Roper(ROP) - 2024 Q4 - Annual Results

Revenue Growth - Roper Technologies reported a 16% increase in Q4 2024 revenue to $1.88 billion, with acquisition contribution at +9% and organic revenue growth at +7%[4] - For the full year 2024, total revenue grew 14% to$ 7.04 billion, driven by 6% organic growth and 8% from acquisitions[4] - Roper anticipates total revenue growth of over 10% for 2025, with organic revenue growth expected to be between 6% and 7%[5] - Net revenues for Q4 2024 reached $1,877.1 million, a 16.4% increase from$ 1,613.5 million in Q4 2023[25] - Application Software segment revenues for Q4 2024 were $1,056.9 million, a 24.1% increase from$ 851.8 million in Q4 2023[26] Earnings Performance - GAAP net earnings for Q4 2024 increased 22% to $462 million, while adjusted net earnings rose 10% to$ 520 million[4] - Net earnings from continuing operations for the year ended December 31, 2024, were $1,549.3 million, up from$ 1,368.4 million in 2023, reflecting a 13.2% increase[25] - Basic net earnings per share from continuing operations for the year ended December 31, 2024, were $14.47, compared to$ 12.83 in 2023, reflecting a 12.8% increase[25] - Net earnings from continuing operations for 2024 were $1,549.3 million, an increase of 13.2% compared to$ 1,368.4 million in 2023[27] Cash Flow - Free cash flow for 2024 reached $2.3 billion, marking a 16% increase and surpassing the$ 2 billion milestone for the first time[3] - Operating cash flow for FY 2024 was $2.39 billion, with adjusted operating cash flow increasing 16%[4] - Cash provided by operating activities from continuing operations was$ 2,393.2 million, up from $2,037.4 million in the previous year, reflecting a growth of 17.5%[27] - Cash used in investing activities from continuing operations increased significantly to$ 3,468.5 million in 2024, compared to $2,128.3 million in 2023, indicating a rise of 63.0%[28] - The company reported a net decrease in cash and cash equivalents of$ 26.1 million for 2024, a significant improvement compared to a decrease of $578.5 million in 2023[28] - Cash and cash equivalents at the end of 2024 were$ 188.2 million, down from $214.3 million at the end of 2023[28] Acquisitions and Investments - Roper deployed$ 3.6 billion in capital for high-quality vertical software acquisitions in 2024, including Procare Solutions and Transact Campus[3] - The company has a significant pipeline of attractive acquisition opportunities, positioning it well for continued growth[4] - Goodwill rose to $19,312.9 million in 2024, up from$ 17,118.8 million in 2023, indicating ongoing acquisitions[24] Liabilities and Assets - Total assets increased to $31,334.7 million as of December 31, 2024, compared to$ 28,167.5 million at the end of 2023[24] - The company reported a total current liabilities of $3,832.2 million, an increase from$ 2,963.2 million in 2023[24] - The company’s total liabilities increased to $12,467.1 million in 2024 from$ 10,722.7 million in 2023[24] Other Financial Metrics - Adjusted EBITDA for FY 2024 increased 13% to $2.83 billion, representing 40.2% of total revenue[4] - Amortization of intangible assets increased to$ 775.7 million in 2024 from $719.8 million in 2023, reflecting a rise of 7.8%[27] - Non-cash stock compensation rose to$ 145.9 million in 2024, compared to $123.5 million in 2023, marking an increase of 18.1%[27] - Cash dividends to stockholders increased to$ 321.9 million in 2024 from $290.2 million in 2023, representing an increase of 10.9%[28] - The company experienced a gain from equity investments of$ (234.6) million in 2024, compared to $(165.4) million in 2023, indicating a decline in investment performance[27]