Roper Technologies announces third quarter financial results
• Revenue increased 8% to $2.17 billion; organic revenue was +7% and acquisition contribution was +1%
• GAAP net earnings increased 22% to $485 million; adjusted net earnings increased 5% to $586 million
• GAAP DEPS increased 33% to $4.88; adjusted DEPS increased 15% to $5.89 "Roper delivered another solid quarter, with 8% total revenue growth, 7% organic revenue growth, 7% EBITDA growth, and 15% adjusted DEPS growth. During the quarter, we deployed $436 million toward three bolt-on acquisitions for our iPipeline, Procare, and Strata businesses, and we received $1.2 billion in proceeds from Indicor's sale of its instrumentation businesses," said Neil Hunn, Roper Technologies' President and CEO.
"This quarter, our businesses again brought several AI launches to market, highlighted by PowerPlan, Strata, and Vertafore. We are embedding agentic solutions directly into the workflows our customers rely on every day, and we are also evolving how we build, with smaller teams closer to customers and increasingly agentic development processes. Given the depth of our customer relationships, our proprietary and unique data sets, and our embedded position inside mission-critical workflows, we are well positioned to create value for customers with AI. We are laser focused on scaling adoption while continuing to accelerate innovation."
"Driven by third quarter adjusted DEPS that exceeded our expectations, we are raising our full year adjusted DEPS guidance. With more than $6 billion of capital deployment capacity, we will continue allocating capital with discipline to drive free cash flow per share compounding for our shareholders," concluded Mr. Hunn.
Roper now expects full year 2026 adjusted DEPS of $22.35 - $22.40, compared to previous guidance of $22.15 - $22.30.
For the fourth quarter of 2026, the Company expects adjusted DEPS of $5.95 - $6.00.
The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures, proceeds from Indicor's pending divestiture of its Cornell Pump and Roper Pump businesses, as well as potential share repurchases. 1
A conference call to discuss these results has been scheduled for 8:00 AM ET on Thursday, October 22, 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 80101. 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 80101 #.
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.
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 investment (gain) loss, net." Roper makes non-GAAP adjustments for the impacts associated with this investment. 2
Table 1: Revenue and adjusted EBITDA reconciliation ($M) Q3 2025 Q3 2026 V % ────────────────────────────────────────────────────────────────────────────── GAAP revenue $ 2,017 $ 2,172 8 % Components of revenue growth Organic 7 % Acquisitions 1 % Foreign exchange — % Total revenue growth 8 % Adjusted EBITDA reconciliation GAAP net earnings $ 398 $ 485 Taxes 100 87 Interest expense 90 107 Depreciation 10 10 Amortization 221 225 EBITDA $ 819 $ 914 12 % Transaction-related expenses for 4 6 completed acquisitions Financial impacts associated with -13 -56 A minority investments Adjusted EBITDA $ 810 $ 864 7 % Adjusted EBITDA 40.2 % 39.8 % -40 bps margin
Table 2: Adjusted net earnings reconciliation ($M) Q3 2025 Q3 2026 V % ────────────────────────────────────────────────────────────────────────────── GAAP net earnings $ 398 $ 485 22 % Transaction-related expenses for 3 5 completed acquisitions Financial impacts associated with -10 -71 A minority investments Amortization of acquisition-related 165 167 B intangible assets Adjusted net earningsC $ 557 $ 586 5 %
Table 3: Adjusted DEPS reconciliation Q3 2025 Q3 2026 V % ────────────────────────────────────────────────────────────────────────────── GAAP DEPS $ 3.68 $ 4.88 33 % Transaction-related expenses for 0.03 0.05 completed acquisitions Financial impacts associated with -0.09 -0.71 A minority investments Amortization of acquisition-related 1.53 1.68 B intangible assets Adjusted DEPSC $ 5.14 $ 5.89 15 %
Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 500. 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@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 volatile 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 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) September 30, December 31, ASSETS: 2026 2025 ────────────────────────────────────────────────────────────────────────────── Cash and cash $ 311.0 $ 297.4 equivalents Accounts 981.1 1,001.0 receivable, net Inventories, 153.3 141.7 net Income taxes 56.7 128.2 receivable Unbilled 152.6 124.0 receivables Prepaid expenses and 291.6 235.8 other current assets Total current 1,946.3 1,928.1 assets Property, plant and equipment, 158.4 156.9 net Goodwill 21,555.0 21,341.2 Other intangible 9,455.7 9,764.2 assets, net Deferred taxes 69.0 73.3 Equity 577.0 796.3 investment Other assets 576.9 517.0 Total assets $ 34,338.3 $ 34,577.0 LIABILITIES AND STOCKHOLDERS’ EQUITY: Accounts $ 176.3 $ 150.3 payable Accrued 288.9 293.0 compensation Deferred 1,889.3 1,906.8 revenue Other accrued 590.1 642.3 liabilities Income taxes 211.5 28.0 payable Current portion of long-term 1,415.1 705.2 debt, net Total current 4,571.2 3,725.6 liabilities Long-term debt, net of current 8,304.6 8,595.8 portion Deferred taxes 1,785.2 1,883.1 Other 504.7 491.0 liabilities Total 15,165.7 14,695.5 liabilities Common stock, 350.0 shares authorized; 109.5 shares issued and 99.0 outstanding at September 1.1 1.1 30, 2026 and 109.3 shares issued and 106.6 outstanding at December 31, 2025 Additional 3,473.3 3,292.2 paid-in capital Retained 19,091.2 17,205.7 earnings Accumulated other -138.2 -101.4 comprehensive loss Treasury stock, 10.5 shares at September 30, 2026 and -3,254.8 -516.1 2.7 shares at December 31, 2025 Total stockholders’ 19,172.6 19,881.5 equity Total liabilities and $ 34,338.3 $ 34,577.0 stockholders’ equity
Roper Technologies, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (Amounts in millions) Nine months ended Cash flows from September 30, operating activities: 2026 2025 ────────────────────────────────────────────────────────────────────────────── Net earnings $ 2,162.1 $ 1,107.9 Adjustments to reconcile net earnings to cash flows from operating activities: Depreciation and amortization of 30.4 29.9 property, plant and equipment Amortization of 666.3 638.0 intangible assets Amortization of deferred financing 9.3 8.6 costs Non-cash stock 163.9 128.7 compensation Equity investment -1,058.7 14.9 (gain) loss, net Income tax provision 353.0 293.6 Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable 22.9 -0.5 Unbilled receivables -28.2 -7.2 Inventories -12.6 -18.2 Prepaid expenses and other current -48.7 -27.9 assets Accounts payable 26.2 13.2 Other accrued -57.2 -48.9 liabilities Deferred revenue -36.9 28.5 Cash taxes paid for gain on disposal of — -30.2 equity investment Cash income taxes paid, excluding tax associated with gain -283.7 -307.6 on disposal of equity investment Other, net -25.9 -20.5 Cash provided by 1,882.2 1,802.3 operating activities Cash flows from (used in) investing activities: Acquisitions of businesses, net of -463.2 -3,280.4 cash acquired Capital expenditures -35.4 -37.6 Capitalized software -46.8 -42.8 expenditures Distributions from 6.7 5.1 equity investment Proceeds from Indicor 1,239.2 — transaction Cash receipts on beneficial interest in 15.2 — sold receivables Other, net 0.3 1.7 Cash provided by (used in) investing 716.0 -3,354.0 activities Cash flows from (used in) financing activities: Proceeds from senior — 2,000.0 notes Payments of senior — -700.0 notes Borrowings under revolving credit 400.0 585.0 facility, net Debt issuance costs -3.9 -19.5 Cash dividends to -281.4 -266.0 stockholders Repurchases of common -2,726.7 — stock Proceeds from stock-based 19.3 79.4 compensation, net Treasury stock sales under employee 12.7 17.4 stock purchase plan Other, net 9.1 -42.0 Cash provided by (used in) financing -2,570.9 1,654.3 activities Effect of exchange -13.7 29.2 rate changes on cash Net increase in cash and cash 13.6 131.8 equivalents Cash and cash equivalents, beginning 297.4 188.2 of period Cash and cash equivalents, end of $ 311.0 $ 320.0 period
Full text with the tables
Roper Technologies announces third quarter financial results
Increases full year DEPS guidance
Sarasota, Florida, October 22, 2026 ... Roper Technologies, Inc. (Nasdaq: ROP)
reported financial results for the third quarter ended September 30, 2026.
