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10-K annual report · filed Feb 24, 2025

Roper Technologies (ROP) FY2024 10-K Annual Report

ROP overviewOriginal on SEC EDGAR
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Roper Technologies (ROP) filed its fiscal 2024 10-K annual report with the SEC on Feb 24, 2025. It reported revenue of $7.0B (+13.9% year over year) and net income of $1.5B.

  • Top risk flagged: Regulatory risk from GDPR enforcement, with fines up to 4% of global revenue for non-compliance in EU and UK markets

FY2024 key financial metrics · XBRL

Revenue
$7.0B
+13.9% YoY
Net income
$1.5B
+11.9% YoY
Operating margin
28.4%
+0.1 pp YoY
Gross margin
69.3%
−0.4 pp YoY
EPS (diluted)
$14.35
+11.3% YoY
ROE
8.2%
+0.3 pp YoY
Operating cash flow
$2.4B
+17.6% YoY

Source: XBRL data from the Roper Technologies (ROP) FY2024 10-K on SEC EDGAR. USD.

Roper Technologies FY2024 10-K analysis

AI summary of each section, grounded in the filing text

Business Overview

  • Core business model: Diversified technology company focused on vertical software and tech-enabled products for defensible niche markets
  • New acquisitions in 2024: Procare for early childhood education SaaS and Transact Campus for campus payment tech, augmenting Application Software segment
  • Strategic divestiture: Majority equity stake of Indicor industrial businesses sold to CD&R in Nov 2022; retained minority interest
  • Financial scale: Application Software segment revenue $3,868.3M (55% of total), Network Software $1,475.6M (21%), Technology Enabled Products $1,695.3M (24%) for 2024
  • Noteworthy: $9,950M deployed on acquisitions over last 3 years, including $1,360M bolt-ons enhancing strategic positioning

Management Discussion & Analysis

  • Revenue $7,039.2M in 2024, up 13.9% YoY from $6,177.8M in 2023; organic growth 5.8% overall led by Application Software (5.6%) and Technology Enabled Products (9.3%)
  • Total operating margin 32.2% in 2024 vs 31.9% in 2023; Application Software margin 26.5% vs 25.8%, Network Software 45.2% vs 43.9%, Technology Enabled Products 33.9% vs 33.4%
  • Best segment: Network Software revenue $1,475.6M with 45.2% operating margin; worst: Application Software with gross margin decline to 68.4% from 68.9%
  • Operating cash flow $2,393.2M in 2024, up 17% YoY; investing cash outflow $3,468.5M mainly acquisitions; financing cash inflow $1,069.5M from $2B senior notes issuance; dividends paid, $500M notes repaid
  • 2025 outlook: tax rate 21%-22%, capital expenditures 1.0%-1.5% of revenue; risks include geopolitical/economic uncertainties, acquisition financing, and debt reduction pace

Risk Factors

  • Regulatory risk from GDPR enforcement, with fines up to 4% of global revenue for non-compliance in EU and UK markets
  • Geopolitical exposure: 14% net revenues from international, vulnerable to tariffs and export restrictions including US-China tensions
  • Supply chain risk due to reliance on sole source suppliers and third-party cloud platforms like AWS, Google Cloud, Microsoft Azure
  • Competitive risk from AI adoption; competitors may deploy superior AI-enabled products faster, impairing market position
  • Financial leverage with $7.6B total debt and $3.4B undrawn credit line; debt covenants could trigger default and restrict financial flexibility

Generated from the filing text; verify against the original. How to read a 10-K

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