TROWPRICE T ROWE GROUP INC

Investment Advice

Revenue: $7.3B; 3.1% YoY
Operating margin: 29.9%; 9.0% YoY
EBITDA: $2.2B; 6.2% YoY
Market cap: $22.7B
Employees: 7,773; $941K revenue each
Net debt / EBITDA: —
AI in 10-K: 4.4; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 1 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
84% of net income
Cash flow under 80% of net income
Dilutive SBCNo
3% of revenue
Over 10% of revenue
Payouts exceed cash flowYes
101% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
16% of assets
Over 40% of assets
Shareholder dissentNo
87% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$941K · 33rd pct
Bottom quartile of its SIC industry
Quiet on AINo
4.4 per 10K words · 80th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$22.7B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$2M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$7.7B	$6.5B	$6.5B	$7.1B	$7.3B	3.1%
Operating income	$3.7B	$2.4B	$2.0B	$2.3B	$2.2B	6.2%
Net income	$3.1B	$1.6B	$1.8B	$2.1B	$2.1B	0.6%
Operating cash flow	$3.5B	$2.4B	$1.2B	$1.7B	$1.8B	4.0%
Capex	$239M	$238M	$308M	$423M	$274M	35%
Stock-based comp	$275M	$285M	$266M	$247M	$217M	12%
Buybacks	$1.1B	$850M	$254M	$337M	$621M	84%
Dividends	$1.7B	$1.1B	$1.1B	$1.1B	$1.1B	0.7%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $2M · 3
Net: −$2M

Pay vs performance

No pay-versus-performance disclosure yet.