ROP · 10-Q · 2026Q3 · Full report
Liquidity and Debt Position
ROPER TECHNOLOGIES INC · 2026-11-02 · Importance 63 · Surprise 32 · From source text
At September 30, 2026, total debt net of deferred financing costs was $9,719.7, cash and cash equivalents were $311.0, and net debt was $9,408.7, compared with net debt of $9,003.6 at December 31, 2025. Net debt to total net capital increased to 32.9% from 31.2%; debt growth primarily reflected $400.0 of net borrowings under the revolving credit facility. The March 30, 2026 Credit Agreement provides a five-year $3,500.0 unsecured revolver, and Roper reported compliance with its debt covenants. Foreign subsidiaries held $202.2, or 65.0%, of cash at September 30, 2026, after $191.8 of cash repatriation.
Key facts
- On March 30, 2026, Roper entered into a five-year $3,500.0 million unsecured revolving credit facility, replacing its previous $3,500.0 million facility; the new facility includes up to $150.0 million for letters of credit. source
- Roper anticipates positive operating cash flows that will permit repayment of currently outstanding debt in accordance with its repayment schedule; the pace of debt reduction and related interest-expense reduction may be affected by acquisition needs, company performance, share repurchases, geopolitical and economic uncertainties, and financial markets. source
- Roper may request up to an additional $1,000.0 million in term loans or revolving credit commitments, subject to specified conditions. source
- Roper’s operating cash flow for the nine months ended September 30, 2026 increased 4% to $1,882.2 million from $1,802.3 million, primarily due to higher earnings before non-cash expenses and lower cash income taxes paid. source
- Roper’s total debt, net of deferred financing costs, was $9,719.7 million at September 30, 2026, compared with $9,301.0 million at December 31, 2025. source
- Roper’s net debt was $9,408.7 million at September 30, 2026, compared with $9,003.6 million at December 31, 2025. source
- Roper repatriated $191.8 million of cash during the nine months ended September 30, 2026 and intends to repatriate substantially all historical and future foreign earnings that can be repatriated without incremental U.S. federal tax cost. source
- Roper’s capital expenditures were $35.4 million and capitalized software expenditures were $46.8 million for the nine months ended September 30, 2026; it expects their 2026 aggregate to be comparable to prior years as a percentage of revenue. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -1.2% | Roper’s total debt, net of deferred financing costs, was $9,719.7 million at September 30, 2026, compared with $9,301.0 million at… |
| cash | positive | realized | +0.2% | Roper’s operating cash flow for the nine months ended September 30, 2026 increased 4% to $1,882.2 million from $1,802.3 million, primarily… |
| cash | negative | committed | — | Roper anticipates positive operating cash flows that will permit repayment of currently outstanding debt in accordance with its repayment… |
| liability | positive | committed | — | Roper anticipates positive operating cash flows that will permit repayment of currently outstanding debt in accordance with its repayment… |