Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing IVZ more generously than it does today.
Analysis OverviewHoldUpdated May 1, 2026
Invesco Ltd. (IVZ) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
28
analysts
12 bullish · 0 bearish · 28 covering IVZ
Strong Buy
0
Buy
12
Hold
16
Sell
0
Strong Sell
0
Consensus Target
$30
+10.8% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
28
Published analyst ratings
Valuation Context
10.4x
Forward P/E · Market cap $11.9B
IVZ price targets
Three scenarios for where IVZ stock could go
Current
~$27
Confidence
36 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Invesco Ltd.
IVZ · NYSEFinancial ServicesAsset ManagementDecember year-end
Invesco is a global asset management firm that provides investment products and services to institutional and retail clients. It generates revenue primarily through management fees on its extensive portfolio of mutual funds, ETFs, and separate accounts — with its ETF business, including the PowerShares brand, representing a significant growth segment. The company's competitive advantage lies in its diversified product platform, global distribution network, and scale in the ETF market, which provides cost efficiencies and broad market access.
Market Cap
$11.9B
Net Income TTM
-$243M
IVZ Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
58%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+3.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 2 of 4Q3 2025
EPS
$0.36/$0.41
Revenue
$1.5B/$1.2B
Q4 2025
EPS
$0.61/$0.45
Revenue
$1.6B/$1.2B
Q1 2026
EPS
$0.62/$0.58
Revenue
$1.3B/$1.3B
Q2 2026
EPS
$0.57/$0.58
Revenue
$1.3B/$1.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.36/$0.41 | -12.2% | $1.5B/$1.2B | +29.4% |
| Q4 2025 | $0.61/$0.45 | +36.1% | $1.6B/$1.2B | +39.5% |
| Q1 2026 | $0.62/$0.58 | +6.9% | $1.3B/$1.3B | +0.4% |
| Q2 2026 | $0.57/$0.58 | -1.7% | $1.3B/$1.3B | -0.3% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$6.3B
-0.6% YoY
FY2
$6.8B
+6.5% YoY
EPS Outlook
FY1
$1.22
+327.1% YoY
FY2
$1.16
-4.9% YoY
Trailing FCF (TTM)$1.9B
Next Earnings
—
Expected EPS
—
Expected Revenue
—
IVZ beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
IVZ Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $6.4B
Product Mix
Latest annual revenue by segment or product family
Investment Advice
72.4%
+6.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Americas
74.7%
+2.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Investment Advice is the largest disclosed segment at 72.4% of FY 2025 revenue, up 6.3% YoY.
Americas is the largest reported region at 74.7%, up 2.4% YoY.
IVZ Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $27 — implies +3.8% from today's price.
Upside to Fair Value
3.8%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
IVZ
-16.8x
vs
S&P 500
25.1x
167% discount
vs Financial Services Trailing P/E
IVZ
-16.8x
vs
Financial Services
13.3x
226% discount
vs IVZ 5Y Avg P/E
Today
-16.8x
vs
5Y Average
11.5x
245% discount
Forward PE
10.4x
S&P 500
19.1x
-45%
Financial Services
10.4x
+0%
5Y Avg
—
—
Trailing PE
-16.8x
S&P 500
25.1x
-167%
Financial Services
13.3x
-226%
5Y Avg
11.5x
-245%
PEG Ratio
—
S&P 500
1.72x
—
Financial Services
1.01x
—
5Y Avg
—
—
EV/EBITDA
16.3x
S&P 500
15.2x
+7%
Financial Services
11.4x
+43%
5Y Avg
13.4x
+22%
Price/FCF
8.3x
S&P 500
21.1x
-61%
Financial Services
10.6x
-22%
5Y Avg
10.0x
-17%
Price/Sales
1.9x
S&P 500
3.1x
-40%
Financial Services
2.2x
-16%
5Y Avg
1.5x
+24%
Dividend Yield
3.10%
S&P 500
1.87%
+66%
Financial Services
2.70%
+15%
5Y Avg
3.83%
-19%
| Metric | IVZ | S&P 500 | Financial Services | 5Y Avg IVZ |
|---|---|---|---|---|
| Forward PE | 10.4x | 19.1x-45% | 10.4x | — |
| Trailing PE | -16.8x | 25.1x-167% | 13.3x-226% | 11.5x-245% |
| PEG Ratio | — | 1.72x | 1.01x | — |
| EV/EBITDA | 16.3x | 15.2x | 11.4x+43% | 13.4x+22% |
| Price/FCF | 8.3x | 21.1x-61% | 10.6x-22% | 10.0x-17% |
| Price/Sales | 1.9x | 3.1x-40% | 2.2x-16% | 1.5x+24% |
| Dividend Yield | 3.10% | 1.87% | 2.70% | 3.83% |
