Roper Technologies Inc

ROP: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Roper Technologies: High Acquisition Multiples Weigh on Returns; Initiating With a $460 FVE

Alex Medow

Jul 9, 2025

We initiate coverage of Roper Technologies, a serial acquirer of asset-light software businesses. Roper uses a decentralized business model, whereby each portfolio company operates independently. Roper seeks to compound free cash flow by deploying all excess cash to acquire additional businesses.

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Roper Technologies Inc

Roper Technologies: High Acquisition Multiples Weigh on Returns; Initiating With a $460 FVE

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