A diversified technology company that sells specialized software and engineered products for niche markets like legal, healthcare, education, insurance, and construction, plus devices such as medical equipment, water meters, and RFID readers. It traces back to 1890, when George D. Roper began making gas kitchen stoves in Rockford, Illinois, later shifting to buying niche software and tech firms and renaming itself Roper Technologies in 2015. Fun twist: a company now known for medical and insurance software once spent decades as a household name in kitchen stoves.
Q2 2026 net income rose 208.9% to $1,168.5M on an $828.6M Indicor fair-value gain
An $828.6M gain on the investment drove to 55.4% of this quarter. Revenue rose 8.5% to $2,108.9M and rose 233.0% to $11.62, while rose 6.6% to $584.7M as and acquisitions carried the core business. The underlying software model held, but debt and a one-off gain now define the headline.
Key takeaways
reached 55.4% of , boosted by an $828.6M on the investment ahead of its instrumentation divestiture, lifting net income to $1,168.5M and to $11.62.
rose 8.5% to $2,108.9M with 4.9% and 3.4% from acquisitions led by and , a slower pace than the 13%+ quarters through Q3 2025.
rose 6.6% to $584.7M and was 27.7%, while rose 0.5 points to 69.7% as gross margin improved to 69.8% on higher .
Section summaries
Management's Discussion and Analysis
Q2 2026 revenue rose 8.5% to $2.1B with 4.9% organic growth; net earnings surged on an $828.6M fair-value gain from Indicor.
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Total Q2 grew 8.5% to $2,108.9M, driven by 4.9% and 3.4% from acquisitions, led by and .
margin declined to 33.3% on input-cost pressure and consumables mix, and fell to 41.0% on acquisition-related SG&A and payments mix.
rose 16.2% to $469.5M for the quarter and totaled $1,061.6M for the six months; debt increased to $11.3B after $2.0B in partly funding $2.7B in .
Risk factors newly emphasize AI adoption risks including reliance on third-party models from OpenAI, Anthropic, Google, and Microsoft, and AI-powered attacks such as deepfakes and prompt injection.
What changed
at the $21.3B (62% of assets) level flagged for FY2026 was not resolved in this Q2 filing; the company did not report an this quarter.
to total net capital rose further after Q1's 34.9% reading as climbed 8.7% sequentially to $10.6B and total debt reached $11.3B on for buybacks.
, flagged after Q1's 56.9%, was not disclosed at level this quarter but the filing states the segment margin declined to 33.3% on input costs.
, omitted in Q1 at the 26.8% FY2025 close, was not disclosed this quarter though its improved to 69.8%.
fair value reversed the $44.4M Q1 2025 loss with an $828.6M gain this quarter tied to its instrumentation divestiture, a one-off non-cash item.
What to watch
test outcome in the FY2026 annual filing at the $21.3B (62% of assets) level.
to total net capital next quarter after total debt reached $11.3B on and $2.7B buybacks.
margin next quarter after the margin declined to 33.3% on input-cost pressure.
disclosure after it was omitted in Q1 and Q2 at the 26.8% FY2025 close.
Application Software organic rose 4.5% on strength in legal, insurance, and education; improved to 69.8% on higher .
Network Software organic grew 3.6% from freight match and construction, but fell to 41.0% on acquisition-related SG&A and payments mix.
Technology Enabled Products organic increased 7.1% from medical products, but margin declined to 33.3% on input-cost pressure and consumables mix.
reached 55.4% of , boosted by an $828.6M fair-value gain on the investment ahead of its instrumentation divestiture.
rose 14% to $1,061.6M; debt increased to $11.3B after $2.0B in borrowings, partly to fund $2.7B in share repurchases.
Quantitative and Qualitative Disclosures About Market Risk
See “Item 7A. Quantitative and Qualitative Disclosures about Market Risk” in our Annual Report. There were no material changes during the six months ended June 30, 2026.
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See “Item 7A. Quantitative and Qualitative Disclosures about Market Risk” in our Annual Report. There were no material changes during the six months ended June 30, 2026.
Information pertaining to legal proceedings can be found in Note 11 of the Notes to Condensed Consolidated Financial Statements included elsewhere in this Quarterly Report and is incorporated by reference herein.
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Information pertaining to legal proceedings can be found in Note 11 of the Notes to Condensed Consolidated Financial Statements included elsewhere in this Quarterly Report and is incorporated by reference herein.
Cybersecurity and AI adoption risks are newly emphasized, with expanded detail on cloud dependencies, software supply chain threats, and AI governance challenges.
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The risk factor on IT and cloud reliance has been significantly expanded to highlight threats to software development infrastructure, including pipelines, code-signing, and AI coding tools.
A new, dedicated risk factor details operational, IP, and competitive risks from increasing AI use, including reliance on third-party models from OpenAI, Anthropic, Google, and Microsoft.
The cybersecurity risk factor now explicitly warns of AI-powered attacks such as deepfakes, prompt injection, and data poisoning, which may bypass traditional security controls.
Unauthorized employee use of external AI tools ('') is flagged as a risk that could lead to disclosure of proprietary source code and sensitive data.
The company notes that while past disruptions and unauthorized AI use have occurred, none have been identified as material to date.