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Financials · TROW

T. Rowe Price Group Inc. (TROW) financials

For the twelve months ended Sep 30, 2026, T. Rowe Price Group Inc. reported $7.70B of revenue and $2.19B of net income.

Revenue, TTM
$7.70B
Revenue growth, YoY
+6.9%
Net income, TTM
$2.19B
Net income growth, YoY
+5.1%
Net margin
28.4%
Free cash flow, TTM
$1.60B
EPS, diluted, TTM
$9.88
EPS growth, YoY
+7.7%
Cash
$3.77B
P/E
10.57
P/S
3.00
Market cap
$23.13B
Annual revenue$7.31B
FY2016FY2025
Annual net income$2.09B
FY2016FY2025
Annual free cash flow$1.48B
FY2016FY2025

TROW revenue and earnings growth

TROW revenueQ3 2026$2.00B

Quarter YoY
+5.9%
QoQ
+5.1%
FY YoY
+3.1%
5Y CAGR
+3.3%
10Y CAGR
+5.7%

TROW revenue was $2.00B in fiscal Q3 2026 (ended Sep 30, 2026), up 5.9% from a year earlier and up 5.1% from the prior quarter. For the full fiscal 2025 it was $7.31B, up 3.1% from fiscal 2024. Compound annual growth was +3.3% over 5 years and +5.7% over 10 years. It rose in 8 of the last 10 fiscal years.

TROW net incomeQ3 2026$612.30M

Quarter YoY
-5.2%
QoQ
-3.1%
FY YoY
-0.6%
5Y CAGR
-2.5%
10Y CAGR
+5.5%

TROW net income was $612.30M in fiscal Q3 2026 (ended Sep 30, 2026), down 5.2% from a year earlier and down 3.1% from the prior quarter. For the full fiscal 2025 it was $2.09B, down 0.6% from fiscal 2024. Compound annual growth was -2.5% over 5 years and +5.5% over 10 years. It rose in 7 of the last 10 fiscal years.

TROW EPSQ3 2026$2.79

Quarter YoY
-2.8%
QoQ
-3.1%
FY YoY
+1.0%
5Y CAGR
-1.5%
10Y CAGR
+7.2%

TROW diluted EPS was $2.79 in fiscal Q3 2026 (ended Sep 30, 2026), down 2.8% from a year earlier and down 3.1% from the prior quarter. For the full fiscal 2025 it was $9.24, up 1.0% from fiscal 2024. Compound annual growth was -1.5% over 5 years and +7.2% over 10 years.

