NYSE : IVZ
Invesco Ltd. — Financial statements
Financials · Asset Management · United States
Last price 29.02 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 12.75B
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Financial statements
Invesco Ltd. (IVZ) reported revenue of 7.14B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 6.94B | 6.17B | 5.87B | 5.53B | 5.83B | 6.65B |
| Other Revenue | 196.20M | 202.20M | 198.60M | 189.10M | 216.80M | 246.10M |
| Revenue | 7.14B | 6.38B | 6.07B | 5.72B | 6.05B | 6.89B |
| Cost of Revenue | 4.92B | 4.55B | 4.37B | 4.16B | 4.06B | 4.59B |
| Gross Profit | 2.22B | 1.82B | 1.70B | 1.56B | 1.99B | 2.31B |
| Selling, General & Admin | 712.50M | 660.50M | 623.50M | 649.70M | 658.20M | 522.70M |
| Amortization of Goodwill & Intangibles | 32.90M | 37.50M | 44.80M | 49.90M | 63.80M | 62.90M |
| Operating Expenses | 745.40M | 698.00M | 668.30M | 699.60M | 722.00M | 585.60M |
| Operating Income | 1.47B | 1.12B | 1.03B | 855.70M | 1.27B | 1.72B |
| Interest Expense | -82.50M | -58.00M | -70.50M | -85.20M | -94.70M | |
| Interest & Investment Income | 64.30M | 170.20M | 198.40M | 47.80M | 24.40M | 25.20M |
| Earnings From Equity Investments | 137.10M | 104.80M | 43.00M | 71.30M | 106.10M | 152.30M |
| Other Non Operating Income (Expenses) | 86.10M | 55.90M | 47.70M | 324.60M | -115.30M | 629.50M |
| EBT Excluding Unusual Items | 1.76B | 1.37B | 1.26B | 1.23B | 1.20B | 2.43B |
| Merger & Restructuring Charges | -16.90M | -41.60M | -21.20M | 65.90M | ||
| Gain (Loss) on Sale of Investments | -125.10M | 67.90M | -57.90M | -176.30M | ||
| Asset Writedown | -1.76B | -1.80B | -1.25B | |||
| Legal Settlements | -52.50M | |||||
| Other Unusual Items | -147.60M | |||||
| Pretax Income | -125.90M | -379.40M | 1.01B | -237.90M | 1.25B | 2.50B |
| Income Tax Expense | -43.60M | -204.60M | 252.90M | -69.70M | 322.20M | 531.10M |
| Earnings From Continuing Operations | -82.30M | -174.80M | 752.40M | -168.20M | 925.50M | 1.97B |
| Minority Interest in Earnings | 3.60M | -106.90M | 22.40M | 71.30M | -4.80M | -339.60M |
| Net Income | -78.70M | -281.70M | 774.80M | -96.90M | 920.70M | 1.63B |
| Preferred Dividends & Other Adjustments | 237.30M | 444.60M | 236.80M | 236.80M | 236.80M | 236.80M |
| Net Income to Common | -316.00M | -726.30M | 538.00M | -333.70M | 683.90M | 1.39B |
| Shares Outstanding (Basic) | 450.72M | 452.60M | 457.00M | 454.80M | 457.50M | 462.80M |
| Shares Outstanding (Diluted) | 450.72M | 455.00M | 457.70M | 456.20M | 459.50M | 465.40M |
| EPS (Basic) | -0.70 | -1.60 | 1.18 | -0.73 | 1.49 | 3.01 |
| EPS (Diluted) | -0.70 | -1.60 | 1.18 | -0.73 | 1.49 | 2.99 |
| Free Cash Flow | 1.79B | 1.44B | 1.12B | 1.14B | 510.30M | 969.30M |
| Free Cash Flow Per Share | 3.98 | 3.17 | 2.45 | 2.49 | 1.11 | 2.08 |
| Dividend Per Share | 0.85 | 0.84 | 0.82 | 0.80 | 0.75 | 0.68 |
| Gross Margin | 31.06% | 28.57% | 28.03% | 27.21% | 32.91% | 33.48% |
| Operating Margin | 20.61% | 17.63% | 17.01% | 14.97% | 20.98% | 24.98% |
| Profit Margin | -4.43% | -11.39% | 8.87% | -5.84% | 11.31% | 20.21% |
