Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Roper Technologies Inc., profitability ratios (quarterly data)
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).
The analysis of the quarterly financial ratios reveals several notable trends in profitability and efficiency metrics over the observed periods.
- Gross Profit Margin
- The gross profit margin shows a consistent and steady upward trend throughout the periods, increasing from approximately 63.3% in early 2019 to around 69.8% by the latest quarter in 2023. This sustained increase indicates improving efficiency in production or cost control relative to revenues, reflecting stronger core profitability over time.
- Operating Profit Margin
- The operating profit margin exhibits some variability with a moderate decline during 2020, dipping from around 27.9% at the end of 2019 to near 25.9% by late 2020. However, starting from 2021, the margin gradually recovers and reaches a higher level close to 28.4% by early 2023. This pattern suggests some operational challenges during the mid-period followed by effective margins improvement, possibly due to better expense management or stronger operating leverage.
- Net Profit Margin
- The net profit margin shows significant fluctuations, with a notable spike in late 2019 to nearly 33%, followed by a decline in 2020 to as low as 17.2%. From 2021 onward, the margin demonstrates remarkable volatility with pronounced peaks reaching over 80% in late 2022. Despite this volatility, net profitability maintains relatively high levels in recent quarters, suggesting extraordinary items or one-time effects influencing net income beyond normal operational performance.
- Return on Equity (ROE)
- Return on equity follows a somewhat similar pattern to net profit margin, showing an increase to about 18.6% at the end of 2019, a decrease throughout 2020 to below 10%, and then a recovery starting in 2021. The ROE peaks noticeably at over 28% towards the end of 2022 before stabilizing around 17% in 2023. This indicates a period of reduced shareholder returns during 2020, followed by enhanced profitability or efficient equity usage in subsequent periods.
- Return on Assets (ROA)
- The return on assets demonstrates a consistent upward progression from around 7.1% in early 2019 to a high of approximately 16.8% at the end of 2022, followed by a slight decline stabilizing near 10.4% in 2023. This trend reflects improving asset utilization and profitability, though recent quarters show a moderate reduction from peak efficiency levels.
Overall, the data indicate that the company experienced a dip in profitability and efficiency metrics during the 2020 period, likely due to external or industry-wide challenges. Since then, there has been a recovery phase marked by improvements in margins and returns, although net profit margins reflect considerable volatility which may suggest non-recurring influences. The progression of gross profit margin and returns on assets and equity points to enhanced operational efficiency and better capital management over the full term analyzed.
Return on Sales
Return on Investment
Gross Profit Margin
Roper Technologies Inc., gross profit margin calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Gross profit | 1,096,300) | 1,067,100) | 1,018,600) | 1,002,300) | 941,800) | 911,500) | 897,200) | 1,018,000) | 996,100) | 967,300) | 936,000) | 966,600) | 875,900) | 843,700) | 856,800) | 892,900) | 873,600) | 850,000) | 810,600) | ||||||
| Net revenues | 1,563,400) | 1,531,200) | 1,469,700) | 1,430,900) | 1,350,300) | 1,310,800) | 1,279,800) | 1,512,300) | 1,462,800) | 1,426,600) | 1,376,100) | 1,505,300) | 1,366,100) | 1,305,000) | 1,350,700) | 1,394,800) | 1,354,500) | 1,330,300) | 1,287,200) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | 69.79% | 69.69% | 69.66% | 69.86% | 69.11% | 68.68% | 68.27% | 67.80% | 66.99% | 66.02% | 65.24% | 64.10% | 64.05% | 64.14% | 63.96% | 63.86% | 63.71% | 63.50% | 63.30% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Apple Inc. | 43.45% | 43.18% | 43.06% | 43.31% | 43.31% | 43.32% | 43.02% | 41.78% | 41.01% | 39.88% | 38.78% | 38.23% | 38.19% | 38.11% | 37.95% | — | — | — | — | ||||||
| Arista Networks Inc. | 60.76% | 60.18% | 60.27% | 61.07% | 61.82% | 62.77% | 63.64% | 63.80% | 63.95% | 63.87% | 63.72% | — | — | — | — | — | — | — | — | ||||||
| Cisco Systems Inc. | 61.99% | 61.92% | 62.23% | 62.55% | 63.14% | 63.30% | 63.73% | 64.02% | 63.94% | 64.17% | 64.07% | — | — | — | — | — | — | — | — | ||||||
| Dell Technologies Inc. | 21.42% | 20.92% | 21.40% | 21.63% | 24.59% | 27.13% | 29.32% | 31.22% | 31.42% | 31.49% | 31.46% | — | — | — | — | — | — | — | — | ||||||
| Super Micro Computer Inc. | 18.23% | 17.80% | 16.78% | 15.40% | 14.22% | 13.68% | 14.18% | 15.03% | 15.14% | 16.03% | 15.91% | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Gross profit margin = 100
× (Gross profitQ3 2023
+ Gross profitQ2 2023
+ Gross profitQ1 2023
+ Gross profitQ4 2022)
÷ (Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023
+ Net revenuesQ4 2022)
= 100 × (1,096,300 + 1,067,100 + 1,018,600 + 1,002,300)
÷ (1,563,400 + 1,531,200 + 1,469,700 + 1,430,900)
