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IVZ

Invesco Ltd.

Financials • CIK: 0000914208

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Market Cap
$10.41B
P/E (TTM)
15.5x
Rev Growth (TTM)
+6.6%
Net Margin (TTM)
16.9%
FCF Yield (TTM)
12.8%
FCF Margin (TTM)
21.2%

LATEST EARNINGS

Q4 FY2025
about 1 month ago
View source
Revenue
$1.69B
+6.2%
Net Income
$-1.19B
EPS
$-2.61
Operating
-86.2% -105.8%
  • Ending AUM reached $2.2 trillion, an increase of 2.1% from the prior quarter and 17.5% from the prior year-end.
  • Net long-term inflows of $19.1 billion for the fourth quarter, contributing to $81.2 billion for the full year.
  • Adjusted operating margin improved to 36.4% from 34.2% in the prior quarter and 33.7% in the prior year.
  • Repurchased $500 million of Series A Preferred Stock and repaid the remaining $240 million of a bank term loan, strengthening the balance sheet.

Cash Flow Health

Free Cash Flow6/8 positive
TTM$1.3B
Q3 '25
$586M+11%
Q2 '25
$530M+591%
FCF Margin
TTM21.2%
Q3 '2535.7%+2%
Sector: 21.9%Below Avg
OCF Margin22.1%
OCF/NI1.31x
CapEx Coverage25.8x
FCF Yield12.8%
FCF Growth (2Y)+155%
Cash Conversion Cycle
44 days
DSO: 44+DIO: DPO:

Capital Allocation & Returns

Shareholder Friendly
Total Shareholder YieldTTM
TTM4.8%
Div Yield3.6%
+
Buyback (TTM)1.2%

Strong capital returns to shareholders

Dividend & Payout Metrics
Dividend Yield (TTM)3.6%
FCF Payout Ratio28.3%
Free Cash Flow (TTM)$1.3B
Stock Repurchases (TTM)$123.8M
Capital Return / FCF37.5%
Est. Dividends Paid (TTM)$376.7M
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
Asset Turnover
0.22x
8Q: 0.22x
Leverage (1+D/E)
1.00x
D/E: 0.00x
Asset & CapEx Efficiency
Fixed Asset Turn
13.39x
8Q:11.26x
+574.7%
CapEx/Depreciation
0.33x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Revenue
$6.3B
$1.6B8.2%
$1.5B0.9%
$1.5B4.0%
$1.6B5.1%
$1.5B2.2%
$1.5B0.5%
$1.5B4.4%
$1.4B
Operating Income
$1.1B
$270.9M26.5%
$214.2M22.8%
$277.3M11.0%
$311.7M210.1%
$100.5M51.4%
$206.8M3.0%
$213.1M119.8%
$-1.1B
Net Income
$669.2M
$301.3M2510.4%
$-12.5M107.3%
$171.1M18.3%
$209.3M280.5%
$55.0M58.4%
$132.2M6.6%
$141.5M119.1%
$-742.3M
Operating Cash Flow
$1.4B
$606.2M10.6%
$547.9M747.6%
$-84.6M126.7%
$316.9M27.7%
$438.4M10.4%
$489.1M999.1%
$-54.4M107.6%
$714.3M
Free Cash Flow
$1.3B
$586.4M10.6%
$530.4M591.1%
$-108.0M133.3%
$323.9M21.0%
$410.0M11.3%
$462.4M713.3%
$-75.4M111.2%
$674.0M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
15.5x
Volatile
8Q: 39.0x-22691%
Valuation Lenses
Earnings
15.5x
vs sector
Cash Flow
4.4x
EV/FCF vs
Growth-Adj
2.3xPEG
Expensive for growth
Quality-Adj
P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
3.6%
Buyback
1.2%
Total Yield
4.8%
Market Cap$10.41B
EV
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
64/100
High Quality

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Bottom 25%
7.4%
8Q:
Return on Invested Capital (ROIC)
8Q:
vs Sector:0.1%

Earnings Quality

Cash Conversion

1.31x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin

Capital Efficiency

Invested Capital Turnover

Working Capital

Cash Conversion Cycle44 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
67/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
6.6%
OpInc Growth YoY
169.6%
EPS Growth YoY
N/A
FCF 3Y CAGR
154.8%

Growth Quality Analysis

Efficient Growth: Free cash flow growing faster than revenue

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
Operating
Net
16.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+4.3 pts
FCF: 21.2% | Net: 16.9%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.73B
Interest Coverage
+Net cash position: $1.73B
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis