Financials Rogers Communications Inc.

Equities

RCI.B

CA7751092007

Wireless Telecommunications Services

Market Closed - Toronto S.E. 16:00:00 2024-07-15 EDT 5-day change 1st Jan Change
51.24 CAD +0.75% Intraday chart for Rogers Communications Inc. +2.05% -17.39%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 33,009 30,171 30,574 32,178 32,895 27,281 - -
Enterprise Value (EV) 1 52,445 48,944 52,704 68,461 74,700 69,424 67,081 63,968
P/E ratio 16.2 x 18.9 x 19.6 x 19.1 x 38.3 x 14.1 x 11.4 x 10 x
Yield 3.1% 3.37% 3.32% 3.16% 3.22% 3.93% 3.96% 4.01%
Capitalization / Revenue 2.19 x 2.17 x 2.09 x 2.09 x 1.7 x 1.32 x 1.28 x 1.25 x
EV / Revenue 3.48 x 3.52 x 3.6 x 4.45 x 3.87 x 3.36 x 3.15 x 2.93 x
EV / EBITDA 8.44 x 8.36 x 8.95 x 10.7 x 8.71 x 7.21 x 6.66 x 6.14 x
EV / FCF 23 x 20.7 x 38.4 x 38.6 x 30.9 x 23.5 x 20.7 x 18.2 x
FCF Yield 4.34% 4.83% 2.61% 2.59% 3.23% 4.25% 4.83% 5.49%
Price to Book 3.46 x 3.13 x 2.89 x 3.17 x 3.15 x 2.28 x 1.98 x 1.71 x
Nbr of stocks (in thousands) 510,601 504,925 504,925 504,925 530,021 532,816 - -
Reference price 2 64.48 59.26 60.23 63.37 62.03 50.86 50.86 50.86
Announcement Date 20-01-22 21-01-28 22-01-27 23-02-02 24-02-01 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 15,073 13,916 14,655 15,396 19,308 20,686 21,276 21,819
EBITDA 1 6,212 5,857 5,887 6,393 8,581 9,630 10,074 10,411
EBIT 1 3,724 3,239 3,302 3,817 4,460 5,073 5,552 5,831
Operating Margin 24.71% 23.28% 22.53% 24.79% 23.1% 24.53% 26.1% 26.72%
Earnings before Tax (EBT) 1 2,755 2,172 2,127 2,289 1,366 2,503 3,256 3,649
Net income 1 2,043 1,592 1,558 1,680 849 1,850 2,415 2,711
Net margin 13.55% 11.44% 10.63% 10.91% 4.4% 8.94% 11.35% 12.43%
EPS 2 3.970 3.130 3.070 3.320 1.620 3.600 4.474 5.088
Free Cash Flow 1 2,278 2,366 1,373 1,773 2,414 2,954 3,243 3,515
FCF margin 15.11% 17% 9.37% 11.52% 12.5% 14.28% 15.24% 16.11%
FCF Conversion (EBITDA) 36.67% 40.4% 23.32% 27.73% 28.13% 30.67% 32.19% 33.76%
FCF Conversion (Net income) 111.5% 148.62% 88.13% 105.54% 284.33% 159.66% 134.27% 129.64%
Dividend per Share 2 2.000 2.000 2.000 2.000 2.000 2.000 2.014 2.042
Announcement Date 20-01-22 21-01-28 22-01-27 23-02-02 24-02-01 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 3,919 3,619 3,868 3,743 4,166 3,835 5,046 5,092 5,335 4,901 5,109 5,197 5,441 5,073 5,362
EBITDA 1 1,522 1,539 1,592 1,733 1,679 1,651 2,190 2,411 2,329 2,214 2,361 2,541 2,495 2,404 2,473
EBIT 1 864 893 954 1,089 1,031 1,020 1,032 1,251 1,157 1,065 1,146 1,397 1,315 - -
Operating Margin 22.05% 24.68% 24.66% 29.09% 24.75% 26.6% 20.45% 24.57% 21.69% 21.73% 22.42% 26.88% 24.17% - -
Earnings before Tax (EBT) 1 557 545 544 504 696 696 136 12 522 335 641.8 796.9 780.3 676 737
Net income 1 405 392 409 371 508 511 109 -99 328 256 428.8 585.3 550.3 500 545
Net margin 10.33% 10.83% 10.57% 9.91% 12.19% 13.32% 2.16% -1.94% 6.15% 5.22% 8.39% 11.26% 10.11% 9.86% 10.16%
EPS 2 0.8000 0.7700 0.7600 0.7100 1.000 1.000 0.2000 -0.1900 0.6200 0.4600 0.9875 1.153 1.095 0.9907 1.030
Dividend per Share 2 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000
Announcement Date 22-01-27 22-04-20 22-07-27 22-11-09 23-02-02 23-04-26 23-07-26 23-11-09 24-02-01 24-04-24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 19,436 18,773 22,130 36,283 41,805 42,143 39,799 36,686
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.129 x 3.205 x 3.759 x 5.675 x 4.872 x 4.376 x 3.951 x 3.524 x
Free Cash Flow 1 2,278 2,366 1,373 1,773 2,414 2,954 3,243 3,515
ROE (net income / shareholders' equity) 23.3% 16.8% 17.9% 18.6% 23.4% 25% 24.3% 23.6%
ROA (Net income/ Total Assets) 5.8% 4.2% 4.46% 3.92% 3.85% 3.56% 4.01% 4.51%
Assets 1 35,197 37,936 34,918 42,819 22,043 51,914 60,184 60,074
Book Value Per Share 2 18.60 19.00 20.90 20.00 19.70 22.30 25.70 29.70
Cash Flow per Share 2 8.820 8.540 8.240 8.880 9.850 11.80 12.70 -
Capex 1 2,807 2,312 2,788 3,075 3,934 4,034 3,954 3,896
Capex / Sales 18.62% 16.61% 19.02% 19.97% 20.37% 19.5% 18.58% 17.85%
Announcement Date 20-01-22 21-01-28 22-01-27 23-02-02 24-02-01 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
50.86 CAD
Average target price
69.91 CAD
Spread / Average Target
+37.46%
Consensus
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