TROW

Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 12.32 13.84 16.21 14.84 15.02
Price to Sales 0.02 0.02 3.80 5.81 5.58
Book Value Per Common Share 46.43 42.41 39.11 39.82 33.68
Price to Book 2.44 2.54 2.79 4.94 4.49
Price to Operating Cash Flow 14.95 19.80 10.45 12.91 18.05
Price to Free Cash Flow 19.96 26.49 11.62 13.87 20.32
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Price to Earnings 35.64 43.08 42.73 41.26 48.77 61.69 62.22 53.63
Price to Sales 11.89 12.33 0.01 13.56 0.02 0.02 18.52 21.39
Book Value Per Common Share 49.45 48.02 46.76 46.14 43.76 40.31 39.68 35.17
Price to Book 2.08 2.01 1.96 2.36 2.79 2.80 3.81 4.88
Price to Operating Cash Flow 36.96 40.10 32.27 37.11 42.78 49.51 31.27 39.28
Price to Free Cash Flow 41.24 45.43 37.07 44.20 50.97 56.17 32.91 41.75
Enterprise Value to EBITDA 321337.26 305240.00 371301.96 1085631.83 331380.30

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY 17.99 15.60 -49.21 31.45
Revenue YoY 14.65 20895.93 -15.43 23.61
EBITDA YoY
Net Profit YoY 17.41 14.81 -49.47 29.93
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Earning YoY 28.57 4.19 -18.56 5.60 36.61 -24.69 -24.06
Revenue YoY 9.88 -99.89 90642.61 -99.88 12.21 70909.13 1.98
EBITDA YoY 0.47 -73.05
Net Profit YoY 28.13 0.47 -16.51 2.39 36.13 -25.78 -24.22

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 11.89 9.22 7.77 6.72 9.40
Quick Ratio
Current Ratio
Debt to Equity -0.13 -0.14 -0.14 -0.15 -0.12
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Cash Per Common Share 16.57 13.89 12.76 14.28 10.81 9.33 8.75 12.43
Quick Ratio 11.44 10.95 10.91
Current Ratio 11.44 10.95 10.91
Debt to Equity 0.23 0.21 -0.15 0.22 -0.15 -0.15 -0.15 -0.14
Long-Term Debt to Equity 0.20 0.18 0.19

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 15.59 14.57 13.38 24.65 22.26
ROE 13.55 12.54 11.46 20.88 19.69
Gross Margin
Operating Margin 0.21 0.23 16.97 55.33 59.82
EBITDA Margin
Net Profit Margin 0.13 0.13 24.01 40.18 38.23
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
ROA 4.29 3.44 3.51 4.29 4.46 3.47 4.60 6.96
ROE 5.28 4.17 2.98 5.24 3.81 2.96 3.90 5.99
Gross Margin 53.06 48.06 52.68
Operating Margin 36.89 29.57 0.05 36.50 0.07 0.06 14.13 61.86
EBITDA Margin 36.89 40.34 36.50 17.06 64.54
Net Profit Margin 33.35 28.60 0.03 32.90 0.04 0.03 30.48 41.02

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 44.88 57.95 47.88

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 13,472,000.00 12,278,800.00 11,643,300.00 12,509,000.00 10,659,000.00
      Cash and Short-Term Investments 2,649,800.00 2,066,600.00 1,755,600.00 1,523,100.00 2,151,700.00
            Cash and Cash Equivalents 2,649,800.00 2,066,600.00 1,755,600.00 1,523,100.00 2,151,700.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 877,400.00 807,900.00 748,700.00 1,058,300.00 863,100.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 1,203,800.00 1,047,700.00 1,035,100.00 937,400.00 813,000.00
      Goodwill 2,642,800.00 2,642,800.00 2,642,800.00 2,693,200.00 665,700.00
      Intangible Assets 368,100.00 507,300.00 629,800.00 913,400.00 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0
Liabilities -2,021,900.00 -1,987,600.00 -1,956,400.00 -2,255,300.00 -1,390,300.00
