T. Rowe Price Group (TROW) Financials

$88.44 -1.08 (-1.21%)

Closing price 04:00 PM Eastern

Extended Trading

$88.11 -0.33 (-0.37%)

As of 05:10 PM Eastern

Annual Income Statements for T. Rowe Price Group

This table shows T. Rowe Price Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,223	1,215	1,498	1,838	2,131	2,373	3,083	1,558	1,789	2,100
Consolidated Net Income / (Loss)	1,223	1,254	1,581	1,769	2,249	2,523	3,099	1,450	1,836	2,136
Net Income / (Loss) Continuing Operations	1,223	1,254	1,581	1,769	2,249	2,523	3,099	1,450	1,836	2,136
Total Pre-Tax Income	2,002	1,961	2,505	2,385	2,927	3,242	3,995	1,948	2,490	2,820
Total Operating Income	1,899	1,733	2,109	2,361	2,387	2,746	3,710	2,374	1,986	2,333
Total Gross Profit	2,757	2,791	3,190	3,564	3,649	4,024	5,289	4,168	3,787	4,336
Total Revenue	4,201	4,285	4,855	5,373	5,618	6,207	7,672	6,488	6,461	7,094
Operating Revenue	4,201	4,285	4,855	5,373	5,618	6,207	7,672	6,488	6,461	7,094
Total Cost of Revenue	1,444	1,494	1,665	1,809	1,969	2,182	2,383	2,321	2,674	2,758
Operating Cost of Revenue	1,444	1,494	1,665	1,809	1,969	2,182	2,383	2,321	2,674	2,758
Total Operating Expenses	858	1,057	1,081	1,218	1,262	1,279	1,579	1,794	1,801	2,002
Selling, General & Admin Expense	341	218	280	296	322	316	384	412	421	434
Marketing Expense	80	80	92	100	97	84	100	97	114	130
Amortization Expense	-	-	-	-	-	-	0.00	284	134	157
Other Operating Expenses / (Income)	311	759	709	822	843	879	1,095	1,162	1,214	1,296
Other Special Charges / (Income)	-	-	-	-	-	-	0.00	-161	-82	-13
Total Other Income / (Expense), net	104	227	396	23	540	497	285	-426	504	486
Other Income / (Expense), net	104	227	396	23	540	497	285	-426	504	486
Income Tax Expense	779	707	924	616	678	719	896	499	655	684
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	39	83	-69	118	151	16	-108	47	36
Basic Earnings per Share	$4.74	$4.85	$6.07	$7.41	$8.82	$10.08	$13.25	$6.73	$7.78	$9.18
Weighted Average Basic Shares Outstanding	248.18M	243.42M	244.44M	236.26M	236.04M	227.95M	228.09M	224.40M	223.66M	222.63M
Diluted Earnings per Share	$4.63	$4.75	$5.97	$7.27	$8.70	$9.98	$13.12	$6.70	$7.76	$9.15
Weighted Average Diluted Shares Outstanding	248.18M	243.42M	244.44M	236.26M	236.04M	227.95M	228.09M	224.40M	223.66M	222.63M
Weighted Average Basic & Diluted Shares Outstanding	248.18M	243.42M	244.44M	236.26M	236.04M	227.95M	228.09M	224.40M	223.66M	222.63M
Cash Dividends to Common per Share	-	$2.16	$2.28	$2.80	$3.04	$3.60	$4.32	$4.80	$4.88	$4.96

This table shows T. Rowe Price Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	384	266	422	476	453	438	574	483	603	440
Consolidated Net Income / (Loss)	358	290	442	481	439	474	593	485	640	417
Net Income / (Loss) Continuing Operations	358	290	468	481	439	448	593	485	640	417
Total Pre-Tax Income	492	389	620	640	584	647	776	645	826	573
Total Operating Income	575	253	484	534	581	387	587	565	614	568
Total Gross Profit	1,000	837	884	962	1,034	907	1,041	1,072	1,107	1,115
Total Revenue	1,588	1,524	1,538	1,610	1,671	1,642	1,750	1,733	1,786	1,825
Operating Revenue	1,588	1,524	1,538	1,610	1,671	1,642	1,750	1,733	1,786	1,825
Total Cost of Revenue	588	688	654	648	636	735	709	661	678	710
Operating Cost of Revenue	588	688	654	648	636	735	709	661	678	710
Total Operating Expenses	426	583	374	429	453	545	455	508	494	547
Selling, General & Admin Expense	115	102	108	100	86	128	93	109	104	128
Marketing Expense	24	28	26	23	21	44	25	33	21	50
Amortization Expense	27	202	0.00	29	39	67	30	44	52	31
Other Operating Expenses / (Income)	289	287	290	300	308	315	307	322	331	337
Total Other Income / (Expense), net	-83	136	135	106	2.80	260	189	80	213	4.60
Other Income / (Expense), net	-83	136	135	106	2.80	260	189	80	213	4.60
Income Tax Expense	134	99	178	159	145	173	182	160	186	156
Net Income / (Loss) Attributable to Noncontrolling Interest	-27	24	20	4.80	-14	36	20	1.90	37	-23
Basic Earnings per Share	$1.67	$1.16	$1.83	$2.07	$1.98	$1.90	$2.50	$2.11	$2.64	$1.93
Weighted Average Basic Shares Outstanding	223.46M	224.40M	224.57M	224.30M	223.47M	223.66M	223.30M	222.60M	222.16M	222.63M
Diluted Earnings per Share	$1.66	$1.17	$1.83	$2.06	$1.97	$1.90	$2.49	$2.11	$2.64	$1.91
Weighted Average Diluted Shares Outstanding	223.46M	224.40M	224.57M	224.30M	223.47M	223.66M	223.30M	222.60M	222.16M	222.63M
Weighted Average Basic & Diluted Shares Outstanding	223.46M	224.40M	224.57M	224.30M	223.47M	223.66M	223.30M	222.60M	222.16M	222.63M

