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T. Rowe Price GroupTROW +0.24%81 ROC (Joel Greenblatt) % is 168.89% as of Mar. 2026, which is 20% below its 10-year median of 211.21. GuruFocus rates TROW with a GF Score™ of 81/100 and a GF Value™ of $122.58 (Fairly Valued). The stock has 9 warning signs investors should review. Among 626 Asset Management companies, T. Rowe Price Group ranks better than 58.15% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. T. Rowe Price Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 168.89%.
The historical rank and industry rank for T. Rowe Price Group's ROC (Joel Greenblatt) % or its related term are showing as below:
TROW'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 144.76 Med: 211.21 Max: 256.73
Current: 144.76
During the past 13 years, T. Rowe Price Group's highest ROC (Joel Greenblatt) % was 256.73%. The lowest was 144.76%. And the median was 211.21%.
TROW's ROC (Joel Greenblatt) % is ranked better than 58.15% of 626
companies
in the Asset Management industry
Industry Median: 63.66
vs TROW: 144.76
T. Rowe Price Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -9.10% per year.
T. Rowe Price Group (NAS:TROW) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
T. Rowe Price Group ROC (Joel Greenblatt) % Related Terms
T. Rowe Price Group ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for T. Rowe Price Group's ROC (Joel Greenblatt) % 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.
TROW vs PFG, ARES, RJF: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, T. Rowe Price Group's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, T. Rowe Price Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where T. Rowe Price Group's ROC (Joel Greenblatt) % falls into.
T. Rowe Price Group ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 168.89% mean?
T. Rowe Price Group (TROW) has a ROC (Joel Greenblatt) % of 168.89% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on T. Rowe Price Group and its competitors. This is 20% below median its historical median of 211.21. Over the past decade, T. Rowe Price Group's ROC (Joel Greenblatt) % has ranged from 144.76 to 256.73. According to the industry distribution chart, T. Rowe Price Group ranks #262 out of 626 companies in the Asset Management industry, placing it in the top 41.9%.
Is T. Rowe Price Group's ROC (Joel Greenblatt) % too high?
T. Rowe Price Group's current ROC (Joel Greenblatt) % of 168.89% is 20% below median its 10-year median of 211.21. Over the past 10 years, this metric has ranged from a low of 144.76 to a high of 256.73. The Asset Management industry median ROC (Joel Greenblatt) % is 63.66. T. Rowe Price Group's value of 168.89% is 165.3% above this industry median. Based on the distribution chart, T. Rowe Price Group ranks #262 out of 626 companies in the Asset Management industry, which is above the industry midpoint. Overall, T. Rowe Price Group has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does T. Rowe Price Group's ROC (Joel Greenblatt) % compare to PFG and ARES?
According to the Asset Management industry distribution chart, T. Rowe Price Group ranks #262 out of 626 companies for ROC (Joel Greenblatt) %. This puts T. Rowe Price Group in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 63.66. T. Rowe Price Group's value of 168.89% is 165.3% above this benchmark. Historically, T. Rowe Price Group's own ROC (Joel Greenblatt) % has ranged from 144.76 to 256.73 over the past decade. While the company's 10-year median is 211.21 vs. the industry median of 63.66, T. Rowe Price Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 63.66, based on 626 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. T. Rowe Price Group's current ROC (Joel Greenblatt) % of 168.89% is 165.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on T. Rowe Price Group and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 63.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. T. Rowe Price Group's current ROC (Joel Greenblatt) % is 168.89%, which is 20% below median its own 10-year median of 211.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is T. Rowe Price Group stock overvalued right now?
Based on GuruFocus' analysis, T. Rowe Price Group (TROW) is currently considered Fairly Valued. The stock's GF Value™ is $122.58, compared to a current price of $118.87 — trading 3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 168.89%, which is 20% below median its 10-year median of 211.21 and 165.3% above the Asset Management industry median of 63.66. T. Rowe Price Group's overall GF Score™ is 81/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For T. Rowe Price Group (TROW), the current ROC (Joel Greenblatt) % is 168.89% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is T. Rowe Price Group (TROW) Overvalued in 2026?
Based on GuruFocus' analysis, T. Rowe Price Group stock appears to be undervalued.
The current stock price of $118.87 is trading 3% below its estimated GF Value™ of $122.58.
GuruFocus considers T. Rowe Price Group to be Fairly Valued.
Key valuation signals for TROW:
ROC (Joel Greenblatt) %: 168.89% (20% below median its 10-year median of 211.21)
GF Value™: $122.58 vs. price of $118.87 (3% below fair value)
Industry Position: 165.3% above the Asset Management median (#262 of 626)
No single metric tells the full story. See the TROW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
T. Rowe Price provides asset management services for individual and institutional investors. It offers a broad range of no-load US and international stock, hybrid, bond, and money market funds. At the end of May 2026, the firm had $1.892 trillion in managed assets, composed of equity (49%), balanced (37%), fixed-income and money market (11%), and alternative (3%) offerings. Approximately two-thirds of managed assets are held in retirement-based accounts, which provide 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 US-based asset manager, deriving less than 10% of its AUM from overseas.
81GF Score
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