ROG (Rogers Corporation): Themes, ETFs, and Basket Ideas
ROG is the ticker for Rogers Corporation. This page covers what the company does, where it's heading, its approximate earnings and valuation, key competitors, the themes it belongs to, the ETFs that hold it, and similar stocks worth looking at.
What does Rogers Corporation do?
Rogers Corporation is a specialty materials company providing engineered materials and components for high-performance applications. The company organizes around three segments. Advanced Electronics Solutions (AES) makes high-frequency circuit materials, ceramic substrates, and busbar materials used in 5G/6G wireless infrastructure, automotive radar, aerospace and defense electronics, and electric vehicle power electronics. Elastomeric Material Solutions (EMS) makes engineered foam and rubber materials for sealing, vibration management, and impact protection in automotive, consumer electronics, and industrial applications.
The DuPont attempt to acquire Rogers (announced 2021, terminated 2022 after regulatory delays in China) highlighted the strategic value of Rogers's high-frequency materials portfolio. The terminated deal led to a sustained period of operational and strategic refocus by Rogers as a standalone company. Founded in 1832, headquartered in Chandler, Arizona. Colin Gouveia has been CEO since 2022.
Where is Rogers Corporation heading?
1. EV and automotive electrification.
Rogers's high-frequency materials and busbar materials are used in EV power electronics (onboard chargers, inverters), battery management systems, and automotive radar. EV adoption drives content per vehicle. The company has been investing in capacity for EV applications.
2. 5G/6G wireless infrastructure.
Rogers's high-frequency circuit materials are used in 5G base stations and antennas. Continued 5G buildout (and eventually 6G) drives demand. Lower-loss materials are required at higher frequencies, supporting premium pricing.
3. Aerospace and defense.
High-performance ceramic and high-frequency materials are used in defense electronics (radar, electronic warfare, satellite communications). Defense spending growth supports demand. Long product qualification cycles create stickiness.
4. Post-DuPont strategic refocus.
Following the terminated DuPont acquisition in 2022, Rogers has refocused on standalone operational improvement, growth investment, and product portfolio optimization. Balance sheet is strong; capital allocation flexibility is meaningful.
Risks worth tracking: Cyclical end markets (EV, 5G, automotive). Customer concentration in major automotive and infrastructure OEMs. Competition from larger specialty materials peers. China exposure and trade policy.
Earnings and valuation (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Rogers Corporation's investor relations page or your broker.
- Revenue (TTM): ~$900 million
- Operating margin: ~13% (improving from cyclical trough)
- Net income (TTM): ~$90 million
- EPS (TTM): ~$5.00
- P/E (TTM): ~25x
- Price to sales: ~2.5x
- Dividend yield: None (terminated during 2020-2022 strategic processes)
- Free cash flow: ~$80 million annually
- EV exposure: Growing share of revenue mix
Rogers trades at a premium to traditional specialty chemicals reflecting the high-frequency materials growth story, EV power electronics exposure, and the demonstrated strategic value (highlighted by the DuPont acquisition attempt). The standalone path requires continued operational execution to justify the multiple.
Themes ROG belongs to
These are the investment theses ROG naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
ROG's competitors
High-frequency circuit materials
Various specialty laminate manufacturers compete in high-frequency materials. Isola Group and Taconic Advanced Dielectric Division are smaller specialty competitors. Some larger laminate manufacturers (Panasonic Electronic Materials, Mitsubishi Gas Chemical) compete in adjacent products. Rogers is the most specialized in ultra-high-frequency materials.
Engineered foam and rubber materials
Saint-Gobain, Trelleborg, and various specialty engineered materials companies compete in elastomeric materials. The market is fragmented across various specific applications.
Similar stocks
Other names that show up alongside ROG in the same themes. Worth a look if you're thinking about diversification within a single thesis rather than concentration on one ticker.
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Using ROG in a Walnut basket
The most useful question to ask about a single stock is rarely “will it go up?”. It's “does this fit a thesis I actually believe in, and how do I size it alongside other stocks that fit the same thesis?” That's what Walnut is built for.
Open the AI assistant on Walnut and describe a thesis (for example: “the AI infrastructure buildout”, “dividend growth large-caps”, “global semiconductors”) where ROG would naturally fit. The AI proposes 5 to 6 constituents with target weights, you review, and you can fund the basket through your broker once you're ready.
Build a basket around ROG with Walnut
Use Rogers Corporation as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is Rogers Corporation's ticker symbol?
