | 85.3 m | 24.9 m | -45.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Depreciation & amortisation | 71.4 m | 43.3 m | 45.9 m | 51.1 m | 49.4 m | 54.3 m | SEC (XBRL)· 19 Feb 2026verified |
| EBITDA | 138.8 m ≈ | 160.5 m ≈ | 190.3 m ≈ | 136.4 m ≈ | 74.3 m ≈ | 9.3 m ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Interest expense | 6.5 m | — | — | — | — | — | SEC (XBRL)· 19 Feb 2021verified |
| Pre-tax income | 68.5 m | 126.3 m | 140.4 m | 76.3 m | 34.3 m | -45.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 18.5 m | 18.2 m | 23.8 m | 19.7 m | 8.2 m | 16.7 m | SEC (XBRL)· 19 Feb 2026verified |
| Net income | 50.0 m | 108.1 m | 116.6 m | 56.6 m | 26.1 m | -61.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | 2.67 | 5.73 | 6.15 | 3.03 | 1.40 | -3.40 | SEC (XBRL)· 19 Feb 2026verified |
| Weighted average diluted shares | 18.7 m | 18.9 m | 19.0 m | 18.7 m | 18.6 m | 18.2 m | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 191.8 m | 232.3 m | 235.9 m | 131.7 m | 159.8 m | 197.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Receivables | 134.4 m | 163.1 m | 177.4 m | 161.9 m | 135.3 m | 130.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Inventories | 102.4 m | 133.4 m | 182.4 m | 153.5 m | 142.3 m | 125.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 474.2 m | 584.1 m | 659.9 m | 526.9 m | 493.9 m | 500.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Goodwill | 270.2 m | 370.2 m | 352.4 m | 359.8 m | 357.6 m | 303.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 118.0 m | 176.4 m | 133.7 m | 123.9 m | 110.3 m | 99.3 m | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 1.3 bn | 1.6 bn | 1.6 bn | 1.5 bn | 1.5 bn | 1.4 bn | SEC (XBRL)· 19 Feb 2026verified |
| Accounts payable | 36.0 m | 64.7 m | 57.3 m | 50.3 m | 48.1 m | 42.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Long-term debt | 25.0 m | 190.0 m | 215.0 m | 30.0 m | 0 | — | SEC (XBRL)· 26 Feb 2025verified |
| Current liabilities | 111.5 m | 163.9 m | 142.5 m | 116.4 m | 123.5 m | 126.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 1.0 bn † | 1.1 bn † | 1.2 bn † | 1.3 bn † | 1.3 bn † | 1.2 bn † | SEC (XBRL)· 19 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 165.1 m | 124.4 m | 129.5 m | 131.4 m | 127.1 m | 101.2 m | SEC (XBRL)· 19 Feb 2026verified |
| Capex | 40.4 m | 71.1 m | 116.8 m | 57.0 m | 56.1 m | 30.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Free cash flow | 124.7 m ≈ | 53.3 m ≈ | 12.7 m ≈ | 74.4 m ≈ | 71.0 m ≈ | 71.1 m ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Investing cash flow | -40.4 m | -238.6 m | -113.1 m | -47.9 m | -45.6 m | -14.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | -104.2 m | 159.0 m | -10.1 m | -190.3 m | -50.1 m | -53.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Share repurchases | 0 | 0 | 25.0 m | 0 | 19.8 m | 52.4 m | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.3 bn USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 47.93 – 69.67 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E47.93 – 69.67 (Mid 57.66)4 companies used · median multiple 22.8x · quartiles 19.0x – 27.6xALB, AVNT, EMN, HXL
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 5.3% | 63 (vs peers) | 13% |
| FCF conversion · Quality | 214.1% | 100 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | -5.8% | 0 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.1x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 50.9x | 20 (vs peers) | 21% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.2% | 53 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 1.2% | 17 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality81/100 · 2/3 factors with a value
- Returns· partial17/100 · 1/2 factors with a value
- Valuation35/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ROGERS CORP (ROG). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 810.8 m USD in 2025; YoY growth -2.3%; net margin 5.3%; ROE 3.7%.
