T. Rowe Price (TROW)
Market Price (2/23/2026): $95.39 | Market Cap: $20.8 BilSector: Financials | Industry: Asset Management & Custody Banks
T. Rowe Price (TROW)
Market Price (2/23/2026): $95.39Market Cap: $20.8 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 5.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 7.1% | Weak multi-year price returns2Y Excs Rtn is -40%, 3Y Excs Rtn is -76% | Key risksTROW key risks include [1] significant pressure on its traditional active management business model due to the industry-wide shift to lower-cost passive funds, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.02 | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% | ||
| Low stock price volatilityVol 12M is 30% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Sustainable Finance, and Digital & Alternative Assets. Themes include Wealth Management Technology, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 5.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 7.1% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Sustainable Finance, and Digital & Alternative Assets. Themes include Wealth Management Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -40%, 3Y Excs Rtn is -76% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.02 |
| Key risksTROW key risks include [1] significant pressure on its traditional active management business model due to the industry-wide shift to lower-cost passive funds, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. T. Rowe Price's Q4 2025 adjusted earnings per share (EPS) slightly missed analyst expectations. The company reported an adjusted diluted EPS of $2.44 for the fourth quarter of 2025, falling short of the consensus estimate of $2.46. While revenue largely met projections, this earnings miss likely contributed to investor disappointment.
2. The company continued to experience significant net client outflows, particularly from its equity and mutual fund offerings. For the full year 2025, T. Rowe Price recorded total net outflows of $56.9 billion, with $25.5 billion occurring in the fourth quarter alone. These outflows were heavily concentrated in equity products (approximately $75 billion) and mutual funds (nearly $64 billion).
Show more
Stock Movement Drivers
Fundamental Drivers
The -5.8% change in TROW stock from 10/31/2025 to 2/22/2026 was primarily driven by a -6.6% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2222026 | Change |
|---|---|---|---|
| Stock Price ($) | 101.29 | 95.38 | -5.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,205 | 7,315 | 1.5% |
| Net Income Margin (%) | 28.9% | 28.5% | -1.2% |
| P/E Multiple | 10.7 | 10.0 | -6.6% |
| Shares Outstanding (Mil) | 219 | 218 | 0.5% |
| Cumulative Contribution | -5.8% |
Market Drivers
10/31/2025 to 2/22/2026| Return | Correlation | |
|---|---|---|
| TROW | -5.8% | |
| Market (SPY) | 1.1% | 50.1% |
| Sector (XLF) | 0.2% | 61.0% |
Fundamental Drivers
The -3.7% change in TROW stock from 7/31/2025 to 2/22/2026 was primarily driven by a -8.6% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2222026 | Change |
|---|---|---|---|
| Stock Price ($) | 99.02 | 95.38 | -3.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,107 | 7,315 | 2.9% |
| Net Income Margin (%) | 28.4% | 28.5% | 0.6% |
| P/E Multiple | 10.9 | 10.0 | -8.6% |
| Shares Outstanding (Mil) | 222 | 218 | 1.9% |
| Cumulative Contribution | -3.7% |
Market Drivers
7/31/2025 to 2/22/2026| Return | Correlation | |
|---|---|---|
| TROW | -3.7% | |
| Market (SPY) | 9.4% | 55.3% |
| Sector (XLF) | 0.6% | 62.7% |
Fundamental Drivers
The -14.1% change in TROW stock from 1/31/2025 to 2/22/2026 was primarily driven by a -15.2% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2222026 | Change |
|---|---|---|---|
| Stock Price ($) | 111.03 | 95.38 | -14.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,911 | 7,315 | 5.8% |
| Net Income Margin (%) | 30.4% | 28.5% | -6.0% |
| P/E Multiple | 11.8 | 10.0 | -15.2% |
| Shares Outstanding (Mil) | 222 | 218 | 1.9% |
| Cumulative Contribution | -14.1% |
Market Drivers
1/31/2025 to 2/22/2026| Return | Correlation | |
|---|---|---|
| TROW | -14.1% | |
| Market (SPY) | 15.6% | 75.5% |
| Sector (XLF) | 3.0% | 75.3% |
Fundamental Drivers
The -5.7% change in TROW stock from 1/31/2023 to 2/22/2026 was primarily driven by a -11.1% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2222026 | Change |
|---|---|---|---|
| Stock Price ($) | 101.17 | 95.38 | -5.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,926 | 7,315 | 5.6% |
