ROPER TECHNOLOGIES INC (ROP)

How they make money

ITEM 1. BUSINESS All currency amounts are in millions unless specified Our Business Roper Technologies, Inc. (“Roper,” the “Company,” “we,” “our,” or “us”) is a diversified technology company. Roper has a proven, long-term, successful track record of compounding cash flow and increasing shareholder value. We operate market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. We pursue consistent and sustainable growth in revenue, earnings, and cash flow by enabling continuous improvement in the operating performance of our businesses and by acquiring businesses that offer high value-added software, services, tⓘ

Revenue mix

esiso4217:USDxbrli:sharesxbrli:purerop:reporting_unitrop:acquisitionrop:planrop:segment00008828352025-01-012025-12-3100008828352025-06-3000008828352026-02-2000008828352025-12-3100008828352024-12-3100008828352024-01-012024-12-3100008828352023-01-012023-12-310000882835us-gaap:CommonStockMember2022-12-310000882835us-gaap:AdditionalPaidInCapitalMember2022-12-310000882835us-gaap:RetainedEarningsMember2022-12-310000882835us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000882835us-gaap:TreasuryStockCommonMember2022-12-3100008828352022-12-310000882835us-gaap:RetainedEarningsMember2023-01-012023-12-310000882835us-gaap:CommonStⓘ

Economics & cash

Revenue $7.90B. Gross margin 69.2%. Operating margin 28.3%. conditions generally. We anticipate that our businesses will generate positive cash flows from operating activities, and that these cash flows will permit the reduction of currently outstanding debt in accordance with the repayment schedule. However, the rate at which we can reduce our debt during 2026 (and reduce the associated interest expense) will be affected by, among other things, the financⓘ

Balance sheet & capital allocation

Cash & equivalents $297.4M; long-term debt (XBRL concept) $9.30B; goodwill $21.34B; SBC $166.3M; diluted/basic shares signal 106.6M shares. chases of Equity Securities In October 2025, our Board of Directors approved a share repurchase program for the repurchase of up to $3,000.0 of our common stock. The repurchase program, announced on October 23, 2025, does not have a fixed expiration date, does not obligate the Company to acquire any specific number of shares, and may be suspended at any time at the Company’s diⓘ

Quality & fragility

icense. Software and related services •Recurring – consists primarily of SaaS subscriptions and PCS which are recognized ratably over the contractual term, and annual term software licenses which are generally recognized at a point in time. •Reoccurring – consists primarily of transactional and volume-based fees which are highly reoccurring and recognized at a point in time under a usage-based model. •Non-recurring – consists primarily of perpetual, multi-year term software licenses, or installation/implementation services and assocⓘ

What management is saying

ustomer demand for our mission-critical solutions, we are raising our full year outlook. With significant capital deployment capacity, we are focused on attractive acquisition targets that will continue compounding free cash flow per share for our shareholders," concluded Mr. Hunn. Increasing 2026 guidance Roper now expects full year 2026 adjusted DEPS of $22.15 - $22.30, compared to previous guidance of $21.80 - $22.05. The Company increased its full year total revenue growth outlook to 8%+, compared to a previous outlook of ~8%, and increased its organic revenue growth outlookⓘ

Risks that aren’t boilerplate

ECEMBER 31, 2025 TABLE OF CONTENTS Page PART I Item 1. Business 4 Item 1A. Risk Factors 9 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 18 Item 2. Properties 19 Item 3. Legal Proceedings 19 Item 4. Mine…ⓘ

and those currencies could reduce our reported net revenues and net earnings. We face intense competition. If we do not compete effectively, our business may suffer. We face intense competition from numerous competito…ⓘ

ess 4 Item 1A. Risk Factors 9 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 18 Item 2. Properties 19 Item 3. Legal Proceedings 19 Item 4. Mine Safety Disclosures 19 Information About Our Executive Offic…ⓘ

terials, parts, and components, including as a result of inflation or potential supply chain constraints; •potential write-offs of our goodwill and other intangible assets; •our ability to successfully develop new pro…ⓘ

conditions; •difficulty making acquisitions, including receiving the necessary regulatory approvals (including clearance under the Hart-Scott-Rodino Act in the United States (“U.S.”) and similar antitrust regulations …ⓘ

Open questions

1. Which mix shift (segment / geo / product) actually drove the latest year — and is it durable?
2. How much of FCF is structural vs working-capital / one-time timing?
3. What does capital allocation imply for per-share value after SBC and M&A?
4. Which risk in the filing would change the thesis if it worsened for 2–3 years?