Invesco Ltd.

IVZ · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997
Valuation
Market cap	$11,693	$7,856	$8,020	$8,182	$10,617	$8,039	$8,292	$7,721	$16,852	$13,993	$15,441	$17,191	$16,289	$11,801	$9,300	$11,077	$9,800	$5,580	$12,113	–	–	–	–	$2,663	$5,918	$7,141	$3,579	$2,439	$2,256
Enterprise value	$19,757	$14,980	$16,169	$7,604	$9,135	$7,457	$7,741	$7,738	$21,635	$13,367	$21,591	$22,891	$21,240	$16,419	$16,105	$18,305	$10,309	$6,760	$13,417	–	–	–	–	$3,297	$6,657	$8,088	$4,338	$3,379	$2,186
P/E (TTM) at period end	–	14.60×	–	11.96×	7.62×	15.32×	14.68×	8.75×	14.95×	16.87×	16.37×	17.91×	17.94×	17.43×	12.74×	23.79×	30.39×	11.58×	17.98×	–	–	–	–	97.83×	26.25×	16.55×	12.24×	15.62×	11.68×
P/S (TTM) at period end	1.83×	1.29×	1.40×	1.35×	1.54×	1.31×	1.36×	1.45×	3.27×	2.96×	3.01×	3.34×	3.51×	2.91×	2.34×	3.27×	3.73×	1.69×	3.12×	–	–	–	–	1.23×	2.51×	2.93×	2.07×	1.83×	2.57×
P/B at period end	0.96×	0.54×	0.55×	0.54×	0.69×	0.56×	0.60×	0.90×	1.94×	1.86×	1.96×	2.06×	1.94×	1.42×	1.15×	1.34×	1.42×	0.98×	1.84×	–	–	–	–	0.72×	1.78×	2.27×	5.07×	4.44×	–
EV / EBITDA (TTM)	–	14.81×	–	5.03×	4.58×	6.63×	7.85×	5.74×	15.50×	10.66×	14.87×	16.75×	17.57×	17.51×	16.11×	27.07×	18.35×	8.29×	12.44×	–	–	–	–	5.72×	8.60×	8.42×	6.40×	7.18×	6.48×
EV / Sales (TTM)	3.10×	2.47×	2.83×	1.26×	1.32×	1.21×	1.27×	1.46×	4.19×	2.82×	4.21×	4.45×	4.57×	4.05×	4.04×	5.41×	3.92×	2.04×	3.46×	–	–	–	–	1.52×	2.82×	3.32×	2.50×	2.54×	2.49×
Returns
Return on equity	(5.9%)	3.7%	(2.3%)	4.5%	9.0%	3.7%	4.1%	10.3%	13.0%	11.1%	12.0%	11.5%	10.8%	8.1%	9.0%	5.6%	4.7%	8.5%	10.2%	8.0%	5.9%	(1.0%)	(0.8%)	0.7%	6.8%	13.7%	41.5%	28.4%	–
Return on invested capital	(1.5%)	2.9%	(1.4%)	4.2%	5.9%	3.1%	2.8%	6.1%	7.5%	6.5%	6.7%	6.4%	6.1%	4.3%	4.0%	2.8%	3.7%	6.9%	8.8%	6.3%	5.8%	–	–	0.9%	6.2%	12.5%	22.3%	16.9%	–
Dividend yield	3.2%	4.7%	4.5%	4.1%	2.9%	4.4%	6.4%	6.4%	2.8%	3.3%	2.9%	2.5%	2.3%	2.4%	2.4%	1.8%	1.7%	3.7%	1.3%	–	–	–	–	5.7%	2.1%	1.3%	2.5%	3.0%	1.9%
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	1.44×	1.29×	1.31×	1.36×	1.13×	1.15×	1.04×	1.08×	1.01×	1.21×	1.01×	1.14×	1.51×	1.13×	1.25×	1.34×
Debt / equity	0.15×	0.06×	0.10×	0.10×	0.13×	0.15×	0.16×	0.30×	0.33×	0.37×	0.33×	0.28×	–	0.14×	0.16×	0.16×	0.11×	0.20×	0.19×	0.21×	0.34×	0.39×	0.33×	0.36×	0.43×	0.46×	1.51×	2.07×	(1.33×)
Effective tax rate	53.9%	25.2%	29.3%	25.8%	21.2%	24.5%	24.2%	22.4%	18.8%	28.0%	29.2%	28.0%	26.8%	31.5%	31.4%	23.5%	41.5%	35.9%	28.7%	35.0%	42.0%	173.5%	147.5%	83.5%	44.8%	35.5%	36.0%	35.8%	34.0%
Share count
Diluted shares outstanding	455	458	456	460	465	462	440	412	410	415	429	436	448	454	465	463	424	398	398	811	801	802	807	845	815	688	667	650	568

