Direct Answer
T. Rowe Price reports revenue across 4 product and service lines in its fiscal 2025 Form 10-K. Asset Management1 is the largest, with $6.6 billion of revenue (90% of the total), followed by Administrative Distribution Servicing and Other Fee Revenue at $594 million (8%).
How Does T. Rowe Price Make Money?
Asset Management1 supplies 90% of revenue, so T. Rowe Price's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Capital Allocation Based Income grew fastest (+74.2%) and Performance Based Advisory Fees slowest (-36.9%), so the revenue mix tilts toward Capital Allocation Based Income while that gap lasts.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Asset Management1 | $6.6 billion | $6.4 billion | 90.3% | 3.2% |
| Administrative Distribution Servicing and Other Fee Revenue | $594 million | $588 million | 8.1% | 1.0% |
| Capital Allocation Based Income | $81 million | $47 million | 1.1% | 74.2% |
| Performance Based Advisory Fees | $37 million | $59 million | 0.5% | -36.9% |
What the Segment Figures Do Not Show
The rows above add up to 100% of T. Rowe Price's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value T. Rowe Price reported in the segment note and revenue disclosures of its Form 10-K filed February 13, 2026 (accession 0001628280-26-008002), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are T. Rowe Price's main products and services?
In its fiscal 2025 Form 10-K, T. Rowe Price reports revenue for Asset Management1, Administrative Distribution Servicing and Other Fee Revenue, Capital Allocation Based Income and Performance Based Advisory Fees.
Which part of T. Rowe Price brings in the most revenue?
Asset Management1, with $6.6 billion of revenue in fiscal 2025, or 90% of the total.
Where does T. Rowe Price report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 13, 2026, alongside management's discussion of each segment's results.