| Free Cash Flow Margin | 25.13% | 22.60% | 18.48% | 19.88% | 8.44% | 14.06% |
| EBITDA | 1.58B | 1.28B | 1.21B | 1.04B | 1.46B | 1.93B |
| EBITDA Margin | 22.14% | 20.07% | 19.97% | 18.17% | 24.21% | 27.96% |
| D&A For EBITDA | 109.40M | 155.90M | 179.60M | 182.80M | 195.30M | 205.30M |
| EBIT | 1.47B | 1.12B | 1.03B | 855.70M | 1.27B | 1.72B |
| EBIT Margin | 20.61% | 17.63% | 17.01% | 14.97% | 20.98% | 24.98% |
| Effective Tax Rate | 25.16% | 25.82% | 21.24% | |||
| Revenue as Reported | 7.14B | 6.38B | 6.07B | 5.72B | 6.05B | 6.89B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 965.50M | 1.04B | 986.50M | 1.47B | 1.23B | 1.90B |
| Short-Term Investments | 25.70M | 30.40M | ||||
| Cash & Short-Term Investments | 965.50M | 1.04B | 986.50M | 1.47B | 1.26B | 1.93B |
| Receivables | 884.70M | 740.80M | 701.50M | 801.80M | 785.00M | |
| Total Current Assets | 965.50M | 1.92B | 1.73B | 2.17B | 2.06B | 2.71B |
| Property, Plant & Equipment | 676.10M | 479.00M | 599.50M | 561.10M | 518.10M | |
| Long-Term Investments | 1.37B | 1.25B | 1.02B | 722.40M | 824.80M | 669.30M |
| Goodwill | 8.48B | 8.32B | 8.69B | 8.56B | 8.88B | |
| Other Intangible Assets | 12.30B | 3.93B | 5.75B | 5.85B | 7.14B | 7.23B |
| Long-Term Deferred Tax Assets | 30.00M | 19.90M | ||||
| Other Long-Term Assets | 13.02B | 10.84B | 9.71B | 10.90B | 10.58B | 12.66B |
| Total Assets | 27.65B | 27.09B | 27.01B | 28.93B | 29.76B | 32.69B |
| Accounts Payable | 20.40M | 30.60M | 31.50M | 59.60M | 39.20M | |
| Accrued Expenses | 1.76B | 1.61B | 1.86B | 1.47B | 1.72B | |
| Current Portion of Long-Term Debt | 499.90M | 599.90M | 599.40M | |||
| Current Portion of Leases | 66.60M | |||||
| Current Income Taxes Payable | 100.10M | 146.00M | 110.50M | 89.10M | 80.60M | |
| Total Current Liabilities | 2.44B | 1.79B | 2.60B | 1.62B | 2.44B | |
| Long-Term Debt | 1.28B | 1.33B | 890.60M | 889.60M | 1.49B | 1.49B |
| Long-Term Leases | 340.10M | 454.90M | 433.70M | 480.20M | 289.80M | |
| Long-Term Deferred Tax Liabilities | 901.50M | 1.28B | 1.33B | 1.66B | 1.63B | |
| Other Long-Term Liabilities | 12.74B | 9.08B | 6.92B | 7.77B | 7.67B | 10.17B |
| Total Liabilities | 14.02B | 14.09B | 11.34B | 13.02B | 12.91B | 16.01B |
| Common Stock | 12.63B | 113.20M | 113.20M | 113.20M | 113.20M | 113.20M |
| Additional Paid-In Capital | 7.27B | 7.33B | 7.45B | 7.55B | 7.69B | |
| Retained Earnings | 5.89B | 6.99B | 6.83B | 7.52B | 7.17B | |
| Treasury Stock | -2.83B | -2.85B | -3.00B | -3.04B | -3.04B | |
| Comprehensive Income & Other | -722.90M | -1.04B | -801.80M | -942.40M | -441.50M | |
| Total Common Equity | 12.63B | 9.72B | 10.55B | 10.59B | 11.20B | 11.49B |
| Minority Interest | 998.60M | 773.90M | 1.11B | 1.32B | 1.63B | 1.18B |
| Shareholders' Equity | 13.63B | 13.00B | 15.67B | 15.92B | 16.84B | 16.68B |
| Total Liabilities & Equity | 27.65B | 27.09B | 27.01B | 28.93B | 29.76B | 32.69B |
| Total Debt | 1.28B | 2.23B | 1.35B | 1.92B | 1.97B | 2.37B |
| Net Cash (Debt) | -315.80M | -1.19B | -359.00M | -454.00M | -707.40M | -448.10M |
