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Invesco Mortgage Capital Inc. (IVR) 10-Year Financial Performance & Capital Metrics

IVR • • REIT / Real Estate
Real EstateMortgage REITsHybrid Mortgage REITsMulti-Asset Mortgage Investors
AboutInvesco Mortgage Capital Inc. operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S. government agency or federally chartered corporation; RMBS and CMBS that are not issued or guaranteed by a U.S. government agency or federally chartered corporation; credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; residential and commercial mortgage loans; and other real estate-related financing arrangements. Invesco Mortgage Capital Inc. has elected to be taxed as a REIT and would be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 2008 and is headquartered in Atlanta, Georgia.Show more
  • Revenue $80M +1798.2%
  • FFO $60M +335.3%
  • FFO/Share 1.13 +293.9%
  • FFO Payout 174.42% +143.9%
  • FFO per Share 1.13 +293.9%
  • NOI Margin 100%
  • FFO Margin 76.01% +112.4%
  • ROE 7.91% +495.9%
  • ROA 1.09% +457.3%
  • Debt/Assets 86.05%
  • Net Debt/EBITDA 15.53
  • Book Value/Share 13.66 -23.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High NOI margin of 100.0%
  • ✓Trading near 52-week high
  • ✓Trading at only 0.7x book value

✗Weaknesses

  • ✗High debt to equity ratio of 6.7x
  • ✗Profits declining 30.3% over 5 years
  • ✗Dividend exceeds FFO - may not be sustainable
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 21.3% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-27.89%
3Y16.48%
TTM39.91%

Profit (Net Income) CAGR

10Y-
5Y-30.3%
3Y-
TTM-36.17%

EPS CAGR

10Y-
5Y-51.48%
3Y-
TTM-105.83%

ROCE

10Y Avg3.32%
5Y Avg5.66%
3Y Avg9.33%
Latest58.18%

Peer Comparison

Multi-Asset Mortgage Investors
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Size & Scale
Valuation
Per Share
Growth
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Momentum & Returns
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Technical
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Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
RWTNRedwood Trust, Inc. 9.125% Seni3.36B25.3479.1952.9%-0.62%-0.29%14.10
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 2029754.34M25.4520.695.49%18.45%8.87%7.4%11.65
EFC-PCEllington Financial Inc.2.49B25.4218.97-13.66%46.15%8.39%
RWTRedwood Trust, Inc.734.76M5.8018.1352.9%-41.59%-8.86%13.80
EFC-PDEllington Financial Inc.2.37B24.1817.6512.07%49.64%8.39%
STWDStarwood Property Trust, Inc.6.8B18.3516.38-0.53%19.99%4.84%9.1%1.25
NLYAnnaly Capital Management, Inc.16.28B23.8314.71189.21%31.62%9.97%15.04%1.69
IVRInvesco Mortgage Capital Inc.659.79M9.3014.3117.98%36.99%6.93%27.76%6.70