This table details how cash moves in and out of T. Rowe Price Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-334	98	735	-511	363	398	-632	251	269	569
Net Cash From Operating Activities	1,531	171	230	1,620	1,523	1,919	3,452	2,359	1,219	1,686
Net Cash From Continuing Operating Activities	1,531	171	230	1,620	1,523	1,919	3,452	2,359	1,219	1,686
Net Income / (Loss) Continuing Operations	1,223	1,254	1,581	1,769	2,249	2,523	3,099	1,450	1,836	2,136
Consolidated Net Income / (Loss)	1,223	1,254	1,581	1,769	2,249	2,523	3,099	1,450	1,836	2,136
Depreciation Expense	126	133	144	160	191	190	205	226	255	254
Amortization Expense	-	-	-	-	-	0.00	0.00	420	227	250
Non-Cash Adjustments To Reconcile Net Income	79	-1,220	1,583	555	-1,027	-885	81	584	-1,266	-853
Changes in Operating Assets and Liabilities, net	102	3.40	-221	-112	110	91	67	-320	167	-101
Net Cash From Investing Activities	109	106	39	-876	-325	-36	-1,098	-42	128	-178
Net Cash From Continuing Investing Activities	109	106	39	-876	-325	-36	-1,098	-42	128	-178
Purchase of Property, Plant & Equipment	-151	-148	186	169	-205	-215	-239	-238	-308	-423
Acquisitions	-	-	-	-	0.00	0.00	-2,451	-8.70	-57	-16
Purchase of Investments	-165	-0.30	40	1,124	-240	-272	-48	-55	-85	-100
Sale and/or Maturity of Investments	435	219	337	352	131	454	1,626	264	617	533
Other Investing Activities, net	-9.40	36	-57	-112	-12	-3.40	14	-3.70	-38	-172
Net Cash From Financing Activities	-1,973	-176	462	-1,240	-833	-1,486	-2,989	-2,077	-1,079	-937
Net Cash From Continuing Financing Activities	-1,973	-176	462	-1,240	-833	-1,486	-2,989	-2,077	-1,079	-937
Repurchase of Common Equity	-988	-677	458	1,090	-706	-1,202	-1,139	-850	-254	-337
Payment of Dividends	-1,059	374	563	694	-210	-846	-1,702	-1,107	-1,122	-1,136
Issuance of Common Equity	-	-	1,483	545	83	3.90	-82	-36	-18	-33
Other Financing Activities, net	74	126	-	-	-	558	-67	-84	316	570
Effect of Exchange Rate Changes	0.00	-2.10	-	-	-2.50	1.90	2.60	9.50	0.40	-2.40

This table details how cash moves in and out of T. Rowe Price Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	257	-570	312	140	344	-527	360	285	440	-516
Net Cash From Operating Activities	768	-135	512	395	470	-157	637	678	653	-282
Net Cash From Continuing Operating Activities	768	-135	512	395	470	-157	637	678	653	-282
Net Income / (Loss) Continuing Operations	358	290	442	481	439	474	593	485	640	417
Consolidated Net Income / (Loss)	358	290	442	481	439	474	593	485	640	417
Depreciation Expense	57	60	59	59	64	73	63	64	62	66
Amortization Expense	52	262	48	50	68	61	51	73	72	54
Non-Cash Adjustments To Reconcile Net Income	147	-311	-226	-271	-313	-456	-232	-72	-354	-195
Changes in Operating Assets and Liabilities, net	154	-435	189	75	212	-309	162	127	232	-623
Net Cash From Investing Activities	-44	28	-58	-78	174	90	-8.60	-85	-62	-23
Net Cash From Continuing Investing Activities	-44	28	-58	-78	174	90	-8.60	-85	-62	-23
Purchase of Property, Plant & Equipment	-54	-60	-61	-72	-94	-82	-103	-103	-105	-113
Acquisitions	4.80	-	-2.50	-15	-18	-21	-0.10	-13	-2.60	-0.10
Purchase of Investments	-17	-7.40	-8.40	-19	-8.50	-50	-4.50	-39	-46	-11
Sale and/or Maturity of Investments	19	103	15	59	297	246	96	115	92	230
Other Investing Activities, net	2.90	-7.00	-0.60	-32	-3.00	-3.20	2.80	-45	-0.70	-129
Net Cash From Financing Activities	-486	-460	-144	-176	-297	-461	-268	-308	-153	-208
Net Cash From Continuing Financing Activities	-486	-460	-144	-176	-297	-461	-268	-308	-153	-208
Repurchase of Common Equity	-218	-122	-8.20	-42	-91	-113	-83	-112	-74	-68
Payment of Dividends	-276	-275	-282	-280	-280	-280	-287	-283	-281	-285
Issuance of Common Equity	6.00	-50	8.00	4.10	13	-44	14	2.10	12	-61
Other Financing Activities, net	2.00	-13	138	143	60	-25	88	86	190	206
Effect of Exchange Rate Changes	19	-2.30	1.50	-0.60	-2.70	2.20	-0.80	-0.30	1.60	-2.90

