Vertafore, Inc.
10-K - Feb 27, 2023
and approximately $5,400 in 2020 for the acquisition of Vertafore, Inc., a leading provider of SaaS solutions for the property and casualty insurance industry
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
Roper Technologies Inc.
ROPActiveCIK 882835 · Diversified Industrial Compounders
Roper Technologies Inc. is a public company in Industrial - Machinery, tracked in the diversified industrial compounders sub-sector, with $8.1B TTM revenue and $3.2B TTM EBITDA.
Market data as of May 10, 2026
Financials: LTM / latest available company filings
Sources: FMP, ROP filings, SEC EDGAR
$34,647
Market cap ($MM)
$44,728
Enterprise value ($MM)
$8,115
Revenue · LTM ($MM)
$3,239
EBITDA · LTM ($MM)
40%
EBITDA margin
5.5x
EV / revenue
13.8x
EV / EBITDA
3.1x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01ROP is a scaled public consolidator in Industrial Compounders, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is DHR, HEI, EMR, TDG, AME, DOV.
Balance sheet & capacity
Indicative capacity read: 3.1x net debt / EBITDA with EBITDA of $3.2B.
$383
Cash & equiv. ($MM)
$10,464
Total debt ($MM)
$10,081
Net debt ($MM)
3.1x
Net debt / EBITDA
Valuation
Where it trades against its peer set
ROP versus the scaled public Diversified Industrial Compounders comparables.
EV / EBITDA distribution · peer set
ROP 13.8x
Indexed share-price performance
ROP versus available Diversified Industrial Compounders peers and SPY.
-29%
ROP
+70%
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Roper Technologies Inc. | ROP | $8,115 | $3,239 | 40% | $34,647 | $44,728 | 5.5x | 13.8x | 3.1x |
| Danaher Corp. | DHR | $24,778 | $6,690 | 27% | $121,142 | $133,925 | 5.4x | 20.0x | 1.9x |
| Heico Corporation | HEI | $4,633 | $1,258 | 27% | $40,713 | $42,959 | 9.3x | 34.2x | 1.8x |
| Emerson Electric Co. | EMR | $18,316 | $5,140 | 28% | $79,137 | $90,705 | 5.0x | 17.6x | 1.1x |
| TransDigm Group Incorporated | TDG | $9,503 | $4,778 | 50% | $67,964 | $96,083 | 10.1x | 20.1x | 5.7x |
| AMETEK, Inc. | AME | $7,598 | $2,258 | 30% | $53,267 | $54,963 | 7.2x | 24.3x | 0.3x |
| DOVER Corp | DOV | $8,280 | $1,782 | 22% | $29,603 | $31,251 | 3.8x | 17.5x | 1.3x |
| ITT Inc. | ITT | $4,237 | $924 | 22% | $18,430 | $18,307 | 4.3x | 19.8x | 3.5x |
| Diversified Industrial Compounders median | $8,198 | $2,748 | 28% | $46,990 | $49,846 | 5.5x | 19.9x | 1.8x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
ROP's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
112
Active years
20
Named deals
6
Avg / active year
5.6
Acq. cash outflow ($MM)
N/A
Banker read
- 01ROP reads as a programmatic acquirer: 112 disclosed acquisitions across 20 active years, or 5.6 per active year. The chart shows activity in 11 of the last 12 visible years.
- 02In the last three years, the file shows 19 acquisitions versus 21 in the prior three; recent activity is broadly steady versus the prior three-year period.
- 03Spend changes the read: $31B of disclosed spend is concentrated in lumpy years, with FY20 the largest year at $6.0B. Recent spend is below the prior three-year period.
Annual acquisitions + disclosed spend
count spend named deal
ROP count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
19 / 21
Last three years is broadly steady vs prior three.
Peak count year
FY25
11 disclosed acquisitions in the peak visible year.
Recent spend
$8.1B
is down 19% vs prior three; peak FY20 at $6.0B.
