Roper Technologies (ROP) FY2024 results: revenue $7.0 billion, up 13.9% on the year

Roper Technologies Inc. (ROP) reported revenue of $7.0 billion for fiscal 2024, the year ended 31 December 2024, up 13.9% on the year before. Net income was $1.5 billion, up 11.9%, and diluted earnings per share $14.35. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2025.

Revenue

$7.0 billion

+13.9% on the year

FY2017FY2024

Operating margin

28.4%

28.2% a year earlier

FY2017FY2024

Net income

$1.5 billion

+11.9% on the year

FY2017FY2024

Diluted EPS

$14.35

+11.3% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	7,039	6,178	5,372	+13.9%
Cost of revenue	2,161	1,871	1,619	+15.5%
Gross profit	4,878	4,307	3,753	+13.3%
Gross margin	69.3%	69.7%	69.9%
Research and development	748	646	530	+15.8%
Selling, general and administrative	2,882	2,562	2,228	+12.5%
Operating income	1,997	1,745	1,524	+14.4%
Operating margin	28.4%	28.2%	28.4%
Interest expense	259	165	192	+57.4%
Pre-tax income	1,967	1,743	1,282	+12.9%
Income tax	418	375	296	+11.5%
Effective tax rate	21.2%	21.5%	23.1%
Net income	1,549	1,384	4,545	+11.9%
Net margin	22.0%	22.4%	84.6%
Diluted EPS	$14.35	$12.89	$42.55	+11.3%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	2,393	2,035	735	+17.6%
Cash from investing	-3,468	-2,126	1,210
Cash from financing	1,070	-500	-1,465
Depreciation and amortisation	813	755	650	+7.6%
Share-based compensation	146	124	118	+18.1%
Buybacks	0.0	0.0	n/a
Dividends paid	322	290	262	+10.9%
Dividend per share	$3.08	$2.80	$2.54	+10.0%
Diluted shares, weighted	108m	107m	107m	+0.6%
Shares outstanding at period end	107m	107m	106m	+0.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	18,868	17,445	16,038	+8.2%
Debt	7,623	6,330	6,662	+20.4%
Operating lease liabilities	155	159	164	-2.5%
Other liabilities	4,689	4,234	4,117	+10.8%
Total liabilities and equity	31,335	28,168	26,981	+11.2%
Fixed assets	150	120	85.3	+25.2%
Goodwill	19,313	17,119	15,946	+12.8%
Intangible assets	9,060	8,212	8,031	+10.3%
Cash and equivalents	188	214	793	-12.2%
Receivables	885	830	724	+6.7%
Inventory	121	119	111	+1.9%
Other assets	1,618	1,554	1,290	+4.1%
Total assets	31,335	28,168	26,981	+11.2%

10-K for the year ended 31 December 2024, filed 24 February 2025: the filing.