ROGRogers Corporation
Is the business good?
The checks split: nothing decisive, though margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ROG?
Rogers Corporation earns −2.7% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 12 points below what the capital costs: growth destroys value
- Operating margin
- −4.1%
Operating margin · Electronic Components median 8.4% · 12 months to Q1 2026
- Share count, year on year
- −3.2%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 3.4%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 8.4% |
| FY2021 | 13% |
| FY2022 | 15% |
| FY2023 | 9.4% |
| FY2024 | 3.0% |
| FY2025 | −5.5% |
Details›
- Gross margin12 months to Q1 2026
- 32%
- Operating margin12 months to Q1 2026
- −4.1%
- Net margin12 months to Q1 2026
- −6.8%
- Free cash flow margin
- 8.5%
- R&D as % of revenue
- 3.4%
- Revenue, trailing twelve months
- $821M
- Free cash flow, trailing twelve months
- $70M
- Net income, trailing twelve months
- −$56M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −2.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Electronic Components
Ranks #21 of 25 by RyuScore