| Net Cash Per Share | -0.70 | -2.62 | -0.78 | -1.00 | -1.54 | -0.96 |
| Filing Date Shares Outstanding | 439.50M | 443.67M | 447.60M | 449.20M | 454.75M | 460.75M |
| Total Common Shares Outstanding | 439.50M | 444.00M | 448.00M | 449.50M | 454.80M | 461.20M |
| Working Capital | 965.50M | -521.50M | -62.90M | -433.00M | 446.20M | 274.60M |
| Book Value Per Share | 28.74 | 21.89 | 23.55 | 23.55 | 24.63 | 24.90 |
| Tangible Book Value | 334.60M | -2.68B | -3.52B | -3.95B | -4.50B | -4.63B |
| Tangible Book Value Per Share | 0.76 | -6.04 | -7.85 | -8.79 | -9.89 | -10.03 |
| Land | 91.90M | 85.20M | 87.30M | 87.80M | 98.70M | |
| Machinery | 218.90M | 240.30M | 267.60M | 273.20M | 289.10M | |
| Construction In Progress | 30.00M | 62.40M | 111.60M | 173.10M | 74.30M | |
| Leasehold Improvements | 244.80M | 267.30M | 277.70M | 226.20M | 233.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -281.70M | -281.70M | 774.80M | -96.90M | 920.70M | 1.63B |
| Depreciation & Amortization | 155.90M | 155.90M | 179.60M | 182.80M | 195.30M | 205.30M |
| Loss (Gain) From Sale of Assets | -52.40M | -52.40M | -45.10M | -97.30M | 139.50M | -120.50M |
| Asset Writedown & Restructuring Costs | 1.79B | 1.79B | 1.25B | |||
| Loss (Gain) From Sale of Investments | -67.90M | -67.90M | 57.90M | 176.30M | 126.90M | -390.00M |
| Loss (Gain) on Equity Investments | -58.00M | -58.00M | 39.10M | -1.90M | -31.90M | -104.10M |
| Stock-Based Compensation | 80.00M | 80.00M | 104.60M | 114.60M | 106.20M | 140.10M |
| Other Operating Activities | 459.20M | 106.90M | -22.40M | -71.30M | 4.80M | 339.60M |
| Change in Accounts Receivable | -5.60M | -5.60M | 319.70M | 448.70M | 912.80M | 5.58B |
| Change in Accounts Payable | -210.80M | -210.80M | -173.50M | -621.70M | -1.28B | -5.88B |
| Change in Other Net Operating Assets | 64.00M | 64.00M | -44.70M | 18.60M | -386.80M | -327.80M |
| Operating Cash Flow | 1.88B | 1.53B | 1.19B | 1.30B | 703.20M | 1.08B |
| Capital Expenditures | -84.30M | -84.30M | -69.10M | -164.30M | -192.90M | -108.80M |
| Divestitures | 236.50M | 236.50M | ||||
| Investment in Securities | -1.13B | -1.13B | 178.60M | -117.90M | -166.10M | -717.30M |
| Other Investing Activities | -523.10M | 600.00K | -41.10M | 37.90M | -16.60M | -21.80M |
| Investing Cash Flow | -1.50B | -974.40M | 68.40M | -244.30M | -375.60M | -847.90M |
| Long-Term Debt Issued | 3.79B | 2.27B | ||||
| Long-Term Debt Repaid | -2.86B | -2.87B | -600.00M | |||
| Net Debt Issued (Repaid) | 930.40M | 930.40M | -600.00M | -600.00M | ||
| Repurchase of Common Stock | -123.60M | -123.60M | -79.30M | -187.50M | -244.70M | -60.90M |
| Preferred Dividends Paid | -204.60M | -204.60M | -236.80M | -236.80M | -236.80M | -236.80M |
| Common Dividends Paid | -377.30M | -377.30M | -371.50M | -357.90M | -334.80M | -307.70M |
| Dividends Paid | -581.90M | -581.90M | -608.30M | -594.70M | -571.60M | -544.50M |
| Other Financing Activities | 1.39B | 1.37B | -374.00M | 196.80M | 449.40M | 722.70M |