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+440.64M332.96M405.94M424.49M408.05M-1.65B50.33M-377.6M4.19M79.55M
Revenue Growth %3.68%-0.24%0.22%0.05%-0.04%-5.04%1.03%-8.5%1.01%17.98%
Property Operating Expenses46.85M34.54M040.72M0021.08M000
Net Operating Income (NOI)+----------
NOI Margin %----------
Operating Expenses+7.77M7.26M405.94M-26.12M408.05M-1.65B29.23M25.32M19.73M19.02M
G&A Expenses46.4M41.81M44.75M47.79M46.17M10.86M29.23M8.42M19.73M7.15M
EBITDA+114.06M255.4M335.98M-95.69M00-101.54M-331.44M-15.54M310.38M
EBITDA Margin %----------
Depreciation & Amortization+00-23.89M-25.18M-23.21M-23.28M-21.38M00587K
D&A / Revenue %----------
Operating Income+114.06M255.4M359.87M-70.51M00-80.16M-331.44M-15.54M309.79M
Operating Margin %----------
Interest Expense+277.97M157.35M196.59M338.87M472.32M82.26M051.56M228.23M249.72M
Interest Coverage0.41x1.62x1.83x-0.21x----6.43x-0.07x1.24x
Non-Operating Income-6.05M263.16M-5.91M-95.69M-23.21M-23.28M-9.84M-19.93M-15.54M60.34M
Pretax Income+114.06M257.7M353.06M-70.54M364.1M-1.67B-90M-402.92M-15.86M59.88M
Pretax Margin %----------
Income Tax+0000000000
Effective Tax Rate %----------
Net Income+112.71M254.41M348.61M-70.79M364.1M-1.67B-90M-402.92M-15.86M59.88M
Net Margin %----------
Net Income Growth %1.52%1.26%0.37%-1.2%6.14%-5.6%0.95%-3.48%0.96%4.78%
Funds From Operations (FFO)+----------
FFO Margin %----------
FFO Growth %--0.24%-1.3%4.55%-5.98%0.93%-2.79%0.94%3.35%
FFO per Share+----------
FFO Payout Ratio %----------
EPS (Diluted)+7.4019.8027.50-10.3024.16-98.93-4.80-12.21-0.850.65
EPS Growth %1.42%1.68%0.39%-1.37%3.35%-5.09%0.95%-1.54%0.93%1.76%
EPS (Basic)7.4020.7028.70-10.3024.16-98.93-4.80-12.21-0.850.65
Diluted Shares Outstanding12.28M13.03M12.3M11.19M13.23M17.37M27.51M34.16M44.07M53.48M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+16.77B15.71B18.66B17.81B22.35B8.63B8.44B5.1B5.28B5.69B
Asset Growth %-0.21%-0.06%0.19%-0.05%0.25%-0.61%-0.02%-0.4%0.04%0.08%
Real Estate & Other Assets+-16.1B-15.02B-18.22B-17.42B21.21B07.33B4.44B-344.33M-316.02M
PP&E (Net)0000000000
Investment Securities1000K1000K1000K1000K1000K01000K1000K1000K1000K
Total Current Assets+686.53M518.84M161.6M215.72M273.05M0627.11M303.77M00
Cash & Equivalents53.2M161.79M88.38M135.62M172.51M392.58M357.13M175.53M76.97M73.4M
Receivables1000K1000K1000K1000K1000K1000K1000K01000K1000K
Other Current Assets316.67M178.53M000-409.5M246.19M127.57M-103.57M-98.85M
Intangible Assets0000000000
Total Liabilities14.5B13.44B16B15.53B19.41B7.27B7.04B4.29B4.5B4.96B
Total Debt+2.04B2.05B1.79B1.65B1.65B7.23B7B4.24B04.89B
Net Debt1.99B1.89B1.7B1.51B1.48B6.84B6.65B4.06B-76.97M4.82B
Long-Term Debt2.04B2.05B1.79B1.65B1.65B00000
Short-Term Borrowings000001000K1000K1000K01000K
Capital Lease Obligations0285.22M563.32M563.32M563.32M00000
Total Current Liabilities+91.63M94.12M93.58M300.42M287.85M07.04B4.29B04.95B
Accounts Payable23.98M22.6M20.05M39.31M45.56M01.89M1.36M17.08M34.33M
Deferred Revenue0000000000
Other Liabilities4.9M000006.49M4.45M03.7M
Total Equity+2.27B2.27B2.66B2.29B2.93B1.37B1.4B804.08M782.66M730.73M
Equity Growth %-0.14%0%0.17%-0.14%0.28%-0.53%0.03%-0.43%-0.03%-0.07%
Shareholders Equity2.24B2.24B2.63B2.29B2.93B1.37B1.4B804.08M782.66M730.73M
Minority Interest25.87M28.62M26.39M0000000
Common Stock1.14M1.12M1.12M1.11M1.44M2.03M330K387K484K617K
Additional Paid-in Capital2.41B2.38B2.38B2.38B2.89B3.39B3.82B3.9B4.01B4.13B
Retained Earnings-771.31M-718.3M-579.33M-882.09M-814.48M-2.64B-2.88B-3.41B-3.52B-3.57B
Preferred Stock285.22M285.22M563.32M563.32M563.32M563.32M427.97M298.71M288.49M174.28M
Return on Assets (ROA)0.01%0.02%0.02%-0%0.02%-0.11%-0.01%-0.06%-0%0.01%
Return on Equity (ROE)0.05%0.11%0.14%-0.03%0.14%-0.78%-0.06%-0.37%-0.02%0.08%
Debt / Assets0.12%0.13%0.1%0.09%0.07%0.84%0.83%0.83%-0.86%
Debt / Equity0.90x0.90x0.67x0.72x0.56x5.29x4.99x5.27x-6.70x
Net Debt / EBITDA17.46x7.38x5.07x------15.53x
Book Value per Share184.54174.29215.93204.42221.5878.6950.9623.5417.7613.66

