Rogers Corporation (ROG): History, Ownership, Mission, How It Works & Makes Money

How does a company like Rogers Corporation (ROG), a global leader in engineered materials, navigate a volatile 2025 market while powering the world's most advanced electronics? You're seeing a business that reported Q3 2025 net sales of $216.0 million and a jump in Adjusted Earnings Per Share (EPS) to $0.90, a sharp rebound from the prior quarter, which shows real momentum in their Advanced Electronics Solutions and Elastomeric Material Solutions segments. This is a story about how specialized materials-the components that make electric vehicles (EV/HEV), 5G infrastructure, and mobile devices work-translate directly into shareholder value, but you need to know what drives that value, especially when a single quarter can swing from a loss to a significant gain.

Rogers Corporation (ROG) History

You might not realize it, but Rogers Corporation (ROG) has been around for nearly two centuries, which is a staggering run for any company. Their story isn't one of a steady march, but of radical, defintely smart pivots-from a paper mill in 1832 to a global leader in high-performance engineered materials for electric vehicles and 5G infrastructure today. This deep history gives them a resilience you don't see in younger firms. To truly understand their current trajectory, including their trailing twelve-month (TTM) revenue of $0.80 Billion USD as of 2025, you have to look at where they started and how they evolved.

Rogers Corporation's Founding Timeline

Year established

1832

Original location

Manchester, Connecticut

Founding team members

Peter Rogers, who established the business as the Rogers Paper Manufacturing Company.

Initial capital/funding

The venture started as a privately funded paper manufacturing operation. Honestly, specific initial funding figures from 1832 are not available, but the operation was established enough to last.

Rogers Corporation's Evolution Milestones

Rogers Corporation's Transformative Moments

The company's most transformative moments came from recognizing when their core competency-material science-needed a new market. They didn't just stick to paper; they translated their manufacturing know-how into polymers and then into specialized electronics and elastomeric materials. That's how you stay relevant for 193 years.

The pivot from a paper mill to a specialty engineered materials company was a century-long process, but the most recent, high-stakes moment was the aborted acquisition by DuPont. In November 2021, DuPont announced an intent to acquire Rogers Corporation for $5.2 billion.

This deal, which would have fundamentally reshaped the company, was terminated in 2023 due to long delays in receiving regulatory approval from the People's Republic of China's State Administration for Market Regulation. The fallout was significant, but it also solidified Rogers Corporation's independence, with DuPont paying a $162.5 million USD termination fee.

Post-acquisition, the focus has been on internal optimization and growth in key sectors, which you can see in the recent financial results. For example, in the third quarter of 2025, Rogers Corporation reported net sales of $216.0 million and adjusted earnings per share of $0.90. This is a strong rebound from the Q2 2025 net loss of $73.6 million, which included significant non-cash impairment charges. Here's the quick math on their current cost focus:

• Cost Savings: Expected $25 million in net savings for the full year 2025.
• Run-Rate Savings: Target an annualized cost savings run rate of $32 million.
• Capital Expenditure (CapEx) Cut: Reduced the 2025 full-year CapEx guidance to between $30 million and $40 million.

They are aggressively managing their cost structure while pushing into high-growth areas like electric vehicle (EV/HEV) power modules-a new China curamik plant is ramping up production in mid-2025 to support this. If you want a deeper dive into their current financial position, I suggest reading Breaking Down Rogers Corporation (ROG) Financial Health: Key Insights for Investors.

Rogers Corporation (ROG) Ownership Structure

Rogers Corporation's ownership is defintely dominated by large institutional investors, a structure that drives a strong focus on capital efficiency and shareholder returns. This high concentration means a few major firms hold significant sway over strategic decisions, which is something you need to track closely.

Rogers Corporation's Current Status

Rogers Corporation (ROG) is a publicly traded company on the New York Stock Exchange (NYSE), trading under the ticker ROG. As of November 2025, the company maintains a market capitalization of approximately $1.45 Billion USD, reflecting its position as a specialized leader in engineered materials for high-growth markets like electric vehicles and wireless infrastructure.

The company operates out of Chandler, Arizona, and its public status ensures a high level of transparency through regular SEC filings, which is crucial for any investor looking for deep-dive financial data. For a more granular view of who is buying and selling, you should check out Exploring Rogers Corporation (ROG) Investor Profile: Who's Buying and Why?

