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TROW logoT. Rowe Price Group, Inc.(TROW)Earnings, Financials & Key Ratios

TROW•NASDAQ•Banking & Credit
$104.11
$22.65B mkt cap·11.3× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryTraditional active asset managers
AboutT. Rowe Price Group, Inc. is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe. It employs fundamental and quantitative analysis with a bottom-up approach. The firm utilizes in-house and external research to make its investments. It employs socially responsible investing with a focus on environmental, social, and governance issues. It makes investment in late-stage venture capital transactions and usually invests between $3 million and $5 million. The firm was previously known as T. Rowe Group, Inc. and T. Rowe Price Associates, Inc. T. Rowe Price Group, Inc. was founded in 1937 and is based in Baltimore, Maryland, with additional offices in Colorado Springs, Colorado; Owings Mills, Maryland; San Francisco, California; New York, New York; Philadelphia, Pennsylvania; Tampa, Florida; Toronto, Ontario; Hellerup, Denmark; Amsterdam, The Netherlands; Luxembourg, Grand Duchy of Luxembourg; Zurich, Switzerland; Dubai, United Arab Emirates; London, United Kingdom; Sydney, New South Wales; Hong Kong; Tokyo, Japan; Singapore; Frankfurt, Germany, Madrid, Spain, Milan, Italy, Stockholm, Sweden, Melbourne, Australia, and Amsterdam, Netherlands.Show more
  • Net Interest Income$497M+737.4%
  • Total Revenue$7.31B+3.1%
  • Net Income$2.09B-0.6%
  • Return on Equity17.76%-8.1%
  • Net Interest Margin3.41%+672.3%
  • Efficiency Ratio32.75%+72.0%
  • ROA14.87%-8.9%
  • Equity / Assets82.52%-2.9%
  • Book Value per Share53.86+5.0%
  • Tangible BV/Share40.83+8.0%
  • Debt/Equity0.07+193.2%
Analysis→Technical→

TROW Key Insights

T. Rowe Price Group, Inc. (TROW) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Efficient operations: 32.7% efficiency ratio
  • ✓Well capitalized: 82.5% equity/assets
  • ✓Good 3Y average ROE of 18.3%
  • ✓Healthy dividend yield of 4.9%
  • ✓Diversified revenue: 93.2% from non-interest income

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

TROW Price & Volume

T. Rowe Price Group, Inc. (TROW) stock price & volume — 10-year historical chart

Loading chart...

TROW Growth Metrics

T. Rowe Price Group, Inc. (TROW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.7%
5 Years3.34%
3 Years4.08%
TTM-

Profit CAGR

10 Years5.49%
5 Years-2.53%
3 Years10.24%
TTM3.87%

EPS CAGR

10 Years7.17%
5 Years-1.51%
3 Years11.35%
TTM5.78%

Return on Capital

10 Years25.85%
5 Years21.11%
3 Years17.32%
Last Year15.87%

TROW Recent Earnings

T. Rowe Price Group, Inc. (TROW) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 30, 2026
EPS
$2.52
Est $2.37
+6.3%
Revenue
$1.9B
Est $1.9B
+0.1%
Q1 2026
Feb 4, 2026
EPS
$2.44
Est $2.46
-0.8%
Revenue
$1.9B
Est $1.9B
+0.3%
Q4 2025
Oct 31, 2025
EPS
$2.81
Est $2.54
+10.6%
Revenue
$1.9B
Est $1.9B
+0.6%
Q3 2025
Aug 1, 2025
EPS
$2.24
Est $2.15
+4.2%
Revenue
$1.7B
Est $1.7B
-0.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$2.52vs $2.37+6.3%
$1.9Bvs $1.9B+0.1%
Q1 2026Feb 4, 2026
$2.44vs $2.46-0.8%
$1.9Bvs $1.9B+0.3%
Q4 2025Oct 31, 2025
$2.81vs $2.54+10.6%
$1.9Bvs $1.9B+0.6%
Q3 2025Aug 1, 2025
$2.24vs $2.15+4.2%
$1.7Bvs $1.7B-0.3%
Based on last 12 quarters of dataView full earnings history →

