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Canadian wireless, cable and media company that also owns major sports assets including the Toronto Blue Jays.
Canadian wireless, cable and media company that also owns major sports assets including the Toronto Blue Jays.
Charges monthly fees for wireless and for cable internet and TV, with wireless the profit core and Sportsnet and the Toronto Blue Jays earning from advertising, subscriptions and ticketing. Buying Shaw in 2023 extended its cable and wireless reach to western Canada. The Rogers family controls the votes through the Rogers Control Trust, which holds the Class A shares.
Moat: narrow (scale, distribution, installed base). One of three national wireless carriers in a licence-constrained oligopoly market.
Headquarters: Toronto, Canada · Founded: 1960 · Employees: 25,000
Size Rogers Communications (RCI-B.TO) is a Canada Communication Services company (Wireless Telecommunications) with a market value of $18.3B, the 46th largest of 420 Canada companies the cockpit tracks. Shares closed at C$47.12 on 6 Nov 2026.
Performance Over six months the shares fell 5.6%, against -1.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 8.0% over the last twelve months (peer median +4.7%); the operating margin is 22.9% (peer median 15.6%).
Valuation It trades at 10.7× forward earnings against a peer median of 14.5× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.0 points below its cost of capital (5.5% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$22.7B | C$21.7B | C$20.6B | C$19.3B | C$15.4B |
| Revenue growth | — | +5% | +7% | +25% | — |
| Gross profit | C$5.19B | C$5.02B | C$5.00B | C$4.46B | C$3.82B |
| EBITDA | C$10.2B | C$9.91B | C$9.68B | C$8.65B | C$6.45B |
| Net income | C$897M | C$6.89B | C$1.73B | C$849M | C$1.68B |
| Free cash flow | C$3.31B | C$2.25B | C$1.59B | C$1.29B | C$1.42B |
| Capital expenditure | C$3.17B | C$3.81B | C$4.11B | C$4.01B | C$3.12B |
| Total debt | C$46.6B | C$44.2B | C$47.6B | C$45.2B | C$36.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Rogers Communications RCI-B.TO | $18.3B | -6% | +8% | 23% | 10.7× | 1.1% |
| BCE BCE.TO | $20.3B | -9% | +2% | 22% | 12.3× | -0.9% |
| TELUS T.TO | $14.5B | -27% | -1% | 15% | 17.5× | 2.6% |
| Quebecor QBR-B.TO | $12.3B | +36% | +3% | 27% | 16.8× | 0.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RCI-B.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.7% | -0.5% | 4th highest of 21 |
| 6-month return | -5.6% | -1.5% | 10th lowest of 21 |
| Distance from 52-week high | -16.3% | -21.0% | 9th highest of 21 |
| Revenue growth (TTM) | +8.0% | +4.7% | 8th highest of 21 |
| Operating margin | 22.9% | 15.6% | 7th highest of 21 |
| Forward P/E | 10.7× | 14.5× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 1.1% | 3.6% | 9th least demanding of 20 |
| Growth delivered (Del g) | +9.3% | +2.7% | 3rd highest of 20 |
| Hurdle (Req g minus delivered) | -8.2 pp | -3.0 pp | 6th least demanding of 20 |
| ROIC minus cost of capital | -0.0 pp | +2.0 pp | 9th lowest of 21 |
| EV / EBITDA | 7.4× | 7.1× | 8th most expensive of 19 |
| Net debt / EBITDA | 4.3× | 2.0× | 2nd most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Rogers Communications RCI-B.TO | Canada | $18.3B | -6% | +8% | 23% | 10.7× | 1.1% | +9.3% |
| Telefonica Brasil SA Sponsored ADR VIV | United States | $18.2B | -27% | +16% | 16% | 10.7× | -3.6% | +5.0% |
| Vodafone Idea IDEA.NS | India | $14.6B | +14% | +3% | -6% | n/a | 29.6% | +1.3% |
| TELUS T.TO | Canada | $14.5B | -27% | -1% | 15% | 17.5× | 2.6% | +5.8% |
| Millicom International Cellular TIGO | United States | $13.9B | +3% | +29% | 23% | 22.9× | 3.6% | +6.9% |
| Telecom Italia TIT.MI | Italy | $13.6B | -20% | 0% | 11% | 31.8× | 5.3% | -2.8% |
| Airtel Africa AAF.L | United Kingdom | $13.5B | -33% | +27% | 34% | 14.6× | -1.2% | +10.0% |
| Far Eastone Telecommunications 4904.TW | Taiwan | $12.2B | +17% | +10% | 15% | 26.1× | 3.8% | +6.8% |
| SKTelecom 017670.KS | South Korea | $12.1B | -18% | +2% | 10% | 12.3× | -9.8% | +1.2% |
| Globalstar GSAT | United States | $10.9B | +3% | +8% | 5% | n/a | n/a | n/a |
| PT Telkom Indonesia (Persero) Tbk Sponsored ADR TLK | United States | $10.3B | -35% | -3% | 24% | 9.5× | -16.1% | -1.1% |
| Vodafone Group Public VOD.L | United Kingdom | $36.3B | +4% | +11% | 10% | 12.1× | 4.2% | -2.2% |
| Bharti Hexacom BHARTIHEXA.NS | India | $8.84B | +10% | +8% | 29% | 36.6× | 33.4% | +15.2% |
| TIM S.A. Sponsored ADR TIMB | United States | $8.61B | -24% | +14% | 25% | 9.4× | -12.4% | +7.3% |
| Telstra TLS.AX | Australia | $39.0B | -4% | -1% | 16% | 24.2× | 5.6% | +1.2% |
| Orange ORA.PA | France | $45.0B | -19% | +3% | 12% | 9.9× | 4.9% | -0.9% |
| Elisa ELISA.HE | Finland | $6.11B | -17% | 0% | 20% | 14.3× | -2.7% | +3.6% |
| TPG Telecom TPG.AX | Australia | $5.58B | +1% | -5% | 8% | 34.8× | 8.1% | +3.0% |
| Orange Polska OPL.WA | Poland | $5.53B | +7% | +5% | 9% | 19.4× | 13.2% | +2.7% |
| Kddi 9433.T | Japan | $66.4B | +10% | +4% | 18% | 14.2× | -1.4% | +2.7% |
| VEON Ltd. Sponsored ADR VEON | United States | $4.95B | +57% | +15% | 23% | 11.2× | -4.8% | -9.1% |