T. Rowe Price Group Inc (TROW)

T. 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 North America, Europe, Asia, Australia.

Symbol: TROW
Exchange: Nasdaq
Sector: Financial Services
Industry: Asset Management
Market cap: $22.39B
52 week range: 85.22 - 122

Valuation

Share price: $104.62 (close of 2026-10-02)
P/E (TTM): 10.48x
Price to book: 2.01x
Price to free cash flow: 13.38x
Enterprise value: $19.58B
Book value per share: $52.17

Price performance

Period	Change
1 day	-1.14%
5 days	-0.84%
1 month	-4.35%
3 months	-11.75%
6 months	+16.03%
Year to date	+2.19%
1 year	+2.86%
3 years	+0.03%
5 years	-47.31%
10 years	+57.32%
All time	+12977.50%

Members of Congress who disclosed TROW trades

Julie Johnson · Kevin Hern

Super investors holding TROW

Ken Griffin (Citadel) · Hillman Capital (Hillman Capital Management, Inc)

Profitability and growth

Return on equity: 18.94%
Return on invested capital: 18.82%
Return on assets: 14.55%
Gross margin: 31.39%
Net margin: 28.53%
EBITDA margin: 29.92%
Revenue growth: 3.12%
Net income growth: -0.62%
Free cash flow growth: 17.19%

Cash flow and balance sheet

Free cash flow yield (TTM): 7.48%
Net debt to EBITDA: -0.87x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $7.31B
Cost of revenue: $5.02B
Gross profit: $2.30B
EBITDA: $2.19B
Net income: $2.09B
Earnings per share: $9.26
Shares outstanding: 220.00M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$7.31B	$2.30B	$2.09B	$9.26
2024-12-31	$7.09B	$2.46B	$2.10B	$9.18
2023-12-31	$6.46B	$2.10B	$1.79B	$7.78
2022-12-31	$6.49B	$2.47B	$1.56B	$6.73
2021-12-31	$7.67B	$3.81B	$3.08B	$13.25
2020-12-31	$6.21B	$2.83B	$2.37B	$10.08
2019-12-31	$5.62B	$2.48B	$2.13B	$8.82
2018-12-31	$5.37B	$2.46B	$1.84B	$7.41
2017-12-31	$4.85B	$2.20B	$1.50B	$6.07
2016-12-31	$4.28B	$1.81B	$1.22B	$4.85

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	31.39%	28.53%	18.94%	18.82%
2024-12-31	34.72%	29.61%	19.99%	20.28%
2023-12-31	32.51%	27.69%	18.45%	16.77%
2022-12-31	38.08%	24.01%	17.25%	24.66%
2021-12-31	49.66%	40.18%	33.25%	35.18%
2020-12-31	45.59%	38.23%	30.79%	35.50%
2019-12-31	44.21%	37.94%	30.01%	31.26%
2018-12-31	45.81%	34.20%	30.00%	37.15%
2017-12-31	45.34%	30.85%	25.72%	30.21%
2016-12-31	42.33%	28.36%	24.26%	27.00%

Cash and debt by year

Period end	Cash
2025-12-31	$3.38B
2024-12-31	$2.65B
2023-12-31	$2.07B
2022-12-31	$1.76B
2021-12-31	$1.52B
2020-12-31	$2.15B
2019-12-31	$1.78B
2018-12-31	$1.43B
2017-12-31	$1.90B
2016-12-31	$1.20B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.48B	$216.90M
2024-12-31	$1.26B	$247.30M
2023-12-31	$911.20M	$265.60M
2022-12-31	$2.12B	$285.40M
2021-12-31	$3.21B	$274.60M
2020-12-31	$1.70B	$246.20M
2019-12-31	$1.32B	$206.60M
2018-12-31	$1.45B	$197.10M
2017-12-31	$43.40M	$152.00M
2016-12-31	$22.20M	$161.60M

Dividend history

Most recent payment: 2026-09-15
Paid in the last twelve months: $5.17

Payment date	Dividend per share
2026-09-15	$1.30
2026-06-15	$1.30
2026-03-16	$1.30
2025-12-15	$1.27
2025-09-15	$1.27
2025-06-13	$1.27
2025-03-14	$1.27
2024-12-13	$1.24

Investor relations

Next earnings report

Next confirmed report: 2026-10-30
Consensus EPS estimate: $2.61

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-31	Jun/2026	$2.52
2026-04-30	Mar/2026	$2.37
2026-02-04	Dec/2025	$2.47
2025-10-31	Sep/2025	$2.55
2025-08-01	Jun/2025	$2.15
2025-05-02	Mar/2025	$2.09
2025-02-05	Dec/2024	$2.23
2024-11-01	Sep/2024	$2.36

Filings and sources

Company website: troweprice.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

Similar companies

Franklin Templeton Inc (BEN) · Principal Financial Group Inc (PFG) · Invesco Ltd. (IVZ) · Ares Management Corp (ARES) · Raymond James Financial Inc (RJF) · Northern Trust Corp (NTRS) · JPMorgan Chase & Co (JPM) · Bank of America Corp (BAC)

All Financial Services companies

Understanding these figures

Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades