TROW

T. Rowe Price Group, Inc.

$102.13

+2.03% 2026-10-20

FinancialsS&P 500

1M 3M 6M 1Y 2Y

TROWSPY

+0.7%

-1.9%

-12.1%

+5.5%

YTD

+3.7%

+3.1%

Live chart

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Grades vs sector

Momentum

44th pct in sector

12-1 return: +6.8%
Percentile within its GICS sector across the S&P 1500.

Growth

49th pct in sector

C+

Revenue growth (YoY): +10.7%
Percentile within its GICS sector across the S&P 1500.

Value

67th pct in sector

Forward E/P: 10.1% · EBITDA/EV: 14.9%
Percentile within its GICS sector across the S&P 1500.

Profitability

66th pct in sector

Profit margin: +29.3% · Return on equity: +19.4%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth

rank 93 of 360 · Composite (0-1) 0.6

Momentum Top 15

rank 233 of 499 · 12-1 momentum % 12.7

Momentum Blend

not in the current book

New Highs Growth

not ranked (outside this model's universe or screens)

Conviction 20

not in the current book

News

More news

Tenstorrent raises $1.5 billion for AI compute

Axios · Oct 19

Chipmaker Tenstorrent raises $1.5 billion at $6.2 billion valuation - Bloomberg

Investing.com · Oct 19

Tenstorrent Announces a $1.5B Series E at a $6.2B Valuation

ACCESS Newswire · Oct 19

Key stats

Market cap$21.8B

P/E (trailing)10.3

P/E (forward)10.0

52-week range85.22 – 122.00

Revenue growth (YoY, latest qtr)+10.7%

Dividend yield5.19%

Analyst consensusHold (13)

Mean price target$105.92 (+4%)

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Leans undervalued

Model read-out from the numbers below, not advice. Score +2 (DCF counts double).

▲DCF (base case)above the price by 27%

•Forward P/E vs sector10.0x vs median 10.2x

•Piotroski F-score4/9

▲Net debt / EBITDA-1.4x

•Analyst target+4% (13 analysts)

Discounted cash flow

Bear

$92

-10%

growth 2% · disc. 12.6% · term. 2.0%

Base

$130

+27%

growth 7% · disc. 11.6% · term. 2.5%

Bull

$174

+71%

growth 10% · disc. 10.6% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Not meaningful for asset management & custody banks: for banks, insurers and lenders, cash moving through loans and deposits swamps "free cash flow". Book value and earnings are better guides.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.47 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Financials

P/E (trailing)

sector median 13.0× · 20th pct

10.3×
cheaper

Forward P/E

sector median 10.2× · 46th pct

10.0×
cheaper

EV / EBITDA

sector median 10.9× · 28th pct

7.9×
cheaper

Price / sales

sector median 2.8× · 51st pct

2.9×
pricier

Price / book

sector median 1.6× · 62nd pct

2.0×
pricier

FCF yield

sector median 8.2% · 48th pct

7.7%
pricier

Forward EPS $10.21 vs trailing $9.96 (+3% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin

36.8%

Operating margin

30.8%

FCF margin

22.0%

Net margin

29.3%

Return on equity

20.2%

Return on invested capital

23.0%

Net debt / EBITDA

-1.4×

Current ratio

–

Interest cover

–

Cash conversion (OCF/NI)

0.9×

Piotroski F-score 4/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✗ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Analysts

Mean target

$106

+4%

Analysts

Hold

Range

$90–$116

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$7.3B	$2.1B	$1.5B
2024	$7.1B	$2.1B	$1.3B
2023	$6.5B	$1.8B	$911.2M
2022	$6.5B	$1.6B	$2.1B
2021	$7.7B	$3.1B	$3.2B
2020	$6.2B	$2.4B	$1.7B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +4.1%.

Earnings

Next report: 2026-10-29 · before open · EPS est 2.65

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-07-31	2.52	2.57	+2.0%
2026-04-30	2.35	2.52	+7.4%
2026-02-04	2.46	2.44	-1.0%
2025-10-31	2.54	2.81	+10.5%
2025-08-01	2.13	2.24	+4.9%
2025-05-02	2.13	2.23	+4.7%
2025-02-05	2.21	2.12	-4.1%
2024-11-01	2.35	2.57	+9.5%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$1.9B	+10.7%
2026-03-31	$1.9B	–
2025-12-31	$1.9B	–
2025-09-30	$1.9B	–
2025-06-30	$1.7B	–

Analyst actions

Barclays

2026-10-14 · main

Underweight → Underweight
PT $102

JP Morgan

2026-10-13 · main

Underweight → Underweight
PT $106

BMO Capital

2026-10-13 · main

Market Perform → Market Perform
PT $110

TD Cowen

2026-10-12 · main

Hold → Hold
PT $109

Evercore ISI Group

2026-10-09 · main

In-Line → In-Line
PT $109

Morgan Stanley

2026-09-25 · main

Equal-Weight → Equal-Weight
PT $110

Recent dividends

2026-09-15: $1.300 · 2026-06-15: $1.300 · 2026-03-16: $1.300 · 2025-12-15: $1.270 · 2025-09-15: $1.270 · 2025-06-13: $1.270 · 2025-03-14: $1.270 · 2024-12-13: $1.240

Insider trades

Nelson Joshua B

Vice President · 2026-08-25

SELL
$1.1M

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Stats refreshed 2026-10-20 18:08:27 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

coteau

Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.

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