| Net Income Margin (%) | 29.3% | 28.5% | -2.8% |
| P/E Multiple | 11.2 | 10.0 | -11.1% |
| Shares Outstanding (Mil) | 225 | 218 | 3.3% |
| Cumulative Contribution | -5.7% |
Market Drivers
1/31/2023 to 2/22/2026| Return | Correlation | |
|---|---|---|
| TROW | -5.7% | |
| Market (SPY) | 75.9% | 70.6% |
| Sector (XLF) | 50.1% | 67.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TROW Return | 35% | -42% | 3% | 10% | -5% | -8% | -22% |
| Peers Return | 45% | -8% | 9% | 30% | 23% | -2% | 129% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 0% | 83% |
Monthly Win Rates [3] | |||||||
| TROW Win Rate | 75% | 42% | 50% | 58% | 50% | 50% | |
| Peers Win Rate | 65% | 52% | 45% | 67% | 60% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TROW Max Drawdown | -2% | -49% | -16% | -4% | -28% | -10% | |
| Peers Max Drawdown | -3% | -31% | -20% | -8% | -18% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BLK, SCHW, MS, AMP, STT. See TROW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/20/2026 (YTD)
How Low Can It Go
| Event | TROW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -60.5% | -25.4% |
| % Gain to Breakeven | 153.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -38.6% | -33.9% |
| % Gain to Breakeven | 62.8% | 51.3% |
| Time to Breakeven | 137 days | 148 days |
| 2018 Correction | ||
| % Loss | -32.7% | -19.8% |
| % Gain to Breakeven | 48.6% | 24.7% |
| Time to Breakeven | 380 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -67.7% | -56.8% |
| % Gain to Breakeven | 209.4% | 131.3% |
| Time to Breakeven | 657 days | 1,480 days |
Compare to BLK, SCHW, MS, AMP, STT
In The Past
T. Rowe Price's stock fell -60.5% during the 2022 Inflation Shock from a high on 8/31/2021. A -60.5% loss requires a 153.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About T. Rowe Price (TROW)
AI Analysis | Feedback
Like the investment fund management division of a company such as Fidelity or Charles Schwab.
Like Vanguard, but primarily focused on actively managed investment funds.
AI Analysis | Feedback
Major Products and Services of T. Rowe Price (TROW)
- Mutual Funds: Professionally managed investment funds that pool money from multiple investors to invest in a diversified portfolio of securities.
- Target Date Funds: Specific mutual funds designed for retirement savings that automatically adjust their asset allocation over time, becoming more conservative as the target retirement date approaches.
- Exchange-Traded Funds (ETFs): Investment funds that hold assets like stocks, commodities, or bonds, and trade on stock exchanges throughout the day, offering diversification and liquidity.
- Separate Accounts (Institutional Investment Management): Customized investment portfolios managed directly for institutional clients, such as pension funds, endowments, and foundations, tailored to their specific objectives.
- Retirement Plan Services: Comprehensive services offered to employers and individuals for various retirement plans, including 401(k)s and IRAs, encompassing recordkeeping, administration, and investment solutions.
- Investment Advisory Services: Professional guidance and financial planning assistance provided to individuals and institutions to help them achieve their financial goals through personalized investment strategies.
AI Analysis | Feedback
T. Rowe Price (TROW) Major Customers
T. Rowe Price primarily serves a diverse range of clients, encompassing individuals, financial intermediaries, and institutions. While a significant portion of its assets under management ultimately benefits individual investors (either directly or through intermediaries and retirement plans), the company's business model includes serving distinct categories of customers.
Here are the three major categories of customers that T. Rowe Price serves:
- Individual Investors: This category includes retail clients who directly invest with T. Rowe Price through various accounts such as IRAs, 529 plans, brokerage accounts, and taxable investment accounts. It also encompasses individuals whose assets are managed by T. Rowe Price through employer-sponsored retirement plans (like 401(k)s), even if the direct relationship is with the plan sponsor.
- Financial Intermediaries: T. Rowe Price partners with a wide array of financial intermediaries, including financial advisors, broker-dealers, banks, and insurance companies. These intermediaries distribute T. Rowe Price's mutual funds, exchange-traded funds (ETFs), and other investment products to their own client bases, which are often individuals or smaller institutions.
