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T. Rowe Price Group Inc (TROW) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Asset Management & Custody Banks · DATA UPDATED 2026-07-16

T. Rowe Price Group Inc (TROW) operates in the Asset Management & Custody Banks industry and is headquartered in Baltimore, United States with about 7,507 employees. Its market capitalization is roughly $25 billion. In the fiscal year ended 2025-12-31, TROW reported $7.3B in revenue and $2.1B in net income.

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.

Interactive charts & full statements → Open the TROW valuation workbench →

TROW Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$7.4B	$7.3B	$7.1B	$6.5B	$6.5B	$7.7B	$6.2B	$5.6B	$5.4B	$4.8B	$4.2B	$4.2B	$4.0B	$3.5B	$3.0B	$2.7B	$2.4B	$1.9B	$2.1B	$2.2B	$1.8B
Gross Profit	$5.1B	$4.6B	$3.7B	$3.8B	$4.2B	$5.3B	$5.3B	$4.7B	$3.1B	$3.0B	$2.6B	$2.6B	$2.5B	$2.2B	$1.9B	$2.6B	$2.3B	$1.8B	$2.0B	$2.0B	$1.6B
Gross Margin %	69.0%	62.7%	51.9%	58.6%	64.2%	68.9%	84.9%	83.5%	58.2%	62.2%	61.3%	62.0%	63.0%	63.4%	62.2%	93.1%	95.4%	94.5%	95.2%	89.9%	88.6%
Operating Income (EBIT)	$2.2B	$2.2B	$2.3B	$2.0B	$2.4B	$3.7B	$2.1B	$1.7B	$2.4B	$2.1B	$1.7B	$1.9B	$1.9B	$1.6B	$1.4B	$1.2B	$1.0B	$702M	$848M	$996M	$787M
Operating Margin %	30.2%	29.9%	32.9%	30.7%	36.6%	48.4%	33.1%	29.6%	44.0%	44.0%	41.0%	45.2%	47.5%	47.0%	45.1%	44.7%	43.8%	37.6%	40.1%	44.7%	43.4%
Net Income	$2.1B	$2.1B	$2.1B	$1.8B	$1.6B	$3.1B	$2.4B	$2.1B	$1.8B	$1.5B	$1.2B	$1.2B	$1.2B	$1.0B	$884M	$773M	$672M	$434M	$491M	$671M	$530M
Net Margin %	28.3%	28.5%	29.6%	27.1%	24.0%	40.2%	38.2%	37.9%	34.2%	31.2%	28.8%	29.1%	30.9%	30.1%	29.2%	28.1%	28.4%	23.2%	23.2%	30.1%	29.2%
EBITDA	$2.9B	$2.9B	$3.0B	$2.2B	$2.7B	$3.9B	$2.2B	$1.9B	$2.5B	$2.3B	$1.9B	$2.0B	$2.0B	$1.7B	$1.4B	$1.3B	$1.1B	$767M	$910M	$1.1B	$833M
Earnings Per Share (EPS)	$9.45	$9.33	$9.40	$7.79	$6.86	$13.47	$10.26	$8.93	$7.44	$6.11	$4.85	$4.69	$4.60	$3.93	$3.39	$2.94	$2.54	$1.65	$1.82	$2.40	$1.90
Shares Outstanding (M)	223M	224M	223M	225M	227M	229M	231M	239M	247M	245M	250M	261M	267M	266M	261M	263M	265M	262M	270M	279M	279M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TROW Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.9B	$1.9B	$1.9B	$1.7B	$1.8B	$1.8B	$1.8B	$1.7B
Gross Profit	$1.5B	$1.8B	$1.0B	$828M	$922M	$948M	$941M	$912M
Gross Margin %	78.3%	94.6%	53.1%	48.1%	52.3%	51.9%	52.7%	52.6%
Operating Income (EBIT)	$643M	$471M	$643M	$478M	$596M	$568M	$614M	$565M
Operating Margin %	34.6%	24.3%	34.0%	27.8%	33.8%	31.1%	34.4%	32.6%