= 69.79%
2 Click competitor name to see calculations.
The financial data reveals several notable trends in the company's performance over the observed quarterly periods.
- Gross Profit
- Gross profit displayed a general upward trajectory from the first quarter of 2019 through the third quarter of 2023. There was a noticeable dip in early 2020 during the first and second quarters, likely reflecting external challenges during that period. Following this, gross profit rebounded strongly, reaching new highs by the end of 2022 and continuing to grow into 2023. The increase between the earlier and later periods suggests improved operational efficiency or pricing power.
- Net Revenues
- Net revenues similarly showed consistent growth, starting at approximately $1.29 billion in the first quarter of 2019 and increasing steadily to over $1.56 billion by the third quarter of 2023. A slight decline is visible in the first half of 2020, mirroring the trend observed in gross profit. The subsequent recovery and continued growth indicate resilience and an expanding business base or successful sales strategies.
- Gross Profit Margin
- The gross profit margin percentage improved progressively from about 63.3% in the first quarter of 2019 to nearly 69.8% by the third quarter of 2023. This steady margin expansion reflects enhanced cost management, higher-margin product mix, or favorable pricing dynamics. The margin increase was especially marked starting in late 2020, suggesting a sustained improvement in profitability relative to revenues.
Overall, the data indicates a strong recovery following a mid-2020 downturn, with consistent improvements in both revenue and profitability metrics thereafter. The rising gross profit margin throughout the period underscores enhancements in operational leverage or product valuation contributing to stronger financial health.
Operating Profit Margin
Roper Technologies Inc., operating profit margin calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Income from operations | 446,100) | 435,300) | 401,000) | 412,500) | 393,200) | 362,900) | 355,900) | 320,600) | 403,500) | 381,500) | 374,600) | 380,700) | 367,600) | 333,600) | 349,200) | 398,400) | 385,200) | 368,400) | 346,400) | ||||||
| Net revenues | 1,563,400) | 1,531,200) | 1,469,700) | 1,430,900) | 1,350,300) | 1,310,800) | 1,279,800) | 1,512,300) | 1,462,800) | 1,426,600) | 1,376,100) | 1,505,300) | 1,366,100) | 1,305,000) | 1,350,700) | 1,394,800) | 1,354,500) | 1,330,300) | 1,287,200) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | 28.27% | 28.40% | 28.22% | 28.38% | 26.27% | 25.92% | 25.72% | 25.62% | 26.69% | 26.51% | 26.23% | 25.89% | 26.75% | 27.13% | 27.64% | 27.92% | 27.38% | 27.42% | 27.34% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Apple Inc. | 29.23% | 29.16% | 29.41% | 30.29% | 30.53% | 30.93% | 30.90% | 29.78% | 28.79% | 27.32% | 25.24% | 24.15% | 24.52% | 24.48% | 24.71% | — | — | — | — | ||||||
| Arista Networks Inc. | 37.29% | 36.12% | 35.71% | 34.86% | 33.69% | 32.55% | 31.56% | 31.37% | 30.79% | 30.76% | 30.72% | — | — | — | — | — | — | — | — | ||||||
| Cisco Systems Inc. | 25.89% | 26.10% | 26.91% | 27.09% | 27.36% | 27.09% | 26.98% | 25.76% | 25.60% | 25.93% | 26.23% | — | — | — | — | — | — | — | — | ||||||
| Dell Technologies Inc. | 5.88% | 5.12% | 4.99% | 4.60% | 5.26% | 5.51% | 5.72% | 5.46% | 4.00% | 3.71% | 3.01% | — | — | — | — | — | — | — | — | ||||||
| Super Micro Computer Inc. | 10.64% | 10.39% | 8.75% | 6.45% | 4.52% | 3.27% | 3.20% | 3.48% | 2.79% | 2.85% | 2.52% | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Operating profit margin = 100
× (Income from operationsQ3 2023
+ Income from operationsQ2 2023
+ Income from operationsQ1 2023
+ Income from operationsQ4 2022)
÷ (Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023
+ Net revenuesQ4 2022)
= 100 × (446,100 + 435,300 + 401,000 + 412,500)
÷ (1,563,400 + 1,531,200 + 1,469,700 + 1,430,900)