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997
Revenue and gross profit
Revenue	$6,902	$6,377	$6,067	$5,716	$6,049	$6,894	$6,146	$6,117	$5,314	$5,160	$4,734	$5,123	$5,147	$4,645	$4,050	$3,982	$3,386	$2,627	$3,308	$3,879	$3,247	$2,873	$2,221	$2,065	$2,168	$2,359	$2,435	$1,733	$1,331	$877
Cost of revenue	($2,248)	($3,624)	($4,040)	($3,711)	($3,611)	($4,061)	($3,756)	($3,602)	($3,103)	($2,986)	($2,777)	($2,975)	($3,025)	($2,818)	($2,536)	–	($2,169)	–	–	–	–	–	($1,648)	($1,511)	($1,577)	($1,597)	($1,474)	($1,055)	($861)	($539)
Gross profit	$4,654	$2,753	$2,027	$2,005	$2,438	$2,834	$2,390	$2,515	$2,212	$2,174	$1,958	$2,148	$2,122	$1,826	$1,514	–	$1,319	–	–	–	–	–	$573	$554	$591	$762	$961	$677	$471	$338
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	($12)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($581)	($576)	($595)	($568)	($494)	($424)	($481)	($404)	($324)	($307)	($294)	($362)	($396)	($311)	($296)	($282)	($248)	($167)	($266)	($296)	($2,244)	($2,115)	($2,037)	–	–	–	–	–	–	–
Total operating expenses	($5,144)	($3,449)	($1,195)	($2,440)	($1,120)	($1,046)	($1,470)	($1,707)	($1,007)	($895)	($805)	($789)	($845)	($706)	($672)	–	($740)	–	–	–	–	–	($781)	($417)	($352)	($288)	($165)	($167)	($79)	($30)
Total costs and expenses	($7,392)	($7,073)	($5,235)	($6,151)	($4,731)	($5,106)	($5,225)	($5,309)	($4,109)	($3,881)	($3,582)	($3,764)	($3,870)	($3,524)	($3,208)	($3,100)	($2,806)	($2,143)	($2,560)	($2,885)	($2,461)	($2,465)	($2,430)	($1,928)	($1,929)	($1,884)	($1,639)	($1,222)	($939)	($569)
Operating income	($490)	($696)	$832	($435)	$1,318	$1,788	$920	$808	$1,205	$1,279	$1,152	$1,358	$1,277	$1,120	$843	$882	$579	$484	$748	$994	$785	$408	($209)	$137	$239	$475	$796	$511	$392	$307
Earnings
EBITDA	($350)	($540)	$1,012	($252)	$1,513	$1,994	$1,124	$986	$1,347	$1,396	$1,254	$1,452	$1,366	$1,209	$938	$1,000	$676	$562	$815	$1,078	$853	$502	($86)	$494	$577	$774	$961	$677	$471	$338
Interest income	$51	$54	$59	$48	$24	$25	$20	$28	$21	$13	$12	$13	$13	$10	$10	$11	$10	$10	$37	$48	–	–	–	–	–	–	–	–	–	–
Interest expense	($97)	($82)	($58)	($70)	($85)	($95)	($129)	($136)	($112)	($95)	($93)	($82)	($73)	($45)	($52)	($62)	($59)	($64)	($77)	($71)	–	–	–	–	–	–	–	–	–	–
Pre-tax income	($243)	($379)	$1,005	($238)	$1,248	$2,500	$1,069	$973	$1,138	$1,429	$1,207	$1,362	$1,395	$1,255	$831	$892	$823	$358	$657	$1,244	$755	$360	$39	$65	$165	$408	$745	$457	$349	$293
