T. Rowe Price Group, Inc. (TROW) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 1.45B | 1.83B | 1B | 828.3M | 922M | 947.6M | 940.7M | 911.5M | 884.3M | 762.8M | 886.3M | 816.5M | 740.5M | 698.7M | 854.6M | 897.6M | 1.12B | 1.15B | 1.22B | 1.19B |
| Gross Margin % | 78.27% | 94.57% | 53.06% | 48.06% | 52.27% | 51.94% | 52.68% | 52.59% | 50.53% | 46.46% | 53.05% | 50.71% | 48.16% | 45.84% | 53.81% | 59.33% | 59.86% | 58.59% | 62.6% | 61.65% |
| Gross Profit Growth % | 57.64% | 93.02% | 6.8% | -9.13% | 4.26% | 24.23% | 6.14% | 11.63% | 19.42% | 9.17% | 3.71% | -9.04% | -33.59% | -39.21% | -30.13% | -24.54% | -0.14% | 17.55% | 31.08% | 55.53% |
| Operating Expenses | 810M | 1.36B | 361.5M | 350M | 325.7M | 379.2M | 327.1M | 346.8M | 297.7M | 375.6M | 305M | 283M | 256.3M | 445.6M | 280M | 229M | 237.7M | 286.8M | 227M | 231.4M |
| OpEx % of Revenue | 43.62% | 70.22% | 19.09% | 20.31% | 18.46% | 20.78% | 18.32% | 20.01% | 17.01% | 22.87% | 18.26% | 17.58% | 16.67% | 29.23% | 17.63% | 15.14% | 12.76% | 14.62% | 11.62% | 11.99% |
| Selling, General & Admin | 249.2M | 1.36B | 306.2M | 318.8M | 297M | 347.8M | 289M | 302.9M | 267.8M | 344.1M | 266.5M | 277.6M | 279.9M | 323.3M | 282.8M | 252.1M | 256.1M | 286.8M | 227M | 231.4M |
| SG&A % of Revenue | 13.42% | 70.22% | 16.17% | 18.5% | 16.84% | 19.06% | 16.18% | 17.48% | 15.3% | 20.96% | 15.95% | 17.24% | 18.2% | 21.21% | 17.81% | 16.66% | 13.75% | 14.62% | 11.62% | 11.99% |
| Research & Development | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 643.4M | 471M | 643.2M | 478.3M | 596.3M | 568.4M | 613.6M | 564.7M | 586.6M | 387.2M | 581.3M | 533.5M | 484.2M | 253.1M | 574.6M | 668.6M | 877.4M | 862.5M | 996.2M | 958.1M |
| Operating Margin % | 34.65% | 24.35% | 33.97% | 27.75% | 33.81% | 31.15% | 34.36% | 32.58% | 33.52% | 23.58% | 34.79% | 33.13% | 31.49% | 16.61% | 36.18% | 44.19% | 47.1% | 43.97% | 50.98% | 49.66% |
| Operating Income Growth % | 7.9% | -17.14% | 4.82% | -15.3% | 1.65% | 46.8% | 5.56% | 5.85% | 21.15% | 52.98% | 1.17% | -20.21% | -44.81% | -70.66% | -42.32% | -30.22% | -1.77% | 14.1% | 36.67% | 73.04% |
| EBITDA | 712.2M | 533.5M | 763.4M | 664M | 659.9M | 884.2M | 551.6M | 752.5M | 649.2M | 687.2M | 547.1M | 690.5M | 543M | 732.9M | 631.4M | 723.3M | 931.9M | 916.2M | 1.05B | 1.01B |
| EBITDA Margin % | 38.35% | 27.58% | 40.32% | 38.53% | 37.41% | 48.46% | 30.89% | 43.41% | 37.09% | 41.85% | 32.75% | 42.88% | 35.31% | 48.08% | 39.76% | 47.81% | 50.02% | 46.7% | 53.63% | 52.27% |
| EBITDA Growth % | 7.93% | -39.66% | 38.4% | -11.76% | 1.65% | 28.67% | 0.82% | 8.98% | 19.56% | -6.24% | -13.35% | -4.53% | -41.73% | -20.01% | -39.75% | -28.28% | -1.09% | 14.31% | 34.59% | 67.55% |
| D&A (Non-Cash Add-back) | 68.8M | 62.5M | 120.2M | 185.7M | 63.6M | 315.8M | -62M | 187.8M | 62.6M | 300M | -34.2M | 157M | 58.8M | 479.8M | 56.8M | 54.7M | 54.5M | 53.7M | 51.7M | 50.4M |
| EBIT | 632.2M | 613.1M | 698.5M | 509.5M | 625M | 599.8M | 651.7M | 608.6M | 616.5M | 418.7M | 619.8M | 538.9M | 460.6M | 375.4M | 571.8M | 645.5M | 859M | 862.5M | 996.2M | 958.1M |