TROW free cash flowQ3 2026$470.60M

Quarter YoY
-13.8%
QoQ
+4.4%
FY YoY
+17.2%
5Y CAGR
-2.8%
10Y CAGR
+0.7%

TROW free cash flow was $470.60M in fiscal Q3 2026 (ended Sep 30, 2026), down 13.8% from a year earlier and up 4.4% from the prior quarter. For the full fiscal 2025 it was $1.48B, up 17.2% from fiscal 2024. Compound annual growth was -2.8% over 5 years and +0.7% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$7.31B$7.09B$6.46B$6.49B$7.67B$6.21B$5.62B$5.37B$4.85B$4.28B
Operating income$2.19B$2.33B$1.99B$2.37B$3.71B$2.75B$2.39B$2.36B$2.11B$1.73B
Pre-tax income$2.88B$2.82B$2.49B$1.95B$3.99B$3.24B$2.93B$2.38B$2.51B$1.96B
Income tax$667.20M$683.80M$654.60M$498.60M$896.10M$718.90M$678.40M$615.90M$923.90M$706.50M
Net income$2.09B$2.10B$1.79B$1.56B$3.08B$2.37B$2.13B$1.84B$1.50B$1.22B
EPS, basic$9.26$9.18$7.78$6.73$13.25$10.08$8.82$7.41$6.07$4.85
EPS, diluted$9.24$9.15$7.76$6.70$13.12$9.98$8.70$7.27$5.97$4.75
Diluted shares220.3M223.3M224.8M227.1M228.8M231.2M238.6M246.9M245.1M250.3M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$3.38B$2.71B$2.14B$1.87B$1.62B$2.26B$1.86B$1.50B$2.01B$1.27B
Goodwill$2.64B$2.64B$2.64B$2.64B$2.69B$665.70M$665.70M$665.70M$665.70M$665.70M
Total assets$14.34B$13.47B$12.28B$11.64B$12.51B$10.66B$9.33B$7.69B$7.54B$6.22B
Total liabilities$2.29B$2.02B$1.99B$1.96B$2.26B$1.39B$1.11B$824.70M$718.20M$529.20M
Shareholders' equity$10.86B$10.51B$9.70B$9.03B$9.27B$7.71B$7.10B$6.12B$5.82B$5.01B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$1.75B$1.69B$1.22B$2.36B$3.45B$1.92B$1.52B$1.62B$229.50M$170.50M
Capital expenditures$274.20M$423.40M$307.90M$237.60M$239.10M$214.60M$204.60M$168.50M$186.10M$148.30M
Free cash flow$1.48B$1.26B$911.20M$2.12B$3.21B$1.70B$1.32B$1.45B$43.40M$22.20M
Investing cash flow$230.30M-$177.50M$128.20M-$41.50M-$1.10B-$36.30M-$324.50M-$875.50M$39.00M$106.20M
Financing cash flow-$1.28B-$936.60M-$1.08B-$2.08B-$2.99B-$1.49B-$832.70M-$1.24B$461.50M-$176.40M
Dividends paid$1.14B$1.14B$1.12B$1.11B$1.70B$845.80M$733.90M$694.30M$563.10M$540.80M
Share repurchases$620.90M$337.20M$254.40M$849.80M$1.14B$1.20B$705.80M$1.09B$458.10M$676.90M
Stock-based compensation$216.90M$247.30M$265.60M$285.40M$274.60M$246.20M$206.60M$197.10M$152.00M$161.60M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY3.1%9.8%-0.4%-15.4%23.6%10.5%4.6%10.7%13.3%2.0%
Net income growth, YoY-0.6%17.4%14.8%-49.5%29.9%11.3%16.0%22.7%23.3%-0.7%
EPS growth, YoY1.0%17.9%15.8%-48.9%31.5%14.7%19.7%21.8%25.7%2.6%
Operating margin29.9%32.9%30.7%36.6%48.4%44.2%42.5%44.0%43.4%40.5%
Net margin28.5%29.6%27.7%24.0%40.2%38.2%37.9%34.2%30.9%28.4%
Free cash flow margin20.2%17.8%14.1%32.7%41.9%27.5%23.5%27.0%0.9%0.5%
Return on equity19.2%20.0%18.4%17.3%33.3%30.8%30.0%30.0%25.7%24.3%
Return on assets14.6%15.6%14.6%13.4%24.6%22.3%22.8%23.9%19.9%19.5%

Source: XBRL data T. Rowe Price Group Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

TROW peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
TROW$7.70B+6.9%$2.19B28.4%$23.13B
PFG$16.63B+5.2%$1.98B11.9%$23.55B
IVZ$7.14B+13.7%-$316.00M-4.4%$11.90B
MORN$2.62B+9.4%$445.50M17.0%$9.06B
VOYA$8.06B-0.3%$625.00M7.8%$8.84B

TROW FAQ

8 questions
  • What is TROW revenue?
    T. Rowe Price Group Inc. (TROW) reported $7.70B of revenue for the twelve months ended Sep 30, 2026. That is up 6.9% from the year before. Revenue for fiscal 2025 was $7.31B.
  • Is TROW profitable?
    Yes. T. Rowe Price Group Inc. earned $2.19B in net income for the twelve months ended Sep 30, 2026, a net margin of 28.4%.
  • How much cash and debt does TROW have?
    T. Rowe Price Group Inc. reported $3.77B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is TROW revenue growing?
    T. Rowe Price Group Inc.'s revenue changed +3.1% in fiscal 2025, to $7.31B. Its compound annual growth rate was +3.3% over 5 years and +5.7% over 10 years.
  • What is TROW free cash flow?
    T. Rowe Price Group Inc. generated $1.60B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.87B less capital expenditures.
  • What is TROW earnings per share?
    Diluted earnings per share were $9.88 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did TROW last report financial results?
    The latest statements here come from T. Rowe Price Group Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this TROW financial data come from?
    Quantisnow builds these statements from the structured XBRL data T. Rowe Price Group Inc. files with the SEC. It is provided for information only and is not investment advice.