T. Rowe Price Group (TROW) Q3 FY2026 earnings: revenue $2.0 billion, up 5.9% on the year

T. Rowe Price Group, Inc. (TROW) announced its results for Q3 FY2026, the quarter ended 30 September 2026, on 29 October 2026. Revenue was $2.0 billion, up 5.9% on the same quarter a year earlier. Net income was $612 million, down 5.2% on the year, and diluted earnings per share $2.79. The figures are from the company's earnings press release; the 10-Q with the full statements is not filed yet, and this page fills in when it is.

Revenue$2.0 billionup 5.9%

Net income$612 milliondown 5.2%

Diluted EPS$2.79$2.87 a year earlier

QuarterQ3 FY2026ended 30 September 2026

What management said

Net revenues rose 5.9% year over year: Net revenues were $2.0 billion, up 5.9% from a year earlier and 5.1% from the second quarter. Investment advisory fees were $1,796.4 million, up 5.8% from a year earlier.
Adjusted EPS rose while GAAP EPS fell: Adjusted diluted EPS was $2.86, against $2.81 a year earlier, up 1.8%. GAAP diluted EPS was $2.79, against $2.87, down 2.8%.
Non-operating income fell on fixed income losses: GAAP non-operating income was $17.6 million, against $238.4 million a year earlier. Adjusted non-operating income was $18.0 million, against $50.2 million.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	2,005	1,907	1,894	+5.9%
Net income	612	632	646	-5.2%
Diluted EPS	$2.79	$2.88	$2.87	-2.8%

$ million except per share.

Q3 FY2026 is from the company's press release of 29 October 2026; the other columns are from its 10-Q and 10-K filings. A release figure is shown when the release's own figure for an earlier quarter matches the filed one, so the line and its units are read right.

Quarterly results, the last 20 quarters filed

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,954	1,962	1,863	1,513	1,588	1,524	1,538	1,610	1,671	1,642	1,750	1,733	1,786	1,824	1,764	1,723	1,894	1,934	1,857	1,907
Operating income	996	862	877	669	575	253	484	534	581	387	587	565	614	568	596	478	643	471	680	540
Operating margin	51%	44%	47%	44%	36%	17%	31%	33%	35%	24%	34%	33%	34%	31%	34%	28%	34%	24%	37%	28%
Pre-tax income	985	913	679	389	492	389	620	640	584	647	776	645	826	573	667	714	882	613	632	910
Tax rate	23%	20%	24%	26%	27%	26%	29%	25%	25%	27%	23%	25%	22%	27%	24%	22%	22%	25%	23%	24%
Net income	777	741	568	340	384	266	422	476	453	438	574	483	603	440	490	505	646	445	498	632
Net margin	40%	38%	30%	22%	24%	17%	27%	30%	27%	27%	33%	28%	34%	24%	28%	29%	34%	23%	27%	33%
Diluted EPS	$3.31	$3.18	$2.41	$1.46	$1.66	$1.16	$1.83	$2.06	$1.97	$1.90	$2.49	$2.11	$2.64	$1.92	$2.15	$2.24	$2.87	$1.99	$2.23	$2.88
Operating cash flow	1,289	361	1,103	624	768	-135	512	395	470	-157	637	678	652	-282	633	530	609	-18.7	824	517
Capital expenditure	56.9	60.4	54.9	67.9	54.4	60.4	60.7	71.7	93.6	81.9	102	103	105	113	82.0	62.2	63.3	66.7	62.0	66.4
Free cash flow	1,232	301	1,048	556	713	-196	451	323	376	-239	535	574	548	-395	551	468	546	-85.4	762	451
Buybacks	182	645	320	190	218	122	8.2	42.2	90.8	113	83.1	112	73.6	68.1	215	113	154	139	334	167
Dividends paid	949	248	279	277	276	275	282	280	280	280	286	283	281	285	290	286	283	284	289	282
Shares outstanding	225m	228m	227m	226m	223m	224m	225m	224m	223m	224m	223m	223m	222m	223m	220m	220m	218m	219m	214m	213m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Earnings press release for the quarter ended 30 September 2026, filed with the SEC on 29 October 2026 with a Form 8-K: the release.