Saturday 17 October 2026 Export TROW’s income statement to Excel — free account

T. Rowe Price Group, Inc.

T. Rowe Price Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.3 billion, up 3.12% from fiscal 2024. In the quarter to June 2026, revenue grew 10.7%, EPS grew 28.6% and free cash flow fell 3.59%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years.

100.88 0.49 −0.48%

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Market cap: $21.6B
P/E: 10.1×
Fwd P/E: 11.9×
Dividend yield: 5.12%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 1.86

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	—	—	1	—	—	1	—	—

Insider Ownership 2.14%

Capital & Financial Ratios $m

Market Cap 21,620.00

Revenue 7,592.00

Net Income 2,326.60

Free Cash Flow 1,673.80

Net Debt (3,234.30)

Current Ratio 4.04

Debt/Equity 0.00

P/E ratio 10.11

Fwd P/E 11.90

P/S ratio 2.84

P/B ratio 1.93

Past 5Y EPS Growth (1.53%)

This Y EPS Growth 4.43%

Next Y EPS Growth (0.90%)

Next Y revenue growth 5.98%

Next 5Y EPS Growth 1.05%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 3.28%

10-year low 10-year high

P/S against its own 10 years 2.29%

10-year low 10-year high

P/B against its own 10 years 2.88%

10-year low 10-year high

Dividends

Payout Ratio 0.52

Annual Dividend Rate 5.17

Annual Dividend Yield 5.12%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	5.17	1.30 1.30 1.30
2025	5.08	1.27 1.27 1.27 1.27
2024	4.96	1.24 1.24 1.24 1.24
2023	4.88	1.22 1.22 1.22 1.22
2022	4.80	1.20 1.20 1.20 1.20
2021	4.32	1.08 1.08 3.00 1.08 1.08
2020	3.60	0.90 0.90 0.90 0.90
2019	3.04	0.76 0.76 0.76 0.76
2018	2.80	0.70 0.70 0.70 0.70
2017	2.28	0.57 0.57 0.57 0.57
2016	2.16	0.54 0.54 0.54 0.54

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,067	2,650	3,378	3,234
Receivables	808	877	931	942
Inventory	—	—	—	—
Other	—	—	—	—
	2,875	3,527	4,309	4,176

	2023	2024	2025	Q'26
Payables	423	354	353	402
ST’ Debt	—	—	—	—
Other	—	—	—	—
	730	660	643	1,034

Compound Annual Growth %

	10y	5y	3y
Sales	5.70%	3.34%	4.08%
Cash Flow	1.37%	(1.79%)	(9.42%)
Earnings	5.37%	(2.47%)	10.20%
Book Value	8.75%	7.41%	6.85%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,857	1,907	—	—	—
’25	1,764	1,723	1,894	1,934	7,315
’24	1,750	1,733	1,786	1,825	7,094
’23	1,538	1,610	1,671	1,642	6,461
’22	1,863	1,513	1,588	1,524	6,488
’21	1,827	1,929	1,954	1,962	7,672
’20	1,463	1,415	1,596	1,733	6,207

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	824	517	—	—	—
’25	633	530	609	(19)	1,753
’24	637	678	653	(282)	1,686
’23	512	395	470	(157)	1,219
’22	1,103	624	768	(135)	2,359
’21	995	807	1,289	361	3,452
’20	788	853	276	2	1,919

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	762	451	—	—	—
’25	551	468	546	(85)	1,479
’24	535	574	548	(395)	1,262
’23	451	323	376	(239)	911
’22	1,049	556	713	(196)	2,122
’21	936	744	1,232	301	3,213
’20	742	794	226	(57)	1,704

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.23	2.88	—	—	—
’25	2.15	2.24	2.87	1.99	9.24
’24	2.49	2.11	2.64	1.92	9.15
’23	1.83	2.06	1.97	1.90	7.76
’22	2.41	1.46	1.66	1.16	6.70
’21	3.17	3.46	3.31	3.18	13.12
’20	1.41	2.55	2.73	3.33	9.98

