Roper Technologies announces 2025 financial results

Rhea-AI Summary

Roper Technologies (Nasdaq: ROP) reported FY 2025 results and initiated 2026 guidance. For FY 2025, revenue rose 12% to $7.90B (organic +5%, acquisition +7%), adjusted EBITDA increased 11% to $3.14B, and adjusted net earnings grew 9% to $2.16B. GAAP net earnings were $1.54B (down 1%) and GAAP DEPS was $14.20. Free cash flow rose 8% to $2.47B. Management deployed $3.3B on acquisitions and repurchased $500M of shares.

Roper expects FY 2026 adjusted DEPS of $21.30–$21.55, ~8% total revenue growth and organic growth of 5–6%; Q1 2026 adjusted DEPS guidance is $4.95–$5.00. Guidance excludes unannounced M&A and potential repurchases.

Positive

• Revenue +12% FY 2025 to $7.90B (organic +5%)
• Adjusted EBITDA +11% FY 2025 to $3.14B
• Adjusted net earnings +9% FY 2025 to $2.16B
• Adjusted DEPS guidance $21.30–$21.55 for FY 2026
• Free cash flow +8% FY 2025 to $2.47B

Negative

• GAAP net earnings FY 2025 down 1% to $1.54B
• GAAP DEPS FY 2025 down 1% to $14.20
• Q4 2025 GAAP net earnings down 7% to $428M
• Significant amortization of acquisition-related intangibles: $815M pretax FY 2025

Market Reaction

-6.05% $383.95

15m delay 6 alerts

-6.05% Since News

$383.95 Last Price

$383.25 $413.00 Day Range

-$2.83B Valuation Impact

$43.99B Market Cap

3K Volume

Following this news, ROP has declined 6.05%, reflecting a notable negative market reaction. Our momentum scanner has triggered 6 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $383.95. This price movement has removed approximately $2.83B from the company's valuation.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.

Key Figures

Q4 2025 revenue: $2.06 billion FY 2025 revenue: $7.90 billion FY 2025 GAAP net earnings: $1.54 billion +5 more

8 metrics

Q4 2025 revenue $2.06 billion Fourth quarter 2025; up 10% year over year

FY 2025 revenue $7.90 billion Full year 2025; up 12% year over year

FY 2025 GAAP net earnings $1.54 billion Full year 2025; decreased 1% year over year

FY 2025 adjusted net earnings $2.16 billion Full year 2025; increased 9% year over year

FY 2025 adjusted EBITDA $3.14 billion Full year 2025; increased 11% year over year

FY 2025 GAAP DEPS $14.20 Full year 2025; decreased 1% year over year

FY 2025 adjusted DEPS $20.00 Full year 2025; increased 9% year over year

2026 adjusted DEPS guidance $21.30–$21.55 Full year 2026 outlook range provided by company

Market Reality Check

Price: $408.67 Vol: Volume 1,518,407 is 1.54x...

high vol

$408.67 Last Close

Volume Volume 1,518,407 is 1.54x the 20-day average of 988,397, signaling elevated interest into earnings. high

Technical Shares at $408.67 trade below the 200-day MA of $511.07 and sit 31.34% below the 52-week high, only 2.4% above the 52-week low.

Peers on Argus

ROP’s modest 0.26% gain contrasts with mixed peers: strength in DDOG (+4.99%) an...

ROP’s modest 0.26% gain contrasts with mixed peers: strength in DDOG (+4.99%) and TEAM (+4.29%), smaller moves in ADSK (+0.71%) and WDAY (+0.23%), and weakness in PAYX (-0.87%). This points to a stock-specific reaction to earnings rather than a broad sector rotation.

Previous Earnings Reports

5 past events · Latest: Apr 28 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 28	Q1 2025 earnings	Positive	-1.0%	Q1 2025 revenue and adjusted earnings grew; 2025 guidance raised.
Jan 30	2024 full-year earnings	Positive	+5.1%	Strong 2024 revenue, EBITDA growth and higher 2025 adjusted DEPS outlook.
Oct 23	Q3 2024 earnings	Positive	-1.7%	Q3 2024 revenue and EPS grew; full-year guidance increased.
Jul 24	Q2 2024 earnings	Positive	-7.4%	Q2 2024 revenue, EBITDA and cash flow rose; adjusted DEPS outlook lifted.
Apr 26	Q1 2024 earnings	Positive	-2.5%	First-quarter 2024 results release with revenue and earnings detail.

