Name: Roper Technologies Inc. (NASDAQ:ROP) | Income Statement
Creator: Stock Analysis on Net

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Roper Technologies Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net revenues	5,371,800)	5,777,800)	5,527,100)	5,366,800)	5,191,200)
Cost of sales	(1,619,000)	(1,860,400)	(1,984,100)	(1,939,700)	(1,911,700)
Gross profit	3,752,800)	3,917,400)	3,543,000)	3,427,100)	3,279,500)
Selling, general and administrative expenses	(2,228,300)	(2,337,700)	(2,111,900)	(1,928,700)	(1,883,100)
Impairment of intangible assets	—)	(99,500)	—)	—)	—)
Income from operations	1,524,500)	1,480,200)	1,431,100)	1,498,400)	1,396,400)
Interest expense, net	(192,400)	(234,100)	(218,900)	(186,600)	(182,100)
Loss on extinguishment of debt	—)	—)	—)	—)	(15,900)
Other income (expense), net	(50,100)	24,900)	(2,900)	(5,100)	—)
Gain on disposal of businesses	—)	—)	—)	920,700)	—)
Earnings before income taxes	1,282,000)	1,271,000)	1,209,300)	2,227,400)	1,198,400)
Income taxes	(296,400)	(288,400)	(259,600)	(459,500)	(254,000)
Net earnings from continuing operations	985,600)	982,600)	949,700)	1,767,900)	944,400)
Earnings from discontinued operations, net of tax	202,800)	114,100)	—)	—)	—)
Gain on disposition of discontinued operations, net of tax	3,356,300)	55,900)	—)	—)	—)
Net earnings from discontinued operations	3,559,100)	170,000)	—)	—)	—)
Net earnings	4,544,700)	1,152,600)	949,700)	1,767,900)	944,400)

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).

Revenue exhibited a steady growth trajectory from 2018 through 2021, peaking at approximately $5.78 billion before experiencing a contraction to $5.37 billion in 2022. Despite this fluctuation in top-line revenue, gross profit margins demonstrated a consistent upward trend, improving from approximately 63% in 2018 to 70% by 2022. This progression indicates an increase in production efficiency or a strategic shift toward higher-margin revenue streams.

Operating Performance: Income from operations remained remarkably stable over the five-year period, fluctuating within a narrow range between $1.39 billion and $1.52 billion. Selling, general, and administrative expenses grew in tandem with revenue until 2021, followed by a reduction in 2022 that aligned with the decrease in net revenues.
Impact of Non-Recurring Items: Total net earnings were heavily influenced by significant non-operating gains. A gain on the disposal of businesses in 2019 and a substantial gain on the disposition of discontinued operations in 2022—amounting to approximately $3.36 billion—created significant spikes in net income that diverge from core operational performance.
Core Profitability Trends: Net earnings from continuing operations showed minimal volatility, remaining between $944 million and $986 million throughout the period. This suggests that the core business model maintains a consistent level of profitability, independent of the strategic divestitures that characterized the overall net earnings figures.
Financial Obligations and Tax Obligations: Interest expenses peaked in 2021 at $234 million before declining to $192 million in 2022. Income tax expenses remained relatively consistent in relation to earnings before income taxes, reflecting a stable tax environment for continuing operations.

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