TROW Peer Comparison

T. Rowe Price Group, Inc. (TROW) competitors in Traditional active asset managers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
BEN logoBENFranklin Resources, Inc.Direct Competitor15.83B30.4633.473.45%5.98%5.64%5.76%0.94
IVZ logoIVZInvesco Ltd.Direct Competitor11.92B26.83-16.775.11%-4.42%-1.74%12.09%0.78
AMG logoAMGAffiliated Managers Group, Inc.Direct Competitor8.1B303.6413.3519.83%29.3%16.01%12.4%0.61
VRTS logoVRTSVirtus Investment Partners, Inc.Direct Competitor958.73M143.197.17-8%16.66%13.51%2.74
BLK logoBLKBlackRock, Inc.Product Competitor162.7B1048.8424.9714.27%31.21%9.86%2.89%0.29
STT logoSTTState Street CorporationProduct Competitor41.96B148.6818.1119.64%12.23%10.78%1.45
APAM logoAPAMArtisan Partners Asset Management Inc.Product Competitor2.65B37.589.287.63%24.26%44.91%6.46%0.52
VCTR logoVCTRVictory Capital Holdings, Inc.Product Competitor5.17B81.2618.558.82%32.33%8.96%6.55%0.86

Compare TROW vs Peers

T. Rowe Price Group, Inc. (TROW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BEN

Most directly comparable listed peer for TROW.

Scale Benchmark

vs MS

Larger-name benchmark to compare TROW against a more recognizable public peer.

Peer Set

Compare Top 5

vs BEN, IVZ, AMG, VRTS

TROW Income Statement

T. Rowe Price Group, Inc. (TROW) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income0000133.9M15.4M45.9M59.4M497.4M626.6M
NII Growth %------88.5%198.05%29.41%737.37%4342.41%
Net Interest Margin %0%0%0%0%1.07%0.13%0.37%0.44%3.41%4.35%
Interest Income0000133.9M15.4M45.9M59.4M497.4M626.6M
Interest Expense0000000000
Loan Loss Provision2.07B2.25B2.38B2.62B2.99B2.92B3.25B3.41B2.73B2.29B
Non-Interest Income4.85B5.37B5.62B6.21B7.54B6.47B6.41B7.03B6.82B6.78B
Non-Interest Income %100%100%100%100%98.25%99.76%99.29%99.16%93.2%91.54%
Total Revenue
4.85B▲ 0%
5.37B▲ 10.7%
5.62B▲ 4.6%
6.21B▲ 10.5%
7.67B▲ 23.6%
6.49B▼ 15.4%
6.46B▼ 0.4%
7.09B▲ 9.8%
7.31B▲ 3.1%
7.41B▲ 0%
Revenue Growth %13.31%10.66%4.57%10.48%23.61%-15.43%-0.43%9.8%3.12%16.75%
Non-Interest Expense672.6M764.3M846M844.6M968.7M1.19B1.22B1.35B2.4B2.88B
Efficiency Ratio13.85%14.23%15.06%13.61%12.63%18.38%18.88%19.04%32.75%38.87%
Operating Income
2.11B▲ 0%
2.36B▲ 12.0%
2.39B▲ 1.1%
2.75B▲ 15.0%
3.71B▲ 35.1%
2.37B▼ 36.0%
1.99B▼ 16.3%
2.33B▲ 17.5%
2.19B▼ 6.2%
2.24B▲ 0%
Operating Margin %43.44%43.95%42.49%44.24%48.36%36.58%30.74%32.89%29.92%30.18%
Operating Income Growth %21.66%11.98%1.08%15.03%35.12%-36.02%-16.32%17.48%-6.19%-
Pretax Income
2.51B▲ 0%
2.38B▼ 4.8%
2.93B▲ 22.8%
3.24B▲ 10.8%
3.99B▲ 23.2%
1.95B▼ 51.2%
2.49B▲ 27.8%
2.82B▲ 13.2%
2.88B▲ 2.0%
2.84B▲ 0%
Pretax Margin %51.6%44.38%52.11%52.24%52.07%30.03%38.55%39.75%39.31%38.35%
Income Tax923.9M615.9M678.4M718.9M896.1M498.6M654.6M683.8M667.2M653.4M
Effective Tax Rate %36.88%25.83%23.17%22.17%22.43%25.59%26.29%24.25%23.2%23%
Net Income
1.5B▲ 0%
1.84B▲ 22.7%
2.13B▲ 16.0%
2.37B▲ 11.3%
3.08B▲ 29.9%
1.56B▼ 49.5%
1.79B▲ 14.8%
2.1B▲ 17.4%
2.09B▼ 0.6%
2.09B▲ 0%
Net Margin %30.85%34.2%37.94%38.23%40.18%24.01%27.69%29.61%28.53%28.28%
Net Income Growth %23.28%22.68%15.99%11.33%29.93%-49.47%14.81%17.41%-0.62%3.87%
Net Income (Continuing)1.58B1.77B2.25B2.52B3.1B1.45B1.84B2.14B2.21B2.19B
EPS (Diluted)
5.97▲ 0%
7.27▲ 21.8%
8.70▲ 19.7%
9.98▲ 14.7%
13.12▲ 31.5%
6.70▼ 48.9%
7.76▲ 15.8%
9.15▲ 17.9%
9.25▲ 1.1%
9.38▲ 0%
EPS Growth %25.68%21.78%19.67%14.71%31.46%-48.93%15.82%17.91%1.09%5.78%
EPS (Basic)6.077.418.8210.0813.256.737.789.189.26-
Diluted Shares Outstanding245.1M246.9M238.6M231.2M228.8M227.1M224.8M223.3M223.77M223.41M

