Rogers Communications Inc. (RCI) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Rogers Communications Inc.

Market cap $18B · 52 weeks $30 – $41 (17% below the high) · P/E 27.5× · 2027 est. P/E 14.2× · Dividend 4.3% · Next earnings February 4, 2027 · expected EPS $0.95 · Closing price, Nov 5 · accounts published Oct 23.

• Valuation: TTM P/E 27.5× (expensive).
• Business: EBITDA margin 67.9% (excellent).
• Balance sheet: Net debt/EBITDA 2.9× (solid).
• Earnings: 7 of 8 (on track).

Where would it trade at its usual multiples?

At the decade median (15.5×) $19 (-44%); at its sector median (19.1×) $24 (-31%). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in communication: 7 of 7 pass

• 3y revenue growth 9.8%, passes.
• EBITDA margin 67.9%, passes.
• FCF yield 12.8%, passes.
• Capex / Revenue 17.1%, passes.
• Net debt / EBITDA 2.9×, passes.
• Payout on FCF 44.5%, passes.
• EV/EBITDA vs own 5y 7.6×, passes.

Against its peers (reference peers) — Rogers Communications Inc.: P/E 27.5×; EV/EBITDA 7.6×; ROIC 3.6%; $18.4B. Telefônica Brasil S.A. (P/E 15.1×; EV/EBITDA 4.3×; ROIC 7.9%; $18.1B), Charter Communications, Inc. (P/E 3.3×; EV/EBITDA 5.3×; ROIC 6.9%; $17.0B), BCE Inc. (P/E 4.6×; EV/EBITDA 4.7×; ROIC 6.0%; $20.5B).

Expensive or cheap against its last ten years?

P/E at each close: today 27.5× · median 15.5× · minimum 6.7× · maximum 27.5× · cheap vs. its own history below 13.0× · expensive vs. its own history above 18.1×. It has been cheaper than today 100% of the time over its last ten years.

Dividend

tight (only raised recently) · Yield (last 12 months) 4.3% · $1.39 per ADS in fiscal 2025 · Years raising it 1 · 5-year growth -0.6% a year · Free cash flow coverage 1.8× (last three fiscal years) · With $1,000 invested today you'd collect $42.60 a year ($3.55 a month).