- Institutional Investors: This category comprises large organizations that directly contract with T. Rowe Price for investment management services. Examples include corporate and public pension funds, endowments, foundations, sovereign wealth funds, and other financial institutions. These clients often utilize T. Rowe Price for separately managed accounts, collective investment trusts, or sub-advisory services.
AI Analysis | Feedback
- Bloomberg L.P.
- S&P Global Inc. (SPGI)
- MSCI Inc. (MSCI)
- FactSet Research Systems Inc. (FDS)
AI Analysis | Feedback
```htmlRobert W. Sharps Chief Executive Officer and President
Mr. Sharps is the Chief Executive Officer and President of T. Rowe Price Group, Inc., and also chairs its Board of Directors and key committees. He joined T. Rowe Price in 1997 as an analyst specializing in financial services stocks and served as the lead portfolio manager for the Institutional Large-Cap Growth Equity Strategy for 15 years until 2016. He transitioned to CEO at the beginning of 2022, having previously held roles including president, head of Investments, and group chief investment officer. Prior to T. Rowe Price, Mr. Sharps completed an internship as an equity research analyst at Wellington Management. He began his career in 1993 as a senior management consultant at KPMG Peat Marwick, where he focused on corporate transactions.
Jennifer Dardis Chief Financial Officer and Treasurer
Ms. Dardis is the Chief Financial Officer and Treasurer of T. Rowe Price Group, Inc. She joined the firm in 2006, initially in a corporate strategy role within the CFO Group, and later became the head of Corporate Strategy in 2016. Most recently, she was the head of Finance before becoming CFO in July 2021. Ms. Dardis successfully led the firm through its largest acquisition, Oak Hill Advisors (OHA) for $4.2B. Before joining T. Rowe Price, she held positions in investor relations at Constellation Energy, in finance and business development at Energy Merchant, and in mergers and acquisitions at SG Cowen.
Kimberly H. Johnson Chief Operating Officer
Ms. Johnson is the Chief Operating Officer of T. Rowe Price and a member of the Management Committee. She joined T. Rowe Price in 2022, bringing extensive experience in technology, operations, and corporate strategy. As COO, her responsibilities include leading the Chief Technology Office, Chief Data Office, Corporate Real Estate & Workplace Services, Enterprise Risk Management, Global Client Account Services, Global Investment Operations, and the Transformation Office. Prior to T. Rowe Price, Ms. Johnson was the executive vice president and chief operating officer at Fannie Mae, where she was responsible for technology, operations, data, modeling, analytics, information security, resiliency, innovation, and corporate strategy. She also served as Fannie Mae's Chief Risk Officer. Earlier in her career, she was a Director at Credit Suisse and a U.S. Equity Trader at D.E. Shaw & Co.
Justin Thomson Head of Investment Institute and Chief Investment Officer
Mr. Thomson is the Head of the Investment Institute and Chief Investment Officer. He joined T. Rowe Price in 1998, with his investment experience beginning in 1991. He previously served as the head of International Equity and Chief Investment Officer for International Equities. During his tenure, he was the lead portfolio manager for the International Small-Cap Strategy from 1998 to 2020 and managed the European Small-Cap Strategy from 2008 to 2016. Before joining T. Rowe Price, Mr. Thomson managed European small-cap, global small-cap, and German all-cap portfolios at G.T. Capital/LGT/Invesco.
David Oestreicher General Counsel and Corporate Secretary
Mr. Oestreicher is the General Counsel and Corporate Secretary for T. Rowe Price Group, Inc., and a member of the firm's Management Committee. He oversees the legal, compliance, and audit functions globally. He has been with T. Rowe Price since 1997, where his main areas of practice prior to his current role included U.S. and international investment adviser regulation, global compliance, and non-U.S. fund regulation. Before joining T. Rowe Price, Mr. Oestreicher served as special counsel in the Division of Market Regulation with the U.S. Securities and Exchange Commission and as a judicial law clerk with the Superior Court of Connecticut.