IVZ trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolIVZ Financial Health
Verdict
Stressed
IVZ generates -1.7% ROE and -0.9% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
—
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
—
Net Margin
Net income divided by revenue
—
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-0.54
ROE
Return on equity — the primary profitability signal for banks
-1.7%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-2.3%
ROA
Return on assets, trailing twelve months
-0.9%
Cash & Equivalents
Liquid assets on the balance sheet
$2.0B
Net Debt
Total debt minus cash
$8.1B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
-1.7%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
18.7%
Dividend
3.1%
Buyback
15.6%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.9B
Dividend / Share
Annualized trailing dividend per share
$0.83
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
444M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageIVZ Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Financial Health and Solvency
Invesco's Altman-Z score of 0.89 places it in the distress zone, indicating a risk of bankruptcy. The company's current and quick ratios of 0.80 suggest potential difficulties in meeting short-term obligations, while a debt-to-equity ratio of 0.77 reflects reliance on debt financing.
High Risk
Market Volatility
Fluctuations in global capital and credit markets, along with adverse economic changes, can significantly impact Invesco's assets under management (AUM), revenues, and net income. Selling investments before maturity due to market conditions may lead to a loss of principal.
Medium
Fee Compression and Competition
Invesco is experiencing ongoing pressure from fee compression and intense competition in both active and passive investment products. This competitive landscape can lead to a decline in management fee rates and potential withdrawals, adversely affecting AUM, revenue, and net income.
Medium
Operational Efficiency
A declining realization rate from 0.274% to less than 0.231% indicates potential issues with fee generation and operational efficiency. This decline may impact the company's ability to charge for billable work effectively.
Lower
Foreign Exchange Fluctuations
Invesco's significant exposure to foreign exchange fluctuations can adversely affect its earnings, particularly due to its international operations. Changes in currency exchange rates may impact profitability.
Lower
Preferred Stock
The issuance of perpetual preferred stock may limit Invesco's ability to raise additional capital and could restrict its flexibility in funding other priorities. This could pose challenges in managing financial resources effectively.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why IVZ Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Strong Performance and AUM Growth
Invesco shares have outperformed the S&P 500, delivering significant total returns. Assets under management have grown substantially, reaching $2.2 trillion as of Q1 2026, driven by inflows into ETFs and index products.
QQQ Fund Conversion
The planned conversion of QQQ from a unit investment trust to an open-ended ETF is expected to boost Invesco's annual revenue by an estimated $140 million, with much of this flowing directly to net income. This conversion is seen as a major positive for the stock.
Diversified Business Model
Invesco's broad range of investment capabilities, including active, passive, and alternative strategies, positions it well for continued stabilization and growth. The firm's focus on broadening wealth management exposure, particularly in alternative credit and real estate, is also a strategic positive.
Improved Profitability and Operating Leverage
The company has demonstrated improved operating margins, with the adjusted operating margin reaching 34.5% in Q1 2026. This is attributed to revenue growth and well-managed expenses, indicating effective cost management and operating leverage.
