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 22,983 - -
Change - -45.93% -1.25% 4.4% -11.07% 2.86% - -
Enterprise Value (EV) 1 43,546 22,615 21,999 22,474 18,965 18,737 18,071 17,022
Change - -48.07% -2.73% 2.16% -15.61% -1.2% -3.55% -5.81%
P/E 15x 16.3x 13.9x 12.4x 11.1x 10.1x 9.83x 10.4x
PBR 5x 2.77x 2.54x 2.44x 2.06x 2.27x 2.04x 1.69x
PEG - -0.3x 0.9x 0.7x 11.29x 0.7x 3.55x -1.78x
Capitalization / Revenue 5.87x 3.76x 3.73x 3.54x 3.02x 2.96x 2.89x 2.94x
EV / Revenue 5.68x 3.49x 3.41x 3.17x 2.57x 2.42x 2.27x 2.18x
EV / EBITDA 11.1x 8.3x 8.74x 7.64x 6.07x 5.98x 5.59x 5.41x
EV / EBIT 11.7x 9.04x 9.72x 8.37x 6.97x 6.69x 6.45x 6.68x
EV / FCF 13.6x - 24.1x 17.8x - 8.8x 7.75x 8.25x
FCF Yield 7.38% - 4.14% 5.62% - 11.4% 12.9% 12.1%
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% 4.82% 4.88% 5.03%
EPS 2 13.12 6.7 7.76 9.15 9.24 10.66 10.96 10.32
Distribution rate 32.9% 71.6% 62.9% 54.2% 55% 48.7% 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 2,228 2,308 -
Net Debt 1 -1,523 -1,756 -2,067 -2,650 -3,378 -4,246 -4,911 -5,960
Reference price 2 196.64 109.06 107.69 113.09 102.38 107.74 107.74 107.74
Nbr of stocks (in thousands) 2,29,198 2,23,465 2,23,470 2,22,159 2,18,237 2,13,316 - -
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.($)
15.55x3.74x - 2.27% 17TCr
19.54x5.56x11.89x2.14% 17TCr
17.64x7.7x - 1.42% 11TCr
23.17x12.1x20.75x4.21% 7.62TCr
14.34x5.42x - 1.83% 5.27TCr
12.11x1.86x5.7x1.21% 4.87TCr
5.2x5.38x3.87x3.51% 3.67TCr
14.49x5.28x16.45x1.82% 3.38TCr
Average 15.25x 5.88x 11.73x 2.3% 8.66TCr
Weighted average by Cap. 16.74x 5.88x 12.54x 2.25%

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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