Rogers Communications Inc (RCIAF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Rogers Communications Inc $84.23, price $31.38, upside +168.4%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 3, 2026.
How to read this chart
60‑month range $23.34 – $50.45 · fair‑value band $37.85 – $123.16 · the $31.38 price screens below the $84.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 3, 2026.
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Rogers Communications Inc. operates as a communications, sports, and entertainment company in Canada. It operates through Wireless, Cable, and Media segments.
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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.
Stock analysis
Rogers Communications Inc (RCIAF) currently trades at $31.38, while our model-based Fair Value estimate is $84.23, implying the stock looks roughly 62.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $170.53 per share, and 21 of the 26 models we run sit above the $31.38 price.
Bear case: the Asset-Based group reads lowest at $15.43, and 5 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $37.85 (bear) to $123.16 (bull), the price of $31.38 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Rogers Communications Inc reported revenue of C$21.7B in FY2025 versus C$14.7B in FY2021, a compound +10.3%/yr. Reported net income was C$6.9B in FY2025, compounding +45.0%/yr from FY2021.
Key figures
Market cap $21.1B · P/E ratio 4.2 · P/S ratio 1.33 · EPS (TTM) $9.32 · Dividend yield 6.4% · Net margin 31.8% · Return on equity 40.7% · Return on assets (EBIT) 6.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at 168%, RCIAF screens cheaper than that median.
Fair Value models
Bear $37.85Fair Value $84.23Bull $123.16
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($5.54 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+12.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
Start year 2020 (pandemic). Over 10 years: +4.9% a year
Revenue growth 31 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +13.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.3%
Dividend (yield on the price)6.4%
Pace: 5 vs 10 years ⓘ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.32.3% vs 17.2%, picking up
Profit margin 2020 to 2025 ⓘ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.23% → 23%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 293% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CAD, Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +10.2% a year for the price and −0.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Rogers Communications Inc with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Telecom Services · 237 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+172.1% · Top 25%
Profitability
Return on equity (TTM)40.7% · Top 25%
Return on assets3.9% · Above median
Net margin (TTM)31.7% · Top 25%
Operating margin (TTM)20.9% · Above median
Growth and dividend
Revenue growth10.2% · Above median
Dividend yield (TTM)6.4% · Top 25%
Balance sheet
Debt / equity2.02× · Highest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)4.2× · Cheapest 25%
P/B1.69× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Rogers Communications Inc (RCIAF) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $84.23 versus a price of $31.38, about +168% upside (undervalued).
What is the fair value of RCIAF?
Our model-based fair value for Rogers Communications Inc is $84.23 (as of Oct 3, 2026), built from audited fundamentals. The current price: $31.38.
What is the quality score of RCIAF?
Rogers Communications Inc has a Quality Score of 42/100. 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 (RCIAF)?
Our model-based price target is the fair value of $84.23 (as of Oct 3, 2026) from 26 valuation models. Cautious scenario $37.85, optimistic scenario $123.16. 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 $84.23, about +168% upside versus a price of $31.38 (undervalued). Cautious scenario $37.85, optimistic scenario $123.16. The calculation is refreshed regularly with new filings.
What is the revenue of Rogers Communications Inc (RCIAF)?
Rogers Communications Inc reported trailing-twelve-month revenue of about C$22.2B (latest available figure, as of Oct 3, 2026).
Does Rogers Communications Inc pay a dividend?
Rogers Communications Inc currently shows a dividend yield of about 6.37% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Rogers Communications Inc (RCIAF)?
For today's price to be fair in a discounted-cash-flow model, Rogers Communications Inc would have to grow free cash flow by +12.5 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.3 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of RCIAF use?
Our models discount Rogers Communications Inc at 8.8 %: a base by market capitalisation (large), damped by beta 0.79, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Rogers Communications Inc that is +12.5 % per year a year over ten years, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Rogers Communications Inc (RCIAF) delivered so far?
Over the past 5 years revenue at Rogers Communications Inc grew +9.3 % a year. The price currently implies +12.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Rogers Communications Inc (RCIAF) growing?
