Roper Technologies (ROP)
Market Price (12/25/2025): $450.42 | Market Cap: $48.5 BilSector: Information Technology | Industry: Electronic Equipment & Instruments
Roper Technologies (ROP)
Market Price (12/25/2025): $450.42Market Cap: $48.5 BilSector: Information TechnologyIndustry: Electronic Equipment & Instruments
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 28% | Weak multi-year price returns2Y Excs Rtn is -62%, 3Y Excs Rtn is -73% | Key risksROP key risks include [1] potential overpayment and integration failures tied to its acquisition-led growth strategy and [2] disruption of its vertical software portfolio from increasingly sophisticated, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 2.5 Bil, FCF LTM is 2.4 Bil | ||
| Low stock price volatilityVol 12M is 21% | ||
| Megatrend and thematic driversMegatrends include Cloud Computing, Autonomous Technologies, and Smart Grids & Grid Modernization. Themes include Software as a Service (SaaS), Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 28% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 2.5 Bil, FCF LTM is 2.4 Bil |
| Low stock price volatilityVol 12M is 21% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Autonomous Technologies, and Smart Grids & Grid Modernization. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -62%, 3Y Excs Rtn is -73% |
| Key risksROP key risks include [1] potential overpayment and integration failures tied to its acquisition-led growth strategy and [2] disruption of its vertical software portfolio from increasingly sophisticated, Show more. |
Why The Stock Moved
Qualitative Assessment
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Between August 31, 2025, and December 25, 2025, Roper Technologies (ROP) experienced a stock price decline of 14.1% due to several factors: 1. Slight Revenue Miss and Diluted Full-Year Guidance. Despite reporting a 14% increase in third-quarter revenue and an adjusted earnings per share (EPS) that beat analyst estimates, Roper Technologies' revenue of $2.02 billion slightly missed the forecast of $2.03 billion. Additionally, the company narrowed its full-year 2025 adjusted EPS guidance to $19.90-$19.95 from a previous range of $19.90-$20.05, citing a $0.10 negative impact from recent bolt-on acquisitions.2. Negative Stock Reaction to Q3 Earnings Release. Following the announcement of its Q3 2025 results on October 23, 2025, Roper Technologies' stock declined by 8.98% in pre-market trading, reflecting investor concerns despite the EPS beat. This immediate negative reaction suggests that the slight revenue shortfall and the diluted guidance due to acquisitions outweighed the otherwise strong growth metrics.
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Stock Movement Drivers
Fundamental Drivers
The -10.6% change in ROP stock from 9/24/2025 to 12/24/2025 was primarily driven by a -12.4% change in the company's P/E Multiple.| 9242025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 504.84 | 451.18 | -10.63% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 7468.10 | 7721.00 | 3.39% |
| Net Income Margin (%) | 20.62% | 20.34% | -1.35% |
| P/E Multiple | 35.28 | 30.92 | -12.37% |
| Shares Outstanding (Mil) | 107.60 | 107.60 | 0.00% |
| Cumulative Contribution | -10.63% |
Market Drivers
9/24/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| ROP | -10.6% | |
| Market (SPY) | 4.4% | 12.4% |
| Sector (XLK) | 5.1% | 1.1% |
Fundamental Drivers
The -20.2% change in ROP stock from 6/25/2025 to 12/24/2025 was primarily driven by a -23.7% change in the company's P/E Multiple.| 6252025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 565.17 | 451.18 | -20.17% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 7241.30 | 7721.00 | 6.62% |
| Net Income Margin (%) | 20.69% | 20.34% | -1.72% |
| P/E Multiple | 40.51 | 30.92 | -23.68% |
| Shares Outstanding (Mil) | 107.40 | 107.60 | -0.19% |
| Cumulative Contribution | -20.17% |
Market Drivers
6/25/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| ROP | -20.2% | |
| Market (SPY) | 14.0% | 19.3% |
| Sector (XLK) | 17.5% | 4.6% |
Fundamental Drivers
The -14.0% change in ROP stock from 12/24/2024 to 12/24/2025 was primarily driven by a -18.9% change in the company's P/E Multiple.| 12242024 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 524.90 | 451.18 | -14.04% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 6775.60 | 7721.00 | 13.95% |
| Net Income Margin (%) | 21.78% | 20.34% | -6.64% |
| P/E Multiple | 38.12 | 30.92 | -18.90% |
| Shares Outstanding (Mil) | 107.20 | 107.60 | -0.37% |
| Cumulative Contribution | -14.05% |
Market Drivers
12/24/2024 to 12/24/2025| Return | Correlation | |
|---|---|---|
| ROP | -14.0% | |
| Market (SPY) | 15.8% | 54.9% |
| Sector (XLK) | 22.2% | 42.3% |
Fundamental Drivers
The 6.8% change in ROP stock from 12/25/2022 to 12/24/2025 was primarily driven by a 100.4% change in the company's P/E Multiple.| 12252022 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 422.58 | 451.18 | 6.77% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 5197.50 | 7721.00 | 48.55% |
| Net Income Margin (%) | 55.87% | 20.34% | -63.60% |
| P/E Multiple | 15.42 | 30.92 | 100.45% |
| Shares Outstanding (Mil) | 106.00 | 107.60 | -1.51% |
| Cumulative Contribution | 6.74% |
Market Drivers
12/25/2023 to 12/24/2025| Return | Correlation | |
|---|---|---|
| ROP | -15.9% | |
| Market (SPY) | 48.9% | 56.4% |
| Sector (XLK) | 54.1% | 45.6% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ROP Return | 22% | 15% | -12% | 27% | -4% | -13% | 31% |
| Peers Return | 30% | 18% | -14% | 17% | 15% | 3% | 84% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| ROP Win Rate | 50% | 58% | 42% | 75% | 58% | 50% | |
| Peers Win Rate | 63% | 63% | 38% | 55% | 52% | 48% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| ROP Max Drawdown | -28% | -14% | -27% | -3% | -6% | -15% | |
| Peers Max Drawdown | -42% | -7% | -28% | -12% | -6% | -17% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: FTV, HON, DHR, TDG, TRMB. See ROP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | ROP | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -27.8% | -25.4% |
| % Gain to Breakeven | 38.6% | 34.1% |
| Time to Breakeven | 294 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -35.2% | -33.9% |
| % Gain to Breakeven | 54.4% | 51.3% |
| Time to Breakeven | 67 days | 148 days |
| 2018 Correction | ||
| % Loss | -20.7% | -19.8% |
| % Gain to Breakeven | 26.1% | 24.7% |
| Time to Breakeven | 53 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -50.3% | -56.8% |
| % Gain to Breakeven | 101.2% | 131.3% |
| Time to Breakeven | 714 days | 1,480 days |
Compare to HON, MMM, KEYS, TDY, USBC
In The Past
Roper Technologies's stock fell -27.8% during the 2022 Inflation Shock from a high on 11/19/2021. A -27.8% loss requires a 38.6% gain to breakeven.
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Roper Technologies, Inc. designs and develops software, and engineered products and solutions. The company offers management, campus solutions, diagnostic and laboratory information management, enterprise management, information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations. It also provides cloud-based data, collaboration, and estimating automation software; electronic marketplace; visual effects and 3D content software; wireless sensor network and solutions; cloud-based software for the life insurance and financial services industries; supply chain software; health care service and software; RFID card readers; data analytics and information; and pharmacy software solutions. In addition, the company offers precision rubber and polymer testing instruments, and data analysis software; ultrasound accessories; testing and analyzing plastic solutions; dispensers and metering pumps; control valves; precision weighing equipment; automated surgical scrub and linen dispensing equipment; water meters; optical and electromagnetic measurement systems; automated leak detection equipment; medical devices; products and services for water and gas utilities; and equipment and consumables. It also provides temperature control and emergency shutoff valves; turbomachinery control hardware, software, and services; specialized pumps; flow meter calibrators and controllers; vibration monitoring systems and controls; analytical instrument; drilling power section; and pressure and level sensors. The company was formerly known as Roper Industries, Inc. and changed its name to Roper Technologies, Inc. in April 2015. The company was incorporated in 1981 and is based in Sarasota, Florida.
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Here are 1-3 brief analogies for Roper Technologies (ROP):
- A Berkshire Hathaway focused on buying niche software and technology businesses.
- A diversified software company like Microsoft, but growing primarily by acquiring small, specialized software firms for niche markets.
- Like Danaher, but increasingly focused on acquiring and operating high-margin software businesses for niche industries.
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- Vertical Market Application Software: Provides specialized, mission-critical software solutions tailored for specific niche markets and industries.
- Network Software & Systems: Offers cloud-based software, network management, and information technology solutions for various enterprise applications.
- Measurement & Analytical Solutions: Delivers highly engineered products and solutions for precision measurement, testing, and analytical applications across industries.
AI Analysis | Feedback
Roper Technologies (ROP) primarily sells its specialized software, engineered products, and solutions to other companies and organizations, making it a business-to-business (B2B) company. Due to the diversified nature of its operations across multiple segments and a broad customer base, Roper Technologies does not have any single "major customer" that accounts for 10% or more of its consolidated net sales, nor does it publicly disclose the names of individual major customer companies.
Instead, Roper Technologies serves a vast and diverse range of enterprise, institutional, and industrial customers across various end markets. We can describe these customers in the following categories:
- Customers in Highly Regulated and Knowledge-Intensive Sectors: This category includes healthcare providers (such as hospitals, clinics, and laboratories), financial services firms, legal organizations, and academic/government research institutions. These customers leverage Roper's specialized application software solutions, scientific imaging products, and analytical instruments for critical operations, compliance, and data management.
- Diverse Industrial and Manufacturing Enterprises: This encompasses a broad spectrum of manufacturers across industries such as aerospace, automotive, chemicals, food & beverage, general industrial, and more. These customers utilize Roper's highly engineered measurement and analytical solutions, industrial imaging products, and various process technologies like pumps and flow meters for their production, quality control, and operational needs.
- Critical Infrastructure and Resource Management Entities: This category includes companies and utilities involved in vital sectors such as water management, energy production (oil & gas, power generation), and other essential infrastructure projects. They rely on Roper's robust measurement, analytical, and fluid-handling solutions to monitor, control, and optimize their complex systems.
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Neil Hunn, President and Chief Executive Officer
Neil Hunn became President and CEO of Roper Technologies in August 2018, having joined the company in 2011 as a Group Vice President in the medical segment and later serving as Executive Vice President and Chief Operating Officer. Before Roper, he spent ten years at MedAssets, an Atlanta-based SaaS company, where he held roles as Executive Vice President and CFO, and President of its revenue cycle technology businesses. During his time at MedAssets, he successfully led the company's initial public offering and executed several mergers and acquisitions. He also previously worked at CMGI, an internet business incubator, and the strategy consulting firm Parthenon Group.
Jason Conley, Executive Vice President, Chief Financial Officer
Jason Conley was appointed Executive Vice President and Chief Financial Officer of Roper Technologies in February 2023. He joined Roper in 2006, initially leading financial planning and analysis and investor relations. Before his current role, he served as Vice President, Chief Accounting Officer from 2021 to 2023, and Vice President and Controller from 2017 to 2021. From 2013 to 2017, he was Senior Vice President of Finance and Human Resources and CFO at Managed Health Care Associates, a Roper business unit. His earlier career included various roles at Honeywell International and Deloitte.
Janet Glazer, Senior Vice President, Acquisition & Investment Development
Janet Glazer joined Roper Technologies in September 2023 and is responsible for managing the company's development and acquisition initiatives. Prior to joining Roper, Ms. Glazer served as a Portfolio Manager and Global Sector Leader at Fidelity Investments. In that role, she led a global team of analysts and portfolio managers, developed investment strategies, and was instrumental in creating the Fidelity Water Sustainability Fund.
