Filing Flows › Price T Rowe Group (TROW) › Q1 2026
Price T Rowe Group (TROW) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Price T Rowe Group (TROW) reported revenue of $1.9B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -4% from the quarter before. Operating margin was 36.6%, net earnings $498M (26.8% of revenue).
Price T Rowe Group, Q1 2026: revenue $1.9B (+5% year over year), operating margin 36.6%, net earnings $498M, operating cash flow $824M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | -4% | +5% |
| Operating profit | $680M | +44% | +14% |
| Net earnings | $498M | +12% | +2% |
| Operating cash flow | $824M | — | +30% |
| Free cash flow | $762M | — | +38% |
What changed
Revenue was $1.9B in Q1 2026, up 5% year over year and down 4% from the previous quarter. Investment advisory fees was the largest line at 91% of revenue. Investment advisory fees added $0.08B year over year (up 5%), 91% of the total change. Performance-based advisory fees declined 28%.
Operating profit was $0.68B, a 36.6% margin (up 2.8 points year over year). Of the extra revenue versus Q1 2025, 90% reached operating profit, above the 34% margin then. Total costs grew 1% against revenue growth of 5%. Net earnings were $0.50B, up 2% year over year ($0.48B including minority interests, which bore $0.01B of losses). The effective tax rate was 23.4%.
Operating cash flow was $0.82B (up 30% year over year), 170% of net income including minority interests. Non-cash charges added back $0.05B of share-based compensation. Working capital and other items added $0.29B. Capital expenditures of $0.06B left free cash flow of $0.76B.
Questions
What was Price T Rowe Group's revenue in the first quarter 2026?
Price T Rowe Group (TROW) reported revenue of $1.9B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -4% from the quarter before.
Was Price T Rowe Group profitable in the first quarter 2026?
Operating profit was $680M (36.6% of revenue) and net earnings $498M.
Source: Price T Rowe Group 10-Q on SEC EDGAR.