Rogers Communication, Inc. (RCI) Stock Price & How to Invest

Rogers Communications is a Canadian communications and media company, domiciled in Canada and dual-listed (the Class B shares trade on the NYSE under RCI and on the TSX under RCI.B). It runs three reportable segments: Wireless, which is over half of revenue and the profit engine; Cable, covering internet, TV, and home phone across a coast-to-coast footprint expanded by the roughly C$20 billion Shaw Communications acquisition that closed in 2023; and Media, a diversified portfolio of sports, broadcasting, and specialty properties that now includes Maple Leaf Sports and Entertainment (MLSE). Rogers reports its results in Canadian dollars, so US investors also carry a CAD/USD currency exposure.

The investment picture centers on growth versus leverage. Q1 2026 revenue rose about 10 percent (helped heavily by adding MLSE to Media), net income jumped sharply, and the company raised free cash flow guidance while cutting capital spending. The offsetting concern is a large debt load taken on to fund Shaw; management has been deleveraging through structured financings and a planned sale of a minority stake in its sports and media assets. The stock carries a high dividend yield and a low headline P/E, which some see as value and others read as the market pricing in balance-sheet and regulatory risk in a mature, slow-growing Canadian market.

The dominant risk is the balance sheet: Rogers carries roughly C$45 billion of debt with a credit rating not far above investment-grade minimums, leaving little room for error. Canadian telecom is a mature, three-player market where population-driven subscriber growth is slowing and any slippage in pricing discipline could erode margins. Regulatory decisions on wholesale internet rates and expanded MVNO access are pending and could pressure economics. As a Canadian-domiciled company reporting in Canadian dollars, RCI also carries CAD/USD currency risk for US holders. Finally, the planned sports-and-media minority-stake sale is a catalyst that may not close on the expected terms or timeline.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Rogers Communication, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~C$21B
• Q1 2026 revenue: ~C$5.5B (up ~10%)
• Adjusted EBITDA (Q1 2026): ~C$2.4B
• 2026 free cash flow guidance: ~C$4.1B to C$4.3B
• Net-debt leverage: ~3.9x (improving)
• Dividend yield: ~4% to 4.5%

Rogers reports in Canadian dollars, so US investors should adjust for CAD/USD. The stock trades at a low headline P/E and a high dividend yield, which reflects both its mature cash-generative business and the market's caution on its post-Shaw debt load. Valuation debate largely tracks whether deleveraging proceeds on plan.

There are three common ways to get RCI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so RCI sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where RCI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

RCI gives US investors exposure to one of Canada's three dominant telecom operators, with a high dividend yield and a deleveraging plan that dominates the near-term picture.

Whether RCI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is RCI a buy?, and where the stock could go from here in the RCI stock forecast.

For income investors, whether RCI pays a dividend and how the payout looks is covered in does RCI pay a dividend?