IVZ Financial Services

Invesco Ltd.

$28.26+1.76%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Financial Services
Industry: Asset Management
Country: United States
Market cap: 12.5B USD
Enterprise value: 13.2B USD
Full-time employees: 7,405

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.63 vs a peer median of 0.70) and less short-term liquidity (current ratio 0.71 vs a peer median of 2.02)higher risk: bigger price swings (beta 1.63 vs peers 0.70) and less liquidity (current ratio 0.71 vs peers 2.02)

Ranks #227 of 232 financial services companies (bottom 3%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $299M vs $390M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed −2.9% from December 2022 to June 2026.
Over three fiscal years Invesco recorded $299M of stock-based pay expense and spent $390M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−2.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Invesco recorded $299M of stock-based pay expense and spent $390M repurchasing shares. The share count barely moved (−2.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Earnings slid into a loss. Loss per share this year after a profit last year.
Invesco made a loss per share in its latest year after a profit the year before.
Operating margin at a 6-year low. -11% in 2025, the weakest of the last 6 years.
Invesco's operating margin fell to -11% in 2025, its lowest in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 74% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Invesco looks cheaper than 74% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

17/ 100

Oct 5 17 → Nov 4 17

Valuation

Is the price right?

13/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-0.7%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.54Sector median: 0.0571 · MAD: 0.0371

EBITDA yield-2.7%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.61Sector median: 0.0689 · MAD: 0.0428

Free cash flow yield15.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 1.53Sector median: 0.0613 · MAD: 0.0605

Other data (not scored)

Book yield100.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.8352 · MAD: 0.4517

Growth

Is it growing?

24/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 4.7%

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.12Sector median: 0.0999 · MAD: 0.2773

3-year revenue growth6.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.43Sector median: 0.0999 · MAD: 0.0858

Revenue growth12.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.32Sector median: 0.0742 · MAD: 0.1477

Profitability

Does it earn well?

11/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.6 points to -7.1%

Why

Weaker than most peers on:

▼ ROIC
▼ ROA
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-7.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.09Sector median: 0.2353 · MAD: 0.1462

Return on assets-0.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.23Sector median: 0.0256 · MAD: 0.0233

Return on invested capital-2.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.78Sector median: 0.0630 · MAD: 0.0518

Other data (not scored)

Gross margin29.5%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.7878 · MAD: 0.2122

Return on equity-0.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0939 · MAD: 0.0702

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.63

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.99Sector median: 0.7010 · MAD: 0.3115

Current ratio0.71×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -1.06Sector median: 2.0250 · MAD: 1.2470

Debt / equity0.13×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.81Sector median: 0.5734 · MAD: 0.5454

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Invesco

Is Invesco getting weaker?: Its latest SEC filing (Aug 4, 2026) got stronger: operating margin rose 2.6 points to -7.1%. Its overall score is unchanged at 17/100 since Oct 28, 2026.
How is Invesco valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 13/100 against 432 financial services peers. Free cash flow yield 15.4% vs a peer median of 6.1% (stronger than 74% of peers).Free cash flow yield 15.4% vs peers 6.1% (stronger than 74% of peers). Earnings yield -0.7% vs a peer median of 5.7% (weaker than 100% of peers).Earnings yield -0.7% vs peers 5.7% (weaker than 100% of peers).
Is Invesco growing?: More slowly than most of its peers. Growth scores 24/100 against 432 financial services peers. 3-year revenue growth 6.3% vs a peer median of 10.0% (weaker than 61% of peers).3-year revenue growth 6.3% vs peers 10.0% (weaker than 61% of peers).
How profitable is Invesco?: Less profitable than most of its peers. Profitability scores 11/100 against 432 financial services peers. Return on invested capital -2.9% vs a peer median of 6.3% (weaker than 91% of peers).Return on invested capital -2.9% vs peers 6.3% (weaker than 91% of peers).
How risky is Invesco?: Higher risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Debt / equity 0.13× vs a peer median of 0.57× (stronger than 75% of peers).Debt / equity 0.13× vs peers 0.57× (stronger than 75% of peers). Beta 1.63 vs a peer median of 0.70 (weaker than 95% of peers).Beta 1.63 vs peers 0.70 (weaker than 95% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 2.6 points to -7.1%

Worth watching: Invesco is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	6.6B USD	6.9B USD	+4.7%
Net income (12 months)	−223.0M USD	−81.5M USD	−63.5%
Operating margin	-9.7%	-7.1%	+2.6 pts
Free cash flow (12 months)	1.7B USD	1.9B USD	+9.9%
Debt	2.0B USD	1.6B USD	−17.4%
Cash	806.9M USD	915.4M USD	+13.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Asset Management · 43 companies

Valuations in Asset Management are near the top of their range since 2016.