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+358.58M295.8M290.6M304.26M343.36M170.46M152.29M196.08M237.79M183.16M
Operating CF Growth %-0.06%-0.18%-0.02%0.05%0.13%-0.5%-0.11%0.29%0.21%-0.23%
Operating CF / Revenue %----------
Net Income112.71M257.7M353.06M-70.54M364.1M-1.67B-90M-402.92M-15.86M59.88M
Depreciation & Amortization07.76M-23.89M-25.18M-23.21M-23.28M-21.38M-19.09M-9.84M587K
Stock-Based Compensation557K440K00000000
Other Non-Cash Items235.35M28.51M-32M379.65M4.37M1.87B263.73M606.13M270.51M106.38M
Working Capital Changes9.96M1.39M-6.57M20.33M-1.91M2.18M-58K11.97M-7.03M16.31M
Cash from Investing+1.24B979.73M-3.09B621.55M-4.32B11.55B120.75M2.42B-536.8M-497.43M
Acquisitions (Net)0000000000
Purchase of Investments-49.45M-468.78M-6.27B-2.83M-9.84B-13.61B-17.14B-25.71B-6.17B-2.22B
Sale of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Investing380.03M924.04M3.11B-4.13B2.21B132.99M829.04M387.01M348.59M389.76M
Cash from Financing+-1.71B-1.17B2.73B-879.2M4.13B-11.62B-88.57M-2.92B218.87M326.51M
Dividends Paid-239.36M-204.49M-212.69M-234.37M-271.23M-137.5M-133.07M-140.3M-102.19M-105.47M
Common Dividends-239.36M-204.49M-212.69M-234.37M-271.23M-137.5M-133.07M-140.3M-102.19M-105.47M
Debt Issuance (Net)1000K01000K-1000K0-1000K0-1000K01000K
Share Repurchases-125.59M-25M2.92B-1.14M000-1K0-117.31M
Other Financing-1.56B-940.69M4.89M-21.93M3.9B-35K-245.96M-351K220.71M-2.84M
Net Change in Cash+-110.94M108.59M-73.41M46.62M153.88M103.08M184.47M-298.27M-80.14M12.24M
Exchange Rate Effect0000000000
Cash at Beginning164.14M53.2M161.79M89M135.62M289.5M392.58M577.05M278.78M198.64M
Cash at End53.2M161.79M88.38M135.62M289.5M392.58M577.05M278.78M198.64M210.88M
Free Cash Flow+358.58M329.71M290.6M304.26M343.36M170.46M152.29M196.08M237.79M183.16M
FCF Growth %-0.06%-0.08%-0.12%0.05%0.13%-0.5%-0.11%0.29%0.21%-0.23%
FCF / Revenue %----------

Key Ratios

Metric2015201620172018201920202021202220232024
FFO per Share9.1820.1326.39-8.5825.76-97.72-4.05-12.35-0.581.13
FFO Payout Ratio212.37%78%65.5%-244.21%79.57%-8.1%-119.47%-33.24%-397.71%174.42%
NOI Margin89.37%89.63%100%90.41%100%100%58.12%100%100%100%
Net Debt / EBITDA17.46x7.38x5.07x------15.53x
Debt / Assets12.19%13.03%9.61%9.26%7.38%83.73%82.93%83.12%-86.05%
Interest Coverage0.41x1.62x1.83x-0.21x----6.43x-0.07x1.24x
Book Value / Share184.54174.29215.93204.42221.5878.6950.9623.5417.7613.66
Revenue Growth367.58%-24.44%21.92%4.57%-3.87%-503.93%103.05%-850.22%101.11%1798.16%

Frequently Asked Questions

Valuation & Price

Invesco Mortgage Capital Inc. (IVR) has a price-to-earnings (P/E) ratio of 14.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Invesco Mortgage Capital Inc. (IVR) reported $144.2M in revenue for fiscal year 2024. This represents a 69% decrease from $469.6M in 2011.

Invesco Mortgage Capital Inc. (IVR) grew revenue by 1798.2% over the past year. This is strong growth.

Yes, Invesco Mortgage Capital Inc. (IVR) is profitable, generating $53.3M in net income for fiscal year 2024 (75.3% net margin).

Dividend & Returns

Yes, Invesco Mortgage Capital Inc. (IVR) pays a dividend with a yield of 21.21%. This makes it attractive for income-focused investors.

Invesco Mortgage Capital Inc. (IVR) has a return on equity (ROE) of 7.9%. This is below average, suggesting room for improvement.

Industry Metrics

Invesco Mortgage Capital Inc. (IVR) generated Funds From Operations (FFO) of $-0.1M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Invesco Mortgage Capital Inc. (IVR) offers a 21.21% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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