Rogers Corporation's Ownership Breakdown

The ownership breakdown shows that institutional money-pension funds, mutual funds, and asset managers-controls the vast majority of the company's stock. This concentration means any large-scale portfolio rebalancing by a top holder like Vanguard Group Inc. or BlackRock Inc. can impact the share price immediately.

Here's the quick math on who owns the shares, using the most recent 2025 fiscal year data:

Rogers Corporation's Leadership

The company is steered by a management team focused on executing its strategy across its three core segments: Advanced Electronics Solutions, Elastomeric Material Solutions, and Other industrial applications.

In October 2025, the Board of Directors saw a key transition with the appointment of a new Chair, signaling a continued effort to align governance with activist shareholder interests like Starboard Value LP. That's a clear signal for performance accountability.

• CEO: Colin Gouveia, President and CEO, who commented on Q1 2025 sales of $190.5 million.
• CFO: Laura Russell, Senior Vice President, Chief Financial Officer, and Treasurer, appointed in 2024.
• Board Chair: Armand Lauzon, appointed Chair of the Board in October 2025, bringing over four decades of experience in manufacturing leadership.
• President, Advanced Electronics Solutions: Jeff Tsao, named to the role in 2025, leading the business that serves high-growth markets like EV/HEV.

Rogers Corporation (ROG) Mission and Values

Rogers Corporation stands for more than just high-performance materials; its purpose is to enable a cleaner, safer, and better-connected world through advanced engineering. This commitment is the cultural DNA that drives their strategic financial targets, like aiming for 2025 revenue between $1.2 billion and $1.3 billion.

Rogers Corporation's Core Purpose

The company's core purpose goes beyond a simple profit motive, mapping directly to global secular trends like electrification and industrial transformation. They focus on providing the essential components that make next-generation technology work reliably. Honestly, their mission is a practical, materials-science approach to societal progress.

Official mission statement

While Rogers Corporation doesn't publish a single, formal mission statement in the traditional sense, their core business focus acts as their guiding purpose: Helping power, protect, connect our world.

• Power: Delivering materials for high-efficiency power management in electric vehicles and renewable energy.
• Protect: Providing reliable cushioning and sealing solutions critical to product performance and safety.
• Connect: Enabling high-speed and high-power electronics for wireless and wired infrastructure.

This focus is backed by real investment; for example, in the 2024 fiscal year, the company allocated $79.7 million to research and development, which is the engine for this continuous innovation.

Vision statement

Rogers Corporation's vision is a clear roadmap for their market position and growth trajectory. It's about being a leader, not just a participant, in specialized materials.

• Be a High-Growth technology leader.
• Deliver Innovative Materials Solutions.
• Enable Customers to Power, Protect and Connect Our World.

This vision is tied to tangible financial goals, like achieving an Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin of 24% to 26% by the end of 2025. Here's the quick math: hitting the midpoint of that range on a $1.25 billion revenue target means generating about $312.5 million in Adjusted EBITDA, a significant step up from their 2024 gross profit of $249.9 million.

Rogers Corporation slogan/tagline

The most consistent public-facing statement that acts as a tagline, summarizing their value proposition, is: Exploring Rogers Corporation (ROG) Investor Profile: Who's Buying and Why?

• Helping power, protect, connect our world.

The company's Cultural Behaviors are the core values that guide how they execute this tagline. They are the internal operating system, defintely crucial for maintaining integrity and driving innovation across their global manufacturing footprint in the US, Europe, and Asia.

• Live Safely.
• Trust.
• Speak Openly.
• Innovate.
• Just Decide.
• Deliver Results.
• Simply Improve.

These values, especially 'Innovate' and 'Deliver Results,' are the bedrock of their growth strategy, which targets an Adjusted EPS (Earnings Per Share) of $8.50 to $9.50 for the 2025 fiscal year. That's a strong signal to investors about the expected return on their materials science expertise.

Rogers Corporation (ROG) How It Works

Rogers Corporation delivers value by engineering high-performance specialty materials-primarily advanced electronic and elastomeric solutions-that enable critical functions like thermal management, signal integrity, and impact protection in high-reliability applications. The company makes money by selling these proprietary, highly technical material components, which are indispensable to customers in high-growth markets like electric vehicles and 5G infrastructure.