      Payables and Expenses 0 0 0 0 0
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 0 0 0 0 0
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 0 0 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 15,493,900.00 14,266,400.00 13,599,700.00 14,764,300.00 12,049,300.00
   Shareholders Equity 10,345,400.00 9,505,100.00 8,839,500.00 9,022,700.00 7,707,000.00
      Capital Stock 44,600.00 44,800.00 44,900.00 45,800.00 45,600.00
      Share Premium 311,900.00 431,700.00 437,900.00 919,800.00 654,600.00
      Retained Earnings 10,040,600.00 9,076,100.00 8,409,700.00 8,083,600.00 7,029,800.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -51,700.00 -47,500.00 -53,000.00 -26,500.00 -23,000.00
   Minority Interest 160,700.00 192,000.00 190,700.00 248,700.00 0
Investments 3,877,900.00 3,362,600.00 3,287,900.00 4,033,800.00 4,113,900.00
Debt 278,700.00 308,500.00 329,600.00 249,200.00 154,100.00
Common Shares Outstanding 0 0 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 1,561,900,000.00 1,362,300,000.00 6,488,400.00 7,671,900.00 6,206,700.00
Operating Expenses 4,776,300.00 4,496,500.00 4,131,100.00 3,986,300.00 3,493,800.00
   Selling, General and Administrative Expenses 563,400.00 535,500.00 509,500.00 483,800.00 399,800.00
   Other Operating Expenses 4,212,900.00 3,961,000.00 3,621,600.00 3,502,500.00 3,094,000.00
Operating Income 2,333,300.00 1,986,200.00 2,373,700.00 3,710,000.00 2,745,700.00
Net Non-Operating Income 968,300.00 1,118,100.00 -1,272,300.00 534,600.00 967,100.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
EBT 3,301,600.00 3,104,300.00 1,101,400.00 4,244,600.00 3,712,800.00
Income Tax 683,800.00 654,600.00 498,600.00 896,100.00 718,900.00
Net Income Including Non-Controlling Interests 2,135,800.00 1,835,700.00 1,449,600.00 3,098,500.00 2,523,300.00
Net Income Non-Controlling Interests -35,700.00 -47,000.00 108,300.00 -15,600.00 -150,600.00
Net Income 2,100,100.00 1,788,700.00 1,557,900.00 3,082,900.00 2,372,700.00
EBIT 3,301,600.00 3,104,300.00 1,101,400.00 4,244,600.00 3,712,800.00
Deprecation and Amortization 0.00 0.00 0.00 0.00 0.00
EPS 0.01 0.01 0.01 0.01 0.01
Diluted EPS 0.01 0.01 0.01 0.01 0.01
Average Shares Outstanding Basic 222,800.00 224,100.00 226,000.00 226,600.00 228,800.00
Average Shares Outstanding Diluted 223,300.00 224,800.00 227,100.00 228,800.00 231,200.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 1,685,600.00 1,219,100.00 2,359,400.00 3,452,000.00 1,918,900.00
   Operating Net Income 2,135,800.00 1,835,700.00 1,449,600.00 3,098,500.00 2,523,300.00
   Deprecation and Amortization 0 0 0 0 0
   Deferred Income Tax -88,000.00 8,600.00 -207,000.00 -56,300.00 13,700.00
   Share Based Compensation 247,300.00 265,600.00 285,400.00 274,600.00 246,200.00
   Change in Working Capital 5,500.00 193,600.00 -139,900.00 67,400.00 91,100.00
   Other Operating Activities -615,000.00 -1,084,400.00 971,300.00 67,800.00 -955,400.00
Investing Cash Flow -177,500.00 128,200.00 -41,500.00 -1,098,100.00 -36,300.00
   Capital Expenditure -423,400.00 -307,900.00 -237,600.00 -239,100.00 -214,600.00
   Net Purchase/Sale of PPE -423,400.00 -307,900.00 -237,600.00 -239,100.00 -214,600.00
