D1 Capital Partners vs T. Rowe Price

10-Q Financial Filing Analysis for T. Rowe Price (2026-07-31)

T. Rowe Price reported strong second-quarter 2026 financial results, with net revenues rising 10.7% year-over-year to $1.91 billion and net operating income expanding 13.0% to $540.5 million. Growth was driven by an 11.3% increase in investment advisory fees to $1.74 billion, bolstered by higher market valuations that lifted average Assets Under Management (AUM) by 15.7% to $1.84 trillion. Ending AUM reached $1.89 trillion, supported by $190.2 billion in net market appreciation despite $6.5 billion in net client outflows during the quarter. Operating expenses increased 9.8% to $1.37 billion, largely due to higher compensation expenses tied to market valuation increases on deferred compensation liabilities, partially offset by ongoing cost-discipline initiatives. Net income attributable to T. Rowe Price Group rose 25.1% to $632.0 million ($2.88 diluted EPS). The firm maintained robust liquidity of $6.99 billion across cash and product investments while returning $1.07 billion to shareholders through dividends and share repurchases in the first half of 2026.

• Net revenues for Q2 2026 reached $1.907 billion, up 10.7% YoY, while net income attributable to the company grew 25.1% to $632.0 million ($2.88 per diluted share).
• Assets Under Management (AUM) reached $1.893 trillion as of June 30, 2026, benefiting from $190.2 billion in quarterly net market appreciation against $6.5 billion in net client outflows.
• Capital return remained aggressive with $1.070 billion returned to shareholders in H1 2026 ($572.3 million in dividends and $497.5 million in share repurchases).