01—Abstract
Summary
Summary of the 8-K filed July 23, 2026. Cited figures are marked; the original filing is the authoritative source.
Roper Technologies, Inc. reported second-quarter 2026 net revenues of $2.11 billiona, up 9% from $1.94 billion a year earlier.
Management attributed 5% of that growth to organic revenue and 3% to acquisitions, with no foreign exchange contribution. GAAP net earnings rose to $1,168.5 millionb from $378.3 million, but the increase was driven largely by an $835.2 million equity investment gain tied to the company's minority stake in Indicor. On a non-GAAP basis, adjusted diluted earnings per share (DEPS) increased 10% to $5.38, and adjusted free cash flow increased 11% to $447 million.
The company repurchased 3.6 million shares for $1.2 billionc in the quarter. Under the program to date, it has repurchased 9.0 million shares for $3.2 billion, which management says is more than 8% of shares outstanding. Long-term debt, net of current portion, increased to $10.60 billion at June 30, 2026 from $8.60 billion at December 31, 2025, and treasury stock rose to $3.25 billion from $516.1 million.
Roper raised its full-year 2026 guidance. Adjusted DEPS is now expected at $22.15 to $22.30d, up from $21.80 to $22.05. Total revenue growth is now expected at 8% or more, versus approximately 8% previously, and organic revenue growth at approximately 6%, versus 5% to 6% previously.
Third-quarter 2026 adjusted DEPS is guided to $5.75 to $5.80. Guidance excludes future acquisitions or divestitures, proceeds from Indicor's pending divestiture of its instrumentation businesses, and potential share repurchases.
02—Key points
Key Highlights
- Q2 2026 net revenues rose 9% to $2.11 billion, with organic growth of 5% and acquisition contribution of 3%.
- GAAP diluted EPS was $11.62, up from $3.49, reflecting an $835.2 million equity investment gain tied to the Indicor minority stake.
- Adjusted DEPS increased 10% to $5.38, and adjusted free cash flow increased 11% to $447 million.
- Adjusted EBITDA rose 5% to $815 million, and adjusted EBITDA margin was 38.6%, down 130 bps from 39.9%.
- Full-year 2026 adjusted DEPS guidance was raised to $22.15 to $22.30 from $21.80 to $22.05; organic revenue growth outlook was raised to approximately 6%.
- The company repurchased 3.6 million shares for $1.2 billion in Q2, bringing program-to-date repurchases to 9.0 million shares for $3.2 billion.
- Long-term debt, net of current portion, increased to $10.60 billion at June 30, 2026 from $8.60 billion at December 31, 2025.
03—Questions
Frequently Asked Questions
Why did GAAP net earnings increase so sharply in Q2 2026?
GAAP net earnings were $1,168.5 million versus $378.3 million a year earlier, largely because of an equity investment gain of $835.2 million, compared with a gain of $16.6 million in Q2 2025. The gain relates to Roper's minority investment in Indicor, which the company excludes from its adjusted non-GAAP results.
What drove revenue growth in the second quarter?
Net revenues increased 9% to $2.11 billion. Organic growth contributed 5%, acquisitions contributed 3%, and foreign exchange contributed nothing to total growth. Application Software revenue was $1,180.8 million, Network Software $430.9 million, and Technology Enabled Products $497.2 million.
How much capital has Roper returned to shareholders through buybacks?
In Q2 2026 Roper repurchased 3.6 million shares for $1.2 billion. Program to date, it has repurchased 9.0 million shares for $3.2 billion, which management describes as more than 8% of shares outstanding. Cash dividends paid were $191.4 million in the first six months of 2026.
What is the updated 2026 outlook?
Full-year 2026 adjusted DEPS guidance is $22.15 to $22.30, up from $21.80 to $22.05. Total revenue growth is now expected at 8% or more, and organic revenue growth at approximately 6%. Third-quarter adjusted DEPS is expected at $5.75 to $5.80. Guidance excludes unannounced acquisitions or divestitures, proceeds from Indicor's pending divestiture, and potential share repurchases.
04—Continue