Roper Technologies Announces Updated Segment Structure
Roper Technologies, Inc. (NYSE: ROP) announced on June 30, 2022, a restructuring of its reportable segments into three categories: Application Software, Network Software, and Technology Enabled Products. This change will be reflected in financial reports starting Q2 2022, with historical data recast accordingly. Additionally, Roper agreed to sell a majority stake in its industrial businesses, categorizing them as discontinued operations. The company emphasizes the use of non-GAAP financial information for enhanced transparency.
- Restructured reportable segments may provide clearer financial insights.
- A significant portion of industrial operations sold, allowing focus on core segments.
- Non-GAAP measures enhance transparency for investors.
- Transition to new segments may cause temporary confusion among investors.
- Sale of industrial operations could reduce overall revenue diversity.
SARASOTA, Fla., June 30, 2022 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP) announced today that it has updated its reportable segments. The three updated reportable segments are as follows:
- Application Software – Aderant, CBORD, CliniSys, Data Innovations, Deltek, IntelliTrans, PowerPlan, Strata, Vertafore
- Network Software – ConstructConnect, DAT, Foundry, iPipeline, iTradeNetwork, Loadlink, MHA, SHP, SoftWriters
- Technology Enabled Products – CIVCO Medical Solutions, FMI, Inovonics, IPA, Neptune, Northern Digital, rf IDEAS, Verathon
Beginning with the second quarter of 2022, the Company will report its quarterly and full year financial statements under the new segment structure with prior periods recast to reflect the change.
Discontinued Operations
On June 1, 2022, Roper announced an agreement to sell a majority stake in its industrial businesses, including its entire historical Process Technologies reportable segment (AMOT, CCC, Cornell, FTI, Metrix, PAC, Roper Pump, and Viatran) and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment (Alpha, Dynisco, Hansen, Hardy, Logitech, Struers, Technolog, and Uson). Beginning in the second quarter of 2022, Roper plans to report the results of these businesses as discontinued operations.
Use of Non-GAAP Financial Information
The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.
Unaudited Historical Financial Information
The Company has included below unaudited historical financial segment information recast to give effect to the new reportable segment structure.
| Table 1: GAAP Segment Financials ($M) | |||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||
| 2019 A | 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||||
| FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 1,573 | $ | 402 | $ | 395 | $ | 444 | $ | 545 | $ | 1,786 | $ | 573 | $ | 588 | $ | 600 | $ | 605 | $ | 2,367 | $ | 628 | |||||||||||
| Network Software | 889 | 263 | 257 | 266 | 283 | 1,069 | 287 | 298 | 316 | 323 | 1,224 | 338 | |||||||||||||||||||||||
| Technology Enabled Products | 1,095 | 292 | 300 | 292 | 283 | 1,167 | 295 | 304 | 316 | 329 | 1,243 | 313 | |||||||||||||||||||||||
| Total | $ | 3,558 | $ | 957 | $ | 952 | $ | 1,002 | $ | 1,111 | $ | 4,022 | $ | 1,155 | $ | 1,190 | $ | 1,232 | $ | 1,257 | $ | 4,834 | $ | 1,280 | |||||||||||
