T. Rowe Price exited September 2026 with $1.863 trillion in assets under management, down 1.6% sequentially but up 5.4% year over year. Third-quarter revenue rose 5.9% year over year to $2.0 billion, with adjusted operating margins declining from 40.9% in the year-ago period to 40.4%.
With $1.897 trillion in AUM at the end of August 2026, T. Rowe Price is one of the larger US-based asset managers. Retirement accounts and variable-annuity portfolios, which tend to be stickier than retail assets, account for close to two-thirds of managed assets.
The firm's equity performance remains weak, with just 25% and 26% of US fund AUM beating passive peer medians on a three- and five-year basis, respectively, at the end of June 2026.
Metric | TROW | IVZ | BEN |
|---|---|---|---|
Price/Earnings (Normalized) | 10.51 | 11.06 | 11.82 |
Price/Book Value | 2.08 | 1.25 | 1.56 |
Price/Sales | 3.11 | 1.84 | 1.99 |
Price/Cash Flow | 16.31 | 6.67 | 19.28 |
Metric | TROW | IVZ | BEN |
|---|---|---|---|
Quick Ratio | 10.60 | 6.66 | 3.10 |
Current Ratio | 10.60 | 6.66 | 3.10 |
Interest Coverage | — | −0.93 | 21.00 |
Metric | TROW | IVZ | BEN |
|---|---|---|---|
Return on Assets (Normalized) | 15.27% | 4.24% | 4.72% |
Return on Equity (Normalized) | 20.88% | 11.54% | 13.70% |
Return on Invested Capital (Normalized) | 17.25% | 5.55% | 5.31% |
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United States