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	62.97	65.33	84.59	86.61	82.51	145.82	93.53	87.43	100.49	77.85	Analyst estimates 2026–2028 Powerpack
	High	79.00	106.10	127.43	126.16	154.33	224.56	198.87	132.76	125.81	118.32
People
People	Employees	6,329	6,881	7,022	7,365	7,678	7,529	7,868	7,906	8,158	7,773
	Revenue/emp, $m	0.68	0.71	0.77	0.76	0.81	1.02	0.82	0.82	0.87	0.94
Income, $m
Income, $m	Revenue	4,285	4,855	5,373	5,618	6,207	7,672	6,488	6,461	7,094	7,315
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	1,961	2,505	2,385	2,927	3,242	3,995	1,948	2,490	2,820	2,876
	EBT margin, %	45.75	51.60	44.38	52.11	52.24	52.07	30.03	38.55	39.75	39.31
	Net income	1,254	1,581	1,769	2,249	2,523	3,099	1,450	1,836	2,136	2,208
	Depreciation	133	144	160	191	190	205	646	482	504	606
Per share, $
Per share, $	Revenue	17.45	20.13	22.18	23.87	27.13	33.86	28.71	28.83	31.84	33.25
	Earnings	4.85	6.07	7.41	8.82	10.08	13.25	6.73	7.78	9.18	9.26
	Cash flow	0.69	0.95	6.69	6.47	8.39	15.23	10.44	5.44	7.57	7.97
	Capex	(0.60)	(0.77)	(0.70)	(0.87)	(0.94)	(1.06)	(1.05)	(1.37)	(1.90)	(1.25)
	Free cash flow	0.09	0.18	5.99	5.60	7.45	14.18	9.39	4.07	5.67	6.72
	Book value	20.40	24.15	25.29	30.17	33.68	40.92	39.96	43.27	47.15	50.08
	Shares, m	246	241	242	235	229	227	226	224	223	220
Valuation, ×
Valuation, ×	P/E	15.87	16.98	12.49	13.81	14.96	14.84	16.22	13.85	12.32	11.06
	P/S	4.35	5.12	4.16	5.11	5.58	5.81	3.80	3.74	3.55	3.08
	P/B	3.72	4.27	3.65	4.04	4.49	4.81	2.73	2.49	2.40	2.04
	EV/Sales	4.06	4.73	3.90	4.79	5.23	5.61	3.53	3.42	3.18	2.62
	EV/FCF	784.41	529.04	14.42	20.41	19.06	13.39	10.80	24.27	17.86	12.94
Cash, $m
Cash, $m	Operating cash flow	171	230	1,620	1,523	1,919	3,452	2,359	1,219	1,686	1,753
	Capex	(148)	(186)	(168)	(205)	(215)	(239)	(238)	(308)	(423)	(274)
	Free cash flow	22	43	1,451	1,318	1,704	3,213	2,122	911	1,262	1,479
Balance, $m
Balance, $m	Working capital	1,347	2,075	1,569	2,070	2,609	1,816	1,824	2,145	2,867	3,666
	Total debt	—	—	—	147	154	249	433	—	—	—
	Net debt	(1,205)	(1,903)	(1,425)	(1,782)	(2,152)	(1,523)	(1,756)	(2,067)	(2,650)	(3,378)
	Shareholders’ equity	5,009	5,824	6,124	7,102	7,707	9,271	9,030	9,697	10,506	11,017
Returns, %
Returns, %	ROA	20.99	21.28	24.14	24.40	23.09	25.92	12.60	14.58	15.88	14.64
	ROIC	28.48	33.61	31.41	28.04	30.89	29.93	20.39	16.27	18.56	17.91
	ROE	24.35	27.03	30.76	31.39	31.16	35.37	16.63	18.63	20.24	18.92

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NTRS Northern Trust Corporation	$30.3B	14.1×	15.2×	+16.99% (above 0%: growing)	+98.60% (above 0%: growing)	−113.28% (below 0%: shrinking)	64.06%	0.00%	Compare
RJF Raymond James Financial, Inc.	$30.3B	13.4×	13.4×	+13.53% (above 0%: growing)	+41.67% (above 0%: growing)	−148.58% (below 0%: shrinking)	100.00%	26.55%	Compare
PFG Principal Financial Group, Inc.	$23.3B	15.2×	11.5×	+6.39% (above 0%: growing)	+3.31% (above 0%: growing)	+154.82% (above 0%: growing)	48.38%	12.71%	Compare
TROW T. Rowe Price Group, Inc.	$21.6B	10.1×	11.9×	+10.68% (above 0%: growing)	+28.57% (above 0%: growing)	−3.59% (below 0%: shrinking)	100.00%	28.34%
TPG TPG Inc.	$16.7B	36.0×	14.3×	+100.04% (above 0%: growing)	n/m	−14.25% (below 0%: shrinking)	100.00%	20.65%	Compare
BEN Franklin Resources Inc	$15.9B	21.1×	18.2×	+14.26% (above 0%: growing)	+106.67% (above 0%: growing)	−55.71% (below 0%: shrinking)	100.00%	9.15%	Compare
CRBG Corebridge Financial, Inc.	$15.4B	20.1×	7.5×	+43.58% (above 0%: growing)	n/m	+83.01% (above 0%: growing)	31.27%	4.68%	Compare
EQH Equitable Holdings, Inc.	$14.6B	— (loss-making)	6.8×	−29.81% (below 0%: shrinking)	n/m	+89.52% (above 0%: growing)	50.84%	(26.36%)	Compare
OWL Blue Owl Capital Inc.	$14.0B	73.8×	28.8×	+7.10% (above 0%: growing)	−33.33% (below 0%: shrinking)	+9.82% (above 0%: growing)	100.00%	15.46%	Compare
Median of peers	$16.3B	20.1×	13.9×	+13.90%	+41.67%	−2.21%	82.03%	10.93%

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T. Rowe Price Group, Inc. (TROW) key facts

Strength: T. Rowe Price Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.3 billion, up 3.12% from fiscal 2024.
T. Rowe Price Group, Inc. (TROW) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, TROW traded at $100.88, a market capitalization of $21.6 billion.
T. Rowe Price Group, Inc. pays an annual dividend of $5.17 per share, a yield of 5.12%, with a payout ratio of 51.9%.
Return on equity was 18.9% and debt-to-equity 0.00.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.