Named evidence
6 rows
5.4% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Jan 1, 2020 | Vertafore, Inc. | Diversified industrial compounders | $5,400 | and approximately $5,400 in 2020 for the acquisition of Vertafore, Inc., a leading provider of SaaS solutions for the property and casualty insurance industry | 10-K† |
| Oct 4, 2022 | Frontline Education | Diversified industrial compounders | $3,750 | In the last three years, we have deployed approximately $10,500 of capital toward acquisitions, including approximately $3,750 in 2022 for the acquisition of Frontline Education... | 10-K† |
| 2024 | Frontline | Diversified industrial compounders | $3,750 | 2022 included approximately $3,750 for the acquisition of Frontline, a leading provider of SaaS solutions for school administration | 10-K† |
| 2023 | Frontline | Diversified industrial compounders | $3,750 | and approximately $3,750 in 2022 for the acquisition of Frontline, a leading provider of SaaS solutions for school administration | 10-K† |
| Feb 26, 2024 | Procare | Diversified industrial compounders | $1,860 | In 2024, this included approximately $1,860 for the acquisition of Procare, a leading provider of SaaS solutions and integrated payment processing for early childhood education... | 10-K† |
| Dec 13, 2004 | TransCore Holdings, Inc. | Diversified industrial compounders | $597 | On December 13, 2004, we acquired TransCore which is a leading provider of radio frequency identification (“RFID”) and satellite-based communication technologies and related ser... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 12 SEC-backed facts across 5 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
23
Named deal filings
5
Recent SEC filings
10
Evidence clips
6
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.23 rows+-
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Feb 24, 2026 | Annual M&A 10-K | warning (1 warn) | N/A | $3.4B | N/A | SEC filing |
| FY2024 | Feb 24, 2025 | Annual M&A 10-K | warning (1 warn) | 4 | $3.5B | N/A | SEC filing |
| FY2023 | Feb 22, 2024 | Annual M&A 10-K | warning (1 warn) | 4 | $2.1B | N/A | SEC filing |
| FY2022 | Feb 27, 2023 | Annual M&A 10-K | warning (1 warn) | 9 | $3.8B | N/A | SEC filing |
| FY2021 | Feb 22, 2022 | Annual M&A 10-K | warning (1 warn) | 7 | $217MM | N/A | SEC filing |
| FY2020 | Feb 22, 2021 | Annual M&A 10-K | warning (1 warn) | 6 | $6.0B | N/A | SEC filing |
| FY2019 | Feb 28, 2020 | Annual M&A 10-K | warning (1 warn) | N/A | $2.4B | N/A | SEC filing |
| FY2018 | Feb 25, 2019 | Annual M&A 10-K | warning (1 warn) | 7 | $1.3MM | N/A | SEC filing |
| FY2017 | Feb 23, 2018 | Annual M&A 10-K | warning (1 warn) | 4 | $154MM | N/A | SEC filing |
| FY2016 | Feb 27, 2017 | Annual M&A 10-K | warning (1 warn) | 6 | $3.7B | N/A | SEC filing |
| FY2015 | Feb 26, 2016 | Annual M&A 10-K | warning (1 warn) | 9 | $1.8B | N/A | SEC filing |
| FY2014 | Feb 20, 2015 | Annual M&A 10-K | warning (1 warn) | 3 | $305MM | N/A | SEC filing |
| FY2013 | Feb 21, 2014 | Annual M&A 10-K | warning (1 warn) | 2 | $1.1B | N/A | SEC filing |
| FY2012 | Feb 25, 2013 | Annual M&A 10-K | accepted | 1 | $1.5B | $1.4B | SEC filing |
| FY2011 | Feb 24, 2012 | Annual M&A 10-K | warning (1 warn) | 3 | $234MM | N/A | SEC filing |
| FY2010 | Feb 25, 2011 | Annual M&A 10-K | warning (1 warn) | 2 | $536MM | N/A | SEC filing |