| Gross Profit | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 1,058 | $ | 269 | $ | 272 | $ | 306 | $ | 375 | $ | 1,222 | $ | 397 | $ | 407 | $ | 418 | $ | 420 | $ | 1,643 | $ | 435 | |||||||||||
| Network Software | 764 | 218 | 213 | 221 | 236 | 888 | 239 | 250 | 267 | 272 | 1,029 | 285 | |||||||||||||||||||||||
| Technology Enabled Products | 652 | 178 | 191 | 179 | 170 | 718 | 180 | 182 | 186 | 188 | 735 | 177 | |||||||||||||||||||||||
| Total | $ | 2,474 | $ | 664 | $ | 676 | $ | 707 | $ | 781 | $ | 2,828 | $ | 816 | $ | 839 | $ | 872 | $ | 880 | $ | 3,407 | $ | 897 | |||||||||||
| Operating Profit B | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 406 | $ | 97 | $ | 113 | $ | 125 | $ | 132 | $ | 468 | $ | 154 | $ | 153 | $ | 164 | $ | 162 | $ | 633 | $ | 172 | |||||||||||
| Network Software | 355 | 91 | 87 | 97 | 107 | 383 | 106 | 111 | 126 | 134 | 477 | 137 | |||||||||||||||||||||||
| Technology Enabled Products | 370 | 101 | 114 | 105 | 92 | 412 | 106 | 102 | 104 | 103 | 415 | 100 | |||||||||||||||||||||||
| Total | $ | 1,131 | $ | 290 | $ | 314 | $ | 327 | $ | 331 | $ | 1,263 | $ | 365 | $ | 367 | $ | 395 | $ | 399 | $ | 1,525 | $ | 409 | |||||||||||
| Table 2: Adjusted Segment Financials ($M) | |||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||
| 2019 A | 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||||
| FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 1,574 | $ | 402 | $ | 395 | $ | 447 | $ | 550 | $ | 1,794 | $ | 574 | $ | 588 | $ | 600 | $ | 605 | $ | 2,368 | $ | 628 | |||||||||||
| Network Software | 899 | 266 | 258 | 266 | 283 | 1,073 | 287 | 298 | 316 | 323 | 1,224 | 338 | |||||||||||||||||||||||
| Technology Enabled Products | 1,095 | 292 | 300 | 292 | 283 | 1,167 | 295 | 304 | 316 | 329 | 1,243 | 313 | |||||||||||||||||||||||
| Total | $ | 3,568 | $ | 959 | $ | 953 | $ | 1,006 | $ | 1,116 | $ | 4,034 | $ | 1,156 | $ | 1,190 | $ | 1,232 | $ | 1,257 | $ | 4,835 | $ | 1,280 | |||||||||||
| Gross Profit | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 1,058 | $ | 269 | $ | 272 | $ | 309 | $ | 380 | $ | 1,230 | $ | 398 | $ | 407 | $ | 418 | $ | 420 | $ | 1,644 | $ | 435 | |||||||||||
| Network Software | 774 | 220 | 214 | 221 | 236 | 892 | 239 | 250 | 267 | 272 | 1,029 | 285 | |||||||||||||||||||||||
| Technology Enabled Products | 652 | 178 | 191 | 179 | 170 | 718 | 180 | 182 | 186 | 188 | 735 | 177 | |||||||||||||||||||||||
| Total | $ | 2,485 | $ | 667 | $ | 678 | $ | 710 | $ | 786 | $ | 2,840 | $ | 817 | $ | 839 | $ | 872 | $ | 880 | $ | 3,408 | $ | 897 | |||||||||||
| Operating Profit B | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 406 | $ | 97 | $ | 113 | $ | 128 | $ | 135 | $ | 474 | $ | 153 | $ | 152 | $ | 163 | $ | 161 | $ | 628 | $ | 171 | |||||||||||
| Network Software | 365 | 94 | 89 | 97 | 107 | 386 | 106 | 111 | 126 | 134 | 477 | 137 | |||||||||||||||||||||||
| Technology Enabled Products | 370 | 101 | 114 | 105 | 92 | 412 | 106 | 102 | 104 | 103 | 415 | 100 | |||||||||||||||||||||||
| Total | $ | 1,141 | $ | 292 | $ | 315 | $ | 330 | $ | 334 | $ | 1,272 | $ | 364 | $ | 365 | $ | 393 | $ | 398 | $ | 1,521 | $ | 407 | |||||||||||
| Segment EBITDA | |||||||||||||||||||||||||||||||||||
