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Rogers Communications

RCI
56
Telecommunications Services · Communication Services
Price
$36.27
-0.08 (-0.22%)
Market Cap
$19.59B
Exchange
New York Stock Exchange
Winston Score
56
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Strong
Cash Flow
Good
Stability
Mixed
Valuation
Good
Dividends
Good

Share count rising — dilution

+6.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 506.0M (2021) → 540.7M (2025)

Winston Score History

The full picture

Rogers Communications is a Canadian company that provides wireless phone service, internet, cable TV, and home phone service to millions of people and businesses across Canada. It owns some of the most recognized media brands in the country, including Sportsnet and a portfolio of radio stations. Rogers is one of only three major national wireless carriers in Canada, giving it significant scale in a market with very limited competition.

Rogers makes most of its money through monthly subscription fees from wireless and internet customers, with additional revenue from its media properties through advertising and sports broadcasting rights. The company operates almost entirely within Canada and generated roughly $20 billion in annual revenue following its major acquisition of Shaw Communications in 2023, which significantly expanded its cable and internet footprint. The biggest risk Rogers faces is its heavy debt load taken on to finance that acquisition, which limits financial flexibility and leaves the company sensitive to rising interest rates.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-565.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

11.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$5.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Rogers Communications is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
22.2%
Thin — 22.2% gross margin
Profit after running costs
Operating Margin
22.2%
Excellent — 22.2% operating margin
Return on the money invested
ROCE
8.6%
Below par — 8.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+8.7%
Steady sales growth (+8.7% YoY)
Profit growth
EPS YoY
+324.4%
Earnings growing fast (+324.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
94%
Modest — 94% of profit becomes cash
Spare cash per sale
FCF Margin
11.9%
Modest free cash flow (11.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
2.60
Heavy debt load (2.60)
Covers its interest
Interest Cover
2.44x
Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
3.0x
Attractive valuation — P/E 3.0

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-11.9
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
4.21%
Healthy income — 4.21% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+1.1%
Dividend flat

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