Pattern Detected

Earnings releases have generally been positive fundamentally, but the stock has more often traded down or only modestly up in the following session, indicating frequent divergence between strong results/guidance and near-term price reaction.

Recent Company History

Over recent quarters, Roper’s earnings releases have repeatedly highlighted double‑digit revenue growth, rising adjusted EBITDA, and increasing adjusted DEPS, often accompanied by guidance raises and software acquisition activity. Despite this, four of the last five earnings-related events saw negative next‑day price moves, with only the Jan 30, 2025 2024‑results release producing a notable +5.08% gain. Today’s 2025 results and 2026 guidance fit the pattern of steady fundamental compounding against a more muted, sometimes skeptical, short‑term market response.

Historical Comparison

earnings

+3.5 %

Average Historical Move

Historical Analysis

Over the last five earnings releases, ROP’s average next‑day move was about ±3.53%. Today’s modest 0.26% pre‑news gain sits at the low end of past earnings reactions.

Typical Pattern

Earnings updates since <b>2024</b> have shown consistent double‑digit revenue growth, expanding adjusted EBITDA, and rising adjusted DEPS. Full‑year revenue grew from <b>$7.04 billion</b> in <b>2024</b> to <b>$7.90 billion</b> in <b>2025</b>, with adjusted DEPS moving from prior guidance around <b>$18.10–$18.25</b> to actual <b>$20.00</b>. The new <b>2026</b> adjusted DEPS outlook of <b>$21.30–$21.55</b> continues this gradual step‑up in the company’s earnings algorithm.

Market Pulse Summary

The stock is down -6.0% following this news. A negative reaction despite largely positive adjusted m...

Analysis

The stock is down -6.0% following this news. A negative reaction despite largely positive adjusted metrics would fit Roper’s history, where four of the last five earnings events led to next‑day declines even as revenue and adjusted DEPS rose. For 2025, revenue climbed to $7.90 billion and adjusted DEPS to $20.00, with 2026 guidance at $21.30–$21.55. Weakness could reflect focus on softer GAAP metrics or valuation concerns rather than a break in the company’s longer‑term compounding profile.

Key Terms

gaap, non-gaap, adjusted ebitda, free cash flow, +2 more

6 terms

gaap financial

"The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

non-gaap financial

"presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

adjusted ebitda financial

"Adjusted EBITDA increased 10% to $818 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

free cash flow financial

"free cash flow increased 4% to $714 million"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

operating cash flow financial

"Operating cash flow increased 2% to $738 million"

Operating cash flow is the amount of money a company earns from its main business activities, like selling products or services. It shows how well the company can generate cash to pay bills, invest in growth, or return money to shareholders. This figure helps investors understand if the company’s core operations are healthy and sustainable.

minority interest financial

"Following the sale of a majority stake in its industrial businesses to CD&R, Roper holds a minority interest in Indicor."

Minority interest represents the ownership share in a company held by investors or entities that do not control or have a majority of the company's voting rights. It shows the portion of the company's value that belongs to these smaller owners, similar to a partial stake in a shared ownership or partnership. For investors, understanding minority interest helps clarify how much of a company's value is attributable to outside owners, affecting overall financial health and decision-making.

AI-generated analysis. Not financial advice.

Initiates 2026 guidance

SARASOTA, Fla., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (Nasdaq: ROP) reported financial results for the fourth quarter and full year ended December 31, 2025.

Fourth quarter 2025 highlights

• Revenue increased 10% to $2.06 billion; acquisition contribution was +5% and organic revenue was +4%
• GAAP net earnings decreased 7% to $428 million; adjusted net earnings increased 8% to $561 million
• Adjusted EBITDA increased 10% to $818 million
• Operating cash flow increased 2% to $738 million; free cash flow increased 4% to $714 million
• GAAP DEPS decreased 7% to $3.97; adjusted DEPS increased 8% to $5.21
• Repurchased 1.12 million shares for $500 million
  
  

Full year 2025 highlights

• Revenue increased 12% to $7.90 billion; acquisition contribution was +7% and organic revenue was +5%
• GAAP net earnings decreased 1% to $1.54 billion; adjusted net earnings increased 9% to $2.16 billion
• Adjusted EBITDA increased 11% to $3.14 billion
• GAAP operating cash flow increased 6% to $2.54 billion; adjusted free cash flow increased 8% to $2.47 billion
• GAAP DEPS decreased 1% to $14.20; adjusted DEPS increased 9% to $20.00
  