| Application Software | $ | 633 | $ | 155 | $ | 171 | $ | 200 | $ | 241 | $ | 767 | $ | 258 | $ | 257 | $ | 267 | $ | 265 | $ | 1,047 | $ | 277 | |||||||||||
| Network Software | 485 | 134 | 129 | 139 | 149 | 551 | 147 | 153 | 168 | 174 | 642 | 178 | |||||||||||||||||||||||
| Technology Enabled Products | 408 | 110 | 122 | 114 | 100 | 445 | 114 | 110 | 112 | 111 | 448 | 107 | |||||||||||||||||||||||
| Total | $ | 1,526 | $ | 399 | $ | 422 | $ | 453 | $ | 490 | $ | 1,764 | $ | 519 | $ | 520 | $ | 547 | $ | 551 | $ | 2,136 | $ | 563 | |||||||||||
| Table 3: Adjusted Revenue Growth | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Application Software | ||||||||||||||||||||||||||||||||
| 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||
| Organic Growth | 5 | % | 1 | % | (1) | % | (2) | % | 1 | % | 3 | % | 9 | % | 10 | % | 10 | % | 8 | % | 9 | % | ||||||||||
| Acquisitions/Divestitures | 2 | % | 2 | % | 12 | % | 36 | % | 13 | % | 39 | % | 38 | % | 23 | % | — | % | 23 | % | 1 | % | ||||||||||
| Foreign Exchange | — | % | (1) | % | 1 | % | 1 | % | — | % | 1 | % | 2 | % | 1 | % | — | % | 1 | % | (1) | % | ||||||||||
| Total Revenue Growth | 6 | % | 2 | % | 11 | % | 35 | % | 14 | % | 43 | % | 49 | % | 34 | % | 10 | % | 32 | % | 9 | % | ||||||||||
| Network Software | ||||||||||||||||||||||||||||||||
| 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||
| Organic Growth | 3 | % | 2 | % | — | % | 4 | % | 2 | % | 3 | % | 10 | % | 16 | % | 13 | % | 11 | % | 16 | % | ||||||||||
| Acquisitions/Divestitures | 34 | % | 24 | % | 13 | % | 3 | % | 17 | % | 4 | % | 3 | % | 1 | % | — | % | 2 | % | 2 | % | ||||||||||
| Foreign Exchange | — | % | — | % | — | % | — | % | — | % | 1 | % | 2 | % | 1 | % | — | % | 1 | % | — | % | ||||||||||
| Total Revenue Growth | 36 | % | 26 | % | 13 | % | 8 | % | 19 | % | 8 | % | 15 | % | 19 | % | 14 | % | 14 | % | 18 | % | ||||||||||
| Technology Enabled Products | ||||||||||||||||||||||||||||||||
| 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||
| Organic Growth | 10 | % | 7 | % | 6 | % | 4 | % | 7 | % | — | % | — | % | 8 | % | 16 | % | 6 | % | 7 | % | ||||||||||
| Foreign Exchange | — | % | (1) | % | — | % | 1 | % | — | % | 1 | % | 1 | % | — | % | — | % | 1 | % | — | % | ||||||||||
| Total Revenue Growth | 9 | % | 6 | % | 6 | % | 5 | % | 7 | % | 1 | % | 1 | % | 8 | % | 16 | % | 7 | % | 6 | % | ||||||||||
| Roper Consolidated | ||||||||||||||||||||||||||||||||
| 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||
| Organic Growth | 6 | % | 3 | % | 1 | % | 2 | % | 3 | % | 2 | % | 6 | % | 11 | % | 12 | % | 8 | % | 10 | % | ||||||||||
| Acquisitions/Divestitures | 9 | % | 6 | % | 9 | % | 16 | % | 10 | % | 17 | % | 17 | % | 11 | % | — | % | 11 | % | 1 | % | ||||||||||
| Foreign Exchange | — | % | (1) | % | — | % | 1 | % | — | % | 1 | % | 2 | % | 1 | % | — | % | 1 | % | — | % | ||||||||||
| Total Revenue Growth | 14 | % | 9 | % | 10 | % | 19 | % | 13 | % | 21 | % | 25 | % | 23 | % | 13 | % | 20 | % | 11 | % | ||||||||||
| Table 4: Adjusted Segment & Consolidated Financials Reconciliation | |||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||
| Application Software Reconciliation ($M) | |||||||||||||||||||||||||||||||||||||||||||||||
| 2019 | 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||
| FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||||||||||||||||