This table presents T. Rowe Price Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	5,107	6,225	7,535	7,689	9,330	10,659	12,509	11,643	12,279	13,472
Total Current Assets	1,618	1,660	2,468	1,975	2,428	3,015	2,581	2,504	2,875	3,527
Cash & Equivalents	1,172	1,205	1,903	1,425	1,782	2,152	1,523	1,756	2,067	2,650
Accounts Receivable	446	455	565	550	647	863	1,058	749	808	877
Plant, Property, & Equipment, net	607	615	652	661	674	695	736	756	807	977
Total Noncurrent Assets	2,882	3,950	4,415	5,053	6,228	6,949	9,191	8,383	8,598	8,968
Long-Term Investments	58	1,681	2,048	1,680	2,277	2,696	1,963	1,603	1,959	2,044
Goodwill	666	666	666	666	666	666	2,693	2,643	2,643	2,643
Intangible Assets	-	-	-	-	-	0.00	913	630	507	368
Other Noncurrent Operating Assets	2,158	1,604	1,701	2,707	3,285	3,588	3,622	3,507	3,488	3,913
Total Liabilities & Shareholders' Equity	5,107	6,225	7,535	7,689	9,330	10,659	12,509	11,643	12,279	13,472
Total Liabilities	345	529	718	825	1,107	1,390	2,255	1,956	1,988	2,022
Total Current Liabilities	192	220	285	283	246	273	509	453	489	441
Accounts Payable	171	181	216	229	215	188	431	407	423	354
Current Deferred & Payable Income Tax Liabilities	21	39	68	54	32	85	78	46	66	87
Total Noncurrent Liabilities	153	309	434	542	861	1,118	1,746	1,504	1,499	1,581
Noncurrent Employee Benefit Liabilities	153	93	109	123	112	134	257	228	241	220
Other Noncurrent Operating Liabilities	0.00	217	325	419	749	984	1,490	1,276	1,258	1,362
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	687	993	740	1,121	1,562	982	657	594	944
Total Equity & Noncontrolling Interests	4,762	5,009	5,824	6,124	7,102	7,707	9,271	9,030	9,697	10,506
Total Preferred & Common Equity	4,762	5,009	5,824	6,124	7,102	7,707	9,023	8,840	9,505	10,345
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	4,762	5,009	5,824	6,124	7,102	7,707	9,023	8,840	9,505	10,345
Common Stock	705	704	895	702	702	700	966	483	477	357
Retained Earnings	3,971	4,294	4,933	5,464	6,444	7,030	8,084	8,410	9,076	10,041
Accumulated Other Comprehensive Income / (Loss)	87	12	-3.60	-42	-43	-23	-27	-53	-48	-52
Noncontrolling Interest	-	-	-	-	-	0.00	249	191	192	161

This table presents T. Rowe Price Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	11,993	11,643	12,157	12,621	12,557	12,279	12,854	13,090	13,706	13,472
Total Current Assets	3,108	2,504	2,825	3,011	3,331	2,875	3,300	3,562	4,064	3,527
Cash & Equivalents	2,366	1,756	2,094	2,250	2,579	2,067	2,417	2,715	3,174	2,650
Accounts Receivable	741	749	730	761	752	808	883	847	890	877
Plant, Property, & Equipment, net	753	756	762	771	799	807	846	885	930	977
Total Noncurrent Assets	8,133	8,383	8,570	8,839	8,427	8,598	8,708	8,644	8,712	8,968
Long-Term Investments	1,284	1,603	1,821	1,946	1,778	1,959	2,117	1,930	1,857	2,044
Goodwill	2,652	2,643	2,643	2,643	2,643	2,643	2,643	2,643	2,643	2,643
Intangible Assets	832	630	604	577	542	507	482	442	395	368
Other Noncurrent Operating Assets	3,364	3,507	3,502	3,673	3,464	3,488	3,466	3,629	3,817	3,913
Total Liabilities & Shareholders' Equity	11,993	11,643	12,157	12,621	12,557	12,279	12,854	13,090	13,706	13,472
Total Liabilities	2,298	1,956	2,083	2,170	2,375	1,988	2,188	2,267	2,490	2,022
Total Current Liabilities	421	453	510	424	438	489	543	381	372	441
Accounts Payable	383	407	360	381	395	423	366	367	359	354
Current Deferred & Payable Income Tax Liabilities	38	46	150	42	42	66	177	14	13	87
Total Noncurrent Liabilities	1,877	1,504	1,573	1,747	1,938	1,499	1,645	1,886	2,117	1,581
Noncurrent Employee Benefit Liabilities	701	228	306	511	735	241	331	567	802	220
Other Noncurrent Operating Liabilities	1,176	1,276	1,267	1,235	1,203	1,258	1,314	1,320	1,316	1,362
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	581	657	834	985	560	594	677	689	763	944
Total Equity & Noncontrolling Interests	9,115	9,030	9,240	9,466	9,621	9,697	9,990	10,134	10,453	10,506
Total Preferred & Common Equity	8,908	8,840	9,045	9,264	9,400	9,505	9,784	9,929	10,249	10,345
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	8,908	8,840	9,045	9,264	9,400	9,505	9,784	9,929	10,249	10,345
Common Stock	544	483	547	565	527	477	469	413	404	357
Retained Earnings	8,420	8,410	8,550	8,746	8,919	9,076	9,365	9,565	9,885	10,041
Accumulated Other Comprehensive Income / (Loss)	-57	-53	-52	-48	-46	-48	-50	-49	-40	-52
Noncontrolling Interest	207	191	194	202	222	192	205	205	203	161

