T. Rowe Price Group (TROW) FY2011 results: revenue $2.7 billion, up 15.9% on the year
T. Rowe Price Group, Inc. (TROW) reported revenue of $2.7 billion for fiscal 2011, the year ended 31 December 2011, up 15.9% on the year before. Net income was $773 million, up 15.0%, and diluted earnings per share $2.92. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2013.
Revenue
$2.7 billion
+15.9% on the year
FY2007FY2011
Operating margin
44.7%
43.7% a year earlier
FY2007FY2011
Net income
$773 million
+15.0% on the year
FY2007FY2011
Diluted EPS
$2.92
+15.4% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
2,747
2,371
1,872
+15.9%
Gross profit
2,747
2,367
1,867
+16.0%
Gross margin
100.0%
99.9%
99.8%
Operating income
1,227
1,036
702
+18.4%
Operating margin
44.7%
43.7%
37.5%
Pre-tax income
1,251
1,070
689
+16.9%
Income tax
477
398
255
+20.0%
Effective tax rate
38.2%
37.2%
37.1%
Net income
773
672
434
+15.0%
Net margin
28.1%
28.4%
23.2%
Diluted EPS
$2.92
$2.53
$1.65
+15.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
948
733
536
+29.4%
Capital expenditure
82.3
118
134
-30.3%
Free cash flow
866
615
402
+40.9%
Free cash flow margin
31.5%
25.9%
21.5%
Cash from investing
-165
-277
-167
Cash from financing
-699
-386
-245
Share-based compensation
98.7
89.5
89.1
+10.3%
Buybacks
480
240
71.0
+99.9%
Dividends paid
318
279
257
+14.0%
Dividend per share
$1.24
$1.08
$1.00
+14.8%
Diluted shares, weighted
263m
265m
262m
-0.7%
Shares outstanding at period end
253m
259m
259m
-2.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,421
3,296
2,882
+3.8%
Debt
0.0
0.0
n/a
Other liabilities
350
346
328
+1.2%
Total liabilities and equity
3,770
3,642
3,210
+3.5%
Fixed assets
567
560
513
+1.3%
Goodwill
666
666
666
0.0%
Intangible assets
1.1
1.6
2.0
-31.2%
Securities held for sale or to maturity
199
186
183
+7.4%
Cash and equivalents
898
813
743
+10.4%
Other assets
1,439
1,416
1,104
+1.6%
Total assets
3,770
3,642
3,210
+3.5%
10-K for the year ended 31 December 2011, filed 5 February 2013: the filing.