The estimated value range is 47.93–69.67 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 57.66 USD, the price of 128.70 USD leaves a potential of -55.2% (value / price − 1) and a margin of safety of -123.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 214.1%
- Current ratio: 4.1x
What contradicts it
- Revenue CAGR 3Y: -5.8%
- P/E (TTM): 50.9x
- Shareholder yield (distributions): 1.2%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Plastic Materials, Synth Resins & Nonvulcan Elastomers (SIC 2821) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DOWDow Inc. | 23.7 bn | — | -4.3% | -1.7% | −7.0% | +37% / −37% |
| DDDupont De Nemours, Inc. | 20.0 bn | 73.5 | 1.7% | 4.3% | +1.9% | +26% / +68% |
| ALBAlbemarle Corporation | 11.2 bn | 21.1 | 6.6% | 11.1% | −4.4% | −27% / −22% |
| EMNEastman Chemical Co | 7.7 bn | 12.4 | 10.4% | 6.9% | −6.7% | +9% / −19% |
| HXLHexcel Corporation | 6.3 bn | 36.8 | 11.9% | 8.5% | −0.5% | +9% / +20% |
| AVNTAvient Corporation | 4.4 bn | 24.5 | 7.5% | 5.3% | +0.6% | +56% / +39% |
| ROGRogers Corp | 2.3 bn | 50.9 | 3.7% | 5.3% | −2.3% | +56% / +8% |
| PCTPureCycle Technologies, Inc. | 560.8 m | — | -432.6% | -1,370.9% | unavailable | −68% / −31% |
| ASIXAdvanSix Inc. | 419.2 m | — | -2.8% | -1.4% | +0.3% | +1% / −41% |
1- and 3-year price returns: for ROG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 69.32 Total return -46% · Per year -46% | 123.17 Total return -4% · Per year -4% | 186.37 Total return 45% · Per year 45% |
| 3 years | 55.04 Total return -57% · Per year -25% | 111.16 Total return -14% · Per year -5% | 186.37 Total return 45% · Per year 13% |
| 5 years | 43.70 Total return -66% · Per year -19% | 100.32 Total return -22% · Per year -5% | 186.37 Total return 45% · Per year 8% |
- Exit P/E± 27.79
- Net margin± 19.45
- Annual revenue growth± 17.57
- Annual dilution± 1.63
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (27 Oct 2026 · results).
In brief
Rogers Corporation designs and sells high-performance engineered materials and components for advanced electronics, automotive, aerospace and defense, and specialty elastomers. After a difficult 2025 marked by lower sales and a major impairment, the company reported in the second quarter of 2026 net sales growth of 6.9% 3, and its third-quarter guidance points to continued improvement, though demand in several end markets remains uneven.
SWOT
Strengths
- A strong position in high-performance materials, backed by a long history of innovation and a diversified customer base. Close technical relationships with OEMs give it a competitive edge.
- A broad portfolio of well-known trade names and patents that offer protection in certain technology niches.
- A balance sheet with available liquidity and improving operating cash flow in the second quarter of 2026.
Weaknesses
- Reliance on sole or limited-source suppliers for critical raw materials can lead to disruptions and higher costs.
- A major impairment of the curamik unit and thin margins in 2025 point to production efficiency problems.
- High exposure to foreign markets and a workforce located mainly outside the United States.
Opportunities
- Growth in data centers, advanced driver assistance and renewable energy could support sales expansion.
- Targeted acquisitions and optimized global capacity could complement organic growth.
- New products and commercial initiatives could win design-ins and gain market share.
Threats
- Tariffs and supply chain fragmentation could raise costs and limit access to certain markets.
- Better-resourced rivals or alternative technologies could reduce demand for existing products.
- Asbestos-related product liability litigation and environmental rule changes could create unexpected costs.
Risks
- Reliance on sole-source suppliershigh
For some critical raw materials the company depends on sole or limited-source suppliers. Disruptions or price increases could affect production and margins.
- Impairment and reorganizationhigh
The major impairment in 2025 and restructuring costs show that factory changes can bring significant charges and disruption.
- Currency and geopolitical exposuremedium
Most sales come from abroad, making results sensitive to exchange rates, trade tensions and instability in regions where the company operates.
- Asbestos litigationmedium
The company is involved in asbestos-related product liability litigation. Outcomes could create additional financial obligations.
