Rogers Communications (TSX: RCI.B) isn’t just one of the most popular stocks on the TSX; it’s also one of the best-known brands across Canada.
The $27 billion company plays a critical and unique role in the country’s telecom landscape, with exposure to wireless, cable, and a massive media business that sets it apart from its peers.
Despite how large and dominant Rogers is, investors still have plenty of questions about the stock heading into the rest of 2026. That’s especially true after all the investment Rogers and its peers have made in recent years to build out fibre and 5G infrastructure.
So, it’s no surprise investors want to know whether the business can execute well enough to deliver steady cash flow, improve efficiency, and justify owning the stock as a long-term holding.
Telecom stocks have the potential to be some of the best dividend growth stocks on the market. They own long-life assets, provide essential services, generate predictable revenue, and often benefit from pricing power and long-term growth as population and technology continue to expand.
However, the industry has also faced real challenges. A costly 5G arms race, followed by a period of higher interest rates, has weighed on profitability for capital-intensive companies like Rogers that rely heavily on debt.
So, with that in mind, let’s take a closer look at how Rogers Communications stock is positioned to start 2026 and whether it’s worth buying today.
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How Rogers Communications stock is positioned for the long haul
Rogers continues to be positioned as a high-quality long-term business, largely because its operations don’t change all that much from year to year.
It’s one of the largest telecom companies in Canada, and the most important part of the business is its wireless segment, which remains the biggest driver of both revenue and profitability.
Like its telecom stock peers, Rogers Communications is operating in a highly competitive environment. Pricing pressure, promotional activity, and shifts in subscriber growth can all weigh on results.
At the same time, wireless remains an essential service, and demand for connectivity continues to grow over the long haul. People aren’t using less data, and that trend isn’t changing anytime soon.
Beyond wireless, Rogers also has a sizable cable business, offering services like internet and television.
What really sets Rogers apart, though, is its media exposure. Through its ownership of sports and media assets, Rogers has another lever it can pull to support revenue growth and customer engagement.
This part of the business can be more volatile and seasonal, but it’s valuable for more than just profits; it’s also valuable for the cross-selling opportunity that it provides. Rogers is consistently promoting its services across its media platforms.
What analysts will be watching heading into 2026
Although Rogers’ core operations don’t change much from year to year, the environment around the business does, and that’s often what impacts the stock the most.
After several years of heavy investment by telecom companies to build out new infrastructure, 2026 is shaping up to be a year when analysts will be looking closely for meaningful free cash flow growth as capital spending begins to decline.
With the Shaw acquisition now fully integrated and Rogers Communications continuing to look for synergies and margin improvements, investors will also be watching how much free cash flow the stock can ultimately generate.
Just as important will be what Rogers does with that excess cash after paying its dividend, which currently yields 3.9%, especially since debt reduction remains a key priority.
From an operating standpoint, analysts currently expect Rogers to grow revenue by about 4.6% in 2026, while earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected to increase by roughly 2.3% for the year.
Because of that, 2026 looks more like a transition year for Rogers. Investors will want to see how much free cash flow the business can actually produce and whether management uses it primarily to reduce debt or pursue smaller tuck-in acquisitions.
So while Rogers Communications is a stock you can buy for its near-4% dividend yield and long-term potential, 2026 doesn’t look like a year with a wealth of meaningful growth catalysts.
