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T. Rowe Price Group, Inc.

T. Rowe Price Group, Inc.

NASDAQ•TROW
CEO: Mr. Robert W. Sharps C.F.A., CPA
Sector: Financial Services
Industry: Asset Management
Listing Date: 1986-04-02
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 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, Shanghai, China; Germany, Madrid, Spain, Milan, Italy, Stockholm, Sweden, Melbourne, Australia, Amsterdam, Netherlands and Washington, DC.
Contact Information
100 East Pratt Street, Baltimore, MD, 21202, United States
410-345-2000
www.troweprice.com
Market Cap
$23.18B
P/E (TTM)
11.1
0
Dividend Yield
4.8%
52W High
$120.71
52W Low
$77.85
52W Range
63%
Rank18Top 3.4%
6.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.89B+6.04%
4-Quarter Trend

EPS

$2.88+9.01%
4-Quarter Trend

FCF

$753.50M+37.52%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

YTD Net Revenue Growth Net revenues reached $5,380.7M for nine months, marking a 2.1% increase over prior period, driven by advisory fees.
Assets Under Management Ending AUM totaled $1,767.2B as of September 30, reflecting strong 8.4% growth this quarter from June 30, 2025.
Diluted EPS Holds Steady Diluted EPS was $7.25 YTD, showing slight 0.3% increase despite GAAP net income decline to $1,641.8M.
Stockholder Cash Return Returned $1,342.5M to stockholders YTD via dividends and share repurchases totaling $483.8M in the first nine months.

Risk Factors

GAAP Net Income Dip Net income attributable to TRP fell 1.1% YTD to $1,641.8M, primarily due to expense pressures outpacing revenue growth.
Operating Expense Inflation GAAP operating expenses rose 4.5% YTD to $3,662.9M, driven by compensation and technology cost increases.
Fee Rate Compression Annualized effective fee rate declined 4.3% YTD, reflecting shifts toward lower-fee investment strategies and products.
Q3 Restructuring Charge Recognized $28.5M restructuring charge in Q3 2025 related to ongoing workforce realignment and resource realignment efforts.

Outlook

Q4 Office Exit Charge Expect non-cash charge up to $100M in Q4 2025 related to exiting two owned office buildings in Owings Mills, Maryland.
Expense Growth Alignment Ongoing plan to align expense growth with anticipated revenue growth and invest in existing and future capabilities.
Technology Capital Investment Anticipate $275M CapEx for full year 2025, with over 80% allocated specifically toward technology initiatives.
Performance Focus Maintained Focus remains on strong investment performance to attract and retain investor assets under management globally.

Peer Comparison

Revenue (TTM)

The Bank of New York Mellon CorporationBK
$40.41B
+19.2%
Apollo Global Management, Inc.APO
$27.47B
-13.8%
BlackRock, Inc.BLK
$22.89B
+18.2%

Gross Margin (Latest Quarter)

PennantPark Floating Rate Capital Ltd.PFLT
248.1%
+185.4pp
T. Rowe Price Group, Inc.TROW
102.9%
+50.2pp
Blackstone Inc.BX
100.0%
+3.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BX$181.36B43.732.9%29.7%
BLK$168.73B27.712.2%1.4%
KKR$121.76B37.08.5%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.2%
Moderate Growth
4Q Net Income CAGR
12.8%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:$2.49
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 31, 2025|
    Revenue: $1.89B+6.0%
    |
    EPS: $2.88+9.0%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 1, 2025|
    Revenue: $1.72B-0.6%
    |
    EPS: $2.24+6.2%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 2, 2025|
    Revenue: $1.76B+0.8%
    |
    EPS: $2.15-14.0%
    Meet
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 14, 2025|
    Revenue: $7.09B+9.8%
    |
    EPS: $9.18+18.0%
    Meet
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 1, 2024|
    Revenue: $1.79B+6.9%
    |
    EPS: $2.64+33.3%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 26, 2024|
    Revenue: $1.73B+7.6%
    |
    EPS: $2.11+1.9%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $1.75B+13.8%
    |
    EPS: $2.50+36.6%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 16, 2024|
    Revenue: $6.46B-0.4%
    |
    EPS: $7.78+15.6%
    Beat