Slide 1: Q4 2025 Financial results
Q4 2025 Financial results January 27, 2026
Slide 2: Safe harbor statement
Safe harbor statement The information provided in this presentation contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans,
Slide 3: Reg. G Disclosure
Reg. G Disclosure Today’s conference call will discuss results primarily on an adjusted (non-GAAP) and continuing operations basis. Q4 results adjusted for the following items: 1. Amortization of acquisition-related intangible assets 2. Financial impacts associated with minority investment See appen
Slide 4: Agenda
Agenda Q4 & 2025 enterprise highlights & financial results 2025 segment detail & 2026 outlook 2026 enterprise guidance Q&A 4
Slide 5: Solid execution in 2025
Solid execution in 2025 +12% revenue, +11% EBITDA, +8% free cash flow Roper entering Investing for long-term growth 2026 Strengthened organic growth foundation Significantly advanced AI capabilities Positioned for continued long- term cash flow compounding Enhanced capital deployment Deployed $3.3B
Slide 6: Q4 income statement metrics
Q4 income statement metrics Q4’24 Q4’25 Revenue $1,877 $2,059 +10%; +5% M&A contribution; +4% organic Gross profit $1,282 $1,430 Gross margin 68.3% 69.5% Core +110 bps EBITDA $744 $818 +10% EBITDA margin 39.6% 39.7% Core +60 bps Interest expense $71 $93 Tax rate 20.6% 20.1% Net earnings $520 $561 +8
Slide 7: Q4 segment results
Q4 segment results Application Software Network Software Technology Enabled Products Revenue Revenue Revenue +10% +14% +6% vs PY vs PY vs PY _____ _____ _____ +4% +5% +5% organic organic organic $740 $852 $1,057 $1,159 $350 $363 $374 $426 $341 $399 $447 $474 Q4'22 Q4'23 Q4'24 Q4'25 Q4'22 Q4'23 Q4'24
Slide 8: 2025 financial highlights
2025 financial highlights Solid year for Roper Total revenue +12%; M&A contribution +7%; organic revenue +5% EBITDA +11%; EBITDA margin 39.8%; core EBITDA margin +30 bps DEPS +9% to $20.00 Free cash flow +8% to $2.47B; 31% free cash flow margin Revenue EBITDA Free cash flow +14% +13% +18% 3-year 3-y
Slide 9: Strong financial position
Exited Q4’25 at 2.9x net debt-to-EBITDA $297M of cash; $850M drawn on $3.5B revolver Strong financial position Repurchased 1.12M shares for $500M $445.90 average price per share $6B+ annual capacity for capital deployment Well positioned for continued deployment Large pipeline of attractive acquisit
Slide 10: Segment detail & outlook
Segment detail & outlook
Slide 11: Application Software
Application Software FY 2025 highlights Revenue Revenue +16%; M&A revenue contribution +10%; organic revenue +5% Outstanding year for Aderant; continued SaaS momentum & AI innovation Deltek growth driven by private sector market; GovCon market remains challenging $2,640 $3,187 $3,868 $4,483 Vertafor
Slide 12: Network Software
Network Software FY 2025 highlights Revenue Revenue +8%; M&A revenue contribution +4%; organic revenue +4% DAT growth driven by continued ARPU expansion; recent bolt-on acquisitions off to a promising start Strong year for ConstructConnect; continued ARR growth & AI innovation $1,378 $1,439 $1,476 $
Slide 13: Technology Enabled Products
Technology Enabled Products FY 2025 highlights Revenue Revenue +7%; organic revenue +6% Fantastic NDI year; strong momentum for cardiac, neurology & orthopedic solutions Verathon growth driven by BFlex & GlideScope single-use offerings $1,354 $1,552 $1,695 $1,819 2022 2023 2024 2025 Neptune growth f
Slide 14: 2026 enterprise guidance
2026 enterprise guidance
Slide 15: Establishing 2026 guidance
FY 2026 Total revenue: ~8% Establishing Organic: +5 - 6% Adjusted DEPS: $21.30 - $21.55 2026 guidance Q1 2026 Adjusted DEPS: $4.95 - $5.00 Guidance presented on an adjusted (non-GAAP) and continuing operations basis; excludes impact of unannounced future acquisitions or divestitures, as well as pote
