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US diversified technology holding company owning niche software and engineered-product businesses across many industries.
US diversified technology holding company owning niche software and engineered-product businesses across many industries.
Runs as a buyer of niche software firms, leaving each to operate independently while headquarters collects the cash and redeploys it into further purchases. It was an industrial manufacturer until a shift over the last decade that ended with the 2022 sale of its industrial businesses; most revenue now comes from subscriptions and maintenance.
Moat: wide (switching costs, scale, distribution). Portfolio of #1/#2 niche software franchises with sticky recurring revenue, run on a decentralized M&A model.
Headquarters: Sarasota, Florida, US · Founded: 1981 · Employees: 19,400
Size Roper Technologies (ROP) is a United States Information Technology company (Packaged Software) with a market value of $47.2B, the 268th largest of 3,117 United States companies the cockpit tracks. Shares closed at $476.60 on 6 Nov 2026.
Performance Over six months the shares gained 38.8%, against +0.2% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 9.2% over the last twelve months (peer median +25.4%); the operating margin is 28.1% (peer median 7.6%).
Valuation It trades at 19.7× forward earnings against a peer median of 25.6× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.2 points below its cost of capital (7.7% WACC).
Backlog Backlog (remaining performance obligations) was $5.43B at 30 Sep 2026, up 13% on a year earlier — 0.6 years of trailing revenue. Backlog detail →
Credit Roper Technologies has 12 bonds outstanding ($8.50B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 87 bp.
Short interest Short interest is 5.0% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $8.43B | $7.90B | $7.04B | $6.18B | $5.37B |
| Revenue growth | — | +12% | +14% | +15% | — |
| Gross profit | $5.88B | $5.47B | $4.88B | $4.31B | $3.75B |
| EBITDA | $3.29B | $3.13B | $2.81B | $2.50B | $2.17B |
| Net income | $2.59B | $1.54B | $1.55B | $1.36B | $1.19B |
| Free cash flow | $2.58B | $2.49B | $2.33B | $1.97B | $694M |
| Capital expenditure | $106M | $105M | $111M | $108M | $70.3M |
| Total debt | $9.72B | $9.53B | $7.82B | $6.53B | $6.87B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Roper Technologies ROP | $47.2B | +39% | +9% | 28% | 19.7× | 12.7% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
| Constellation Software CSU.TO | $53.3B | +37% | +17% | 16% | 19.7× | 11.2% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Fortive FTV | $19.5B | +8% | -22% | 20% | 20.0× | 17.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ROP | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +30.9% | -6.7% | highest of 21 |
| 6-month return | +38.8% | +0.2% | 2nd highest of 20 |
| Distance from 52-week high | -6.0% | -31.3% | 3rd highest of 21 |
| Revenue growth (TTM) | +9.2% | +25.4% | 4th lowest of 21 |
| Operating margin | 28.1% | 7.6% | 3rd highest of 21 |
| Forward P/E | 19.7× | 25.6× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 12.7% | 27.9% | 6th least demanding of 16 |
| Growth delivered (Del g) | +10.2% | +23.5% | 2nd lowest of 16 |
| Hurdle (Req g minus delivered) | +2.4 pp | +1.3 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | -1.2 pp | -4.5 pp | 9th highest of 21 |
| EV / EBITDA | 17.2× | 26.6× | 6th cheapest of 14 |
| Net debt / EBITDA | 2.9× | -0.0× | 4th most indebted of 20 |
| Bond spread | 87 bp | 100 bp | 5th tightest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Roper Technologies ROP | United States | $47.2B | +39% | +9% | 28% | 19.7× | 12.7% | +10.2% |
| Constellation Software CSU.TO | Canada | $53.3B | +37% | +17% | 16% | 19.7× | 11.2% | +25.0% |
| Autodesk ADSK | United States | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% | +13.7% |
| Dassault Systemes DSY.PA | France | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% | +7.0% |
| Atlassian TEAM | United States | $38.7B | +5% | +26% | 4% | 28.7× | 44.7% | +25.8% |
| NBIS NBIS | United States | $35.2B | -8% | +461% | -49% | n/a | n/a | n/a |
| Datadog DDOG | United States | $64.3B | -11% | +33% | 2% | 61.0× | n/a | n/a |
| Zscaler ZS | United States | $32.2B | +30% | +25% | -4% | 40.5× | 20.7% | +37.9% |
| Twilio TWLO | United States | $31.3B | 0% | +19% | 8% | 30.7× | 38.2% | +23.5% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 41.3× | 39.2% | +28.4% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 25.6× | 45.5% | +94.7% |
| Amadeus IT AMS.MC | Spain | $27.4B | +18% | +4% | 27% | 17.8× | 4.3% | +24.6% |
| Prosus PRX.AS | Netherlands | $83.9B | -3% | +45% | 3% | 10.1× | 55.8% | +13.8% |
| Z.AI Co., Ltd. -H- Reg S 2513.HK | Hong Kong | $26.5B | -56% | +132% | -272% | n/a | n/a | n/a |
| Zoom Communications ZM | United States | $26.2B | -18% | +5% | 24% | 14.7× | 5.8% | +12.9% |
| Synopsys SNPS | United States | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% | +13.9% |
| CoreWeave CRWV | United States | $25.6B | -59% | +115% | -3% | n/a | n/a | n/a |
| Cadence Design Systems CDNS | United States | $87.8B | -12% | +18% | 30% | 34.0× | 29.9% | +14.6% |
| MongoDB MDB | United States | $25.2B | +4% | +25% | -1% | 44.7× | 27.9% | +33.1% |
| Intuit INTU | United States | $91.3B | -14% | +14% | 29% | 14.8× | 3.1% | +17.4% |
| Samsara IOT | United States | $24.0B | +38% | +30% | 1% | 48.5× | n/a | n/a |
Roper Technologies has 12 bonds outstanding with $8.50B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.47%, a spread of 87 bp over government bonds.
Roper Technologies reported $5.43B of remaining performance obligations at 30 Sep 2026, up 13% from a year earlier and up 4% from the previous quarter. That is 0.6 years of trailing revenue already under contract. Book-to-bill last quarter: 1.09.