Strategic Initiatives and Product Innovation
Invesco continues to advance strategically important investment capabilities and vehicles, launching innovative products. Their leadership in ETFs, alternatives, and emerging markets is seen as reducing reliance on traditional active equity and supporting multi-year growth.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
IVZ Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$26.83
52W Range Position
82%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$14.04
+91.1% from the low
52-Week High
$29.61
-9.4% from the high
1 Month
+17.26%
3 Month
+4.11%
YTD
-0.4%
1 Year
+87.2%
3Y CAGR
+17.4%
5Y CAGR
-0.6%
10Y CAGR
-0.9%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
IVZ vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
10.4x
vs 9.5x median
+10% above peer median
Revenue Growth
-0.6%
vs +2.9% median
-119% below peer median
Net Margin
—
vs — median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
IVZ IVZ Invesco Ltd. | $11.9B | 10.4x | -0.6% | — | Hold | +10.8% |
BEN BEN Franklin Resources, Inc. | $15.8B | 11.2x | -1.3% | — | Hold | -5.6% |
TRO TROW T. Rowe Price Group, Inc. | $22.7B | 11.3x | +2.9% | — | Hold | -2.8% |
AMG AMG Affiliated Managers Group, Inc. | $8.1B | 9.2x | +15.4% | — | Buy | +9.2% |
VRT VRTS Virtus Investment Partners, Inc. | $959M | 5.6x | -8.6% | — | Hold | +13.8% |
DHI DHIL Diamond Hill Investment Group, Inc. | $473M | 9.5x | +20.5% | — | — | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
IVZ Dividend and Capital Return
IVZ returns capital mainly through $1.9B/year in buybacks (15.6% buyback yield), with a modest 3.10% dividend — combining for 18.7% total shareholder yield.
Dividend UnknownFCF Well Covered
Total Shareholder Yield
18.7%
Dividend + buyback return per year
Buyback Yield
15.6%
Dividend Yield
3.10%
Payout Ratio
—
How IVZ Splits Its Return
Div 3.10%
Buyback 15.6%
Dividend 3.10%Buybacks 15.6%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.83
Growth Streak
Consecutive years of dividend increases
4Y
3Y Div CAGR
4.5%
5Y Div CAGR
1.5%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
5 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.9B
Estimated Shares Retired
69M
Approx. Share Reduction
15.6%
Shares Outstanding
Current diluted share count from the screening snapshot
444M
At 15.6%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.43 | — | — | — |
| 2025 | $0.83 | +2.5% | 15.6% | 18.8% |
| 2024 | $0.81 | +3.5% | 1.0% | 5.6% |
| 2023 | $0.79 | +7.5% | 2.3% | 6.7% |
| 2022 | $0.73 | +10.2% | 3.0% | 7.0% |
FAQ
7 questionsIVZ Investor Questions
Common questions answered from live analyst data and company financials.
01Is Invesco Ltd. (IVZ) stock a buy or sell in 2026?
Invesco Ltd. (IVZ) is rated Hold by Wall Street analysts as of 2026. Of 28 analysts covering the stock, 12 rate it Buy or Strong Buy, 16 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $30, implying +10.8% from the current price of $27.
02What is the IVZ stock price target for 2026?
The Wall Street consensus price target for IVZ is $30 based on 28 analyst estimates. The high-end target is $35 (+28.6% from today), and the low-end target is $26 (-3.1%).
03Is Invesco Ltd. (IVZ) stock overvalued in 2026?
IVZ trades at 10.4x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Invesco Ltd. (IVZ) stock in 2026?
The primary risks for IVZ in 2026 are: (1) Financial Health and Solvency — Invesco's Altman-Z score of 0. (2) Market Volatility — Fluctuations in global capital and credit markets, along with adverse economic changes, can significantly impact Invesco's assets under management (AUM), revenues, and net income. (3) Fee Compression and Competition — Invesco is experiencing ongoing pressure from fee compression and intense competition in both active and passive investment products. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Invesco Ltd.'s revenue and earnings forecast?
Analyst consensus estimates IVZ will report consensus revenue of $6.3B (-0.6% year-over-year) and EPS of $1.22 (+327.1% year-over-year) for the upcoming fiscal year. The following year, analysts project $6.8B in revenue.
06When does Invesco Ltd. (IVZ) report its next earnings?
A confirmed upcoming earnings date for IVZ is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Invesco Ltd. generate?
Invesco Ltd. (IVZ) generated $1.9B in free cash flow over the trailing twelve months. IVZ returns capital to shareholders through dividends (3.1% yield) and share repurchases ($1.9B TTM).