Intrinsic value of Rogers - ROG

Previous Close

$158.40

  Intrinsic Value

$605.83

stock screener

  Rating & Target

str. buy

+282%

Previous close

$158.40

 
Intrinsic value

$605.83

 
Up/down potential

+282%

 
Rating

str. buy

We calculate the intrinsic value of ROG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.34
  28.00
  25.70
  23.63
  21.77
  20.09
  18.58
  17.22
  16.00
  14.90
  13.91
  13.02
  12.22
  11.50
  10.85
  10.26
  9.74
  9.26
  8.84
  8.45
  8.11
  7.80
  7.52
  7.26
  7.04
  6.83
  6.65
  6.49
  6.34
  6.20
  6.08
Revenue, $m
  656
  840
  1,055
  1,305
  1,589
  1,908
  2,263
  2,652
  3,077
  3,535
  4,027
  4,551
  5,107
  5,695
  6,312
  6,960
  7,638
  8,345
  9,082
  9,850
  10,648
  11,479
  12,341
  13,238
  14,170
  15,138
  16,145
  17,192
  18,282
  19,416
  20,597
Variable operating expenses, $m
 
  385
  479
  588
  711
  849
  1,003
  1,173
  1,357
  1,556
  1,770
  1,977
  2,218
  2,473
  2,741
  3,023
  3,317
  3,624
  3,944
  4,278
  4,625
  4,985
  5,360
  5,749
  6,154
  6,574
  7,012
  7,467
  7,940
  8,432
  8,945
Fixed operating expenses, $m
 
  280
  287
  294
  301
  309
  317
  325
  333
  341
  349
  358
  367
  376
  386
  395
  405
  415
  426
  436
  447
  459
  470
  482
  494
  506
  519
  532
  545
  559
  573
Total operating expenses, $m
  572
  665
  766
  882
  1,012
  1,158
  1,320
  1,498
  1,690
  1,897
  2,119
  2,335
  2,585
  2,849
  3,127
  3,418
  3,722
  4,039
  4,370
  4,714
  5,072
  5,444
  5,830
  6,231
  6,648
  7,080
  7,531
  7,999
  8,485
  8,991
  9,518
Operating income, $m
  84
  174
  289
  423
  577
  750
  943
  1,155
  1,387
  1,638
  1,908
  2,217
  2,522
  2,845
  3,185
  3,542
  3,915
  4,305
  4,712
  5,136
  5,577
  6,035
  6,512
  7,007
  7,522
  8,058
  8,615
  9,194
  9,797
  10,425
  11,079
EBITDA, $m
  122
  224
  347
  489
  653
  837
  1,042
  1,268
  1,515
  1,781
  2,068
  2,374
  2,699
  3,042
  3,404
  3,783
  4,180
  4,594
  5,027
  5,477
  5,945
  6,433
  6,939
  7,466
  8,013
  8,582
  9,174
  9,790
  10,430
  11,098
  11,793
Interest expense (income), $m
  3
  8
  13
  17
  23
  29
  36
  44
  53
  62
  73
  83
  95
  108
  121
  134
  149
  164
  180
  196
  213
  231
  249
  269
  288
  309
  331
  353
  376
  401
  426
Earnings before tax, $m
  82
  166
  277
  406
  554
  721
  906
  1,111
  1,334
  1,576
  1,835
  2,133
  2,427
  2,738
  3,065
  3,408
  3,767
  4,142
  4,533
  4,940
  5,364
  5,804
  6,262
  6,739
  7,234
  7,748
  8,284
  8,841
  9,421
  10,024
  10,653
Tax expense, $m
  34
  45
  75
  110
  150
  195
  245
  300
  360
  425
  496
  576
  655
  739
  827
  920
  1,017
  1,118
  1,224
  1,334
  1,448
  1,567
  1,691
  1,819
  1,953
  2,092
  2,237
  2,387
  2,544
  2,707
  2,876
Net income, $m
  48
  121
  202
  296
  404
  526
  662
  811
  974
  1,150
  1,340
  1,557
  1,772
  1,998
  2,237
  2,488
  2,750
  3,023
  3,309
  3,606
  3,915
  4,237
  4,572
  4,919
  5,281
  5,656
  6,047
  6,454
  6,877
  7,318
  7,777