Net Income	$498M	$445M	$646M	$505M	$490M	$440M	$603M	$483M
Net Margin %	26.8%	23.0%	34.1%	29.3%	27.8%	24.1%	33.8%	27.9%
EBITDA	$701M	$676M	$819M	$695M	$689M	$916M	$590M	$796M
Earnings Per Share (EPS)	$2.23	$1.99	$2.94	$2.29	$2.20	$1.97	$2.71	$2.16
Shares Outstanding (M)	223M	224M	220M	220M	223M	223M	223M	224M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TROW Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.4B	$1.8B	$1.7B	$1.2B	$2.4B	$3.5B	$1.9B	$1.5B	$1.6B	$230M	$170M	$1.5B	$1.3B	$1.2B	$903M	$948M	$733M	$536M	$742M	$758M	$593M
Capital Expenditures (CapEx)	$274M	$274M	$423M	$308M	$238M	$239M	$215M	$205M	$168M	$186M	$148M	$151M	$126M	$106M	$77M	$82M	$118M	$134M	$144M	$146M	$94M
Free Cash Flow (FCF)	$2.2B	$1.5B	$1.3B	$911M	$2.1B	$3.2B	$1.7B	$1.3B	$1.5B	$43M	$22M	$1.4B	$1.2B	$1.1B	$826M	$866M	$615M	$402M	$598M	$612M	$499M
FCF Margin %	29.3%	20.2%	17.8%	14.1%	32.7%	41.9%	27.5%	23.5%	27.0%	0.9%	0.5%	32.3%	29.3%	32.4%	27.3%	31.5%	26.0%	21.5%	28.2%	27.5%	27.5%
Dividends Paid	$1.1B	$1.1B	$1.1B	$1.1B	$1.1B	$1.7B	$846M	$734M	$694M	$563M	$541M	$1.1B	$462M	$397M	$603M	$318M	$279M	$257M	$312M	$180M	$148M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TROW Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$954M	($19M)	$982M	$530M	$750M	($282M)	$652M	$678M
Capital Expenditures (CapEx)	$62M	$67M	$63M	$82M	$82M	$113M	$105M	$103M
Free Cash Flow (FCF)	$892M	($85M)	$919M	$448M	$668M	($395M)	$548M	$574M
FCF Margin %	48.0%	-4.4%	48.5%	26.0%	37.9%	-21.6%	30.7%	33.1%
Dividends Paid	$289M	$284M	$283M	$286M	$290M	$285M	$281M	$283M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TROW Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$14.4B	$14.6B	$13.5B	$12.3B	$11.6B	$12.5B	$10.7B	$9.3B	$7.7B	$7.5B	$6.2B	$5.1B	$5.6B	$5.0B	$4.2B	$3.8B	$3.6B	$3.2B	$2.8B	$3.2B	$2.8B
Cash & Cash Equivalents	$3.7B	$3.4B	$2.6B	$2.1B	$1.8B	$1.5B	$2.2B	$1.8B	$1.4B	$1.9B	$1.2B	$1.2B	$1.5B	$1.4B	$879M	$898M	$813M	$743M	$619M	$785M	$773M
Total Liabilities	$2.5B	$2.6B	$2.0B	$2.0B	$2.0B	$2.3B	$1.4B	$1.1B	$825M	$718M	$529M	$345M	$249M	$215M	$357M	$350M	$346M	$328M	$331M	$400M	$338M
Total Debt (Short + Long-Term)	$438M	$56M	$32M	$72M	$330M	$76M	$50M	$27M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M
Total Shareholders' Equity	$10.8B	$10.9B	$10.3B	$9.5B	$8.8B	$9.0B	$7.7B	$7.1B	$6.1B	$5.8B	$5.0B	$4.8B	$5.4B	$4.8B	$3.8B	$3.4B	$3.3B	$2.9B	$2.5B	$2.8B	$2.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive TROW viewer.

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