= 28.27%
2 Click competitor name to see calculations.
- Income from Operations
- The income from operations showed an overall upward trend across the observed periods with some fluctuations. Starting from 346,400 thousand USD in the first quarter of 2019, the figure peaked at 403,500 thousand USD in the third quarter of 2021. A noticeable dip occurred in the fourth quarter of 2021 to 320,600 thousand USD, followed by a recovery and subsequent growth reaching a new high of 446,100 thousand USD by the third quarter of 2023. This pattern indicates resilience and growth with short-term volatility likely due to external factors influencing operating results.
- Net Revenues
- Net revenues also exhibited a generally increasing trajectory over the period analyzed. Beginning with 1,287,200 thousand USD in the first quarter of 2019, revenues rose steadily, peaking at 1,512,300 thousand USD toward the end of 2021. A decline occurred in early 2022 to around 1,279,800 thousand USD but was followed by a progressive recovery, surpassing previous highs to reach 1,563,400 thousand USD by the third quarter of 2023. This trend suggests robust revenue generation capacity with some sensitivity to potential cyclical or external disruptions.
- Operating Profit Margin
- The operating profit margin percentage displayed relative stability with minor fluctuations throughout the entire period. Starting in the mid-to-high 27% range in 2019, the margin declined slightly during mid-2020 to around 25.89%, possibly reflecting margin pressures during that time. However, margins steadily improved thereafter, reaching their highest point at 28.4% in the third quarter of 2023. This improvement points to enhanced operational efficiency or favorable cost management strategies in recent quarters.
- Overall Analysis
- The financial data indicates consistent growth in both income from operations and net revenues despite intermittent setbacks, particularly noticeable in late 2021 and early 2022. Operating margins remained strong, with a minor dip followed by marked recovery and improvement, highlighting effective profitability management. The upward trends in both revenue and income from operations toward the end of the timeline suggest strengthening operational performance and capacity to generate profit amid evolving market conditions.
Net Profit Margin
Roper Technologies Inc., net profit margin calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Net earnings | 347,200) | 364,900) | 283,100) | 1,928,400) | 327,000) | 268,800) | 2,020,500) | 287,800) | 289,500) | 286,300) | 289,000) | 255,800) | 234,400) | 219,200) | 240,300) | 871,100) | 277,500) | 249,700) | 369,600) | ||||||
| Net revenues | 1,563,400) | 1,531,200) | 1,469,700) | 1,430,900) | 1,350,300) | 1,310,800) | 1,279,800) | 1,512,300) | 1,462,800) | 1,426,600) | 1,376,100) | 1,505,300) | 1,366,100) | 1,305,000) | 1,350,700) | 1,394,800) | 1,354,500) | 1,330,300) | 1,287,200) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | 48.77% | 50.21% | 50.48% | 84.60% | 53.25% | 51.50% | 50.76% | 19.95% | 19.42% | 18.78% | 17.98% | 17.18% | 28.89% | 29.75% | 30.18% | 32.94% | 21.58% | 21.16% | 20.90% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Apple Inc. | 24.68% | 24.49% | 24.56% | 25.31% | 25.71% | 26.41% | 26.58% | 25.88% | 25.00% | 23.45% | 21.73% | 20.91% | 21.33% | 21.35% | 21.49% | — | — | — | — | ||||||
| Arista Networks Inc. | 33.97% | 32.48% | 31.24% | 30.87% | 29.63% | 29.55% | 29.54% | 28.52% | 28.30% | 27.72% | 27.48% | — | — | — | — | — | — | — | — | ||||||
