Item 2.02 - Results of Operations and Financial Condition: T. Rowe Price Group issued an earnings release on February 4, 2026 reporting financial results for the three and twelve months ended December 31, 2025 Exhibit 99.1: The earnings release is attached as Exhibit 99.1 and incorporated by reference into the filing Filing Date: Current Report filed on February 4, 2026 for the earliest event…

Our analysis rates this filing CAUTIOUS. T. Rowe Price faces ELEVATED concerns driven by material and accelerating client outflows that directly threaten its primary revenue driver (AUM-based fees). The $56.9 billion annual outflow is particularly concerning given strong market conditions in 2025,…

Concern level: HIGH (6.8/10). Key factors: Significant net client outflows of $56.9 billion in 2025 - material AUM erosion indicating competitive market share losses or performance/service issues; Q4 2025 outflows accelerated to $25.5 billion (vs. ~$8B quarterly average), suggesting deteriorating client retention momentum entering 2026; Investment advisory fee growth of only 3.2% YoY despite…

Notable risk changes: Net client outflows of $56.9 billion in 2025 represent material AUM erosion - this is the most significant negative development disclosed, indicating competitive market share losses or performance/service issues; Q4 2025 outflows accelerated to $25.5 billion (vs. implied ~$8B quarterly average), suggesting deteriorating client retention momentum entering 2026; Investment advisory fee growth of…

Not disclosed - no analyst consensus estimates provided in this filing.

The model predicts TROW will underperform the S&P 500 by about 0.0% over 30 days (model confidence 85%). This is model analysis for research, not investment advice.