T. Rowe Price Group Inc (TROW) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of T. Rowe Price Group Inc stock $212, price $109, upside +94.7%, quality 75 out of 100. Rating: strongly undervalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $74.33 – $177.67 · fair‑value band $85.43 – $286.25 · the $108.71 price screens below the $211.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds.
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The firm invests in the public equity and fixed income markets across the globe. It employs fundamental and quantitative analysis with a bottom-up approach. The firm utilizes in-house and external research to make its investments.
It employs socially responsible investing with a focus on environmental, social, and governance issues. It makes investment in late-stage venture capital transactions and usually invests between $3 million and $5 million.
The firm was previously known as T. Rowe Group, Inc. and T. Rowe Price Associates, Inc. T. Rowe Price Group, Inc. was founded in 1937 and is based in Baltimore, Maryland, with additional offices in North America, Europe, Asia, Australia.
Stock analysis
T. Rowe Price Group Inc (TROW) currently trades at $108.71, while our model-based Fair Value estimate is $211.70, implying the stock looks roughly 49% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $236.39 per share, and 7 of the 13 models we run sit above the $108.71 price.
Bear case: the Multiples group reads lowest at $32.98, and 6 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: $85.43 (bear) to $286.25 (bull), the price of $108.71 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 75/100 (high quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
T. Rowe Price Group Inc reported revenue of $7.3B in FY2025 versus $7.7B in FY2021, a compound −1.2%/yr. Reported net income was $2.1B in FY2025, compounding −9.3%/yr from FY2021.
Key figures
Market cap $23.3B Large · P/E ratio 11.0 · P/S ratio 3.02 · EPS (TTM) $9.88 · Dividend yield 4.8% · Net margin 28.4% · Return on equity 18.2% · Return on assets (EBIT) 19.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 81 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 95%, TROW screens cheaper than that median.
Fair Value models
Bear$85.43Fair Value $211.70Bull$286.25
Price $108.71 · Upside +94.7%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($4.00 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 2 officers or directors sold shares worth $1.4M and none bought.
SaleJoshua B NelsonVice President10,000 shares at $111.82$1.1MAug 25, 2026
SaleStephon A. JacksonVice President3,000 shares at $102.56$307,680May 13, 2026
SaleArif HusainVP4,260 shares at $101.96$434,350Dec 10, 2025
Plus 33 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Start year 2020 (pandemic). Over 10 years: +5.7% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+3.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.0%
Dividend (yield on the price)4.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1.9% vs 7.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.33% → 30%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +1.2% a year for the price and −0.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Moderate moat from brand and margins supports the asset manager, but industry competition and thin signals limit long-term durability.
Main risk: Ongoing fee pressure across asset management risks eroding margins and limiting revenue from traditional strategies.
T. Rowe Price generates higher revenue from elevated average assets under management even with recent outflows in its active equity products. The firm is scaling its ETF and separately managed account offerings to meet demand for tax-efficient and personalized solutions. Our models see it as undervalued. Will the growth in these newer channels more than offset the challenges facing traditional strategies?
Compare T. Rowe Price Group Inc with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 593 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside+94.7% · Top 25%
Profitability
Return on equity (12 months)18.2% · Above median
Return on assets14.3% · Top 25%
Net margin (12 months)28.4% · Below median
Operating margin (12 months)38.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)5.9% · Below median
Dividend yield (12 months)4.8% · Above median
Valuation Multiplesvs Asset Management median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "T. Rowe Price Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/TROW
Frequently asked questions
Is T. Rowe Price Group Inc (TROW) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $211.70 versus a price of $108.71, about +95% upside (undervalued).
What is the fair value of TROW?
Our model-based fair value for T. Rowe Price Group Inc is $211.70 (as of Nov 3, 2026), built from audited fundamentals. The current price: $108.71.
What is the quality score of TROW?
T. Rowe Price Group Inc has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for T. Rowe Price Group Inc (TROW)?
Our model-based price target is the fair value of $211.70 (as of Nov 3, 2026) from 13 valuation models. Cautious scenario $85.43, optimistic scenario $286.25. It is a calculation from audited fundamentals, not an analyst target.
What is the T. Rowe Price Group Inc stock forecast for 2026?
Our models put fair value at $211.70, about +95% upside versus a price of $108.71 (undervalued). Cautious scenario $85.43, optimistic scenario $286.25. The calculation is refreshed regularly with new filings.
What is the revenue of T. Rowe Price Group Inc (TROW)?
T. Rowe Price Group Inc reported trailing-twelve-month revenue of about $7.7B (latest available figure, as of Nov 3, 2026).
Does T. Rowe Price Group Inc pay a dividend?
T. Rowe Price Group Inc currently shows a dividend yield of 4.76% relative to its recent price (as of Nov 3, 2026).
What growth is priced into T. Rowe Price Group Inc (TROW)?