   Net Purchase/Sale of Investments Net 261,700.00 492,900.00 204,800.00 1,608,700.00 232,200.00
   Net Purchase/Sale of Business 0 0 0 -2,450,800.00 0
   Other Investing Activities 407,600.00 251,100.00 228,900.00 222,200.00 160,700.00
Financing Cash Flow -936,600.00 -1,078,600.00 -2,076,900.00 -2,988,800.00 -1,486,300.00
   Net Issuance/Repayment of Debt 0 0 0 0 0
   Net Issuance/Repurchase of Equity 337,200.00 254,400.00 849,800.00 1,138,500.00 1,201,900.00
   Dividends Paid 1,135,600.00 1,121,700.00 1,107,400.00 1,701,900.00 845,800.00
   Other Financing Activities -2,409,400.00 -2,454,700.00 -4,034,100.00 -5,829,200.00 -3,534,000.00
Net Change in Cash 569,100.00 269,100.00 250,500.00 -632,300.00 398,200.00
   Cash at Beginning of Period 2,143,800.00 1,874,700.00 1,624,200.00 2,256,500.00 1,858,300.00
   Cash at End of Period 2,712,900.00 2,143,800.00 1,874,700.00 1,624,200.00 2,256,500.00
Free Cash Flow 1,262,200.00 911,200.00 2,121,800.00 3,212,900.00 1,704,300.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 14,730,400.00 14,342,200.00 13,993,700.00 13,472,000.00 13,705,900.00 12,854,000.00 12,278,800.00 12,156,600.00 11,643,300.00 12,348,000.00 12,509,000.00 10,764,400.00 10,659,000.00
   Current Assets 4,534,200.00 3,920,700.00 0 0 4,063,500.00 0 0 0 0 0 0 0 0
      Cash and Short-Term Investments 3,634,800.00 3,058,900.00 2,836,700.00 2,649,800.00 3,173,500.00 2,416,500.00 2,066,600.00 2,094,100.00 1,755,600.00 1,997,500.00 1,523,100.00 2,830,100.00 2,151,700.00
            Cash and Cash Equivalents 3,634,800.00 3,058,900.00 2,836,700.00 2,649,800.00 3,173,500.00 2,416,500.00 2,066,600.00 2,094,100.00 1,755,600.00 1,997,500.00 1,523,100.00 2,830,100.00 2,151,700.00
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 899,400.00 861,800.00 934,600.00 877,400.00 890,000.00 883,000.00 807,900.00 730,400.00 748,700.00 919,500.00 1,058,300.00 885,900.00 863,100.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0.00 0.00 0 0 0.00 0 0 0 0 0 0 0 0
   Non-Current Assets 10,196,200.00 10,421,500.00 0 0 9,642,400.00 0 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 1,373,100.00 1,400,100.00 1,416,800.00 1,203,800.00 1,158,600.00 1,081,300.00 1,047,700.00 1,030,700.00 1,035,100.00 900,800.00 937,400.00 814,100.00 813,000.00
      Goodwill 2,642,800.00 2,642,800.00 2,642,800.00 2,642,800.00 2,642,800.00 2,642,800.00 2,642,800.00 2,642,800.00 2,642,800.00 2,643,900.00 2,693,200.00 665,700.00 665,700.00
      Intangible Assets 294,600.00 316,900.00 343,700.00 368,100.00 395,200.00 481,800.00 507,300.00 603,800.00 629,800.00 886,300.00 913,400.00 0 0
      Long-Term Investments 4,134,900.00 4,301,500.00 0 0 3,921,300.00 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 1,750,800.00 1,760,200.00 0 0 1,524,500.00 0 0 0 0 0 0 0 0
Liabilities 2,761,000.00 2,529,300.00 -2,461,400.00 -2,021,900.00 2,489,800.00 -2,187,800.00 -1,987,600.00 -2,082,700.00 -1,956,400.00 -2,231,000.00 -2,255,300.00 -1,743,300.00 -1,390,300.00
   Current Liabilities 396,200.00 357,900.00 0 0 372,400.00 0 0 0 0 0 0 0 0
      Payables and Expenses 396,200.00 357,900.00 0 0 372,400.00 0 0 0 0 0 0 0 0
            Account Payables 349,500.00 335,500.00 0 0 359,100.00 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
      Short-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Liabilities 0.00 0.00 0 0 0.00 0 0 0 0 0 0 0 0
   Non-Current Liabilities 2,364,800.00 2,171,400.00 0 0 2,117,400.00 0 0 0 0 0 0 0 0
      Long-Term Debt 455,100.00 475,200.00 0 0 288,400.00 0 0 0 0 0 0 0 0
      Other Non-Current Liabilities 1,909,700.00 1,696,200.00 0 0 1,829,000.00 0 0 0 0 0 0 0 0
Equity 11,969,400.00 11,812,900.00 16,455,100.00 15,493,900.00 11,216,100.00 15,041,800.00 14,266,400.00 14,239,300.00 13,599,700.00 14,579,000.00 14,764,300.00 12,507,700.00 12,049,300.00
   Shareholders Equity 10,814,500.00 10,560,500.00 10,394,700.00 10,345,400.00 10,249,300.00 9,784,100.00 9,505,100.00 9,045,400.00 8,839,500.00 9,054,400.00 9,022,700.00 8,008,200.00 7,707,000.00
      Capital Stock 43,700.00 44,000.00 44,200.00 44,600.00 44,400.00 44,700.00 44,800.00 44,900.00 44,900.00 45,500.00 45,800.00 45,400.00 45,600.00
      Share Premium 0 99,800.00 160,200.00 311,900.00 359,100.00 424,200.00 431,700.00 501,800.00 437,900.00 668,200.00 919,800.00 654,600.00 654,600.00
      Retained Earnings 10,817,300.00 10,461,300.00 10,242,200.00 10,040,600.00 9,885,300.00 9,364,800.00 9,076,100.00 8,550,400.00 8,409,700.00 8,372,200.00 8,083,600.00 7,338,700.00 7,029,800.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -46,500.00 -44,600.00 -51,900.00 -51,700.00 -39,500.00 -49,600.00 -47,500.00 -51,700.00 -53,000.00 -31,500.00 -26,500.00 -30,500.00 -23,000.00
   Minority Interest 1,154,900.00 1,252,400.00 160,400.00 160,700.00 966,800.00 205,400.00 192,000.00 194,400.00 190,700.00 272,200.00 248,700.00 0 0
Investments 0 0 4,174,900.00 3,877,900.00 0 3,471,700.00 3,362,600.00 3,336,600.00 3,287,900.00 3,798,800.00 4,033,800.00 4,289,500.00 4,113,900.00
Debt 455,100.00 475,200.00 472,100.00 278,700.00 288,400.00 302,100.00 308,500.00 323,900.00 329,600.00 211,800.00 249,200.00 146,000.00 154,100.00
Common Shares Outstanding 218,684.00 219,902.00 0 0 222,143.00 0 0 0 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 1,893,500.00 1,723,300.00 1,620,300,000.00 1,785,600.00 1,484,400,000.00 1,322,900,000.00 1,863,000.00 1,826,800.00
Cost Of Revenue 888,800.00 895,000.00 0 844,900.00 0 0 0 0
Interest Expense 0 0 0.00 0 0.00 0.00 0.00 0.00
Non-Interest Expense 306,200.00 318,800.00 0 289,000.00 0 0 0 0
Gross Profit 1,004,700.00 828,300.00 0 940,700.00 0 0 0 0
Operating Expenses 306,200.00 318,800.00 1,174,000.00 289,000.00 1,169,400.00 1,062,000.00 991,500.00 941,900.00
   Selling, General and Administrative Expenses 306,200.00 318,800.00 129,400.00 289,000.00 117,900.00 133,300.00 103,800.00 106,200.00
   Other Operating Expenses 0 0 1,044,600.00 0 1,051,500.00 928,700.00 887,700.00 835,700.00
Operating Income 698,500.00 509,500.00 596,300.00 651,700.00 586,600.00 484,200.00 877,400.00 893,200.00
Net Non-Operating Income 4,600.00 -9,000.00 188,300.00 7,600.00 468,900.00 302,600.00 -614,100.00 236,900.00
EBT 881,600.00 713,800.00 784,600.00 826,100.00 1,055,500.00 786,800.00 263,300.00 1,130,100.00
