ROKHIGH SIGNALOPERATIONAL10-K

ROK dramatically strengthened its financial performance with operating cash flow surging 78.7% to $1.5B while simultaneously de-emphasizing its volatile Oil & Gas exposure by removing related risk language.

The company appears to be successfully executing a strategic pivot away from cyclical energy markets toward more stable industrial automation segments, as evidenced by removing all Oil & Gas risk disclosures and competitor references like AVEVA and Aspen Technology. This operational transformation is generating substantial cash flow improvements, suggesting ROK has repositioned itself in higher-margin, less volatile markets.

Comparing 2025-11-12 vs 2024-11-12View on EDGAR →
FINANCIAL ANALYSIS

ROK delivered exceptional financial performance with operating cash flow jumping 78.7% to $1.5B and gross profit expanding 25.8% to $4.0B, demonstrating strong operational leverage. The company strategically reduced debt by 12.5% to $2.0B while moderating share buybacks to $425.0M, indicating disciplined capital allocation focused on growth investments as evidenced by the 42.3% increase in R&D spending to $679.0M. This financial profile suggests a company successfully transitioning to higher-quality revenue streams with improved cash generation and reinvestment in innovation.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+78.7%
$863.8M$1.5B

Operating cash flow surged 78.7% — exceptional cash generation, highest quality earnings signal.

R&D Expense
P&L
+42.3%
$477.3M$679.0M

R&D investment increased 42.3% — signals commitment to future product development, though near-term margin impact.

Share Buybacks
Cash Flow
-28.6%
$594.9M$425.0M

Buyback activity reduced 28.6% — capital being redeployed elsewhere or cash conservation underway.

Gross Profit
P&L
+25.8%
$3.2B$4.0B

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Total Debt
Balance Sheet
-12.5%
$2.3B$2.0B

Debt reduced 12.5% — deleveraging strengthens balance sheet and reduces financial risk.

LANGUAGE CHANGES
NEW — 2025-11-12
PRIOR — 2024-11-12
ADDED
See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act.
112,273,567 shares of registrant s Common Stock, par value $1 per share, were outstanding on October 31, 2025.
The largest sales outside the United States on a country of destination basis are in Canada, China, Italy, the United Kingdom, and Mexico.
Major competitors include Siemens AG, ABB Ltd, Schneider Electric SA, Emerson Electric Co., Mitsubishi Electric Corp., Honeywell International Inc., and Dassault Systemes.
See Item 7A for additional information about foreign currency risks.
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REMOVED
112,896,809 shares of registrant s Common Stock, par value $1 per share, were outstanding on October 31, 2024.
The largest sales outside the United States on a country of destination basis are in Canada, China, Mexico, Italy, and the United Kingdom.
Major competitors include Siemens AG, ABB Ltd, Schneider Electric SA, Emerson Electric Co., Mitsubishi Electric Corp., Honeywell International Inc., AVEVA Group plc, Dassault Systemes, and Aspen Technology, Inc.
Oil Gas is a major industry that we serve, including through our Sensia joint venture.
When adverse Oil Gas industry events arise, companies may reduce their levels of spending, which could result in decreased demand for our hardware and software products, solutions, and services.
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