```AI Analysis | Feedback
The key risks to T. Rowe Price (TROW) primarily stem from structural shifts in the asset management industry and broader market dynamics:
-
Shift to Passive Investing and Fee Compression: T. Rowe Price's traditional business model, heavily reliant on actively managed funds with higher fees, faces significant pressure from the ongoing industry-wide shift towards lower-cost passive investment vehicles like index funds and ETFs. This trend has contributed to "deteriorating business model" concerns and has resulted in persistent negative net flows of assets under management (AUM) for T. Rowe Price, even during periods of market growth. The inability to significantly alter its fee-based model to compete with significantly cheaper alternatives poses a long-term challenge to revenue growth and profitability.
-
Fluctuations in Financial Markets: A substantial portion of T. Rowe Price's revenues are derived from advisory fees based on the value of its managed investment portfolios. Consequently, any downturns or volatility in global financial markets directly impact the value of assets under management. A decrease in AUM due to market declines can lead to a significant reduction in advisory fees and overall revenues, and may also trigger investors to withdraw their investments, further exacerbating the decline in AUM.
-
Intense Competition and Investor Mobility: The asset management industry is highly competitive, with T. Rowe Price vying for assets against a wide array of firms, including those that specialize in low-cost passive investing. Investors have the flexibility to withdraw their funds at any time, often without significant penalties. This high degree of investor mobility means that T. Rowe Price constantly faces the risk of redemptions and shifts in client portfolios, which can reduce its AUM if its investment performance lags or if competitors offer more attractive or lower-cost products.
AI Analysis | Feedback
AI Analysis | Feedback
T. Rowe Price (TROW) operates within several large addressable markets for its main products and services: * Asset Management: The global assets under management (AUM) market was valued at approximately USD 685 billion in 2024 and is projected to reach USD 9,509 billion by 2033, growing at a compound annual growth rate (CAGR) of 33.95% from 2025 to 2033. * Mutual Funds: The global mutual fund assets market was approximately USD 67.48 trillion in 2022 and is predicted to grow to around USD 145.23 trillion by 2030, at a CAGR of roughly 10.06% between 2023 and 2030. In the U.S., the mutual fund market is projected to reach USD 50.28 trillion by 2033, with a CAGR of 4.45%. * Retirement Plans and Services: Total U.S. retirement assets amounted to $45.8 trillion as of June 30, 2025. This includes Individual Retirement Accounts (IRAs) with $18.0 trillion in assets and employer-based defined contribution (DC) plans (such as 401(k)s) with $13.0 trillion in assets as of the second quarter of 2025. * Investment Advisory Services: The global financial advisory services market generated USD 115.84 billion in 2025 and is anticipated to advance at a 6.02% CAGR, reaching USD 155.17 billion by 2030. North America held the largest share of this market, accounting for 40.34% of the market share in 2024.AI Analysis | Feedback
T. Rowe Price (TROW) is expected to drive future revenue growth over the next two to three years through several strategic initiatives focused on product expansion, market penetration, and leveraging its core strengths. Key drivers include:
-
Expansion of Exchange-Traded Fund (ETF) Offerings and Assets Under Management (AUM): T. Rowe Price is actively growing its ETF business, which has seen significant net inflows and AUM increases. The company plans to continue broadening its ETF offerings, with expectations to cover over three-quarters of the Morningstar AUM universe by the end of 2026.
-
Growth in Multi-Asset and Alternative Investment Strategies: The firm is focusing on expanding its multi-asset and alternative investment capabilities. This includes strong performance and net inflows in target-date funds and private credit. T. Rowe Price is also engaging in strategic partnerships, such as a collaboration with Goldman Sachs, to launch co-branded products and integrate alternative investments into client portfolios, including public-private market solutions expected by mid-2026.
-
Strengthening and Expanding Retirement Solutions: Leveraging its established leadership in the retirement space, particularly with its target-date franchise, T. Rowe Price aims to introduce customized retirement solutions and income products. The company is also developing a managed account platform for independent advisors to provide participant advice within and outside of retirement plans, anticipated in the latter half of 2026.
-
Global Distribution and International Market Penetration: T. Rowe Price is actively pursuing positive net inflows from clients outside the U.S., particularly in regions like APAC for global equity and EMEA for alternatives. The company continues to emphasize expanding its global distribution footprint, with a focus on markets such as Japan and Switzerland.
