ROP
Roper Technologies
Recurring SaaS
★ Quality 60/100Price today
$407.28
This company value is already calculated
We know what it is worth from its audited numbers, and whether it trades above or below that today. Create your free account to see it.
See what it is worthcharlieapp.co
What this business is made of
The business
Roper collects tiny monopolies that nobody else wants to touch.
Roper buys niche vertical software and market verticals where it dominates a small but essential industry. It charges for subscriptions and recurring maintenance — it billed $7.9B in 2025 with a 69% gross margin and $2.5B of free cash flow. It doesn't manufacture anything heavy; it sells software and data that its clients can't get away from.
The moat is fragmentation: dozens of tiny monopolies in markets nobody else wants to go after because they're too small. High switching costs — a hospital or a law firm doesn't migrate its critical software to save pocket change. It converts nearly a third of its revenue into free cash flow, which funds the next acquisition without diluting.
Revenue history
From $5.4B to $7.9B in 4 years. The business grows steadily.
Where each $100 of sales goes
Revenue $7.9B · FY2025
Of every $100 in sales, $81 goes to costs and operations; $19 is left as net profit (19% margin).
Catalysts and risks
$2.5B of annual FCF reinvested in software acquisitions at disciplined multiples.
High single-digit organic growth in its application software segments.
FCF margin near 32% that expands as the mix becomes more SaaS.
$9.3B of debt against $0.3B of cash — the model depends on continuing to buy, and that requires cheap credit.
Overpaying for acquisitions when software multiples rise pressures future returns.
Growth is bought, not invented; if the pipeline of targets dries up, the machine slows down.
Charlie's note
“A well-oiled capital machine that buys software tollbooths and lets them run. You pay 26 times for the buyer's discipline; the day they lose that discipline, the charm evaporates.”
Analysis · June 2026
Want to follow Roper Technologies?
We do not calculate a value here: Roper Technologies does not generate cash flows you can project, and putting a number on it would be making it up. What you can do is follow it and tell us the price you care about — we will email you when it gets there.
🔔 Email meFree · no card
Charlie informs, it doesn't advise. No information should be taken as a recommendation to buy or sell.