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Rogers Communications Inc (RCI) Fair Value & Analysis

Communication Services · US · Market cap $20.3B · ISIN CA7751092007

What is Rogers Communications Inc really worth?

RC Rogers Communications Inc logo Rogers Communications Inc RCI · US
Price$37.52
Fair Value$140.44
Upside+274.3%
Quality44/100

Below-average quality, trading 73% below our fair value of $140.44.

As of Aug 29, 2026, the fair value of Rogers Communications Inc is $140.44 per share against a price of $37.52, so the fair value sits 274% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 31.7% net margin
Ranks above peers (10/14)
Wide moat 78/100

Risks

!Mixed Growth (revenue 5y +9.3 %/yr)
!High debt · generates free cash flow

For context

·5.33% dividend yield
Evidence: High Range $85.54 – $184.77

Fair value as of: Aug 29, 2026

From 24 valuation models · updated 8 days ago

Share price +10.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case ($85.54). The market is more pessimistic than our downside scenario.
  • A fairly wide model range ($85.54 to $184.77) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$51.87 $22.34 Fair Value $140.44 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $22.34 – $51.87 · fair‑value band $85.54 – $184.77 · the $37.52 price screens below the $140.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Rogers Communications Inc (RCI) currently trades at $37.52, while our model-based Fair Value estimate is $140.44, implying the stock looks roughly 73.3% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Communication Services sector. Bull case: the Growth Earnings group reads highest at a median of $243.92 per share, and 18 of the 24 models we run sit above the $37.52 price. Bear case: the Asset-Based group reads lowest at $22.00, and 6 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Rogers Communications Inc generated revenue of $22.2B at a net margin of 31.7%. Revenue grew 10.2% year over year. It earns a return on equity of 40.7%. Net debt stands at $42.8B. Fundamentals as of Aug 29, 2026

Our scenario range runs from $85.54 (bear case) to $184.77 (bull case); at $37.52, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 7% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at 274%, RCI screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.99 per share, which is 4.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence $11.35 $51.13 76
Growth DCF $9.42 $42.83 74
Owner Earnings $103.91 $194.35 $330.95 73
All 24 models by family
DCF Models
FCF DCF best evidence $11.35 $51.13 76
Owner Earnings $103.91 $194.35 $330.95 73
5Y Revenue Exit $5.31 $51.84 $111.43 64
5Y EBITDA Exit $48.25 $131.55 $228.94 70
5Y P/E Exit $74.46 $180.20 $291.16 67
10Y Revenue Exit $35.59 $90.38 63
10Y EBITDA Exit $24.74 $90.70 $179.43 62
10Y P/E Exit $41.40 $124.34 $226.59 59
Earnings-Based
Graham-Dodd $86.64 $259.36 $343.58 62
Lynch FV $54.94 $78.48 $102.03 58
PEG = 1.0 $54.94 $78.48 $102.03 55
EPV $11.78 $24.39 $35.42 69
Multiples
P/E Multiple $210.22 $280.29 $350.36 61
P/S Multiple $105.33 $140.44 $175.55 56
P/B Multiple $86.18 $114.91 $143.64 53
EV/EBIT $47.42 $84.51 $121.61 62
EV/EBITDA $100.90 $155.82 $210.74 65
EV/Revenue $20.40 $56.51 $92.62 49
Asset-Based
NCAV (Graham) $16.42 $22.00 $32.83 52
Growth DCF
Growth DCF $9.42 $42.83 74
Rev-Margin DCF $5.31 $51.36 $103.45 65
Economic Profit
Residual Income $94.51 $139.34 $1,516 63
ROIC Compounder $11.78 $24.39 $38.25 68
Growth Earnings
Growth-Adj P/E $170.74 $243.92 $317.10 66

Widest divergence: Growth Earnings ($243.92) versus Growth DCF ($9.42). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 4.0 as of Jun 23, 2026
P/S ratio 1.28 P/E × margin
EPS (TTM) $9.32 price ÷ EPS = P/E 4.0
Dividend yield 5.3% payout 21.5%
Net margin 31.8% FY2025
Return on equity 40.7% TTM
More key figures
Profitability
Return on assets (EBIT) 6.7% avg 5y
Operating margin 20.9% TTM
Growth
Revenue (TTM) $22.2B TTM
Revenue growth (YoY) +10.2% 3y avg +12.1%
EPS growth (YoY) +59.5%
Balance sheet & cash flow
Free cash flow $2.4B FY2025
Net debt $42.8B FY2025 · ≈ 18.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 55

Profitability 57
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 10
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 66
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Rogers Communications Inc. operates as a communications, sports, and entertainment company in Canada. It operates through Wireless, Cable, and Media segments.

