01—Abstract
Summary
Summary of the 8-K filed April 23, 2026. Cited figures are marked; the original filing is the authoritative source.
Roper Technologies, Inc. reported first quarter 2026 results for the quarter ended March 31, 2026, in a press release furnished as Exhibit 99.1 to this Form 8-K.
Net revenues rose 11% to $2.10 billiona, with organic revenue up 6% and acquisitions contributing 5%. GAAP net earnings increased 54% to $509 million, while adjusted net earnings rose 4% to $539 million and adjusted EBITDA increased 8% to $797 million. The GAAP increase was driven largely by a $167.3 million equity investment gain tied to the minority stake in Indicor, which is excluded from the company's non-GAAP results.
Operating cash flow increased 12% to $592 millionb and free cash flow increased 11% to $562 million. Capital deployment was a major focus. The company repurchased 4.3 million shares for $1.5 billion in the quarter and 6.0 million shares for $2.2 billion program-to-date.
The Board authorized an additional $3 billionc of repurchases, bringing remaining capacity to $3.8 billion. Management also cited more than $5 billion of deployable capacity for acquisitions and buybacks. Total long-term debt rose to $9.75 billion from $8.60 billion at year-end 2025, reflecting a $1.15 billion net revolver borrowing, and treasury stock increased to $2.02 billion.
Roper raised its full-year 2026 adjusted DEPS guidance to $21.80 to $22.05d from $21.30 to $21.55. Second-quarter 2026 adjusted DEPS guidance is $5.25 to $5.30. Guidance excludes unannounced acquisitions or divestitures and potential share repurchases, and does not include potential impacts from the Indicor investment, which the company says cannot be reasonably predicted.
02—Key points
Key Highlights
- Q1 2026 revenue rose 11% to $2.10 billion: organic growth of 6%, acquisitions contributed 5%, and foreign exchange 1%.
- GAAP diluted EPS increased 59% to $4.87; adjusted DEPS increased 8% to $5.16.
- GAAP net earnings of $509 million were boosted by a $167.3 million equity investment gain related to Indicor, which is excluded from non-GAAP results.
- Adjusted EBITDA increased 8% to $797 million, with adjusted EBITDA margin of 38.1% versus 39.3% a year earlier.
- Operating cash flow rose 12% to $592 million and free cash flow rose 11% to $562 million.
- Repurchased 4.3 million shares for $1.5 billion in Q1; Board added $3 billion of authorization, leaving $3.8 billion remaining.
- Full-year 2026 adjusted DEPS guidance raised to $21.80 to $22.05 from $21.30 to $21.55.
03—Questions
Frequently Asked Questions
Why did GAAP earnings grow much faster than adjusted earnings?
GAAP net earnings included a $167.3 million equity investment gain on Roper's minority stake in Indicor, compared with a $44.4 million loss in the prior-year quarter. The company excludes these minority investment impacts from its non-GAAP measures, so adjusted net earnings rose only 4% to $539 million.
How much capital has Roper returned to shareholders?
In Q1 2026 Roper repurchased 4.3 million shares for $1.5 billion and paid $97.4 million in cash dividends. Program-to-date, it has repurchased 6.0 million shares for $2.2 billion. The Board authorized an additional $3 billion, bringing remaining repurchase capacity to $3.8 billion.
What is the company's updated outlook?
Roper now expects full-year 2026 adjusted DEPS of $21.80 to $22.05, up from $21.30 to $21.55, and second-quarter 2026 adjusted DEPS of $5.25 to $5.30. Guidance excludes unannounced acquisitions or divestitures and potential share repurchases.
How did debt and balance sheet change?
Long-term debt, net of current portion, rose to $9.75 billion at March 31, 2026 from $8.60 billion at December 31, 2025, following $1.15 billion of net revolving credit facility borrowings. Cash and cash equivalents increased to $382.9 million from $297.4 million.
What drove revenue growth by segment?
Application Software revenue rose to $1.19 billion from $1.07 billion, Network Software rose to $427.6 million from $375.9 million, and Technology Enabled Products rose to $476.2 million from $438.7 million. Application Software segment operating profit margin improved to 26.8% from 25.9%, while Network Software margin declined to 40.6% from 44.3%.
04—Continue