ROP Roper Technologies, Inc. - Common Stock
$400.53
Price · Aug 18, 2026
Fundamentals as of Jul 31, 2026
52W Range
$306–$542
40% of range
Analyst Rating
HOLD
26 analysts
Price Target
$445
+11% upside
P/E (TTM)
28.2
ROE
7.8%
Net Profit Margin
19.4%
About Roper Technologies, Inc. - Common Stock Company overview from Wikipedia
Roper Technologies, Inc. is a holding company that owns companies in the technology sector.
Read more
Roper Technologies, Inc. is a holding company that owns companies in the technology sector.
The company operates three divisions: Application Software (55% of 2024 revenues), which includes Aderant, Clinisys, Data Innovations, Deltek, Frontline, IntelliTrans, PowerPlan, Procare, Strata, Transact/CBORD, and Vertafore; Network Software (21% of 2024 revenues), which includes ConstructConnect, DAT Solutions, The Foundry Visionmongers, iPipeline, iTradeNetwork, Loadlink, MHA, SHP, and SoftWriters; and Technology Enabled Products (24% of 2024 revenues), which includes CIVCO Medical Solutions, FMI, Inovonics, IPA, Neptune, Northern Digital, rf IDEAS, and Verathon.
## History
George D. Roper founded the company in 1890 as a manufacturer of home appliances, pumps, and other industrial products. He had part ownership of the Van Wie Gas Stove Company of Cleveland. The Van Wie plant moved to Rockford, Illinois and passed into the hands trustees in the early 1890s. George D. Roper became the sole owner of the Van Wie Gas Stove company after the company's debts had been paid off on September 1, 1894. Ten days later, a fire destroyed the facility. The factory was rebuilt and renamed as the Eclipse Gas Stove Company, and later expanded in 1906 to include the Trahern Pump Company, founded in 1857.
In 1957, Roper sold his stove business to Florence Stove Co. of Kankakee, Illinois. The stoves continued to operate under the name George D. Roper, despite the original company changing its name to Roper Pump Company.
In 1966, Roper acquired David Bradley Manufacturing Works from Sears Roebuck & Co..
In 1981, Dexter Corporation acquired the company.
In 1982, Roper moved his appliance production factory (originally Florence Stove Company) from Kankakee, Illinois to a plant in LaFayette, Georgia. The Kankakee factory was razed in 2016.
In 1988, Electrolux purchased Roper's lawn and garden products division.
In 1989, Whirlpool Corporation acquired the Roper brand.
In 1992, the company once again became a public company via an initial public offering.
Between 2001 and 2018, Brian Jellison, a former executive of General Electric and Ingersoll-Rand, served as CEO.
In April 2015, Roper Industries Inc. changed its corporate name to Roper Technologies, Inc.
=== Acquisitions ===
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ROP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$400.53
Market Cap
$42.70B
P/E (TTM)
28.2
EPS (TTM)
$14.20
Revenue (TTM)
$7.90B
Div Yield
0.83%
ROE
7.8%
Debt/Equity
0.5
52W Range
$306 – $542
ROP Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$7.90B
2016-12-31
→
2025-12-31
EPS
$14.20
2016-12-31
→
2025-12-31
Free Cash Flow
—
2016-12-31
→
2018-12-31
Margins
19.4%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ROP
Peer Median
P/E (TTM)
28.2
40.4
P/S (TTM)
5.4
9.3
P/B
2.1
12.2
EV / EBITDA
16.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ROP
Peer Median
Gross Margin
69.2%
82.1%
Operating Margin
28.3%
—
Net Profit Margin
19.4%
21.3%
ROA
4.7%
11.1%
ROE
7.8%
22.5%
ROIC
6.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ROP
Peer Median
Debt / Equity
0.5
—
Current Ratio
0.5
1.3
Quick Ratio
0.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ROP
Peer Median
Revenue YoY
12.3%
—
Revenue CAGR 3Y
13.7%
—
Revenue CAGR 5Y
14.5%
—
EPS YoY
-1.1%
—
Net Income YoY
-0.84%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ROP
Peer Median
Payout Ratio
23.1%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.83%
Payout Ratio
23.1%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 8, 2026 | $0.9100 |
| April 6, 2026 | $0.9100 |
| Jan. 2, 2026 | $0.9100 |
| Oct. 3, 2025 | $0.8250 |
| July 8, 2025 | $0.8250 |
| April 4, 2025 | $0.8250 |
| Jan. 3, 2025 | $0.8250 |
| Oct. 8, 2024 | $0.7500 |
| July 8, 2024 | $0.7500 |
| April 4, 2024 | $0.7500 |
| Jan. 8, 2024 | $0.7500 |
| Oct. 5, 2023 | $0.6830 |
| July 7, 2023 | $0.6830 |
| April 5, 2023 | $0.6830 |
| Jan. 6, 2023 | $0.6830 |
| Oct. 5, 2022 | $0.6200 |
| July 7, 2022 | $0.6200 |
| April 4, 2022 | $0.6200 |
| Jan. 7, 2022 | $0.6200 |
| Oct. 5, 2021 | $0.5630 |
ROP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
26 analysts
- Strong Buy 5 19.2%
- Buy 6 23.1%
- Hold 13 50.0%
- Sell 2 7.7%
- Strong Sell 0 0.0%
12-Month Price Target
15 analysts · 2026-08-16
Median
$424.00
Mean
$445.20
Now
$400.53
Low
$335.00
High
$550.00
Median target
$424.00
+5.9%
Mean target
$445.20
+11.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $5.38 | $5.34 | 0.04% |
| March 31, 2026 | $5.16 | $5.03 | 0.13% |
| Dec. 31, 2025 | $5.21 | $5.19 | 0.02% |
| Sept. 30, 2025 | $5.14 | $5.16 | -0.02% |
| June 30, 2025 | $4.87 | $4.88 | -0.01% |
| March 31, 2025 | $4.78 | $4.79 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ROP | $47.45B | 31.3 | 12.3% | 19.4% | 7.8% | 69.2% |
| DDOG | $47.94B | 438.7 | 27.7% | 3.1% | 3.1% | 80.0% |
| SNPS | $84.41B | 56.4 | 15.1% | 18.9% | 7.1% | 77.0% |
| ADSK | $53.90B | 48.6 | 17.5% | 15.6% | 39.0% | 91.0% |
| WDAY | $45.51B | 67.8 | 13.1% | 7.3% | 8.2% | — |
| MSTR | — | -10.0 | 3.0% | -806.3% | -8.4% | 68.7% |
| ZM | — | 14.9 | 4.4% | 39.0% | 20.3% | 77.0% |
| FICO | $35.56B | 56.4 | 15.9% | 32.8% | -45.4% | — |
| IOT | $16.29B | -1402.5 | 29.6% | -0.56% | -0.69% | 76.7% |
| U | $19.12B | -46.0 | 2.0% | -21.8% | -12.5% | 74.2% |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.90B | $7.04B | $6.18B | $5.37B | $4.83B | $4.02B | $4.73B | $5.19B | $4.61B | $3.79B | $3.58B | $3.55B | |
| Cost of Revenue | $2.43B | $2.16B | $1.87B | $1.62B | $1.43B | $1.19B | $1.59B | $1.91B | $1.74B | $1.46B | $1.42B | $1.45B | |
| Gross Profit | $5.47B | $4.88B | $4.31B | $3.75B | $3.41B | $2.83B | $3.14B | $3.28B | $2.86B | $2.33B | $2.16B | $2.10B | |
| R&D Expense | $852M | $748M | $646M | $530M | $485M | $382M | $380M | $377M | $281M | $195M | $164M | $148M | |
| SG&A Expense | $3.24B | $2.88B | $2.56B | $2.23B | $2.07B | $1.75B | $1.81B | $1.88B | $1.65B | $1.28B | $1.14B | $1.10B | |
| Operating Income | $2.24B | $2.00B | $1.75B | $1.52B | $1.24B | $1.08B | $1.33B | $1.40B | $1.21B | $1.05B | $1.03B | $999M | |
| Interest Expense | · | · | $165M | $192M | $234M | $218M | $186M | $182M | $181M | $112M | $84M | $79M | |
| Other Non-op | $200.0K | $-5M | $-3M | $-50M | $25M | $-3M | $-5M | $0 | $5M | $-2M | $59M | $620.0K | |
| Pretax Income | $1.94B | $1.97B | $1.74B | $1.28B | $1.03B | $861M | $2.06B | $1.20B | $1.03B | $941M | $1.00B | $921M | |
| Income Tax | $400M | $418M | $375M | $296M | $227M | $188M | $417M | $254M | $63M | $282M | $306M | $275M | |
| Net Income | $1.54B | $1.55B | $1.38B | $4.54B | $1.15B | $950M | $1.77B | $944M | $972M | $659M | $696M | $646M | |
| EPS (Basic) | $14.30 | $14.47 | $12.98 | $42.92 | $10.95 | $9.08 | $17.02 | $9.15 | $9.51 | $6.50 | $6.92 | $6.47 | |
| EPS (Diluted) | $14.20 | $14.35 | $12.89 | $42.55 | $10.82 | $8.98 | $16.82 | $9.05 | $9.39 | $6.43 | $6.85 | $6.40 | |
| Shares (Basic) | 107,400,000 | 107,100,000 | 106,600,000 | 105,900,000 | 105,300,000 | 104,600,000 | 103,900,000 | 103,200,000 | 102,200,000 | 101,300,000 | 100,616,000 | 99,916,000 | |
| Shares (Diluted) | 108,200,000 | 108,000,000 | 107,400,000 | 106,800,000 | 106,500,000 | 105,700,000 | 105,100,000 | 104,400,000 | 103,500,000 | 102,500,000 | 101,597,000 | 100,884,000 | |
| EBITDA | $3.13B | $2.81B | $2.50B | $2.17B | $2.11B | $1.95B | $1.91B | $1.76B | $1.56B | $1.30B | $1.23B | $1.20B |
Balance Sheet 30
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $297M | $188M | $214M | $793M | $352M | $308M | $710M | $364M | $671M | $757M | $778M | $610M | |
| Receivables | $1.00B | $885M | $830M | $724M | $688M | $746M | $792M | $701M | $642M | $620M | $488M | $512M | |
| Inventory | $142M | $121M | $119M | $111M | $69M | $165M | $199M | $191M | $205M | $182M | $190M | $194M | |
| Prepaid Expense | $236M | $196M | $164M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | · | · | $164M | $151M | $136M | $114M | $98M | $80M | $74M | $56M | $39M | $46M | |
| Current Assets | $1.93B | $1.54B | $1.48B | $1.93B | $2.42B | $1.75B | $2.00B | $1.61B | $1.76B | $1.78B | $1.62B | $1.51B | |
| PP&E (Net) | $157M | $150M | $120M | $85M | $83M | $127M | $140M | $129M | $142M | $141M | $106M | $111M | |
| PP&E (Gross) | $443M | $428M | $388M | $337M | $328M | $445M | $475M | $441M | $459M | $436M | $401M | $406M | |
| Accum. Depreciation | $286M | $278M | $269M | $251M | $246M | $318M | $335M | $312M | $317M | $295M | $296M | $295M | |
| Goodwill | $21.34B | $19.31B | $17.12B | $15.95B | $13.48B | $13.34B | $10.39B | $9.35B | $8.82B | $8.65B | $5.82B | $4.71B | |
| Intangibles | $9.76B | $9.06B | $8.21B | $8.03B | $6.51B | $7.17B | $4.67B | $3.84B | $3.48B | $3.66B | $2.53B | $1.98B | |
| Other Non-current Assets | $517M | $443M | $408M | $395M | $370M | $386M | $391M | $101M | $88M | $74M | $60M | $60M | |
| Total Assets | $34.58B | $31.33B | $28.17B | $26.98B | $23.71B | $24.02B | $18.11B | $15.25B | $14.32B | $14.32B | $10.17B | $8.40B | |
| Accounts Payable | · | · | · | · | · | $178M | $162M | $165M | $171M | $152M | $140M | · | |
| Accrued Liabilities | $642M | $546M | $446M | $455M | $399M | $419M | $346M | $258M | $267M | $219M | $169M | $161M | |
| Current Liabilities | $3.73B | $3.83B | $2.96B | $2.89B | $3.12B | $2.44B | $2.40B | $1.45B | $2.03B | $1.45B | $720M | $628M | |
| Capital Leases | $185M | $155M | $159M | $164M | $157M | $193M | $220M | · | · | · | · | · | |
| Deferred Tax | $1.88B | $1.63B | $1.51B | $1.68B | $1.47B | $1.53B | $1.11B | $931M | $830M | $1.18B | $811M | $736M | |
| Other Non-current Liabilities | $491M | $424M | $416M | $411M | $390M | $444M | $438M | $192M | $239M | $104M | $74M | $91M | |
| Total Liabilities | $14.70B | $12.47B | $10.72B | $10.94B | $12.15B | $13.54B | $8.62B | $7.51B | $7.45B | $8.54B | $4.87B | $3.64B | |
| Long-term Debt | $9.30B | $7.62B | $6.33B | $6.66B | $7.92B | $9.56B | $5.28B | $4.94B | $5.16B | $6.21B | $3.27B | $2.20B | |
| Total Debt | $9.30B | $7.62B | $6.33B | $6.66B | $7.92B | $9.57B | $5.28B | $4.94B | $5.16B | $6.21B | $3.27B | $2.21B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Paid-in Capital | $3.29B | $3.01B | $2.77B | $2.51B | $2.31B | $2.10B | $1.90B | $1.75B | $1.60B | $1.49B | $1.42B | $1.33B | |
| Retained Earnings | $17.21B | $16.03B | $14.82B | $13.73B | $9.46B | $8.55B | $7.82B | $6.25B | $5.46B | $4.64B | $4.11B | $3.52B | |
