Roper Technologies (ROP) FY2022 results: revenue $5.4 billion, up 11.1% on the year

Roper Technologies Inc. (ROP) reported revenue of $5.4 billion for fiscal 2022, the year ended 31 December 2022, up 11.1% on the year before. Net income was $4.5 billion, up 294.3%, and diluted earnings per share $42.55. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.

Revenue

$5.4 billion

+11.1% on the year

FY2015FY2022

Operating margin

28.4%

25.7% a year earlier

FY2015FY2022

Net income

$4.5 billion

+294.3% on the year

FY2015FY2022

Diluted EPS

$42.55

+293.3% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	5,372	4,834	4,022	+11.1%
Cost of revenue	1,619	1,426	1,194	+13.5%
Gross profit	3,753	3,408	2,828	+10.1%
Gross margin	69.9%	70.5%	70.3%
Research and development	530	485	382	+9.3%
Selling, general and administrative	2,228	2,072	1,745	+7.5%
Operating income	1,524	1,241	1,083	+22.8%
Operating margin	28.4%	25.7%	26.9%
Interest expense	192	234	219	-17.8%
Pre-tax income	1,282	1,032	861	+24.2%
Income tax	296	227	188	+30.8%
Effective tax rate	23.1%	22.0%	21.8%
Net income	4,545	1,153	950	+294.3%
Net margin	84.6%	23.8%	23.6%
Diluted EPS	$42.55	$10.82	$8.98	+293.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	735	2,012	1,525	-63.5%
Cash from investing	1,210	-143	-6,074
Cash from financing	-1,465	-1,814	4,137
Depreciation and amortisation	650	616	492	+5.6%
Share-based compensation	118	123	108	-3.7%
Dividends paid	262	236	214	+11.0%
Dividend per share	$2.54	$2.31	$2.10	+10.0%
Diluted shares, weighted	107m	106m	106m	+0.3%
Shares outstanding at period end	106m	106m	105m	+0.6%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	16,038	11,564	10,480	+38.7%
Debt	6,662	7,922	9,566	-15.9%
Operating lease liabilities	164	157	193	+4.7%
Other liabilities	4,117	4,071	3,786	+1.1%
Total liabilities and equity	26,981	23,714	24,025	+13.8%
Fixed assets	85.3	82.7	127	+3.1%
Goodwill	15,946	13,476	13,338	+18.3%
Intangible assets	8,031	6,509	7,168	+23.4%
Cash and equivalents	793	352	308	+125.5%
Receivables	724	688	746	+5.4%
Inventory	111	69.2	165	+60.8%
Other assets	1,290	2,538	2,172	-49.2%
Total assets	26,981	23,714	24,025	+13.8%

10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.