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  228
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,057
  1,062
  1,334
  1,650
  2,009
  2,412
  2,861
  3,353
  3,890
  4,469
  5,091
  5,754
  6,457
  7,199
  7,980
  8,799
  9,656
  10,550
  11,482
  12,453
  13,462
  14,512
  15,602
  16,736
  17,914
  19,138
  20,411
  21,735
  23,112
  24,546
  26,039
Adjusted assets (=assets-cash), $m
  829
  1,062
  1,334
  1,650
  2,009
  2,412
  2,861
  3,353
  3,890
  4,469
  5,091
  5,754
  6,457
  7,199
  7,980
  8,799
  9,656
  10,550
  11,482
  12,453
  13,462
  14,512
  15,602
  16,736
  17,914
  19,138
  20,411
  21,735
  23,112
  24,546
  26,039
Revenue / Adjusted assets
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
  0.791
Average production assets, $m
  284
  364
  457
  565
  688
  826
  980
  1,148
  1,332
  1,531
  1,744
  1,971
  2,212
  2,466
  2,733
  3,014
  3,307
  3,613
  3,933
  4,265
  4,611
  4,970
  5,344
  5,732
  6,136
  6,555
  6,991
  7,444
  7,916
  8,407
  8,919
Working capital, $m
  357
  170
  214
  265
  323
  387
  459
  538
  625
  718
  817
  924
  1,037
  1,156
  1,281
  1,413
  1,550
  1,694
  1,844
  2,000
  2,162
  2,330
  2,505
  2,687
  2,876
  3,073
  3,277
  3,490
  3,711
  3,941
  4,181
Total debt, $m
  245
  358
  495
  654
  834
  1,037
  1,263
  1,511
  1,781
  2,072
  2,385
  2,718
  3,072
  3,445
  3,838
  4,250
  4,681
  5,131
  5,599
  6,088
  6,595
  7,123
  7,672
  8,242
  8,835
  9,450
  10,091
  10,757
  11,450
  12,171
  12,922
Total liabilities, $m
  421
  534
  671
  830
  1,010
  1,213
  1,439
  1,687
  1,957
  2,248
  2,561
  2,894
  3,248
  3,621
  4,014
  4,426
  4,857
  5,307
  5,775
  6,264
  6,771
  7,299
  7,848
  8,418
  9,011
  9,626
  10,267
  10,933
  11,626
  12,347
  13,098
Total equity, $m
  636
  528
  663
  820
  998
  1,199
  1,422
  1,667
  1,933
  2,221
  2,530
  2,860
  3,209
  3,578
  3,966
  4,373
  4,799
  5,243
  5,707
  6,189
  6,691
  7,212
  7,754
  8,318
  8,903
  9,512
  10,144
  10,802
  11,487
  12,199
  12,942
Total liabilities and equity, $m
  1,057
  1,062
  1,334
  1,650
  2,008
  2,412
  2,861
  3,354
  3,890
  4,469
  5,091
  5,754
  6,457
  7,199
  7,980
  8,799
  9,656
  10,550
  11,482
  12,453
  13,462
  14,511
  15,602
  16,736
  17,914
  19,138
  20,411
  21,735
  23,113
  24,546
  26,040
Debt-to-equity ratio
  0.385
  0.680
  0.750
  0.800
  0.840
  0.870
  0.890
  0.910
  0.920
  0.930
  0.940
  0.950
  0.960
  0.960
  0.970
  0.970
  0.980
  0.980
  0.980
  0.980
  0.990
  0.990
  0.990
  0.990
  0.990
  0.990
  0.990
  1.000
  1.000
  1.000
  1.000
Adjusted equity ratio
  0.492
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  48
  121
  202
  296
  404
  526
  662
  811
  974
  1,150
  1,340
  1,557
  1,772
  1,998
  2,237
  2,488
  2,750
  3,023
  3,309
  3,606
  3,915
  4,237
  4,572
  4,919
  5,281
  5,656
  6,047
  6,454
  6,877
  7,318
  7,777