| Treasury Stock | $516M | $16M | $17M | $17M | $18M | $18M | $18M | $18M | $19M | $19M | $19M | $19M | |
| AOCI | $-101M | $-166M | $-123M | $-187M | $-183M | $-147M | $-213M | $-243M | $-186M | $-325M | $-213M | $-72M | |
| Stockholders' Equity | $19.88B | $18.87B | $17.44B | $16.04B | $11.56B | $10.48B | $9.49B | $7.74B | $6.86B | $5.79B | $5.30B | $4.76B | |
| Liabilities + Equity | $34.58B | $31.33B | $28.17B | $26.98B | $23.71B | $24.02B | $18.11B | $15.25B | $14.32B | $14.32B | $10.17B | $8.40B | |
| Shares Outstanding | 106,600,000 | 107,300,000 | 106,900,000 | 106,100,000 | 105,500,000 | 104,900,000 | 104,100,000 | 103,400,000 | 102,500,000 | 101,700,000 | 100,900,000 | 100,126,000 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $898M | $813M | $755M | $650M | $616M | $492M | $409M | $367M | $345M | $240M | $204M | $197M | |
| Stock-based Comp | $166M | $146M | $124M | $118M | $123M | $108M | $101M | $134M | $83M | $79M | $62M | $63M | |
| Amort. of Intangibles | $858M | $776M | $720M | $613M | $572M | $451M | $366M | $318M | $296M | $203M | $166M | $156M | |
| Other Non-cash | $-60M | $-115M | $-228M | $-4.58B | $89M | $-67M | $-827M | $-15M | $-165M | $-14M | $-33M | $-66M | |
| Operating Cash Flow | $2.54B | $2.39B | $2.04B | $735M | $2.01B | $1.53B | $1.46B | $1.43B | $1.23B | $964M | $929M | $840M | |
| CapEx | · | · | · | · | · | · | · | $49M | $49M | $37M | $36M | $38M | |
| Investing Cash Flow | $-3.39B | $-3.47B | $-2.13B | $1.21B | $-143M | $-6.07B | $-1.30B | $-1.34B | $-210M | $-3.75B | · | $-348M | |
| Stock Repurchased | $500M | $0 | $0 | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-500M | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $355M | $322M | $290M | $262M | $236M | $214M | $192M | $170M | $143M | $121M | $100M | $80M | |
| Financing Cash Flow | $924M | $1.07B | $-500M | $-1.47B | $-1.81B | $4.14B | $177M | $-388M | $-1.17B | $2.81B | · | $-298M | |
| Net Change in Cash | $109M | $-26M | $-578M | $441M | $43M | $-401M | $345M | $-307M | $-86M | $-21M | $168M | $151M | |
| Taxes Paid | $414M | $484M | $456M | · | · | $515M | $371M | $322M | $320M | $330M | $281M | $301M | |
| Free Cash Flow | · | · | · | · | · | · | · | $1.38B | $1.19B | $926M | $893M | $803M | |
| Levered FCF | · | · | · | · | · | · | · | $1.24B | $1.02B | $848M | $834M | $748M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.2% | 69.3% | 69.7% | 69.9% | 67.8% | 64.1% | 63.9% | 63.2% | 62.2% | 61.5% | 60.4% | 59.2% | |
| Operating Margin | 28.3% | 28.4% | 28.2% | 28.4% | 25.6% | 25.9% | 27.9% | 26.9% | 26.3% | 27.8% | 28.7% | 28.2% | |
| Net Margin | 19.4% | 22.0% | 22.4% | 84.6% | 20.0% | 17.2% | 32.9% | 18.2% | 21.1% | 17.4% | 19.4% | 18.2% | |
| Pretax Margin | 24.5% | 28.0% | 28.2% | 23.9% | 22.0% | 21.9% | 41.5% | 23.1% | 22.5% | 24.8% | 28.0% | 26.0% | |
| EBITDA Margin | 39.6% | 39.9% | 40.5% | 40.5% | 36.6% | 35.3% | 35.7% | 34.0% | 33.8% | 34.2% | 34.4% | 33.7% | |
| ROA | 4.7% | 5.2% | 5.0% | 17.9% | 4.8% | 4.5% | 10.6% | 6.4% | 6.8% | 5.4% | 7.5% | 7.8% | |
| ROE | 7.8% | 8.3% | 8.0% | 30.4% | 10.1% | 9.2% | 19.6% | 12.3% | 15.4% | 11.9% | 13.9% | 14.4% | |
| ROIC | 6.1% | 5.9% | 5.8% | 5.2% | 5.9% | 5.6% | 8.1% | 8.7% | 9.5% | 6.2% | 8.3% | 10.1% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 0.4 | 0.5 | 0.7 | 0.8 | 0.7 | 0.8 | 1.1 | 0.9 | 1.2 | 2.2 | 2.4 | |
| Quick Ratio | 0.3 | 0.3 | 0.4 | 0.5 | 0.4 | 0.5 | 0.6 | 0.7 | 0.6 | 1.0 | 1.8 | 1.8 | |
| Debt / Equity | 0.5 | 0.4 | 0.4 | 0.4 | 0.7 | 0.9 | 0.6 | 0.6 | 0.8 | 1.1 | 0.6 | 0.5 | |
| LT Debt / Equity | 0.4 | 0.3 | 0.3 | 0.4 | 0.6 | 0.9 | 0.5 | 0.6 | 0.6 | 1.0 | 0.6 | 0.5 | |
| Interest Coverage | · | · | 10.6 | 7.9 | 6.3 | 6.5 | 8.0 | 7.7 | 6.7 | 9.5 | 12.2 | 12.7 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | |
| Inventory Turnover | 18.5 | 18.1 | 16.3 | 17.9 | 10.9 | 10.0 | 10.0 | 9.7 | 9.0 | 7.8 | 7.4 | 7.3 | |
| Receivables Turnover | 8.4 | 8.2 | 7.9 | 7.6 | 7.3 | 6.7 | 7.2 | 7.7 | 7.3 | 6.8 | 7.2 | 6.9 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.3% | 13.9% | 15.0% | 11.1% | 20.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.7% | 13.4% | 15.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -1.1% | 11.3% | -69.7% | 293.2% | 20.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -30.6% | 9.9% | 12.8% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 9.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -0.84% | 11.9% | -69.5% | 294.3% | 21.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -30.3% | 10.4% | 13.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 10.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 10.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.90B | $7.04B | $6.18B | $5.37B | $4.83B | $4.02B | $4.73B | $5.19B | $4.61B | $3.79B | $3.58B | $3.55B | |
| Net Income TTM | $1.54B | $1.55B | $1.38B | $4.54B | $1.15B | $950M | $1.77B | $944M | $972M | $659M | $696M | $646M | |
| Market Cap | $47.45B | $55.78B | $58.28B | $45.84B | $51.89B | $45.22B | $36.88B | $27.56B | $26.55B | $19M | $19M | $16M | |
| Enterprise Value | $56.45B | $63.21B | $64.39B | $51.71B | $59.46B | $54.48B | $41.44B | $32.14B | $31.03B | $5.47B | $2.51B | $1.62B | |
| P/E | 31.3 | 36.2 | 42.3 | 10.2 | 45.5 | 48.0 | 21.1 | 29.4 | 27.6 | 28.5 | 27.7 | 24.4 | |
