Invesco Ltd. (IVZ) 10-Year Financial Performance & Capital Metrics

IVZ • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutInvesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds. It manages separate client-focused equity and fixed income portfolios. The firm also launches equity, fixed income, commodity, multi-asset, and balanced mutual funds for its clients. It launches equity, fixed income, multi-asset, and balanced exchange-traded funds. The firm also launches and manages private funds. It invests in the public equity and fixed income markets across the globe. The firm also invests in alternative markets, such as commodities and currencies. For the equity portion of its portfolio, it invests in growth and value stocks of large-cap, mid-cap, and small-cap companies. For the fixed income portion of its portfolio, the firm invests in convertibles, government bonds, municipal bonds, treasury securities, and cash. It also invests in short term and intermediate term bonds, investment grade and high yield bonds, taxable and tax-free bonds, senior secured loans, and structured securities such as asset-backed securities, mortgage-backed securities, and commercial mortgage-backed securities. The firm employs absolute return, global macro, and long/short strategies. It employs quantitative analysis to make its investments. The firm was formerly known as Invesco Plc, AMVESCAP plc, Amvesco plc, Invesco PLC, Invesco MIM, and H. Lotery & Co. Ltd. Invesco Ltd. was founded in December 1935 and is based in Atlanta, Georgia with an additional office in Hamilton, Bermuda.Show more

Net Interest Income $900K +104.0%
Total Revenue $6.07B +6.1%
Net Income $775M +899.6%
Return on Equity 4.91% +929.3%
Net Interest Margin 0% +104.2%
Efficiency Ratio 19.7% -53.9%
ROA 2.77% +938.9%
Equity / Assets 58.01% +5.5%
Book Value per Share 34.23 -1.9%
Tangible BV/Share 3.50 +16.0%
Debt/Equity 0.48 -15.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient operations: 19.7% efficiency ratio
✓Momentum leader: RS Rating 88 (top 12%)
✓Well capitalized: 58.0% equity/assets
✓Healthy dividend yield of 2.8%
✓Diversified revenue: 99.0% from non-interest income

✗Weaknesses

✗Weak 3Y average ROE of 3.3%
✗Weak NIM of 0.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.66%

