ROG|ROGERS CORP
Plastic Materials, Synth Resins & Nonvulcan Elastomers
- Revenue
- $811M
- ▼ 2.3% YoY
- Operating margin
- -5.6%
- ▼ 285% YoY
- EBITDA
- $9M
- ▼ 87% YoY
- Market cap
- $2.4B
- Employees
- 3,000
- $270K revenue each
- Net debt / EBITDA
- -12.2×
- −$113M net debt
- AI in 10-K
- 1.3
- mentions per 10K words
TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
52% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
21% of assets
Over 40% of assets
Shareholder dissentNo
97% lowest support
Any vote under 80% support
Buyer economics 2 of 4
Low revenue per employeeNo
$270K · 41st pct
Bottom quartile of its SIC industry
Quiet on AINo
1.3 per 10K words · 42nd pct
Bottom quartile of AI mentions in 10-Ks
Net cashYes
Net cash · 12.2× EBITDA
More cash than debt, positive EBITDA
Buyout-sizedYes
$2.4B market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $933M | $971M | $908M | $830M | $811M | ▼ 2.3% | |
|---|
| Operating income | $117M | $144M | $85M | $25M | −$45M | ▼ 281% | |
|---|
| Net income | $108M | $117M | $57M | $26M | −$62M | ▼ 337% | |
|---|
| Operating cash flow | $124M | $130M | $131M | $127M | $101M | ▼ 20% | |
|---|
| Capex | $71M | $117M | $57M | $56M | $30M | ▼ 46% | |
|---|
| Stock-based comp | $17M | $12M | $14M | $15M | $11M | ▼ 28% | |
|---|
| Buybacks | $0 | $25M | $0 | $20M | $52M | ▲ 165% | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Jan 23, 2026 | Starboard Value LP | SCHEDULE 13D/A | 9.7% | Passive |
| Oct 31, 2025 | Starboard Value LP | SCHEDULE 13D/A | 6.7% | Passive |
| Aug 6, 2025 | Starboard Value LP | SCHEDULE 13D | 1.8% | Passive |
| Jun 6, 2023 | Starboard Value LP | SC 13D/A | 4.6% | Passive |
| Feb 27, 2023 | Starboard Value LP | SC 13D/A | 6.5% | Passive |
| Feb 6, 2023 | Starboard Value LP | SC 13D | — | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 9
- Net
- −$2M
Pay vs performance
No pay-versus-performance disclosure yet.