| Cisco Systems Inc. | 20.89% | 21.26% | 22.00% | 22.91% | 23.28% | 22.94% | 22.44% | 21.26% | 20.92% | 21.09% | 21.76% | — | — | — | — | — | — | — | — | ||||||
| Dell Technologies Inc. | 1.74% | 5.07% | 5.49% | 5.50% | 6.83% | 3.92% | 4.21% | 3.45% | 2.64% | 2.29% | 4.85% | — | — | — | — | — | — | — | — | ||||||
| Super Micro Computer Inc. | 8.93% | 8.70% | 7.38% | 5.49% | 3.96% | 3.00% | 2.89% | 3.14% | 2.69% | 2.71% | 2.56% | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Net profit margin = 100
× (Net earningsQ3 2023
+ Net earningsQ2 2023
+ Net earningsQ1 2023
+ Net earningsQ4 2022)
÷ (Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023
+ Net revenuesQ4 2022)
= 100 × (347,200 + 364,900 + 283,100 + 1,928,400)
÷ (1,563,400 + 1,531,200 + 1,469,700 + 1,430,900)
= 48.77%
2 Click competitor name to see calculations.
- Net Earnings
- Net earnings exhibit a fluctuating pattern with some periods showing strong growth and others a decline. Initially, earnings increased steadily from the first quarter of 2019 through the end of that year, peaking at 871,100 thousand USD in the fourth quarter of 2019. However, earnings dropped significantly in 2020, hitting a low of 219,200 thousand USD in the second quarter. From 2021 onwards, net earnings showed signs of recovery, with notable peaks in the first quarter of 2022 (2,020,500 thousand USD) and again in the fourth quarter of 2022 (1,928,400 thousand USD). The most recent quarters maintain elevated earnings levels compared to the 2020 lows, indicating overall recovery and growth.
- Net Revenues
- Net revenues display a generally consistent upward trend over the period, despite some variability. From the first quarter of 2019 at 1,287,200 thousand USD, revenues gradually rise with minor fluctuations, reaching around 1,512,300 thousand USD by the end of 2021. A slight dip is observable in early 2022 but is followed by continuous growth through to the latest quarter, reaching 1,563,400 thousand USD. This steady increase in revenues suggests expanding sales or service volumes over time.
- Net Profit Margin
- The net profit margin shows considerable volatility across the observed periods. Margins were relatively stable and moderate during 2019, ranging approximately between 20.9% and 32.9%. In 2020, margins generally declined, with a pronounced low in the fourth quarter (around 17.18%), reflecting possible cost pressures or other impacts. From 2021 onwards, the net profit margin increased markedly, attaining very high levels in the first quarter of 2022 (around 50.76%) and peaking in the fourth quarter of 2022 at 84.6%. Margins remained elevated through 2023, though showing a slight downward trend in the most recent quarter to approximately 48.77%. This sharp increase in margin indicates enhanced profitability efficiency or cost management during 2022 and 2023, despite some normalization toward the end.
- Overall Insights
- The financial data reveals that while net revenues steadily increased over time, the net earnings and profit margins were subject to more substantial fluctuations. The sharp surge in earnings and margins in 2022 suggests exceptional operational performance or one-off gains during this period. The decline in margins in 2020 and the corresponding drop in earnings reflect potential external challenges affecting profitability despite relatively stable revenues. The recent high margins and earnings imply improved cost control or higher value generation per revenue unit, contributing to the company's strong financial position in the latest quarters.
