At a glance
Rogers Corporation is worth $2.51B. Revenue fell 2.3% to $810.8M in fiscal 2025, at a loss; over 5 years it has grown 0.2% a year. It pays no dividend; it spent $97.2M buying back its shares over FY2021–FY2025. The stock returned +64.2% over the past year with dividends reinvested and −6.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 37.4% in the 2020 crash (S&P 500: 33.7%) and 15.6% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Rogers Corporation makes specialty materials and components that manufacturers build into their products, such as circuit materials for radar and antennas, cooling parts for electric vehicles, and cushioning and sealing materials for portable electronics and cars. Based in Chandler, Arizona, it sold to about 2,800 customers in 2025, mostly OEMs (original equipment manufacturers, which make the finished products) and component suppliers. No customer topped 10% of sales.
The larger segment, Advanced Electronics Solutions, brought in $445.2 million, or 55% of 2025 revenue of $810.8 million. It sells circuit materials, ceramic substrates, busbars (metal bars that carry large electrical currents) and cooling solutions under names such as RO4000 and curamik. Main markets include electric and hybrid vehicles, driver-assistance systems, aerospace and defense, renewable energy and wireless networks. Elastomeric Material Solutions, 43% of revenue, sells polyurethane, silicone and other engineered materials under brands such as PORON and BISCO. A small Other segment (2%) makes elastomer components and floats for fuel and storage tanks.
Rogers works with customers' engineers so its materials get "designed in" to their products; sales depend on how well those products sell. By region, China was the largest market at 31% of revenue, followed by the U.S. at 28%, elsewhere in Europe, the Middle East and Africa at 19%, other Asia-Pacific at 11% and Germany at 10%.
Price history
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ROG +64.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Advanced Electronics Solutions | $445.2M | 54.9% |
| Elastomeric Material Solutions | $349.7M | 43.1% |
| Other | $15.9M | 2% |
By geography
| China | $251.2M | 31% |
| U.S. | $228.9M | 28.2% |
| Other EMEA | $153.9M | 19% |
| Other APAC | $84.9M | 10.5% |
| Germany | $78.2M | 9.6% |
| Other Americas | $13.7M | 1.7% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $236.1M, up 9.3% from a year earlier, and net income was $22.6M (+162.8%).
- For fiscal 2025, revenue was $810.8M (-2.3% year over year; +0.2% a year from FY2020 to FY2025) with a -7.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +0.2% watch |
|---|---|
| Operating margin | -5.6% weak |
| Free cash flow margin | 8.8% watch |
| Return on equity (FY2025) | -5.2% weak |
| Return on assets (FY2025) | -4.3% weak |
| Cash and investments | $236.4M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $802.6M | $50.0M | $124.7M |
| FY2021 | $932.9M | $108.1M | $53.3M |
| FY2022 | $971.2M | $116.6M | $12.7M |
| FY2023 | $908.4M | $56.6M | $74.4M |
| FY2024 | $830.1M | $26.1M | $71.0M |
| FY2025 | $810.8M | $-61.8M | $71.1M |
Valuation snapshot
| Market value | $2.51B |
|---|---|
| P/E ratio | — |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Rogers’s market value went from $1.38B at the end of 2016 to $2.51B on Oct 28, 2026, up 81%; since the end of 2025 it is up 52%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.51B | +52.1% |
| 2025 | $1.65B | -13.1% |
| 2024 | $1.90B | -22.9% |
| 2023 | $2.46B | +9.5% |
| 2022 | $2.25B | -56.1% |
| 2021 | $5.11B | +76.3% |
| 2020 | $2.90B | +25.2% |
| 2019 | $2.32B | +27.2% |
| 2018 | $1.82B | -38.3% |
| 2017 | $2.95B | +114.0% |
| 2016 | $1.38B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ROG price data to Oct 28, 2026 | +53.8% | +64.2% | +5.6% | -6.7% | +10.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +53.8% |
| 2025 | -9.9% |
| 2024 | -23.1% |
| 2023 | +10.7% |
| 2022 | -56.3% |
| 2021 | +75.8% |
| 2020 | +24.5% |
| 2019 | +25.9% |
| 2018 | -38.8% |
| 2017 | +110.8% |
| 2016 | +48.9% |
| 2015 | -36.7% |
| 2014 | +32.4% |
| 2013 | +23.8% |
| 2012 | +34.7% |
| 2011 | -3.6% |
| 2010 | +26.2% |
| 2009 | +9.2% |
| 2008 | -36.0% |
| 2007 | -26.7% |
| 2006 | +51.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 64.9% over that stretch · deepest drop along the way 70.1%, back to its old high 28.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 30.8% over that stretch · deepest drop along the way 37.4%, back to its old high 3.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.4% over that stretch · deepest drop along the way 15.6%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 6 sales ($1.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 19, 2026 | Peter C Wallace Director | sell | $859K |
| Apr 30, 2026 | Peter C Wallace Director | sell | $190K |
| Apr 30, 2026 | Peter C Wallace Director | sell | $127K |
| May 1, 2026 | Brian Keith Larabee SVP & GM - EMS | sell | $113K |
| Mar 2, 2026 | Michael Reed Webb SVP & Chief Admin Officer | sell | $106K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.7% | Mar 31, 2025 |
| Vanguard Portfolio Management | 7.59% | Mar 31, 2026 |
| Capital Research Global Investors | 6.2% | Jun 30, 2026 |
| Norges Bank | 5.5182% | Jun 30, 2026 |
| Vanguard Capital Management | 5.18% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 4.9% | Sep 30, 2025 |
| BlackRock Portfolio Management LLC | 4.7% | Sep 30, 2025 |
| Neuberger Berman Group LLC | 2.2% | Apr 30, 2025 |
ETFs with the most weight in ROG
| ETHO Amplify Etho Climate Leadership U.S. ETF | 0.31% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.25% |
| OASC OneAscent Small Cap Core ETF | 0.25% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.21% |
| ISMD Inspire Small/Mid Cap ETF | 0.19% |
| SLYV SPDR S&P 600 Small Cap Value ETF | 0.18% |
| IJS iShares S&P Small-Cap 600 Value ETF | 0.18% |
| QIDX Indexperts Quality Earnings Focused ETF | 0.18% |
What could go wrong
- Swings in EV and other growth markets. Rogers targets growth in electric vehicles, driver-assistance systems, portable electronics, renewable energy and defense. Delays in these markets have already cut demand for some products, causing overcapacity, extra inventory and price cuts.
