At a glance
Roper Technologies, Inc. is worth $47.49B, about 34 times its fiscal 2025 earnings. Revenue grew 12.3% to $7.90B in fiscal 2025, with 19.4% kept as profit; over 5 years it has grown 14.5% a year. It pays a 0.76% dividend yield, raised every year for at least 9 years, and returned $1.97B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +8.5% over the past year with dividends reinvested and +0.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 34.5% in the 2020 crash (S&P 500: 33.7%) and 25.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 10 months after the lows.
The business in plain English
Roper Technologies owns a group of businesses that sell specialized software and technology-based products into narrow "niche" markets. These include law firms, insurance agencies, K-12 schools, hospital laboratories and water utilities. Roper describes these markets as defensible, and its products are built into customers' critical daily work. It grows by selling more to existing customers and, above all, by buying new businesses. In November 2022 it sold a majority stake in its industrial businesses, now called Indicor, to Clayton, Dubilier & Rice. Roper kept a minority stake.
Revenue was about $7.9 billion for the year ended December 31, 2025. Application Software is the largest segment, at 56.7% of revenue. It includes Deltek (software for government contractors), Vertafore (insurance agencies), Aderant (law firms) and Procare (child care centers). Technology Enabled Products, at 23%, makes physical items such as Neptune water meters and Verathon airway and bladder-measurement devices for healthcare providers. Network Software, at 20.3%, runs online networks and marketplaces such as DAT, which matches freight brokers with carriers.
Much of the money repeats. For the same year, 56.7% of revenue was classed as recurring, meaning customers pay on an ongoing basis, for example through software subscriptions. Sales depend heavily on one country. The United States produced 87% of revenue, Europe 6.9% and Canada 3.7%.
Price history
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ROP +8.5% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Recurring | $4.48B | 56.7% |
| Product Revenue | $1.77B | 22.4% |
| Reoccurring | $833.1M | 10.5% |
| Non-recurring | $813.9M | 10.3% |
By business segment
| Application Software | $4.48B | 56.7% |
| Technology Enabled Products | $1.82B | 23% |
| Network Software | $1.60B | 20.3% |
By geography
| United States | $6.87B | 87% |
| Europe | $541.4M | 6.9% |
| Canada | $291.7M | 3.7% |
| Rest of the world | $125.5M | 1.6% |
| Asia | $71.1M | 0.9% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $2.17B, up 7.6% from a year earlier, and net income was $484.7M (+21.6%).
- For fiscal 2025, revenue was $7.90B (+12.3% year over year; +14.5% a year from FY2020 to FY2025) with a 19.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +14.5% good |
|---|---|
| Operating margin | 28.3% good |
| Return on equity (FY2025) | 7.7% weak |
| Return on assets (FY2025) | 4.4% watch |
| Net cash (cash minus debt) | $-9.41B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.02B | $949.7M | — |
| FY2021 | $4.83B | $1.15B | — |
| FY2022 | $5.37B | $4.54B | — |
| FY2023 | $6.18B | $1.38B | — |
| FY2024 | $7.04B | $1.55B | — |
| FY2025 | $7.90B | $1.54B | — |
Valuation snapshot
| Market value | $47.49B |
|---|---|
| P/E ratio | 33.8 |
| Dividend yield | 0.76% |
Rank among 1514 US companies
Market value at each year end
Roper Technologies’s market value went from $18.57B at the end of 2016 to $47.49B on Nov 2, 2026, about 2.6 times as much; since the end of 2025 it is down 1%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $47.49B | -0.9% |
| 2025 | $47.91B | -14.0% |
| 2024 | $55.74B | -4.3% |
| 2023 | $58.24B | +27.1% |
| 2022 | $45.82B | -11.7% |
| 2021 | $51.88B | +14.8% |
| 2020 | $45.21B | +22.7% |
| 2019 | $36.86B | +33.7% |
| 2018 | $27.57B | +4.0% |
| 2017 | $26.51B | +42.8% |
| 2016 | $18.57B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ROP price data to Nov 2, 2026 | +8.8% | +8.5% | -0.3% | +0.7% | +11.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.8% |
| 2025 | -13.8% |
| 2024 | -4.1% |
| 2023 | +26.9% |
| 2022 | -11.6% |
| 2021 | +14.7% |
| 2020 | +22.4% |
| 2019 | +33.7% |
| 2018 | +3.5% |
| 2017 | +42.4% |
| 2016 | -2.9% |
| 2015 | +22.1% |
| 2014 | +13.4% |
| 2013 | +24.9% |
| 2012 | +29.3% |
| 2011 | +14.3% |
| 2010 | +47.0% |
| 2009 | +21.5% |
| 2008 | -30.2% |
| 2007 | +25.1% |
| 2006 | +27.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 43.8% over that stretch · deepest drop along the way 50%, back to its old high 23 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.5% over that stretch · deepest drop along the way 34.5%, back to its old high 2.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 22.5% over that stretch · deepest drop along the way 25.8%, back to its old high 9.6 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 1 open-market purchases ($502K) and 6 sales ($9.9M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Oct 23, 2026 | Jason Conley EVP, Chief Financial Officer | sell | $4.4M |
| Jul 24, 2026 | Richard F Wallman Director | sell | $2.3M |
| Oct 26, 2026 | John K Stipancich EVP, Chief Legal Officer & Sec | sell | $1.6M |
| Jul 27, 2026 | John K Stipancich EVP, Chief Legal Officer & Sec | sell | $758K |
| Oct 23, 2026 | Jason Conley EVP, Chief Financial Officer | sell | $640K |
Who owns it
Large shareholders (13G filings)
| The WindAcre Partnership LLC | 8.55% | Jun 30, 2026 |
| Vanguard Capital Management | 7.63% | Mar 31, 2026 |
| Dodge & Cox | 7% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.67% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.1% | Jun 30, 2026 |
| T. Rowe Price Associates, Inc. | 4% | Jun 30, 2025 |
ETFs with the most weight in ROP
| PHO Invesco Water Resources ETF | 8.23% |
| PIO Invesco Global Water ETF | 8.04% |
| FIW First Trust Water ETF | 4.08% |
| QQLV Invesco QQQ Low Volatility ETF | 4.05% |
| AIVL WisdomTree U.S. AI Enhanced Value Fund | 3.25% |
| TDV ProShares S&P Technology Dividend Aristocrats ETF | 3.1% |
| SUPP TCW Transform Supply Chain ETF | 3.09% |
| TCAF T. Rowe Price Capital Appreciation Equity ETF | 2.92% |
What could go wrong
- Growth depends on buying companies. Roper's future growth relies heavily on acquisitions. It may not find suitable targets on acceptable terms, and the businesses it buys may be hard to integrate or may earn less than expected.