- Volatile EV/HEV demandmedium
Customers managed inventories unevenly, reducing EV/HEV sales. Delays in adopting new technologies could keep pressure on volumes.
Investment thesis
What would need to be true (bull case)
- If the demand recovery in industrial, electronics and communications holds, the third-quarter guidance could reflect a more durable improvement cycle.
- Technology positions in aerospace, defense and data infrastructure could offer long-term growth, especially if new products convert into contracts.
- Cost and footprint programs could lift margins if manufacturing efficiency keeps improving.
What would break the thesis
- If EV/HEV and automotive demand stays weak, volumes could remain below earlier levels and margins could stay under pressure.
- Tariffs and geopolitical tensions could limit access to key markets and raise supply costs.
- Restructuring charges and repeated impairments could signal structural issues that take longer to resolve.
What to watch
- Delivery against sales and gross margin guidanceQ3 2026
- Evolution of EV/HEV and automotive demand2026
- Progress of curamik footprint consolidation and efficiency programsnext 10-K
- Developments in asbestos-related litigationnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (27 Oct 2026 · results).
The business
Rogers runs two strategic segments, Advanced Electronics Solutions (AES) and Elastomeric Material Solutions (EMS), plus an Other segment of non-core businesses. The company is headquartered in Chandler, Arizona, and sells mainly through direct channels to OEMs and component suppliers. According to the 2025 annual report, sales outside the US made up about 72% of revenue, and net sales were 810.8 million USD 1.
The stated strategy rests on four principles: a market-driven organization, innovation leadership, operational excellence and synergistic acquisitions. Current priorities are near-term profitability gains, stronger commercial activity and optimizing global manufacturing capacity. Revenue growth is expected mainly from organic business, potentially supplemented by targeted acquisitions.
At the end of 2025 the company employed roughly 3,000 people, with manufacturing sites in the US, China, Germany, Belgium, Hungary, South Korea and England. This geographic footprint makes results sensitive to currency moves, tariffs and geopolitical tensions.
Segments
Elastomeric Material Solutions (EMS)
EMS supplies polyurethane, silicone and PTFE-based materials for cushioning, sealing and insulation across EV/HEV, industrial, portable electronics, automotive and aerospace. EMS net sales in 2025 were 349.7 million USD 1, and gross margin fell to 34.2% 1 on lower volumes and unfavorable yields.
Market context
The company serves end markets such as vehicle electrification, advanced driver assistance, aerospace and defense, consumer electronics, renewable energy and communications infrastructure. The July 2026 quarterly release notes improving customer demand, especially in industrial and electronics and communications 3, while the pace of recovery in automotive and EV/HEV remains uncertain.
Third-quarter 2026 guidance calls for net sales of 233 to 243 million USD and a gross margin of 33.2% to 34.2% 3. If this trajectory holds, it could mark a stronger recovery after a weak 2025, but outcomes depend on sustained demand and supply chain conditions.
Trends
- Vehicle electrification and ADASmixed
Rising adoption of EV/HEV and ADAS creates openings for Rogers' circuit materials and cooling solutions. However, EV/HEV demand fell in 2025 as customers managed inventory, and delays in adopting new technologies could weigh on volumes.
- Aerospace, defense and communicationstailwind
Upgrades to communication systems and growing global air travel support demand for materials used in radar and antenna systems. The company reported growth in aerospace and defense during 2025, a persistent favorable factor.
- Trade tensions and tariffsheadwind
Trade policy, tariffs and the risk of supply chain decoupling could raise costs and limit access to foreign markets. With most sales abroad, the company is exposed to these shifts.
- Currency and inflation pressuresmixed
Moves in European and Asian currencies against the dollar affect reported revenue, while high inflation and interest rates could dampen equipment demand. The net impact depends on how the global economy evolves.
Competitive position
Rogers competes with high-end materials producers, some of them large multinationals, on innovation, customer relationships, quality, reliability and technical support. It also faces commodity materials producers, especially in Asia, that compete mainly on price.
Rivals with greater financial resources or entrenched positions in specific niches could reduce demand for Rogers' products or pressure pricing. OEM customers pursuing cost reductions may also demand harsher commercial terms.