| Financing Cash Flow | -128.30M | -149.50M | -1.66B | -585.40M | -966.90M | 117.30M |
| Foreign Exchange Rate Adjustments | -36.70M | 82.40M | -32.40M | 26.40M | -73.70M | -39.70M |
| Net Cash Flow | 214.50M | 483.80M | -435.60M | 497.50M | -713.00M | 307.80M |
| Free Cash Flow | 1.79B | 1.44B | 1.12B | 1.14B | 510.30M | 969.30M |
| Free Cash Flow Margin | 25.13% | 22.60% | 18.48% | 19.88% | 8.44% | 14.06% |
| Free Cash Flow Per Share | 3.98 | 3.17 | 2.45 | 2.49 | 1.11 | 2.08 |
| Levered Free Cash Flow | 745.70M | 571.08M | 1.11B | 609.81M | 16.70B | |
| Unlevered Free Cash Flow | 797.26M | 607.33M | 1.16B | 663.06M | 16.76B | |
| Cash Interest Paid | 77.20M | 77.20M | 53.60M | 68.20M | 67.40M | 85.70M |
| Cash Income Tax Paid | 238.70M | 238.70M | 236.30M | 195.10M | 301.40M | 431.70M |
| Change in Working Capital | -152.40M | -152.40M | 101.50M | -154.40M | -758.30M | -622.10M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.20B | 11.69B | 7.86B | 8.02B | 8.18B | 10.62B |
| Enterprise Value | 12.52B | 16.14B | 12.86B | 13.62B | 14.23B | 16.10B |
| Last Close Price | 27.77 | 25.69 | 16.37 | 15.89 | 15.25 | 18.76 |
| PE Ratio | 14.60 | 11.96 | 7.62 | |||
| Forward PE | 8.84 | 10.98 | 9.35 | 11.76 | 11.54 | 7.56 |
| PS Ratio | 1.71 | 1.83 | 1.29 | 1.40 | 1.35 | 1.54 |
| PB Ratio | 0.97 | 0.90 | 0.50 | 0.50 | 0.49 | 0.64 |
| P/FCF Ratio | 6.81 | 8.11 | 7.01 | 7.06 | 16.03 | 10.95 |
| P/OCF Ratio | 6.50 | 7.67 | 6.60 | 6.17 | 11.63 | 9.85 |
| PEG Ratio | 0.37 | 0.52 | 0.81 | 2.57 | 2.69 | 0.31 |
| EV/Sales Ratio | 1.75 | 2.53 | 2.12 | 2.38 | 2.35 | 2.34 |
| EV/EBITDA Ratio | 7.92 | 12.61 | 10.62 | 13.11 | 9.72 | 8.36 |
| EV/EBIT Ratio | 8.51 | 14.36 | 12.46 | 15.91 | 11.22 | 9.35 |
| EV/FCF Ratio | 6.98 | 11.20 | 11.48 | 11.98 | 27.89 | 16.61 |
| Debt / Equity Ratio | 0.09 | 0.17 | 0.09 | 0.12 | 0.12 | 0.14 |
| Debt / EBITDA Ratio | 0.77 | 1.63 | 1.03 | 1.69 | 1.26 | 1.17 |
| Debt / FCF Ratio | 0.71 | 1.55 | 1.20 | 1.69 | 3.86 | 2.45 |
| Net Debt / Equity Ratio | 0.02 | 0.09 | 0.02 | 0.03 | 0.04 | 0.03 |
| Net Debt / EBITDA Ratio | 0.20 | 0.93 | 0.30 | 0.44 | 0.48 | 0.23 |
| Net Debt / FCF Ratio | 0.18 | 0.83 | 0.32 | 0.40 | 1.39 | 0.46 |
| Asset Turnover | 0.25 | 0.24 | 0.22 | 0.20 | 0.19 | 0.20 |
| Quick Ratio | 0.79 | 0.96 | 0.83 | 1.28 | 1.11 | |
| Current Ratio | 0.79 | 0.96 | 0.83 | 1.28 | 1.11 | |
| Return on Equity (ROE) | -0.58% | -1.22% | 4.76% | -1.03% | 5.52% | 12.43% |
| Return on Assets (ROA) | 3.28% | 2.60% | 2.31% | 1.82% | 2.54% | 3.11% |
| Return on Invested Capital (ROIC) | 10.46% | 7.44% | 4.77% | 5.04% | 5.43% | 8.19% |
| Return on Capital Employed (ROCE) | 5.30% | 4.60% | 4.10% | 3.20% | 4.50% | 5.70% |
| Earnings Yield | -2.53% | -2.41% | 9.86% | -1.21% | 11.25% | 15.35% |
| FCF Yield | 14.69% | 12.32% | 14.27% | 14.17% | 6.24% | 9.13% |
| Dividend Yield | 3.10% | 3.19% | 4.68% | 4.48% | 4.17% | 2.95% |
| Payout Ratio | 78.51% | 62.08% | 33.41% | |||
| Buyback Yield / Dilution | 1.04% | 0.59% | -0.33% | 0.72% | 1.27% | -0.63% |
| Total Shareholder Return | 4.13% | 3.78% | 4.35% | 5.20% | 5.44% | 2.33% |