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T. Rowe Price (TROW) earnings date & Q2 2026 results
The quarter in brief
Revenue grew 10.7% y/y to $1.91B, operating margin 28.3% vs 27.8%, net income $632M (+25.1% y/y).
Key growth driver: Investment advisory fees rose 11.3% to $1,744.8M as average assets under management grew to $1,837.7 billion from $1,588.8 billion, partly offset by a lower effective… · by the Q2 2026 report
Net income attributable to T. Rowe Price Group
$632M
up 25.1% y/y
Net revenues
$1,907M
up 10.7% y/y
Net operating income
$541M
up 13.0% y/y
Next report
not announced yet
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net revenues | $1,907 · +10.7% |
| Total compensation and related costs | $823 · +13.2% |
| Technology, occupancy, and facility costs | $206 · +5.6% |
| Distribution and servicing costs | $106 · +14.7% |
| General, administrative, and other costs | $105 · +11.7% |
| Product and recordkeeping related costs | $83.1 · +11.1% |
| Advertising, amortization and restructuring (calculated) | $43.5 · −28.8% |
| Net operating income | $541 · +13.0% · 28.3% margin |
| Total non-operating income | $369 · +56.7% |
| Income before income taxes | $910 · +27.4% |
| Provision for income taxes | $214 · +35.8% · 23.5% effective rate |
| Net income attributable to redeemable non-controlling interests | $63.4 · +24.6% |
| Net income attributable to T. Rowe Price Group | $632 · +25.1% · $2.88/sh · 33.1% margin |
Verdict: revenue grew 10.7% y/y to $1.91B, operating margin 28.3% vs 27.8%, net income $632M (+25.1% y/y).
Diluted EPS $2.88 vs $2.24 a year earlier (adjusted $2.57); record ending assets under management of $1,893.4 billion; net cash outflows of $6.5 billion in the quarter; investment advisory effective fee rate 38.1 bps vs 39.6 bps; $441 million returned to stockholders.
Source and notation
Source: T. Rowe Price earnings release, 8-K EX-99 of 07/31/2026 (SEC EDGAR). Financial-services layout: net revenues as reported (for brokers, after interest expense); expenses by line of the income statement lead to pre-tax income. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Investment advisory fees rose 11.3% to $1,744.8M as average assets under management grew to $1,837.7 billion from $1,588.8 billion, partly offset by a lower effective fee rate as flows shifted toward lower-fee products.
- Non-operating income of $369.1M (gains on investments and consolidated investment products) lifted pre-tax income; on an adjusted basis non-operating income was only $38.5M.
- Total compensation and related costs rose to $823.4M, including a $126.5M market-related change in deferred compensation liabilities that mirrors investment gains; adjusted operating expenses grew 4.9% to $1,203.2M.
- Net cash flows were negative $13.5 billion in equity, while fixed income, multi-asset and alternatives attracted inflows.
- Operating income was $541M, a 28.3% margin vs 27.8% a year earlier.
- The effective tax rate was 23.5% vs 22.1% a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Robert W. SharpsChair and Chief Executive Officer [1]
- Jennifer B. DardisVice President, Chief Financial Officer and Treasurer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-07-31 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-07-31 · SEC EDGAR · 10/20/2026
T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers mutual funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial intermediaries. · Text: Wikipedia, CC BY-SA 4.0, abridged
The firm has assets under management of more than $1.51 trillion, and annual revenues of $6.48 billion as of 2023; in 2023, it placed #537 on the Fortune 1000 list of the largest U.S. companies. Headquartered at 1307 Point Street in Baltimore, Maryland, in 2024, T. Rowe Price had 7,868 employees across 17 international offices with clients in 55 countries.
Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $1.893B, EPS (GAAP) $2.87
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
TROW earnings history: past report dates
| Jul 31, 2026 Fri | 7:03 ambefore market open | Jun 30, 2026 | $1.9B+11% y/y | $2.88+29% y/y |
| Apr 30, 2026 Thu | 7:02 ambefore market open | Mar 31, 2026 | $1.9B+5% y/y | $2.23+4% y/y |
| Feb 4, 2026 Wed | 7:06 ambefore market open | Dec 31, 2025 | ≈$1.9B+6% y/y | ≈$1.98+4% y/y |
| Oct 31, 2025 Fri | 7:01 ambefore market open | Sep 30, 2025 | $1.9B+6% y/y | $2.87+9% y/y |
| Aug 1, 2025 Fri | 7:05 ambefore market open | Jun 30, 2025 | $1.7B−1% y/y | $2.24+6% y/y |
| May 2, 2025 Fri | 7:12 ambefore market open | Mar 31, 2025 | $1.8B+1% y/y | $2.15−14% y/y |
| Feb 5, 2025 Wed | 7:10 ambefore market open | Dec 31, 2024 | ≈$1.8B+11% y/y | ≈$1.91+1% y/y |
| Nov 1, 2024 Fri | 7:13 ambefore market open | Sep 30, 2024 | $1.8B+7% y/y | $2.64+34% y/y |
| Jul 26, 2024 Fri | 7:03 ambefore market open | Jun 30, 2024 | $1.7B+8% y/y | $2.11+2% y/y |
| Apr 26, 2024 Fri | 7:22 ambefore market open | Mar 31, 2024 | $1.8B+14% y/y | $2.49+36% y/y |
| Feb 8, 2024 Thu | 7:02 ambefore market open | Dec 31, 2023 | ≈$1.6B+8% y/y | ≈$1.90+64% y/y |
| Oct 27, 2023 Fri | 7:13 ambefore market open | Sep 30, 2023 | $1.7B+5% y/y | $1.97+19% y/y |
| Jul 28, 2023 Fri | 7:13 ambefore market open | Jun 30, 2023 | $1.6B+6% y/y | $2.06+41% y/y |
| May 2, 2023 Tue | 7:11 ambefore market open | Mar 31, 2023 | $1.5B−17% y/y | $1.83−24% y/y |
| Jan 26, 2023 Thu | 9:22 ambefore market open | Dec 31, 2022 | ≈$1.5B−22% y/y | ≈$1.16−64% y/y |
| Jan 27, 2022 Thu | 8:38 ambefore market open | Dec 31, 2021 | ≈$2.0B+13% y/y | ≈$3.18−5% y/y |
| Jan 28, 2021 Thu | 8:06 ambefore market open | Dec 31, 2020 | $1.7B+18% y/y | $3.33+49% y/y |
| Jan 29, 2020 Wed | 8:08 ambefore market open | Dec 31, 2019 | $1.5B+13% y/y | $2.24+59% y/y |
| Jan 30, 2019 Wed | 7:38 ambefore market open | Dec 31, 2018 | $1.3B+1% y/y | $1.41+3% y/y |
| Jan 30, 2018 Tue | 4:21 pmafter market close | Dec 31, 2017 | $1.3B | $1.37−9% y/y |
| Jan 26, 2017 Thu | 7:49 ambefore market open | Dec 31, 2016 | — | $1.50+28% y/y |
| Jan 28, 2016 Thu | 8:34 ambefore market open | Dec 31, 2015 | $1.1B+3% y/y | $1.17−1% y/y |
| Jan 28, 2015 Wed | 7:38 ambefore market open | Dec 31, 2014 | $1.0B+10% y/y | $1.18+11% y/y |
| Jan 29, 2013 Tue | 8:16 ambefore market open | Dec 31, 2012 | $787M+17% y/y | $0.88+21% y/y |
| Jan 27, 2012 Fri | 11:47 amduring market hours | Dec 31, 2011 | $672M | $0.73 |
Show all 25 reports since 2012Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
T. Rowe Price: 15-year financials
| 2025 | 7,315 | 2,189 | 2,087 | 1,479 | 1,143 |
| 2024 | 7,094 | 2,333 | 2,100 | 1,262 | 1,136 |
| 2023 | 6,461 | 1,986 | 1,789 | 911 | 1,122 |
| 2022 | 6,488 | 2,374 | 1,558 | 2,122 | 1,107 |
| 2021 | 7,672 | 3,710 | 3,083 | 3,213 | 1,702 |
| 2020 | 6,207 | 2,746 | 2,373 | 1,704 | 846 |
| 2019 | 5,618 | 2,387 | 2,131 | 1,318 | 734 |
| 2018 | 5,373 | 2,361 | 1,838 | 1,451 | 694 |
| 2017 | 4,855 | 2,109 | 1,498 | 43.4 | 563 |
| 2016 | 4,285 | 1,733 | 1,215 | 22.2 | 541 |
| 2015 | 4,201 | 1,899 | 1,223 | 1,379 | 1,059 |
| 2014 | 3,982 | 1,891 | 1,230 | 1,218 | 462 |
| 2013 | 3,484 | 1,637 | 1,048 | 1,127 | 397 |
| 2012 | 3,023 | 1,364 | 884 | 826 | 603 |
| 2011 | 2,747 | 1,227 | 773 | 866 | 318 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Jun 30, 2026: $11.0B (72% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies that paid dividends 10 years without a gap
T. Rowe Price (TROW) earnings: FAQ
When is TROW's next earnings date?
We have not yet seen an announcement of the date from T. Rowe Price (TROW). Based on last year's report on Oct 31, 2025, the next report is expected around Oct 30, 2026.
What time does TROW report earnings?
T. Rowe Price usually reports before market open: its latest results release was filed with the SEC at 7:03 am ET on Jul 31, 2026.
When did TROW last report earnings?
T. Rowe Price reported Q2 2026 results on Jul 31, 2026.
Where can I find T. Rowe Price's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to TROW's filings; this page breaks the latest report down in a Sankey chart.
What was TROW's net income in Q2 2026?
T. Rowe Price reported net income of $632M for Q2 2026 (+25.1% year over year), under US GAAP.
Does T. Rowe Price pay dividends?
Yes. In 2025, T. Rowe Price paid $1,143M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has T. Rowe Price's revenue changed since 2011?
Per its 10-K filings, revenue grew 2.7x: $2,747M in 2011 and $7,315M in 2025. The peak was $7,672M in 2021. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
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