This table displays calculated financial ratios and metrics derived from T. Rowe Price Group's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.49%	2.00%	13.31%	10.66%	4.57%	10.48%	23.61%	-15.43%	-0.43%	9.80%
EBITDA Growth	6.30%	-1.63%	26.50%	-3.95%	22.56%	10.06%	22.37%	-38.23%	14.57%	11.84%
EBIT Growth	5.90%	-2.09%	27.78%	-4.81%	22.76%	10.76%	23.21%	-51.23%	27.83%	13.22%
NOPAT Growth	-0.08%	-4.40%	20.05%	31.59%	4.70%	16.53%	34.67%	-38.63%	-17.10%	20.72%
Net Income Growth	-0.54%	2.53%	26.09%	11.86%	27.15%	12.20%	22.80%	-53.22%	26.63%	16.35%
EPS Growth	1.76%	2.59%	25.68%	21.78%	19.67%	14.71%	31.46%	-48.93%	15.82%	17.91%
Operating Cash Flow Growth	18.52%	-88.86%	34.60%	605.84%	-6.00%	26.02%	79.89%	-31.65%	-48.33%	38.27%
Free Cash Flow Firm Growth	-173.25%	336.05%	-30.32%	-32.68%	66.37%	31.60%	-71.73%	315.12%	-30.80%	-16.39%
Invested Capital Growth	121.19%	-20.43%	1.98%	31.15%	10.78%	6.17%	53.07%	-6.50%	-0.99%	7.84%
Revenue Q/Q Growth	-3.61%	4.62%	1.17%	0.14%	3.00%	4.45%	3.07%	-6.32%	1.86%	2.64%
EBITDA Q/Q Growth	4.01%	2.93%	10.24%	-15.36%	13.65%	12.53%	-5.09%	-8.99%	2.45%	-2.61%
EBIT Q/Q Growth	4.08%	3.05%	10.73%	-16.45%	14.02%	13.90%	-5.52%	-21.19%	11.56%	-2.55%
NOPAT Q/Q Growth	-1.32%	7.94%	-3.94%	8.25%	4.01%	8.19%	2.49%	-22.71%	6.83%	8.37%
Net Income Q/Q Growth	-1.03%	5.34%	105.08%	-33.85%	16.70%	15.35%	-5.95%	-23.45%	11.14%	-2.60%
EPS Q/Q Growth	0.43%	6.74%	95.10%	-29.07%	10.13%	11.88%	-0.83%	-23.08%	10.38%	0.11%
Operating Cash Flow Q/Q Growth	4.20%	-57.91%	-10.04%	18.84%	-6.82%	-1.03%	11.62%	-17.39%	-1.79%	-6.88%
Free Cash Flow Firm Q/Q Growth	-170.82%	2,481.45%	0.58%	2.75%	-10.37%	13.30%	-80.34%	1,432.95%	-4.01%	0.50%
Invested Capital Q/Q Growth	169.91%	16.49%	13.27%	13.47%	19.59%	16.41%	73.38%	4.69%	7.57%	9.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.63%	65.13%	65.71%	66.34%	64.95%	64.84%	68.94%	64.23%	58.62%	61.12%
EBITDA Margin	50.68%	48.87%	54.56%	47.35%	55.50%	55.29%	54.74%	39.98%	46.00%	46.86%
Operating Margin	45.21%	40.45%	43.44%	43.95%	42.49%	44.24%	48.36%	36.58%	30.74%	32.89%
EBIT Margin	47.67%	45.75%	51.60%	44.38%	52.11%	52.24%	52.07%	30.03%	38.55%	39.75%
Profit (Net Income) Margin	29.11%	29.27%	32.57%	32.92%	40.03%	40.65%	40.39%	22.34%	28.41%	30.11%
Tax Burden Percent	61.08%	63.96%	63.12%	74.17%	76.83%	77.83%	77.57%	74.41%	73.71%	75.75%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	38.92%	36.04%	36.88%	25.83%	23.17%	22.17%	22.43%	25.59%	26.29%	24.25%
Return on Invested Capital (ROIC)	45.23%	34.96%	46.90%	52.87%	46.29%	49.78%	51.44%	26.97%	23.25%	27.15%
ROIC Less NNEP Spread (ROIC-NNEP)	42.71%	27.90%	39.58%	52.39%	34.70%	41.10%	46.14%	36.22%	13.19%	18.70%
Return on Net Nonoperating Assets (RNNOA)	-21.15%	-10.98%	-21.62%	-27.02%	-16.48%	-20.93%	-19.69%	-12.43%	-4.88%	-7.50%
Return on Equity (ROE)	24.08%	23.98%	25.27%	25.85%	29.81%	28.85%	31.74%	14.54%	18.38%	19.65%
Cash Return on Invested Capital (CROIC)	-30.24%	57.72%	44.93%	25.92%	36.06%	43.79%	9.50%	33.69%	24.25%	19.60%
Operating Return on Assets (OROA)	37.25%	34.60%	36.41%	31.33%	34.40%	32.44%	34.48%	16.13%	20.82%	21.90%
Return on Assets (ROA)	22.75%	22.13%	22.98%	23.23%	26.43%	25.25%	26.75%	12.00%	15.35%	16.59%
Return on Common Equity (ROCE)	24.08%	22.41%	21.88%	22.58%	26.13%	24.43%	27.20%	13.02%	16.87%	17.94%
Return on Equity Simple (ROE_SIMPLE)	25.68%	25.04%	27.15%	28.88%	31.67%	32.74%	34.34%	16.40%	19.31%	20.64%
Net Operating Profit after Tax (NOPAT)	1,160	1,109	1,331	1,751	1,834	2,137	2,878	1,766	1,464	1,767
NOPAT Margin	27.61%	25.88%	27.42%	32.60%	32.64%	34.43%	37.51%	27.22%	22.66%	24.92%
Net Nonoperating Expense Percent (NNEP)	2.51%	7.06%	7.32%	0.49%	11.59%	8.68%	5.30%	-9.25%	10.06%	8.45%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	19.56%	15.10%	16.82%
Cost of Revenue to Revenue	34.37%	34.87%	34.29%	33.66%	35.05%	35.16%	31.06%	35.77%	41.38%	38.88%
SG&A Expenses to Revenue	8.13%	5.09%	5.76%	5.51%	5.73%	5.09%	5.00%	6.35%	6.52%	6.12%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.43%	24.68%	22.27%	22.67%	22.46%	20.60%	20.58%	27.65%	27.87%	28.23%
Earnings before Interest and Taxes (EBIT)	2,002	1,961	2,505	2,385	2,927	3,242	3,995	1,948	2,490	2,820
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,129	2,094	2,649	2,544	3,118	3,432	4,199	2,594	2,972	3,324
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.86	2.86	3.51	2.99	3.40	3.89	4.45	2.52	2.42	2.43
Price to Tangible Book Value (P/TBV)	3.33	3.30	3.96	3.36	3.75	4.25	7.41	4.00	3.63	3.43
Price to Revenue (P/Rev)	3.24	3.34	4.21	3.41	4.30	4.83	5.23	3.44	3.57	3.54
Price to Earnings (P/E)	11.14	11.79	13.65	9.97	11.32	12.63	13.01	14.31	12.88	11.96
Dividend Yield	7.52%	3.67%	2.70%	3.68%	2.94%	2.72%	4.10%	4.81%	4.73%	4.39%
Earnings Yield	8.98%	8.48%	7.33%	10.03%	8.83%	7.92%	7.68%	6.99%	7.76%	8.36%
Enterprise Value to Invested Capital (EV/IC)	3.51	4.32	6.10	4.25	5.09	6.03	5.59	3.13	3.16	3.19
Enterprise Value to Revenue (EV/Rev)	2.95	2.83	3.60	2.97	3.77	4.30	4.94	3.05	3.07	3.04
Enterprise Value to EBITDA (EV/EBITDA)	5.82	5.79	6.60	6.27	6.80	7.77	9.02	7.63	6.66	6.48