Income Tax 195,100.00 157,700.00 161,900.00 185,700.00 182,100.00 177,900.00 164,500.00 230,500.00
Net Income Including Non-Controlling Interests 686,500.00 556,100.00 505,100.00 640,400.00 593,400.00 441,700.00 514,400.00 764,800.00
Net Income Non-Controlling Interests -40,400.00 -50,900.00 -14,600.00 -37,400.00 -19,600.00 -20,200.00 53,500.00 -15,400.00
Net Income 631,400.00 492,800.00 490,500.00 587,500.00 573,800.00 421,500.00 567,900.00 749,400.00
EBIT 698,500.00 509,500.00 784,600.00 651,700.00 1,055,500.00 786,800.00 263,300.00 1,130,100.00
Deprecation and Amortization -45,600.00 185,700.00 0.00 -62,000.00 0.00 0.00 54,500.00 49,000.00
EBITDA 698,500.00 695,200.00 0 651,700.00 0 0 317,800.00 1,179,100.00
EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 219,400.00 220,200.00 222,300.00 222,300.00 223,600.00 224,400.00 228,200.00 227,700.00
Average Shares Outstanding Diluted 219,700.00 220,400.00 222,600.00 222,800.00 224,200.00 225,200.00 229,800.00 230,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 609,300.00 529,900.00 632,900.00 652,500.00 637,300.00 511,700.00 1,103,400.00 994,700.00
   Operating Net Income 686,500.00 556,100.00 505,100.00 640,400.00 593,400.00 441,700.00 514,400.00 764,800.00
   Deprecation and Amortization -45,600.00 185,700.00 0 -62,000.00 0 0 54,500.00 49,000.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 37,300.00 46,600.00 50,300.00 49,600.00 58,400.00 58,800.00 63,600.00 57,500.00
   Change in Working Capital 312,200.00 177,100.00 90,300.00 245,300.00 162,300.00 238,400.00 238,000.00 281,800.00
   Other Operating Activities -381,100.00 -435,600.00 -12,800.00 -220,800.00 -176,800.00 -227,200.00 232,900.00 -158,400.00
Investing Cash Flow 37,900.00 -9,000.00 -47,800.00 -61,600.00 -8,600.00 -57,500.00 3,800.00 -30,800.00
   Capital Expenditure 0 0 -82,000.00 0 -102,500.00 -60,700.00 -54,900.00 -58,800.00
   Net Purchase/Sale of PPE -63,300.00 -62,200.00 -82,000.00 -104,600.00 -102,500.00 -60,700.00 -54,900.00 -58,800.00
   Net Purchase/Sale of Investments Net 193,900.00 58,500.00 30,500.00 43,700.00 94,000.00 5,700.00 64,600.00 55,300.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities -92,700.00 -5,300.00 85,700.00 -700.00 102,400.00 58,200.00 49,000.00 31,500.00
Financing Cash Flow -98,300.00 -275,900.00 -411,400.00 -152,700.00 -267,800.00 -144,200.00 -644,100.00 -307,500.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity -153,500.00 -113,100.00 215,200.00 -73,600.00 83,100.00 8,200.00 320,100.00 259,200.00
   Dividends Paid -283,400.00 -285,600.00 289,500.00 -281,300.00 286,500.00 282,200.00 279,200.00 252,300.00
   Other Financing Activities 338,600.00 122,800.00 -916,100.00 202,200.00 -637,400.00 -434,600.00 -1,243,400.00 -819,000.00
Net Change in Cash 548,900.00 245,000.00 174,600.00 438,200.00 360,100.00 311,500.00 460,400.00 657,300.00
   Cash at Beginning of Period 3,130,500.00 2,887,500.00 2,712,900.00 2,788,800.00 2,143,800.00 1,874,700.00 1,624,200.00 2,256,500.00
   Cash at End of Period 3,683,900.00 3,130,500.00 2,887,500.00 3,228,600.00 2,503,900.00 2,186,200.00 2,084,600.00 2,913,800.00
Free Cash Flow 546,000.00 467,700.00 550,900.00 547,900.00 534,800.00 451,000.00 1,048,500.00 935,900.00