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RCI

Rogers Communications Inc.

RCI

Rogers Communications Inc. • NYSE
$39.12 ▼ -0.09% (-0.04)
Market Cap $21.13 B
52w High $40.26
52w Low $23.18
Dividend Yield 1.43%
P/E 4.42
Volume 269.03K
Outstanding Shares 540.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.348B ▲ $0 ▼ $5.754B ▲ 107.592% ▲ $10.7 ▲ $7.808B ▲
Q2-2025 $5.216B ▲ $1.184B ▲ $157M ▼ 3.01% ▼ $0.29 ▼ $2.052B ▼
Q1-2025 $4.976B ▼ $1.166B ▼ $280M ▼ 5.627% ▼ $0.52 ▼ $2.103B ▼
Q4-2024 $5.481B ▲ $1.172B ▲ $558M ▲ 10.181% ▼ $1.04 ▲ $2.426B ▼
Q3-2024 $5.129B $1.157B $526M 10.255% $0.99 $2.428B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.512B ▼ $89.615B ▲ $65.985B ▲ $16.943B ▲
Q2-2025 $6.963B ▲ $77.185B ▲ $59.318B ▼ $11.22B ▲
Q1-2025 $2.68B ▲ $73.122B ▲ $62.494B ▲ $10.628B ▲
Q4-2024 $898M ▲ $71.411B ▲ $61.008B ▲ $10.403B ▼
Q3-2024 $802M $69.761B $58.495B $11.266B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.131B ▲ $1.085B ▼ $-3.986B ▼ $-1.012B ▼ $-4.029B ▼ $392.746M ▼
Q2-2025 $148M ▼ $1.596B ▲ $-916M ▲ $3.603B ▲ $4.283B ▲ $741M ▲
Q1-2025 $280M ▼ $1.296B ▲ $-989M ▼ $1.475B ▲ $1.782B ▲ $294M ▲
Q4-2024 $558M ▲ $1.135B ▼ $-870M ▲ $-169M ▲ $96M ▼ $53M ▼
Q3-2024 $526M $1.893B $-1.081B $-461M $351M $883M

Five-Year Company Overview

Income Statement

Income Statement Rogers’ income statement shows a business that has grown meaningfully and become more profitable over the last five years, with one soft year in between. Revenue has climbed steadily as the company has added customers and services, especially after its large acquisition in cable and wireless. Profitability has improved too: operating profit and cash‑style earnings have both stepped up, showing that the core business is scaling well. Net income, however, has been a bit choppy. One recent year looks weaker, likely reflecting merger costs, financing costs, or one‑time items, before rebounding afterward. Overall, the picture is of a solid, mature telecom operator with rising sales and generally healthy margins, but with some noise in bottom‑line earnings tied to big strategic moves and financing.

Balance Sheet

Balance Sheet The balance sheet has expanded dramatically, mostly because of acquisitions and heavy network investment. Total assets have grown sharply, but this has been funded largely with debt rather than with new equity. As a result, leverage is high: Rogers now relies heavily on borrowed money, while shareholders’ equity has stayed roughly flat. Cash on hand is relatively modest compared with the size of the debt load, which increases sensitivity to interest rates and refinancing conditions. The key takeaway is that Rogers has built a very large infrastructure base, but it has done so with a balance sheet that carries significant debt and requires careful ongoing management.

Cash Flow

Cash Flow Cash flow from operations is a clear strength. The company consistently generates strong cash inflows from its day‑to‑day business, and those inflows have increased over time as the subscriber base and service revenues have grown. However, telecom is capital‑intensive, and Rogers spends heavily on its networks. Capital spending has risen meaningfully, keeping free cash flow positive but not spectacular relative to the size of the business and its debt. The pattern suggests a company that can comfortably fund its investments from its own operations, but with less room for error given the large ongoing commitment to network upgrades and expansion.

Competitive Edge

Competitive Edge Rogers holds a very strong competitive position as one of Canada’s dominant telecom providers. Its national scale, brand recognition, and deep network coverage create high barriers to entry. The acquisition of Shaw significantly strengthened its presence in Western Canada, expanded its cable and internet footprint, and increased its customer base. On top of that, Rogers has valuable sports and media assets, including major professional teams and premium sports rights. These give it unique content it can bundle with wireless and internet services, adding stickiness and differentiation. The main challenges are intense competition within the “Big Three,” regulatory scrutiny, and periodic customer satisfaction issues that are common in the sector. Overall, though, its position in the Canadian market is entrenched and hard to dislodge.

Innovation and R&D

Innovation and R&D Rogers’ innovation efforts are focused less on lab research and more on large‑scale network and product development. It has pushed aggressively into advanced 5G, including enhanced 5G offerings, and continues to expand its fiber backbone. These investments underpin faster speeds, better reliability, and new services for both consumers and businesses. The company also experiments with new connectivity models such as satellite‑to‑mobile messaging, power‑outage‑resilient home internet, and integrated home platforms like Ignite that combine TV, streaming, and smart‑home services. In the business segment, it is building out Internet of Things, private 5G, and edge solutions. These efforts suggest a strategy aimed at staying at the high end of network quality while layering on differentiated services rather than competing purely on price.

Summary

Rogers today looks like a scaled, mature telecom and media platform that has grown significantly through both organic expansion and acquisitions. Its income statement shows rising revenue and generally improving operating profitability, with some volatility in net income tied to major corporate actions and financing. The trade‑off for that growth is a much more leveraged balance sheet. Debt is substantial, while equity has barely moved, which raises the importance of stable cash flows and disciplined capital allocation. So far, operating cash generation has remained strong and comfortably covers heavy network spending, but the business must keep executing well to support its capital structure. Strategically, Rogers benefits from a powerful competitive moat: national networks, strong brands, bundled offerings, and unique sports and media assets. Its innovation is focused on next‑generation networks and value‑added services rather than pure research, aiming to deepen customer relationships and open new revenue streams. Overall, RCI appears to be a high‑quality, infrastructure‑rich telecom franchise with meaningful strengths in scale and assets, balanced by notable leverage and the ongoing need for large capital investments and careful integration of its expanded footprint.

NEWS

November 28, 2025 · 1:30 PM UTC

RCI Board of Directors Names Reese as Interim President and CEO and Molina as Interim CFO

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November 21, 2025 · 12:45 PM UTC

RCI Acquires 821,000 Shares from ADW Capital Partners, L.P.

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November 20, 2025 · 8:45 AM UTC

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November 20, 2025 · 1:27 AM UTC

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November 19, 2025 · 4:39 PM UTC

The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of November 20, 2025 in RCI Hospitality Holdings, Inc. Lawsuit – RICK

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