Enterprise Value to EBIT (EV/EBIT)	6.19	6.19	6.98	6.69	7.24	8.23	9.48	10.15	7.95	7.64
Enterprise Value to NOPAT (EV/NOPAT)	10.69	10.94	13.14	9.11	11.56	12.48	13.16	11.20	13.52	12.18
Enterprise Value to Operating Cash Flow (EV/OCF)	8.10	71.14	76.21	9.85	13.92	13.90	10.97	8.38	16.24	12.78
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	6.63	13.71	18.59	14.84	14.19	71.25	8.97	12.97	16.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.50	-0.39	-0.55	-0.52	-0.47	-0.51	-0.43	-0.34	-0.37	-0.40
Leverage Ratio	1.06	1.08	1.10	1.11	1.13	1.14	1.19	1.21	1.20	1.18
Compound Leverage Factor	1.06	1.08	1.10	1.11	1.13	1.14	1.19	1.21	1.20	1.18
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	12.07%	14.56%	10.78%	13.63%	16.85%	12.01%	8.75%	7.64%	9.65%
Common Equity to Total Capital	100.00%	87.94%	85.44%	89.22%	86.37%	83.15%	87.99%	91.25%	92.36%	90.35%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	27.24	19.21	20.09	16.32	15.96	15.75	13.44	9.17	9.42	9.99
Noncontrolling Interest Sharing Ratio	0.00%	6.57%	13.43%	12.67%	12.34%	15.34%	14.31%	10.42%	8.18%	8.70%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.44	7.54	8.67	6.99	9.86	11.06	5.07	5.53	5.88	8.01
Quick Ratio	8.44	7.54	8.67	6.99	9.86	11.06	5.07	5.53	5.88	8.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-775	1,830	1,275	859	1,428	1,880	531	2,206	1,527	1,276
Operating Cash Flow to CapEx	1,011.57%	114.97%	0.00%	0.00%	744.23%	894.18%	1,443.75%	993.01%	395.94%	398.11%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.76	0.71	0.71	0.66	0.62	0.66	0.54	0.54	0.55
Accounts Receivable Turnover	9.45	9.51	9.52	9.64	9.39	8.22	7.99	7.18	8.30	8.42
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.04	7.01	7.66	8.18	8.41	9.06	10.72	8.70	8.27	7.95
Accounts Payable Turnover	9.19	8.50	8.39	8.13	8.89	10.85	7.70	5.54	6.45	7.10
Days Sales Outstanding (DSO)	38.62	38.38	38.36	37.87	38.86	44.39	45.71	50.83	43.97	43.36
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	39.70	42.93	43.52	44.87	41.06	33.63	47.38	65.87	56.63	51.38
Cash Conversion Cycle (CCC)	-1.08	-4.55	-5.16	-7.00	-2.20	10.76	-1.68	-15.05	-12.66	-8.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,532	2,810	2,866	3,759	4,164	4,422	6,768	6,328	6,265	6,756
Invested Capital Turnover	1.64	1.35	1.71	1.62	1.42	1.45	1.37	0.99	1.03	1.09
Increase / (Decrease) in Invested Capital	1,935	-722	56	893	405	257	2,346	-440	-63	491
Enterprise Value (EV)	12,394	12,129	17,489	15,963	21,196	26,674	37,863	19,782	19,801	21,535
Market Capitalization	13,624	14,327	20,448	18,328	24,134	29,960	40,118	22,293	23,041	25,124
Book Value per Share	$18.96	$20.57	$24.04	$25.45	$30.39	$34.04	$40.15	$39.56	$42.53	$46.57
Tangible Book Value per Share	$16.31	$17.84	$21.29	$22.68	$27.54	$31.10	$24.10	$24.91	$28.44	$33.01
Total Capital	4,762	5,696	6,817	6,865	8,223	9,269	10,254	9,687	10,291	11,450
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,230	-2,885	-3,951	-3,106	-4,059	-4,847	-3,486	-3,359	-4,026	-4,694
Capital Expenditures (CapEx)	151	148	-186	-169	205	215	239	238	308	423
Debt-free, Cash-free Net Working Capital (DFCFNWC)	254	235	281	267	400	590	549	296	319	437
Debt-free Net Working Capital (DFNWC)	1,427	1,440	2,184	1,692	2,182	2,742	2,073	2,052	2,385	3,087
Net Working Capital (NWC)	1,427	1,440	2,184	1,692	2,182	2,742	2,073	2,052	2,385	3,087
Net Nonoperating Expense (NNE)	-63	-145	-250	-17	-415	-386	-221	317	-372	-368
Net Nonoperating Obligations (NNO)	-1,230	-2,885	-3,951	-3,106	-4,059	-4,847	-3,486	-3,359	-4,026	-4,694
Total Depreciation and Amortization (D&A)	126	133	144	160	191	190	205	646	482	504
Debt-free, Cash-free Net Working Capital to Revenue	6.05%	5.48%	5.78%	4.97%	7.13%	9.51%	7.16%	4.56%	4.93%	6.16%
Debt-free Net Working Capital to Revenue	33.96%	33.60%	44.98%	31.50%	38.84%	44.18%	27.01%	31.62%	36.92%	43.51%
Net Working Capital to Revenue	33.96%	33.60%	44.98%	31.50%	38.84%	44.18%	27.01%	31.62%	36.92%	43.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.74	$0.00	$6.07	$7.41	$8.82	$10.08	$13.25	$6.73	$7.78	$9.18
Adjusted Weighted Average Basic Shares Outstanding	248.18M	0.00	244.44M	236.26M	236.04M	227.95M	228.09M	224.40M	223.66M	222.63M
Adjusted Diluted Earnings per Share	$4.63	$0.00	$5.97	$7.27	$8.70	$9.98	$13.12	$6.70	$7.76	$9.15
Adjusted Weighted Average Diluted Shares Outstanding	248.18M	0.00	244.44M	236.26M	236.04M	227.95M	228.09M	224.40M	223.66M	222.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	248.18M	0.00	244.44M	236.26M	236.04M	227.95M	228.09M	224.40M	223.66M	222.63M
Normalized Net Operating Profit after Tax (NOPAT)	1,160	1,109	1,331	1,751	1,834	2,137	2,878	1,646	1,403	1,757
Normalized NOPAT Margin	27.61%	25.88%	27.42%	32.60%	32.64%	34.43%	37.51%	25.37%	21.72%	24.77%
Pre Tax Income Margin	47.67%	45.75%	51.60%	44.38%	52.11%	52.24%	52.07%	30.03%	38.55%	39.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	86.59%	-29.84%	-35.61%	-39.25%	9.35%	33.52%	54.93%	76.39%	61.10%	53.17%
Augmented Payout Ratio	167.36%	24.14%	-64.58%	-100.90%	40.73%	81.15%	91.67%	135.02%	74.96%	68.96%