Depreciation, amort., depletion, $m
  38
  50
  57
  66
  76
  87
  99
  113
  127
  143
  160
  158
  177
  197
  219
  241
  265
  289
  315
  341
  369
  398
  428
  459
  491
  524
  559
  596
  633
  673
  713
Funds from operations, $m
  132
  171
  260
  362
  480
  613
  761
  924
  1,101
  1,294
  1,500
  1,715
  1,949
  2,196
  2,456
  2,729
  3,014
  3,312
  3,623
  3,947
  4,284
  4,635
  4,999
  5,378
  5,771
  6,181
  6,607
  7,049
  7,510
  7,990
  8,490
Change in working capital, $m
  15
  37
  44
  51
  58
  65
  72
  79
  86
  93
  100
  106
  113
  119
  125
  131
  138
  144
  150
  156
  162
  169
  175
  182
  189
  197
  204
  213
  221
  230
  240
Cash from operations, $m
  117
  134
  216
  312
  422
  548
  689
  845
  1,015
  1,201
  1,400
  1,608
  1,836
  2,077
  2,330
  2,597
  2,877
  3,169
  3,474
  3,791
  4,122
  4,466
  4,824
  5,196
  5,582
  5,984
  6,402
  6,837
  7,289
  7,760
  8,251
Maintenance CAPEX, $m
  0
  -23
  -29
  -37
  -45
  -55
  -66
  -78
  -92
  -107
  -122
  -139
  -158
  -177
  -197
  -219
  -241
  -265
  -289
  -315
  -341
  -369
  -398
  -428
  -459
  -491
  -524
  -559
  -596
  -633
  -673
New CAPEX, $m
  -18
  -80
  -93
  -108
  -123
  -138
  -154
  -169
  -184
  -199
  -213
  -227
  -241
  -254
  -267
  -280
  -293
  -306
  -319
  -332
  -346
  -359
  -374
  -388
  -403
  -419
  -436
  -453
  -472
  -491
  -511
Cash from investing activities, $m
  -152
  -103
  -122
  -145
  -168
  -193
  -220
  -247
  -276
  -306
  -335
  -366
  -399
  -431
  -464
  -499
  -534
  -571
  -608
  -647
  -687
  -728
  -772
  -816
  -862
  -910
  -960
  -1,012
  -1,068
  -1,124
  -1,184
Free cash flow, $m
  -35
  31
  93
  167
  254
  355
  469
  597
  740
  895
  1,065
  1,242
  1,437
  1,645
  1,866
  2,098
  2,342
  2,598
  2,865
  3,144
  3,435
  3,738
  4,053
  4,380
  4,720
  5,074
  5,442
  5,824
  6,222
  6,636
  7,067
Issuance/(repayment) of debt, $m
  62
  117
  137
  159
  181
  203
  225
  248
  270
  292
  313
  333
  354
  373
  393
  412
  431
  450
  469
  488
  508
  528
  549
  570
  593
  616
  640
  666
  693
  721
  751
Issuance/(repurchase) of shares, $m
  -3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  58
  117
  137
  159
  181
  203
  225
  248
  270
  292
  313
  333
  354
  373
  393
  412
  431
  450
  469
  488
  508
  528
  549
  570
  593
  616
  640
  666
  693
  721
  751
Total cash flow (excl. dividends), $m
  23
  148
  230
  326
  435
  558
  695
  845
  1,009
  1,187
  1,378
  1,575
  1,791
  2,019
  2,258
  2,510
  2,773
  3,048
  3,334
  3,633
  3,943
  4,266
  4,601
  4,950
  5,313
  5,690
  6,082
  6,490
  6,915
  7,357
  7,818
Retained Cash Flow (-), $m
  -51
  -116
  -136
  -157
  -178
  -201
  -223
  -245
  -267
  -288
  -309
  -329
  -349
  -369
  -388
  -407
  -426
  -444
  -463
  -482
  -502
  -522
  -542
  -563
  -585
  -608
  -633
  -658
  -685
  -713
  -742
Prev. year cash balance distribution, $m
 
