SuperworthT. Rowe Price profit margin TROW
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- 29.3%
- Operating margin, 12 months
- 30.8%
- Net margin on a year earlier
- +0.5 pts
- Peer median
- 10.4%
Over the twelve months to Jun 30, 2026, T. Rowe Price kept 29.3% of its revenue as net profit, with an operating margin of 30.8%.
Five years earlier its net margin was 42.2%.
The median for 10 asset managers of a similar size is 10.4%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 28.5% | 29.9% | n/a |
| FY2024 | 29.6% | 32.9% | n/a |
| FY2023 | 27.7% | 30.7% | n/a |
| FY2022 | 24.0% | 36.6% | n/a |
| FY2021 | 40.2% | 48.4% | n/a |
| FY2020 | 38.2% | 44.2% | n/a |
| FY2019 | 37.9% | 42.5% | n/a |
| FY2018 | 34.2% | 44.0% | n/a |
| FY2017 | 30.9% | 43.4% | n/a |
| FY2016 | 28.8% | 41.0% | n/a |
| FY2015 | 29.1% | 45.2% | n/a |
| FY2014 | 30.9% | 47.5% | n/a |
| FY2013 | 30.1% | 47.0% | n/a |
| FY2012 | 29.2% | 45.1% | n/a |
| FY2011 | 28.1% | 44.7% | 100.0% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 29.3% | +0.5 pts | 30.8% | |
| Q1 FY26 | 28.3% | −0.1 pts | 30.7% | |
| Q4 FY25 | 28.5% | −1.1 pts | 29.9% | |
| Q3 FY25 | 28.9% | −1.5 pts | 31.7% | |
| Q2 FY25 | 28.7% | +0.1 pts | 31.8% | |
| Q1 FY25 | 28.4% | −0.7 pts | 33.0% | |
| Q4 FY24 | 29.6% | +1.9 pts | 32.9% | |
| Q3 FY24 | 30.4% | +4.9 pts | 31.1% | |
| Q2 FY24 | 28.7% | +3.9 pts | 31.2% | |
| Q1 FY24 | 29.1% | +6.2 pts | 31.3% | |
| Q4 FY23 | 27.7% | +3.7 pts | 30.7% | |
| Q3 FY23 | 25.5% | −3.9 pts | 29.2% |
Against its peers
Companies in Asset Management nearest T. Rowe Price's size, closest first, today.
| Company | Profit margin |
|---|---|
| TROWT. Rowe Price | 29.3% |
| PFGPrincipal Financial | 9.9% |
| TPGTPG | 4.7% |
| RJFRaymond James Financial | 13.6% |
| NTRSNorthern Trust | 24.8% |
| BENFranklin Resources | 8.7% |
| OWLBlue OWL Capital | 2.7% |
| CGCarlyle | 10.1% |
| ARESAres Management | 10.6% |
| AMPAmeriprise Financial | 19.9% |
| STTState Street | 23.0% |
| Peer median | 10.4% |
Where T. Rowe Price ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on T. Rowe Price
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.