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Stock Analysis on Net

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
Quarterly Data

Roper Technologies Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Cash and cash equivalents 1.06 5.33 4.35 2.94 7.77 11.36 12.63 1.48 1.49 1.42 1.39 1.28 1.28 9.77 5.51 3.92 1.81 2.02 2.55 2.39 2.38 2.75 2.60
Accounts receivable, net 2.65 2.49 2.32 2.69 2.58 2.48 2.95 3.54 3.16 3.37 3.32 3.59 3.27 3.86 3.93 4.37 3.91 4.39 4.08 4.60 4.41 4.36 4.48
Inventories, net 0.43 0.43 0.42 0.41 0.41 0.36 0.79 0.74 0.73 0.89 0.86 0.83 0.91 1.13 1.14 1.10 1.15 1.28 1.35 1.25 1.39 1.31 1.54
Income taxes receivable 0.20 0.19 0.09 0.23 0.14 0.08 0.07 0.12 0.11 0.12 0.06 0.09 0.18 0.12 0.11 0.10 0.20 0.22 0.12 0.14 0.32 0.31 0.33
Unbilled receivables 0.40 0.39 0.37 0.34 0.40 0.42 0.43 0.40 0.43 1.16 1.12 1.01 1.06 1.18 1.24 1.01 1.11 1.30 1.26 1.11 1.16 1.17 1.12
Other current assets 0.60 0.65 0.66 0.56 0.57 0.61 0.63 0.60 0.57 0.58 0.54 0.50 0.52 0.54 0.61 0.54 0.57 0.56 0.59 0.52 0.55 0.53 0.60
Current assets held for sale 0.00 0.00 0.00 0.00 4.49 4.38 0.00 3.33 3.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.33 0.31 0.34 0.55 0.34 0.32 0.00
Current assets 5.34% 9.49% 8.23% 7.16% 16.36% 19.69% 17.50% 10.21% 10.01% 7.54% 7.29% 7.29% 7.21% 16.61% 12.53% 11.04% 9.09% 10.07% 10.29% 10.56% 10.55% 10.75% 10.67%
Property, plant and equipment, net 0.35 0.34 0.32 0.32 0.34 0.30 0.39 0.43 0.45 0.53 0.56 0.59 0.62 0.68 0.74 0.77 0.80 0.84 0.86 0.84 0.85 0.90 1.00
Goodwill 60.48 58.27 58.83 59.10 56.04 53.52 54.98 59.44 58.96 60.54 60.35 59.92 59.86 56.66 59.17 59.72 60.31 60.71 60.76 61.29 61.67 61.12 63.02
Other intangible assets, net 29.60 28.11 29.01 29.76 25.59 24.85 25.18 27.78 28.43 29.11 29.60 30.00 30.11 23.57 24.94 25.78 26.55 24.79 24.44 25.19 25.50 25.81 24.43
Deferred taxes 0.18 0.18 0.22 0.21 0.19 0.18 0.40 0.43 0.44 0.44 0.43 0.43 0.40 0.48 0.52 0.53 0.51 0.58 0.60 0.34 0.18 0.19 0.22
Equity investments 2.61 2.15 1.97 1.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other assets 1.44 1.46 1.43 1.47 1.47 1.45 1.56 1.71 1.72 1.85 1.77 1.77 1.79 2.00 2.10 2.16 2.21 2.40 2.44 0.66 0.67 0.65 0.66
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.53 0.61 0.62 1.10 0.59 0.57 0.00
Noncurrent assets 94.66% 90.51% 91.77% 92.84% 83.64% 80.31% 82.50% 89.79% 89.99% 92.46% 92.71% 92.71% 92.79% 83.39% 87.47% 88.96% 90.91% 89.93% 89.71% 89.44% 89.45% 89.25% 89.33%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The balance sheet composition reveals a highly specialized asset structure characterized by a dominant concentration of noncurrent assets, which typically range between 80% and 95% of total assets. The overall profile indicates an asset-light operational model with a strategic focus on the acquisition of intangible value rather than physical infrastructure.

Intangible Asset Concentration
Goodwill and other intangible assets constitute the vast majority of the asset base. Goodwill has remained relatively stable, generally fluctuating between 53% and 63% of total assets, while other intangible assets typically range from 23% to 30%. Combined, these two categories often represent over 80% of total assets, highlighting a growth strategy heavily reliant on acquisitions and the integration of intellectual property.
Fixed Asset Trends
Property, plant, and equipment have seen a consistent downward trend as a percentage of total assets. Starting at 1.00% in March 2018, this figure declined to 0.35% by September 2023. This contraction underscores a sustained shift toward an asset-light business model, minimizing reliance on physical capital.
Liquidity and Cash Management
Cash and cash equivalents exhibit significant volatility. While levels were generally low (between 1% and 3%) for much of the observed period, substantial spikes occurred in June 2020 (9.77%) and peaked in March 2022 at 12.63%. Such fluctuations suggest cyclical patterns of capital accumulation followed by strategic deployments, likely for acquisitions or debt management, as seen in the return to 1.06% by September 2023.
Working Capital Efficiency
A gradual reduction in the relative weight of operational current assets is observed. Accounts receivable, net, declined from 4.48% in early 2018 to 2.65% by late 2023. Similarly, inventories, net, experienced a marked decrease from 1.54% to 0.43% over the same period. These trends suggest improvements in working capital efficiency or a shift in the business mix toward services with fewer inventory requirements.
Emerging Asset Classes and Dispositions
Recent changes include the emergence of equity investments, which were absent until December 2022 and grew to 2.61% of total assets by September 2023. Additionally, the presence of current assets held for sale in specific intervals, reaching as high as 4.49% in June 2022, indicates periodic divestiture activities as part of portfolio optimization.

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