Rogers Corporation's Product/Service Portfolio

The company operates through two primary segments: Advanced Electronics Solutions (AES) and Elastomeric Material Solutions (EMS). The products are typically custom-engineered components sold to Original Equipment Manufacturers (OEMs) and component suppliers globally.

Rogers Corporation's Operational Framework

Operational efficiency in 2025 is defintely centered on consolidating manufacturing footprints and driving cost savings while strategically investing in high-growth areas. The goal is to improve margins in a challenging market.

Here's the quick math: the company is targeting $25 million in total cost savings for the 2025 fiscal year, with a projected annual run-rate improvement of $32 million from actions like headcount reductions and facility optimization. This is a serious push for margin resilience.

The core framework relies on a global, yet increasingly localized, manufacturing and distribution network, which is critical for mitigating geopolitical risks like tariffs. This local-for-local strategy is evident in the mid-2025 ramp-up of a new Curamik plant in China, specifically supporting local Electric Vehicle (EV) and Hybrid Electric Vehicle (HEV) power module growth. Capital expenditures (CapEx) for the full year are expected to be between $30 million and $40 million, reflecting a focused investment approach.

• Manufacture high-tolerance materials in the U.S., Asia, and Europe.
• Prioritize R&D in thermal management and signal integrity.
• Execute cost-reduction plans to expand gross margin, which was 33.5% in Q3 2025.
• Use a local-for-local model to manage supply chain and tariff risks.

Rogers Corporation's Strategic Advantages

Rogers Corporation's market success hinges on its deep materials science expertise, which creates a high barrier to entry for competitors. You can't just replicate a proprietary, high-frequency laminate overnight. Breaking Down Rogers Corporation (ROG) Financial Health: Key Insights for Investors

The company's primary advantage is its technological leadership in engineered materials for demanding applications. Products like the Curamik substrates for power modules or the RO4000 series laminates are integral to customer designs, making them 'sticky' suppliers. This is a classic competitive moat (economic moat) built on intellectual property and co-engineering with clients.

• Technological Expertise: Decades of experience in developing proprietary materials like PTFE, silicones, and polyurethanes for extreme conditions.
• Diverse, High-Growth Exposure: The product portfolio is strategically weighted toward secular growth trends like vehicle electrification (EV/HEV), Advanced Driver-Assistance Systems (ADAS), 5G wireless, and renewable energy.
• Embedded Supplier Status: Their materials are often specified early in the design-in phase for critical components, which locks them into long product life cycles with customers in the automotive and aerospace sectors.
• Scale and Global Footprint: Operating manufacturing and sales globally allows them to serve multinational OEMs and manage regional supply chain dynamics efficiently.

Rogers Corporation (ROG) How It Makes Money

Rogers Corporation makes money by manufacturing and selling high-performance engineered materials and components, which are essential, often custom-designed, solutions for demanding applications in high-growth markets like electric vehicles (EVs), 5G wireless infrastructure, and aerospace and defense. This is a high-value, niche business where material science expertise allows for premium pricing.

Rogers Corporation's Revenue Breakdown

The company's net sales for the third quarter of 2025 (Q3 2025) totaled $216.0 million, a 6.5% sequential increase from the prior quarter. The revenue is primarily split between two major segments, with a smaller 'Other' category rounding out the total. Here's the quick math on the segment contributions for Q3 2025, based on reported sequential growth:

The Advanced Electronics Solutions (AES) segment, which brought in roughly $114.4 million in Q3 2025, focuses on high-frequency circuit materials and ceramic substrates, critical for applications like EV/Hybrid Electric Vehicle (EV/HEV) power modules, wireless infrastructure, and industrial power. The Elastomeric Material Solutions (EMS) segment, with approximately $97.6 million in Q3 2025 sales, provides high-performance foams and materials for sealing, vibration management, and impact protection in portable electronics, aerospace, and defense.

Business Economics

Rogers Corporation operates on a specialized economic model built on intellectual property (IP) and deep collaboration with customers. They are not selling commodities; they are selling custom-engineered solutions. This technical sales approach means margins are earned on material performance and reliability, not just volume.