Full company description

Rogers Communications Inc. operates as a communications, sports, and entertainment company in Canada. It operates through Wireless, Cable, and Media segments. The company offers mobile internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and pickup services; satellite-to-mobile service; and wireless solutions under the Rogers, Fido, and chatr brands. It also provides Internet access, Internet protocol-based (IP) television, applications, online viewing, phone, home monitoring, and advanced home WiFi services to consumer and businesses. In addition, the company offers local and network TV; on-demand television; cloud-based digital video recorders; voice-activated remote controls, restart, and integrated apps; linear and time-shifted programming; digital specialty channels; and 4K television programming. Further, it provides residential and small business local telephony services; voicemail, call waiting, and long distance; video and audio programming; voice, data networking, IP, and Ethernet services; private networking, Internet, IP voice, and cloud solutions; optical wave and multi-protocol label switching services; information technology and network technologies; cable access network services; telecommunications technical consulting services; and season games through television, smartphones, tablets, personal computers, and other streaming devices. Additionally, the company owns Toronto Blue Jays and the Rogers Centre event venue; and operates Sportsnet ONE, Sportsnet 360, Sportsnet World, Citytv, OMNI, FX (Canada), FXX (Canada), and HGTV television networks, as well as AM and FM radio stations. It also offers Rogers and the Rogers Red World Elite Mastercard. The company was founded in 1960 and is headquartered in Toronto, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Rogers Communications Inc reported revenue of $21.7B in FY2025 versus $14.7B in FY2021, a compound +10.3%/yr. Reported net income was $6.9B in FY2025, compounding +45.0%/yr from FY2021.

Growth Quality 80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$21.7B
Latest YoY
+5.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.3%
Avg. revenue growth/yr (31Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
≈ +12.6% (approximate, leans on 2025) · in USD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+7.3%
Dividend yield5.3%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 32.8% vs 10Y 17.3%, picking up
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.41.3% (2020) → 23.1% (2025) · falling
Worst earnings drop51% (2023) · in USD
⚠ Final year 2025 sits 294% above its own trend (e.g. a one-off disposal gain), so this rate uses the operating basis instead of reported profit
Revenue +10.3%/yr
FY21 $14.7B
FY22 $15.4B
FY23 $19.3B
FY24 $20.6B
FY25 $21.7B
Net income +45.0%/yr
FY21 $1.6B
FY22 $1.7B
FY23 $849M
FY24 $1.7B
FY25 $6.9B
Character of growth · EPS growth decomposed (2014-2025) +11.2 % p.a.
Revenue per share +4.5 %

of which total revenue +4.9 % · buybacks/dilution −0.4 %

EBIT margin −1.2 %
Tax rate +1.6 %
Residual (interest, one-offs) +6.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Rogers Communications Inc Fair Value". https://www.fairvalue-calculator.com/stock/RCI.US

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Telecom Services · 249 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Below median
Return on equity (TTM) 41% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 32% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 5.3% · Above median
Debt / equity 2.02× · Higher than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 4.0× · Cheaper than 75% of peers
P/B 1.14× · Cheaper than median
P/S (TTM) 0.91× · Pricier than median
P/FCF 8.6× · Pricier than median
EV/EBITDA 5.8× · Cheaper than median
PEG 0.86× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 28
FUTURE51 · sector 16
PAST100 · sector 28
HEALTH0 · sector 89
DIVIDEND100 · sector 74

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥96.11 ¥109.88 +14%
T-Mobile US, Inc TMUS $177.75 $172.67 −3%
Verizon Communications Inc VZ $49.43 $64.43 +30%
AT&T Inc T $26.01 $43.97 +69%
Bharti Airtel Limited BHARTIARTL ₹1,935 ₹941.48 −51%
Comcast Corporation CMCSA $26.49 $95.42 +260%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMX $23.00 $39.79 +73%
Singapore Telecommunications Limited Z77 4.53 SGD 3.03 SGD −33%
Swisscom AG SCMN CHF 627.50 CHF 463.92 −26%

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Frequently asked questions

Is Rogers Communications Inc (RCI) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of $140.44 versus a price of $37.52, about +274% upside (undervalued).
What is the fair value of RCI?
Our model-based fair value for Rogers Communications Inc is $140.44 (as of Aug 29, 2026), built from audited fundamentals. The current price: $37.52.
What is the quality score of RCI?
Rogers Communications Inc has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Rogers Communications Inc (RCI)?
Our model-based price target is the fair value of $140.44 (as of Aug 29, 2026) from 24 valuation models. Cautious scenario $85.54, optimistic scenario $184.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Rogers Communications Inc stock forecast for 2026?
Our models put fair value at $140.44, about +274% upside versus a price of $37.52 (undervalued). Cautious scenario $85.54, optimistic scenario $184.77. The calculation is refreshed regularly with new filings.
What is the revenue of Rogers Communications Inc (RCI)?
Rogers Communications Inc reported trailing-twelve-month revenue of about $22.2B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of RCI?
The net profit margin of Rogers Communications Inc is about 31.7%, meaning it keeps roughly 31.7% of revenue as net income. Based on the latest reported figures.
Does Rogers Communications Inc pay a dividend?
Rogers Communications Inc currently shows a dividend yield of about 5.33% relative to its recent price (as of Aug 29, 2026).
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