TROW Q3 2019 Earnings Report — T. Rowe Price Group, Inc. Revenue & Financial Results | Market Cap Arena

T. Rowe Price Group, Inc.TROW

Q3 2019 Earnings

Reported October 24, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.4B	—	2.3%
Op. Income	$659M	—	$641M	—	2.9%
Gross Margin	60.1%	—	59.6%	—	0.5pp
Net Margin	38.3%	—	41.8%	—	-3.5pp
EPS (Diluted)	$2.23	—	$2.30	—	-3.0%
Free Cash Flow	$498M	—	$514M	—	-3.2%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$569M
GROSS PROFIT	$858M
R&D Expenses	$0
Selling & Marketing	$17M
General & Administrative	$182M
SG&A Expenses	$199M
Other Expenses	$0
Operating Expenses	$199M
Cost & Expenses	$768M
OPERATING INCOME	$659M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$43M
INCOME BEFORE TAX	$702M
Income Tax Expense	$157M
Net Income from Continuing Ops	$545M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$546M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$532M
D&A	$46M
EBIT	$659M
EBITDA	$705M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$569M
GROSS PROFIT	$858M
R&D Expenses	$0
Selling & Marketing	$17M
General & Administrative	$182M
SG&A Expenses	$199M
Other Expenses	$0
Operating Expenses	$199M
Cost & Expenses	$768M
OPERATING INCOME	$659M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$43M
INCOME BEFORE TAX	$702M
Income Tax Expense	$157M
Net Income from Continuing Ops	$545M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$546M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$532M
D&A	$46M
EBIT	$659M
EBITDA	$705M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$545M
Depreciation & Amortization	$46M
Stock-Based Compensation	$45M
Deferred Income Tax	$0
Other Non-Cash Items	-$258M
Change in Working Capital	$174M
OPERATING CASH FLOW	$552M
Capital Expenditure	-$54M
Acquisitions (Net)	$0
Purchases of Investments	-$3M
Sales/Maturities of Investments	$8M
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$48M
Net Debt Issuance	$0
Common Stock Repurchased	-$173M
Common Dividends Paid	-$183M
Other Financing Activities	$197M
NET CASH FROM FINANCING	-$122M
FREE CASH FLOW	$498M
Net Change in Cash	$381M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$0
Net Receivables	$621M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$790M
Goodwill	$666M
Intangible Assets	$0
Long-Term Investments	$4.9B
Tax Assets	$0
Other Non-Current Assets	$255M
TOTAL NON-CURRENT ASSETS	$6.6B
TOTAL ASSETS	$9.4B
Account Payables	$203M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$253M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$1.5B
Common Stock	$47M
Additional Paid-In Capital	$655M
Retained Earnings	$6.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$49M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.8B
Minority Interest	$1.1B
TOTAL EQUITY	$7.9B
TOTAL LIABILITIES & EQUITY	$9.4B
Total Debt	$146M
Net Debt	-$2.1B