T. Rowe Price Group, Inc.

TROWNASDAQFinancial Services● Active

$105.99

$-0.97(-0.91%)

Market Cap$22.7B

P/E Ratio—

52W High$118.22

52W Low$85.22

Avg Volume2.3M

Open$106.52

Beta1.52

Overview

T. Rowe Price Group, Inc. (TROW) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

TROW · free cash flow · updated Jun 8, 2026

Core FCF metrics

TROW · FCF · TTM · margin & CAGR

Free cash flow was $1.48B for FY2025 (fiscal year ending 2025-12-31), up 17.2% year-over-year The FCF margin was 20.2%. Five-year CAGR stands at -2.8%.

FY2025 Free Cash Flow$1.48B▲ +17.2% YoY

Trailing 12M (TTM)$2.34Btrailing 4 quarters sum

FCF Margin20.2%$1.48B ÷ revenue

3-Year CAGR-11.3%FY2022 → FY2025

5-Year CAGR-2.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

TROW · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.75B(274M)$1.48B▲ +17.2%20.2%

FY2024$1.69B(423M)$1.26B▲ +38.5%17.8%

FY2023$1.22B(308M)$911.2M▼ 57.1%14.1%

FY2022$2.36B(238M)$2.12B▼ 34.0%32.7%

FY2021$3.45B(239M)$3.21B▲ +88.5%41.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

TROW · P/FCF · FCF yield · FCF per share

T. Rowe Price Group, Inc. (TROW) trades at a FCF yield of 10.29% and a price-to-free-cash-flow ratio of 10.1x. FCF per share stands at $10.45, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

10.29%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$10.45

TTM FCF ÷ Shares Outstanding

Price / FCF

x10.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x8.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

TROW · cash flow statement · operating / investing / financing

For FY2025, T. Rowe Price Group, Inc. generated $1.75B in operating cash flow and spent 274M in capital expenditures, yielding $1.48B in free cash flow.

Operating Activities

+$1.75B

Cash from core business operations

2025-12-31

Investing Activities

+$230.3M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.28B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.75B) − |CapEx| (274M) = FCF ($1.48B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

TROW vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

T. Rowe Price Group, Inc.YOU

TROW

$1.48B+17.2%20.2%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

T. Rowe Price Group, Inc. (TROW) reported free cash flow of $1.48B for FY2025 (fiscal year ending 2025-12-31), up 17.2% year-over-year. The FCF margin was 20.2%.

Based on available data, T. Rowe Price Group, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $3.21B in FY2021. The 5-year CAGR stands at -2.8%.

T. Rowe Price Group, Inc.'s FCF yield is 10.29% and price-to-FCF ratio is 10.1x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

TROW free cash flow · 8 questions

T. Rowe Price Group, Inc. free cash flow was $1.48B for FY2025, up 17.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.34B.

TROW free cash flowTROW FCFTROW FCF 2025TROW free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · T. Rowe Price Group, Inc. · T. Rowe Price Group, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026