Business Summary
Rogers Corporation develops, manufactures, and distributes specialty material-based products worldwide. The company operates through Printed Circuit Materials (PCM), High Performance Foams (HPF), Power Electronics Solutions (PES), and the Other reportable segments. Its PCM segment offers printed circuit board laminate products for high frequency, high performance applications to printed circuit board fabricators under the RO3000, RO4000, RT/duroid, ULTRALAM, RO2800, LoPro, COOLSPAN, and TMM trade names; and high frequency circuit materials. The companys HPF segment offers polyurethane and silicone foam, as well as solid products manufactured in roll stock, sheet, and molded formats to converters, fabricators, distributors, and original equipment manufacturers (OEMs) for use in general industrial applications, portable electronics, consumer goods, transportation, construction, printing applications, and other markets. This segment provides its products under the PORON, R/bak, XRD, BISCO, and eSORBA trade names. Its PES segment provides curamik ceramic substrates that are used in the design of intelligent power management devices, such as insulated gate bipolar transistor modules, which enable a range of products comprising industrial motor drives, wind and solar converters, and electric and hybrid electric vehicle drive systems. This segment also offers RO-LINX products used in high power electrical inverter and converter systems for use in mass transit, clean technology applications, and variable frequency drives for high to mid power applications. The companys Other segment provides NITROPHYL floats for level sensing in fuel tanks, motors, and storage tanks; and ENDUR elastomer rollers and belts for document handling in copiers, printers, mail sorting machines, and automated teller machines. This segment also sells inverters primarily to OEMs and fabricators. Rogers Corporation was founded in 1832 and is headquartered in Rogers, Connecticut.
Valuation Measures
|
Market Cap |
972.00M |
|
Enterprise Value |
1.00B |
|
Trailing P/E |
18.03 |
|
Price/Sales (ttm) |
1.52 |
|
Price/Book (mrq) |
1.62 |
|
Enterprise Value/Revenue (ttm) |
1.57 |
|
Enterprise Value/EBITDA (ttm) |
7.73 |
Share Statistics
|
Avg Vol (3 month) |
172,345 |
|
Avg Vol (10 day) |
125,812 |
|
Shares Outstanding |
18.66M |
|
Float |
18.36M |
|
% Held by Insiders1 |
1.12% |
|
% Held by Institutions1 |
92.10% |
|
Shares Short (as of Nov 14, 2014) |
727.93K |
|
Return on Assets (ttm) |
6.91% |
|
Return on Equity (ttm) |
9.12% |
|
Fiscal Year Ends |
Dec-15 |
|
Most Recent Quarter (mrq) |
Jun-15 |
Estimates
|
Estimates |
Current Year |
Next Year |
|
Dec-15 |
Dec-15 |
| Earnings Est |
3.18 |
4.00 |
| Revenue Est |
674.40M |
728.40M |
Key Executives
|
0 |
Mr. Bruce D. Hoechner , 55 |
|
1 |
Chief Exec. Officer, Pres and Director |
|
2 |
Mr. David Mathieson , 60 |
|
3 |
Chief Financial Officer and VP of Fin. |
|
4 |
Mr. Robert C. Daigle , 52 |
|
5 |
Chief Technology Officer and Sr. VP |
|
6 |
Ms. Helen Zhang , 51 |
|
7 |
VP of Power Electronics Solutions Division and Pres of Rogers Asia |
|
8 |
Mr. Jeffrey M. Grudzien , 53 |
|
9 |
VP of Printed Circuit Materials Division |
Income statement (Annual)
|
Period Ending |
29.09.2012 |
28.09.2013 |
27.09.2014 |
| Total Revenue |
498,761 |
537,482 |
610,911 |
| Cost of Revenue |
340,015 |
349,782 |
376,972 |
| Gross Profit |
158,746 |
187,700 |
233,939 |
| Operating Expenses |
19,311 |
21,646 |
22,878 |
| Research Development |
99,689 |
106,398 |
125,244 |
| Selling General and Administrative |
14,082 |
10,376 |
5,390 |
| Non Recurring |
- |
- |
- |
| Others |
0 |
0 |
0 |
| Total Operating Expenses |
- |
- |
- |
