T. Rowe Price

TROW · Financials · Market cap $25.4B

Q4 FY25 Oct 1 – Dec 31, 2025 reported Feb 13, 2026

Revenue$1.9B +6% year over year

Gross profit–

Operating profit$0.5B

Net profit$0.4B 23% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.9	100%	+6%
Asset Management1	1.7	89%	+4%
Administrative Distribution…	0.1	5%	−1%
Operating expenses	−1.5	76%	+7pp
Operating profit	0.5	24% margin	−7pp
Tax	−0.2
Net profit	0.4	23%	−1pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.9	100%	+6%
Asset Management1	1.7	89%	+4%
Administrative Distribution…	0.1	5%	−1%
Compensation and related	−0	38%	+0pp
Net operating income	−0.6	34%	+0pp
Technology, occupancy, and facility	−0.2	10%	+0pp
Net gains on investments	−0.2	9%	+0pp
General, administrative, and other	−0.1	5%	+0pp
Other	−0.2	13%	+0pp
Operating profit	0.6	34% margin	+0pp
Tax	−0.2
Net profit	0.6	34%	+0pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.7	100%	−1%
Asset Management1	1.6	94%	+0%
Administrative Distribution…	0.1	6%	+1%
Compensation and related	−0	42%	+0pp
Net operating income	−0.5	28%	+0pp
Technology, occupancy, and facility	−0.2	10%	+0pp
Net gains on investments	−0.2	10%	+0pp
General, administrative, and other	−0.1	6%	+0pp
Other	−0.2	14%	+0pp
Operating profit	0.5	28% margin	−5pp
Tax	−0.2
Net profit	0.5	29%	+1pp

All figures in billions of U.S. dollars, for Q3 FY24 (period ends Sep 30, 2024).
Item	Value	Share of revenue	Year over year
Revenue	1.8	100%	+7%
Asset Management1	1.6	89%	+12%
Administrative Distribution and…	0.1	6%	+5%
Compensation and related	−-0.1	38%	+0pp
Net operating income	−0.6	34%	+0pp
Technology, occupancy, and facility	−0.2	9%	+0pp
Net gains on investments	−0.1	7%	+0pp
General, administrative, and other	−0.1	6%	+0pp
Other	−0.3	17%	+0pp
Operating profit	0.6	34% margin	+0pp
Tax	−0.2
Net profit	0.6	34%	+7pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 13, 2026	$1.9B	+6%	26%	$0.4B	23%
Q3 FY25	Sep 30, 2025	Oct 31, 2025	$1.9B	+6%	32%	$0.6B	34%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 1, 2025	$1.7B	−1%	29%	$0.5B	29%
Q3 FY24	Jul 1 – Sep 30, 2024	Nov 1, 2024	$1.8B	+7%	33%	$0.6B	34%