Third quarter 2026 highlights
• Revenue increased 8% to $2.17 billion; organic revenue was +7% and acquisition
contribution was +1%
• GAAP net earnings increased 22% to $485 million; adjusted net earnings
increased 5% to $586 million
• Adjusted EBITDA increased 7% to $864 million
• GAAP DEPS increased 33% to $4.88; adjusted DEPS increased 15% to $5.89
"Roper delivered another solid quarter, with 8% total revenue growth, 7% organic
revenue growth, 7% EBITDA growth, and 15% adjusted DEPS growth. During the
quarter, we deployed $436 million toward three bolt-on acquisitions for our
iPipeline, Procare, and Strata businesses, and we received $1.2 billion in
proceeds from Indicor's sale of its instrumentation businesses," said Neil Hunn,
Roper Technologies' President and CEO.
"This quarter, our businesses again brought several AI launches to market,
highlighted by PowerPlan, Strata, and Vertafore. We are embedding agentic
solutions directly into the workflows our customers rely on every day, and we
are also evolving how we build, with smaller teams closer to customers and
increasingly agentic development processes. Given the depth of our customer
relationships, our proprietary and unique data sets, and our embedded position
inside mission-critical workflows, we are well positioned to create value for
customers with AI. We are laser focused on scaling adoption while continuing to
accelerate innovation."
"Driven by third quarter adjusted DEPS that exceeded our expectations, we are
raising our full year adjusted DEPS guidance. With more than $6 billion of
capital deployment capacity, we will continue allocating capital with discipline
to drive free cash flow per share compounding for our shareholders," concluded
Mr. Hunn.
Increasing 2026 guidance
Roper now expects full year 2026 adjusted DEPS of $22.35 - $22.40, compared to
previous guidance of $22.15 - $22.30.
For the fourth quarter of 2026, the Company expects adjusted DEPS of $5.95 -
$6.00.
The Company’s guidance excludes the impact of unannounced future acquisitions or
divestitures, proceeds from Indicor's pending divestiture of its Cornell Pump
and Roper Pump businesses, as well as potential share repurchases.
1
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
Thursday, October 22, 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 80101.
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 80101 #.
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
investment (gain) loss, net." Roper makes non-GAAP adjustments for the impacts
associated with this investment.
2
Table 1: Revenue and
adjusted EBITDA
reconciliation ($M) Q3 2025 Q3 2026 V %
──────────────────────────────────────────────────────────────────────────────
GAAP revenue $ 2,017 $ 2,172 8 %
Components of revenue
growth
Organic 7 %
Acquisitions 1 %
Foreign exchange — %
Total revenue growth 8 %
Adjusted EBITDA
reconciliation
GAAP net earnings $ 398 $ 485
Taxes 100 87
Interest expense 90 107
Depreciation 10 10
Amortization 221 225
EBITDA $ 819 $ 914 12 %
Transaction-related
expenses for 4 6
completed
acquisitions
Financial impacts
associated with -13 -56 A
minority investments
Adjusted EBITDA $ 810 $ 864 7 %
Adjusted EBITDA 40.2 % 39.8 % -40 bps
margin
Table 2: Adjusted net earnings
reconciliation ($M) Q3 2025 Q3 2026 V %
──────────────────────────────────────────────────────────────────────────────
GAAP net earnings $ 398 $ 485 22 %
Transaction-related expenses
for 3 5
completed acquisitions
Financial impacts associated
with -10 -71 A
minority investments
Amortization of
acquisition-related 165 167 B
intangible assets
Adjusted net earningsC $ 557 $ 586 5 %
3
Table 3: Adjusted DEPS
reconciliation Q3 2025 Q3 2026 V %
──────────────────────────────────────────────────────────────────────────────
GAAP DEPS $ 3.68 $ 4.88 33 %
Transaction-related expenses
for 0.03 0.05
completed acquisitions
Financial impacts associated
with -0.09 -0.71 A
minority investments
Amortization of
acquisition-related 1.53 1.68 B
intangible assets
Adjusted DEPSC $ 5.14 $ 5.89 15 %
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5
About Roper Technologies
Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 500.
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 volatile 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 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.
# # #
6
Roper
Technologies,
Inc.