| Operating Income or Loss |
25,664 |
49,280 |
80,427 |
| Income from Continuing Operations |
|
|
|
| Total Other Income/Expenses Net |
-3,453 |
-1,240 |
-1,194 |
| Earnings Before Interest And Taxes |
22,650 |
48,885 |
80,410 |
| Interest Expense |
- |
- |
- |
| Income Before Tax |
22,650 |
48,885 |
80,410 |
| Income Tax Expense |
-46,484 |
11,226 |
27,527 |
| Minority Interest |
- |
- |
- |
| Net Income From Continuing Ops |
69,134 |
37,659 |
52,883 |
| Non-recurring Events |
|
|
|
| Discontinued Operations |
-449 |
102 |
- |
| Extraordinary Items |
- |
- |
- |
| Effect Of Accounting Changes |
- |
- |
- |
| Other Items |
- |
- |
- |
| Net Income |
68,685 |
37,761 |
52,883 |
| Preferred Stock And Other Adjustments |
- |
- |
- |
| Net Income Applicable To Common Shares |
68,685 |
37,761 |
52,883 |
Income statement (Quarterly)
|
Period Ending |
27.09.2014 |
27.12.2014 |
28.03.2015 |
27.06.2015 |
| Total Revenue |
163,052 |
147,724 |
165,051 |
163,098 |
| Cost of Revenue |
98,505 |
89,389 |
102,696 |
102,509 |
| Gross Profit |
64,547 |
58,335 |
62,355 |
60,589 |
| Operating Expenses |
|
|
|
|
| Research Development |
5,976 |
5,619 |
6,108 |
7,053 |
| Selling General and Administrative |
30,182 |
32,965 |
36,147 |
33,026 |
| Non Recurring |
- |
5,390 |
- |
- |
| Others |
- |
- |
- |
- |
| Total Operating Expenses |
- |
- |
- |
- |
| Operating Income or Loss |
28,389 |
14,361 |
20,100 |
20,510 |
| Income from Continuing Operations |
|
|
|
|
| Total Other Income/Expenses Net |
-106 |
180 |
-129 |
-517 |
| Earnings Before Interest And Taxes |
28,537 |
14,893 |
19,884 |
19,081 |
| Interest Expense |
- |
- |
- |
- |
| Income Before Tax |
28,537 |
14,893 |
19,884 |
19,081 |
| Income Tax Expense |
8,149 |
7,880 |
6,257 |
5,541 |
| Minority Interest |
- |
- |
- |
- |
| Net Income From Continuing Ops |
18,349 |
7,013 |
14,546 |
13,932 |
| Non-recurring Events |
|
|
|
|
| Discontinued Operations |
- |
- |
- |
- |
| Extraordinary Items |
- |
- |
- |
- |
| Effect Of Accounting Changes |
- |
- |
- |
- |
| Other Items |
- |
- |
- |
- |
| Net Income |
20,388 |
7,013 |
13,627 |
13,540 |
| Preferred Stock And Other Adjustments |
- |
- |
- |
- |
| Net Income Applicable To Common Shares |
20,388 |
7,013 |
13,627 |
13,540 |
Peer Comparison
|
|
AAPL |
BBRY |
GOOG |
HPQ |
Industry |
| Market Cap |
972.00M |
N/A |
N/A |
348.26M |
943.14M |
| Employees |
2,800 |
453,001 |
111,031 |
461 |
600 |
| Qtrly Rev Growth (yoy) |
6.0% |
N/A |
N/A |
-23.0% |
7.0% |
| Revenue (ttm) |
638.92M |
4.63B1 |
2.24B1 |
151.10M |
638.92M |
| Gross Margin (ttm) |
39.0% |
N/A |
N/A |
29.0% |
26.0% |
| EBITDA (ttm) |
129.66M |
N/A |
N/A |
23.31M |
38.81M |
| Operating Margin (ttm) |
16.0% |
N/A |
N/A |
13.0% |
4.0% |
| Net Income (ttm) |
54.57M |
327.00M1 |
149.00M1 |
16.60M |
N/A |
| EPS (ttm) |
2.89 |
N/A |
N/A |
0.80 |
0.33 |
| P/E (ttm) |
18.03 |
N/A |
N/A |
21.43 |
14.07 |
| PEG (5 yr expected) |
1.09 |
N/A |
N/A |
0.98 |
0.82 |
| P/S (ttm) |
1.52 |
N/A |
N/A |
2.25 |
0.95 |
Upcoming Events
|
Date |
Event |
| Oct 26 - Oct 30, 2015 (Est.) |
Earnings announcement |
Recent Events
|
Date |
Event |
| 8/6/2015 |
ROGERS CORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits |
| 8/3/2015 |
ROGERS CORP Files SEC form 8-K/A, Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits |
| 7/30/2015 |
ROGERS CORP Files SEC form 10-Q, Quarterly Report |
| 7/29/2015 |
ROGERS CORP Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits |
| 7/23/2015 |
ROGERS CORP Files SEC form 8-K, Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits |
| 7/9/2015 |
ROGERS CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits |
| 6/24/2015 |
ROGERS CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation |
| 5/14/2015 |
ROGERS CORP Files SEC form 8-K, Submission of Matters to a Vote of Security Holders |
Major Direct Holders
|
Major Direct Holders |
Shares |
Reported |
| HOECHNER BRUCE D. |
58,892 |
Aug-15 |
| DAIGLE ROBERT C |
32,022 |
Jul-15 |
| PAUL ROBERT G |
28,954 |
May-15 |
| HOWEY GREGORY B |
27,314 |
Feb-15 |
| LOUGHRAN DENNIS M |
21,491 |
May-14 |
Top Institutional Holders
|
Top Institutional Holders |
Shares |
% Out |
Value* |
Reported |
| Neuberger Berman Group, LLC |
1,700,549 |
9.13 |
112,474,309 |
Jun-15 |
| Wellington Management Company, LLP |
1,515,830 |
8.14 |
100,256,994 |
Jun-15 |
| Vanguard Group, Inc. (The) |
1,332,070 |
7.15 |
88,103,108 |
Jun-15 |
| BlackRock Fund Advisors |
1,069,735 |
5.74 |
70,752,271 |
Jun-15 |
| Daruma Capital Management LLC |
918,849 |
4.93 |
60,772,671 |
Jun-15 |
| Columbia Wanger Asset Management, L.P. |
790,218 |
4.24 |
52,265,017 |
Jun-15 |
| Dimensional Fund Advisors LP |
710,668 |
3.82 |
47,003,580 |
Jun-15 |
| BlackRock Institutional Trust Company, N.A. |
521,213 |
2.80 |
34,473,027 |
Jun-15 |
| Northern Trust Corporation |
510,310 |
2.74 |
33,751,902 |
Jun-15 |
| Ameriprise Financial, Inc. |
501,565 |
2.69 |
33,173,508 |
Jun-15 |
Balance sheet (Annual)
|
Period Ending |
29.09.2012 |
28.09.2013 |
27.09.2014 |
| Cash And Cash Equivalents |
115,813 |
191,884 |
237,375 |
| Short Term Investments |
- |
- |
- |
| Net Receivables |
103,726 |
106,052 |
114,419 |
| Inventory |
73,178 |
66,889 |
68,628 |
| Other Current Assets |
14,219 |
12,882 |
11,632 |
| Total Current Assets |
306,936 |
377,707 |
432,054 |
| Long Term Investments |
66,238 |
68,478 |
63,741 |
| Property Plant and Equipment |
149,017 |
146,931 |
150,420 |
| Goodwill |
105,041 |
108,671 |
98,227 |
| Intangible Assets |
53,288 |
49,171 |
38,340 |
| Accumulated Amortization |
- |
- |
- |
| Other Assets |
8,065 |
10,722 |
7,482 |
| Deferred Long Term Asset Charges |
71,439 |
44,854 |
44,853 |
|
|
|
|
| Total Assets |
760,024 |
806,534 |
835,117 |
|
|
|
|
| Liabilities |
|
|
|
| Current Liabilities |
|
|
|
| Accounts Payable |
54,384 |
64,149 |
77,871 |
| Short/Current Long Term Debt |
21,923 |
18,349 |
35,747 |
| Other Current Liabilities |
8,198 |
7,542 |
6,827 |
| Total Current Liabilities |
84,505 |
90,040 |
120,445 |
| Long Term Debt |
84,442 |
67,170 |
31,042 |
| Other Liabilities |
139,380 |
77,720 |
87,020 |
| Deferred Long Term Liability Charges |
17,545 |
16,077 |
14,647 |
| Minority Interest |
- |
- |
- |
| Negative Goodwill |
- |
- |
- |
|
|
|
|
| Total Liabilities |
325,872 |
251,007 |
253,154 |
|
|
|
|
| Stockholders' Equity |
|
|
|
| Misc Stocks Options Warrants |
- |
- |
- |
| Redeemable Preferred Stock |
- |
- |
- |
| Preferred Stock |
- |
- |
- |
| Common Stock |
16,904 |
17,855 |
18,404 |
| Retained Earnings |
400,784 |
438,545 |
491,428 |
| Treasury Stock |
- |
- |
- |
| Capital Surplus |
74,272 |
110,577 |
137,225 |
| Other Stockholder Equity |
-57,808 |
-11,450 |
-65,094 |
| Total Stockholder Equity |
434,152 |
555,527 |
581,963 |
|
|
|
|
| Net Tangible Assets |
275,823 |
397,685 |
445,396 |
Balance sheet (Quarterly)
|
Period Ending |
27.09.2014 |
27.12.2014 |
28.03.2015 |
27.06.2015 |
| Cash And Cash Equivalents |
227,973 |
237,375 |
199,858 |
209,762 |
| Short Term Investments |
- |
- |
- |
- |
| Net Receivables |
132,155 |
114,419 |
137,335 |
129,371 |
| Inventory |
65,003 |
68,628 |
82,239 |
87,032 |
| Other Current Assets |
12,936 |
11,632 |
15,734 |
14,971 |
| Total Current Assets |
438,067 |
432,054 |
435,166 |
441,136 |
| Long Term Investments |
70,168 |
63,741 |
63,243 |
63,414 |
| Property Plant and Equipment |
146,596 |
150,420 |
179,630 |
181,531 |
| Goodwill |
101,676 |
98,227 |