| P/S | 6.0 | 7.9 | 9.4 | 8.5 | 10.7 | 11.2 | 7.8 | 5.3 | 5.8 | 0.0 | 0.0 | 0.0 | |
| P/B | 2.4 | 3.0 | 3.3 | 2.9 | 4.5 | 4.3 | 3.9 | 3.6 | 3.9 | 0.0 | 0.0 | 0.0 | |
| P / Cash Flow | 18.7 | 23.3 | 28.6 | 62.4 | 25.8 | 29.7 | 25.2 | 19.3 | 21.5 | 0.0 | 0.0 | 0.0 | |
| P / FCF | · | · | · | · | · | · | · | 20.0 | 22.4 | 0.0 | 0.0 | 0.0 | |
| EV / EBITDA | 18.0 | 22.5 | 25.8 | 23.8 | 28.1 | 27.9 | 21.6 | 18.2 | 20.0 | 4.2 | 2.0 | 1.4 | |
| EV / FCF | · | · | · | · | · | · | · | 23.3 | 26.2 | 5.9 | 2.8 | 2.0 | |
| EV / Revenue | 7.1 | 9.0 | 10.4 | 9.6 | 12.3 | 13.5 | 8.8 | 6.2 | 6.7 | 1.4 | 0.7 | 0.5 | |
| Dividend Yield | 0.75% | 0.58% | 0.50% | 0.57% | 0.46% | 0.47% | 0.52% | 0.62% | 0.54% | 650.6% | 524.1% | 510.1% | |
| Earnings Yield | 3.2% | 2.8% | 2.4% | 9.8% | 2.2% | 2.1% | 4.8% | 3.4% | 3.6% | 3.5% | 3.6% | 4.1% | |
| Payout Ratio | 23.1% | 20.8% | 21.0% | 5.8% | 20.5% | 22.5% | 10.8% | 18.0% | 14.7% | 18.4% | 14.4% | 12.4% | |
| Annual Payout | $355M | $322M | $290M | $262M | $236M | $214M | $192M | $170M | $143M | $121M | $100M | $80M |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.11B | $2.10B | $2.06B | $2.02B | $1.94B | $1.88B | $1.88B | $1.76B | $1.72B | $1.68B | $1.61B | $1.56B | $1.53B | $1.47B | $1.43B | $1.35B | |
| Cost of Revenue | $639M | $642M | $629M | $614M | $598M | $589M | $595M | $543M | $524M | $500M | $488M | $467M | $464M | $451M | $429M | $408M | |
| Gross Profit | $1.47B | $1.45B | $1.43B | $1.40B | $1.35B | $1.29B | $1.28B | $1.22B | $1.19B | $1.18B | $1.13B | $1.10B | $1.07B | $1.02B | $1.00B | $942M | |
| SG&A Expense | $886M | $884M | $842M | $830M | $797M | $768M | $758M | $725M | $699M | $700M | $662M | $650M | $632M | $618M | $590M | $549M | |
| Operating Income | $585M | $570M | $588M | $573M | $548M | $526M | $525M | $497M | $494M | $481M | $463M | $446M | $435M | $401M | $412M | $393M | |
| Interest Expense | · | · | · | · | · | · | · | · | $68M | $53M | · | $42M | $35M | $37M | · | $41M | |
| Other Non-op | $-500.0K | $-3M | $-800.0K | $2M | $-500.0K | $-500.0K | $-4M | $900.0K | $-600.0K | $-1M | $-3M | $5M | $-3M | $-2M | $-50M | $4M | |
| Pretax Income | $1.31B | $635M | $535M | $498M | $485M | $418M | $591M | $467M | $425M | $484M | $477M | $443M | $464M | $360M | $308M | $356M | |
| Income Tax | $140M | $126M | $106M | $100M | $107M | $87M | $128M | $99M | $88M | $102M | $99M | $97M | $103M | $76M | $61M | $79M | |
| Net Income | $1.17B | $509M | $428M | $398M | $378M | $331M | $462M | $368M | $337M | $382M | $389M | $347M | $365M | $283M | $1.93B | $327M | |
| EPS (Basic) | $11.64 | $4.88 | $4.00 | $3.70 | $3.52 | $3.08 | $4.32 | $3.43 | $3.15 | $3.57 | $3.65 | $3.25 | $3.42 | $2.66 | $18.17 | $3.08 | |
| EPS (Diluted) | $11.62 | $4.87 | $3.97 | $3.68 | $3.49 | $3.06 | $4.29 | $3.40 | $3.12 | $3.54 | $3.61 | $3.23 | $3.40 | $2.65 | $18.03 | $3.06 | |
| Shares (Basic) | 100,400,000 | 104,300,000 | -215,200,000 | 107,600,000 | 107,600,000 | 107,400,000 | -214,200,000 | 107,200,000 | 107,100,000 | 107,000,000 | -213,000,000 | 106,700,000 | 106,600,000 | 106,300,000 | -211,600,000 | 106,000,000 | |
| Shares (Diluted) | 100,600,000 | 104,600,000 | -216,800,000 | 108,400,000 | 108,400,000 | 108,200,000 | -215,900,000 | 108,100,000 | 107,900,000 | 107,900,000 | -214,600,000 | 107,600,000 | 107,400,000 | 107,000,000 | -213,500,000 | 106,800,000 | |
| EBITDA | $585M | $570M | · | $573M | $548M | $526M | · | $497M | $494M | $481M | · | $446M | $435M | $401M | · | $393M |
Balance Sheet 29
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $365M | $383M | $297M | $320M | $242M | $373M | $188M | $270M | $252M | $198M | · | $300M | $1.46B | $1.18B | · | $1.89B | |
| Receivables | $927M | $877M | $1.00B | $910M | $869M | $813M | $885M | $821M | $740M | $764M | · | $746M | $684M | $629M | · | $630M | |
| Inventory | $145M | $144M | $142M | $141M | $132M | $126M | $121M | $129M | $129M | $126M | · | $122M | $118M | $115M | · | $101M | |
| Prepaid Expense | $254M | $276M | $236M | $228M | $221M | $237M | $196M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | · | · | · | · | · | · | · | $199M | $198M | $194M | · | $169M | $179M | $180M | · | $139M | |
| Current Assets | $1.92B | $1.91B | $1.93B | $1.80B | $1.65B | $1.70B | $1.54B | $1.59B | $1.49B | $1.43B | · | $1.50B | $2.61B | $2.23B | · | $3.99B | |
| PP&E (Net) | $159M | $158M | $157M | $158M | $156M | $150M | $150M | $133M | $116M | $120M | · | $98M | $94M | $86M | · | $83M | |
| PP&E (Gross) | · | · | $443M | · | · | · | $428M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $286M | · | · | · | $278M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $21.33B | $21.35B | $21.34B | $21.34B | $20.51B | $19.41B | $19.31B | $19.27B | $18.31B | $18.31B | $17.12B | $17.05B | $16.00B | $15.96B | $15.95B | $13.67B | |
| Intangibles | $9.35B | $9.56B | $9.76B | $9.97B | $9.63B | $8.92B | $9.06B | $9.21B | $8.65B | $8.83B | · | $8.34B | $7.72B | $7.87B | · | $6.24B | |
| Other Non-current Assets | $554M | $539M | $517M | $510M | $480M | $456M | $443M | $433M | $409M | $408M | · | $406M | $400M | $388M | · | $359M | |
| Total Assets | $35.17B | $34.55B | $34.58B | $34.58B | $33.22B | $31.42B | $31.33B | $31.55B | $29.85B | $29.98B | · | $28.19B | $27.46B | $27.13B | · | $24.40B | |
| Accrued Liabilities | $589M | $619M | $642M | $538M | $520M | $544M | $546M | $468M | $470M | $464M | · | $390M | $397M | $413M | · | $366M | |
| Current Liabilities | $3.47B | $3.58B | $3.73B | $3.13B | $3.56B | $3.69B | $3.83B | $3.29B | $2.81B | $2.91B | · | $2.81B | $2.76B | $2.78B | · | $2.84B | |
| Capital Leases | · | · | $185M | · | · | · | $155M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $1.90B | $1.92B | $1.88B | $1.82B | $1.71B | $1.61B | $1.63B | $1.65B | $1.59B | $1.62B | · | $1.55B | $1.59B | $1.65B | · | $1.36B | |
| Other Non-current Liabilities | $500M | $492M | $491M | $490M | $457M | $439M | $424M | $420M | $391M | $424M | · | $412M | $395M | $409M | · | $373M | |
| Total Liabilities | $16.47B | $15.73B | $14.70B | $14.59B | $13.59B | $12.20B | $12.47B | $13.04B | $11.71B | $12.18B | · | $11.15B | $10.71B | $10.80B | · | $10.54B | |
| Long-term Debt | $11.32B | $10.46B | $9.30B | $9.45B | $8.86B | $7.46B | $7.62B | $8.38B | $7.42B | $7.72B | · | $6.88B | $6.67B | $6.66B | · | $6.66B | |
| Total Debt | $11.32B | $10.46B | · | $9.45B | $8.86B | $7.46B | · | $8.38B | $7.42B | $7.72B | · | $6.88B | $6.67B | $6.66B | · | $6.66B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Paid-in Capital | $3.39B | $3.33B | $3.29B | $3.24B | $3.19B | $3.11B | $3.01B | $2.98B | $2.92B | $2.84B | · | $2.72B | $2.66B | $2.57B | · | $2.47B | |
| Retained Earnings | $18.70B | $17.62B | $17.21B | $16.88B | $16.57B | $16.28B | $16.03B | $15.66B | $15.37B | $15.12B | · | $14.51B | $14.23B | $13.94B | · | $11.87B | |
| Treasury Stock | $3.25B | $2.02B | $516M | $16M | $16M | $16M | $16M | $16M | $17M | $17M | · | $17M | $17M | $17M | · | $17M | |
| AOCI | $-136M | $-114M | $-101M | $-110M | $-104M | $-147M | $-166M | $-107M | $-143M | $-142M | · | $-177M | $-127M | $-163M | · | $-469M | |
| Stockholders' Equity | $18.70B | $18.82B | $19.88B | $19.99B | $19.63B | $19.22B | $18.87B | $18.52B | $18.14B | $17.80B | $17.44B | $17.04B | $16.75B | $16.33B | $16.04B | $13.86B | |
| Liabilities + Equity | $35.17B | $34.55B | $34.58B | $34.58B | $33.22B | $31.42B | $31.33B | $31.55B | $29.85B | $29.98B | · | $28.19B | $27.46B | $27.13B | · | $24.40B | |
| Shares Outstanding | 98,900,000 | 102,400,000 | 106,600,000 | · | · | · | 107,300,000 | · | · | · | 106,900,000 | · | · | · | 106,100,000 | · |
Cash Flow 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $56M | $53M | $38M | $46M | $44M | $39M | $33M | $40M | $40M | $34M | $24M | $36M | $34M | $30M | $28M | $30M | |
| Amort. of Intangibles | $220M | $220M | $220M | $221M | $213M | $204M | $202M | $197M | $192M | $185M | $187M | $182M | $176M | $175M | $174M | $147M | |
| Operating Cash Flow | $470M | $592M | $738M | $870M | $404M | $529M | $722M | $755M | $384M | $532M | $622M | $630M | $320M | $464M | $72M | $252M | |
| Investing Cash Flow | $-16M | $-56M | $-34M | $-1.30B | $-1.90B | $-147M | $60M | $-1.64B | $-9M | $-1.88B | $-118M | $-1.96B | $-24M | $-27M | $-1.15B | $-347M | |
| Stock Repurchased | $1.23B | $1.50B | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-1.50B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $94M | $97M | $89M | $89M | $89M | $89M | $81M | $80M | $80M | $80M | $73M | $73M | $72M | $72M | $66M | $66M | |
| Financing Cash Flow | $-460M | $-445M | $-731M | $514M | $1.35B | $-208M | $-832M | $886M | $-322M | $1.34B | $-603M | $179M | $-23M | $-52M | $-52M | $-850M | |
| Net Change in Cash | $-18M | $86M | $-23M | $78M | $-130M | $185M | $-81M | $18M | $53M | $-16M | $-85M | $-1.16B | $281M | $389M | $-1.10B | $-985M |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.7% | 69.4% | · | 69.5% | 69.2% | 68.7% | · | 69.2% | 69.5% | 70.3% | · | 70.1% | 69.7% | 69.3% | · | 69.8% | |
| Operating Margin | 27.7% | 27.2% | · | 28.4% | 28.2% | 27.9% | · | 28.1% | 28.8% | 28.6% | · | 28.5% | 28.4% | 27.3% | · | 29.1% | |
| Net Margin | 55.4% | 24.3% | · | 19.8% | 19.5% | 17.6% | · | 20.8% | 19.6% | 22.7% | · | 22.2% | 23.8% | 19.3% | · | 24.2% | |
| Pretax Margin | 62.0% | 30.3% | · | 24.7% | 25.0% | 22.2% | · | 26.5% | 24.8% | 28.8% | · | 28.3% | 30.3% | 24.5% | · | 26.3% | |
| EBITDA Margin | 27.7% | 27.2% | · | 28.4% | 28.2% | 27.9% | · | 28.1% | 28.8% | 28.6% | · | 28.5% | 28.4% | 27.3% | · | 29.1% | |
| ROA | 3.4% | 1.5% | · | 1.2% | 1.2% | 1.1% | · | 1.2% | 1.2% | 1.3% | · | 1.3% | 1.4% | 1.1% | · | 1.4% | |
| ROE | 6.1% | 2.7% | · | 2.1% | 2.0% | 1.8% | · | 2.1% | 1.9% | 2.2% | · | 2.2% | 2.4% | 1.9% | · | 2.6% | |
| ROIC | 1.7% | 1.6% | · | 1.6% | 1.5% | 1.6% | · | 1.5% | 1.5% | 1.5% | · | 1.5% | 1.5% | 1.4% | · | 1.5% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.5 | · | 0.6 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.9 | 0.8 | · | 1.4 | |
| Quick Ratio | 0.4 | 0.4 | · | 0.4 | 0.3 | 0.3 | · | 0.3 | 0.4 | 0.3 | · | 0.4 | 0.8 | 0.7 | · | 0.9 | |
| Debt / Equity | 0.6 | 0.6 | · | 0.5 | 0.5 | 0.4 | · | 0.5 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | |
| LT Debt / Equity | 0.6 | 0.5 | · | 0.5 | 0.4 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 7.3 | 9.0 | · | 10.5 | 12.5 | 10.7 | · | 9.5 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 4.6 | 4.8 | · | 4.6 | 4.6 | 4.7 | · | 4.3 | 4.2 | 4.1 | · | 4.2 | 4.4 | 2.8 | · | 3.0 | |
| Receivables Turnover | 2.3 | 2.5 | · | 2.3 | 2.4 | 2.4 | · | 2.3 | 2.4 | 2.4 | · | 2.3 | 2.3 | 2.1 | · | 2.0 |
Valuation (TTM) 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.17B | $7.94B | · | $7.72B | $7.47B | $7.24B | · | $6.78B | $6.57B | $6.39B | · | $6.00B | $5.78B | $5.56B | · | $5.20B | |
