Roper Technologies Inc. (ROP-N)

Roper Technologies Inc. (ROP-N) is undergoing a significant transition from hardware to a software-centric business model, which has resulted in a higher Weighted Average Cost of Capital (WACC) compared to its Return on Invested Capital (ROIC). This trend is largely attributed to the company's relatively small market capitalization of around $60 billion, making it more susceptible to the impact of high interest rates, particularly when compared to larger firms. Nonetheless, as Roper continues to grow and execute its strategy, it is expected that its ROIC will eventually surpass its WACC. The company's recent stock performance has reached an all-time high, which bodes well for shareholders and is reminiscent of the Canadian success story, Constellation Software. Additionally, Roper has demonstrated strong acquisition capabilities, typically employing cash in its friendly M&A activities, which has contributed to its impressive dividend growth of approximately 14% annually over the past decade and reinforces its positive long-term growth prospects.