This table displays calculated financial ratios and metrics derived from T. Rowe Price Group's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-18.72%	-22.30%	-17.47%	6.42%	5.19%	7.73%	13.83%	7.65%	6.88%	11.11%
EBITDA Growth	-42.08%	-26.50%	-7.71%	50.85%	19.19%	10.01%	22.34%	4.48%	34.26%	-11.39%
EBIT Growth	-50.06%	-57.40%	-8.73%	64.57%	18.77%	66.38%	25.16%	0.83%	41.43%	-11.42%
NOPAT Growth	-45.44%	-72.81%	-48.08%	-18.93%	4.56%	50.36%	30.04%	5.87%	8.83%	45.82%
Net Income Growth	-52.76%	-60.52%	-14.13%	67.20%	22.75%	63.54%	34.34%	0.85%	45.81%	-12.01%
EPS Growth	-49.85%	-63.21%	-24.07%	41.10%	18.67%	62.39%	36.07%	2.43%	34.01%	0.53%
Operating Cash Flow Growth	-40.44%	-137.42%	-53.63%	-36.69%	-38.77%	-16.42%	24.55%	71.66%	38.83%	-79.10%
Free Cash Flow Firm Growth	-360.71%	138.02%	141.72%	130.11%	138.14%	-44.93%	-26.61%	8.96%	-82.52%	-122.44%
Invested Capital Growth	54.85%	-6.50%	-4.68%	-0.94%	-3.64%	-0.99%	-0.43%	-1.23%	6.19%	7.84%
Revenue Q/Q Growth	4.97%	-4.03%	0.88%	4.72%	3.76%	-1.72%	6.59%	-0.97%	3.02%	2.18%
EBITDA Q/Q Growth	20.98%	18.31%	2.31%	3.01%	-4.41%	9.20%	13.77%	-12.03%	22.84%	-27.93%
EBIT Q/Q Growth	26.52%	-20.94%	59.36%	3.24%	-8.69%	10.75%	19.88%	-16.83%	28.08%	-30.64%
NOPAT Q/Q Growth	-15.55%	-54.90%	83.09%	16.26%	8.92%	-35.15%	58.34%	-5.34%	11.95%	-13.10%
Net Income Q/Q Growth	24.32%	-19.06%	52.52%	8.94%	-8.73%	7.83%	25.30%	-18.22%	31.96%	-34.93%
EPS Q/Q Growth	13.70%	-29.52%	56.41%	12.57%	-4.37%	-3.55%	31.05%	-15.26%	25.12%	-27.65%
Operating Cash Flow Q/Q Growth	23.09%	-117.61%	478.48%	-22.85%	19.05%	-133.49%	504.89%	6.34%	-3.72%	-143.20%
Free Cash Flow Firm Q/Q Growth	-12.70%	136.47%	3.05%	-28.90%	42.74%	-47.34%	37.33%	5.56%	-77.10%	-167.60%
Invested Capital Q/Q Growth	-4.27%	4.69%	-2.67%	1.57%	-6.89%	7.57%	-2.12%	0.75%	0.11%	9.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.97%	54.88%	57.50%	59.74%	61.91%	55.21%	59.49%	61.86%	62.01%	61.11%
EBITDA Margin	37.80%	46.59%	47.26%	46.48%	42.83%	47.58%	50.79%	45.12%	53.80%	37.94%
Operating Margin	36.18%	16.61%	31.49%	33.13%	34.79%	23.58%	33.52%	32.58%	34.36%	31.15%
EBIT Margin	30.97%	25.51%	40.30%	39.73%	34.96%	39.40%	44.31%	37.21%	46.26%	31.41%
Profit (Net Income) Margin	22.53%	19.00%	28.73%	29.88%	26.29%	28.84%	33.90%	28.00%	35.86%	22.84%
Tax Burden Percent	72.75%	74.49%	71.29%	75.22%	75.19%	73.21%	76.52%	75.24%	77.52%	72.72%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	27.25%	25.51%	28.71%	24.78%	24.81%	26.79%	23.48%	24.76%	22.48%	27.28%
Return on Invested Capital (ROIC)	36.65%	12.26%	21.93%	24.83%	27.96%	17.71%	27.85%	26.80%	30.66%	24.68%
ROIC Less NNEP Spread (ROIC-NNEP)	37.97%	9.30%	19.38%	22.73%	27.91%	12.56%	24.43%	25.43%	27.15%	24.61%
Return on Net Nonoperating Assets (RNNOA)	-18.14%	-3.19%	-7.27%	-8.58%	-11.24%	-4.64%	-9.95%	-10.57%	-11.91%	-9.87%
Return on Equity (ROE)	18.51%	9.06%	14.66%	16.25%	16.72%	13.07%	17.90%	16.23%	18.75%	14.81%
Cash Return on Invested Capital (CROIC)	2.89%	33.69%	27.67%	22.49%	26.80%	24.25%	25.95%	26.85%	21.15%	19.60%
Operating Return on Assets (OROA)	18.30%	13.71%	20.27%	20.39%	18.07%	21.28%	23.64%	19.67%	24.35%	17.30%
Return on Assets (ROA)	13.31%	10.21%	14.45%	15.34%	13.58%	15.58%	18.09%	14.80%	18.88%	12.58%
Return on Common Equity (ROCE)	16.69%	8.12%	13.14%	14.67%	15.40%	12.00%	16.25%	14.64%	17.22%	13.53%
Return on Equity Simple (ROE_SIMPLE)	21.26%	0.00%	15.22%	16.95%	17.57%	0.00%	20.31%	20.06%	21.39%	0.00%
Net Operating Profit after Tax (NOPAT)	418	189	345	401	437	283	449	425	476	413
NOPAT Margin	26.32%	12.37%	22.45%	24.92%	26.16%	17.26%	25.65%	24.51%	26.64%	22.66%
Net Nonoperating Expense Percent (NNEP)	-1.32%	2.95%	2.55%	2.10%	0.05%	5.15%	3.42%	1.37%	3.51%	0.08%
Return On Investment Capital (ROIC_SIMPLE)	-	2.09%	-	-	-	2.92%	-	-	-	3.93%
Cost of Revenue to Revenue	37.03%	45.12%	42.50%	40.26%	38.09%	44.79%	40.51%	38.14%	37.99%	38.89%
SG&A Expenses to Revenue	7.23%	6.70%	6.99%	6.21%	5.13%	7.80%	5.29%	6.27%	5.84%	7.03%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.79%	38.28%	24.32%	26.61%	27.11%	33.22%	25.97%	29.28%	27.65%	29.96%
Earnings before Interest and Taxes (EBIT)	492	389	620	640	584	647	776	645	826	573
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	600	710	727	749	716	781	889	782	961	692
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.49	2.52	2.68	2.60	2.39	2.42	2.78	2.59	2.37	2.43
Price to Tangible Book Value (P/TBV)	4.09	4.00	4.18	3.98	3.62	3.63	4.09	3.76	3.36	3.43
Price to Revenue (P/Rev)	3.20	3.44	3.93	3.84	3.55	3.57	4.08	3.79	3.51	3.54
Price to Earnings (P/E)	10.91	14.31	17.16	15.54	13.90	12.88	14.04	13.22	11.56	11.96
Dividend Yield	4.76%	4.81%	4.46%	4.52%	4.85%	4.73%	4.02%	4.27%	4.54%	4.39%
Earnings Yield	9.16%	6.99%	5.83%	6.43%	7.19%	7.76%	7.12%	7.57%	8.65%	8.36%
Enterprise Value to Invested Capital (EV/IC)	3.20	3.13	3.47	3.37	3.25	3.16	3.85	3.56	3.26	3.19
Enterprise Value to Revenue (EV/Rev)	2.79	3.05	3.46	3.36	2.98	3.07	3.54	3.24	2.92	3.04
Enterprise Value to EBITDA (EV/EBITDA)	6.78	7.63	8.42	7.56	6.52	6.66	7.53	6.94	5.91	6.48
