ROP US S&P 500NASDAQ-100Russell 1000 Earnings call · transcribed from the recording
Roper Technologies (ROP) · Q3 2026 results and valuation
Share price: $477.70 · 2026-11-11
Roper Technologies is a diversified technology company that designs and develops vertical software and technology-enabled products for various niche markets. The company provides software and services to customers in sectors such as healthcare, education, government contracting, and professional services. It operates globally, serving both domestic and international markets. Source: 10-K annual report (2026-02-24)
Results Q3 2026 vs Q2 2026 · previous quarter · published 22 Oct 2026 and 23 Jul 2026
Management sounded upbeat, though noticeably less so answering analysts.
1 · Numbers
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No financial figures for this pair
Outlook given
2 · How management spoke
Upbeat
More upbeat than 70% of company calls
Answers to analysts: cautious, but clearly less so than the script.
Similar to last call.
3 · What stood out
Figure
Looking ahead, Roper Technologies now has more than $6 billion of capacity for capital deployment over the next 12 months given strong free cash flow…
Valuation
Is Roper Technologies undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 13.7% growth a year (3-year revenue growth), the model's fair value is $694.21 a share — the stock trades 31% below it. Today's price assumes 9.3% growth a year.
Current price
$477.70
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+9.3% for 10 yrs
Fair value / share
$694.21
Buy below
$520.66
Price vs fair value
Undervalued 31%
Price vs buy-below price
Undervalued 8%
Management expects
Revenue +7% · from the Q3 2026 report: “🔥 "First, we delivered solid third quarter results, including 7% organic revenue growth and increased depth guidance for the year." — key theme this quarter…”
A guidance figure for revenue, usually one year ahead, not a 10-year free-cash-flow rate.
Read between the lines
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Guidance
For the year, Roper Technologies expects free cash flow to be 30% or more revenue, and with its share repurchase activity, free cash flow per share is expected to grow in the double digits area.
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Figure
Roper Technologies delivered revenue of $2.2 billion, which is up 8% over prior year, underpinned by organic growth of 7%.
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Figure
EBITDA of $864 million was up 7% and converted to EBITDA margin of 39.8%.
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Figure
EBITDA margins were 43.7% up 30 basis points year over year.
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Guidance
For the full year, Roper Technologies is raising and narrowing adjusted depth guidance to a range of $22.35 to $22.40.
4 more
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Guidance
Roper Technologies delivered solid third quarter results, including 7% organic revenue growth and increased depth guidance for the year.
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Figure
Since the beginning of the year, VertiFOR has developed and launched 12 workflow automation agents, with many, many more in development.
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Figure
Specifically, Roper Technologies deployed $436 million towards bolt-on acquisitions for iPipeline, ProCare, and Strata.
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Key theme
Third, Roper Technologies is active again on the acquisition front, completing three bolt-ons with its longstanding capital allocation discipline.
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q3 2026. Ring: Q2 2026.
Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 93% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.
Sentences that drove the tone
“By automating data gathering and preparing a draft for clinician input and review, the product frees up substantial capacity for billable care, creating opportunities for providers to serve more learners,...”
“Consistent with our acquisition criteria, these tuck-ins play directly into the strategy of increasing organic growth where we have the highest right to win.”
“Our third quarter was highlighted by solid organic revenue growth and strong depth growth.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q3 2026not yet filed | Q2 2026period end 2026-06-30 | Change | Q3 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | — | 2.11B | 2.02B | ||
| Gross profit | — | 1.47B | 1.40B | ||
| Operating income | — | 584.7M | 573.0M | ||
| Net income | — | 1.17B | 398.5M | ||
| EPS | — | 11.62 | 3.68 | ||
| P/E today 18.9 | — | 14.1 | — | 34.3 | — |
Topics
Most discussed now
- New It's still like a COVID super cycle dynamic that the industry at large is digesting.
- New The first flavor Roper Technologies alreadies talked about, I'll call it like this, this tokenized fixed budget, use it over a...
- Looking across the segment, AI momentum continues to build with more of Roper Technologies' businesses bringing new solutions to market.
- Roper Technologies' third quarter was highlighted by solid organic revenue growth and strong depth growth.
- Roper Technologies' enterprise software gross retention remains very high, consistently in the mid-90s.
Faded since Q2 2026
- Fading Day doing tasks and now take 30 minutes
Latest announcements
Official filings, newest first. Summaries are generated from each filing and its attachment; every figure is checked against the source.
- Results of operations · SEC 8-K
Roper Technologies reported third-quarter revenue of $2.17 billion, up 8% from $2.017 billion in the prior year, and adjusted DEPS of $5.89, up 15% year over year.
- Director or officer change · SEC 8-K
Abhijit Dubey joined the Roper Technologies Board of Directors on October 1, 2026, with an initial equity award of approximately $224,583.
- 5.04 · SEC 8-K
Roper Technologies, Inc. announced a blackout trading period from September 25, 2026, to the week of October 18, 2026, due to the transition of retirement plan recordkeeping to Fidelity Investments.
- Results of operations · SEC 8-K
Roper Technologies reported second-quarter revenue of $2.11 billion, up 9% from $1.944 billion in the same period last year, with adjusted DEPS increasing 10% to $5.38.
- Director or officer change; Shareholder vote results · SEC 8-K
On May 19, 2026, shareholders approved an amendment to the Roper Technologies, Inc. 2021 Incentive Plan to allow the Compensation Committee to grant various forms of cash or equity-based compensation.
- Results of operations · SEC 8-K
- Material agreement; Agreement terminated; New financial obligation · SEC 8-K
The Company entered into a Credit Agreement with SOFR loan spreads of 0.920% and ABR loan spreads of 0.000% based on its current debt rating.
- Results of operations · SEC 8-K
Roper Technologies reported full-year 2025 revenue of $7.90 billion, up 12% from $7.039 billion in 2024, and adjusted EBITDA of $3.14 billion, up 11% from $2.832 billion.
Balance sheet & ownership
From SEC filings; short interest is FINRA data via Yahoo. Collected 2026-11-08.
Cash & runway
Cash & equivalents
$311.0M
2026-09-30
Implied runway
—
operating cash flow positive over the TTM window
Dilution
weighted-average basic shares, per quarter. Change: -8.1% YoY, -1.5% QoQ.
| Quarter | Shares |
|---|---|
| Q1 2025 | 107.4M |
| Q2 2025 | 107.6M |
| Q3 2025 | 107.6M |
| Q1 2026 | 104.3M |
| Q2 2026 | 100.4M |
| Q3 2026 | 98.9M |
Shares outstanding: 99.0M (2026-10-28)
Insider transactions
Form 4 open-market trades (codes S/P), trailing 12 months. 33 filings parsed.
Sold by insiders
106.1K shares
$48.5M · 22 transactions
Bought by insiders
12.6K shares
$5.6M · 4 transactions
Net direction
net selling