5Y-0.17%

3Y-4.17%

TTM-

Profit (Net Income) CAGR

10Y-2.44%

5Y2.4%

3Y-21.95%

TTM664.99%

EPS CAGR

10Y-6.33%

5Y-1.61%

3Y-26.65%

TTM296.74%

ROCE

10Y Avg4.92%

5Y Avg3.13%

3Y Avg2.03%

Latest3.15%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-68.7M	-81.2M	-81.4M	-90.2M	-107.2M	-108.8M	-69.5M	-60.8M	-22.7M	900K
NII Growth %	-0.14%	-0.18%	-0%	-0.11%	-0.19%	-0.01%	0.36%	0.13%	0.63%	1.04%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	13M	12.2M	13.4M	21.3M	28.5M	20.5M	25.2M	24.4M	47.8M	58.9M
Interest Expense	81.7M	93.4M	94.8M	111.5M	135.7M	129.3M	94.7M	85.2M	70.5M	58M
Loan Loss Provision	2.89B	2.68B	2.89B	2.99B	3.47B	3.63B	3.97B	3.53B	3.64B	3.98B
Non-Interest Income+	5.11B	4.72B	5.15B	5.29B	6.09B	6.13B	6.87B	6.02B	5.67B	6.01B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	5.12B	4.73B	5.16B	5.31B	6.12B	6.15B	6.89B	6.05B	5.72B	6.07B
Revenue Growth %	-0%	-0.08%	0.09%	0.03%	0.15%	0%	0.12%	-0.12%	-0.05%	0.06%
Non-Interest Expense	789.1M	805.4M	895.1M	1.01B	1.71B	1.47B	1.05B	1.12B	2.44B	1.2B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.36B	1.15B	1.28B	1.2B	808.2M	920.4M	1.79B	1.32B	-434.8M	832.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.06%	-0.15%	0.11%	-0.06%	-0.33%	0.14%	0.94%	-0.26%	-1.33%	2.91%
Pretax Income+	1.36B	1.21B	1.43B	1.14B	972.9M	1.07B	2.5B	1.25B	-237.9M	1.01B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	398M	338.3M	268.2M	255M	235.1M	261.6M	531.1M	322.2M	-69.7M	252.9M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	968.1M	854.2M	1.13B	882.8M	688.3M	761.6M	1.63B	920.7M	-96.9M	774.8M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.02%	-0.12%	0.32%	-0.22%	-0.22%	0.11%	1.14%	-0.44%	-1.11%	9%
Net Income (Continuing)	964.1M	868.3M	1.16B	883.1M	737.8M	807.5M	1.97B	925.5M	-168.2M	752.4M
EPS (Diluted)+	2.31	2.12	2.75	2.14	1.28	1.13	2.99	1.49	-0.73	1.18
EPS Growth %	0.02%	-0.08%	0.3%	-0.22%	-0.4%	-0.12%	1.65%	-0.5%	-1.49%	2.62%
EPS (Basic)	2.32	2.12	2.75	2.14	1.29	1.14	3.01	1.50	-0.73	1.18
Diluted Shares Outstanding	429.3M	415M	409.9M	412.5M	440.5M	462.5M	465.4M	459.5M	456.2M	457.7M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	2.21B	2.07B	2.52B	1.81B	1.7B	1.71B	2.15B	1.43B	1.93B	1.5B
Short Term Investments	1000K	0	0	0	0	0	0	0	0	0
Total Investments+	7.35B	5.91B	6.33B	6.83B	8.64B	8.74B	9.97B	2.66B	9.22B	2.5B
Investments Growth %	0.06%	-0.2%	0.07%	0.08%	0.27%	0.01%	0.14%	-0.73%	2.47%	-0.73%
Long-Term Investments	7.04B	5.91B	6.33B	6.83B	8.64B	8.74B	9.97B	2.66B	9.22B	2.5B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	6.18B	6.13B	6.59B	7.16B	8.51B	8.92B	8.88B	8.56B	8.69B	8.32B
Intangible Assets	1.35B	1.4B	1.56B	2.18B	7.36B	7.31B	7.23B	7.14B	5.85B	5.75B
PP&E (Net)	426.9M	464.7M	490.7M	468.7M	583.5M	563.8M	518.1M	561.1M	599.5M	479M
Other Assets	107M	95M	61.7M	126.1M	11.3B	8.1B	2.62B	8.4B	1.69B	7.35B
Total Current Assets	9.97B	11.73B	4.19B	2.84B	3.04B	2.89B	3.46B	2.44B	2.88B	2.61B
Total Non-Current Assets	15.1B	14B	15.03B	16.75B	17.91B	33.62B	29.22B	27.32B	26.05B	24.4B
Total Assets+	25.07B	25.73B	31.67B	30.98B	39.42B	36.5B	32.69B	29.76B	28.93B	27.01B
Asset Growth %	0.23%	0.03%	0.23%	-0.02%	0.27%	-0.07%	-0.1%	-0.09%	-0.03%	-0.07%
Return on Assets (ROA)	0.04%	0.03%	0.04%	0.03%	0.02%	0.02%	0.05%	0.03%	-0%	0.03%
Accounts Payable	302.6M	274.3M	320.1M	284.3M	414.6M	348.9M	39.2M	59.6M	31.5M	30.6M
