PRICE T ROWE GROUP INC (TROW)

Investment Advice

Latest Price

$105.80

TTM P/E

10.62

Normalized P/E

11.90

Div Yield

4.86%

Book Value

51.41

P/B Ratio

2.06

Valuation metrics

EPS: $9.24

Book value / share: $49.69

Formula: √(22.5 × EPS × BVPS)

Graham Number

$101.64

4% downside

Norm. op. income: $2.4B (median of 7yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$98.86

7% downside

Base FCF: $1.5B (median of recent 5yr)

Growth: 21%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$395.05

+273% upside

EPS: $9.24

Target P/E: 12×

Formula: EPS × P/E

P/E Fair Value

$110.88

+5% upside

89.6% held by institutions

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