Invesco Mortgage Capital Inc. (IVR) Financial Ratios
17 years of historical data (2009–2025) · Real Estate · REIT - Mortgage
EV/EBITDA
↓
19.12
+0% vs avg
5yr avg: 19.10
30Y Low3.4·High30.2
P/FCF
↓
3.67
↑+28% vs avg
5yr avg: 2.87
30Y Low1.6·High9.8
P/B Ratio
↑
0.67
+19% vs avg
5yr avg: 0.56
30Y Low0.4·High0.8
ROE
↑
13.3%
↓+378% vs avg
5yr avg: -4.8%
30Y Low-78%·High19%
Debt/EBITDA
↓
17.50
↓-1% vs avg
5yr avg: 17.76
30Y Low4.6·High20.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IVR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Invesco Mortgage Capital Inc. trades at 5.2x earnings, 41% below its 5-year average of 8.9x, sitting at the 9th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.3x, the stock trades at a discount of 78%. On a free-cash-flow basis, the stock trades at 3.7x P/FCF, 28% above the 5-year average of 2.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $576M | $558M | $431M | $372M | $414M | $728M | $559M | $2.1B | $1.5B | $2.1B | $1.8B |
| Enterprise Value | $6.1B | $6.1B | $5.3B | $4.8B | $4.5B | $7.4B | $7.4B | $3.6B | $3.1B | $3.8B | $3.7B |
| P/E Ratio → | 5.24 | 5.50 | 12.38 | — | — | — | — | 6.56 | — | 6.17 | 7.02 |
| P/S Ratio | 1.70 | 1.64 | 0.96 | 1.96 | — | 14.46 | — | 5.14 | 3.63 | 5.14 | 5.43 |
| P/B Ratio | 0.67 | 0.70 | 0.59 | 0.47 | 0.51 | 0.52 | 0.41 | 0.71 | 0.67 | 0.79 | 0.80 |
| P/FCF | 3.67 | 3.55 | 2.35 | 1.56 | 2.11 | 4.78 | 3.28 | 6.10 | 5.06 | 7.18 | 5.49 |
| P/OCF | 3.67 | 3.55 | 2.35 | 1.56 | 2.11 | 4.78 | 3.28 | 6.10 | 5.06 | 7.18 | 6.12 |
P/E links to full P/E history page with 30-year chart
IVR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Invesco Mortgage Capital Inc.'s enterprise value stands at 19.1x EBITDA, roughly in line with its 5-year average of 19.1x. The Real Estate sector median is 16.7x, placing the stock at a 14% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 18.02 | 11.66 | 25.04 | — | 146.48 | — | 8.76 | 7.20 | 9.34 | 11.10 |
| EV / EBITDA | 19.12 | 19.06 | 16.92 | 21.33 | — | — | — | — | — | 11.29 | 14.47 |
| EV / EBIT | 19.12 | 19.06 | 16.95 | 21.33 | — | — | 317.70 | 153.99 | 121.32 | 10.37 | — |
| EV / FCF | — | 38.97 | 28.67 | 19.99 | 22.82 | 48.41 | 43.38 | 10.41 | 10.04 | 13.05 | 11.21 |
IVR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Invesco Mortgage Capital Inc. earns an operating margin of 94.5%, significantly above the Real Estate sector average of 25.0%. Operating margins have compressed from 117.4% to 94.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 13.3% is modest. ROIC of 4.0% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.7% | 96.7% | 17.6% | 93.5% | 86.3% | 58.1% | 100.0% | 100.0% | 90.4% | 100.0% | 89.6% |
| Operating Margin | 94.5% | 94.5% | 68.8% | 117.4% | 75.7% | -159.3% | — | — | -16.6% | 88.7% | 76.7% |
| Net Profit Margin | 29.8% | 29.8% | 13.3% | -8.4% | 92.1% | -178.8% | 101.6% | 89.2% | -16.7% | 85.9% | 76.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 13.3% | 7.9% | -2.0% | -36.5% | -6.5% | -77.9% | 14.0% | -2.9% | 14.2% | 11.2% |
| ROA | 1.7% | 1.7% | 1.1% | -0.3% | -6.0% | -1.1% | -10.8% | 1.8% | -0.4% | 2.0% | 1.6% |
| ROIC | 4.0% | 4.0% | 4.3% | 3.3% | -3.9% | -0.7% | — | — | -1.3% | 6.3% | 4.6% |
| ROCE | 40.4% | 40.4% | 40.7% | 27.9% | -29.9% | -5.8% | — | — | -0.4% | 2.1% | 1.6% |
IVR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Invesco Mortgage Capital Inc. carries a Debt/EBITDA ratio of 17.5x, which is highly leveraged (124% above the sector average of 7.8x). Net debt stands at $5.6B ($5.6B total debt minus $56M cash). Interest coverage of just 1.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 7.05 | 7.05 | 6.70 | 5.70 | 5.27 | 4.99 | 5.29 | 0.56 | 0.72 | 0.67 | 0.90 |
| Debt / EBITDA | 17.50 | 17.50 | 15.77 | 20.01 | — | — | — | — | — | 5.34 | 8.02 |
| Net Debt / Equity | — | 6.98 | 6.60 | 5.60 | 5.05 | 4.74 | 5.00 | 0.50 | 0.66 | 0.64 | 0.83 |
| Net Debt / EBITDA | 17.32 | 17.32 | 15.53 | 19.66 | — | — | — | — | — | 5.07 | 7.38 |
| Debt / FCF | — | 35.42 | 26.32 | 18.43 | 20.71 | 43.63 | 40.10 | 4.30 | 4.98 | 5.87 | 5.72 |
