The price-to-book (P/B) ratio is a financial metric used to compare a company's current market price to its book value per share. Book value is essentially the net asset value of a company, calculated as total assets minus intangible assets and liabilities. The P/B ratio indicates how much investors are willing to pay for each dollar of a company's book value. A lower P/B ratio might suggest an undervalued stock, while a higher ratio could indicate an overvalued stock or a company with significant intangible assets not reflected in its book value.[1]

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To determine if Rogers Communications Inc. (TSX: RCI.B) P/B ratio is reasonable within the industry, we need to first find its current P/B ratio and then compare it to the average P/B ratio of its peers in the telecommunications industry. As of September 4, 2025, financial data for Rogers Communications Inc. can be obtained from various financial data providers.

As of September 4, 2025, Rogers Communications Inc. (TSX: RCI.B) has a price-to-book (P/B) ratio of approximately 1.8x.[2]

To assess its reasonableness, we compare this to industry averages. The telecommunications industry typically has a wide range of P/B ratios due to varying capital structures, asset bases, and growth prospects of companies within the sector. However, a common range for established telecommunications companies can be between 1.5x and 3.0x. For instance, BCE Inc. (TSX: BCE), a major competitor, has a P/B ratio of around 1.7x, and Telus Corporation (TSX: T), another key player, has a P/B ratio of approximately 2.1x as of the same date.[3] [4]

Given these comparisons, Rogers Communications Inc.'s P/B ratio of 1.8x appears to be reasonable within the Canadian telecommunications industry. It falls within the typical range for its peers and is comparable to or slightly above some of its direct competitors, suggesting that its valuation relative to its book value is in line with industry norms. Factors that can influence a company's P/B ratio include its profitability, growth prospects, debt levels, and the market's perception of its future earnings potential.[5]