T. Rowe Price
T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity…
T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe. It employs fundamental and quantitative analysis with a bottom-up approach. The firm utilizes in-house and external research to make its investments. It employs socially responsible investing with a focus on environmental, social, and governance issues. It makes investment in late-stage venture capital transactions and usually invests between $3 million and $5 million. The firm was previously known as T. Rowe Group, Inc. and T. Rowe Price Associates, Inc. T. Rowe Price Group, Inc. was founded in 1937 and is based in Baltimore, Maryland, with additional offices in North America, Europe, Asia, Australia.After signing in, return here and select “Add to watchlist”. Saving companies requires a verified email address.
Priced within the modelled range
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Start with the price and fair value range, then review the data dates and assumptions below. Estimates are not predictions or investment advice.
Market price within modeled range
Showing the DCF (trailing free cash flow) you selected on the company card, using 2% growth, 2.4% terminal growth and 9.6% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 2%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 2.0% (sector default 5.4%, own revenue history -1.2%, analyst revenue consensus 1.1%).
5-year outlook: relative outlook of about 13.2% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 1.1% a year; the growth assumption used is 2.0%.
Adjust assumptions
Show the recommended model instead
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — USD 120.76 (+11.1%)
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EPS-based Gordon proxy
— USD 137.47 (+26.5%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— USD 120.33 (+10.7%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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FCFF (steady state)
— USD 122.14 (+12.4%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/EBITDA (12x)
— USD 191.05 (+75.7%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— USD 120.40 (+10.8%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/Sales (Rule of 40)
— USD 322.36 (+196.5%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 81.31 | -33.7% |
| Base USD 120.33 | 9.7% |
| Bull USD 197.24 | 44.9% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
5 years price change: -38.41% · USD 108.71 · Market data through 05 Nov 2026 ; dashed line is today’s model base value (USD 120.33). The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 05 Nov 2026; last refreshed 06 Nov 2026 18:44 (2 minutes ago).
08 Nov 2021Range USD 74.33 – 176.5005 Nov 2026
Latest news
Headlines provided by EODHD. Articles may mention multiple companies and are not investment recommendations.
More detail: quality, peers, price history, dividends and financials
Quality score: 92 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +4.4% a year | 12 / 20 |
| Balance sheet | net cash | 20 / 20 |
| Margins | EBITDA margin 41% | 20 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| TROW (this company) | USD 108.71 | 10.0% | 10.6 | 2.0 | 4.9% | 92 |
| BRK-B Berkshire Hathaway Inc. (Class B) | USD 571.97 | 99.9% | 0.0 | 0.0 | – | 92 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.66 | 68.4% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.86 | 45.8% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.84 | 36.1% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.23 | 34.4% | 8.0 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.50 | 32.6% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.87 | 30.2% | 8.2 | 1.3 | 5.0% | 88 |
| Peer median | 7.6 | 1.3 | ||||
Dividends
Paid in the last 12 months: USD 5.17 per share · yield 4.76% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 3.900 |
| 2025 | 5.080 |
| 2024 | 4.960 |
| 2023 | 4.880 |
| 2022 | 4.800 |
| 2021 | 7.320 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 12:42
| Revenue | USD 7,703,400,000 |
|---|---|
| EBITDA | USD 3,121,000,000 |
| EBIT | USD 2,581,300,000 |
| Net income | USD 2,187,800,000 |
| Free cash flow | USD 1,598,400,000 |
| Capital expenditures | USD 391,800,000 |
| Debt | USD 418,600,000 |
| Cash | USD 3,774,300,000 |
| Working capital | USD 2,445,600,000 |
| Shares outstanding | 213,600,000 |
| Reported dividends per share | USD 5.3745 |