| GAAP Revenue | $ | 1,573 | $ | 402 | $ | 395 | $ | 444 | $ | 545 | $ | 1,786 | $ | 573 | $ | 588 | $ | 600 | $ | 605 | $ | 2,367 | $ | 628 | |||||||||||||||||||||||
| Purchase accounting adjustment to acquired deferred revenue | 1 | — | — | 3 | 5 | 8 | 1 | — | — | — | 1 | — | |||||||||||||||||||||||||||||||||||
| Adjusted Revenue | $ | 1,574 | $ | 402 | $ | 395 | $ | 447 | $ | 550 | $ | 1,794 | $ | 574 | $ | 588 | $ | 600 | $ | 605 | $ | 2,368 | $ | 628 | |||||||||||||||||||||||
| GAAP Gross Profit | $ | 1,058 | $ | 269 | $ | 272 | $ | 306 | $ | 375 | $ | 1,222 | $ | 397 | $ | 407 | $ | 418 | $ | 420 | $ | 1,643 | $ | 435 | |||||||||||||||||||||||
| Purchase accounting adjustment to acquired deferred revenue | 1 | — | — | 3 | 5 | 8 | 1 | — | — | — | 1 | — | |||||||||||||||||||||||||||||||||||
| Adjusted Gross Profit | $ | 1,058 | $ | 269 | $ | 272 | $ | 309 | $ | 380 | $ | 1,230 | $ | 398 | $ | 407 | $ | 418 | $ | 420 | $ | 1,644 | $ | 435 | |||||||||||||||||||||||
| Adjusted Gross Margin | 67.2 | % | 66.9 | % | 69.0 | % | 69.1 | % | 69.1 | % | 68.6 | % | 69.4 | % | 69.3 | % | 69.7 | % | 69.4 | % | 69.4 | % | 69.3 | % | |||||||||||||||||||||||
| GAAP Operating Profit B | $ | 406 | $ | 97 | $ | 113 | $ | 125 | $ | 132 | $ | 468 | $ | 154 | $ | 153 | $ | 164 | $ | 162 | $ | 633 | $ | 172 | |||||||||||||||||||||||
| Purchase accounting adjustment to acquired deferred revenue & commission expense | — | — | — | 3 | 3 | 6 | — | (1) | (1) | (1) | (5) | (1) | |||||||||||||||||||||||||||||||||||
| Adjusted Operating Profit | $ | 406 | $ | 97 | $ | 113 | $ | 128 | $ | 135 | $ | 474 | $ | 153 | $ | 152 | $ | 163 | $ | 161 | $ | 628 | $ | 171 | |||||||||||||||||||||||
| Adjusted Operating Margin | 25.8 | % | 24.2 | % | 28.7 | % | 28.6 | % | 24.6 | % | 26.4 | % | 26.7 | % | 25.9 | % | 27.1 | % | 26.5 | % | 26.5 | % | 27.2 | % | |||||||||||||||||||||||
| Adjusted Operating Profit | $ | 406 | $ | 97 | $ | 113 | $ | 128 | $ | 135 | $ | 474 | $ | 153 | $ | 152 | $ | 163 | $ | 161 | $ | 628 | $ | 171 | |||||||||||||||||||||||
| Amortization | 207 | 53 | 53 | 67 | 98 | 271 | 98 | 98 | 98 | 99 | 393 | 100 | |||||||||||||||||||||||||||||||||||
| Depreciation | 19 | 5 | 5 | 5 | 8 | 22 | 7 | 7 | 6 | 6 | 26 | 6 | |||||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 633 | $ | 155 | $ | 171 | $ | 200 | $ | 241 | $ | 767 | $ | 258 | $ | 257 | $ | 267 | $ | 265 | $ | 1,047 | $ | 277 | |||||||||||||||||||||||
| Adjusted EBITDA Margin | 40.2 | % | 38.7 | % | 43.3 | % | 44.7 | % | 43.8 | % | 42.8 | % | 44.9 | % | 43.7 | % | 44.5 | % | 43.8 | % | 44.2 | % | 44.1 | % | |||||||||||||||||||||||
| Network Software Reconciliation ($M) | |||||||||||||||||||||||||||||||||||||||||||||||
| 2019 | 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||
| FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||||||||||||||||
| GAAP Revenue | $ | 889 | $ | 263 | $ | 257 | $ | 266 | $ | 283 | $ | 1,069 | $ | 287 | $ | 298 | $ | 316 | $ | 323 | $ | 1,224 | $ | 338 | |||||||||||||||||||||||
| Purchase accounting adjustment to acquired deferred revenue | 10 | 2 | 1 | — | — | 4 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Adjusted Revenue | $ | 899 | $ | 266 | $ | 258 | $ | 266 | $ | 283 | $ | 1,073 | $ | 287 | $ | 298 | $ | 316 | $ | 323 | $ | 1,224 | $ | 338 | |||||||||||||||||||||||
