T. Rowe Price (TROW): financials, SEC filings and peers
T. Rowe Price (TROW) is an asset management & custody banks company in the Financials sector of the S&P 500, headquartered in Baltimore, Maryland.
It was founded in 1937 and joined the S&P 500 on July 29, 2019.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Investment Advice”.
T. Rowe Price at a glance
- Revenue (12 months)
- $7.7B
- Revenue growth
- +6.9%
- Operating margin
- 32.0%
- Net income (12 months)
- $2.2B
- Free cash flow (12 months)
- $1.6B
- Cash
- $3.8B
- Debt
- —
- Diluted EPS (12 months)
- $9.89
Twelve months to September 30, 2026, from the 10-Q filed October 29, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, T. Rowe Price reported revenue of $7.7 billion, about the same as a year earlier (+6.9%).
Its operating margin was 32.0%: for every $100 of sales, about $32 was left as operating profit.
Net income was $2.2 billion (28.4% of revenue), 5.1% higher than a year earlier.
Operating cash flow was $1.9 billion and capital spending $268 million, leaving free cash flow of $1.6 billion (20.7% of revenue).
At the end of the period it held $3.8 billion in cash and not reported in debt, a net cash position of $3.8 billion.
The diluted share count fell 2.8% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $6.2 billion in fiscal 2020 to $7.3 billion in fiscal 2025, about 3.3% a year.
- Operating margin narrowed from 44.2% to 29.9% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $7.7B | $6.5B | $6.5B | $7.1B | $7.3B |
| Revenue growth | 23.6% | -15.4% | -0.4% | 9.8% | 3.1% |
| Operating margin | 48.4% | 36.6% | 30.7% | 32.9% | 29.9% |
| Net income | $3.1B | $1.6B | $1.8B | $2.1B | $2.1B |
| Free cash flow | $3.2B | $2.1B | $911M | $1.3B | $1.5B |
| Diluted EPS | $13.12 | $6.70 | $7.76 | $9.15 | $9.24 |
Fiscal years as reported in T. Rowe Price’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed November 10, 2026 — Other event
- 10-Q filed October 29, 2026 — quarterly report
- 8-K filed October 29, 2026 — Earnings results
- 10-Q filed July 31, 2026 — quarterly report
- 8-K filed July 31, 2026 — Earnings results
- 8-K filed May 18, 2026 — Executive or director change
- 8-K filed May 11, 2026 — Shareholder vote results
- 10-Q filed April 30, 2026 — quarterly report
Companies like T. Rowe Price
Other S&P 500 companies in Asset Management & Custody Banks:
- AMPAmeriprise FinancialMinneapolis, Minnesota
- APOApollo Global ManagementNew York City, New York
- ARESAres ManagementLos Angeles, California
- BENFranklin ResourcesSan Mateo, California
- BLKBlackRockNew York City, New York
- BNYBNY MellonNew York City, New York
- BXBlackstone Inc.New York City, New York
- IVZInvescoAtlanta, Georgia
More from Financials
Questions about T. Rowe Price
Is T. Rowe Price's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $7.7 billion, up 6.9% from a year earlier, according to its SEC filings.
Is T. Rowe Price profitable?
Yes. It earned $2.2 billion in net income over the twelve months to September 30, 2026, a net margin of 28.4%.
When did T. Rowe Price last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 29, 2026.
Which companies are similar to T. Rowe Price?
In the S&P 500, T. Rowe Price is grouped in Asset Management & Custody Banks within the Financials sector. Ameriprise Financial (AMP), Apollo Global Management (APO), Ares Management (ARES), Franklin Resources (BEN), BlackRock (BLK) are in the same group.
Understand the numbers
Source: T. Rowe Price’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.