Name: Roper Technologies Inc. (NASDAQ:ROP) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Roper Technologies Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	792,800)	351,500)	308,300)	709,700)	364,400)
Accounts receivable, net	724,500)	839,400)	863,000)	791,600)	700,800)
Inventories, net	111,300)	176,100)	198,400)	198,600)	190,800)
Income taxes receivable	61,000)	27,700)	21,900)	18,500)	21,700)
Unbilled receivables	91,500)	95,300)	241,700)	183,500)	169,400)
Other current assets	151,300)	142,500)	119,000)	97,600)	80,000)
Current assets held for sale	—)	788,600)	—)	—)	83,600)
Current assets	1,932,400)	2,421,100)	1,752,300)	1,999,500)	1,610,700)
Property, plant and equipment, net	85,300)	102,800)	140,600)	139,900)	128,700)
Goodwill	15,946,100)	14,094,500)	14,395,200)	10,815,400)	9,346,800)
Other intangible assets, net	8,030,700)	6,588,500)	7,206,900)	4,667,700)	3,842,100)
Deferred taxes	55,900)	101,100)	104,000)	95,600)	52,200)
Equity investment	535,000)	—)	—)	—)	—)
Other assets	395,400)	405,900)	425,800)	390,800)	101,100)
Assets held for sale	—)	—)	—)	—)	167,900)
Noncurrent assets	25,048,400)	21,292,800)	22,272,500)	16,109,400)	13,638,800)
Total assets	26,980,800)	23,713,900)	24,024,800)	18,108,900)	15,249,500)

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).

Total assets exhibited a substantial upward trajectory between 2018 and 2022, increasing from $15.25 billion to $26.98 billion. This growth is predominantly driven by the expansion of noncurrent assets, which rose from $13.64 billion to $25.05 billion over the five-year period. The asset composition indicates a strategic shift toward intangible value and acquisition-led growth rather than investment in physical infrastructure.

Inorganic Growth and Intangible Assets: A significant expansion in goodwill and other intangible assets is observed, signaling an aggressive acquisition strategy. Goodwill increased from $9.35 billion in 2018 to $15.95 billion in 2022. Similarly, other net intangible assets more than doubled, rising from $3.84 billion to $8.03 billion. These two categories constitute the vast majority of the total asset base, reflecting a business model centered on the acquisition of intellectual property and established market positions.
Asset-Light Operational Strategy: A consistent downward trend is evident in property, plant, and equipment (PP&E), which decreased from $128.7 million in 2018 to $85.3 million in 2022. This reduction, coupled with the massive growth in intangibles, underscores an asset-light operational model where the company minimizes investment in physical fixed assets in favor of scalable, software- or service-based assets.
Current Asset and Liquidity Dynamics: Current assets fluctuated between $1.61 billion and $2.42 billion, with the peak in 2021 largely attributed to a temporary increase in current assets held for sale ($788.6 million). Cash and cash equivalents remained volatile, starting at $364.4 million in 2018, dipping to $308.3 million in 2020, and recovering to a period high of $792.8 million by the end of 2022. Net accounts receivable remained relatively stable, peaking at $863 million in 2020 before moderating to $724.5 million in 2022.
Inventory and Working Capital Management: A gradual decline in net inventories is observable, falling from $190.8 million in 2018 to $111.3 million in 2022. This trend suggests improved inventory turnover or a strategic shift in the product mix toward services or digital offerings that require fewer physical stocks. Unbilled receivables also saw a marked decrease from a peak of $241.7 million in 2020 to $91.5 million in 2022, indicating changes in revenue recognition or billing efficiency.

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