| GAAP Gross Profit | $ | 764 | $ | 218 | $ | 213 | $ | 221 | $ | 236 | $ | 888 | $ | 239 | $ | 250 | $ | 267 | $ | 272 | $ | 1,029 | $ | 285 | |||||||||||||||||||||||
| Purchase accounting adjustment to acquired deferred revenue | 10 | 2 | 1 | — | — | 4 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Adjusted Gross Profit | $ | 774 | $ | 220 | $ | 214 | $ | 221 | $ | 236 | $ | 892 | $ | 239 | $ | 250 | $ | 267 | $ | 272 | $ | 1,029 | $ | 285 | |||||||||||||||||||||||
| Adjusted Gross Margin | 86.1 | % | 82.9 | % | 83.1 | % | 83.1 | % | 83.3 | % | 83.1 | % | 83.3 | % | 84.0 | % | 84.6 | % | 84.4 | % | 84.1 | % | 84.2 | % | |||||||||||||||||||||||
| GAAP Operating Profit B | $ | 355 | $ | 91 | $ | 87 | $ | 97 | $ | 107 | $ | 383 | $ | 106 | $ | 111 | $ | 126 | $ | 134 | $ | 477 | $ | 137 | |||||||||||||||||||||||
| Purchase accounting adjustment to acquired deferred revenue | 10 | 2 | 1 | — | — | 4 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Adjusted Operating Profit | $ | 365 | $ | 94 | $ | 89 | $ | 97 | $ | 107 | $ | 386 | $ | 106 | $ | 111 | $ | 126 | $ | 134 | $ | 477 | $ | 137 | |||||||||||||||||||||||
| Adjusted Operating Margin | 40.6 | % | 35.2 | % | 34.3 | % | 36.3 | % | 37.9 | % | 36.0 | % | 36.7 | % | 37.3 | % | 40.0 | % | 41.4 | % | 39.0 | % | 40.4 | % | |||||||||||||||||||||||
| Adjusted Operating Profit | $ | 365 | $ | 94 | $ | 89 | $ | 97 | $ | 107 | $ | 386 | $ | 106 | $ | 111 | $ | 126 | $ | 134 | $ | 477 | $ | 137 | |||||||||||||||||||||||
| Amortization | 112 | 38 | 38 | 40 | 39 | 156 | 39 | 39 | 39 | 39 | 156 | 40 | |||||||||||||||||||||||||||||||||||
| Depreciation | 8 | 2 | 2 | 2 | 2 | 9 | 2 | 2 | 2 | 2 | 8 | 2 | |||||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 485 | $ | 134 | $ | 129 | $ | 139 | $ | 149 | $ | 551 | $ | 147 | $ | 153 | $ | 168 | $ | 174 | $ | 642 | $ | 178 | |||||||||||||||||||||||
| Adjusted EBITDA Margin | 53.9 | % | 50.5 | % | 50.0 | % | 52.1 | % | 52.6 | % | 51.4 | % | 51.1 | % | 51.3 | % | 53.0 | % | 54.1 | % | 52.4 | % | 52.7 | % | |||||||||||||||||||||||
| Technology Enabled Products Reconciliation ($M) | |||||||||||||||||||||||||||||||||||||||||||||||
| 2019 A | 2020 | 2021 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||
| FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||||||||||||||||||||||||||
| GAAP Revenue | $ | 1,095 | $ | 292 | $ | 300 | $ | 292 | $ | 283 | $ | 1,167 | $ | 295 | $ | 304 | $ | 316 | $ | 329 | $ | 1,243 | $ | 313 | |||||||||||||||||||||||
| GAAP Gross Profit | $ | 652 | $ | 178 | $ | 191 | $ | 179 | $ | 170 | $ | 718 | $ | 180 | $ | 182 | $ | 186 | $ | 188 | $ | 735 | $ | 177 | |||||||||||||||||||||||
| GAAP Gross Margin | 59.5 | % | 60.8 | % | 63.6 | % | 61.4 | % | 60.1 | % | 61.5 | % | 60.9 | % | 59.8 | % | 58.8 | % | 57.3 | % | 59.1 | % | 56.5 | % | |||||||||||||||||||||||
| GAAP Operating Profit B | $ | 370 | $ | 101 | $ | 114 | $ | 105 | $ | 92 | $ | 412 | $ | 106 | $ | 102 | $ | 104 | $ | 103 | $ | 415 | $ | 100 | |||||||||||||||||||||||
| GAAP Operating Margin | 33.8 | % | 34.7 | % | 37.8 | % | 36.1 | % | 32.4 | % | 35.3 | % | 35.8 | % | 33.6 | % | 33.0 | % | 31.5 | % | 33.4 | % | 31.8 | % | |||||||||||||||||||||||
