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Chemicals · Basic Materials · Fiscal year ends Dec 31
Rogers reported revenue of $811M in the fiscal year ended Dec 2025, down 2.3% from the year before. Operating income was −$45M, an operating margin of −5.6%, and net income was −$62M. Operating cash flow of $101M less capital expenditure of $30M left free cash flow of $71M.
Ranks among the 18 chemicals companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 933 | 971 | 908 | 830 | 811 |
| Cost of revenue | 584 | 650 | 601 | 553 | 554 |
| Gross profit | 349 | 321 | 307 | 277 | 257 |
| Research & development | 29.9 | 35.2 | 35.7 | 34.6 | 28.1 |
| Selling, general & admin | 193 | 219 | 202 | 193 | 177 |
| Operating income | 117 | 144 | 85.3 | 24.9 | −45.0 |
| Net interest incomeBanks | −2.5 | −9.5 | −10.1 | −0.8 | 0.8 |
| Pre-tax income | 126 | 140 | 76.3 | 34.3 | −45.1 |
| Income tax | 18.2 | 23.8 | 19.7 | 8.2 | 16.7 |
| Net income | 108 | 117 | 56.6 | 26.1 | −61.8 |
| Diluted EPS | 5.73 | 6.15 | 3.03 | 1.40 | −3.40 |
| Diluted shares | 18.9 | 19.0 | 18.7 | 18.6 | 18.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 232 | 236 | 132 | 160 | 197 |
| Receivables | 163 | 177 | 162 | 135 | 131 |
| Inventory | 133 | 182 | 154 | 142 | 125 |
| Current assets | 584 | 660 | 527 | 494 | 500 |
| Net PP&E | 327 | 358 | 366 | 365 | 372 |
| Goodwill | 370 | 352 | 360 | 358 | 303 |
| Total assets | 1,599 | 1,646 | 1,517 | 1,481 | 1,430 |
| Payables | 64.7 | 57.3 | 50.3 | 48.1 | 42.9 |
| Current liabilities | 164 | 143 | 116 | 124 | 126 |
| Long-term debt | 190 | 215 | 30.0 | 0.0 | – |
| Total liabilities | 480 | 474 | 258 | 230 | 234 |
| Shareholders' equity | 1,119 | 1,173 | 1,259 | 1,252 | 1,196 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 124 | 130 | 131 | 127 | 101 |
| Capital expenditure | 71.1 | 117 | 57.0 | 56.1 | 30.1 |
| Free cash flow | 53.3 | 12.7 | 74.4 | 71.0 | 71.1 |
| Depreciation & amortisation | 43.3 | 45.9 | 51.1 | 49.4 | 54.3 |
| Stock-based compensation | 17.0 | 11.8 | 14.3 | 15.1 | 10.9 |
| Acquisitions | 168 | 3.6 | 0.0 | 0.0 | – |
| Share buybacks | 0.0 | 25.0 | 0.0 | 19.8 | 52.4 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.1% | −6.5% | −8.6% | −2.3% |
| Operating income growth (YoY) | – | 23.2% | −40.9% | −70.8% | −280.7% |
| EPS growth (YoY) | – | 7.3% | −50.7% | −53.8% | −342.9% |
| Gross margin | 37.4% | 33.1% | 33.8% | 33.4% | 31.7% |
| Operating margin | 12.6% | 14.9% | 9.4% | 3.0% | −5.6% |
| Net margin | 11.6% | 12.0% | 6.2% | 3.1% | −7.6% |
| Return on equityBlank when equity is negative | 9.7% | 9.9% | 4.5% | 2.1% | −5.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.2% | 9.6% | 6.1% | 1.8% | −3.5% |
| Free cash flow margin | 5.7% | 1.3% | 8.2% | 8.6% | 8.8% |
| Cash conversion (CFO ÷ net income) | 1.15x | 1.11x | 2.32x | 4.87x | −1.64x |
| Receivable days | 64 | 67 | 65 | 59 | 59 |
| Inventory days | 83 | 102 | 93 | 94 | 82 |
| Payable days | 40 | 32 | 31 | 32 | 28 |
| Debt ÷ equity | 0.17x | 0.18x | 0.02x | 0.00x | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −42.3 | −20.9 | −102 | −160 | – |
| Current ratio | 3.56x | 4.63x | 4.53x | 4.00x | 3.97x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.