Total Debt+	7.51B	6.51B	6.88B	7.63B	8.68B	9.12B	9.71B	8.56B	9.04B	7.55B
Net Debt	5.3B	4.44B	4.36B	5.83B	6.98B	7.41B	7.56B	7.12B	7.11B	6.05B
Long-Term Debt	7.51B	6.51B	6.88B	7.63B	8.31B	8.8B	9.42B	8.08B	8.61B	7.09B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	441M	1.12B	616.6M	489.8M	2.09B	2.05B	1.91B	1.19B	372.7M	1.68B
Total Current Liabilities	7.98B	10.18B	14.7B	13.2B	12.42B	8.79B	2.76B	1.5B	2.27B	830.4M
Total Non-Current Liabilities	8.24B	7.94B	7.77B	8.45B	12.3B	12.69B	13.25B	11.41B	10.74B	10.51B
Total Liabilities	16.21B	17.84B	22.47B	21.65B	24.72B	21.48B	16.01B	12.91B	13.02B	11.34B
Total Equity+	8.86B	7.9B	9.2B	9.33B	14.7B	15.02B	16.68B	16.84B	15.92B	15.67B
Equity Growth %	-0.05%	-0.11%	0.17%	0.01%	0.58%	0.02%	0.11%	0.01%	-0.05%	-0.02%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.1%	0.13%	0.1%	0.06%	0.05%	0.1%	0.05%	-0.01%	0.05%
Book Value per Share	20.65	19.03	22.44	22.62	33.38	32.48	35.84	36.65	34.89	34.23
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	98.1M	98.1M	98.1M	98.1M	113.2M	113.2M	113.2M	113.2M	113.2M	113.2M
Additional Paid-in Capital	6.2B	6.23B	6.28B	6.33B	7.86B	7.81B	7.69B	7.55B	7.45B	7.33B
Retained Earnings	4.44B	4.83B	5.49B	5.88B	5.92B	6.08B	7.17B	7.52B	6.83B	6.99B
Accumulated OCI	-446M	-809.3M	-391.2M	-735M	-587.3M	-404.5M	-441.5M	-942.4M	-801.8M	-1.04B
Treasury Stock	-2.4B	-2.85B	-2.78B	-3B	-3.45B	-3.25B	-3.04B	-3.04B	-3B	-2.85B
Preferred Stock	0	0	0	0	4.01B	4.01B	4.01B	4.01B	4.01B	4.01B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.13B	654M	1.16B	828.8M	1.12B	1.23B	1.08B	703.2M	1.3B	1.19B
Operating CF Growth %	-0.06%	-0.42%	0.77%	-0.28%	0.35%	0.1%	-0.12%	-0.35%	0.85%	-0.09%
Net Income	968.1M	868.3M	1.16B	883.1M	737.8M	807.5M	1.97B	925.5M	-96.9M	752.4M
Depreciation & Amortization	93.6M	101.2M	116.8M	142.1M	177.6M	203.5M	205.3M	195.3M	182.8M	179.6M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	18.9M	15.5M	-316.6M	-315.7M	-191.7M	99.1M	-942.4M	-152.3M	1.27B	7.2M
Working Capital Changes	-102.5M	-490.7M	21.3M	-53.1M	185.4M	-68.3M	-294.3M	-371.5M	-173M	146.2M
Cash from Investing+	-664.8M	-1.01B	-974.4M	-2.9B	-1.43B	-859.6M	-847.9M	-375.6M	-244.3M	68.4M
Purchase of Investments	-4.82B	-3.86B	-5.89B	-4.64B	-5.48B	-4.7B	-6.19B	-2.95B	-3.26B	-4.47B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-121.9M	-299.2M	-1.47B	290.5M	0	0	0	0	0
Other Investing	50.5M	23.3M	119.5M	-18.3M	104.1M	26.6M	44.9M	32.6M	-26.8M	126.8M
Cash from Financing+	23.3M	470.1M	169M	1.54B	201.3M	-285.9M	117.3M	-966.9M	-585.4M	-1.66B
Dividends Paid	-454.5M	-460.4M	-471.6M	-490.6M	-652.7M	-594.2M	-544.5M	-571.6M	-594.7M	-608.3M
Share Repurchases	-623.7M	-535M	-63.8M	-51.8M	-469.8M	-47.1M	-60.9M	-244.7M	-187.5M	-79.3M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K
Other Financing	87.3M	280.4M	330.8M	333.2M	125.4M	-121.5M	-191.9M	424.4M	-54.4M	-51.1M
Net Change in Cash+	337.2M	-144.5M	447.5M	-712.3M	-104.2M	138.1M	307.8M	-713M	497.5M	-435.6M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	1.51B	2.21B	2.07B	2.52B	1.81B	1.7B	1.84B	2.15B	1.43B	1.93B
Cash at End	1.85B	2.07B	2.52B	1.81B	1.7B	1.84B	2.15B	1.43B	1.93B	1.5B
Interest Paid	67.5M	81.2M	85.4M	100.8M	99.4M	93.1M	85.7M	67.4M	68.2M	53.6M
Income Taxes Paid	388.7M	299.1M	256.5M	322M	193.7M	223.8M	431.7M	301.4M	195.1M	236.3M
