T. Rowe Price Group (T. Rowe Price Group) EBIT : $2,038 Mil (TTM As of Dec. 2023)

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What is T. Rowe Price Group EBIT?

T. Rowe Price Group's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $419 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $2,038 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. T. Rowe Price Group's annualized ROC % for the quarter that ended in Dec. 2023 was 12.72%. T. Rowe Price Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 122.07%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. T. Rowe Price Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.76%.

T. Rowe Price Group EBIT Historical Data

The historical data trend for T. Rowe Price Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

T. Rowe Price Group EBIT Chart

T. Rowe Price Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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2,387.00

2,745.70

3,710.00

2,496.00

2,038.00

T. Rowe Price Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															419.70	460.60	538.90	619.80	418.70

Competitive Comparison of T. Rowe Price Group's EBIT

For the Asset Management subindustry, T. Rowe Price Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

T. Rowe Price Group's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, T. Rowe Price Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where T. Rowe Price Group's EV-to-EBIT falls into.

T. Rowe Price Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,038 Mil.

T. Rowe Price Group (NAS:TROW) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

T. Rowe Price Group's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	1674.8 * ( 1 - 26.79% )	/	( (9540.5	+	9736.5)	/ 2 )
=	1226.12108	/	9638.5
=	12.72 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	12556.8	-	437.6	-	( 2578.7	-	max(0, 437.6	-	3330.7	+	2578.7	))
=	9540.5

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	12278.8	-	475.7	-	( 2066.6	-	max(0, 475.7	-	2874.5	+	2066.6	))
=	9736.5

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

T. Rowe Price Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1674.8	/	( ( (1049.6 + max(314.4, 0))	+	(1047.7 + max(332.2, 0)) )	/	2 )
=	1674.8	/	( ( 1364	+	1379.9 )	/	2 )
=	1674.8	/	1371.95
=	122.07 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(752	+	0	+	0)	-	(437.6	+	0	+	0)
=	314.4

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(807.9	+	0	+	0)	-	(475.7	+	0	+	0)
=	332.2

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

T. Rowe Price Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	2038	/	23276.596
	=	8.76 %

T. Rowe Price Group EBIT Related Terms

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T. Rowe Price Group (T. Rowe Price Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » T. Rowe Price Group Inc (NAS:TROW) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

1TROW:Italy TR1:Germany TR1:Germany TR1:Germany T1RO34:Brazil TROW:Austria

Address

100 East Pratt Street, Baltimore, MD, USA, 21202

Website

https://www.troweprice.com

T. Rowe Price provides asset-management services for individual and institutional investors. It offers a broad range of no-load U.S. and international stock, hybrid, bond, and money market funds. At the end of October 2023, the firm had $1.312 trillion in managed assets, composed of equity (51%), balanced (33%), fixed-income and money market (13%), and alternatives (3%) offerings. Approximately two thirds of the company's managed assets are held in retirement-based accounts, which provides T. Rowe Price with a somewhat stickier client base than most of its peers. The firm also manages private accounts, provides retirement planning advice, and offers discount brokerage and trust services. The company is primarily a U.S.-based asset manager, deriving just over 9% of its AUM from overseas.

Executives

Higginbotham Robert C.t.	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202
Thomson Andrew Justin Mackenzie	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202
William P Donnelly	director	C/O INGERSOLL RAND INC., 525 HARBOUR PLACE DRIVE, SUITE 600, DAVIDSON NC 28036
Andrew C. Mccormick	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202
Cynthia F Smith	director	100 E. PRATT STREET, BALTIMORE MD 21202
Jessica M Hiebler	officer: Principal Accounting Officer	100 E. PRATT STREET, BALTIMORE MD 21202
William J Stromberg	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202
Kimberly H Johnson	officer: COO and VP	C/O FANNIE MAE, 1100 15TH STREET, NW, WASHINGTON DC 20005
Joshua B Nelson	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202
Glenn R August	director, officer: Vice President	C/O OHA - 1114 AVENUE OF THE AMERICAS, 27TH FLOOR, NEW YORK NY 10036
Eileen P Rominger	director	100 E. PRATT STREET, BALTIMORE MD 21202
Sebastien Page	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202
Jennifer B Dardis	other: CFO and VP	100 E. PRATT STREET, BALTIMORE MD 21202
Mary K Bush	director	3509 WOODBINE STREET, CHEVY CHASE MD 20815
W. Sharps Robert	officer: Vice President	100 E. PRATT STREET, BALTIMORE MD 21202