Valuation, from the filing
| Public float | $20.90B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $95.84 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 10.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 2.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
10.0× earnings today, against a median of 12.9× across 10 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $20.90B | 10.0× | |
| 2024-06-30 | $25.30B | 12.0× | |
| 2023-06-30 | $24.60B | 13.8× | |
| 2022-06-30 | $25.20B | 16.2× | |
| 2021-06-30 | $44.60B | 14.5× | |
| 2020-06-30 | $27.80B | 11.7× | |
| 2019-06-30 | $25.60B | 12.0× | |
| 2018-06-29 | $27.60B | 15.0× | |
| 2017-06-30 | $17.40B | 11.6× | |
| 2016-06-30 | $17.70B | 14.6× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Investment Advice filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| CapEx / revenue | 3.7% | 93th | |
| Net margin | 28.5% | 81th | |
| Operating margin | 29.9% | 78th | |
| Revenue YoY growth | 3.1% | 29th | |
| Effective tax rate | 23.2% | 58th | |
| SBC / revenue | 3.0% | 43th | |
| FCF margin | 20.2% | 56th |
PRICE T ROWE GROUP INC (TROW) reported revenue of $7.70B and net income of $2.19B for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from PRICE T ROWE GROUP INC’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Investment Advice.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2026-09-30 |
|---|---|
| Revenue | $7.70B |
| Cost of revenue | Unavailable |
| Gross profit | Unavailable |
| Operating income | $2.46B |
| Net income | $2.19B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $2.94B |
| Income tax expense | $705.10M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | $3.77B |
| Total assets | $16.15B |
| Current assets | Unavailable |
| Total liabilities | $3.54B |
| Current liabilities | Unavailable |
| Total equity incl. NCI | $11.56B |
| Temporary (mezzanine) equity | $1.06B |
| Inventory | Unavailable |
| Accounts receivable | $952.20M |
| Goodwill | $2.64B |
| Long-term debt | Unavailable |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | $1.87B |
| Capital expenditures | $267.80M |
| Investing cash flow | -$465.70M |
| Financing cash flow | -$1.19B |
| Net change in cash | $199.70M |
| Stock-based compensation | $218.20M |
| Common dividends paid | $1.14B |
| Common share repurchases | $640.00M |
| Depreciation & amortization | Unavailable |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | $1.60B |
| Gross margin | Unavailable |
| Operating margin | 32.0% |
| FCF margin | 20.7% |
| SBC / revenue | 2.8% |
| Current ratio | Unavailable |
| Revenue YoY growth | 6.9% |
| Net margin | 28.4% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 3.5% |
| Long-term debt / equity | Unavailable |
| Effective tax rate | 24.0% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open TROW in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.