Invesco LTD

Investment Advice

IVZMixed8 of 11 basics passed

$29.51

-1.93%

Market cap $13.0B

$29.51

-1.93%

Market cap $13.0B

Invesco provides investment management services to retail (72% of managed assets) and institutional (28%) clients.

It is a $13.0B financial services company. Revenue grew 12.2% over the last year, and it currently loses money.

Website: invesco.com
Location: Atlanta, GA
Employees: 7 500
Sector: Financial Services

Share price · 3 years

$13.88 → $29.51+112.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $6.90B
Loss: spends more than it earns; -$309M
Free cash flow: cash left after running the business; $1.92B
Net debt: debt minus cash on hand; $788M
P/E: years of profit in the price; 9.3
Dividend: pays out 41% of profit · 28% of FCF; 4.19%
Shares: up 6% since 2016 — dilution; 453.9M
Volatility: beta vs the market — under 1 swings less; 1.65

Revenue, last 10 years

52-week range

Low $22.44$29.51High $33.31

Today's price is 65% of the way from the year's low to its high.

Valuation vs own history

P/E

15.8×

20%

P/S

1.9×

11%

EV/EBITDA

10.3×

27%

P/B

1.0×

11%

FCF yield

14.7%

68%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

-$7.23Mnet selling

Purchases$0

Sales$7.23M

Insiders trading, last 14d0 buy · 0 sell

Standing in Financial Services

Size$13.0Btop 73%
Revenue growth+2%top 85%
Net margin-8%top 94%
Return on equity-1%top 91%
P/E9.3×top 11%
Dividend yield4.19%top 14%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Profitability and Moat lag behind.

Valuation57

P/E vs own history81th pct · 0/25
FCF yield14.7% · 25/25
P/S2.5x · 20/25
EV/EBITDA17.0x · 12/25

Growth0

Revenue CAGR-1.9% · 0/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth-5.4% · 0/25

Profitability0

ROIC-5.6% · 0/25
ROE-0.5% · 0/25
Net margin-4.5% · 0/25
Operating margin-14.5% · 0/25

Health54

Altman Z1.08 · 3/25
Current ratio0.71 · 6/25
Interest coverage21.2x · 25/25
Net cash / debtD/A 3% · 20/25

Quality65

Piotroski F5/9 · 15/25
Beneish M-3.08 · 25/25
FCF conversion-621% · 0/25
Margin stabilityσ 4.9% · 25/25

Moat18

ROIC >12% years0/10 yrs · 0/25
Median gross marginn/a · 0/25
FCF-positive years9/10 yrs · 18/25
Worst-year net marginworst -11.4% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2024Financial
Became debt-free
cash now exceeds total debt
FY2021Financial
Best year on record
$1.39B net income
FY2017Financial
Positive free cash flow every year since
9-year streak
FY2016Financial
First recorded profitable year
$854M net income
FY2016Financial
Revenue already above $1B
$4.73B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$11 828 today — price return only

$6.4B revenue in FY2025

Revenue up 12.2% year over year

Positive free cash flow 9 years in a row

7 500 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (66.0%)
Revenue growing 12.2% year over year
Strong cash conversion — FCF is 27.8% of revenue
Could repay net debt from ~0.4 years of free cash flow
Interest covered 21.2× by operating earnings

Watch-outs

Not profitable — 4.5% net margin
Altman Z-Score 1.08 — elevated financial-distress risk
Loss-making in 2 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+12.2% YoY
Profitable — makes more than it spends-$309M TTM
Profit growing — earnings are higher than last year-235.0% YoY
Generates cash — cash left after running and investing$1.92B TTM
Debt under control — could handle its obligations~0.4y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$13.0B market cap
Not printing shares — share count not ballooning — you keep your slice-2.3% shares over ~5y
Proven track record — years of profitability behind it8/10 profitable years
Financially stable — balance sheet not near distressAltman Z 1.1 — distress
Pays a dividend — returns cash to shareholdersyield 4.19%
Valuation not extreme — price not wildly above earningsP/E 9.3

Peer comparisonInvesco LTD vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
IVZ this company	$13.0B	9.3	+12.2%	-4.5%	Mixed
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: IVZ vs BRK.A · IVZ vs BRK.B · IVZ vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 1Buy 7Hold 10

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $6.90B · net income -$309M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$6.90B

YoY 12.2%

Net income (TTM)

-$309M

Margin -4.5%

Gross margin

66.0%

Operating margin

-14.5%

P/E ratio

9.3

Dividend yield

4.19%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	6.1	6.9	6.0	5.7	6.1	6.4
Gross profit	—	—	—	—	—	—
Operating income (EBIT)	0.9	1.8	1.3	-0.4	0.8	-0.7
Net income	0.5	1.4	0.7	-0.3	0.5	-0.7
EPS (diluted)	1.13	2.99	1.49	-0.73	1.18	-1.60

Cash flowFree cash flow $1.92B · operating cash flow $2.01B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.92B

Margin 27.8%

Operating cash flow (TTM)

$2.01B

FCF margin

27.8%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	1.2	1.1	0.7	1.3	1.2	1.5
Capital expenditure	-0.1	-0.1	-0.2	-0.2	-0.1	-0.1
Free cash flow	1.1	1.0	0.5	1.1	1.1	1.4
FCF margin	18.1%	14.1%	8.4%	19.9%	18.5%	22.6%

Balance sheetAssets $27.1B · net debt $788M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $27.1B of assets is financed

54%

46%

Liabilities $14.1B — borrowed moneyEquity $12.2B — owners' stake

Cash vs debt

Total debt $1.83B − cash $1.04B = net debt $788M

Cash on hand covers 57% of debt.

Altman Z-Score

1.08

Distress zone

Debt repayment

0.4 yrs

Years of free cash flow to clear net debt

Interest coverage

21.2x

EBIT ÷ interest expense

ROE

-0.5%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	1.4	1.9	—	1.5	1.0	1.0
Total assets	36.5	32.7	29.8	28.9	27.0	27.1
Total liabilities	21.5	16.0	12.9	13.0	11.3	14.1
Total debt	2.1	2.1	1.5	1.5	0.9	1.8
Equity	14.4	15.5	15.2	14.6	14.6	12.2
Net debt	0.7	0.2	—	0.0	-0.1	0.8

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of IVZ on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $29.51 · market cap $13.0B.