Enterprise Value to EBIT (EV/EBIT)	7.81	10.15	11.30	9.84	8.47	7.95	8.92	8.30	6.98	7.64
Enterprise Value to NOPAT (EV/NOPAT)	8.45	11.20	14.78	15.55	13.80	13.52	15.04	13.82	12.38	12.18
Enterprise Value to Operating Cash Flow (EV/OCF)	6.76	8.38	12.07	13.68	15.23	16.24	17.55	13.52	11.15	12.78
Enterprise Value to Free Cash Flow (EV/FCFF)	134.21	8.97	12.22	14.90	11.89	12.97	14.79	13.18	15.89	16.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.48	-0.34	-0.38	-0.38	-0.40	-0.37	-0.41	-0.42	-0.44	-0.40
Leverage Ratio	1.23	1.21	1.21	1.21	1.24	1.20	1.21	1.21	1.23	1.18
Compound Leverage Factor	1.23	1.21	1.21	1.21	1.24	1.20	1.21	1.21	1.23	1.18
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	8.13%	8.75%	10.21%	11.36%	7.68%	7.64%	8.27%	8.26%	8.62%	9.65%
Common Equity to Total Capital	91.87%	91.25%	89.79%	88.64%	92.32%	92.36%	91.73%	91.74%	91.38%	90.35%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	7.76	8.73	8.87	8.53	7.61	8.92	9.47	8.81	7.88	9.44
Noncontrolling Interest Sharing Ratio	9.84%	10.42%	10.36%	9.71%	7.90%	8.18%	9.21%	9.78%	8.17%	8.70%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.38	5.53	5.54	7.11	7.61	5.88	6.07	9.35	10.91	8.01
Quick Ratio	7.38	5.53	5.54	7.11	7.61	5.88	6.07	9.35	10.91	8.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,723	628	648	460	657	346	475	502	115	-78
Operating Cash Flow to CapEx	1,411.03%	-223.84%	843.00%	550.63%	502.14%	-192.19%	621.76%	656.05%	623.81%	-249.47%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.59	0.54	0.50	0.51	0.52	0.54	0.53	0.53	0.53	0.55
Accounts Receivable Turnover	8.23	7.18	7.47	8.16	8.49	8.30	8.27	8.45	8.42	8.42
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.41	8.70	8.23	8.25	8.17	8.27	8.30	8.21	7.99	7.95
Accounts Payable Turnover	6.54	5.54	6.16	6.94	6.75	6.45	7.51	7.33	7.38	7.10
Days Sales Outstanding (DSO)	44.35	50.83	48.86	44.74	42.97	43.97	44.12	43.19	43.36	43.36
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	55.83	65.87	59.28	52.56	54.07	56.63	48.57	49.82	49.45	51.38
Cash Conversion Cycle (CCC)	-11.48	-15.05	-10.42	-7.82	-11.10	-12.66	-4.45	-6.63	-6.09	-8.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,045	6,328	6,159	6,255	5,825	6,265	6,133	6,179	6,185	6,756
Invested Capital Turnover	1.39	0.99	0.98	1.00	1.07	1.03	1.09	1.09	1.15	1.09
Increase / (Decrease) in Invested Capital	2,141	-440	-302	-59	-220	-63	-26	-77	361	491
Enterprise Value (EV)	19,315	19,782	21,340	21,055	18,910	19,801	23,594	21,999	20,184	21,535
Market Capitalization	22,178	22,293	24,227	24,063	22,485	23,041	27,246	25,749	24,248	25,124
Book Value per Share	$39.47	$39.56	$40.31	$41.25	$41.91	$42.53	$43.82	$44.46	$46.04	$46.57
Tangible Book Value per Share	$24.03	$24.91	$25.84	$26.91	$27.71	$28.44	$29.82	$30.65	$32.40	$33.01
Total Capital	9,695	9,687	10,074	10,451	10,182	10,291	10,666	10,823	11,216	11,450
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-3,651	-3,359	-3,915	-4,196	-4,357	-4,026	-4,534	-4,645	-5,031	-4,694
Capital Expenditures (CapEx)	54	60	61	72	94	82	103	103	105	113
Debt-free, Cash-free Net Working Capital (DFCFNWC)	320	296	221	338	314	319	340	466	518	437
Debt-free Net Working Capital (DFNWC)	2,687	2,052	2,315	2,587	2,893	2,385	2,756	3,181	3,691	3,087
Net Working Capital (NWC)	2,687	2,052	2,315	2,587	2,893	2,385	2,756	3,181	3,691	3,087
Net Nonoperating Expense (NNE)	60	-101	-97	-80	-2.11	-190	-145	-60	-165	-3.35
Net Nonoperating Obligations (NNO)	-3,651	-3,359	-3,915	-4,196	-4,357	-4,026	-4,534	-4,645	-5,031	-4,694
Total Depreciation and Amortization (D&A)	109	321	107	109	131	134	113	137	135	119
Debt-free, Cash-free Net Working Capital to Revenue	4.62%	4.56%	3.58%	5.39%	4.96%	4.93%	5.09%	6.86%	7.49%	6.16%
Debt-free Net Working Capital to Revenue	38.79%	31.62%	37.56%	41.33%	45.61%	36.92%	41.30%	46.81%	53.41%	43.51%
Net Working Capital to Revenue	38.79%	31.62%	37.56%	41.33%	45.61%	36.92%	41.30%	46.81%	53.41%	43.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.67	$1.16	$1.83	$2.07	$1.98	$1.90	$2.50	$2.11	$2.64	$1.93
Adjusted Weighted Average Basic Shares Outstanding	223.46M	224.40M	224.57M	224.30M	223.47M	223.66M	223.30M	222.60M	222.16M	222.63M
Adjusted Diluted Earnings per Share	$1.66	$1.17	$1.83	$2.06	$1.97	$1.90	$2.49	$2.11	$2.64	$1.91
Adjusted Weighted Average Diluted Shares Outstanding	223.46M	224.40M	224.57M	224.30M	223.47M	223.66M	223.30M	222.60M	222.16M	222.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	223.46M	224.40M	224.57M	224.30M	223.47M	223.66M	223.30M	222.60M	222.16M	222.63M
Normalized Net Operating Profit after Tax (NOPAT)	396	162	310	384	437	276	449	425	465	413
Normalized NOPAT Margin	24.95%	10.63%	20.15%	23.84%	26.16%	16.84%	25.65%	24.51%	26.06%	22.66%
Pre Tax Income Margin	30.97%	25.51%	40.30%	39.73%	34.96%	39.40%	44.31%	37.21%	46.26%	31.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	57.05%	76.39%	80.64%	70.92%	67.63%	61.10%	56.66%	56.69%	51.57%	53.17%
Augmented Payout Ratio	129.57%	135.02%	119.71%	95.74%	83.56%	74.96%	73.23%	76.75%	69.00%	68.96%

