Invesco Ltd. (IVZ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.66	$0.71	+7.6%	—	$1.8B	—
Q1 26	$0.58	$0.57	-1.7%	—	$1.7B	—
Q4 25	$0.58	$0.62	+6.9%	—	$1.7B	—
Q3 25	$0.44	$0.61	+38.6%	—	$1.6B	—
Q2 25	$0.4	$0.36	-10.0%	—	$1.5B	—
Q1 25	$0.39	$0.44	+12.8%	—	$1.5B	—
Q4 24	$0.47	$0.52	+10.6%	—	$1.6B	—
Q3 24	$0.43	$0.44	+2.3%	—	$1.5B	—
Q2 24	$0.4	$0.43	+7.5%	—	$1.5B	—
Q1 24	$0.4	$0.33	-17.5%	—	$1.5B	—
Q4 23	$0.4	$0.47	+17.5%	—	$1.4B	—
Q3 23	$0.35	$0.35	0.0%	—	$1.4B	—
Q2 23	$0.4	$0.31	-22.5%	—	$1.4B	—
Q1 23	$0.36	$0.38	+5.6%	—	$1.4B	—
Q4 22	$0.36	$0.39	+8.3%	—	$1.4B	—
Q3 22	$0.41	$0.34	-17.1%	—	$1.4B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.6	—	—	$6.4B	—
FY24	—	$1.18	—	—	$6.1B	—
FY23	—	-$0.73	—	—	$5.7B	—
FY22	—	$1.5	—	—	$6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$4.7B	$5.2B	$5.3B	$6.1B	$6.1B	$6.9B	$6B	$5.7B	$6.1B	$6.4B
YoY change	-7.58%	+9%	+2.98%	+15.1%	+0.46%	+12.2%	-12.3%	-5.5%	+6.13%	+5.11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	4.7B	5.2B	5.3B	6.1B	6.1B	6.9B	6B	5.7B	6.1B	6.4B
Cost of revenue	2.8B	3B	3.1B	3.6B	3.8B	4.1B	3.6B	3.7B	4B	4.1B
Gross profit	2B	2.2B	2.2B	2.5B	2.4B	2.8B	2.4B	2B	2B	2.2B
Gross margin	41.4%	42.1%	41.6%	41.1%	38.9%	41.1%	40.3%	35.1%	33.4%	35.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	409.2M	428.7M	459.2M	539.8M	564.1M	522.7M	495.1M	553.8M	676M	660.5M
Operating expenses	736.4M	793.3M	869.7M	1B	1.1B	1B	1B	1.1B	1.2B	1.1B
Operating income	1.2B	1.4B	1.3B	1.4B	1.3B	1.7B	1.3B	-393.2M	832.1M	-695.7M
Operating margin	25.8%	26.8%	25.2%	23.4%	20.4%	25%	22.1%	-6.88%	13.7%	-10.9%
Non-operating income, net	66.4M	129.7M	-113.5M	-348.4M	-73.3M	847.7M	-30.4M	178M	172.3M	344.9M
Pretax income	1.2B	1.4B	1.1B	972.9M	1.1B	2.5B	1.2B	-237.9M	1B	-379.4M
Income tax	338.3M	268.2M	255M	235.1M	261.6M	531.1M	322.2M	-69.7M	252.9M	-204.6M
Net income	868.3M	1.2B	883.1M	737.8M	807.5M	2B	925.5M	-168.2M	752.4M	-174.8M
Net margin	18.3%	22.5%	16.6%	12.1%	13.1%	28.6%	15.3%	-2.94%	12.4%	-2.74%
EBITDA	1.4B	1.7B	1.6B	1.8B	1.7B	2.7B	1.5B	1.2B	1.2B	1.5B
EPS	2.06	2.75	2.14	1.29	1.14	3.01	1.5	-0.73	1.18	-1.6
Diluted EPS	2.06	2.75	2.14	1.28	1.13	2.99	1.49	-0.73	1.18	-1.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.4B	1.4B	1.5B	1.5B	1.5B	1.6B	1.5B	1.5B	1.6B	1.7B	1.7B	1.8B
Cost of revenue	926.7M	928.2M	976.7M	947.7M	1.1B	990.4M	973.6M	1B	1.1B	1.1B	1.1B	1.2B
Gross profit	515.3M	485.2M	498.6M	535.6M	390.4M	602.6M	555.6M	504.4M	560.5M	626.7M	630.4M	651.8M
Gross margin	35.7%	34.3%	33.8%	36.1%	25.8%	37.8%	36.3%	33.3%	34.2%	37%	36.1%	35.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	165.2M	161.6M	156.6M	201M	159.7M	158.7M	154.3M	162.3M	171.4M	172.5M	184.5M	170.2M
Operating expenses	276.3M	300.7M	274.2M	317.4M	278.7M	280M	268.2M	280.5M	280.6M	281.2M	289.1M	279.5M
Operating income	227.7M	-1.1B	213.1M	206.8M	100.5M	311.7M	277.3M	214.2M	270.9M	-1.5B	333.2M	364.2M
Operating margin	15.8%	-76.1%	14.4%	13.9%	6.63%	19.6%	18.1%	14.1%	16.5%	-86.2%	19.1%	19.9%
Non-operating income, net	8.8M	137.8M	73.3M	58.4M	47.1M	-6.5M	69.4M	70.4M	91M	114.1M	-17.9M	104.9M
Pretax income	230M	-933.5M	282.9M	259.9M	145.1M	317.4M	344.9M	274.4M	346.7M	-1.3B	300.2M	455.4M
Income tax	61.3M	-266.4M	68.7M	64M	41.5M	78.7M	77.6M	77M	-9.7M	-349.5M	81.1M	116.5M
Net income	168.7M	-667.1M	214.2M	195.9M	103.6M	238.7M	267.3M	197.4M	356.4M	-995.9M	219.1M	338.9M
Net margin	11.7%	-47.2%	14.5%	13.2%	6.84%	15%	17.5%	13%	21.7%	-58.9%	12.6%	18.6%
EBITDA	289.5M	343.6M	343.9M	322.6M	202.5M	373.9M	399.5M	335.2M	410.7M	481.2M	357.7M	511.2M
EPS	0.29	-1.64	0.31	0.29	0.12	0.46	0.38	-0.03	0.67	-2.63	0.51	0.77
Diluted EPS	0.29	-1.64	0.31	0.29	0.12	0.46	0.38	-0.03	0.66	-2.63	0.51	0.76