  

"2025 was another clear demonstration of Roper’s durable long-term cash flow compounding model," said Neil Hunn, Roper Technologies’ President and CEO. "During the year, we delivered 12% total revenue growth, 11% EBITDA growth, and 8% free cash flow growth. Relative to our M&A strategy, we deployed $3.3 billion toward high-quality vertical software businesses, highlighted by CentralReach, Subsplash, and several bolt-on acquisitions. Additionally, we opportunistically repurchased 1.12 million shares for $500 million through our recently initiated share repurchase program."

2026 outlook and guidance

"Roper enters 2026 with a fundamentally stronger foundation, following meaningful enhancements last year to our leadership talent, AI technical capabilities, capital deployment discipline, and operating model. Additionally, we remain focused on accelerating innovation and commercialization to capture the significant AI opportunity across each of our businesses. We are also well positioned to continue deploying capital, with significant M&A capacity, a large pipeline of attractive acquisition opportunities, and the flexibility to utilize our share repurchase program. The combination of these factors will help fuel Roper's long-term growth algorithm for our shareholders," concluded Mr. Hunn.

Roper expects full year 2026 adjusted DEPS of $21.30 – $21.55 with total revenue growth of approximately 8% and organic revenue growth of +5 – 6%. For the first quarter of 2026, the Company expects adjusted DEPS of $4.95 – $5.00.

The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures, as well as potential share repurchases.

Conference call to be held at 8:00 AM (ET) today

A conference call to discuss these results has been scheduled for 8:00 AM ET on Tuesday, January 27, 2026. The call can be accessed via webcast or by dialing +1 800-836-8184 (US/Canada) or +1 646-357-8785, using conference call ID 38487. Webcast information and conference call materials will be made available in the Investors section of Roper’s website (www.ropertech.com) prior to the start of the call. The webcast can also be accessed directly by using the following URL https://event.webcast. Telephonic replays will be available for up to two weeks and can be accessed by dialing +1 646-517-4150 with access code 38487 #.

Use of non-GAAP financial information

The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.

Minority interest

Following the sale of a majority stake in its industrial businesses to CD&R, Roper holds a minority interest in Indicor. The fair value of Roper’s equity investment in Indicor is updated on a quarterly basis and reported as "equity investments gain, net." Roper makes non-GAAP adjustments for the impacts associated with this investment.

Table 1: Revenue and adjusted EBITDA reconciliation ($M)
		Q4 2024				Q4 2025				V %			FY 2024				FY 2025				V %
GAAP revenue		$	1,877			$	2,059			10	%		$	7,039			$	7,902			12	%
Components of revenue growth
Organic										4	%										5	%
Acquisitions										5	%										7	%
Foreign exchange										—	%										—	%
Revenue growth										10	%										12	%
Adjusted EBITDA reconciliation
GAAP net earnings		$	462			$	428						$	1,549			$	1,536
Taxes			128				106							418				400
Interest expense			71				93							259				325
Depreciation			9				10							37				40
Amortization			202				220							776				858
EBITDA		$	873			$	858			(2	)%		$	3,039			$	3,159			4	%
Restructuring-related expenses associated with the Transact acquisition			—				—							9				—
Transaction-related expenses for completed acquisitions			1				—							8				9
Financial impacts associated with minority investments			(141	)			(40	) A						(235	)			(25	) A
Legal settlement charge			11				—							11				—
Adjusted EBITDA		$	744			$	818			10	%		$	2,832			$	3,143			11	%
Adjusted EBITDA margin			39.6	%			39.7	%		+10 bps				40.2	%			39.8	%		(40 bps)

Table 2: Adjusted net earnings reconciliation ($M)
		Q4 2024				Q4 2025				V %			FY 2024				FY 2025				V %
GAAP net earnings		$	462			$	428			(7	)%		$	1,549			$	1,536			(1	)%
Restructuring-related expenses associated with the Transact acquisition			—				—							7				—
Transaction-related expenses for completed acquisitions			1				—							6				7
Financial impacts associated with minority investments			(105	)			(32	) A						(182	)			(24	) A
Legal settlement charge			9				—							9				—
Amortization of acquisition-related intangible assets			153				165	B						588				644	B
Adjusted net earnings C		$	520			$	561			8	%		$	1,978			$	2,163			9	%