Return on Equity (ROE)
Roper Technologies Inc., ROE calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Net earnings | 347,200) | 364,900) | 283,100) | 1,928,400) | 327,000) | 268,800) | 2,020,500) | 287,800) | 289,500) | 286,300) | 289,000) | 255,800) | 234,400) | 219,200) | 240,300) | 871,100) | 277,500) | 249,700) | 369,600) | ||||||
| Stockholders’ equity | 17,038,700) | 16,745,900) | 16,332,700) | 16,037,800) | 13,857,800) | 13,726,500) | 13,551,900) | 11,563,800) | 11,342,300) | 11,089,200) | 10,765,700) | 10,479,800) | 10,160,900) | 9,879,700) | 9,591,300) | 9,491,900) | 8,571,300) | 8,351,000) | 8,137,400) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | 17.16% | 17.34% | 17.19% | 28.34% | 20.96% | 20.88% | 21.28% | 9.97% | 9.88% | 9.61% | 9.27% | 9.06% | 15.40% | 16.28% | 17.08% | 18.63% | 13.46% | 13.46% | 13.55% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| Apple Inc. | 157.22% | 151.74% | 167.77% | 196.96% | 171.46% | 151.24% | 139.79% | 150.07% | 135.04% | 110.31% | 96.54% | 87.87% | 80.83% | 72.96% | 64.25% | — | — | — | — | ||||||
| Arista Networks Inc. | 29.22% | 29.18% | 28.46% | 27.68% | 26.56% | 25.84% | 22.46% | 21.13% | 20.30% | 19.70% | 19.60% | — | — | — | — | — | — | — | — | ||||||
| Cisco Systems Inc. | 27.12% | 27.25% | 28.56% | 29.70% | 29.72% | 29.94% | 26.69% | 25.66% | 25.41% | 25.89% | 27.42% | — | — | — | — | — | — | — | — | ||||||
| Dell Technologies Inc. | — | — | — | — | 75.81% | 78.28% | 114.54% | 131.10% | 275.31% | — | — | — | — | — | — | — | — | — | — | ||||||
| Super Micro Computer Inc. | 33.21% | 31.80% | 27.33% | 20.00% | 14.41% | 10.53% | 9.77% | 10.20% | 8.65% | 8.32% | 7.88% | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
ROE = 100
× (Net earningsQ3 2023
+ Net earningsQ2 2023
+ Net earningsQ1 2023
+ Net earningsQ4 2022)
÷ Stockholders’ equity
= 100 × (347,200 + 364,900 + 283,100 + 1,928,400)
÷ 17,038,700 = 17.16%
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals distinct variations in net earnings, stockholders’ equity, and return on equity (ROE) over the observed time frame.
- Net Earnings
- Net earnings exhibit considerable fluctuations throughout the periods. Initial quarters in 2019 show moderate earnings ranging between approximately $249.7 million and $871.1 million, with a peak in December 2019. The first two quarters of 2020 show a decline in earnings, likely influenced by external factors affecting the economy. Thereafter, earnings show a gradual recovery and increase, peaking notably in March 2022 and December 2022. The most recent quarters продолжают демонстрировать высокие значения, с сентября 2023 года достигающими около $347.2 million, indicating robust profitability trends post-2021.
- Stockholders' Equity
- Stockholders’ equity presents a consistent upward trajectory across all the quarters. Starting from about $8.1 billion in March 2019, it steadily increases to approximately $17 billion by September 2023. The growth pace accelerates especially after 2021, reflecting continued reinvestment strategies, retained earnings, or potential equity infusions contributing to the strengthening of the company’s capital base.
- Return on Equity (ROE)
- The ROE demonstrates noticeable volatility with phases of decline and growth. Early quarters of 2019 indicate levels around 13-18%, followed by a decline approaching 9% towards the end of 2020 and throughout 2021. A strong rebound is observed starting in 2022, with ROE reaching over 28% in December 2022. However, after this peak, ROE decreases but remains relatively elevated in the range of 17%, suggesting improved effectiveness in generating returns from equity investments during the later periods compared to 2020-2021.
In summary, the financial performance over the periods shows a resilient recovery following mid-2020 lows. The upward trend in stockholders’ equity indicates strengthened financial positioning, while the oscillations in ROE highlight varying operational efficiency. The significant peaks in net earnings and ROE during 2022 imply especially strong operational success in that year, although recent quarters maintain solid profitability figures.