Condensed
Consolidated
Balance Sheets
(unaudited)
(Amounts in
millions) September 30, December 31,
ASSETS: 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash and cash $ 311.0 $ 297.4
equivalents
Accounts 981.1 1,001.0
receivable, net
Inventories, 153.3 141.7
net
Income taxes 56.7 128.2
receivable
Unbilled 152.6 124.0
receivables
Prepaid
expenses and 291.6 235.8
other current
assets
Total current 1,946.3 1,928.1
assets
Property, plant
and equipment, 158.4 156.9
net
Goodwill 21,555.0 21,341.2
Other
intangible 9,455.7 9,764.2
assets, net
Deferred taxes 69.0 73.3
Equity 577.0 796.3
investment
Other assets 576.9 517.0
Total assets $ 34,338.3 $ 34,577.0
LIABILITIES AND
STOCKHOLDERS’
EQUITY:
Accounts $ 176.3 $ 150.3
payable
Accrued 288.9 293.0
compensation
Deferred 1,889.3 1,906.8
revenue
Other accrued 590.1 642.3
liabilities
Income taxes 211.5 28.0
payable
Current portion
of long-term 1,415.1 705.2
debt, net
Total current 4,571.2 3,725.6
liabilities
Long-term debt,
net of current 8,304.6 8,595.8
portion
Deferred taxes 1,785.2 1,883.1
Other 504.7 491.0
liabilities
Total 15,165.7 14,695.5
liabilities
Common stock,
350.0 shares
authorized;
109.5 shares
issued and 99.0
outstanding
at September 1.1 1.1
30, 2026 and
109.3 shares
issued and
106.6
outstanding at
December
31, 2025
Additional 3,473.3 3,292.2
paid-in capital
Retained 19,091.2 17,205.7
earnings
Accumulated
other -138.2 -101.4
comprehensive
loss
Treasury stock,
10.5 shares at
September
30, 2026 and -3,254.8 -516.1
2.7 shares at
December 31,
2025
Total
stockholders’ 19,172.6 19,881.5
equity
Total
liabilities and $ 34,338.3 $ 34,577.0
stockholders’
equity
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Roper Technologies,
Inc.
Condensed Consolidated
Statements of Cash
Flows (unaudited)
(Amounts in millions) Nine months ended
Cash flows from September 30,
operating activities: 2026 2025
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Net earnings $ 2,162.1 $ 1,107.9
Adjustments to
reconcile net earnings
to
cash flows from
operating activities:
Depreciation and
amortization of 30.4 29.9
property, plant and
equipment
Amortization of 666.3 638.0
intangible assets
Amortization of
deferred financing 9.3 8.6
costs
Non-cash stock 163.9 128.7
compensation
Equity investment -1,058.7 14.9
(gain) loss, net
Income tax provision 353.0 293.6
Changes in operating
assets and
liabilities, net of
acquired businesses:
Accounts receivable 22.9 -0.5
Unbilled receivables -28.2 -7.2
Inventories -12.6 -18.2
Prepaid expenses and
other current -48.7 -27.9
assets
Accounts payable 26.2 13.2
Other accrued -57.2 -48.9
liabilities
Deferred revenue -36.9 28.5
Cash taxes paid for
gain on disposal of — -30.2
equity investment
Cash income taxes
paid, excluding tax
associated with gain -283.7 -307.6
on disposal of
equity investment
Other, net -25.9 -20.5
Cash provided by 1,882.2 1,802.3
operating activities
Cash flows from (used
in) investing
activities:
Acquisitions of
businesses, net of -463.2 -3,280.4
cash
acquired
Capital expenditures -35.4 -37.6
Capitalized software -46.8 -42.8
expenditures
Distributions from 6.7 5.1
equity investment
Proceeds from Indicor 1,239.2 —
transaction
Cash receipts on
beneficial interest in 15.2 —
sold receivables
Other, net 0.3 1.7
Cash provided by (used
in) investing 716.0 -3,354.0
activities
Cash flows from (used
in) financing
activities:
Proceeds from senior — 2,000.0
notes
Payments of senior — -700.0
notes
Borrowings under
revolving credit 400.0 585.0
facility, net
Debt issuance costs -3.9 -19.5
Cash dividends to -281.4 -266.0
stockholders
Repurchases of common -2,726.7 —
stock
Proceeds from
stock-based 19.3 79.4
compensation,
net
Treasury stock sales
under employee 12.7 17.4
stock purchase plan
Other, net 9.1 -42.0
Cash provided by (used
in) financing -2,570.9 1,654.3
activities
Effect of exchange -13.7 29.2
rate changes on cash
Net increase in cash
and cash 13.6 131.8
equivalents
Cash and cash
equivalents, beginning 297.4 188.2
of
period
Cash and cash
equivalents, end of $ 311.0 $ 320.0
period
10