Table 3: Adjusted DEPS reconciliation
		Q4 2024				Q4 2025				V %			FY 2024				FY 2025				V %
GAAP DEPS		$	4.28			$	3.97			(7	)%		$	14.35			$	14.20			(1	)%
Restructuring-related expenses associated with the Transact acquisition			—				—							0.07				—
Transaction-related expenses for completed acquisitions			0.01				—							0.06				0.06
Financial impacts associated with minority investments			(0.97	)			(0.30	) A						(1.68	)			(0.22	) A
Legal settlement charge			0.08				—							0.08				—
Amortization of acquisition-related intangible assets			1.41				1.53	B						5.45				5.95	B
Adjusted DEPS C		$	4.81			$	5.21			8	%		$	18.31			$	20.00			9	%

Table 4: Adjusted cash flow reconciliation ($M)
		Q4 2024				Q4 2025				V %			FY 2024				FY 2025				V %
Operating cash flow		$	722			$	738			2	%		$	2,393			$	2,540			6	%
Taxes paid in period related to divestiture			—				—							—				30
Adjusted operating cash flow		$	722			$	738			2	%		$	2,393			$	2,570			7	%
Capital expenditures			(27	)			(10	)						(66	)			(47	)
Capitalized software expenditures			(12	)			(14	)						(45	)			(57	)
Adjusted free cash flow		$	684			$	714			4	%		$	2,282			$	2,466			8	%

Table 5: Forecasted adjusted DEPS reconciliation
		Q1 2026								FY 2026
		Low End				High End				Low End				High End
GAAP DEPS D		$	3.42			$	3.47			$	15.20			$	15.45
Financial impacts associated with the minority investment in Indicor A		TBD				TBD				TBD				TBD
Amortization of acquisition-related intangible assets B			1.53				1.53				6.10				6.10
Adjusted DEPS C		$	4.95			$	5.00			$	21.30			$	21.55

Footnotes:

A.	Adjustments related to the financial impacts associated with the minority investment in Indicor as shown below ($M, except per share data). Forecasted results do not include any potential impacts associated with our minority investment in Indicor, as these potential impacts cannot be reasonably predicted. These impacts will be excluded from all non-GAAP results in future periods.
		Q4 2025A				FY 2025A					Q1 2026E				FY 2026E
	Pretax	$	(40	)		$	(25	)			TBD				TBD
	After-tax	$	(32	)		$	(24	)			TBD				TBD
	Per share	$	(0.30	)		$	(0.22	)			TBD				TBD
B.	Actual results and forecast of estimated amortization of acquisition-related intangible assets as shown below ($M, except per share data).
		Q4 2025A				FY 2025A					Q1 2026E				FY 2026E
	Pretax	$	208			$	815				$	208			$	833
	After-tax	$	165			$	644				$	164			$	658
	Per share	$	1.53			$	5.95				$	1.53			$	6.10
C.	All actual and forecasted non-GAAP adjustments are taxed at 21% with the exception of the financial impacts associated with minority investments.
D.	Forecasted GAAP DEPS do not include any potential impacts associated with our minority investment in Indicor. These impacts will be excluded from all non-GAAP results in future periods.

Note: Numbers may not foot due to rounding.

About Roper Technologies

Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.

Contact information:
Investor Relations
941-556-2601
investor-relations@ropertech.com

