T Rowe Price Group Inc

Investment Advice

TROWMixed10 of 11 basics passed

$105.16

+0.89%

Market cap $22.4B

$105.16

+0.89%

Market cap $22.4B

T. Rowe Price provides asset management services for individual and institutional investors.

It is a $22.4B financial services company. Revenue grew 7.0% over the last year, and it keeps 29¢ of every dollar of sales as profit. It trades at 10.1× earnings — near the lowest of its own history.

Website: troweprice.com
Location: Baltimore, MD
Employees: 7 773
Sector: Financial Services
Founded: 1937

Share price · 3 years

$104.87 → $105.16+0.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $7.59B
Profit: keeps 29¢ of every $1 sold; $2.22B
Free cash flow: cash left after running the business; $1.67B
P/E: years of profit in the price; 10.1
EPS: earnings per share, TTM; $9.58
Dividend: pays out 51% of profit · 68% of FCF; 5.08%
Shares: down 12% since 2018 — buybacks; 231.9M
Volatility: beta vs the market — under 1 swings less; 1.47

Revenue, last 8 years

52-week range

Low $86.19$105.16High $121.68

Today's price is 53% of the way from the year's low to its high.

P/E vs its history5y

10.2×median 13.0×

Higher than 6% of past days — near the lowest of its own history.

Valuation vs own history

P/E

10.2×

94%

P/S

3.0×

97%

EV/EBITDA

8.4×

83%

P/B

1.8×

99%

FCF yield

7.5%

74%

Share of the last ~5 years that was pricier than today (unusually cheap vs its own history). Based on the daily valuation record.

Insider activity · 90 days

-$1.12Mnet selling

Purchases$0

Sales$1.12M

Insiders trading, last 14d0 buy · 0 sell

Standing in Financial Services

Size$22.4Btop 55%
Revenue growth+4%top 73%
Net margin29%top 21%
Return on equity20%top 23%
P/E10.1×top 16%
Dividend yield5.08%top 7%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation, profitability and moat; Growth and Health lag behind.

Valuation90

P/E vs own history6th pct · 25/25
FCF yield7.5% · 20/25
P/S3.0x · 20/25
EV/EBITDA7.9x · 25/25

Growth5

Revenue CAGR-1.2% · 0/25
Net income CAGR-9.3% · 0/25
EPS CAGR ~5Y-2.0% · 0/25
Fwd implied growth0.0% · 5/25

Profitability95

ROIC27.9% · 25/25
ROE20.4% · 20/25
Net margin29.3% · 25/25
Operating margin30.8% · 25/25

Health43

Altman Zn/a · 0/25
Current ratio2.85 · 25/25
Interest coverage5.7x · 18/25
Net cash / debtn/a · 0/25

Quality60

Piotroski F3/9 · 5/25
Beneish M-2.32 · 20/25
FCF conversion75% · 15/25
Margin stabilityσ 6.6% · 20/25

Moat75

ROIC >12% years10/10 yrs · 25/25
Median gross marginn/a · 0/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 24.0% · 25/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

2023Milestone
The firm has assets under management of more than $1.51 trillion
FY2021Financial
Best year on record
$3.08B net income
FY2018Financial
Revenue crossed $1B
$5.37B for the year
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Positive free cash flow every year since
10-year streak
2001Product
The company launched T
1999Milestone
Rowe Price to create an asset management partnership with Sumitomo Bank and Daiwa Securities in Tokyo in 1999
1986IPO
Rowe Price held its initial public offering, valued at nearly $200 million, in 1986
1950Product
Its clientele grew too large for the staff to manage accounts individually, so the firm incorporated and…
1937Founded
The firm was founded in 1937 by Thomas Rowe Price Jr. who is best known for developing the growth stock philosophy…

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$4 940 today — price return only

$7.3B revenue in FY2025

Revenue up 7.0% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

7 773 employees

ROIC of 27.9%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (99.8%)
Strongly profitable — 29.3% net margin
Strong cash conversion — FCF is 22.0% of revenue
Interest covered 5.7× by operating earnings
High returns on invested capital (ROIC 27.9%)

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+7.0% YoY
Profitable — makes more than it spends$2.22B TTM
Profit growing — earnings are higher than last year+11.4% YoY
Generates cash — cash left after running and investing$1.67B TTM
Debt under control — could handle its obligationscurrent ratio 2.85
Established company — not a micro-cap — lower blow-up risk$22.4B market cap
Not printing shares — share count not ballooning — you keep your slice-2.5% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 43/100
Pays a dividend — returns cash to shareholdersyield 5.08%
Valuation not extreme — price not wildly above earningsP/E 10.1

Peer comparisonT Rowe Price Group Inc vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
TROW this company	$22.4B	10.1	+7.0%	29.3%	Mixed
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: TROW vs BRK.A · TROW vs BRK.B · TROW vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Hold 11Sell 6Strong sell 2

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $7.59B · net income $2.22B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$7.59B

YoY 7.0%

Net income (TTM)

$2.22B

Margin 29.3%

Gross margin

99.8%

Operating margin

30.8%

P/E ratio

10.1

Dividend yield

5.08%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	6.2	7.7	6.5	6.5	7.1	7.3
Gross profit	—	—	—	—	—	—
Operating income (EBIT)	2.7	3.7	2.4	2.0	2.3	2.2
Net income	2.4	3.1	1.6	1.8	2.1	2.1
EPS (diluted)	9.98	13.12	6.00	7.00	9.00	9.00

Cash flowFree cash flow $1.67B · operating cash flow $1.93B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.67B

Margin 22.0%

Operating cash flow (TTM)

$1.93B

FCF margin

22.0%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	1.9	3.5	2.4	1.2	1.7	1.8
Capital expenditure	-0.2	-0.2	-0.2	-0.3	-0.4	-0.3
Free cash flow	1.7	3.2	2.1	0.9	1.3	1.5
FCF margin	27.5%	41.9%	32.7%	14.1%	17.8%	20.2%

Balance sheetAssets $14.3B · debt n/a (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $14.3B of assets is financed

17%

83%

Liabilities $2.29B — borrowed moneyEquity $10.9B — owners' stake

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

5.7x

EBIT ÷ interest expense

ROE

20.4%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	2.2	1.5	1.8	2.1	2.6	3.4
Total assets	10.7	12.5	11.6	12.3	13.5	14.3
Total liabilities	1.4	2.3	2.0	2.0	2.0	2.3
Total debt	—	—	—	—	—	—
Equity	7.7	9.0	8.8	9.5	10.3	10.9
Net debt	—	—	—	—	—	—

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of TROW on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $105.16 · market cap $22.4B.