| Net Income TTM | $2.45B | $1.62B | · | $1.57B | $1.54B | $1.50B | · | $1.48B | $1.46B | $1.48B | · | $2.92B | $2.90B | $2.81B | · | $2.90B | |
| Market Cap | $33.47B | $36.24B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Enterprise Value | $44.42B | $46.32B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | 14.3 | 23.4 | · | 34.4 | 39.8 | 42.5 | · | 40.7 | 41.8 | 40.7 | · | 17.7 | 17.7 | 16.8 | · | 13.2 | |
| P/S | 4.1 | 4.6 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/B | 1.8 | 1.9 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | · | 61.2 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / EBITDA | 76.0 | 81.3 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 5.4 | 5.8 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 7.0% | 4.3% | · | 2.9% | 2.5% | 2.4% | · | 2.5% | 2.4% | 2.5% | · | 5.7% | 5.7% | 6.0% | · | 7.6% | |
| Payout Ratio | · | 19.1% | · | · | · | 26.8% | · | · | · | 21.1% | · | · | · | 25.5% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $7.90B | $7.04B | $6.18B | $5.37B | $4.83B |
| Gross Margin % | 69.2% | 69.3% | 69.7% | 69.9% | 67.8% |
| Operating Margin % | 28.3% | 28.4% | 28.2% | 28.4% | 25.6% |
| Net Income | $1.54B | $1.55B | $1.38B | $4.54B | $1.15B |
| Diluted EPS | $14.20 | $14.35 | $12.89 | $42.55 | $10.82 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.5 | 0.4 | 0.4 | 0.4 | 0.7 |
| Current Ratio | 0.5 | 0.4 | 0.5 | 0.7 | 0.8 |
| Quick Ratio | 0.3 | 0.3 | 0.4 | 0.5 | 0.4 |
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Institutional owners (13F) 1,183 filers · $23.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 96 (-52 vs prior Q) | 148 (-67 vs prior Q) | 304 (-79 vs prior Q) | 505 (+29 vs prior Q) | +17.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| WINDACRE PARTNERSHIP LLC | $2,920,373,378 | 8,630,200 | 12.44% | Shares |
| Dodge & Cox | $2,389,230,681 | 7,060,583 | 10.18% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,231,073,963 | 6,593,203 | 9.51% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,943,001,203 | 5,741,899 | 8.28% | Shares |
| STATE STREET CORP | $1,745,713,403 | 5,158,880 | 7.44% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $937,954,107 | 2,776,187 | 4.00% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $836,463,872 | 2,471,893 | 3.56% | Shares |
| NORGES BANK | $701,912,902 | 2,074,272 | 2.99% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $638,677,624 | 1,887,401 | 2.72% | Shares |
| FLOSSBACH VON STORCH SE | $448,321,067 | 1,324,865 | 1.91% | Shares |
| AKRE CAPITAL MANAGEMENT LLC | $398,136,815 | 1,176,562 | 1.70% | Shares |
| Ruane, Cunniff & Goldfarb L.P. | $228,380,088 | 674,902 | 0.97% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $206,109,965 | 609,090 | 0.88% | Shares |
| ALLIANCEBERNSTEIN L.P. | $194,889,103 | 550,752 | 0.83% | Shares |
| ProShare Advisors LLC | $194,492,701 | 574,759 | 0.83% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $191,777,457 | 566,735 | 0.82% | Shares |
| GOLDMAN SACHS GROUP INC | $163,578,090 | 483,401 | 0.70% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $134,980,690 | 398,891 | 0.58% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $132,251,948 | 390,827 | 0.56% | Shares |
| MACKENZIE FINANCIAL CORP | $120,303,736 | 355,518 | 0.51% | Shares |
| NZS Capital, LLC | $107,975,850 | 319,087 | 0.46% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $107,326,446 | 303,302 | 0.46% | Shares |
| Woodline Partners LP | $100,096,439 | 295,802 | 0.43% | Shares |
| LOOMIS SAYLES & CO L P | $99,684,957 | 294,586 | 0.42% | Shares |
| Swiss National Bank | $98,221,081 | 290,260 | 0.42% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $92,824,776 | 274,313 | 0.40% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $90,713,561 | 268,074 | 0.39% | Shares |
| Caisse de depot et placement du Quebec | $85,892,180 | 253,826 | 0.37% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $85,796,416 | 253,543 | 0.37% | Shares |
| D. E. Shaw & Co., Inc. | $82,156,016 | 242,785 | 0.35% | Shares |
| OpenArc Corporate Advisory, LLC | $81,562,818 | 241,032 | 0.35% | Shares |
| BARCLAYS PLC | $81,239,320 | 240,076 | 0.35% | Shares |
| VANGUARD GROUP INC | $77,944,489 | 175,105 | 0.33% | Shares |
| Vanguard Global Advisers, LLC | $76,208,135 | 225,208 | 0.32% | Shares |
| BlackRock, Inc. | $75,873,806 | 224,220 | 0.32% | Shares |
| Legal & General Group Plc | $75,667,386 | 223,610 | 0.32% | Shares |
| CIBC Bancorp USA Inc. | $74,440,097 | 219,705 | 0.32% | Shares |
| Gotham Asset Management, LLC | $71,045,996 | 209,953 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $70,440,830 | 208,165 | 0.30% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $68,517,207 | 202,480 | 0.29% | Shares |
| Alyeska Investment Group, L.P. | $68,275,935 | 201,767 | 0.29% | Shares |
| SCHWARTZ INVESTMENT COUNSEL INC | $65,004,719 | 192,100 | 0.28% | Shares |
| California Public Employees Retirement System | $64,543,155 | 190,736 | 0.28% | Shares |
| National Pension Service | $63,245,091 | 186,900 | 0.27% | Shares |
| MILLENNIUM MANAGEMENT LLC | $62,614,670 | 185,037 | 0.27% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $62,426,212 | 176,415 | 0.27% | Shares |
| Douglas Lane & Associates, LLC | $61,711,849 | 182,369 | 0.26% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $61,226,826 | 180,936 | 0.26% | Shares |