The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes," "intends" and similar words and phrases. These statements reflect management's current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, acquired businesses, including obtaining any required regulatory approvals with respect thereto, and our ability to develop, deploy, and use artificial intelligence in our platforms and offerings. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, including risks related to labor shortages and rising interest rates, changes in foreign exchange rates, risks related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs, risks associated with our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, armed hostilities, incidents of terrorism, public health crises (such as the COVID-19 pandemic) or natural disasters, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, including as a result of inflation and potential supply chain constraints, environmental compliance costs and liabilities, risks and cost associated with litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Roper Technologies, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(Amounts in millions)
		December 31, 2025				December 31, 2024
ASSETS:
Cash and cash equivalents		$	297.4			$	188.2
Accounts receivable, net			1,001.0				885.1
Inventories, net			141.7				120.8
Income taxes receivable			128.2				25.6
Unbilled receivables			124.0				127.3
Prepaid expenses and other current assets			235.8				195.7
Total current assets			1,928.1				1,542.7
Property, plant and equipment, net			156.9				149.7
Goodwill			21,341.2				19,312.9
Other intangible assets, net			9,764.2				9,059.6
Deferred taxes			73.3				54.1
Equity investment			796.3				772.3
Other assets			517.0				443.4
Total assets		$	34,577.0			$	31,334.7
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable		$	150.3			$	148.1
Accrued compensation			293.0				289.0
Deferred revenue			1,906.8				1,737.4
Other accrued liabilities			642.3				546.2
Income taxes payable			28.0				68.4
Current portion of long-term debt, net			705.2				1,043.1
Total current liabilities			3,725.6				3,832.2
Long-term debt, net of current portion			8,595.8				6,579.9
Deferred taxes			1,883.1				1,630.6
Other liabilities			491.0				424.4
Total liabilities			14,695.5				12,467.1
Common stock, 350.0 shares authorized; 109.3 shares issued and 106.6 outstanding at December 31, 2025 and 108.9 shares issued and 107.3 outstanding at December 31, 2024			1.1				1.1
Additional paid-in capital			3,292.2				3,014.6
Retained earnings			17,205.7				16,034.9
Accumulated other comprehensive loss			(101.4	)			(166.5	)
Treasury stock, 2.7 shares at December 31, 2025 and 1.6 shares at December 31, 2024			(516.1	)			(16.5	)
Total stockholders’ equity			19,881.5				18,867.6
Total liabilities and stockholders’ equity		$	34,577.0			$	31,334.7

Roper Technologies, Inc.
Condensed Consolidated Statements of Earnings (unaudited)
(Amounts in millions, except per share data)
		Three months ended December 31,								Year ended December 31,
			2025				2024				2025				2024
Net revenues		$	2,058.6			$	1,877.1			$	7,902.5			$	7,039.2
Cost of sales			628.7				594.8				2,430.5				2,160.9
Gross profit			1,429.9				1,282.3				5,472.0				4,878.3
Selling, general and administrative expenses			841.6				757.6				3,236.6				2,881.5
Income from operations			588.3				524.7				2,235.4				1,996.8
Interest expense, net			93.3				70.8				325.0				259.2
Equity investments gain, net			(40.4	)			(141.0	)			(25.5	)			(234.6	)
Other (income) expense, net			0.8				4.1				(0.2	)			5.0
Earnings before income taxes			534.6				590.8				1,936.1				1,967.2
Income taxes			106.2				128.5				399.8				417.9
Net earnings		$	428.4			$	462.3			$	1,536.3			$	1,549.3
Net earnings per share:
Basic		$	4.00			$	4.31			$	14.30			$	14.47
Diluted		$	3.97			$	4.28			$	14.20			$	14.35
Weighted average common shares outstanding:
Basic			107.2				107.3				107.4				107.1
Diluted			107.8				108.1				108.2				108.0

Roper Technologies, Inc.
Selected Segment Financial Data (unaudited)
(Amounts in millions; percentages of net revenues)
	Three months ended December 31,												Year ended December 31,
		2025						2024						2025						2024
	Amount			%			Amount			%			Amount			%			Amount			%
Net revenues:
Application Software	$	1,158.9					$	1,056.9					$	4,483.0					$	3,868.3
Network Software		426.1						373.5						1,600.8						1,475.6
Technology Enabled Products		473.6						446.7						1,818.7						1,695.3
Total	$	2,058.6					$	1,877.1					$	7,902.5					$	7,039.2
Gross profit:
Application Software	$	794.6		68.6	%		$	708.0		67.0	%		$	3,069.7		68.5	%		$	2,647.6		68.4	%
Network Software		362.5		85.1	%			318.9		85.4	%			1,345.8		84.1	%			1,254.8		85.0	%
Technology Enabled Products		272.8		57.6	%			255.4		57.2	%			1,056.5		58.1	%			975.9		57.6	%
Total	$	1,429.9		69.5	%		$	1,282.3		68.3	%		$	5,472.0		69.2	%		$	4,878.3		69.3	%
Operating profit*:
Application Software	$	308.7		26.6	%		$	272.9		25.8	%		$	1,203.1		26.8	%		$	1,023.4		26.5	%
Network Software		181.7		42.6	%			174.4		46.7	%			695.8		43.5	%			666.5		45.2	%
Technology Enabled Products		158.8		33.5	%			150.3		33.6	%			626.7		34.5	%			574.3		33.9	%
Total	$	649.2		31.5	%		$	597.6		31.8	%		$	2,525.6		32.0	%		$	2,264.2		32.2	%
* Segment operating profit is before unallocated corporate general and administrative expenses and enterprise-wide stock-based compensation. These expenses were $60.9 and $72.9 for the three months ended December 31, 2025 and 2024, respectively, and $290.2 and $267.4 for the twelve months ended December 31, 2025 and 2024, respectively.