- High-end materials producers (multinationals)
Main rivals in high-performance engineered materials, competing on innovation and greater financial resources.
- Asian commodity materials producers
Compete mainly on price, especially for products late in their life cycle.
- Smaller regional producers
Local competition, particularly in Asia, focused on lower costs.
- Providers of alternative solutions
Offer substitutes based on disruptive technologies that can remove the need for certain materials.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- El-Sayed: Michigan rejected ‘hateful, spiteful campaign’The Hill · 05 Nov 2026 · EN
- Cei mai mari câștigători și perdanți ai alegerilor din SUASpotMedia.ro · 05 Nov 2026 · RO
- Haley Stevens triples down on Rogers endorsement after El-Sayed’s victoryThe Hill · 04 Nov 2026 · EN
- „JD, habibi”. Ținta sarcasmului lui Trump și Vance, democratul musulman care a produs surpriza în Michigan răspunde cu „o delicioasă ironie” constituționalăHotNews.ro · 04 Nov 2026 · RO
- NASA navigation experiment shows promise for planetary landingsPhys.org · 04 Nov 2026 · EN
- Reuters: Democraţii promit să tempereze puterile lui Trump după o victorie zdrobitoare în alegerile intermediare, iar Trump ameninţă cu veto - Ziarul BursaBURSA.ro · 04 Nov 2026 · RO
- Cine este Abdul El-Sayed, democratul musulman care a câștigat în Michigan: A fost acuzat de legături cu Frăția Musulmană. Scandalurile care au împărțit electoratul - Oficiul de ȘtiriSurge — Google News · 04 Nov 2026 · RO
- Partidul Democrat a obținut controlul asupra Congresului SUA. - Vietnam.vnSurge — Google News · 04 Nov 2026 · RO
- El-Sayed tells Sky News reporter he wants ‘zero’ votes in UKThe Hill · 04 Nov 2026 · EN
- Toamna se culeg fructele mâniei: Midterms 2026 și Congresul pierdut de TrumpContributors.ro · 04 Nov 2026 · RO
- Trump's Party Has Lost the Elections: What Does Romania Gain? - Ziarul BursaBURSA.ro · 04 Nov 2026 · RO
- El-Sayed: ‘Delicious irony’ that ‘habibi’ Vance ‘constitutionally obligated’ to swear him inThe Hill · 04 Nov 2026 · EN
- ‘Call me senator’: How Abdul El-Sayed beat Trump’s hate to create historyAl Jazeera English · 04 Nov 2026 · EN
- Trump suffers crushing midterms defeat as Democrats seize control of the House and Senate - Universul.netSurge — Google News · 04 Nov 2026 · RO
- Who is Abdul El-Sayed, first Muslim U.S. Senator-elect?The Hindu — International · 04 Nov 2026 · EN
- Left-wing Democrat Abdul El-Sayed wins in Michigan to become first Muslim senatorBBC World News · 04 Nov 2026 · EN
- ‘Rejecting hate’: Abdul El-Sayed wins Senate seat despite racist attacksAl Jazeera English · 04 Nov 2026 · EN
- Alegeri SUA 2026. Victorie zdrobitoare a democraților care obțin majoritatea în Camera Reprezentanților și în Senat. Surprize uriașe în mai multe stateMediafax · 04 Nov 2026 · RO
- Americanii au ales ”schimbarea” - spre comunism în zbor: Prima femeie de culoare guvernator, primul homosexual declarat și primul musulman, de extremă stânga, ajung în Senat. Abdulrahman Mohamed El-Sayed: INSHALLAH! - ActiveNewsSurge — Google News · 04 Nov 2026 · RO
- Cine este Abdul El-Sayed, primul musulman ales în Senatul SUA: „Am vorbit despre un Michigan mai luminos, mai plin de speranţă”Digi24 · 04 Nov 2026 · RO
SEC filings
- Quarterly report28 Oct 2026
- Current report27 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report28 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report19 May 2026Departure or appointment of officers · Other events · Financial statements and exhibits
- Current report07 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report29 Apr 2026
- Current report28 Apr 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement24 Mar 2026
- Current report03 Mar 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Rogers Corporation · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Rogers Corporation · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Rogers Corporation · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.