95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	25.9%	21.8%	-7.6%	13.7%	-10.9%	▼ 25 pts
Net margin	20.2%	11.3%	-5.8%	8.9%	-2.7%	▼ 12 pts
Return on assets (ROA)	4.3%	2.3%	-1.2%	2.0%	-0.6%	▼ 2.6 pts
Return on equity (ROE)	9.0%	4.5%	-2.3%	3.7%	-1.4%	▼ 5.1 pts
Free cash flow margin	14.1%	8.4%	19.9%	18.5%	22.6%	▲ 4.1 pts
Debt to equity	0.13×	0.10×	0.10×	0.06×	0.15×	▲ 144%
Interest coverage	18.88×	15.47×	-6.17×	14.35×	-8.43×	▼ 159%

IVZ price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

White Mountains Insurance Group, Ltd.WTM94/ 100

The Allstate CorporationALL93/ 100

PT Saratoga Investama Sedaya TbkSRTG.JK93/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.63 vs a peer median of 0.70) and less short-term liquidity (current ratio 0.71 vs a peer median of 2.02)higher risk: bigger price swings (beta 1.63 vs peers 0.70) and less liquidity (current ratio 0.71 vs peers 2.02)

Ranks #227 of 232 financial services companies (bottom 3%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $299M vs $390M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed −2.9% from December 2022 to June 2026.

Over three fiscal years Invesco recorded $299M of stock-based pay expense and spent $390M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−2.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Invesco recorded $299M of stock-based pay expense and spent $390M repurchasing shares. The share count barely moved (−2.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.

Earnings slid into a loss. Loss per share this year after a profit last year.

Invesco made a loss per share in its latest year after a profit the year before.

Operating margin at a 6-year low. -11% in 2025, the weakest of the last 6 years.

Invesco's operating margin fell to -11% in 2025, its lowest in the 6 years of filings we have.

Valuation signals disagree. Cheaper than 74% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Invesco looks cheaper than 74% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about Invesco

Is Invesco getting weaker?

Its latest SEC filing (Aug 4, 2026) got stronger: operating margin rose 2.6 points to -7.1%. Its overall score is unchanged at 17/100 since Oct 28, 2026.

How is Invesco valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 13/100 against 432 financial services peers. Free cash flow yield 15.4% vs a peer median of 6.1% (stronger than 74% of peers).Free cash flow yield 15.4% vs peers 6.1% (stronger than 74% of peers). Earnings yield -0.7% vs a peer median of 5.7% (weaker than 100% of peers).Earnings yield -0.7% vs peers 5.7% (weaker than 100% of peers).

Is Invesco growing?

More slowly than most of its peers. Growth scores 24/100 against 432 financial services peers. 3-year revenue growth 6.3% vs a peer median of 10.0% (weaker than 61% of peers).3-year revenue growth 6.3% vs peers 10.0% (weaker than 61% of peers).

How profitable is Invesco?

Less profitable than most of its peers. Profitability scores 11/100 against 432 financial services peers. Return on invested capital -2.9% vs a peer median of 6.3% (weaker than 91% of peers).Return on invested capital -2.9% vs peers 6.3% (weaker than 91% of peers).

How risky is Invesco?

Higher risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Debt / equity 0.13× vs a peer median of 0.57× (stronger than 75% of peers).Debt / equity 0.13× vs peers 0.57× (stronger than 75% of peers). Beta 1.63 vs a peer median of 0.70 (weaker than 95% of peers).Beta 1.63 vs peers 0.70 (weaker than 95% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

6.6B USD

6.9B USD

+4.7%

Net income (12 months)

−223.0M USD

−81.5M USD

−63.5%

Operating margin

-9.7%

-7.1%

+2.6 pts

Free cash flow (12 months)

1.7B USD

1.9B USD

+9.9%

Debt

2.0B USD

1.6B USD

−17.4%

Cash

806.9M USD

915.4M USD

+13.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

25.9%

21.8%

-7.6%

13.7%

-10.9%

▼ 25 pts

Net margin

20.2%

11.3%

-5.8%

8.9%

-2.7%

▼ 12 pts

Return on assets (ROA)

4.3%

2.3%

-1.2%

2.0%

-0.6%

▼ 2.6 pts

Return on equity (ROE)

9.0%

4.5%

-2.3%

3.7%

-1.4%

▼ 5.1 pts

Free cash flow margin

14.1%

8.4%

19.9%

18.5%

22.6%

▲ 4.1 pts

Debt to equity

0.13×

0.10×

0.06×

0.15×

▲ 144%

Interest coverage

18.88×

15.47×

-6.17×

14.35×

-8.43×

▼ 159%