• Pricing Power: The company's products, like their RT/duroid® laminates, are often 'design-ins'-meaning they are qualified and built into a customer's product design early on. This creates a high switching cost for the customer and gives Rogers Corporation better pricing power.
• Cost Management: Management is keenly focused on operational efficiency, projecting net cost savings of $25 million for the full year 2025, with an annualized run-rate savings of $32 million. This is defintely a key lever for margin expansion in a period of fluctuating demand.
• Strategic Investment: Capital expenditures (CapEx) for the full year 2025 are expected to be between $30 million and $40 million, a reduction from earlier forecasts, showing a focus on capital efficiency while still funding key projects like the ramp-up of the new curamik facility in China.

What this estimate hides is the ongoing impact of tariffs and the costs associated with restructuring, like the wind-down of production in Belgium, which will continue to affect financials into 2026.

Rogers Corporation's Financial Performance

The company demonstrated a significant financial turnaround in the third quarter of 2025, moving from a substantial net loss in Q2 to solid profitability. This is a crucial indicator of business health, showing that cost controls and market improvements are starting to stick.

• Net Sales: Q3 2025 net sales were $216.0 million, an increase of 2.7% year-over-year and 6.5% sequentially, driven by strength in portable electronics, industrial, and aerospace/defense markets.
• Gross Margin: The gross margin improved to 33.5% in Q3 2025, up 190 basis points from 31.6% in the prior quarter, reflecting higher volumes and favorable product mix.
• Adjusted EBITDA: Adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) for Q3 2025 was $37.2 million, or 17.2% of sales, a strong sequential improvement.
• Free Cash Flow: Free cash flow (FCF), which is net cash from operating activities minus capital expenditures, surged to $21.2 million in Q3 2025, up sharply from $5.6 million in Q2 2025, indicating better working capital management.

The company's strong balance sheet, with cash and cash equivalents ending Q3 2025 at $167.8 million, provides the flexibility to continue share repurchases, with approximately $66 million remaining on the existing authorization. For a deeper dive into what this means for your portfolio, check out Breaking Down Rogers Corporation (ROG) Financial Health: Key Insights for Investors.

Rogers Corporation (ROG) Market Position & Future Outlook

Rogers Corporation is navigating a complex 2025, focusing on operational efficiency to offset soft industrial and electric vehicle (EV) demand, still maintaining a leadership position in specialized engineered materials for high-growth sectors like Advanced Driver-Assistance Systems (ADAS) and aerospace.

You should see the company's trajectory as a strategic pivot: they are doubling down on proprietary technology and cost cuts to power a margin recovery, even as top-line growth remains pressured by macroeconomic uncertainty.

Competitive Landscape

Rogers Corporation operates in highly specialized niches within the global engineered materials market, competing on performance and reliability rather than pure volume. This means its market share is high in its core segments, but small compared to diversified giants. Here's a quick view of the landscape as of late 2025:

Here's the quick math: Rogers Corporation's TTM revenue is approximately $0.80 Billion USD. The total High Frequency High Speed Board market is valued at $3.7 billion in 2025, so Rogers has a significant share in that core Advanced Electronics Solutions (AES) segment. Competitors like Vishay Intertechnology, with a Q3 2025 revenue of $790.6 million, and Avient Corporation, with a TTM revenue of $3.25 Billion, compete across different, broader swaths of the electronic components and specialty materials world, but their size shows the pressure on Rogers' focus areas.

Opportunities & Challenges

The company is executing a clear strategy to capture growth in specific end markets while aggressively managing costs.

Industry Position

Rogers Corporation holds a powerful, specialized position in the engineered materials industry, acting as a critical, high-performance supplier rather than a commodity producer. Its focus on materials that 'power, protect and connect' the world-like high-frequency laminates for 5G wireless infrastructure and specialized foams for impact protection-gives it a defensible moat.

• Niche Leadership: The Advanced Electronics Solutions (AES) segment is a leader in high-frequency circuit materials, which are essential for the 5G rollout and sophisticated radar systems (ADAS).
• Strategic Realignment: The company is actively shifting its manufacturing footprint to a 'local-for-local' model, notably ramping up a China facility to mitigate tariff risks and better serve local EV/HEV customers. This is defintely a smart move.
• Financial Health Focus: Management is prioritizing profitability, with Q3 2025 adjusted earnings per share (EPS) climbing to $0.90, a significant sequential improvement from $0.34 in Q2 2025.

To see a deeper dive into the numbers, you should read Breaking Down Rogers Corporation (ROG) Financial Health: Key Insights for Investors. They are executing a clear plan, but the market recovery, especially in EV, needs to accelerate to fully validate their strategy.