Income tax expense	$162	$205	($253)	$70	($322)	($531)	($262)	($235)	($255)	($268)	($338)	($398)	($391)	($337)	($261)	($280)	($193)	($148)	($236)	($357)	($264)	($151)	($68)	($96)	($138)	($183)	($264)	($165)	($125)	($100)
Net income	($82)	($175)	$538	($334)	$684	$1,393	$525	$565	$883	$1,127	$854	$968	$988	$940	$677	$730	$466	$322	$482	$674	$490	$212	($36)	($31)	$27	$225	$431	$293	$156	$193
Per share
Diluted EPS (GAAP)	($0.68)	($1.60)	$1.18	($0.73)	$1.49	$2.99	$1.13	$1.28	$2.14	$2.75	$2.06	$2.26	$2.27	$2.10	$1.49	$1.57	$1.01	$0.76	$1.21	$1.64	$0.60	$0.27	($0.0451)	($0.0382)	$0.0322	$0.28	$0.63	$0.44	$0.24	$0.34
Basic EPS (GAAP)	($0.68)	($1.60)	$1.18	($0.73)	$1.50	$3.01	$1.14	$1.29	$2.14	$2.75	$2.06	$2.26	$2.27	$2.10	$1.50	$1.58	$1.01	$0.77	$1.24	$1.68	$0.62	$0.27	($0.0453)	($0.0384)	$0.0322	$0.28	$0.66	$0.46	$0.25	$0.37
Basic shares outstanding	452	453	457	455	458	463	460	438	412	409	415	429	435	448	452	463	460	417	386	386	791	794	799	804	845	815	656	634	634	522
Margins
Gross margin	67.4%	43.2%	33.4%	35.1%	40.3%	41.1%	38.9%	41.1%	41.6%	42.1%	41.4%	41.9%	41.2%	39.3%	37.4%	–	39.0%	–	–	–	–	–	25.8%	26.8%	27.3%	32.3%	39.5%	39.1%	35.3%	38.5%
Operating margin	(7.1%)	(10.9%)	13.7%	(7.6%)	21.8%	25.9%	15.0%	13.2%	22.7%	24.8%	24.3%	26.5%	24.8%	24.1%	20.8%	22.2%	17.1%	18.4%	22.6%	25.6%	24.2%	14.2%	(9.4%)	6.6%	11.0%	20.1%	32.7%	29.5%	29.4%	35.1%
Net margin	(1.2%)	(2.7%)	8.9%	(5.8%)	11.3%	20.2%	8.5%	9.2%	16.6%	21.8%	18.0%	18.9%	19.2%	20.2%	16.7%	18.3%	13.8%	12.3%	14.6%	17.4%	15.1%	7.4%	(1.6%)	(1.5%)	1.3%	9.6%	17.7%	16.9%	11.7%	22.0%

Analyst consensus

Hold28 analysts

Bearish · 0 · Hold · 16 · Bullish · 12

Earnings history

	EPS	Estimate
Q3 2024	$0.44	$0.43	Beat
Q4 2024	$0.52	$0.48	Beat
Q1 2025	$0.44	$0.39	Beat
Q2 2025	$0.36	$0.41	Miss
Q3 2025	$0.61	$0.45	Beat
Q4 2025	$0.62	$0.58	Beat
Q1 2026	$0.57	$0.58	Miss
Q2 2026	$0.71	$0.67	Beat

Peers

Company overview

IPO dateAug 24, 1995

CEOAndrew Ryan Schlossberg

Employees7,405

SectorFinancial Services

IndustryAsset Management

CountryUS

ExchangeNew York Stock Exchange

Websitewww.invesco.com

Invesco Ltd. engages in the investment management business. Its products include mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.