T. Rowe Price Group

TROW

Asset Management · Financial Services

Also trades as: 0KNY.L

Price

$111.60

-2.15 (-1.89%)

Market Cap

$23.91B

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 12, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−2.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 228.8M (2021) → 223.8M (2025)

T. Rowe Price is an investment management company. It manages money for individuals, retirement plans, and large institutions like pension funds by investing in stocks, bonds, and other assets through mutual funds and other investment products. Founded in 1937 and headquartered in Baltimore, it is one of the largest actively managed fund companies in the United States.

The company earns money primarily by charging fees based on a percentage of the assets it manages — so when markets rise and more money flows in, revenue grows. It operates mainly in the U.S. but also serves clients in Europe and Asia, managing roughly $1.5 trillion in assets. Its main competitive strength is its long track record and strong brand in retirement investing, particularly through 401(k) plans. The biggest risk it faces is the ongoing shift by investors away from actively managed funds toward cheaper index funds, which puts pressure on both fees and client retention.

Winston Score History

Politician Trades

9 trades / 12mo

3 Congressional buys and 6 sells on TROW in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+10.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+28.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

2.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$3.2B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

T. Rowe Price Group is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

-76.2%

Thin — -76.2% gross margin

Operating Margin

30.3%

Excellent — 30.3% operating margin

ROCE

5.2%

Weak — 5.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+7.0%

Slow sales growth (+7.0% YoY)

EPS YoY

+11.4%

Earnings growing (+11.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

104%

Turns 104% of profit into real cash

FCF Margin

27.0%

Converts sales into free cash efficiently (27.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

11.2x

Attractive valuation — P/E 11.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-0.1

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

4.38%

Healthy income — 4.38% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

+2.4%

Dividend flat

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