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 22,317 - -
Change - -45.93% -1.25% 4.4% -11.07% -0.12% - -
Enterprise Value (EV) 1 43,546 22,615 21,999 22,474 18,965 18,129 17,567 16,629
Change - -48.07% -2.73% 2.16% -15.61% -4.41% -3.1% -5.34%
P/E 15x 16.3x 13.9x 12.4x 11.1x 9.84x 9.5x 10.4x
PBR 5x 2.77x 2.54x 2.44x 2.06x 2.11x 1.98x 1.64x
PEG - -0.3x 0.9x 0.7x 11.29x 0.7x 2.61x -1.21x
Capitalization / Revenue 5.87x 3.76x 3.73x 3.54x 3.02x 2.88x 2.81x 2.92x
EV / Revenue 5.68x 3.49x 3.41x 3.17x 2.57x 2.34x 2.21x 2.18x
EV / EBITDA 11.1x 8.3x 8.74x 7.64x 6.07x 5.84x 5.43x 5.54x
EV / EBIT 11.7x 9.04x 9.72x 8.37x 6.97x 6.51x 6.28x 6.61x
EV / FCF 13.6x - 24.1x 17.8x - 8.58x 7.44x 8.29x
FCF Yield 7.38% - 4.14% 5.62% - 11.7% 13.4% 12.1%
Dividend per Share 2 4.32 4.8 4.88 4.96 5.08 5.178 5.257 5.415
Rate of return 2.2% 4.4% 4.53% 4.39% 4.96% 4.95% 5.02% 5.18%
EPS 2 13.12 6.7 7.76 9.15 9.24 10.63 11.02 10.07
Distribution rate 32.9% 71.6% 62.9% 54.2% 55% 48.7% 47.7% 53.8%
Net sales 1 7,672 6,488 6,460 7,094 7,387 7,747 7,941 7,631
EBITDA 1 3,915 2,726 2,518 2,940 3,127 3,105 3,238 3,002
EBIT 1 3,710 2,500 2,263 2,686 2,721 2,786 2,799 2,516
Net income 1 3,002 1,522 1,744 2,044 2,036 2,295 2,336 2,142
Net Debt 1 -1,523 -1,756 -2,067 -2,650 -3,378 -4,188 -4,750 -5,688
Reference price 2 196.64 109.06 107.69 113.09 102.38 104.62 104.62 104.62
Nbr of stocks (in thousands) 229,198 223,465 223,470 222,159 218,237 213,316 - -
Announcement Date 27/1/22 26/1/23 8/2/24 5/2/25 4/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.32x5.52x11.8x2.16% 164B
13.71x3.37x - 2.57% 146B
15.75x7.18x - 1.59% 98.65B
18.64x6.58x11.94x4.6% 89.39B
24.21x7.78x11.44x0.87% 81.05B
21.05x11.27x18.06x4.49% 71.54B
13.09x5.13x - 1.99% 48.34B
10.77x1.59x4.92x1.36% 43.36B
Average 17.07x 6.05x 11.63x 2.45% 92.8B
Weighted average by Cap. 17.45x 5.99x 12.10x 2.48%

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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