For today's price to be fair in a discounted-cash-flow model, T. Rowe Price Group Inc would have to grow free cash flow by +3.6 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.3 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of TROW use?
Our models discount T. Rowe Price Group Inc at 10.3 %: a base by market capitalisation (large), damped by beta 1.45, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For T. Rowe Price Group Inc that is +3.6 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has T. Rowe Price Group Inc (TROW) delivered so far?
Over the past 5 years revenue at T. Rowe Price Group Inc grew +3.3 % a year. The price currently implies +3.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of T. Rowe Price Group Inc (TROW) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into T. Rowe Price Group Inc (+3.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of T. Rowe Price Group Inc (TROW)?
The free-cash-flow yield on the price is 6.35 %: that much free cash flow T. Rowe Price Group Inc produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of T. Rowe Price Group Inc (TROW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For T. Rowe Price Group Inc it is $211.70 per share (as of Nov 3, 2026), against a price of $108.71. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is T. Rowe Price Group Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, TROW trades below its calculated fair value: price $108.71, fair value $211.70, a gap of about +95% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TROW?
No. The price is what the market pays today ($108.71); the fair value is what the company's own numbers justify ($211.70). For T. Rowe Price Group Inc the two are $102.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is T. Rowe Price Group Inc worth?
The market values T. Rowe Price Group Inc at about $23.3B (market capitalisation, as of Nov 3, 2026). Per share that is $108.71; our models calculate a fair value of $211.70 per share.
What do the bullish and bearish scenarios say about TROW?
Our models span a range for T. Rowe Price Group Inc: cautious scenario $85.43, base $211.70, optimistic $286.25 per share (as of Nov 3, 2026, price $108.71). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TROW?
T. Rowe Price Group Inc trades at a price-to-earnings ratio of 11.0 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $211.70 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 7 of the years ex one-offs: 14.2. Other multiples: PEG 2.1, P/B 2.1, P/S 3.0, EV/EBITDA 6.5.
What is the PEG ratio of TROW?
The PEG ratio of T. Rowe Price Group Inc is 2.15 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of T. Rowe Price Group Inc (TROW)?
Balance-sheet figures for T. Rowe Price Group Inc (as of Nov 3, 2026): return on equity 18.2%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is TROW from its 52-week high?
T. Rowe Price Group Inc trades at $108.71, about 10% below its 52-week high of $120.18 and 29% above the low of $84.12 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $211.70 is for.
Which stocks are comparable to T. Rowe Price Group Inc?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is T. Rowe Price Group Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $108.71, calculated fair value $211.70 (+95%), Quality Score 75/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TROW calculated?
We run T. Rowe Price Group Inc through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $211.70, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. T. Rowe Price Group Inc currently trades 49% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of T. Rowe Price Group Inc (TROW)?
The closing price on Nov 5, 2026 was $108.71. Our model-based fair value is $211.70, about +95% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with T. Rowe Price Group Inc right now?
The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide ($85.43 to $286.25). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of T. Rowe Price Group Inc (TROW) come from?
Earnings per share at T. Rowe Price Group Inc grew +7.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.7 %, EBIT margin −3.9 %, tax rate +2.1 %, residual (interest, one-offs) +1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of T. Rowe Price Group Inc
How large is the market capitalisation of T. Rowe Price Group Inc (TROW)?
The market capitalisation of T. Rowe Price Group Inc is $23.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of T. Rowe Price Group Inc (TROW)?
The price-to-sales ratio of T. Rowe Price Group Inc is 3.02 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of T. Rowe Price Group Inc (TROW)?
Earnings per share at T. Rowe Price Group Inc are $9.88 (price ÷ EPS = P/E 11.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of T. Rowe Price Group Inc (TROW)?
The dividend yield of T. Rowe Price Group Inc is 4.8% (payout 52.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of T. Rowe Price Group Inc (TROW)?
The net margin of T. Rowe Price Group Inc is 28.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of T. Rowe Price Group Inc (TROW)?
The return on equity (ROE) of T. Rowe Price Group Inc is 18.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of T. Rowe Price Group Inc (TROW)?
On an EBIT basis the return on assets of T. Rowe Price Group Inc is 19.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of T. Rowe Price Group Inc (TROW)?
The operating margin of T. Rowe Price Group Inc is 38.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at T. Rowe Price Group Inc (TROW)?
Revenue at T. Rowe Price Group Inc is growing +5.9% versus a year earlier (3y avg +4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at T. Rowe Price Group Inc (TROW)?
Earnings per share at T. Rowe Price Group Inc are growing −2.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does T. Rowe Price Group Inc (TROW) hold?
T. Rowe Price Group Inc holds more cash than debt, $2.5B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 3, 2026