How did Roper perform in 2024?

Full-year 2024 revenue rose 14% to $7.04 billion, GAAP net earnings rose 13% to $1.55 billion, and adjusted net earnings rose 10% to $1.98 billion. Free cash flow grew 16% to $2.3 billion.

What drove revenue growth?

Full-year growth was 6% organic and 8% from acquisitions, according to the filing. Management attributed the acquisition contribution to disciplined capital deployment, citing Procare Solutions and Transact Campus, which was combined with the CBORD business.

What is Roper's 2025 outlook?

Roper expects full-year 2025 adjusted DEPS of $19.75 to $20.00 and first-quarter adjusted DEPS of $4.70 to $4.74. It expects total revenue growth of 10% or more, with organic growth of 6% to 7%. Guidance excludes unannounced future acquisitions or divestitures.

Why do GAAP and adjusted earnings differ?

Adjusted results exclude the financial impacts of the minority investments in Indicor and Certinia, which are recorded in equity investments gain, net. In Q4 2024 these impacts were a pretax gain of $141 million, which the company removes from adjusted figures. Adjusted results also exclude amortization of acquisition-related intangible assets, restructuring and transaction expenses, and a legal settlement charge.

Does the 2025 guidance include the Indicor investment?

No. The filing states that forecasted results do not include any potential impacts associated with the Indicor minority investment, which management said cannot be reasonably predicted. Those impacts will be excluded from non-GAAP results in future periods.

ROP 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed January 30, 2025. Cited figures are marked; the original filing is the authoritative source.

Roper Technologies, Inc. (Nasdaq: ROP) reported results for the fourth quarter and full year ended December 31, 2024, in a press release furnished as Exhibit 99.1 to this Form 8-K.

Fourth-quarter revenue rose 16% to $1.88 billion^a, with acquisitions contributing 9 percentage points and organic growth 7%. GAAP net earnings increased 22% to $462 million and GAAP diluted EPS (DEPS) increased 22% to $4.28. For the full year, revenue increased 14% to $7.04 billion, with 6% organic growth and an 8% acquisition contribution.

Operating cash flow was $2.39 billion^b, and free cash flow grew 16% to $2.3 billion, which management said surpassed $2 billion for the first time. Management deployed $3.6 billion of capital into vertical software acquisitions, including Procare Solutions and Transact Campus. Full-year GAAP net earnings rose 13% to $1.55 billion and GAAP DEPS rose 13% to $14.35.

Adjusted net earnings rose 10% to $1.98 billion^c and adjusted DEPS rose 10% to $18.31. Adjusted figures exclude the financial impacts of Roper's minority investments in Indicor and Certinia, which are recorded in "equity investments gain, net." Roper sold its Certinia minority interest during the quarter and recognized the associated gain in that line. For 2025, Roper guided to full-year adjusted DEPS of $19.75 to $20.00 and first-quarter adjusted DEPS of $4.70 to $4.74.

The company expects total revenue growth of 10%^d or more, with organic revenue growth of 6% to 7%. Guidance excludes unannounced future acquisitions or divestitures and any potential impacts from the Indicor investment, which management said cannot be reasonably predicted.

02—Key points

Key Highlights

Q4 2024 revenue rose 16% to $1.88 billion, with acquisitions contributing 9% and organic growth 7%.
Full-year 2024 revenue rose 14% to $7.04 billion, with 6% organic growth and an 8% acquisition contribution.
Full-year 2024 free cash flow grew 16% to $2.3 billion, surpassing $2 billion for the first time; operating cash flow was $2.39 billion.
Full-year GAAP DEPS rose 13% to $14.35; adjusted DEPS rose 10% to $18.31.
Roper deployed $3.6 billion of capital toward vertical software acquisitions, including Procare Solutions and Transact Campus.
2025 guidance calls for adjusted DEPS of $19.75 to $20.00 and total revenue growth of 10% or more, with organic growth of 6% to 7%.
Q4 2024 results included a $141 million equity investments gain, net, from the Indicor and Certinia minority investments, including the sale of the Certinia stake; Roper excludes these impacts from adjusted results.

03—Questions

Frequently Asked Questions

How did Roper perform in 2024?
Full-year 2024 revenue rose 14% to $7.04 billion, GAAP net earnings rose 13% to $1.55 billion, and adjusted net earnings rose 10% to $1.98 billion. Free cash flow grew 16% to $2.3 billion.
What drove revenue growth?
Full-year growth was 6% organic and 8% from acquisitions, according to the filing. Management attributed the acquisition contribution to disciplined capital deployment, citing Procare Solutions and Transact Campus, which was combined with the CBORD business.
What is Roper's 2025 outlook?
Roper expects full-year 2025 adjusted DEPS of $19.75 to $20.00 and first-quarter adjusted DEPS of $4.70 to $4.74. It expects total revenue growth of 10% or more, with organic growth of 6% to 7%. Guidance excludes unannounced future acquisitions or divestitures.
Why do GAAP and adjusted earnings differ?
Adjusted results exclude the financial impacts of the minority investments in Indicor and Certinia, which are recorded in equity investments gain, net. In Q4 2024 these impacts were a pretax gain of $141 million, which the company removes from adjusted figures. Adjusted results also exclude amortization of acquisition-related intangible assets, restructuring and transaction expenses, and a legal settlement charge.
Does the 2025 guidance include the Indicor investment?
No. The filing states that forecasted results do not include any potential impacts associated with the Indicor minority investment, which management said cannot be reasonably predicted. Those impacts will be excluded from non-GAAP results in future periods.

04—Continue

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