Free Cash Flow+	1B	506.3M	1.05B	726.3M	992.3M	1.12B	969.3M	510.3M	1.14B	1.12B
FCF Growth %	-0.06%	-0.5%	1.07%	-0.31%	0.37%	0.12%	-0.13%	-0.47%	1.23%	-0.01%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.67%	10.19%	13.19%	9.53%	5.73%	5.12%	10.28%	5.49%	-0.59%	4.91%
Return on Assets (ROA)	4.25%	3.36%	3.93%	2.82%	1.96%	2.01%	4.71%	2.95%	-0.33%	2.77%
Net Interest Margin	-0.27%	-0.32%	-0.26%	-0.29%	-0.27%	-0.3%	-0.21%	-0.2%	-0.08%	0%
Efficiency Ratio	15.4%	17.01%	17.35%	18.94%	27.9%	23.91%	15.17%	18.51%	42.69%	19.7%
Equity / Assets	35.35%	30.68%	29.05%	30.13%	37.29%	41.15%	51.03%	56.6%	55.01%	58.01%
Book Value / Share	20.65	19.03	22.44	22.62	33.38	32.48	35.84	36.65	34.89	34.23
NII Growth	-14.5%	-18.2%	-0.25%	-10.81%	-18.85%	-1.49%	36.12%	12.52%	62.66%	103.96%
Dividend Payout	46.95%	53.9%	41.83%	55.57%	76.87%	46.93%	18.88%	36.36%	-	47.95%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Investment Advice	-	-	-	4.08B	4.51B	4.45B	5B	4.36B	4.11B	4.34B
Investment Advice Growth	-	-	-	-	10.39%	-1.23%	12.24%	-12.76%	-5.79%	5.75%
Distribution and Shareholder Service	-	-	-	968.5M	1.28B	1.42B	1.6B	1.41B	1.37B	1.48B
Distribution and Shareholder Service Growth	-	-	-	-	31.80%	11.16%	12.50%	-11.96%	-2.20%	7.65%
Financial Service, Other	-	-	-	206.4M	232.4M	210M	246.1M	216.8M	189.1M	198.6M
Financial Service, Other Growth	-	-	-	-	12.60%	-9.64%	17.19%	-11.91%	-12.78%	5.02%
Investment Performance	-	-	-	56.9M	102.2M	65.6M	56.1M	68.2M	46.7M	46.4M
Investment Performance Growth	-	-	-	-	79.61%	-35.81%	-14.48%	21.57%	-31.52%	-0.64%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	-	-	-	4.31B	4.54B	5.17B	4.67B	4.38B	4.65B
Americas Growth	-	-	-	-	-	5.27%	13.94%	-9.85%	-6.10%	6.23%
EMEA, Excluding United Kingdom	891.9M	826.8M	999.6M	1.08B	902.2M	645.1M	724.8M	1.1B	1.07B	1.14B
EMEA, Excluding United Kingdom Growth	-	-7.30%	20.90%	8.54%	-16.85%	-28.50%	12.35%	51.61%	-2.42%	6.59%
Asia	219.9M	234.2M	260.7M	276M	309.2M	326.1M	348.6M	284.9M	263.8M	270.9M
Asia Growth	-	6.50%	11.32%	5.87%	12.03%	5.47%	6.90%	-18.27%	-7.41%	2.69%
UNITED KINGDOM	1.27B	1.03B	1.08B	977.2M	819.7M	632.8M	646.4M	-	-	-
UNITED KINGDOM Growth	-	-18.74%	4.73%	-9.40%	-16.12%	-22.80%	2.15%	-	-	-
UNITED STATES	2.62B	2.54B	2.75B	2.92B	-	-	-	-	-	-
UNITED STATES Growth	-	-2.97%	8.01%	6.36%	-	-	-	-	-	-
CANADA	353.9M	325.5M	339M	343.6M	-	-	-	-	-	-
CANADA Growth	-	-8.02%	4.15%	1.36%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Invesco Ltd. (IVZ) has a price-to-earnings (P/E) ratio of 24.9x. This is roughly in line with market averages.

Growth & Financials

Invesco Ltd. (IVZ) grew revenue by 6.1% over the past year. This is steady growth.

Yes, Invesco Ltd. (IVZ) is profitable, generating $998.9M in net income for fiscal year 2024 (12.8% net margin).

Dividend & Returns

Yes, Invesco Ltd. (IVZ) pays a dividend with a yield of 2.76%. This makes it attractive for income-focused investors.

Invesco Ltd. (IVZ) has a return on equity (ROE) of 4.9%. This is below average, suggesting room for improvement.

Industry Metrics

Invesco Ltd. (IVZ) has a net interest margin (NIM) of 0.0%. NIM has been under pressure due to interest rate environment.

Invesco Ltd. (IVZ) has an efficiency ratio of 19.7%. This is excellent, indicating strong cost control.

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