The median revenue growth in the sector is +3.0 % a year. That is the yardstick for the growth priced into Rogers Communications Inc (+12.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Rogers Communications Inc (RCIAF)?
The free-cash-flow yield on the price is 9.72 %: that much free cash flow Rogers Communications Inc produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Rogers Communications Inc (RCIAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rogers Communications Inc it is $84.23 per share (as of Oct 3, 2026), against a price of $31.38. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Rogers Communications Inc stock overvalued or undervalued in 2026?
As of Oct 3, 2026, RCIAF trades below its calculated fair value: price $31.38, fair value $84.23, a gap of about +168% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RCIAF?
No. The price is what the market pays today ($31.38); the fair value is what the company's own numbers justify ($84.23). For Rogers Communications Inc the two are $52.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Rogers Communications Inc worth?
The market values Rogers Communications Inc at about $21.1B (market capitalisation, as of Oct 3, 2026). Per share that is $31.38; our models calculate a fair value of $84.23 per share.
What do the bullish and bearish scenarios say about RCIAF?
Our models span a range for Rogers Communications Inc: cautious scenario $37.85, base $84.23, optimistic $123.16 per share (as of Oct 3, 2026, price $31.38). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RCIAF?
Rogers Communications Inc trades at a price-to-earnings ratio of 4.2 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $84.23 is built from several models across several years. Other multiples: PEG 0.8, P/B 1.7, P/S 1.4, EV/EBITDA 6.8.
What is the PEG ratio of RCIAF?
The PEG ratio of Rogers Communications Inc is 0.85 (P/E divided by earnings growth, as of Oct 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Rogers Communications Inc (RCIAF)?
Balance-sheet figures for Rogers Communications Inc (as of Oct 3, 2026): return on equity 40.7%, debt of 2.02 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is RCIAF from its 52-week high?
Rogers Communications Inc trades at $31.38, about 21% below its 52-week high of $39.91 and at the low of $31.38 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $84.23 is for.
Which stocks are comparable to Rogers Communications Inc?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Rogers Communications Inc stock attractive at the current price?
The data as of Oct 3, 2026: price $31.38, calculated fair value $84.23 (+168%), Quality Score 42/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of RCIAF calculated?
We run Rogers Communications Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $84.23, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Rogers Communications Inc currently trades 63 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Rogers Communications Inc (RCIAF)?
The closing price on Oct 2, 2026 was $31.38. Our model-based fair value is $84.23, about +168% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rogers Communications Inc right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($37.85). The market is more pessimistic than our downside scenario. The model range is unusually wide ($37.85 to $123.16). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Rogers Communications Inc (RCIAF) come from?
Earnings per share at Rogers Communications Inc grew +11.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.5 %, EBIT margin +1.4 %, tax rate +1.6 %, residual (interest, one-offs) +3.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Rogers Communications Inc
How large is the market capitalisation of Rogers Communications Inc (RCIAF)?
The market capitalisation of Rogers Communications Inc is $21.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Rogers Communications Inc (RCIAF)?
The price-to-sales ratio of Rogers Communications Inc is 1.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Rogers Communications Inc (RCIAF)?
Earnings per share at Rogers Communications Inc are $9.32 (price ÷ EPS = P/E 4.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Rogers Communications Inc (RCIAF)?
The dividend yield of Rogers Communications Inc is 6.4% (payout 21.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Rogers Communications Inc (RCIAF)?
The net margin of Rogers Communications Inc is 31.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Rogers Communications Inc (RCIAF)?
The return on equity (ROE) of Rogers Communications Inc is 40.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Rogers Communications Inc (RCIAF)?
On an EBIT basis the return on assets of Rogers Communications Inc is 6.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Rogers Communications Inc (RCIAF)?
The operating margin of Rogers Communications Inc is 20.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rogers Communications Inc (RCIAF)?
Revenue at Rogers Communications Inc is growing +10.2% versus a year earlier (3y avg +12.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Rogers Communications Inc (RCIAF)?
Earnings per share at Rogers Communications Inc are growing +59.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Rogers Communications Inc (RCIAF) carry?
The net debt of Rogers Communications Inc is C$42.8B (fiscal year 2025, ≈ 18.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 3, 2026