- Goodwill write-downs could hit earnings. Goodwill, the premium paid above the value of a bought company's assets, and other intangibles make up a large share of Roper's assets. If acquired businesses disappoint, writing them down would cut reported earnings.
- A large debt load. Total debt was about $11.3 billion as of June 30, 2026, against $365 million of cash and investments. Debt can limit flexibility, and a credit-rating downgrade could raise borrowing costs.
- AI brings legal and competitive risks. Roper is building AI into many products. Mismanaging it could cause legal or reputational harm, new rules could limit its use, and AI could disrupt markets that Roper's businesses serve.
- Cyberattacks or cloud outages. Roper's software depends on its own networks and on cloud providers such as Amazon Web Services and Microsoft Azure. A cyberattack or outage could disrupt customers, expose data and bring lawsuits or fines.
- Leftover stake in Indicor. Roper kept a minority stake in Indicor, its former industrial businesses, after selling control in November 2022. Weak performance there could hurt Roper's earnings outside its core operations.
Recent events
- Quarterly results released
- Executive or board change
- Item 5.04
- Quarterly results released
- Executive or board change; Shareholder vote results
- Quarterly results released
- Major agreement signed; Major agreement ended; New debt or financial obligation
- Quarterly results released
For income and retirement investors
Roper pays a small but steadily rising dividend. It has raised it at least 9 years in a row through 2025, and the record may go back further. Dividends per share grew from $2.10 in 2020 to $3.39 in 2025, about 10.1% a year, yet took only 23.1% of 2025 earnings. The yield was just 0.83% as of October 28, 2026, so the stock supplies little income. Roper also bought back $500 million of stock in 2025, and its share count fell 6.2% between July 2021 and July 2026.
In the 2008 financial crisis the shares fell 50% and took 23 months to recover. They dropped 34.5% in the 2020 COVID crash but regained their peak in about two months. They fell 25.8% in the 2022 bear market before recovering by July 2023. The largest peak-to-trough drop over the three years to October 28, 2026 was 46.5%. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Roper Technologies make money?
Mostly by selling specialized software to niche industries. In 2025, Application Software produced 56.7% of Roper's $7.9 billion in revenue, Technology Enabled Products 23.0% and Network Software 20.3%. Its businesses include Deltek for government contractors, Vertafore for property and casualty insurance, the DAT freight marketplace and Neptune water meters. About 57% of revenue was recurring, such as software subscriptions, and 87% came from the United States.
Does Roper Technologies raise its dividend every year?
Yes, so far. Roper has raised its dividend at least 9 years in a row through 2025, and the streak may be longer. Dividends per share rose from $2.10 in 2020 to $3.39 in 2025, about 10.1% a year. The payout is modest: dividends took 23.1% of 2025 earnings, and the yield was 0.83% as of October 28, 2026. Past increases do not guarantee future ones.
How has Roper stock performed over the long term?
Well over 10 years, poorly over five. As of October 28, 2026, the share price had gained about 10.8% a year over 10 years, or 179% in total. Over five years it lost about 1.3% a year, and over one year it lost 2.5%. The stock fell 4.1% in 2024 and 13.8% in 2025. These are price-based returns.
How much debt does Roper Technologies have?
About $11.3 billion as of June 30, 2026, against roughly $365 million of cash and investments. That leaves net debt, or debt minus cash, near $11.0 billion. Shareholders' equity was about $18.7 billion and total assets about $35.2 billion. Roper's 10-K warns that its debt may restrict its operating flexibility. It also warns that a credit-rating downgrade could raise its interest costs and limit its access to borrowing.
What is Roper's P/E ratio?
About 31 as of October 28, 2026, based on 2025 diluted earnings of $14.20 per share. The price-to-earnings ratio shows what buyers pay for each $1 of yearly profit, so here they paid about $31. Market value was about $43.6 billion. In 2025, revenue grew 12.3% but net income slipped 0.8%. The higher the P/E, the more the share price depends on growth continuing.