Slide 16: Year-end summary
Solid execution in 2025 +12% revenue, +11% EBITDA, +8% free cash flow Year-end Investing for long-term growth summary Strengthened organic growth foundation Simple ideas. Significantly advanced AI capabilities Powerful results. Enhanced capital deployment Deployed $3.3B toward high-quality acquisiti
Slide 17: Market-leading businesses in defensible niches
Market-leading businesses in defensible niches Decentralized Process-driven operating capital deployment environment 17
Slide 18: Appendix
Appendix
Slide 19: Full year income statement metrics
Full year income statement metrics 2024 2025 Revenue $7,039 $7,902 +12%; +7% M&A contribution; +5% organic Gross profit $4,878 $5,472 Gross margin 69.3% 69.2% Core +60 bps EBITDA $2,832 $3,143 +11% EBITDA margin 40.2% 39.8% Core +30 bps Interest expense $259 $325 Tax rate 21.0% 20.9% Net earnings $1
Slide 20: Roper's revenue composition – Q4
Roper’s revenue composition – Q4 Disaggregated revenue reconciliation ($M) (from continuing operations) Technology Enabled Q4 2025 Application Software Network Software Products Roper Q4'24 Q4'25 Q4'24 Q4'25 Q4'24 Q4'25 Q4'24 Q4'25 Software related Recurring $ 754 $ 855 $ 273 $ 305 $ 8 $ 13 $ 1,034
Slide 21: Roper's revenue composition – full year
Roper’s revenue composition – full year Disaggregated revenue reconciliation ($M) (from continuing operations) Technology Enabled FY 2025 Application Software Network Software Products Roper FY'24 FY'25 FY'24 FY'25 FY'24 FY'25 FY'24 FY'25 Software related Recurring $ 2,880 $ 3,282 $ 1,070 $ 1,155 $
Slide 22: Reconciliations I
Reconciliations I Adjusted EBITDA reconciliation ($M) (from continuing operations) Q4 2024 Q4 2025 V% to '24 FY 2022 FY 2023 FY 2024 FY 2025 V% to '24 3-Year CAGR GAAP revenue $ 1,877 $ 2,059 10% $ 5,372 $ 6,178 $ 7,039 $ 7,902 12% 14% GAAP earnings before income taxes $ 591 $ 535 $ 1,282 $ 1,743 $
Slide 23: Reconciliations II
Reconciliations II Revenue growth reconciliation (from continuing operations) Technology Q4 2025 Application Network Enabled Software Software Products Roper Organic 4% 5% 5% 4% Acquisitions/divestitures 6% 9% 1% 5% Foreign exchange - - - - Total revenue growth 10% 14% 6% 10% Segment reconciliation
Slide 24: Reconciliations III
Reconciliations III Revenue growth reconciliation (from continuing operations) Technology FY 2025 Application Network Enabled Software Software Products Roper Organic 5% 4% 6% 5% Acquisitions/divestitures 10% 4% 1% 7% Foreign exchange - - - - Total revenue growth 16% 8% 7% 12% Segment reconciliation
Slide 25: Reconciliations IV
Reconciliations IV Gross magin reconciliation Adjusted EBITDA margin reconciliation (from continuing operations) (from continuing operations) Application Network Roper Software Software Roper Q4'24 gross margin 68.3% Q4'24 adjusted EBITDA margin 41.5% 57.4% 39.6% Core margin impact +110 bps Core mar
Slide 26: Reconciliations V
Reconciliations V Adjusted net earnings reconciliation ($M) (from continuing operations) Q4 2024 Q4 2025 V% FY 2024 FY 2025 V% GAAP net earnings $ 462 $ 428 (7%) $ 1,549 $ 1,536 (1%) Restructuring-related expenses associated with the Transact acquisition - - 7 - Transaction-related expenses for comp
Slide 27: Footnotes
Footnotes A. Adjustments related to the financial impacts associated with the minority investment in Indicor as shown below ($M, except per share data). Forecasted results do not include any potential impacts associated with our minority investment in Indicor, as these potential impacts cannot be re
Slide 28: Roper Technologies
Roper TECHNOLOGIES