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ROP

Roper Technologies, Inc.

ROP

Roper Technologies, Inc. • NASDAQ
$446.22 ▲ 0.03% (+0.14)
Market Cap $48.03 B
52w High $595.17
52w Low $435.42
Dividend Yield 3.64%
P/E 30.77
Volume 328.34K
Outstanding Shares 107.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.018B ▲ $830M ▲ $398.5M ▲ 19.752% ▲ $3.71 ▲ $1.024B ▲
Q2-2025 $1.944B ▲ $797.1M ▲ $378.3M ▲ 19.464% ▲ $3.52 ▲ $787.4M ▲
Q1-2025 $1.883B ▲ $767.9M ▲ $331.1M ▼ 17.586% ▼ $3.083 ▼ $694M ▼
Q4-2024 $1.877B ▲ $757.6M ▲ $462.3M ▲ 24.628% ▲ $4.309 ▲ $872.6M ▲
Q3-2024 $1.765B $725.1M $367.9M 20.849% $3.432 $740.9M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $320M ▲ $34.584B ▲ $14.592B ▲ $19.993B ▲
Q2-2025 $242.4M ▼ $33.22B ▲ $13.586B ▲ $19.634B ▲
Q1-2025 $372.8M ▲ $31.419B ▲ $12.195B ▼ $19.224B ▲
Q4-2024 $188.2M ▼ $31.335B ▼ $12.467B ▼ $18.868B ▲
Q3-2024 $269.6M $31.553B $13.037B $18.515B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $398.5M ▲ $869.5M ▲ $-1.303B ▲ $514.1M ▼ $77.6M ▲ $857.9M ▲
Q2-2025 $378.3M ▲ $404.1M ▼ $-1.905B ▼ $1.348B ▲ $-130.4M ▼ $387.6M ▼
Q1-2025 $331.1M ▼ $528.7M ▼ $-146.8M ▼ $-207.8M ▲ $184.6M ▲ $519.2M ▼
Q4-2024 $462.3M ▲ $722.2M ▼ $59.7M ▲ $-832.2M ▼ $-81.4M ▼ $695.4M ▼
Q3-2024 $367.9M $755.4M $-1.641B $886.3M $18.1M $719.2M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Software And Related Services
Software And Related Services
 $5.42Bn ▲$2.91Bn ▼$2.98Bn ▲$3.17Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Roper’s income statement shows a business that has steadily grown and become more profitable over the past several years. Revenue has moved up consistently as the company has shifted further into software and technology-enabled businesses. Profitability has improved along the way, with gross and operating profits rising faster than sales, which suggests strong pricing power, good cost control, and the benefits of a more asset-light mix. Earnings per share have climbed each year, helped by both growth and expanding margins. The main watchpoint is that this performance is now coming from a higher-tech, software-heavy portfolio, so future trends will depend on how well Roper sustains growth in those niche software markets.

Balance Sheet

Balance Sheet The balance sheet reflects a large, acquisition-driven company with meaningful but manageable leverage. Total assets and shareholders’ equity have grown solidly over time, indicating value creation and retained earnings building up in the business. Debt remains significant but has generally trended lower relative to earlier years, which points to gradual de-risking after past acquisition waves. Cash on hand is relatively modest compared with total assets, implying reliance on ongoing cash generation and access to credit rather than large idle cash balances. Overall, the financial structure looks sound, but the company still depends on careful balance between debt, acquisitions, and cash flow discipline.

Cash Flow

Cash Flow Roper’s cash flow profile is a key strength. The company consistently converts a large portion of its profits into cash, with robust operating cash flow in most years and free cash flow that closely tracks it, thanks to relatively low capital spending needs. One recent year shows a notable dip in operating cash, likely tied to working capital swings or one-off items rather than a structural problem, given the quick recovery afterward. Capital expenditures are modest, consistent with a software- and data-driven model rather than heavy manufacturing. The main takeaway is that Roper generates ample, repeatable cash that can be used for debt service, acquisitions, and shareholder returns, but investors should still pay attention to any repeat of unusually weak cash conversion periods.

Competitive Edge

Competitive Edge Roper holds a strong competitive position built on owning many specialized, market-leading software and technology businesses. Its subsidiaries often dominate narrow niches—such as legal practice management, government contractor software, insurance agency platforms, and freight marketplaces—where deep industry know-how matters more than broad brand recognition. High switching costs are central to its moat: customers embed these systems into daily workflows, compliance processes, and data infrastructure, making it disruptive and risky to move to a rival. Many solutions are sold on recurring contracts, which supports sticky revenue and high renewal rates. On the risk side, Roper’s strategy depends on continuing to find and integrate high-quality acquisitions, and some end markets are sensitive to regulation or economic cycles, so maintaining this edge requires ongoing discipline and careful portfolio management.

Innovation and R&D

Innovation and R&D Innovation at Roper is decentralized and embedded within each operating company rather than driven by a single central lab. The group focuses on acquiring and nurturing vertical software and data businesses that already lead their niches, then supporting them to refine products, add features, and extend into adjacent workflows. Many platforms are moving deeper into analytics, automation, and, increasingly, artificial intelligence and machine learning to make customers’ operations smarter and more efficient. Because Roper emphasizes proven, profitable businesses over speculative R&D bets, its innovation style is more evolutionary than disruptive. This approach lowers technology risk but could mean Roper is more a fast follower and acquirer of innovation than an originator of entirely new categories, making deal selection and post-acquisition product investment especially important.

Summary

Overall, Roper looks like a high-quality, cash-generative compounder that has successfully transformed from an industrial tools and equipment background into a collection of niche, mission-critical software and technology franchises. The company shows steady revenue growth, rising margins, and strong free cash flow, all supported by a business mix with high switching costs and recurring revenue. The balance sheet carries meaningful debt but appears to be trending in a healthier direction as equity builds and cash generation remains strong. Key opportunities lie in further vertical software expansion, data and analytics enhancements, and disciplined acquisitions. Key uncertainties center on continued M&A discipline, integration execution, maintaining customer retention and pricing power, and managing leverage through different economic cycles.

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November 5, 2025 · 4:01 PM UTC

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November 5, 2025 · 2:00 PM UTC

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