| Interest Coverage | 1.46 | 1.46 | 1.24 | 0.98 | -6.43 | — | 0.28 | 0.05 | 0.07 | 1.86 | -0.05 |
IVR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.04x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.04 | 0.04 | 0.04 | 0.05 | 0.07 | 0.09 | — | 0.95 | 0.72 | 1.73 | 5.51 |
| Quick Ratio | 0.04 | 0.04 | 0.04 | 0.05 | 0.07 | 0.09 | — | 0.95 | 0.72 | 1.73 | 5.51 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.02 | 0.04 | 0.05 | 0.05 | 0.60 | 0.45 | 0.94 | 1.72 |
| Asset Turnover | — | 0.05 | 0.08 | 0.04 | -0.09 | 0.01 | -0.19 | 0.02 | 0.02 | 0.02 | 0.02 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
IVR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Invesco Mortgage Capital Inc. returns 21.6% to shareholders annually — split between a 20.1% dividend yield and 1.5% buyback yield. The payout ratio exceeds 100% at 105.5%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 19.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 20.1% | 19.2% | 24.5% | 27.5% | 33.9% | 18.3% | 24.6% | 12.9% | 15.2% | 10.2% | 11.3% |
| Payout Ratio | 105.5% | 105.5% | 176.1% | — | — | — | — | 74.5% | — | 61.0% | 80.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 19.1% | 18.2% | 8.1% | — | — | — | — | 15.3% | — | 16.2% | 14.3% |
| FCF Yield | 27.3% | 28.2% | 42.5% | 64.0% | 47.4% | 20.9% | 30.5% | 16.4% | 19.7% | 13.9% | 18.2% |
| Buyback Yield | 1.5% | 1.5% | 27.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 100.0% | 1.4% |
| Total Shareholder Yield | 21.6% | 20.7% | 51.7% | 27.5% | 33.9% | 18.3% | 24.6% | 12.9% | 15.3% | 100.0% | 12.7% |
| Shares Outstanding | — | $66M | $53M | $44M | $34M | $28M | $17M | $13M | $11M | $12M | $13M |
Peer Comparison
Compare IVR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 IVRYou | $576M | 5.2 | 19.1 | 3.7 | 96.7% | 94.5% | 13.3% | 4.0% | 17.5 |
 AGNC | $10B | 11.6 | 2.4 | 112.6 | 100.0% | 79.6% | 9.6% | 34.0% | 0.0 |
 NLY | $16B | 7.7 | 18.3 | — | 99.9% | 102.6% | 14.1% | 6.4% | 16.3 |
 DX | $3B | 5.4 | 21.2 | — | 100.0% | 175.6% | 17.5% | 4.8% | 18.8 |
 MFA | $997M | 5.8 | 17.1 | 13.1 | 96.2% | 78.8% | 9.6% | 4.4% | 15.9 |
 TWO | $1B | -2.8 | 197.8 | 14.5 | 97.9% | 68.7% | -23.2% | 3.1% | 188.0 |
 EARN | $182M | 20.2 | 100.5 | 20.0 | 31.3% | 14.0% | 4.0% | 0.7% | 79.3 |
 CIM | $1B | 5.0 | 18.0 | — | 94.9% | 93.2% | 9.0% | 4.1% | 16.9 |
 EFC | $1B | 11.4 | 39.5 | 2.7 | 84.3% | 61.6% | 8.5% | 3.1% | 37.0 |
 MITT | $250M | 8.8 | 18.3 | 4.2 | 94.7% | 96.9% | 8.8% | 4.5% | 17.9 |
 ORC | $1B | 5.6 | 22.8 | 8.8 | 97.8% | 88.6% | 15.6% | 2.1% | 22.0 |
| Real Estate Median | — | 24.3 | 16.7 | 15.7 | 50.7% | 25.0% | 3.5% | 2.6% | 7.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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Start ComparisonIVR — Frequently Asked Questions
Quick answers to the most common questions about buying IVR stock.
What is Invesco Mortgage Capital Inc.'s P/E ratio?
Invesco Mortgage Capital Inc.'s current P/E ratio is 5.2x. The historical average is 8.2x. This places it at the 9th percentile of its historical range.
What is Invesco Mortgage Capital Inc.'s EV/EBITDA?
Invesco Mortgage Capital Inc.'s current EV/EBITDA is 19.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.5x.
What is Invesco Mortgage Capital Inc.'s ROE?
Invesco Mortgage Capital Inc.'s return on equity (ROE) is 13.3%. The historical average is -0.4%.
Is IVR stock overvalued?
Based on historical data, Invesco Mortgage Capital Inc. is trading at a P/E of 5.2x. This is at the 9th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Invesco Mortgage Capital Inc.'s dividend yield?
Invesco Mortgage Capital Inc.'s current dividend yield is 20.10% with a payout ratio of 105.5%.
What are Invesco Mortgage Capital Inc.'s profit margins?
Invesco Mortgage Capital Inc. has 96.7% gross margin and 94.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Invesco Mortgage Capital Inc. have?
Invesco Mortgage Capital Inc.'s Debt/EBITDA ratio is 17.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.