Roper Technologies, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
(Amounts in millions)
		Year ended December 31,
			2025				2024
Cash flows from operating activities:
Net earnings		$	1,536.3			$	1,549.3
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment			39.8				37.1
Amortization of intangible assets			858.4				775.7
Amortization of deferred financing costs			11.8				9.8
Non-cash stock compensation			166.3				145.9
Equity investments gain, net			(25.5	)			(234.6	)
Income tax provision			399.8				417.9
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable			(90.3	)			14.4
Unbilled receivables			9.8				(18.5	)
Inventories			(18.7	)			(1.9	)
Prepaid expenses and other current assets			(36.0	)			(19.5	)
Accounts payable			(3.9	)			(13.0	)
Other accrued liabilities			17.1				109.3
Deferred revenue			124.7				110.7
Cash taxes paid for gain on disposal of equity investment			(30.2	)			—
Cash income taxes paid, excluding tax associated with gain on disposal of equity investment			(384.0	)			(483.8	)
Other, net			(35.1	)			(5.6	)
Cash provided by operating activities			2,540.3				2,393.2
Cash flows from (used in) investing activities:
Acquisitions of businesses, net of cash acquired			(3,290.0	)			(3,612.9	)
Capital expenditures			(47.4	)			(66.0	)
Capitalized software expenditures			(57.3	)			(45.0	)
Distributions from equity investment			5.1				10.8
Proceeds from sale of equity investment			—				245.6
Other, net			1.6				(1.0	)
Cash used in investing activities			(3,388.0	)			(3,468.5	)
Cash flows from (used in) financing activities:
Proceeds from senior notes			2,000.0				2,000.0
Payments of senior notes			(1,000.0	)			(500.0	)
Borrowings (payments) under revolving line of credit, net			725.0				(235.0	)
Debt issuance costs			(19.4	)			(24.6	)
Cash dividends to stockholders			(355.0	)			(321.9	)
Treasury stock sales			22.4				18.5
Repurchases of common stock			(500.0	)			—
Proceeds from stock-based compensation, net			88.8				88.6
Other, net			(38.2	)			43.9
Cash provided by financing activities			923.6				1,069.5
(Continued)
Roper Technologies, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited) – Continued
(Amounts in millions)
		Year ended December 31,
			2025				2024
Effect of exchange rate changes on cash			33.3				(20.3	)
Net increase (decrease) in cash and cash equivalents			109.2				(26.1	)
Cash and cash equivalents, beginning of year			188.2				214.3
Cash and cash equivalents, end of year		$	297.4			$	188.2

FAQ

What were Roper (ROP) full-year 2025 revenue and organic growth?

Roper reported FY 2025 revenue of $7.90B with organic growth of 5%.

How much did Roper (ROP) repurchase in share buybacks in 2025?

Roper repurchased 1.12 million shares for $500 million in 2025.

What is Roper's (ROP) FY 2026 adjusted DEPS guidance and revenue growth outlook?

Roper expects FY 2026 adjusted DEPS of $21.30–$21.55 and ~8% total revenue growth (organic 5–6%).

What were Roper's (ROP) free cash flow and adjusted EBITDA in FY 2025?

FY 2025 adjusted EBITDA was $3.14B and adjusted free cash flow was $2.47B.

How did Roper's (ROP) GAAP earnings per share change in 2025?

GAAP DEPS for FY 2025 decreased to $14.20, down 1% year-over-year.

Does Roper's (ROP) 2026 guidance include future acquisitions or Indicor impacts?

No; the guidance excludes impacts from unannounced acquisitions, divestitures, potential repurchases, and excludes unpredictable Indicor minority investment impacts.