AI Analysis | Feedback
Share Repurchases
- T. Rowe Price's board of directors approved a repurchase plan of 24.1 million shares in March 2020. This authorization was increased by nearly 15 million shares in December 2020, bringing the total authorization to 39.1 million shares.
- As of December 31, 2024, approximately 18.4 million shares remained under the existing authorization.
- Actual share repurchases were $849.8 million in 2022, $254.4 million in 2023, and $337.2 million in 2024. The company also reported a $108.56 million buyback of 1,210,000 shares between April and June 2025.
Outbound Investments
- In October 2021, T. Rowe Price announced the acquisition of Oak Hill Advisors, L.P. (OHA), an alternative credit manager, for up to approximately $4.2 billion. The deal included $3.3 billion payable at closing (74% in cash and 26% in T. Rowe Price common stock) and up to an additional $900 million in cash based on business milestones starting in 2025.
- As part of the OHA acquisition, T. Rowe Price committed $500 million for co-investment and seed capital alongside OHA management and investors.
- In April 2023, T. Rowe Price completed the acquisition of Retiree, Inc., a fintech firm specializing in retirement income planning software, to enhance its retirement income capabilities. Financial terms were not disclosed.
Capital Expenditures
- T. Rowe Price invests substantially to upgrade technology to align with changing customer needs, which leads to increased expenses.
Latest Trefis Analyses
Trade Ideas
Select ideas related to TROW.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | FDS | FactSet Research Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -19.1% | -19.1% | -23.8% |
| 01302026 | PFSI | PennyMac Financial Services | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.6% | -7.6% | -9.2% |
| 01232026 | FIS | Fidelity National Information Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -22.6% | -22.6% | -22.6% |
| 01022026 | MORN | Morningstar | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -23.9% | -23.9% | -26.8% |
| 01022026 | ABR | Arbor Realty Trust | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -2.9% | -2.9% | -6.7% |
| 09302022 | TROW | T. Rowe Price | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 9.9% | 4.3% | -6.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 151.68 |
| Mkt Cap | 107.4 |
| Rev LTM | 20,453 |
| Op Inc LTM | 5,099 |
| FCF LTM | 41 |
| FCF 3Y Avg | 2,570 |
| CFO LTM | 500 |
| CFO 3Y Avg | 2,900 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.4% |
| Rev Chg 3Y Avg | 6.5% |
| Rev Chg Q | 15.3% |
| QoQ Delta Rev Chg LTM | 3.6% |
| Op Mgn LTM | 33.8% |
| Op Mgn 3Y Avg | 34.4% |
| QoQ Delta Op Mgn LTM | -0.9% |
| CFO/Rev LTM | 7.7% |
| CFO/Rev 3Y Avg | 21.9% |
| FCF/Rev LTM | 5.5% |
| FCF/Rev 3Y Avg | 18.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 107.4 |
| P/S | 3.6 |
| P/EBIT | 9.3 |
| P/E | 14.8 |
| P/CFO | 0.5 |
| Total Yield | 7.0% |
| Dividend Yield | 0.7% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 0.1 |
| Net D/E | -0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.0% |
| 3M Rtn | 7.0% |
| 6M Rtn | -2.6% |
| 12M Rtn | 16.4% |
| 3Y Rtn | 53.7% |
| 1M Excs Rtn | -5.4% |
| 3M Excs Rtn | 2.9% |
| 6M Excs Rtn | -9.6% |
| 12M Excs Rtn | 2.2% |
| 3Y Excs Rtn | -21.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Investment management services | 6,460 | ||||
| Administrative, distribution, and servicing fees | 574 | ||||
| Capital allocation-based income | -54 | ||||
| Investment advisory fees | 5,969 | 7,098 | 5,693 | 5,112 | |
