Rogers Communications (FRA:RCIB) Operating Income: €3,167 Mil (TTM As of Mar. 2026)

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FRA:RCIB Rogers Communications Inc FRA:RCIB
82 GF Score
Price €28.74
GF Value €33.87
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Rogers Communications Operating Income?

Rogers Communications FRA:RCIB -1.44% 82 Operating Income is €3,167 Mil as of Mar. 2026. GuruFocus rates FRA:RCIB with a GF Score™ of 82/100 and a GF Value™ of €33.87 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Rogers Communications's Operating Income for the three months ended in Mar. 2026 was €721 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €3,167 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Rogers Communications's Operating Income for the three months ended in Mar. 2026 was €721 Mil. Rogers Communications's Revenue for the three months ended in Mar. 2026 was €3,456 Mil. Therefore, Rogers Communications's Operating Margin % for the quarter that ended in Mar. 2026 was 20.85%.

Good Sign:

Rogers Communications Inc operating margin is expanding. Margin expansion is usually a good sign.

Rogers Communications's 5-Year average Growth Rate for Operating Margin % was 0.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Rogers Communications's annualized ROC % for the quarter that ended in Mar. 2026 was 3.68%. Rogers Communications's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.96%.


Rogers Communications  (FRA:RCIB) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Rogers Communications's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2882.492 * ( 1 - 26.41% )/( (56548.481 + 58644.1)/ 2 )
=2121.2258628/57596.2905
=3.68 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=55723.268 - 2990.702 - ( 832.023 - max(0, 9689.603 - 5873.688+832.023))
=56548.481

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=56716.764 - 2827.642 - ( 873.827 - max(0, 10644.165 - 5889.187+873.827))
=58644.1

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Rogers Communications's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2950.584/( ( (16285.74 + max(-1183.651, 0)) + (16563.615 + max(-960.201, 0)) )/ 2 )
=2950.584/( ( 16285.74 + 16563.615 )/ 2 )
=2950.584/16424.6775
=17.96 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3779.391 + 340.486 + 748.45) - (2990.702 + 689.638 + 2371.638)
=-1183.651

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3567.179 + 290.645 + 1062.966) - (2827.642 + 679.643 + 2373.706)
=-960.201

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Rogers Communications's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=720.623/3456.217
=20.85 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Rogers Communications Operating Income Related Terms


Rogers Communications Operating Income Historical Data

* Premium members only.

The historical data trend for Rogers Communications's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Rogers Communications Operating Income Chart

Rogers Communications Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,283.02 2,652.37 3,048.47 3,353.59 3,106.47

Rogers Communications Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 701.03 747.24 791.40 908.17 720.62
FRA:RCIB
82GF Score
Rogers Communications Inc FRA:RCIB
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Rogers Communications Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €3,167 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of €3,167 Mil mean?
Rogers Communications (FRA:RCIB) has a Operating Income of €3,167 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Rogers Communications and its competitors.
Is Rogers Communications' Operating Income too high?
Rogers Communications' current Operating Income is €3,167 Mil. Overall, Rogers Communications has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Rogers Communications' Operating Income compare to TMUS and VZ?
Rogers Communications' Operating Income of €3,167 Mil can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Telecommunication Services company?
A good Operating Income depends on the Telecommunication Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Rogers Communications and its competitors. Rogers Communications's current Operating Income is €3,167 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rogers Communications stock overvalued right now?
Based on GuruFocus' analysis, Rogers Communications (FRA:RCIB) is currently considered Modestly Undervalued. The stock's GF Value™ is €33.87, compared to a current price of €28.74 — trading 15.1% below its estimated fair value. The current Operating Income is €3,167 Mil. Rogers Communications' overall GF Score™ is 82/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Rogers Communications (FRA:RCIB), the current Operating Income is €3,167 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Rogers Communications (FRA:RCIB) Overvalued in 2026?

Based on GuruFocus' analysis, Rogers Communications stock appears to be undervalued. The current stock price of €28.74 is trading 15.1% below its estimated GF Value™ of €33.87. GuruFocus considers Rogers Communications to be Modestly Undervalued.

Key valuation signals for FRA:RCIB:

  • Operating Income: €3,167 Mil
  • GF Value™: €33.87 vs. price of €28.74 (15.1% below fair value)
  • GF Score™: 82/100 with 5 warning signs

No single metric tells the full story. See the FRA:RCIB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Rogers Communications Business Description

Address 333 Bloor Street East, 10th Floor, Toronto, ON, CAN, M4W 1G9
Rogers Communications is the largest wireless service provider in Canada with more than 11 million subscribers, equating to one-third of the total Canadian market. Rogers' wireless business accounts for more than half of total revenue and has been growing at a higher rate than other segments. The cable segment, which provides about 38% of total revenue after acquiring Shaw, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and major Toronto sports franchises, including the Blue Jays, Maple Leafs, Raptors, Toronto FC, and Argonauts.
82GF Score

Get the complete analysis for FRA:RCIB

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€28.74
Price
€33.87
GF Value