John K. Stipancich, Executive Vice President, General Counsel and Secretary
John K. Stipancich has served as Executive Vice President, General Counsel and Secretary at Roper Technologies since June 2016, becoming Executive Vice President in October 2018. Prior to Roper, he was Executive Vice President and Chief Financial Officer of Newell Brands Inc., where he also held positions as General Counsel and Corporate Secretary, and Executive Leader for its operations in the Europe, Middle East, and Africa region for twelve years. Before Newell Brands, he was Executive Vice President, General Counsel and Corporate Secretary for Evenflo Company and Assistant General Counsel for Borden, both of which were KKR private equity portfolio companies at the time. He began his legal career at Squire Patton Boggs.
Satish Maripuri, Senior Vice President, Group Executive
Satish Maripuri joined Roper as a Group Executive in October 2018, where he provides coaching and guidance to several of the company's businesses, particularly in software. Before his tenure at Roper, he was the Executive Vice President and General Manager of Nuance Communications, where he oversaw the cloud migration of a $1 billion division and its return to growth. His extensive experience also includes executive and leadership roles at Solera Holdings, Lionbridge Technologies, Imprivata, and Object Design.
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Roper Technologies (ROP) faces several key risks to its business operations and growth strategy. The most significant risk stems from its **acquisition-led growth strategy**, which carries the inherent challenges of overpaying for businesses and difficulties in successfully integrating acquired companies. Roper's reliance on acquisitions means that discipline in pricing and effective integration are crucial, especially given competition from private equity firms. There is also a risk of unforeseen liabilities associated with future acquisitions and potential short-term dilution. Another critical risk is **increasing competition, particularly from AI-enabled rivals**, which could disrupt Roper's portfolio of vertical software platforms. This competition could consolidate fragmented software ecosystems or introduce new pricing models, potentially limiting Roper's ability to maintain market leadership and accelerate organic growth in its base software business. Finally, **cybersecurity and data privacy risks** pose a significant threat. As a technology company, Roper is vulnerable to system failures, data breaches, and network disruptions, which could lead to substantial litigation and reputational damage. The decentralized nature of Roper's operations could also complicate the uniform management and mitigation of these cybersecurity risks across all business units.AI Analysis | Feedback
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Roper Technologies (ROP) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, sustained organic growth in its core vertical markets, continuous product innovation with a focus on artificial intelligence, and recovery in certain end markets.
- Strategic Acquisitions: Roper consistently leverages a disciplined acquisition strategy, targeting niche, market-leading vertical software companies. This approach is a core part of its growth model, with the company maintaining significant capital for future M&A. Recent acquisitions, such as Transact Campus and CentralReach, are expected to contribute directly to revenue growth by integrating new mission-critical software solutions into Roper's portfolio.
- Organic Growth in Vertical Market Software and Technology-Enabled Products: The company anticipates continued organic revenue expansion from its existing portfolio of vertical market software and technology-enabled products. This growth is underpinned by high customer retention rates and a significant portion of recurring revenue, particularly within its application and network software segments. Roper aims for high single-digit organic growth, reflecting resilient demand for its specialized solutions.
- Integration of AI and Cloud-Native Solutions: Significant investments in Artificial Intelligence (AI) and cloud-native capabilities are expected to be a key driver. AI is viewed as a "structural accelerator" that expands the total addressable market for Roper's businesses by automating tasks and creating new customer value points. This integration is anticipated to enhance existing solutions, enable the launch of new AI-driven products, improve operational efficiency, and accelerate organic revenue growth.
- Expansion and Resilience in Key Verticals: Roper's strategic focus on resilient, high-margin vertical software platforms embedded in sectors like healthcare, insurance, and infrastructure is projected to continue fueling growth. The company's diversified portfolio benefits from secular tailwinds in these essential markets, ensuring stable and predictable revenue streams.
- Stabilization and Rebound in Specific Market Segments: The stabilization of certain cyclical markets, such as the freight market, is expected to drive a rebound in related Roper segments like DAT and Loadlink. Improved conditions in these specific areas are anticipated to contribute positively to overall revenue performance over the next 2-3 years.
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Share Repurchases
- Roper's Board of Directors authorized a new share repurchase program of up to $3 billion on October 23, 2025.