- Large exposure to China and trade tensions. China was 31% of 2025 revenue, and Rogers manufactures in Suzhou. Tariffs, sanctions and Chinese efforts to rely less on foreign suppliers could limit or stop some customers from buying from Rogers.
- Sales hinge on customers' product success. Rogers spends on development well before any sales. Revenue then depends on customers choosing its materials, building their products in volume and those products selling. Customers can also swap in rival materials.
- Few suppliers for some raw materials. Some raw materials come from only one or a few suppliers. Key inputs include copper, silver, specialty polymers and silicone. Price spikes or supply interruptions could slow production and raise costs.
- Price pressure from rivals and big customers. Some rivals have greater resources, and smaller regional producers, especially in Asia, compete mainly on price for older products. Electronics and auto makers also press suppliers for price cuts, which can squeeze margins.
- Asbestos and other product liability lawsuits. Rogers faces ongoing asbestos-related product liability lawsuits (claims that its products caused harm) and other claims. Outcomes of current and future cases are uncertain and could bring costs that hurt results.
Recent events
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Other company announcement
- Executive or board change; Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Rogers paid no dividends in fiscal 2021 through 2025, so the stock provided no regular income; an investor needing cash would have to sell shares. It returned cash through buybacks instead: $97.2 million over those five years, including $52.4 million in 2025. The share count fell about 5% between November 2021 and October 2026. Free cash flow (cash from operations minus capital spending) was $71.1 million in 2025, despite a net loss of $61.8 million.
The shares have fallen hard in downturns. They dropped about 70% from October 2007 to March 2009 and regained that peak by July 2011, about 28 months after the low. In the 2020 COVID crash they fell about 37% in under three weeks, then recovered by June 30, 2020. The stock lost 56% in calendar 2022 and had not regained its January 2022 level as of October 28, 2026. Single stocks like this carry more risk than diversified funds.
Questions investors ask
Does Rogers Corp pay a dividend?
No. Rogers paid no dividends in fiscal 2021 through 2025. It returned cash through share buybacks instead, spending $97.2 million over those five years, including $52.4 million in 2025. That helped cut the share count about 5% between November 2021 and October 2026. Investors looking for regular income would get none from this stock; any return comes from the share price.
How does Rogers Corporation make money?
Rogers sells engineered materials and components to manufacturers. Its Advanced Electronics Solutions segment, 55% of 2025 revenue, makes circuit materials, ceramic substrates, busbars and cooling solutions for electric vehicles, radar, wireless networks and renewable energy. Its Elastomeric Material Solutions segment, 43%, makes polyurethane and silicone materials under brands such as PORON for cushioning, sealing and vibration control. It sold to about 2,800 customers in 2025, and no single customer topped 10% of sales.
Is Rogers Corp profitable?
It lost money in fiscal 2025 but was profitable in the quarter ended September 30, 2026. For the year ended December 31, 2025, Rogers lost $61.8 million, or $3.40 per diluted share, on revenue of $810.8 million, after net income shrank from $116.6 million in 2022 to $26.1 million in 2024. It still produced $71.1 million in free cash flow. In the September 2026 quarter, net income was $22.6 million and revenue rose 9.3% from a year earlier to $236.1 million.
How much of Rogers' sales come from China?
About 31%. China was Rogers' largest market in the year ended December 31, 2025, at $251.2 million of $810.8 million in revenue, ahead of the U.S. at 28.2%. Rogers also manufactures in Suzhou, China. The company lists worsening U.S.–China trade relations, tariffs, sanctions and Chinese policies to reduce reliance on foreign suppliers as risks that could limit or prevent some customers from doing business with it.
How has Rogers stock performed over the long term?
Unevenly, with large swings. As of October 28, 2026, the stock had gained 64.2% over one year and averaged 5.6% a year over three years and 10.2% a year over ten years, but it lost an average of 6.7% a year over five years, or 29% in total. Its one-year beta was 1.46, meaning it tended to move about one and a half times as much as the broad market. Over about 21 years of price history, its worst fall from a peak was 80.8%.