| Clear Harbor Asset Management, LLC | $60,157,998 | 177,777 | 0.26% | Shares |
| BAMCO INC /NY/ | $58,856,511 | 173,931 | 0.25% | Shares |
| TD Asset Management Inc | $57,999,369 | 171,398 | 0.25% | Shares |
| AMERICAN CENTURY COMPANIES INC | $57,279,940 | 169,270 | 0.24% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $56,554,444 | 167,128 | 0.24% | Shares |
| NEUBERGER BERMAN GROUP LLC | $56,096,658 | 165,775 | 0.24% | Shares |
| BANK OF AMERICA CORP /DE/ | $55,834,688 | 165,001 | 0.24% | Shares |
| Tandem Investment Advisors, Inc. | $54,143,415 | 160,003 | 0.23% | Shares |
| PineBridge Investments, L.P. | $53,301,483 | 106,883 | 0.23% | Shares |
| BECK MACK & OLIVER LLC | $53,279,990 | 157,451 | 0.23% | Shares |
| RAYMOND JAMES FINANCIAL INC | $52,162,126 | 154,148 | 0.22% | Shares |
| Dixon Mitchell Investment Counsel Inc. | $51,038,687 | 150,754 | 0.22% | Shares |
| Capco Asset Management, LLC | $49,952,793 | 147,619 | 0.21% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $48,605,324 | 143,637 | 0.21% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $48,218,883 | 142,495 | 0.21% | Shares |
| COMPASS CAPITAL MANAGEMENT, INC | $48,078,248 | 142,079 | 0.20% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $47,899,105 | 141,550 | 0.20% | Shares |
| Welch & Forbes LLC | $47,542,301 | 140,495 | 0.20% | Shares |
| ROYAL LONDON ASSET MANAGEMENT LTD | $46,604,424 | 137,724 | 0.20% | Shares |
| Wishbone Management, LP | $45,682,650 | 135,000 | 0.19% | Shares |
| FMR LLC | $43,967,699 | 129,932 | 0.19% | Shares |
| MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH | $43,298,885 | 76,377 | 0.18% | Shares |
| Camrose Capital Investment Partners LLP | $42,894,993 | 126,762 | 0.18% | Shares |
| Guinness Asset Management LTD | $42,180,314 | 124,650 | 0.18% | Shares |
| PRUDENTIAL FINANCIAL INC | $42,002,659 | 124,125 | 0.18% | Shares |
| ZWJ INVESTMENT COUNSEL INC | $41,414,650 | 122,387 | 0.18% | Shares |
| Nuveen Asset Management, LLC | $40,368,952 | 77,655 | 0.17% | Shares |
| BLAIR WILLIAM & CO/IL | $40,119,858 | 118,561 | 0.17% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $40,002,768 | 117,829 | 0.17% | Shares |
| APG Asset Management N.V. | $38,233,660 | 129,178 | 0.16% | Shares |
| Clarkston Capital Partners, LLC | $38,088,840 | 112,559 | 0.16% | Shares |
| NICHOLAS COMPANY, INC. | $37,065,549 | 109,535 | 0.16% | Shares |
| BANK OF MONTREAL /CAN/ | $36,606,353 | 108,178 | 0.16% | Shares |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND | $35,435,524 | 104,718 | 0.15% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $35,316,748 | 104,367 | 0.15% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $34,190,587 | 101,039 | 0.15% | Shares |
| KLP KAPITALFORVALTNING AS | $33,754,402 | 99,750 | 0.14% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $32,211,006 | 95,189 | 0.14% | Shares |
| Cubist Systematic Strategies, LLC | $32,161,665 | 64,493 | 0.14% | Shares |
| Quantinno Capital Management LP | $31,894,210 | 94,252 | 0.14% | Shares |
| Boston Partners | $31,823,550 | 94,044 | 0.14% | Shares |
| Swedbank AB | $30,451,715 | 89,990 | 0.13% | Shares |
| FRANKLIN RESOURCES INC | $30,444,948 | 89,970 | 0.13% | Shares |
| AVIVA PLC | $30,332,941 | 89,639 | 0.13% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $30,116,033 | 88,998 | 0.13% | Shares |
| Robeco Schweiz AG | $29,262,275 | 86,475 | 0.12% | Shares |
| NEOS Investment Management LLC | $27,895,180 | 82,435 | 0.12% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $27,714,479 | 81,901 | 0.12% | Shares |
| JOHNSON INVESTMENT COUNSEL INC | $27,574,986 | 81,489 | 0.12% | Shares |
| Chevy Chase Trust Holdings, LLC | $27,342,252 | 80,801 | 0.12% | Shares |
| Rafferty Asset Management, LLC | $25,707,827 | 75,971 | 0.11% | Shares |
| Baird Financial Group, Inc. | $24,909,903 | 73,613 | 0.11% | Shares |
Company insiders 35 insiders · 15 officers · 20 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Laurence Neil Hunn | President and CEO | March 10, 2026 A | 84,457 | 2 | 7 | $-8,784,870 |
| Jason Conley | EVP, Chief Financial Officer | March 10, 2026 A | 28,457 | 0 | 1 | $-2,673,360 |
| Robert Crisci | Executive VP and CFO | Nov. 21, 2022 S | 30,887 | 0 | 0 | $0 |
| John Humphrey | EVP, Chief Financial Officer | Feb. 10, 2017 M | 90,063 | 0 | 0 | $0 |
| Michael W Towe | VP, Chief Financial Officer | March 14, 2006 M | 45,000 | 0 | 0 | $0 |
| Martin S Headley | VP,Chief Financial Officer | Aug. 13, 2004 M | 12,450 | 0 | 0 | $0 |
| John K Stipancich | EVP, Chief Legal Officer & Sec | July 27, 2026 M | 35,634 | 0 | 1 | $-758,100 |
| Brandon L Cross | VP and Corporate Controller | March 10, 2026 A | 2,271 | 0 | 0 | $0 |
| Paul J Soni | Executive Vice President | Nov. 8, 2018 F | 59,234 | 0 | 0 | $0 |
| Brian D Jellison | Executive Chairman | Nov. 2, 2018 F | 1,402,365 | 0 | 0 | $0 |
| David B Liner | VP, General Counsel & Secretar | Jan. 21, 2016 A | 62,366 | 0 | 0 | $0 |
| Will N Crocker | VP, Instrumentation | April 29, 2011 S | 24,294 | 0 | 0 | $0 |
| Timothy J Winfrey | VP,Energy Systems & Controls | Jan. 20, 2011 A | 64,453 | 0 | 0 | $0 |
| Benjamin W Wood | VP Scientific and Industrial I | Jan. 11, 2011 A | 19,957 | 0 | 0 | $0 |
| Thomas C Ogrady | VP,Mergers & Acquisitions | May 6, 2005 M | 3,440 | 0 | 0 | $0 |
