Every 10-Q that T Rowe Price Group Inc (TROW) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TROW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TROW filings page.
T. Rowe Price Group reported stronger Q2 2026 results, with net revenues of $1,907.4 million, up 10.7% from Q2 2025, and net income attributable to the company of $632.0 million. Diluted EPS rose to $2.88 from $2.24 as operating margin improved to 28.3%.
Average assets under management increased 15.7% to $1,837.7 billion, while ending AUM reached $1,893.4 billion, driven by $190.2 billion of market gains partly offset by $6.5 billion of net outflows in the quarter and $20.2 billion year-to-date. The annualized investment advisory effective fee rate declined 1.5 basis points year over year.
Operating expenses rose 9.8% to $1,366.9 million, including a $6.7 million Q2 restructuring charge and higher deferred compensation costs. The firm generated $1,341.6 million of operating cash flow in the first half, returned $571.2 million in dividends, and spent $500.8 million on share repurchases. Contingent consideration of up to $900 million related to the OHA acquisition has a fair value of zero, and no earnout will be paid at the end of 2026.
T. Rowe Price Group, Inc. reported first‑quarter 2026 net revenues of $1,857.0 million, up 5.3% from a year earlier, as average assets under management rose 9.6% to $1,775.8 billion.
Net income attributable to the company was $498.2 million versus $490.5 million, with diluted EPS increasing to $2.23 from $2.15. The operating margin improved to 36.6% as revenue growth outpaced a modest 0.8% rise in operating expenses.
Ending assets under management were $1,709.7 billion, down $65.9 billion in the quarter, reflecting $13.7 billion in net outflows and $52.2 billion of market depreciation. The firm recorded a $10.0 million restructuring charge under its expense management program and returned $628.8 million to stockholders through dividends and share repurchases.
T. Rowe Price Group (TROW) reported third‑quarter 2025 results with net revenues of $1,893.5 million and diluted EPS of $2.87. Net operating income was $643.2 million, supported by higher investment advisory fees and non‑operating gains of $238.4 million.
Assets under management (AUM) rose to $1,767.2 billion, up $90.4 billion from June 30, driven by $89.1 billion of market appreciation and income, partly offset by $7.9 billion of net cash outflows. Multi‑asset and equity strategies led fee growth alongside modest gains in fixed income and alternatives.
Operating expenses were $1,250.3 million, including a $28.5 million restructuring charge aimed at reducing expense growth and realigning resources. The Board approved a plan in October to exit two owned office buildings, expected to result in a non‑cash charge of up to $100 million in Q4 2025. Cash and cash equivalents ended at $3,683.9 million as the company continued returning capital via $858.5 million dividends and $481.8 million share repurchases year‑to‑date.
T. Rowe Price Group’s Q2-25 10-Q shows modest earnings growth driven by investment gains despite continued net outflows and higher operating costs.
- Revenue: Q2 net revenues were $1.72 bn, essentially flat YoY (-0.6%), as advisory fees held steady while performance-based fees fell 62% to $6.4 mn.
- Expenses: Operating expenses rose 6.5% to $1.25 bn, led by compensation (+10%) and tech/occupancy (+12%).
- Profitability: Net operating income declined 15% to $478 mn, but strong investment gains (+113% YoY) lifted non-operating income to $236 mn. Net income attributable to TROW grew 4.5% to $505 mn; diluted EPS advanced to $2.24 from $2.11.
- Six-month view: Revenues were flat at $3.49 bn; net income fell 5.8% to $996 mn as expense growth outpaced revenues.
- Balance sheet: Cash & equivalents increased 15% since year-end to $3.06 bn; total equity reached $10.56 bn. Operating lease liabilities and deferred comp liabilities both rose.
- AUM: Assets under management closed at $1.68 tn, up 7% QoQ on $125 bn market appreciation but faced $14.9 bn net outflows (-$23.5 bn YTD). Multi-asset target-date AUM hit $520 bn.
- Capital returns: $328 mn of buybacks and $286 mn dividends in Q2; quarterly dividend raised to $1.27/share.
Management sees no material impact from the newly enacted One Big Beautiful Bill Act tax changes and still values the OHA earn-out at zero.