DB:RG6

Stock Analysis Report

Executive Summary

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide.

Rewards

Trading at 13.7% below its fair value

Earnings are forecast to grow 8.71% per year

Earnings grew by 43.2% over the past year

Risk Analysis

No risks detected for RG6 from our risk checks.


Snowflake Analysis

Solid track record with excellent balance sheet.


Similar Companies

Share Price & News

How has Rogers's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RG6 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.8%

RG6

9.4%

DE Electronic

1.7%

DE Market


1 Year Return

-13.3%

RG6

13.9%

DE Electronic

15.0%

DE Market

Return vs Industry: RG6 underperformed the German Electronic industry which returned 13.9% over the past year.

Return vs Market: RG6 underperformed the German Market which returned 15% over the past year.


Shareholder returns

RG6IndustryMarket
7 Day-2.8%9.4%1.7%
30 Day-14.2%8.4%0.8%
90 Day-9.6%7.4%3.7%
1 Year-13.3%-13.3%16.4%13.9%18.5%15.0%
3 Year39.3%39.3%55.2%50.0%17.1%6.9%
5 Year50.4%50.4%122.9%106.8%24.3%7.3%

Price Volatility Vs. Market

How volatile is Rogers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Rogers undervalued compared to its fair value and its price relative to the market?

13.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RG6 (€103) is trading below our estimate of fair value (€119.37)

Significantly Below Fair Value: RG6 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: RG6 is good value based on its PE Ratio (21x) compared to the Electronic industry average (33.7x).

PE vs Market: RG6 is good value based on its PE Ratio (21x) compared to the German market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: RG6 is poor value based on its PEG Ratio (2.4x)


Price to Book Ratio

PB vs Industry: RG6 is overvalued based on its PB Ratio (2.3x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

How is Rogers forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

8.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RG6's forecast earnings growth (8.7% per year) is above the savings rate (-0.4%).

Earnings vs Market: RG6's earnings (8.7% per year) are forecast to grow slower than the German market (13.3% per year).

High Growth Earnings: RG6's earnings are forecast to grow, but not significantly.

Revenue vs Market: RG6's revenue (4.5% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: RG6's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RG6's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Rogers performed over the past 5 years?

15.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RG6 has high quality earnings.

Growing Profit Margin: RG6's current net profit margins (10.8%) are higher than last year (8.1%).


Past Earnings Growth Analysis

Earnings Trend: RG6's earnings have grown by 15.7% per year over the past 5 years.

Accelerating Growth: RG6's earnings growth over the past year (43.2%) exceeds its 5-year average (15.7% per year).

Earnings vs Industry: RG6 earnings growth over the past year (43.2%) exceeded the Electronic industry -3.9%.


Return on Equity

High ROE: RG6's Return on Equity (11%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Rogers's financial position?


Financial Position Analysis

Short Term Liabilities: RG6's short term assets ($458.5M) exceed its short term liabilities ($105.2M).

Long Term Liabilities: RG6's short term assets ($458.5M) exceed its long term liabilities ($229.9M).


Debt to Equity History and Analysis

Debt Level: RG6's debt to equity ratio (14.4%) is considered satisfactory.

Reducing Debt: RG6's debt to equity ratio has increased from 10.9% to 14.4% over the past 5 years.

Debt Coverage: RG6's debt is well covered by operating cash flow (112.9%).

Interest Coverage: RG6's interest payments on its debt are well covered by EBIT (17.7x coverage).


Balance Sheet

Inventory Level: RG6 has a high level of physical assets or inventory.

Debt Coverage by Assets: RG6's debt is covered by short term assets (assets are 3.5x debt).


Next Steps

Dividend

What is Rogers's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.3%markettop25%3.6%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate RG6's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate RG6's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if RG6's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if RG6's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of RG6's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Bruce Hoechner (59yo)

8.3yrs

Tenure

US$3,673,711

Compensation

Mr. Bruce D. Hoechner has been the Chief Executive Officer and President at Rogers Corporation (also know as: Rogers Advanced Circuit Materials Division ) since October 03, 2011. Mr. Hoechner served as Vic ...