Return on Assets (ROA)
Roper Technologies Inc., ROA calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Net earnings | 347,200) | 364,900) | 283,100) | 1,928,400) | 327,000) | 268,800) | 2,020,500) | 287,800) | 289,500) | 286,300) | 289,000) | 255,800) | 234,400) | 219,200) | 240,300) | 871,100) | 277,500) | 249,700) | 369,600) | ||||||
| Total assets | 28,188,000) | 27,460,400) | 27,134,800) | 26,980,800) | 24,397,200) | 25,350,300) | 25,635,800) | 23,713,900) | 23,728,100) | 23,833,700) | 23,871,100) | 24,024,800) | 23,652,000) | 19,142,300) | 18,137,800) | 18,108,900) | 17,819,100) | 15,908,300) | 15,414,100) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | 10.37% | 10.57% | 10.35% | 16.84% | 11.90% | 11.31% | 11.25% | 4.86% | 4.72% | 4.47% | 4.18% | 3.95% | 6.62% | 8.40% | 9.03% | 9.76% | 6.48% | 7.07% | 7.15% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| Apple Inc. | 28.28% | 28.40% | 27.45% | 28.29% | 29.63% | 29.07% | 26.38% | 26.97% | 26.32% | 22.63% | 18.06% | 17.73% | 18.41% | 17.86% | 16.89% | — | — | — | — | ||||||
| Arista Networks Inc. | 20.96% | 20.88% | 20.11% | 19.96% | 18.90% | 17.77% | 15.27% | 14.66% | 14.43% | 13.99% | 13.82% | — | — | — | — | — | — | — | — | ||||||
| Cisco Systems Inc. | 11.76% | 11.79% | 12.36% | 12.57% | 12.94% | 12.54% | 11.87% | 10.86% | 10.88% | 10.60% | 11.01% | — | — | — | — | — | — | — | — | ||||||
| Dell Technologies Inc. | 2.15% | 6.11% | 6.50% | 6.00% | 5.00% | 3.08% | 3.28% | 2.63% | 2.04% | 1.73% | 3.71% | — | — | — | — | — | — | — | — | ||||||
| Super Micro Computer Inc. | 18.39% | 18.81% | 13.45% | 8.90% | 5.98% | 4.67% | 4.56% | 4.99% | 4.56% | 4.67% | 4.65% | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
ROA = 100
× (Net earningsQ3 2023
+ Net earningsQ2 2023
+ Net earningsQ1 2023
+ Net earningsQ4 2022)
÷ Total assets
= 100 × (347,200 + 364,900 + 283,100 + 1,928,400)
÷ 28,188,000 = 10.37%
2 Click competitor name to see calculations.
The reviewed financial indicators reveal several important trends over the examined periods. Net earnings demonstrate notable volatility with significant peaks and troughs. Initially, earnings fluctuate around the $200,000 to $300,000 thousand range; however, two substantial spikes are evident around the end of 2019 and the first quarter of 2022, suggesting episodic instances of exceptional profitability. Post these peaks, earnings remain elevated compared to early periods but display variability quarter over quarter.
Total assets generally exhibit an upward trajectory, indicating asset growth over time. Starting at approximately $15.4 billion, assets increase steadily, reaching over $28 billion in the most recent period. This growth, albeit with minor fluctuations and occasional consolidations, reflects a consistent expansion of the asset base, which may support future operational and financial activities.
The Return on Assets (ROA) metric highlights fluctuating efficiency in utilizing assets to generate net earnings. High ROA values at the end of 2019 and early 2022 correspond with the aforementioned spikes in net earnings, reflecting periods of enhanced profitability relative to asset size. The ROA shows a decrease following certain peaks, suggesting varying returns in other quarters. Despite some quarterly fluctuations, there is a discernible improvement trend in ROA from mid-2021 through 2023, culminating in values exceeding 10%, which indicates improved efficiency and profitability in recent periods.
In summary, the financial data display a pattern of growth in total assets accompanied by cycles of strong earnings performance and improved asset utilization efficiency over time. The episodic surges in net earnings and ROA suggest that the company experiences periods of markedly higher profitability, which positively influence overall financial performance. The asset base expansion provides a structural foundation potentially facilitating sustained financial improvements.
- Net Earnings
- Fluctuate significantly with distinct peaks at end of 2019 and early 2022; recent quarters show elevated but variable earnings.
- Total Assets
- Demonstrate consistent growth from $15.4 billion to over $28 billion, supporting expanding operational capacity.
- Return on Assets (ROA)
- Exhibits correlation with net earnings spikes; recent improvement trends indicate enhanced asset utilization efficiency.