| Net Interest Income | 5.6M | 142.7M | 233.8M | 244.5M | 19.1M | 11.8M | 13.4M | 13.9M | 20.3M | 12.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 5.6M | 142.7M | 233.8M | 244.5M | 19.1M | 11.8M | 13.4M | 13.9M | 20.3M | 12.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | 632.2M | 613.1M | 881.6M | 713.8M | 667M | 573M | 826.1M | 645M | 775.5M | 646.9M | 584.1M | 639.7M | 619.6M | 388.8M | 491.8M | 388.7M | 678.9M | 912.6M | 984.7M | 1.1B |
| Pretax Margin % | 34.04% | 31.7% | 46.56% | 41.42% | 37.81% | 31.41% | 46.26% | 37.21% | 44.31% | 39.4% | 34.96% | 39.73% | 40.3% | 25.51% | 30.97% | 25.69% | 36.44% | 46.52% | 50.39% | 57.12% |
| Income Tax | 148.1M | 152.5M | 195.1M | 157.7M | 161.9M | 156.3M | 185.7M | 159.7M | 182.1M | 173.3M | 144.9M | 158.5M | 177.9M | 99.2M | 134M | 100.9M | 164.5M | 179M | 227.3M | 259.3M |
| Effective Tax Rate % | 23.43% | 24.87% | 22.13% | 22.09% | 24.27% | 27.28% | 22.48% | 24.76% | 23.48% | 26.79% | 24.81% | 24.78% | 28.71% | 25.51% | 27.25% | 25.96% | 24.23% | 19.61% | 23.08% | 23.53% |
| Net Income | 498.2M | 445.3M | 646.1M | 505.2M | 490.5M | 439.9M | 603M | 483.4M | 573.8M | 437.6M | 453.2M | 476.4M | 421.5M | 266M | 384.4M | 339.6M | 567.9M | 740.6M | 777.2M | 815.7M |
| Net Margin % | 26.83% | 23.02% | 34.12% | 29.32% | 27.81% | 24.11% | 33.77% | 27.89% | 32.78% | 26.65% | 27.13% | 29.59% | 27.41% | 17.45% | 24.2% | 22.45% | 30.48% | 37.75% | 39.77% | 42.28% |
| Net Income Growth % | 1.57% | 1.23% | 7.15% | 4.51% | -14.52% | 0.53% | 33.05% | 1.47% | 36.13% | 64.51% | 17.9% | 40.28% | -25.78% | -64.08% | -50.54% | -58.37% | -24.22% | -5.46% | 20.83% | 35.27% |
| Net Income (Continuing) | 484.1M | 460.6M | 686.5M | 556.1M | 505.1M | 416.7M | 640.4M | 485.3M | 593.4M | 473.6M | 439.2M | 481.2M | 441.7M | 289.6M | 357.8M | 287.8M | 514.4M | 733.6M | 757.4M | 842.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.1B | 1.19B | 1.15B | 1.25B | 1.14B | 1.1B | 966.8M | 894.3M | 882.1M | 786.1M | 781.7M | 1.19B | 1.03B | 847.4M | 787.8M | 773.4M | 1.06B | 1.23B | 1.09B | 880.4M |
| EPS (Diluted) | 2.23 | 1.99 | 2.87 | 2.24 | 2.15 | 1.92 | 2.64 | 2.11 | 2.49 | 1.90 | 1.97 | 2.06 | 1.83 | 1.16 | 1.66 | 1.46 | 2.41 | 3.18 | 3.31 | 3.46 |
| EPS Growth % | 3.72% | 3.65% | 8.71% | 6.16% | -13.65% | 1.05% | 34.01% | 2.43% | 36.07% | 63.79% | 18.67% | 41.1% | -24.07% | -63.52% | -49.85% | -57.8% | -23.97% | -4.5% | 21.25% | 35.69% |
| EPS (Basic) | 2.23 | 1.99 | 2.88 | 2.24 | 2.15 | 1.93 | 2.64 | 2.11 | 2.50 | 1.91 | 1.98 | 2.07 | 1.83 | 1.16 | 1.67 | 1.47 | 2.43 | 3.21 | 3.34 | 3.50 |
| Diluted Shares Outstanding | 223.41M | 223.77M | 219.7M | 220.4M | 222.6M | 222.8M | 222.8M | 223.5M | 224.2M | 224M | 224.8M | 225.2M | 225.2M | 224.6M | 226.3M | 227.9M | 229.8M | 226.9M | 229.1M | 229.2M |
| Basic Shares Outstanding | 223.41M | 223.77M | 219.4M | 220.2M | 222.3M | 222.4M | 222.3M | 223M | 223.6M | 223.5M | 224.1M | 224.4M | 224.4M | 223.7M | 225.3M | 226.7M | 228.2M | 224.9M | 226.9M | 226.9M |
| Dividend Payout Ratio | - | 63.89% | 43.86% | 56.53% | 59.02% | 64.7% | 46.65% | 58.59% | 49.93% | 63.92% | 61.69% | 58.82% | 66.95% | 103.38% | 71.85% | 81.57% | 49.16% | 33.47% | 122.09% | 30.99% |