Filing Flows › Price T Rowe Group (TROW) › Q4 2025
Price T Rowe Group (TROW) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
Price T Rowe Group (TROW) reported revenue of $1.9B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +2% from the quarter before. Operating margin was 24.4%, net earnings $445M (23.0% of revenue).
Price T Rowe Group, Q4 2025: revenue $1.9B (+6% year over year), operating margin 24.4%, net earnings $445M, operating cash flow −$18.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +2% | +6% |
| Operating profit | $471M | -27% | -17% |
| Net earnings | $445M | -31% | +1% |
| Operating cash flow | −$18.7M | -103% | — |
What changed
Revenue was $1.9B in Q4 2025, up 6% year over year and up 2% from the previous quarter. Investment advisory fees was the largest line at 90% of revenue.
Operating profit was $0.47B, a 24.4% margin (down 6.8 points year over year). Operating profit fell $0.10B even though revenue rose $0.11B versus a year earlier, so costs grew faster than sales. Total costs grew 16% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+19%). Net earnings were $0.45B, up 1% year over year. The effective tax rate was 24.9%. Non-operating items added $0.14B, 23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$0.02B. Non-cash charges added back $0.08B of share-based compensation. Working capital and other items used $0.56B. Capital expenditures of $0.07B exceeded it, leaving free cash flow of −$0.09B.
Questions
What was Price T Rowe Group's revenue in the fourth quarter 2025?
Price T Rowe Group (TROW) reported revenue of $1.9B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +2% from the quarter before.
Was Price T Rowe Group profitable in the fourth quarter 2025?
Operating profit was $471M (24.4% of revenue) and net earnings $445M.
Source: Price T Rowe Group 10-K on SEC EDGAR.