Price to Book Value (P/BV)
since 2005
Calculation
Roper Technologies Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2023 | 2.84 | = | 428.99 | ÷ | 150.95 | 150.95 | = | 16,037,800 | ÷ | 106,243,275 | |
| Feb 22, 2022 | 4.01 | = | 439.21 | ÷ | 109.50 | 109.50 | = | 11,563,800 | ÷ | 105,602,835 | |
| Feb 22, 2021 | 3.84 | = | 383.92 | ÷ | 99.87 | 99.87 | = | 10,479,800 | ÷ | 104,939,597 | |
| Feb 28, 2020 | 3.93 | = | 351.70 | ÷ | 89.45 | 89.45 | = | 9,491,900 | ÷ | 106,109,664 | |
| Feb 25, 2019 | 4.28 | = | 319.35 | ÷ | 74.69 | 74.69 | = | 7,738,500 | ÷ | 103,607,782 | |
| Feb 23, 2018 | 4.21 | = | 281.14 | ÷ | 66.75 | 66.75 | = | 6,863,564 | ÷ | 102,826,454 | |
| Feb 27, 2017 | 3.70 | = | 210.04 | ÷ | 56.82 | 56.82 | = | 5,788,865 | ÷ | 101,874,232 | |
| Feb 26, 2016 | 3.25 | = | 170.34 | ÷ | 52.43 | 52.43 | = | 5,298,947 | ÷ | 101,064,624 | |
| Feb 20, 2015 | 3.55 | = | 168.30 | ÷ | 47.38 | 47.38 | = | 4,755,360 | ÷ | 100,356,523 | |
| Feb 21, 2014 | 3.19 | = | 134.92 | ÷ | 42.32 | 42.32 | = | 4,213,050 | ÷ | 99,547,874 | |
| Feb 25, 2013 | 3.25 | = | 121.30 | ÷ | 37.29 | 37.29 | = | 3,687,726 | ÷ | 98,891,400 | |
| Feb 24, 2012 | 2.87 | = | 94.58 | ÷ | 32.98 | 32.98 | = | 3,195,096 | ÷ | 96,892,635 | |
| Feb 25, 2011 | 2.88 | = | 83.21 | ÷ | 28.85 | 28.85 | = | 2,750,907 | ÷ | 95,336,634 | |
| Feb 26, 2010 | 2.14 | = | 55.44 | ÷ | 25.85 | 25.85 | = | 2,421,490 | ÷ | 93,684,013 | |
| Mar 2, 2009 | 1.70 | = | 37.99 | ÷ | 22.32 | 22.32 | = | 2,003,738 | ÷ | 89,765,578 | |
| Feb 29, 2008 | 2.81 | = | 56.40 | ÷ | 20.04 | 20.04 | = | 1,789,806 | ÷ | 89,306,840 | |
| Mar 1, 2007 | 3.14 | = | 53.15 | ÷ | 16.91 | 16.91 | = | 1,486,839 | ÷ | 87,911,964 | |
| Mar 16, 2006 | 3.20 | = | 46.40 | ÷ | 14.50 | 14.50 | = | 1,249,788 | ÷ | 86,207,669 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Roper Technologies Inc. Annual Report.
The financial trajectory from 2006 to 2023 is characterized by a consistent long-term increase in both equity value and market capitalization. While the share price has experienced periods of volatility, the book value per share has demonstrated uninterrupted annual growth, reflecting a steady accumulation of net assets over the seventeen-year period.
- Book Value Progression
- A sustained upward trend in book value per share is evident, rising from 14.50 USD in 2006 to 150.95 USD by 2023. This growth is linear and persistent, indicating a disciplined approach to capital retention or asset acquisition regardless of external market fluctuations.
- Price to Book Value (P/BV) Volatility
- The P/BV ratio has fluctuated between a low of 1.70 in 2009 and a peak of 4.28 in 2019. A significant valuation contraction occurred in 2009, coinciding with a sharp decline in share price, which reduced the multiple to its lowest point in the observed period. Following this trough, the ratio entered a recovery phase, returning to levels above 3.00 by 2013.
- Valuation Expansion Phase
- Between 2015 and 2022, the market applied a higher premium to the book value, with the P/BV ratio consistently remaining above 3.25 and peaking at 4.28 in 2019. This period indicates an expansion in market sentiment or an increase in the perceived quality and earning power of the underlying assets.
- Recent Valuation Adjustment
- In 2023, a notable decline in the P/BV ratio to 2.84 is observed. This contraction is primarily driven by a substantial increase in the book value per share, which rose from 109.50 USD in 2022 to 150.95 USD in 2023, outpacing the marginal change in share price. This suggests a convergence between the market price and the intrinsic accounting value of the company.