Frequently Asked Questions About T. Rowe Price Group's Financials

When does T. Rowe Price Group's fiscal year end?

According to the most recent income statement we have on file, T. Rowe Price Group's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has T. Rowe Price Group's net income changed over the last 9 years?

T. Rowe Price Group's net income appears to be on an upward trend, with a most recent value of $2.14 billion in 2024, rising from $1.22 billion in 2015. The previous period was $1.84 billion in 2023.

What is T. Rowe Price Group's operating income?

T. Rowe Price Group's total operating income in 2024 was $2.33 billion, based on the following breakdown:

Total Gross Profit: $4.34 billion
Total Operating Expenses: $2.00 billion

How has T. Rowe Price Group revenue changed over the last 9 years?

Over the last 9 years, T. Rowe Price Group's total revenue changed from $4.20 billion in 2015 to $7.09 billion in 2024, a change of 68.9%.

How much debt does T. Rowe Price Group have?

T. Rowe Price Group's total liabilities were at $2.02 billion at the end of 2024, a 1.7% increase from 2023, and a 486.2% increase since 2015.

How much cash does T. Rowe Price Group have?

In the past 9 years, T. Rowe Price Group's cash and equivalents has ranged from $1.17 billion in 2015 to $2.65 billion in 2024, and is currently $2.65 billion as of their latest financial filing in 2024.

How has T. Rowe Price Group's book value per share changed over the last 9 years?

Over the last 9 years, T. Rowe Price Group's book value per share changed from 18.96 in 2015 to 46.57 in 2024, a change of 145.5%.

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This page (NASDAQ:TROW) was last updated on 4/25/2025 by MarketBeat.com Staff

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T. Rowe Price Group (TROW) Financials

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T. Rowe Price Group (TROW) Financials

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