Improving Industrial and Energy Sectors Drive Top-Line and Margin Expansion in Roper’s 3Q
We’re raising our fair value estimate for narrow-moat Roper to $202 from $198 per share, with $2 added for time value of money since our last update, and the remainder from slightly higher profitability assumptions. Roper delivered another quarter of record sales, increasing reported revenue by 22.7% year over year to $1.16 billion. While much of the increase in sales came from acquisitions, all of Roper’s operating segments reported positive organic revenue growth, averaging about 5% across the...Roper Technologies designs and develops software and engineered products and solutions for a variety of end markets. The company has four segments: Application Software, which includes Aderant, CBORD, CliniSys, and Data Innovations; Network Software and Systems, which includes ConstructConnect, DAT, Foundry, Inovonics; Measurement and Analytical Solutions, which includes Alpha, CIVCO Medical Solutions, CIVCO Radiotherapy, Dynisco, FMI, Hansen, Hardy, IPA, Logitech, Neptune, Northern Digital, Struers, Technolog, Uson, Verathon; and Process Technologies, which includes AMOT, CCC, Cornell, FTI, Metrix, PAC, Roper Pump, Viatran, Zetec.
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