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Price T Rowe Group (TROW) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Price T Rowe Group (TROW) Q3 2026 earnings results →
Q3 2026 Revenue up 6% year over year to $2.0B · 31¢ of every $1 of revenue kept as net profit · operating margin 38.4%
Price T Rowe Group made $2.0B in Q3 2026 (+6% Y/Y): Investment advisory fees $1.8B, Administrative, distribution, servicing, and other fees $141M, Capital allocation-based income $59.9M. Operating margin 38.4%, net earnings $612M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $2.0B in Q3 2026, up 6% year over year and up 5% from the previous quarter. Investment advisory fees was the largest line at 90% of revenue. Investment advisory fees added $0.10B year over year (up 6%), 88% of the total change. Administrative, distribution, servicing, and other fees declined 3%.
Operating profit was $0.77B, a 38.4% margin (up 4.4 points year over year). Of the extra revenue versus Q3 2025, 114% reached operating profit, above the 34% margin then. Total costs fell 1% while revenue rose 6%. Net earnings were $0.61B, down 5% year over year ($0.60B including minority interests, which bore $0.02B of losses). The effective tax rate was 24.2%.
Operating cash flow was $0.54B (down 11% year over year), 91% of net income including minority interests. Non-cash charges added back $0.05B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.07B left free cash flow of $0.47B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $2.0B | +6% | 38.4% | $612M | $543M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $1.9B | +11% | 28.3% | $632M | $517M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $1.9B | +5% | 36.6% | $498M | $824M |
| Q4 2025 | 10-K | Feb 13, 2026 | $1.9B | +6% | 24.4% | $445M | −$18.7M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $1.9B | +6% | 34.0% | $646M | $609M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $1.7B | -0.6% | 27.8% | $505M | $530M |
| Q1 2025 | 10-Q | May 2, 2025 | $1.8B | +0.8% | 33.8% | $490M | $633M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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About Price T Rowe Group
T. Rowe Price Group, Inc. (T. Rowe Price Group, T. Rowe Price, the firm, we, us, or our) is a financial services holding company that provides global investment advisory services through its subsidiaries to investors worldwide. We identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, multi-asset, and alternatives capabilities to individuals, advisors, institutions, and retirement plan sponsors.
In its own words, from its 10-K, filed Feb 13, 2026.
Price T Rowe Group against its Investment Advice peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +6%. Operating margin: 38.4% against the peers' median 24.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TROW Price T Rowe Group | Q3 2026 | $2.0B | +6% | 38.4% |
| KKR KKR | Q2 2026 | $5.7B | +12% | 24.0% |
| AMP Ameriprise Financial | Q3 2026 | $5.2B | +6% | 28.9% |
| APO Apollo Global Management | Q3 2026 | $4.7B | -52% | -30.9% |
| BX Blackstone | Q3 2026 | $3.1B | -0.8% | 46.9% |
| BEN Franklin Templeton | Q4 FY26 | $2.4B | +4% | 14.6% |
| IVZ Invesco | Q3 2026 | $1.9B | +14% | 23.3% |
| BAM Brookfield Asset Management | Q2 2026 | $1.8B | +61% | 62.4% |
| ARES Ares Management | Q3 2026 | $1.3B | +9% | 13.1% |
Source: Price T Rowe Group 10-Q on SEC EDGAR · CIK 1113169 · Investment Advice
13F: who owns TROW and who is buying
More on TROW
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Price T Rowe Group operating margin by quarter
- Price T Rowe Group net income by quarter
- Price T Rowe Group free cash flow by quarter
- Price T Rowe Group capital expenditures by quarter
- Price T Rowe Group Investment advisory fees revenue by quarter
- Price T Rowe Group Administrative, distribution, servicing, and other fees revenue by quarter
- Price T Rowe Group Capital allocation-based income revenue by quarter