| Administrative fees | 454 | 402 | 385 | ||
| Distribution and servicing fees | 120 | 111 | 120 | ||
| Total | 6,460 | 6,488 | 7,672 | 6,207 | 5,618 |
Price Behavior
| Market Price | $95.38 | |
| Market Cap ($ Bil) | 20.9 | |
| First Trading Date | 09/13/1989 | |
| Distance from 52W High | -12.5% | |
| 50 Days | 200 Days | |
| DMA Price | $102.64 | $100.32 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -7.1% | -4.9% |
| 3M | 1YR | |
| Volatility | 28.0% | 30.5% |
| Downside Capture | 200.94 | 143.21 |
| Upside Capture | 128.09 | 116.23 |
| Correlation (SPY) | 53.3% | 76.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.36 | 0.96 | 0.84 | 1.21 | 1.17 | 1.26 |
| Up Beta | 2.09 | 0.48 | 0.34 | 1.50 | 1.26 | 1.25 |
| Down Beta | 1.23 | 0.86 | 0.56 | 1.02 | 1.02 | 1.17 |
| Up Capture | 146% | 132% | 121% | 110% | 109% | 158% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 20 | 31 | 61 | 125 | 384 |
| Down Capture | 115% | 94% | 103% | 128% | 116% | 108% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 21 | 30 | 64 | 126 | 367 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TROW | |
|---|---|---|---|---|
| TROW | -7.3% | 30.4% | -0.24 | - |
| Sector ETF (XLF) | 1.6% | 19.4% | -0.04 | 76.9% |
| Equity (SPY) | 13.5% | 19.4% | 0.53 | 76.6% |
| Gold (GLD) | 74.5% | 25.6% | 2.15 | -0.4% |
| Commodities (DBC) | 7.2% | 16.9% | 0.25 | 20.9% |
| Real Estate (VNQ) | 7.1% | 16.7% | 0.24 | 56.8% |
| Bitcoin (BTCUSD) | -29.7% | 44.9% | -0.65 | 40.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TROW | |
|---|---|---|---|---|
| TROW | -6.2% | 30.7% | -0.17 | - |
| Sector ETF (XLF) | 12.6% | 18.7% | 0.54 | 70.5% |
| Equity (SPY) | 13.4% | 17.0% | 0.62 | 75.6% |
| Gold (GLD) | 22.6% | 17.1% | 1.08 | 8.9% |
| Commodities (DBC) | 10.9% | 19.0% | 0.46 | 14.8% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 60.8% |
| Bitcoin (BTCUSD) | 7.4% | 57.1% | 0.35 | 31.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TROW | |
|---|---|---|---|---|
| TROW | 7.6% | 30.0% | 0.30 | - |
| Sector ETF (XLF) | 14.7% | 22.2% | 0.61 | 73.6% |
| Equity (SPY) | 16.1% | 17.9% | 0.77 | 77.3% |
| Gold (GLD) | 14.8% | 15.6% | 0.79 | 1.3% |
| Commodities (DBC) | 8.6% | 17.6% | 0.40 | 24.0% |
| Real Estate (VNQ) | 7.0% | 20.7% | 0.30 | 58.8% |
| Bitcoin (BTCUSD) | 68.0% | 66.7% | 1.07 | 20.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/4/2026 | -5.5% | ||
| 10/31/2025 | 0.4% | 0.0% | 0.3% |
| 8/1/2025 | 1.6% | 2.6% | 6.1% |
| 5/2/2025 | 4.0% | 5.2% | 4.6% |
| 2/5/2025 | -4.2% | -5.6% | -14.4% |
| 11/1/2024 | 2.0% | 9.3% | 12.5% |
| 7/26/2024 | -3.0% | -3.0% | -5.1% |
| 4/26/2024 | 4.8% | 2.1% | 8.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 9 | 8 |
| # Negative | 8 | 5 | 6 |
| Median Positive | 3.8% | 2.1% | 5.4% |
| Median Negative | -4.3% | -3.1% | -5.9% |
| Max Positive | 8.3% | 9.3% | 12.5% |
| Max Negative | -5.5% | -5.6% | -14.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/15/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Husain, Arif | Direct | Sell | 12112025 | 101.96 | 4,260 | 434,336 | 4,802,411 | Form | |
| 2 | MacLellan, Robert F | Direct | Sell | 9232025 | 105.01 | 3,090 | 324,466 | 4,970,385 | Form | |
| 3 | Sawyer, Dorothy C | Direct | Sell | 6122025 | 95.43 | 2,000 | 190,860 | 4,274,187 | Form | |
| 4 | Hiebler, Jessica M | Principal Accounting Officer | Direct | Sell | 5132025 | 96.98 | 968 | 93,879 | 1,320,070 | Form |
| 5 | MacLellan, Robert F | Direct | Sell | 4012025 | 91.56 | 3,955 | 362,120 | 3,935,132 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.