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T. Rowe Price Group, Inc.

Q2 FY26Capital Markets

T. Rowe Price Group, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹104
Market cap₹22.2K Cr
P/E11.1
Updated29 May 2026
Read4 min read

T. Rowe Price Group, Inc. Q2 FY26 key numbers

Revenue
Adjusted net revenue for Q1 2026 was over $1.8 billion, up 5% from Q1 2025, driven by higher investment advisory fees and accrued carried interest.

As stated in T. Rowe Price Group, Inc.'s Q2 FY26 earnings call transcript · published 29 May 2026. Reported figures, not investment advice.

The short version

- Adjusted net revenue for Q1 2026 was over $1.8 billion, up 5% from Q1 2025, driven by higher investment advisory fees and accrued carried interest. - Average assets under management (AUM) at $1.78 trillion, up 9.6% year-over-year. - Growth fueled by multi-asset, fixed income, and alternatives delivering positive net flows; equities, especially U.S. - Q1 2026 adjusted EPS was $2.52, up 13% year-over-year and 3% from Q4 2025.

From T. Rowe Price Group, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Moderate growth
  • Adjusted net revenue for Q1 2026 was over $1.8 billion, up 5% from Q1 2025, driven by higher investment advisory fees and accrued carried interest.
  • Average assets under management (AUM) at $1.78 trillion, up 9.6% year-over-year.
  • Growth fueled by multi-asset, fixed income, and alternatives delivering positive net flows; equities, especially U.S. growth-oriented strategies, saw outflows.
  • Target Date franchise showed solid growth with $4.9 billion net inflows, driven by blend products.
  • ETFs and SMA businesses are expanding, with ETFs generating over $2.8 billion and SMAs $962 million in net inflows in Q1.
  • New product developments and partnerships (e.g., with Goldman Sachs, Aspida) expected to broaden distribution and revenue streams by mid-2026.

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Profitability & Margins

See what T. Rowe Price Group, Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • Continued investment in strategic initiatives throughout the year, absorbing early Q1 expense management tailwinds.
  • Focus on growth areas including retirement-oriented outcomes and solutions, modern portfolio building blocks (ETF, SMA, interval funds).
  • Developing advice capabilities for individual and retirement plan services businesses.
  • Opportunistic and selective capital deployment through M&A, share repurchases, and investing in the business via seed and co-invest strategies.
  • Capacity to self-fund a significant portion of investments through efficiency improvements.
  • Expansion and product development in alternatives, including collaboration with T. Rowe Price and Goldman Sachs (e.g., co-branded target date strategies, multi-asset offerings).

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Top-ranked in Capital Markets

Ranked on what management guided this quarter

Guidance-ranked
1BSE
Rev 2Mar 3
2Nippon Life Ind.
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what T. Rowe Price Group, Inc. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • The institutional pipeline is characterized as a slow-moving, deliberate process with disciplined asset allocation and rebalancing.
  • No significant immediate shifts in institutional interest due to market dynamics; institutions maintain balanced portfolios.
  • There is strong demand from institutional investors globally, with many seeking proposals for dislocation funds amid current market conditions.
  • Interest from institutional clients is robust, with capital allocations ongoing despite broader market uncertainty.

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What the Q2 FY26 call signalled

1 of 3 strong

RevenueModerate growth
MarginMargins steady
CapexCapex planned

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Frequently Asked Questions

What were T. Rowe Price Group, Inc. Q2 FY26 results?

- Adjusted net revenue for Q1 2026 was over $1.8 billion, up 5% from Q1 2025, driven by higher investment advisory fees and accrued carried interest. - Average assets under management (AUM) at $1.78 trillion, up 9.6% year-over-year. - Growth fueled by multi-asset, fixed income, and alternatives delivering positive net flows; equities, especially U.S. - Q1 2026 adjusted EPS was $2.52, up 13% year-over-year and 3% from Q4 2025.

What is T. Rowe Price Group, Inc. share price analysis?

T. Rowe Price Group, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 11.1 with a market cap of $22,187. Investors should review the full earnings analysis for detailed insights.

Is T. Rowe Price Group, Inc. planning capital expenditure?

- Continued investment in strategic initiatives throughout the year, absorbing early Q1 expense management tailwinds.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.