| GAAP Operating Profit | $ | 370 | $ | 101 | $ | 114 | $ | 105 | $ | 92 | $ | 412 | $ | 106 | $ | 102 | $ | 104 | $ | 103 | $ | 415 | $ | 100 | |||||||||||||||||||||||
| Amortization | 29 | 6 | 6 | 6 | 6 | 24 | 6 | 6 | 6 | 6 | 23 | 6 | |||||||||||||||||||||||||||||||||||
| Depreciation | 9 | 2 | 2 | 2 | 2 | 9 | 2 | 2 | 2 | 2 | 9 | 2 | |||||||||||||||||||||||||||||||||||
| EBITDA | $ | 408 | $ | 110 | $ | 122 | $ | 114 | $ | 100 | $ | 445 | $ | 114 | $ | 110 | $ | 112 | $ | 111 | $ | 448 | $ | 107 | |||||||||||||||||||||||
| EBITDA Margin | 37.2 | % | 37.6 | % | 40.6 | % | 39.0 | % | 35.3 | % | 38.2 | % | 38.6 | % | 36.3 | % | 35.5 | % | 33.9 | % | 36.0 | % | 34.3 | % | |||||||||||||||||||||||
- For the year ended December 31, 2019, the Technology Enabled Products segment excludes the results of the divestitures completed in 2019 for (i) the Scientific Imaging businesses, sold to Teledyne on February 5, 2019 and (ii) Gatan, sold to AMETEK on October 29, 2019.
- Segment operating profit is before unallocated corporate general and administrative expenses.
Note: Numbers may not foot due to rounding.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500 and Fortune 500. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess free cash flow toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.
Contact Information:
Investor Relations
941-556-2601
investor-relations@ropertech.com
The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,” “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include any ongoing impacts of the COVID-19 pandemic on our business, operations, financial results and liquidity, which will depend on numerous evolving factors which we cannot accurately predict or assess, including: the duration and scope of the pandemic, new variants of the virus and the distribution and efficacy of vaccines; any negative impact on global and regional markets, economies and economic activity; actions governments, businesses and individuals take in response to the pandemic; the effects of the pandemic, including all of the foregoing, on our customers, suppliers, and business partners, and how quickly economies and demand for our products and services recover after the pandemic subsides. Such risks and uncertainties also include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, the newly acquired businesses, as well as complete any announced divestitures, including obtaining any required regulatory approvals with respect thereto. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, armed hostilities, incidents of terrorism, public health crises (such as the COVID-19 pandemic) or natural disasters, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, including as a result of the current inflationary environment and ongoing supply chain constraints, environmental compliance costs and liabilities, risks and cost associated with litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
FAQ
What are Roper Technologies' new reportable segments as of June 2022?
What major business change did Roper Technologies announce in June 2022?
How will Roper Technologies report its financials after the segment update?
What is the impact of Roper Technologies' segment restructuring on investors?
What does Roper Technologies emphasize about its financial reporting?