TROW Balance Sheet

T. Rowe Price Group, Inc. (TROW) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments1.9B1.43B1.78B2.15B1.52B1.76B2.07B2.65B3.38B13.8B
Cash & Due from Banks1.9B1.43B1.78B2.15B1.52B1.76B2.07B2.65B3.38B3.73B
Short Term Investments0000000000
Total Investments3.53B4.13B5.22B5.95B4.94B3.38B3.71B4.05B5.28B5.12B
Investments Growth %23.16%17.25%26.2%13.99%-16.95%-31.52%9.62%9.29%30.22%74.86%
Long-Term Investments3.53B4.13B5.22B5.95B4.94B3.38B3.71B4.05B5.28B18.83B
Accounts Receivables565.3M549.6M646.6M863.1M1.06B748.7M807.9M877.4M714.4M0
Goodwill & Intangibles665.7M665.7M665.7M665.7M3.61B3.27B3.15B3.01B2.92B2.9B
Goodwill665.7M665.7M665.7M665.7M2.69B2.64B2.64B2.64B00
Intangible Assets0000913.4M629.8M507.3M368.1M2.92B2.9B
PP&E (Net)652M661.3M785.2M813M937.4M1.04B1.05B1.2B1.23B1.2B
Other Assets180.8M253.7M202.6M194.2M433.4M1.38B1.5B1.68B639.7M1.44B
Total Current Assets2.47B1.97B2.43B3.01B2.58B2.5B2.87B3.53B4.09B3.73B
Total Non-Current Assets5.02B5.71B6.87B7.62B9.92B9.07B9.4B9.94B10.51B10.66B
Total Assets
7.54B▲ 0%
7.69B▲ 2.0%
9.33B▲ 21.3%
10.66B▲ 14.2%
12.51B▲ 17.4%
11.64B▼ 6.9%
12.28B▲ 5.5%
13.47B▲ 9.7%
14.61B▲ 8.4%
14.39B▲ 0%
Asset Growth %21.05%2.04%21.34%14.24%17.36%-6.92%5.46%9.72%8.42%28.32%
Return on Assets (ROA)21.77%24.14%25.05%23.74%26.61%12.9%14.95%16.31%14.87%14.43%
Accounts Payable216.2M228.5M214.5M100.2M431M406.7M422.9M353.5M00
Total Debt303.9M0146.3M154.1M249.2M329.6M308.5M278.7M860.2M459.6M
Net Debt-1.9B-1.43B-1.64B-2B-1.27B-1.43B-1.76B-2.37B-2.52B-3.73B
Long-Term Debt00000000413M21.5M
Short-Term Debt0000000056M438.1M
Other Liabilities433.7M542M714.7M963.5M1.5B1.17B1.19B1.3B1.43B2.06B
Total Current Liabilities284.5M282.7M246.3M272.7M508.9M452.7M489.1M440.6M56M570.5M
Total Non-Current Liabilities433.7M542M861M1.12B1.75B1.5B1.5B1.58B2.5B2.52B
Total Liabilities718.2M824.7M1.11B1.39B2.26B1.96B1.99B2.02B2.55B2.52B
Total Equity
6.82B▲ 0%
6.86B▲ 0.7%
8.22B▲ 19.8%
9.27B▲ 12.7%
10.25B▲ 10.6%
9.69B▼ 5.5%
10.29B▲ 6.2%
11.45B▲ 11.3%
12.05B▲ 5.3%
11.88B▲ 0%
Equity Growth %19.69%0.7%19.79%12.72%10.63%-5.53%6.24%11.26%5.27%24.1%
Equity / Assets (Capital Ratio)90.47%89.27%88.13%86.96%81.97%83.2%83.81%84.99%82.52%82.51%
Return on Equity (ROE)23.94%26.86%28.25%27.13%31.58%15.63%17.91%19.32%17.76%17.56%
Book Value per Share27.8127.8034.4640.0944.8242.6545.7851.2853.8653.16
Tangible BV per Share25.1025.1131.6737.2129.0528.2431.7737.7940.8340.16
Common Stock49M47.6M47M45.6M45.8M44.9M44.8M44.6M43.8M43.1M
Additional Paid-in Capital846.1M654.6M654.6M654.6M919.8M437.9M431.7M311.9M00
Retained Earnings4.93B5.46B6.44B7.03B8.08B8.41B9.08B10.04B10.87B10.79B
Accumulated OCI-3.6M-42M-43M-23M-26.5M-53M-47.5M-51.7M-50.5M-51.6M
Treasury Stock0000000000
Preferred Stock0000000000