| Richard F Wallman | Director | July 24, 2026 S | 7,423 | 0 | 1 | $-2,322,674 |
| Laura G Thatcher | Director | May 20, 2026 A | 22,115 | 0 | 0 | $0 |
| John Francis Murphy | Director | May 20, 2026 A | 2,687 | 0 | 0 | $0 |
| Thomas Patrick Joyce JR | Director | May 20, 2026 A | 5,051 | 1 | 0 | $501,844 |
| Robert D Johnson | Director | May 20, 2026 A | 5,885 | 0 | 0 | $0 |
| Shellye L Archambeau | Director | May 20, 2026 A | 9,477 | 0 | 0 | $0 |
| Irene M Esteves | Director | May 20, 2026 A | 5,051 | 0 | 0 | $0 |
| Amy Woods Brinkley | Director | May 20, 2026 A | 19,375 | 1 | 0 | $540,852 |
| Christopher Wright | Director | May 5, 2025 S | 34,284 | 0 | 0 | $0 |
| John F Fort III | Director | June 15, 2021 A | 15,479 | 0 | 0 | $0 |
| Wilbur J Prezzano | Director | June 9, 2020 A | 17,837 | 0 | 0 | $0 |
| Robert E Knowling JR | Director | June 9, 2020 A | 13,875 | 0 | 0 | $0 |
| David W Devonshire | Director | June 9, 2015 S | 12,500 | 0 | 0 | $0 |
| Lawrence W Banks | Director | Sept. 12, 2008 S | 8,000 | 0 | 0 | $0 |
| Donald G Calder | Director | Feb. 28, 2008 S | 88,223 | 0 | 0 | $0 |
| Derrick N Key | Director | Dec. 11, 2006 A | 30,056 | 0 | 0 | $0 |
| Eriberto R Scocimara | Director | May 4, 2006 S | 30,080 | 0 | 0 | $0 |
| Riaucour George Graf Schall | Director | March 1, 2006 M | 52,000 | 0 | 0 | $0 |
| James A Mannebach | — | Nov. 9, 2004 M | 5,846 | 0 | 0 | $0 |
| Shanler G Cronk | — | May 13, 2004 G | 48,235 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 241 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| EWL · iShares, Inc. | 13.84% | 684,878 SH | Aug. 8, 2026 | Daily |
| PIO · Invesco Exchange-Traded Fund Trust … | 9.32% | 65,597 SH | Aug. 8, 2026 | Daily |
| PHO · Invesco Exchange-Traded Fund Trust | 8.94% | 465,898 SH | Aug. 8, 2026 | Daily |
| IDHQ · Invesco Exchange-Traded Fund Trust … | 5.01% | 108,532 SH | Aug. 8, 2026 | Daily |
| IXJ · iShares Trust | 3.99% | 368,976 SH | Aug. 8, 2026 | Daily |
| IDNA · iShares Trust | 3.83% | 16,796 SH | Aug. 8, 2026 | Daily |
| VIGI · VANGUARD WHITEHALL FUNDS | 3.36% | 744,435 SH | Aug. 8, 2026 | Daily |
| IGRO · iShares Trust | 2.93% | 85,341 SH | Aug. 8, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 2.89% | 67,593 SH | Aug. 8, 2026 | Daily |
| HUSV · First Trust Exchange-Traded Fund III | 2.50% | 5,109 NS | April 30, 2026 | N-PORT |
| POWA · Invesco Exchange-Traded Self-Indexe… | 2.32% | 10,576 SH | Aug. 8, 2026 | Daily |
| IQLT · iShares Trust | 2.22% | 694,888 SH | Aug. 8, 2026 | Daily |
| IEV · iShares Trust | 2.18% | 82,072 SH | Aug. 8, 2026 | Daily |
| TDV · ProShares Trust | 2.16% | 19,233 NS | May 31, 2026 | N-PORT |
| IMTM · iShares Trust | 1.98% | 186,072 SH | Aug. 8, 2026 | Daily |
| IEUR · iShares Trust | 1.95% | 393,937 SH | Aug. 8, 2026 | Daily |
| DRES · GMO ETF Trust | 1.82% | 2,027 NS | May 31, 2026 | N-PORT |
| VGK · VANGUARD INTERNATIONAL EQUITY INDEX… | 1.81% | 1,690,794 SH | Aug. 8, 2026 | Daily |
| EFV · iShares Trust | 1.81% | 1,208,644 SH | Aug. 8, 2026 | Daily |
| XT · iShares Trust | 1.79% | 155,208 SH | Aug. 8, 2026 | Daily |
| RUNN · Strategic Trust | 1.61% | 17,137 NS | May 31, 2026 | N-PORT |
| VYMI · VANGUARD WHITEHALL FUNDS | 1.57% | 786,078 SH | Aug. 8, 2026 | Daily |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.55% | 226,576 SH | Aug. 8, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 1.55% | 19,146 SH | Aug. 8, 2026 | Daily |
| IVLU · iShares Trust | 1.46% | 146,669 SH | Aug. 8, 2026 | Daily |
| KNG · First Trust Exchange-Traded Fund IV | 1.42% | 135,092 NS | April 30, 2026 | N-PORT |
| EFA · iShares Trust | 1.41% | 2,481,727 SH | Aug. 8, 2026 | Daily |
| IGV · iShares Trust | 1.40% | 492,455 SH | Aug. 8, 2026 | Daily |
| PABD · iShares Trust | 1.40% | 10,481 SH | Aug. 8, 2026 | Daily |
| NOBL · ProShares Trust | 1.31% | 446,957 NS | May 31, 2026 | N-PORT |
| ESGD · iShares Trust | 1.24% | 334,185 SH | Aug. 8, 2026 | Daily |
| IEFA · iShares Trust | 1.21% | 5,201,834 SH | Aug. 8, 2026 | Daily |
| SRHQ · Elevation Series Trust | 1.20% | 6,531 NS | April 30, 2026 | N-PORT |
| FDLO · FIDELITY COVINGTON TRUST | 1.14% | 45,036 NS | April 30, 2026 | N-PORT |
| PXF · Invesco Exchange-Traded Fund Trust … | 1.11% | 71,563 SH | Aug. 8, 2026 | Daily |
| AQLT · iShares Trust | 1.10% | 7,498 SH | Aug. 8, 2026 | Daily |
| INTF · iShares Trust | 1.08% | 88,997 SH | Aug. 8, 2026 | Daily |
| IDEV · iShares Trust | 1.06% | 758,677 SH | Aug. 8, 2026 | Daily |
| EFG · iShares Trust | 1.00% | 378,200 SH | Aug. 8, 2026 | Daily |
| USMV · iShares Trust | 0.99% | 606,511 SH | Aug. 8, 2026 | Daily |
| ESMV · iShares Trust | 0.99% | 196 SH | Aug. 8, 2026 | Daily |
| ALTL · Pacer Funds Trust | 0.95% | 2,565 NS | April 30, 2026 | N-PORT |
| QQQE · Direxion Shares ETF Trust | 0.90% | 30,958 NS | April 30, 2026 | N-PORT |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.88% | 6,878,728 SH | Aug. 8, 2026 | Daily |
| QQQG · Pacer Funds Trust | 0.86% | 275 NS | April 30, 2026 | N-PORT |
| VSGX · VANGUARD WORLD FUND | 0.86% | 141,371 SH | Aug. 8, 2026 | Daily |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.86% | 35,945 NS | April 30, 2026 | N-PORT |
| ACWX · iShares Trust | 0.84% | 219,746 SH | Aug. 8, 2026 | Daily |
| ACWV · iShares, Inc. | 0.79% | 66,930 SH | Aug. 8, 2026 | Daily |
| COWZ · Pacer Funds Trust | 0.78% | 400,759 NS | April 30, 2026 | N-PORT |