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Comparison to Competitors
Roper Technologies Inc., P/BV, long-term trends, comparison to competitors
| Roper Technologies Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Feb 27, 2023 | 2.84 | 48.89 | 8.87 | 4.69 | — | 3.31 | 2.54 |
| Feb 22, 2022 | 4.01 | 38.96 | 10.05 | 5.99 | 27.38 | 3.19 | 1.65 |
| Feb 22, 2021 | 3.84 | 28.33 | 7.15 | 4.57 | — | 3.61 | 1.35 |
| Feb 28, 2020 | 3.93 | 12.21 | 5.91 | 6.12 | — | 2.77 | 1.21 |
| Feb 25, 2019 | 4.28 | 8.93 | 9.33 | 5.00 | — | 4.66 | 1.33 |
| Feb 23, 2018 | 4.21 | 6.61 | 11.10 | 2.38 | — | 5.57 | 1.28 |
| Feb 27, 2017 | 3.70 | 4.81 | 7.63 | 2.48 | — | 4.26 | 1.44 |
| Feb 26, 2016 | 3.25 | 5.57 | 5.86 | 2.23 | — | 2.63 | 2.08 |
| Feb 20, 2015 | 3.55 | 5.53 | 8.22 | 2.24 | — | — | 2.56 |
| Feb 21, 2014 | 3.19 | 3.82 | — | 2.19 | — | — | 1.51 |
| Feb 25, 2013 | 3.25 | 4.74 | — | 1.97 | — | — | 1.63 |
| Feb 24, 2012 | 2.87 | 4.86 | — | 1.86 | — | — | 1.78 |
| Feb 25, 2011 | 2.88 | 5.91 | — | 2.73 | — | — | 1.64 |
| Feb 26, 2010 | 2.14 | 6.39 | — | 3.46 | — | — | 1.56 |
| Mar 2, 2009 | 1.70 | 4.37 | — | 3.83 | — | — | 2.20 |
| Feb 29, 2008 | 2.81 | 9.90 | — | 6.20 | — | — | 2.20 |
| Mar 1, 2007 | 3.14 | 7.30 | — | 5.80 | — | — | — |
| Mar 16, 2006 | 3.20 | 8.09 | — | 4.92 | — | — | — |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Technology Hardware & Equipment)
Roper Technologies Inc., P/BV, long-term trends, comparison to sector (technology hardware & equipment)
| Roper Technologies Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Feb 27, 2023 | 2.84 | 28.45 |
| Feb 22, 2022 | 4.01 | 24.77 |
| Feb 22, 2021 | 3.84 | 19.33 |
| Feb 28, 2020 | 3.93 | 11.13 |
| Feb 25, 2019 | 4.28 | 7.77 |
| Feb 23, 2018 | 4.21 | 5.24 |
| Feb 27, 2017 | 3.70 | 4.05 |
| Feb 26, 2016 | 3.25 | 4.45 |
| Feb 20, 2015 | 3.55 | 4.43 |
| Feb 21, 2014 | 3.19 | 3.29 |
| Feb 25, 2013 | 3.25 | 3.89 |
| Feb 24, 2012 | 2.87 | 3.71 |
| Feb 25, 2011 | 2.88 | 4.38 |
| Feb 26, 2010 | 2.14 | 4.68 |
| Mar 2, 2009 | 1.70 | 4.03 |
| Feb 29, 2008 | 2.81 | 7.36 |
| Mar 1, 2007 | 3.14 | 6.24 |
| Mar 16, 2006 | 3.20 | 5.69 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Roper Technologies Inc., P/BV, long-term trends, comparison to industry (information technology)
| Roper Technologies Inc. | Information Technology | |
|---|---|---|
| Feb 27, 2023 | 2.84 | 10.25 |
| Feb 22, 2022 | 4.01 | 12.37 |
| Feb 22, 2021 | 3.84 | 10.94 |
| Feb 28, 2020 | 3.93 | 8.41 |
| Feb 25, 2019 | 4.28 | 7.00 |
| Feb 23, 2018 | 4.21 | 5.46 |
| Feb 27, 2017 | 3.70 | 4.53 |
| Feb 26, 2016 | 3.25 | 4.30 |
| Feb 20, 2015 | 3.55 | 4.36 |
| Feb 21, 2014 | 3.19 | 3.50 |
| Feb 25, 2013 | 3.25 | 3.75 |
| Feb 24, 2012 | 2.87 | 3.98 |
| Feb 25, 2011 | 2.88 | 4.16 |
| Feb 26, 2010 | 2.14 | 4.31 |
| Mar 2, 2009 | 1.70 | 4.00 |
| Feb 29, 2008 | 2.81 | 8.64 |
| Mar 1, 2007 | 3.14 | 7.24 |
| Mar 16, 2006 | 3.20 | 7.40 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).