CEO Compensation Analysis

Compensation vs Market: Bruce's total compensation ($USD3.67M) is above average for companies of similar size in the German market ($USD1.49M).

Compensation vs Earnings: Bruce's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Bruce Hoechner
President8.3yrsUS$3.67m0.53% $10.3m
Michael Ludwig
Senior VP1.4yrsUS$1.31m0.0067% $130.3k
Mark Weaver
Principal Accounting Officer & Corporate Controller1.9yrsUS$377.49k0.0056% $108.8k
Robert Daigle
Senior VP & CTO11.1yrsUS$1.16m0.080% $1.6m
Helen Zhang
Senior VP3.1yrsUS$1.06mno data
Marc Beulque
Vice President of Global Operations4.1yrsno data0.012% $233.6k
Stephen Haymore
Director of Investor Relations0yrsno datano data
Jay Knoll
Senior VP of Corporate Development5.3yrsUS$1.09m0.047% $917.6k
Benjamin Buckley
VP of EH&S and Chief Human Resources Officer1.1yrsno datano data
Gary Glandon
Senior Vice President7.6yrsUS$722.30k0.057% $1.1m

4.1yrs

Average Tenure

56yo

Average Age

Experienced Management: RG6's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bruce Hoechner
President8.3yrsUS$3.67m0.53% $10.3m
Peter Wallace
Independent Director9.7yrsUS$220.00k0.081% $1.6m
Michael Barry
Lead Director2.8yrsUS$234.00k0.082% $1.6m
Keith Barnes
Independent Director4.3yrsUS$223.75k0.019% $377.9k
Jeffrey Owens
Independent Director2.5yrsUS$216.25k0.0046% $89.3k
Helene Simonet-Lauriks
Independent Director5.3yrsUS$230.00k0.030% $577.4k
Ganesh Moorthy
Independent Director6.6yrsUS$217.50k0.034% $661.5k
Carol Jensen
Independent Director14yrsUS$216.25k0.054% $1.1m

6.0yrs

Average Tenure

64.5yo

Average Age

Experienced Board: RG6's board of directors are considered experienced (6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Rogers Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Rogers Corporation
  • Ticker: RG6
  • Exchange: DB
  • Founded: 1832
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: US$2.114b
  • Listing Market Cap: US$1.950b
  • Shares outstanding: 18.57m
  • Website: https://www.rogerscorp.com

Number of Employees


Location

  • Rogers Corporation
  • 2225 West Chandler Boulevard
  • Chandler
  • Arizona
  • 85224
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ROGNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968
RG6DB (Deutsche Boerse AG)YesCommon StockDEEURJan 1968

Biography

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names. The EMS segment provides engineered material solutions, including polyurethane and silicone materials used in critical cushioning, sealing, and vibration management applications for the portable electronics, automotive, aerospace, rail, footwear, and printing end markets; customized silicones used in flex heater and semiconductor thermal applications; and polytetrafluoroethylene and ultra-high molecular weight polyethylene materials used in wire and cable, pressure-sensitive tapes, and automotive applications. It provides its products under the PORON, BISCO, DeWAL, ARLON, DSP, Griswold, eSORBA, XRD, HeatSORB, and R/bak names. The PES segment offers ceramic substrate materials for power module applications, laminated busbars for power inverter and high power interconnect applications, and micro-channel coolers. It sells its ceramic substrate materials and micro-channel coolers under the curamik name; and busbars under the ROLINX name. The Other segment provides elastomer components for applications in the ground transportation, office equipment, consumer, and other markets; elastomer floats for level sensing in fuel tanks, motors, and storage tanks; and inverters for portable communications and automotive markets. It offers its elastomer components under the NITROPHYL and ENDUR names. The company was founded in 1832 and is headquartered in Chandler, Arizona. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 21:58
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.