Rogers Communications (RCI) financial statements

Communication Services · Telecom Services · Market cap $15.9B

Rogers Communications reported revenue of 21.7B CAD in fiscal 2025, up 5.2% a year over 9 years.

Net income was 6.9B CAD and the operating margin 45.2%, against 37.2% in 2016.

Free cash flow was 2.1B CAD, and the company returned 913M CAD in dividends.

The diluted share count rose 5% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CAD).

01020302016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CAD, from Rogers Communications's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue13.7B CAD14.1B CAD15.1B CAD15.1B CAD13.9B CAD14.7B CAD15.4B CAD19.3B CAD20.6B CAD21.7B CAD
Cost of revenue8.7B CAD8.9B CAD9.1B CAD8.9B CAD8.1B CAD8.8B CAD9.0B CAD10.7B CAD11.0B CAD11.9B CAD
Gross profit5.0B CAD5.3B CAD6.0B CAD6.2B CAD5.9B CAD5.9B CAD6.4B CAD8.6B CAD9.6B CAD9.8B CAD
Operating income5.1B CAD5.5B CAD6.0B CAD6.2B CAD5.9B CAD5.9B CAD6.4B CAD8.6B CAD9.6B CAD9.8B CAD
Interest expense761M CAD746M CAD793M CAD840M CAD881M CAD849M CAD1.2B CAD2.0B CAD2.3B CAD2.0B CAD
Pre-tax income1.2B CAD2.5B CAD2.8B CAD2.8B CAD2.2B CAD2.1B CAD2.3B CAD1.4B CAD2.3B CAD7.6B CAD
Income tax324M CAD685M CAD758M CAD712M CAD580M CAD569M CAD609M CAD517M CAD572M CAD720M CAD
Net income835M CAD1.8B CAD2.1B CAD2.0B CAD1.6B CAD1.6B CAD1.7B CAD849M CAD1.7B CAD6.9B CAD
EPS (diluted)1.62 CAD3.57 CAD3.99 CAD3.97 CAD3.13 CAD3.07 CAD3.32 CAD1.62 CAD3.20 CAD12.74 CAD
Diluted shares517M517M516M513M506M506M506M524M535M541M
Gross margin36.7%37.3%39.6%41.2%42.1%40.2%41.5%44.4%46.7%45.2%
Operating margin37.2%38.9%39.6%41.2%42.1%40.2%41.5%44.4%46.7%45.2%
Net margin6.1%13.0%13.6%13.6%11.4%10.6%10.9%4.4%8.4%31.8%

Balance sheet

Fiscal years, in CAD, from Rogers Communications's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments-71M CAD0 CAD405M CAD494M CAD2.5B CAD715M CAD463M CAD800M CAD898M CAD1.3B CAD
Receivables1.9B CAD2.0B CAD2.2B CAD2.4B CAD2.9B CAD3.8B CAD4.2B CAD5.0B CAD5.5B CAD6.1B CAD
Inventory315M CAD435M CAD466M CAD460M CAD479M CAD535M CAD438M CAD456M CAD641M CAD550M CAD
Total current assets2.6B CAD4.1B CAD4.9B CAD5.1B CAD6.9B CAD5.8B CAD19.3B CAD7.8B CAD8.4B CAD9.5B CAD
Property, plant and equipment10.7B CAD11.1B CAD11.8B CAD12.2B CAD12.2B CAD—15.6B CAD24.3B CAD25.1B CAD26.3B CAD
Goodwill3.9B CAD3.9B CAD3.9B CAD3.9B CAD4.0B CAD4.0B CAD4.0B CAD16.3B CAD16.3B CAD20.0B CAD
Total assets28.3B CAD30.5B CAD31.9B CAD37.0B CAD38.9B CAD42.0B CAD55.7B CAD69.3B CAD71.4B CAD90.0B CAD
Total current liabilities5.1B CAD6.9B CAD6.8B CAD6.0B CAD6.6B CAD8.6B CAD9.5B CAD8.8B CAD12.6B CAD15.7B CAD
Long-term debt15.3B CAD12.7B CAD13.4B CAD16.0B CAD16.8B CAD17.1B CAD29.9B CAD39.8B CAD38.2B CAD35.9B CAD
Total liabilities23.1B CAD23.0B CAD23.7B CAD27.6B CAD29.3B CAD31.4B CAD45.6B CAD58.8B CAD61.0B CAD65.7B CAD
Shareholders' equity6.3B CAD7.5B CAD8.2B CAD9.4B CAD9.6B CAD10.5B CAD10.1B CAD10.4B CAD10.4B CAD17.8B CAD
Net debt16.2B CAD14.3B CAD15.2B CAD17.7B CAD15.5B CAD18.6B CAD32.4B CAD40.7B CAD40.3B CAD38.5B CAD

Cash flow

Fiscal years, in CAD, from Rogers Communications's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow4.0B CAD3.9B CAD4.3B CAD4.5B CAD4.3B CAD4.2B CAD4.5B CAD5.2B CAD5.7B CAD6.1B CAD
Capital spending2.4B CAD2.6B CAD2.9B CAD2.9B CAD2.4B CAD54M CAD3.1B CAD4.1B CAD4.2B CAD4.0B CAD
Free cash flow1.6B CAD1.4B CAD1.4B CAD1.6B CAD2.0B CAD4.1B CAD1.4B CAD1.1B CAD1.5B CAD2.1B CAD
Stock-based compensation61M CAD61M CAD————————
Dividends paid988M CAD988M CAD988M CAD1.0B CAD1.0B CAD1.0B CAD1.0B CAD960M CAD739M CAD913M CAD
Share buybacks (net)——0 CAD-655M CAD0 CAD—————
Net borrowing-538M CAD-1.0B CAD-823M CAD2.2B CAD5.1B CAD550M CAD————
Free cash flow margin11.4%9.7%9.4%10.8%14.0%28.0%8.9%5.7%7.3%9.6%
Dividends per share1.91 CAD1.91 CAD1.91 CAD1.98 CAD2.00 CAD2.00 CAD2.00 CAD1.83 CAD1.38 CAD1.69 CAD
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Questions

What was Rogers Communications's revenue in 2025?

21.7B CAD in fiscal 2025, from its 10-K filing.

How much free cash flow does Rogers Communications generate?

2.1B CAD in fiscal 2025 (operating cash flow minus capital spending).

From Rogers Communications's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.