Filing Flows › Price T Rowe Group (TROW) › Q2 2025
Price T Rowe Group (TROW) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Price T Rowe Group (TROW) reported revenue of $1.7B for the second quarter 2025 (Q2 2025), -0.6% from a year earlier and -2% from the quarter before. Operating margin was 27.8%, net earnings $505M (29.3% of revenue).
Price T Rowe Group, Q2 2025: revenue $1.7B (-0.6% year over year), operating margin 27.8%, net earnings $505M, operating cash flow $530M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | -2% | -0.6% |
| Operating profit | $478M | -20% | -15% |
| Net earnings | $505M | +3% | +5% |
| Operating cash flow | $530M | -16% | -22% |
| Free cash flow | $468M | -15% | -19% |
What changed
Revenue was $1.7B in Q2 2025, down 1% year over year and down 2% from the previous quarter. Investment advisory fees was the largest line at 91% of revenue. Performance-based advisory fees lost $0.01B year over year (down 62%), 104% of the total change.
Operating profit was $0.48B, a 27.8% margin (down 4.8 points year over year). Total costs grew 7% against a revenue fall of 1%. Net earnings were $0.51B, up 5% year over year. The effective tax rate was 22.1%. Non-operating items added $0.24B, 33% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.53B (down 22% year over year), 95% of net income including minority interests. Non-cash charges added back $0.05B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.06B left free cash flow of $0.47B.
Questions
What was Price T Rowe Group's revenue in the second quarter 2025?
Price T Rowe Group (TROW) reported revenue of $1.7B for the second quarter 2025 (Q2 2025), -0.6% from a year earlier and -2% from the quarter before.
Was Price T Rowe Group profitable in the second quarter 2025?
Operating profit was $478M (27.8% of revenue) and net earnings $505M.
Source: Price T Rowe Group 10-Q on SEC EDGAR.