TROW Cash Flow Statement

T. Rowe Price Group, Inc. (TROW) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations229.5M1.62B1.52B1.92B3.45B2.36B1.22B1.69B1.75B1.75B
Operating CF Growth %34.6%605.84%-6%26.02%79.89%-31.65%-48.33%38.27%4.02%132.04%
Net Income1.58B1.77B2.25B2.52B3.1B1.45B1.84B2.14B2.21B2.09B
Depreciation & Amortization143.6M159.5M190.8M189.6M204.8M645.8M481.6M504.2M605.5M761M
Deferred Taxes0000000000
Other Non-Cash Items-1.87B-617M-1.23B-1.13B-193.3M118.5M-1.56B-1.21B-1.45B-1.14B
Working Capital Changes220.6M111.6M109.6M91.1M67.4M-139.9M193.6M5.5M169.8M384M
Cash from Investing39M-875.5M-324.5M-36.3M-1.1B-41.5M128.2M-177.5M230.3M289.4M
Purchase of Investments-104.1M-1.15B-258.1M-326.3M-64.9M-63.8M-142.1M-115.9M-176M-479.6M
Sale/Maturity of Investments336.6M352.4M131.4M454.1M1.63B263.6M616.6M533.4M769.1M1.01B
Net Investment Activity232.5M-795.4M-126.7M127.8M1.56B199.8M474.5M417.5M593.1M529.6M
Acquisitions0000-2.45B0000-34.7M
Other Investing-7.4M88.4M6.8M50.5M30.9M-3.7M-38.4M-171.6M-88.6M-13.3M
Cash from Financing461.5M-1.24B-832.7M-1.49B-2.99B-2.08B-1.08B-936.6M-1.28B-1.69B
Dividends Paid-563.1M-694.3M-733.9M-845.8M-1.7B-1.11B-1.12B-1.14B-1.14B-1.14B
Share Repurchases-458.1M-1.09B-705.8M-1.2B-1.14B-849.8M-272.4M-370.5M-620.9M-769.4M
Stock Issued201.1M74.8M83.3M3.9M0000-22.3M15.1M
Net Stock Activity-257M-1.02B-622.5M-1.2B-1.14B-849.8M-272.4M-370.5M-643.2M-754.3M
Debt Issuance (Net)0000000000
Other Financing1.28B470.4M523.7M557.5M-148.4M-119.7M315.5M569.5M508.8M205.3M
Net Change in Cash
735.3M▲ 0%
-510.5M▼ 169.4%
363M▲ 171.1%
398.2M▲ 9.7%
-632.3M▼ 258.8%
250.5M▲ 139.6%
269.1M▲ 7.4%
569.1M▲ 111.5%
704.4M▲ 23.8%
931.4M▲ 0%
Exchange Rate Effect5.3M-15.4M-2.5M1.9M2.6M9.5M400K-2.4M-1.9M16.9M
Cash at Beginning1.27B2.01B1.5B1.86B2.26B1.62B1.87B2.14B2.71B3.42B
Cash at End2.01B1.5B1.86B2.26B1.62B1.87B2.14B2.71B3.42B3.8B
Interest Paid0000000000
Income Taxes Paid0000000000
Free Cash Flow
43.4M▲ 0%
1.45B▲ 3244.2%
1.32B▼ 9.2%
1.7B▲ 29.3%
3.21B▲ 88.5%
2.12B▼ 34.0%
911.2M▼ 57.1%
1.26B▲ 38.5%
1.48B▲ 17.2%
2.34B▲ 0%
FCF Growth %95.5%3244.24%-9.18%29.3%88.52%-33.96%-57.06%38.52%17.19%67.53%

TROW Banking Ratios

T. Rowe Price Group, Inc. (TROW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)23.94%26.86%28.25%27.13%31.58%15.63%17.91%19.32%17.76%17.56%
Return on Assets (ROA)21.77%24.14%25.05%23.74%26.61%12.9%14.95%16.31%14.87%14.43%
Net Interest Margin0%0%0%0%1.07%0.13%0.37%0.44%3.41%4.35%
Efficiency Ratio13.85%14.23%15.06%13.61%12.63%18.38%18.88%19.04%32.75%38.87%
Equity / Assets90.47%89.27%88.13%86.96%81.97%83.2%83.81%84.99%82.52%82.51%
Book Value / Share27.8127.834.4640.0944.8242.6545.7851.2853.8653.16
NII Growth------88.5%198.05%29.41%737.37%976.63%
Dividend Payout37.6%37.79%34.43%35.65%55.2%71.08%62.71%54.07%54.77%40.74%

TROW SEC Filings & Documents

T. Rowe Price Group, Inc. (TROW) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 30, 2026·SEC

Material company update

Apr 22, 2026·SEC

Material company update

Feb 4, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 14, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 30, 2026·SEC

FY 2025

Oct 31, 2025·SEC

FY 2025

Aug 1, 2025·SEC

TROW Frequently Asked Questions

T. Rowe Price Group, Inc. (TROW) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

T. Rowe Price Group, Inc. (TROW) grew revenue by 3.1% over the past year. Growth has been modest.

Yes, T. Rowe Price Group, Inc. (TROW) is profitable, generating $2.09B in net income for fiscal year 2025 (28.5% net margin).

Dividend & Returns

Yes, T. Rowe Price Group, Inc. (TROW) pays a dividend with a yield of 4.91%. This makes it attractive for income-focused investors.

T. Rowe Price Group, Inc. (TROW) has a return on equity (ROE) of 17.8%. This is reasonable for most industries.

Industry Metrics

T. Rowe Price Group, Inc. (TROW) has a net interest margin (NIM) of 3.4%. This indicates healthy earnings from lending activities.

T. Rowe Price Group, Inc. (TROW) has an efficiency ratio of 32.7%. This is excellent, indicating strong cost control.

Explore More TROW

T. Rowe Price Group, Inc. (TROW) financial analysis — history, returns, DCA and operating performance tools

Full TROW Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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