T. Rowe Price Group, Inc.TROW
NasdaqGS•Financial Services•Asset Management
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.
T. Rowe Price Group, Inc. (TROW) reported trailing twelve months revenue of $7.41B as of March 2026, a 4.2% increase year-over-year. Quarterly revenue reached $1.86B, reflecting continued top-line momentum.
T. Rowe Price Group, Inc. generated $2.09B in TTM net income, with quarterly EBITDA of $701.00M. The operating margin expanded from 33.8% to 34.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (34.6%) and net margin (26.8%) indicates moderate non-operating costs. Net margin has narrowed from 27.8% a year ago, reflecting increased costs or interest expense.
TROW trades at a P/E of 9.5x (below the broader market average) and a P/S of 2.7x. The price-to-book ratio of 1.8x reflects a moderate premium to book value.
The company generated $892.00M in free cash flow over the trailing twelve months, a 33.5% increase year-over-year, indicating cash generation ability. The balance sheet shows $14.39B in total assets with no in long-term debt against $10.78B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~31.6% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 19.6% suggests a durable competitive advantage and efficient capital allocation.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~9.0% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 8.5% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 0.8x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation