AI-extracted from the 10-Q filed 2026-07-31 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net revenues rose 10.7% YoY to $1,907.4M as average AUM grew 15.7% to $1,837.7B, but the effective fee rate slipped to 38.1bps from 39.6bps on mix shift toward lower-fee products.
Biggest Revenue Drivers
Investment advisory fees$1,744.8M+11.3% YoY
Higher overall markets increased average AUM by 15.7%
Administrative, distribution, servicing, and other fees$144.2M-3.7% YoY
Reflects a reporting change moving managed-account/model-delivery revenue into investment advisory fees, plus lower recordkeeping fees
Biggest Revenue Drivers
Total revenue: $1,907.4M+10.7% YoY
Investment advisory fees$1,744.8M+11.3% YoY
Higher overall markets increased average AUM by 15.7%
Within Investment advisory fees
Equity$1,011.9M+9.6% YoY
Average equity AUM rose 13.0% to $886.6B
Multi-asset$529.5M+16.1% YoY
Average multi-asset AUM rose 21.5% to $671.2B
Administrative, distribution, servicing, and other fees$144.2M-3.7% YoY
Reflects a reporting change moving managed-account/model-delivery revenue into investment advisory fees, plus lower recordkeeping fees
Largest Expense Items
Compensation and related costs$823.4M+13.2% YoY
Higher interim bonus accrual and a market-related increase in deferred compensation liabilities as stronger markets lifted indexed investment values
Technology, occupancy, and facility costs$205.9M+5.6% YoY
Higher technology costs including hosted solutions, cloud services, and depreciation
Distribution and servicing costs$106.1M+14.7% YoY
Higher average AUM distributed through third-party intermediaries
General, administrative, and other costs$104.9M+11.7% YoY
Higher travel costs and certain non-recurring administrative costs
Margins: GAAP operating margin was 28.3% in Q2 2026 versus 27.8% in Q2 2025, as net revenue growth outpaced operating expense growth, primarily on higher investment advisory fees.
Watch Items from the Filing
In April 2026 it was determined that no contingent consideration would be earned on the OHA acquisition earnout (up to $900M potential), indicating cumulative 2022-2026 revenue targets were not met.
Investment advisory effective fee rate fell to 38.1bps from 39.6bps YoY as client flows shifted the AUM mix toward lower-fee products and asset classes.
Accrued carried interest added only $15.2M to Q2 revenue versus $36.5M in Q2 2025, reflecting weaker relative investment performance in credit strategies.
Average associate headcount fell 6.6% YoY to 7,535 amid an ongoing restructuring program that recognized $6.7M of severance-related charges in the quarter ($16.7M YTD).
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
7 transactions in TROW reported by 5 members of Congress under the STOCK Act, most recent trade Mar 20, 2026. Reported transactions, not recommendations.
About PRICE T ROWE GROUP INC (TROW): stock profile, AI score and financials
PRICE T ROWE GROUP INC (TROW) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores TROW at 68.8/100 on a composite quality score built from its SEC filings, placing it at rank #282 of 2,925 stocks — the top 10% of the AI-ranked universe. TROW scores in the top quartile across balance sheet strength (92.9), profitability (87.8), revenue scale (83.3). Areas of concern include earnings quality (25.4), which score below median versus the broader universe. Shareholder dilution risk is elevated at 32.1/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), PRICE T ROWE GROUP INC reports quarterly revenue of $1.9B, net income of $632.0M, an operating margin of 28.3%. Top institutional holders of TROW by reported 13-F value include BlackRock, STATE STREET, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. TROW trades on the Nasdaq exchange and files with the SEC under CIK 1113169. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TROW daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for PRICE T ROWE GROUP INC directly from SEC EDGAR.