| FY2009 | Feb 26, 2010 | Annual M&A 10-K | quarantined (1 warn, 1 issue) | 2 | $355MM | N/A | SEC filing |
| FY2008 | Mar 2, 2009 | Annual M&A 10-K | warning (1 warn) | 6 | $705MM | N/A | SEC filing |
| FY2007 | Feb 29, 2008 | Annual M&A 10-K | warning (1 warn) | 5 | $107B | N/A | SEC filing |
| FY2006 | Mar 1, 2007 | Annual M&A 10-K | warning (1 warn) | 5 | $352MM | N/A | SEC filing |
| FY2005 | Mar 16, 2006 | Annual M&A 10-K | warning (1 warn) | 3 | $330MM | N/A | SEC filing |
| FY2004 | Mar 16, 2005 | Annual M&A 10-K | warning (1 warn) | 2 | $641MM | $597MM | SEC filing |
| FY2003 | Mar 15, 2004 | Annual M&A 10-K | warning (1 warn) | 1 | $493MM | N/A | SEC filing |
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.5 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Feb 24, 2026 | 10-K | Procare | FinancialsAnnual M&ANamed deals | SEC filing |
| Feb 24, 2025 | 10-K | Frontline | Annual M&ANamed deals | SEC filing |
| Feb 22, 2024 | 10-K | Frontline | Annual M&ANamed deals | SEC filing |
| Feb 27, 2023 | 10-K | Vertafore, Inc.; Frontline Education | Annual M&ANamed deals | SEC filing |
| Mar 16, 2005 | 10-K | TransCore Holdings, Inc. | Annual M&ANamed deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.10 rows+-
| Filing date | Form | Items | Description | Support | Source |
|---|---|---|---|---|---|
| Feb 24, 2026 | 10-K | N/A | 10-K | FinancialsAnnual M&ANamed dealsRecent SEC | SEC filing |
| May 1, 2026 | 10-Q | N/A | 10-Q | Recent SEC | SEC filing |
| May 1, 2026 | 10-Q | N/A | Quarterly report from SEC company index | Recent SEC | SEC filing |
| Apr 23, 2026 | 8-K | 2.02,9.01 | 8-K | Recent SEC | SEC filing |
| Apr 7, 2026 | DEFA14A | N/A | DEFA14A | Recent SEC | SEC filing |
| Apr 7, 2026 | DEF 14A | N/A | DEF 14A | Recent SEC | SEC filing |
| Apr 1, 2026 | 8-K | 1.01,1.02,2.03,9.01 | 8-K | Recent SEC | SEC filing |
| Feb 1, 2026 | 10-K | N/A | Annual report from SEC company index | Recent SEC | SEC filing |
| Jan 27, 2026 | 8-K | 2.02,9.01 | 8-K | Recent SEC | SEC filing |
| Oct 31, 2025 | 10-Q | N/A | 10-Q | Recent SEC | SEC filing |
Evidence clipsShort excerpts used on the page; expand only when you want the language.6 rows+-
Medium
Frontline Education
10-K - Feb 27, 2023
In the last three years, we have deployed approximately $10,500 of capital toward acquisitions, including approximately $3,750 in 2022 for the acquisition of Frontline Education, a leading provider of Software-as-a-Serv…
Frontline
10-K - Feb 24, 2025
2022 included approximately $3,750 for the acquisition of Frontline, a leading provider of SaaS solutions for school administration
Frontline
10-K - Feb 22, 2024
and approximately $3,750 in 2022 for the acquisition of Frontline, a leading provider of SaaS solutions for school administration
Procare
10-K - Feb 24, 2026
In 2024, this included approximately $1,860 for the acquisition of Procare, a leading provider of SaaS solutions and integrated payment processing for early childhood education centers
TransCore Holdings, Inc.
10-K - Mar 16, 2005
On December 13, 2004, we acquired TransCore which is a leading provider of radio frequency identification (“RFID”) and satellite-based communication technologies and related services that are used ...
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.