Is T. Rowe Price (TROW) overvalued or fairly valued?

MarketChacha shows T. Rowe Price's valuation in context — a trailing P/E of about 10.8, a forward P/E of about 10.7, a price-to-book of about 2.1 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

What is T. Rowe Price's revenue?

T. Rowe Price reported revenue of $7.3B for FY2025, with net profit of $2.1B, per official filings.

What is the share price of T. Rowe Price (TROW)?

T. Rowe Price last traded at $110.88 (+1.4% on the day), as of 9/3/2026 — a delayed quote shown for education, not investment advice.

T. Rowe Price

TROW · NASDAQ · Financials · United States

Snapshot

TickerTROW

ExchangeNASDAQ

SectorFinancials

IndustryAsset Management

CountryUnited States

Employees7,544

HeadquartersBaltimore, United States

Websitewww.troweprice.com

Filings tracked16

About T. Rowe Price

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.

Who owns it

Insiders1.7%
Institutions91.7%
Public & other6.6%

1,550 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.11.25%
State Street Corporation6.87%
Vanguard Capital Management LLC6.55%
Vanguard Portfolio Management LLC4.71%
Goldman Sachs Group Inc3.96%
Charles Schwab Investment Management, Inc.3.36%
Geode Capital Management, LLC2.94%
Morgan Stanley1.93%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Over 3 years only 0.78× of reported profit became operating cash — the classic sign that headline earnings may be running ahead of the cash actually generated. Often explained by working capital funding growth; worth a closer look.

Cash conversion0.78×

Net margin trend27.7% → 28.5%

Margin has held broadly steady over the period — stable profitability.

Return on equity19.2%

Latest ROE of 19.2% — capital is generating a healthy return.

Growth qualityrev 6% · PAT 8%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $2.0B · EPS 2.46

Est. earnings growth +0.8%

Next fiscal year

Rev $8.0B · EPS 10.32

Est. earnings growth +0.9%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$7.3B

Net margin

28.5%

ROE

19.2%

Revenue CAGR (2y)

+6.4%

Profit CAGR (2y)

+8.0%

EPS (FY2025)

9.24

Net profit (FY2025)

$2.1B

Ask MarketChacha about TROW

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$7.3B	$2.1B	9.24	28.5%	19.2%
FY2024	$7.1B	$2.1B	9.15	29.6%	20.3%
FY2023	$6.5B	$1.8B	7.76	27.7%	18.8%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$1.9B	$632.0M	2.88	33.1%
2026Q1	$1.9B	$498.2M	2.23	26.8%
2025Q3	$1.9B	$646.1M	2.87	34.1%
2025Q2	$1.7B	$505.2M	2.24	29.3%
2025Q1	$1.8B	$490.5M	2.15	27.8%
2024Q3	$1.8B	$603.0M	2.64	33.8%
2024Q2	$1.7B	$483.4M	2.11	27.9%
2024Q1	$1.8B	$573.8M	2.49	32.8%
2023Q3	$1.7B	$453.2M	1.97	27.1%
2023Q2	$1.6B	$476.4M	2.06	29.6%
2023Q1	$1.5B	$421.5M	1.83	27.4%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC7/31/2026
8-K — Results of operations, Exhibits
SEC7/31/2026material
8-K — Executive/director change, Exhibits
SEC5/18/2026material
8-K — Shareholder vote results
SEC5/11/2026material
8-K — Results of operations, Exhibits
SEC4/30/2026material
10-Q filing
SEC4/30/2026
8-K — Executive/director change, Exhibits
SEC4/22/2026material
10-K filing
SEC2/13/2026
8-K — Results of operations, Exhibits
SEC2/4/2026material

2025

8-K — Executive/director change, Exhibits
SEC11/3/2025material
8-K — Results of operations, Exhibits
SEC10/31/2025material
10-Q filing
SEC10/31/2025
8-K — Executive/director change, Exhibits
SEC10/16/2025material
8-K — Other events, Exhibits
SEC9/4/2025material
8-K — Results of operations, Exhibits
SEC8/1/2025material
10-Q filing
SEC8/1/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.