TROW's earnings are almost entirely fee-driven, with non-interest income near 100% of revenue and total revenue around $1.9B in 2026Q3, so fee quality and asset mix, rather than interest spread, will determine the outlook.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue held near $1.7B to $1.9B across the ten reported quarters while the efficiency ratio swung between roughly 19% and 70%, suggesting that cost discipline rather than top-line growth has driven most of the operating income variation.
T. Rowe Price is focusing on expanding its offerings in ETFs, alternative investments, and personalized retirement products. Partnerships and product development are expected to drive growth in assets under management (AUM) and fee revenue.
The company's strategy includes a view that margins can increase, and share buybacks are anticipated to reduce the number of outstanding shares. These factors combined are expected to support higher earnings.
T. Rowe Price has a demonstrated ability to manage costs effectively, even in challenging revenue environments. The company's commitment to low single-digit growth in non-market expenses in the coming years suggests a disciplined approach that could maintain or improve profit margins.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 29, 2026 | $2.86+8.7% vs $2.63 | $2.0B+1.4% vs $2.0B |
Q3 2026 Jul 31, 2026 | $2.57+2.4% vs $2.51 | $1.9B+0.7% vs $1.9B |
Q2 2026 Apr 30, 2026 | $2.52+8.2% vs $2.33 | $1.9B+0.1% vs $1.9B |
Q1 2026 Feb 4, 2026 | $2.44-0.8% vs $2.46 | $1.9B+0.3% vs $1.9B |
Wall Street holds or sells every one of these four blue chips, yet each has raised its dividend every single year and yields at least 4.35%. Find out why the analyst skepticism may be beside the point for income investors.
T. Rowe Price Group NASDAQ: TROW reported third-quarter 2026 adjusted diluted earnings per share of $2.86, up from $2.57 in the prior quarter and $2.81 a year earlier, as higher average assets under management supported results. The asset manager ended the quarter with $1.86 trillion in assets under management, though it recorded $28.3 billion in net outflows.
T. Rowe Price shares gain 1.3% in early trading as Q3'26 earnings beat estimates, aided by higher advisory fees and AUM, despite substantial client outflows.
T. Rowe Price Group, Inc. (TROW) Q3 2026 Earnings Call Transcript
Benchmark TROW against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for T. Rowe Price Group, Inc. (TROW)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $108.41 | $23.23B | 11.72 | 3.12% | 28.53% | 17.76% | 4.71% | |
| $33.73 | $17.53B | 37.07 | 3.52% | 9.56% | 6.35% | 3.93% | |
| $27.08 | $12B | -16.93 | 4.75% | -1.12% | -0.59% | 3.07% | |
| $362.63 | $9.58B | 15.95 | 21.05% | 33.86% | 19.67% | 0.01% | |
| $127.35 | $850.97M | 6.38 | -7.13% | 15.72% | 11.02% | 7.32% | |
| $1178.87 | $182.72B | 33.28 | 18.32% | 23% | 10.06% | 1.72% |
T. Rowe Price Group, Inc. (TROW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
T. Rowe Price Group, Inc. (TROW) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 29, 2026·SEC
Jul 31, 2026·SEC
May 18, 2026·SEC
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T. Rowe Price Group, Inc. (TROW) stock FAQ — growth, dividends, profitability & financials explained
T. Rowe Price Group, Inc. (TROW) grew revenue by 3.1% in fiscal year 2025, compared with the prior fiscal year.
Yes. T. Rowe Price Group, Inc. (TROW) earned $2.19B in net income over the trailing twelve months (a 28.4% net margin).
Yes. T. Rowe Price Group, Inc. (TROW) pays a dividend that yields 4.71% at the current price, a high yield.
T. Rowe Price Group, Inc. (TROW) had a return on equity (ROE) of 17.8% in fiscal year 2025. That is above the market's typical 10-15%.
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.