- This represents the company's first-ever share repurchase authorization.
Share Issuance
- The weighted average diluted shares outstanding have remained relatively stable, fluctuating around 107-108 million shares, suggesting limited dilution.
Outbound Investments
- In the third quarter of 2025, Roper deployed $1.3 billion towards acquisitions, including $800 million for Subsplash and $500 million for several bolt-on acquisitions.
- In 2024, the company invested $3.6 billion in vertical software acquisitions, notably acquiring Procare Solutions and Transact Campus.
- Roper is set to acquire CentralReach for $1.65 billion, including a $200 million tax benefit, with the transaction anticipated to close in April or May 2025.
Capital Expenditures
- Roper Technologies' capital expenditures growth was 2.9% for the latest twelve months.
- The company's capital expenditures growth decreased by 15.4% in 2021, 40.7% in 2022, and 69.6% in 2023.
- Roper's business model is characterized as asset-light, with its businesses typically not owning their own infrastructure.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 13.9% | 13.9% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.0% | 12.0% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 17.0% | 17.0% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 11.9% | 11.9% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 4.1% | 4.1% | 0.0% |
| 09262025 | ROP | Roper Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -9.5% | -9.5% | -11.8% |
| 06302022 | ROP | Roper Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 11.0% | 22.6% | -8.7% |
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Peer Comparisons for Roper Technologies
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 214.20 |
| Mkt Cap | 62.5 |
| Rev LTM | 8,276 |
| Op Inc LTM | 3,180 |
| FCF LTM | 2,111 |
| FCF 3Y Avg | 1,819 |
| CFO LTM | 2,281 |
| CFO 3Y Avg | 1,960 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.3% |
| Rev Chg 3Y Avg | 7.3% |
| Rev Chg Q | 5.7% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Mgn LTM | 19.0% |
| Op Mgn 3Y Avg | 20.3% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 20.7% |
| CFO/Rev 3Y Avg | 22.6% |
| FCF/Rev LTM | 17.9% |
| FCF/Rev 3Y Avg | 20.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 62.5 |
| P/S | 5.8 |
| P/EBIT | 19.7 |
| P/E | 33.9 |
| P/CFO | 22.6 |
| Total Yield | 3.9% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 3.4% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.3% |
| 3M Rtn | 0.9% |
| 6M Rtn | -0.1% |
| 12M Rtn | -1.1% |
| 3Y Rtn | 10.5% |
| 1M Excs Rtn | -1.1% |
| 3M Excs Rtn | -3.5% |
| 6M Excs Rtn | -14.2% |
| 12M Excs Rtn | -17.1% |
| 3Y Excs Rtn | -69.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Application Software | 3,187 | 2,640 | 2,367 | 1,800 | 1,588 |
| Technology Enabled Products | 1,552 | 1,354 | 1,243 | 455 | 653 |
| Network Software | 1,439 | 1,378 | 1,224 | 1,174 | 1,530 |
| Corporate | 0 | ||||
| Measurement & Analytical Solutions | 1,426 | 1,596 | |||
| Total | 6,178 | 5,372 | 4,834 | 4,854 | 5,367 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Application Software | 821 | 714 | 633 | 469 | 405 |
| Network Software | 632 | 571 | 477 | 414 | 538 |
| Technology Enabled Products | 519 | 449 | 416 | 115 | 226 |
| Corporate | -227 | -209 | -190 | -188 | -172 |
| Non-cash impairment charges | -94 | ||||
| Measurement & Analytical Solutions | 463 | 501 | |||
| Total | 1,745 | 1,524 | 1,241 | 1,273 | 1,498 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Application Software | 20,351 | 18,723 | 14,280 | 14,544 | 8,384 |
| Network Software | 5,364 | 5,467 | 5,631 | 5,887 | 6,406 |
| Technology Enabled Products | 1,486 | 1,503 | 1,407 | 500 | 632 |