175,009 |
178,617 |
| Intangible Assets |
41,230 |
38,340 |
82,171 |
80,566 |
| Accumulated Amortization |
- |
- |
- |
- |
| Other Assets |
11,217 |
7,482 |
8,925 |
6,667 |
| Deferred Long Term Asset Charges |
41,940 |
44,853 |
40,918 |
15,799 |
|
|
|
|
|
| Total Assets |
850,894 |
835,117 |
985,062 |
967,730 |
|
|
|
|
|
| Liabilities |
|
|
|
|
| Current Liabilities |
|
|
|
|
| Accounts Payable |
85,492 |
77,871 |
88,571 |
77,453 |
| Short/Current Long Term Debt |
28,277 |
35,747 |
43,162 |
3,440 |
| Other Current Liabilities |
7,542 |
6,827 |
6,827 |
6,827 |
| Total Current Liabilities |
121,311 |
120,445 |
138,560 |
87,720 |
| Long Term Debt |
43,856 |
31,042 |
142,785 |
182,694 |
| Other Liabilities |
73,748 |
87,020 |
92,921 |
87,372 |
| Deferred Long Term Liability Charges |
14,999 |
14,647 |
37,725 |
10,055 |
| Minority Interest |
- |
- |
- |
- |
| Negative Goodwill |
- |
- |
- |
- |
|
|
|
|
|
| Total Liabilities |
253,914 |
253,154 |
411,991 |
367,841 |
|
|
|
|
|
| Stockholders' Equity |
|
|
|
|
| Misc Stocks Options Warrants |
- |
- |
- |
- |
| Redeemable Preferred Stock |
- |
- |
- |
- |
| Preferred Stock |
- |
- |
- |
- |
| Common Stock |
18,286 |
18,404 |
18,605 |
18,649 |
| Retained Earnings |
484,415 |
491,428 |
505,055 |
518,595 |
| Treasury Stock |
- |
- |
- |
- |
| Capital Surplus |
130,660 |
137,225 |
141,999 |
146,524 |
| Other Stockholder Equity |
-36,381 |
-65,094 |
-92,588 |
-83,879 |
| Total Stockholder Equity |
596,980 |
581,963 |
573,071 |
599,889 |
|
|
|
|
|
| Net Tangible Assets |
454,074 |
445,396 |
315,891 |
340,706 |
Address
|
company |
PO Box 188 |
|
address |
Rogers, CT 06263 |
|
city_state_zip |
United States - Map |
|
phone |
Fax: 860-779-5509 |
Business Summary
Rogers Corporation develops, manufactures, and distributes specialty material-based products worldwide. The company operates through Printed Circuit Materials (PCM), High Performance Foams (HPF), Power Electronics Solutions (PES), and the Other reportable segments. Its PCM segment offers printed circuit board laminate products for high frequency, high performance applications to printed circuit board fabricators under the RO3000, RO4000, RT/duroid, ULTRALAM, RO2800, LoPro, COOLSPAN, and TMM trade names; and high frequency circuit materials. The companys HPF segment offers polyurethane and silicone foam, as well as solid products manufactured in roll stock, sheet, and molded formats to converters, fabricators, distributors, and original equipment manufacturers (OEMs) for use in general industrial applications, portable electronics, consumer goods, transportation, construction, printing applications, and other markets. This segment provides its products under the PORON, R/bak, XRD, BISCO, and eSORBA trade names. Its PES segment provides curamik ceramic substrates that are used in the design of intelligent power management devices, such as insulated gate bipolar transistor modules, which enable a range of products comprising industrial motor drives, wind and solar converters, and electric and hybrid electric vehicle drive systems. This segment also offers RO-LINX products used in high power electrical inverter and converter systems for use in mass transit, clean technology applications, and variable frequency drives for high to mid power applications. The companys Other segment provides NITROPHYL floats for level sensing in fuel tanks, motors, and storage tanks; and ENDUR elastomer rollers and belts for document handling in copiers, printers, mail sorting machines, and automated teller machines. This segment also sells inverters primarily to OEMs and fabricators. Rogers Corporation was founded in 1832 and is headquartered in Rogers, Connecticut.