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ROG, listed on NYSE. Officially Rogers Corporation. Founded 1832, headquartered in Chandler, Arizona. Trades during US market hours, available at every major US brokerage.
Who are Rogers's competitors?
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In high-frequency circuit materials: Isola Group, Taconic Advanced Dielectric Division, Panasonic Electronic Materials, Mitsubishi Gas Chemical. Rogers is the most specialized in ultra-high-frequency materials. In engineered foam and rubber: Saint-Gobain, Trelleborg, and various specialty engineered materials companies.
What happened to the DuPont acquisition?
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DuPont announced an agreement to acquire Rogers in 2021 for approximately $5.2 billion. The deal was terminated in 2022 after the parties failed to obtain regulatory approval in China within the agreed timeframe. The terminated deal validated the strategic value of Rogers's high-frequency materials portfolio but left Rogers to continue as a standalone company.
What is Rogers's P/E ratio?
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Approximately 25x trailing twelve months as of early 2026. Premium to the S&P 500 average (~22x) reflecting the high-frequency materials growth story, EV power electronics exposure, and demonstrated strategic value. Earnings are recovering from the 2022-2024 cyclical trough; forward P/E is lower.
What does Rogers do?
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Rogers is a specialty materials company providing engineered materials and components for high-performance applications. The Advanced Electronics Solutions segment makes high-frequency circuit materials, ceramic substrates, and busbar materials. The Elastomeric Material Solutions segment makes engineered foam and rubber materials. End markets include EVs, 5G wireless, aerospace, defense, and various automotive and industrial applications.
Who owns the most Rogers stock?
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Major institutional holders include Vanguard (~10%), BlackRock (~9%), and various specialty materials and small/mid-cap funds. Insider ownership is modest. Rogers is broadly institutionally owned and held in funds focused on EV supply chain, 5G infrastructure, and specialty materials themes.
Which ETFs have the most Rogers exposure?
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Small and mid-cap ETFs (IJH, IWM) hold ROG at small weights. EV supply chain and 5G-themed ETFs hold ROG at higher concentrations but those funds have lower AUM. SOXX and SMH do not hold ROG given the small market cap. VOO does not hold ROG. Specialty materials-themed funds are the most concentrated way to gain ROG exposure passively.
Which thematic baskets typically include Rogers?
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One theme on Walnut: Semiconductors (high-frequency circuit materials for wireless and EV power electronics; specialty engineered materials used in defense electronics). ROG is a smaller-cap specialty addition to semiconductor or EV supply chain baskets.
Is Rogers in the S&P 500?
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No. ROG's market cap (~$2 billion) is below the S&P 500 threshold. It is included in the S&P MidCap 400 and various small/mid-cap and specialty materials indices. Future S&P 500 inclusion would require meaningful market cap appreciation, likely driven by EV power electronics revenue ramp.
What is Rogers's market cap?
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Approximately $2 billion as of early 2026. Market cap has been volatile across the EV and 5G investment cycles. The DuPont acquisition attempt at $5.2 billion in 2021 set a strategic ceiling that has not yet been re-reached; bull case is that operational execution drives the market cap back toward that level.
Does Rogers pay a dividend?
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No. ROG suspended its dividend during the 2020-2022 strategic processes and has not reinstated it. Capital allocation has been prioritized for operational reinvestment and acquisition opportunities. Future dividend reinstatement depends on operational stability and capital allocation framework decisions.
Why is Rogers an EV stock?
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Rogers's high-frequency materials and busbar materials are used in EV power electronics: onboard chargers, inverters, battery management systems, and automotive radar systems. Each EV uses substantially more high-frequency materials content than ICE vehicles. The EV adoption ramp drives Rogers content per vehicle. The company has been investing in capacity for EV applications.
How does Rogers benefit from 5G?
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Rogers's high-frequency circuit materials are used in 5G base station antennas and radio frequency components. Lower-loss materials are required at higher 5G frequencies (mmWave bands), supporting premium pricing for Rogers products. Continued 5G buildout globally plus eventual 6G transitions drive demand. The 5G infrastructure cycle is the second pillar of Rogers's growth story after EV.
Should I own Rogers directly or through a specialty materials ETF?
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Direct ROG gives concentrated specialty materials exposure with EV and 5G upside plus the strategic premium potential. Specialty materials ETFs (XLB, VAW) hold ROG at small weights given the market cap. For meaningful ROG exposure, direct ownership is necessary; the position is typically a smaller satellite given the small-cap volatility.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Rogers Corporation's investor relations page or your broker before making investment decisions.