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Roper Technologies Inc. (NASDAQ:ROP)

This company has been moved to the archive! The financial data has not been updated since November 2, 2023.

Common-Size Balance Sheet: Assets

Roper Technologies Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 2.94 1.48 1.28 3.92 2.39
Accounts receivable, net 2.69 3.54 3.59 4.37 4.60
Inventories, net 0.41 0.74 0.83 1.10 1.25
Income taxes receivable 0.23 0.12 0.09 0.10 0.14
Unbilled receivables 0.34 0.40 1.01 1.01 1.11
Other current assets 0.56 0.60 0.50 0.54 0.52
Current assets held for sale 0.00 3.33 0.00 0.00 0.55
Current assets 7.16% 10.21% 7.29% 11.04% 10.56%
Property, plant and equipment, net 0.32 0.43 0.59 0.77 0.84
Goodwill 59.10 59.44 59.92 59.72 61.29
Other intangible assets, net 29.76 27.78 30.00 25.78 25.19
Deferred taxes 0.21 0.43 0.43 0.53 0.34
Equity investment 1.98 0.00 0.00 0.00 0.00
Other assets 1.47 1.71 1.77 2.16 0.66
Assets held for sale 0.00 0.00 0.00 0.00 1.10
Noncurrent assets 92.84% 89.79% 92.71% 88.96% 89.44%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

The asset structure is characterized by a significant concentration in non-current assets, which consistently account for between 88.96% and 92.84% of total assets from 2018 to 2022. This distribution indicates a business model heavily reliant on acquired intangible value rather than physical capital.

Intangible Asset Composition
Goodwill and other intangible assets represent the vast majority of the balance sheet. Goodwill has remained stable, fluctuating minimally between 59.10% and 61.29%. Other intangible assets have shown slight volatility, ranging from 25.19% in 2018 to a peak of 30.00% in 2020, before settling at 29.76% by 2022. Combined, these two categories consistently exceed 84% of total assets.
Current Asset Trends
A general downward trend is observed in the proportion of current assets, which decreased from 10.56% in 2018 to 7.16% in 2022. This decline is driven primarily by reductions in accounts receivable, which fell from 4.60% to 2.69%, and inventories, which declined from 1.25% to 0.41% over the five-year period. Cash and cash equivalents have fluctuated, ending the period at 2.94% of total assets.
Physical Capital and Infrastructure
Property, plant, and equipment, net, represent a negligible fraction of total assets and exhibit a continuous decline, moving from 0.84% in 2018 to 0.32% in 2022. This confirms an asset-light operational strategy where physical infrastructure plays a minimal role in the overall asset base.
Other Asset Observations
The appearance of equity investments at 1.98% in 2022 and the presence of assets held for sale in 2018 and 2021 indicate periodic portfolio adjustments. Unbilled receivables also showed a notable decrease, falling from 1.11% in 2018 to 0.34% in 2022.

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