Filing Flows › Price T Rowe Group (TROW) › Q2 2026
Price T Rowe Group (TROW) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 31, 2026
Price T Rowe Group (TROW) reported revenue of $1.9B for the second quarter 2026 (Q2 2026), +11% from a year earlier and +3% from the quarter before. Operating margin was 28.3%, net earnings $632M (33.1% of revenue).
Price T Rowe Group, Q2 2026: revenue $1.9B (+11% year over year), operating margin 28.3%, net earnings $632M, operating cash flow $517M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +3% | +11% |
| Operating profit | $540M | -21% | +13% |
| Net earnings | $632M | +27% | +25% |
| Operating cash flow | $517M | -37% | -2% |
| Free cash flow | $451M | -41% | -4% |
What changed
Revenue was $1.9B in Q2 2026, up 11% year over year and up 3% from the previous quarter. Investment advisory fees was the largest line at 91% of revenue. Investment advisory fees added $0.18B year over year (up 11%), 96% of the total change. Administrative, distribution, servicing, and other fees declined 4%.
Operating profit was $0.54B, a 28.3% margin (up 0.6 points year over year). Of the extra revenue versus Q2 2025, 34% reached operating profit, above the 28% margin then. Total costs grew 10% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $0.63B, up 25% year over year. The effective tax rate was 23.5%. Non-operating items added $0.37B, 41% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.52B (down 2% year over year), 74% of net income including minority interests. Non-cash charges added back $0.04B of share-based compensation. Working capital and other items used $0.22B. Capital expenditures of $0.07B left free cash flow of $0.45B.
Questions
What was Price T Rowe Group's revenue in the second quarter 2026?
Price T Rowe Group (TROW) reported revenue of $1.9B for the second quarter 2026 (Q2 2026), +11% from a year earlier and +3% from the quarter before.
Was Price T Rowe Group profitable in the second quarter 2026?
Operating profit was $540M (28.3% of revenue) and net earnings $632M.
Source: Price T Rowe Group 10-Q on SEC EDGAR.