| Corporate | 967 | 1,287 | 513 | 427 | 798 |
| Assets held for sale | 1,883 | 846 | |||
| Measurement & Analytical Solutions | 1,820 | 1,887 | |||
| Total | 28,168 | 26,981 | 23,714 | 24,025 | 18,109 |
Price Behavior
Price Behavior
| Market Price | $451.18 | |
| Market Cap ($ Bil) | 48.5 | |
| First Trading Date | 02/13/1992 | |
| Distance from 52W High | -23.7% | |
| 50 Days | 200 Days | |
| DMA Price | $455.14 | $524.43 |
| DMA Trend | down | down |
| Distance from DMA | -0.9% | -14.0% |
| 3M | 1YR | |
| Volatility | 20.7% | 21.0% |
| Downside Capture | 40.18 | 62.88 |
| Upside Capture | -20.57 | 38.62 |
| Correlation (SPY) | 11.5% | 54.9% |
ROP Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.41 | 0.23 | 0.34 | 0.45 | 0.61 | 0.71 |
| Up Beta | -0.30 | 0.00 | 0.10 | 0.18 | 0.64 | 0.73 |
| Down Beta | 1.00 | 0.97 | 0.77 | 0.76 | 0.63 | 0.76 |
| Up Capture | 54% | -41% | -26% | -2% | 27% | 27% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 11 | 21 | 30 | 61 | 126 | 397 |
| Down Capture | 48% | 32% | 65% | 89% | 79% | 90% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 8 | 20 | 32 | 64 | 121 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of ROP With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| ROP | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -13.0% | 26.7% | 19.2% | 71.9% | 8.9% | 6.0% | -10.4% |
| Annualized Volatility | 20.9% | 27.6% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | -0.76 | 0.84 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 42.5% | 55.1% | 10.2% | 13.3% | 57.3% | 15.1% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of ROP With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| ROP | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 2.0% | 19.0% | 14.9% | 18.7% | 11.7% | 4.8% | 32.6% |
| Annualized Volatility | 20.3% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.03 | 0.69 | 0.70 | 0.97 | 0.51 | 0.17 | 0.59 |
| Correlation With Other Assets | 54.1% | 62.1% | 11.4% | 7.4% | 53.8% | 19.0% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 10-Year Data
| Comparison of ROP With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| ROP | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 9.9% | 22.3% | 14.7% | 14.9% | 6.9% | 5.2% | 69.2% |
| Annualized Volatility | 22.9% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.41 | 0.84 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 61.8% | 69.9% | 2.6% | 21.9% | 55.3% | 12.7% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/23/2025 | -5.7% | -12.3% | -13.4% |
| 7/21/2025 | 1.3% | 3.3% | -2.3% |
| 4/28/2025 | -1.0% | 1.5% | 2.9% |
| 1/30/2025 | 5.1% | 7.1% | 7.6% |
| 10/23/2024 | -1.7% | -0.6% | -0.5% |
| 7/24/2024 | -7.4% | -5.1% | -4.0% |
| 4/26/2024 | -2.5% | -5.5% | 0.8% |
| 1/31/2024 | -4.4% | -2.9% | -3.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 15 | 13 |
| # Negative | 11 | 8 | 10 |
| Median Positive | 2.9% | 2.0% | 3.1% |
| Median Negative | -2.5% | -4.8% | -3.7% |
| Max Positive | 5.1% | 9.4% | 14.7% |
| Max Negative | -7.4% | -12.3% | -13.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10312025 | 10-Q 9/30/2025 |
| 6302025 | 8012025 | 10-Q 6/30/2025 |
| 3312025 | 5022025 | 10-Q 3/31/2025 |
| 12312024 | 2242025 | 10-K 12/31/2024 |
| 9302024 | 11012024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 2222024 | 10-K 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8032023 | 10-Q 6/30/2023 |
| 3312023 | 5032023 | 10-Q 3/31/2023 |
| 12312022 | 2272023 | 10-K 12/31/2022 |
| 9302022 | 11022022 | 10-Q 9/30/2022 |
| 6302022 | 8032022 | 10-Q 6/30/2022 |
| 3312022 | 5042022 | 10-Q 3/31/2022 |
| 12312021 | 2222022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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