  224
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  257
  95
  169
  256
  357
  472
  600
  743
  899
  1,069
  1,246
  1,442
  1,650
  1,870
  2,103
  2,347
  2,603
  2,871
  3,150
  3,441
  3,744
  4,059
  4,387
  4,727
  5,081
  5,449
  5,832
  6,230
  6,644
  7,076
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  246
  87
  147
  211
  277
  342
  406
  464
  516
  560
  592
  615
  627
  628
  617
  596
  566
  529
  485
  437
  387
  337
  288
  241
  198
  159
  125
  96
  73
  53
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company's segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense. The EMS segment manufactures and sells elastomeric material solutions for critical cushioning, sealing, impact protection and vibration management applications, including general industrial, portable electronics, consumer goods, automotive, construction and printing applications. The PES segment manufactures and sells ceramic substrate materials for power module applications, laminated bus bars for power inverter and interconnect applications, and micro-channel coolers. Its other business consists of elastomeric components.

FINANCIAL RATIOS  of  Rogers (ROG)

Valuation Ratios
P/E Ratio 59.5
Price to Sales 4.4
Price to Book 4.5
Price to Tangible Book
Price to Cash Flow 24.4
Price to Free Cash Flow 28.8
Growth Rates
Sales Growth Rate 2.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -28%
Cap. Spend. - 3 Yr. Gr. Rate 1.1%
Financial Strength
Quick Ratio 57
Current Ratio 0.1
LT Debt to Equity 37.9%
Total Debt to Equity 38.5%
Interest Coverage 28
Management Effectiveness
Return On Assets 5%
Ret/ On Assets - 3 Yr. Avg. 5.5%
Return On Total Capital 5.8%
Ret/ On T. Cap. - 3 Yr. Avg. 6.8%
Return On Equity 7.9%
Return On Equity - 3 Yr. Avg. 8.3%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 38%
Gross Margin - 3 Yr. Avg. 37.7%
EBITDA Margin 18.8%
EBITDA Margin - 3 Yr. Avg. 17.3%
Operating Margin 12.8%
Oper. Margin - 3 Yr. Avg. 12.6%
Pre-Tax Margin 12.5%
Pre-Tax Margin - 3 Yr. Avg. 12%
Net Profit Margin 7.3%
Net Profit Margin - 3 Yr. Avg. 7.7%
Effective Tax Rate 41.5%
Eff/ Tax Rate - 3 Yr. Avg. 35.4%
Payout Ratio 0%

ROG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ROG stock intrinsic value calculation we used $656 million for the last fiscal year's total revenue generated by Rogers. The default revenue input number comes from 2016 income statement of Rogers. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ROG stock valuation model: a) initial revenue growth rate of 28% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ROG is calculated based on our internal credit rating of Rogers, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Rogers.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ROG stock the variable cost ratio is equal to 46.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $273 million in the base year in the intrinsic value calculation for ROG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Rogers.

Corporate tax rate of 27% is the nominal tax rate for Rogers. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ROG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ROG are equal to 43.3%.

Life of production assets of 12.5 years is the average useful life of capital assets used in Rogers operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ROG is equal to 20.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $636 million for Rogers - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 18.191 million for Rogers is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Rogers at the current share price and the inputted number of shares is $2.9 billion.

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COMPANY NEWS

▶ Rogers to Participate in Baird Global Industrial Conference   [Nov-07-17 01:12PM  Business Wire]
▶ Rogers Corp. posts 3Q profit   [Nov-02-17 04:43PM  Associated Press]
▶ Stocks To Watch: Schulman A Sees Relative Strength Rating Jump To 83   [Oct-11-17 03:00AM  Investor's Business Daily]
▶ IBD Rating Upgrades: Eastman Chemical Flashes Improved Price Strength   [Sep-20-17 03:00AM  Investor's Business Daily]
▶ Rogers to Participate in Drexel Hamilton TMT Conference   [Sep-05-17 08:53PM  Business Wire]
▶ ETFs with exposure to Rogers Corp. : August 17, 2017   [Aug-17-17 03:55PM  Capital Cube]
▶ Roundtable: 1 Dark Horse Stock I'm Watching   [Aug-01-17 05:21PM  Motley Fool]
▶ Rogers Corp. posts 2Q profit   [Jul-31-17 09:23PM  Associated Press]
▶ Roche earnings beat expectations slightly   [01:14AM  CNBC Videos]
▶ The 10 largest pharmaceutical companies in the world   [Jul-10-17 04:44PM  Business Insider]
▶ Celgene Enters PD1 Market with BeiGene Deal   [Jul-06-17 04:42PM  TheStreet.com]
▶ Rogers Corp. Value Analysis (NYSE:ROG) : June 30, 2017   [Jun-30-17 04:06PM  Capital Cube]
▶ Save the Date: Rogers to Host Investor Day August 17   [Jun-16-17 08:30AM  Business Wire]
▶ Roche drug study disappoints, shares sink 5% at open   [Jun-06-17 03:10AM  CNBC Videos]
▶ 3 Stocks With Wayfair-Like Return Potential   [Jun-05-17 08:33AM  Motley Fool]
▶ Stocks to watch during ASCO   [Jun-02-17 12:49PM  CNBC Videos]
▶ ETFs with exposure to Rogers Corp. : May 26, 2017   [May-26-17 01:25PM  Capital Cube]
▶ How Rogers Corp. Stock Rose 20% in April   [May-11-17 05:03PM  Motley Fool]
▶ Can The Uptrend Continue for Rogers (ROG)?   [May-09-17 04:41AM  Zacks]
▶ ETFs with exposure to Rogers Corp. : May 4, 2017   [May-04-17 04:16PM  Capital Cube]
▶ Why Rogers Corp. Soared Today   [Apr-27-17 04:16PM  Motley Fool]
▶ Rogers Corp. posts 1Q profit   [Apr-26-17 04:59PM  Associated Press]
▶ Rogers Corp. Value Analysis (NYSE:ROG) : April 21, 2017   [Apr-21-17 03:47PM  Capital Cube]
▶ Trump's big pharma impact   [Mar-30-17 05:47PM  CNBC Videos]
▶ Rogers Corp. posts 4Q profit   [07:36AM  Associated Press]
▶ Do Hedge Funds Love Rogers Corporation (ROG)?   [Dec-02-16 03:29AM  at Insider Monkey]
Financial statements of ROG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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