Company Valuation: T. Rowe Price Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 45,070 24,371 24,066 25,124 22,343 23,418 - -
Change - -45.93% -1.25% 4.4% -11.07% 4.81% - -
Enterprise Value (EV) 1 43,546 22,615 21,999 22,474 18,965 19,172 18,507 17,457
Change - -48.07% -2.73% 2.16% -15.61% 1.09% -3.47% -5.67%
P/E 15x 16.3x 13.9x 12.4x 11.1x 10.3x 10x 10.6x
PBR 5x 2.77x 2.54x 2.44x 2.06x 2.32x 2.08x 1.72x
PEG - -0.3x 0.9x 0.7x 11.29x 0.7x 3.36x -1.82x
Capitalization / Revenue 5.87x 3.76x 3.73x 3.54x 3.02x 3.02x 2.95x 3x
EV / Revenue 5.68x 3.49x 3.41x 3.17x 2.57x 2.47x 2.33x 2.23x
EV / EBITDA 11.1x 8.3x 8.74x 7.64x 6.07x 6.12x 5.73x 5.55x
EV / EBIT 11.7x 9.04x 9.72x 8.37x 6.97x 6.84x 6.6x 6.85x
EV / FCF 13.6x - 24.1x 17.8x - 9.01x 7.94x 8.46x
FCF Yield 7.38% - 4.14% 5.62% - 11.1% 12.6% 11.8%
Dividend per Share 2 4.32 4.8 4.88 4.96 5.08 5.198 5.257 5.415
Rate of return 2.2% 4.4% 4.53% 4.39% 4.96% 4.73% 4.79% 4.93%
EPS 2 13.12 6.7 7.76 9.15 9.24 10.64 10.96 10.32
Distribution rate 32.9% 71.6% 62.9% 54.2% 55% 48.8% 48% 52.5%
Net sales 1 7,672 6,488 6,460 7,094 7,387 7,752 7,952 7,815
EBITDA 1 3,915 2,726 2,518 2,940 3,127 3,131 3,231 3,145
EBIT 1 3,710 2,500 2,263 2,686 2,721 2,803 2,803 2,549
Net income 1 3,002 1,522 1,744 2,044 2,036 2,292 2,325 2,199
Net Debt 1 -1,523 -1,756 -2,067 -2,650 -3,378 -4,246 -4,911 -5,960
Reference price 2 196.64 109.06 107.69 113.09 102.38 109.78 109.78 109.78
Nbr of stocks (in thousands) 229,198 223,465 223,470 222,159 218,237 213,316 - -
Announcement Date 27/01/22 26/01/23 08/02/24 05/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.46x5.82x12.46x2.04% 174B
15.66x3.75x - 2.26% 169B
17.89x7.77x - 1.4% 112B
24.55x12.85x22.04x3.97% 80.81B
14.52x5.46x - 1.8% 53.36B
12.3x1.9x5.82x1.19% 49.52B
5.38x5.51x3.96x3.42% 37.54B
14.64x5.32x16.57x1.8% 34.15B
Average 15.68x 6.05x 12.17x 2.24% 88.81B
Weighted average by Cap. 17.28x 6.09x 13.17x 2.2%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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