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	12.6B	15B	6.9B	7.9B	8B	10.7B	8.2B	8.1B	8B	11.9B	13.4B
Enterprise value	17B	19.3B	12.7B	14.9B	15.4B	18.2B	15.4B	15.2B	14B	21.7B	17.9B
Shares outstanding	414.7M	409.4M	412.4M	437.8M	459.5M	462.8M	457.5M	454.8M	457M	452.6M	452.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	14.5	12.9	7.82	10.7	9.92	5.41	8.89	—	10.6	—	19.3
P/S	2.66	2.9	1.3	1.29	1.3	1.55	1.36	1.42	1.32	1.86	1.98
P/B	1.59	1.63	0.74	0.54	0.53	0.64	0.49	0.51	0.51	0.91	1.37
EV/EBITDA	11.8	11.4	8.09	8.04	9.17	6.66	9.91	13	11.3	14.1	12.4
EV/Sales	3.59	3.74	2.4	2.43	2.51	2.64	2.54	2.66	2.31	3.4	2.59
Earnings yield	6.9%	7.76%	12.8%	9.37%	10.1%	18.5%	11.2%	—	9.42%	—	5.18%
FCF yield	4.02%	6.99%	10.5%	12.6%	13.9%	9.1%	6.2%	14%	14%	12.1%	8.49%
PEG	—	—	—	—	—	—	—	—	—	—	-0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	41.4%	42.1%	41.6%	41.1%	38.9%	41.1%	40.3%	35.1%	33.4%	35.2%	35.7%
Operating margin	25.8%	26.8%	25.2%	23.4%	20.4%	25%	22.1%	-6.88%	13.7%	-10.9%	20%
Net margin	18.3%	22.5%	16.6%	12.1%	13.1%	28.6%	15.3%	-2.94%	12.4%	-2.74%	-0.93%
ROE	11%	12.6%	9.46%	5.02%	5.38%	11.8%	5.5%	-1.06%	4.8%	-1.34%	-0.57%
ROA	3.37%	3.67%	2.85%	1.87%	2.21%	6.03%	3.11%	-0.58%	2.79%	-0.65%	2.92%
ROIC	7.13%	8.27%	6.87%	5%	4.21%	5.6%	4.14%	-1.71%	2.87%	-3.05%	-2.32%
Return on tangible assets	8.13%	7.55%	7.17%	9.6%	19.9%	423.9%	-56.4%	115.7%	-66.8%	-7.65%	-2.85%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.15	0.28	0.22	0.24	0.33	1.25	1.62	2.3	3.14	12	0.71
Quick ratio	1.15	0.28	0.22	0.24	0.33	1.25	1.62	2.3	3.14	12	6.82
Debt / equity	0.82	0.75	0.82	0.59	0.61	0.58	0.51	0.57	0.48	0.75	0.12
Debt / assets	0.25	0.22	0.25	0.22	0.25	0.3	0.29	0.31	0.28	0.36	0.34
Net debt / EBITDA	3.07	2.58	3.71	3.78	4.4	2.77	4.6	6.06	4.87	—	4.35
Interest coverage	13.9	16.1	11.2	8.17	9.27	27.4	15.6	-2.37	18.3	-3.6	-1.52
Effective tax rate	28%	18.8%	22.4%	24.2%	24.5%	21.2%	25.8%	0%	25.2%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.4	12.6	12.9	14	13.4	14.9	13.2	12.6	13.3	14.1	15.3
EPS (basic)	2.06	2.75	2.14	1.29	1.14	3.01	1.5	-0.73	1.18	-1.6	-1.6
EPS (diluted)	2.06	2.75	2.14	1.28	1.13	2.99	1.49	-0.73	1.18	-1.6	-0.68
Book value per share	19	22.5	22.6	33.6	32.7	36	36.8	35	34.3	28.7	22.6
FCF per share	1.22	2.56	1.76	2.27	2.43	2.09	1.12	2.5	2.45	3.18	4.23
Cash per share	4.99	6.15	4.38	3.89	3.72	4.64	3.13	4.25	3.27	—	2.07
Capex per share	0.36	0.27	0.25	0.28	0.25	0.24	0.42	0.36	0.15	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.12%	2.16%	1.93%	2.03%	1.87%	1.58%	3.19%	2.87%	1.14%	—	—
Capex / operating cash flow	-3.94%	-5.76%	10%	6.71%	2.16%	1.46%	10.2%	32.9%	5.46%	—	—
Payout ratio	53%	40.6%	55.6%	88.5%	73.6%	27.6%	61.8%	-353.6%	80.8%	-332.9%	56.5%
Dividend yield	3.66%	3.15%	7.11%	8.29%	7.42%	5.11%	6.94%	7.33%	7.61%	4.89%	2.83%

Yield

2.83%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.215

ex-dividend Aug 14, 2026

Payout ratio

56%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.215
May 15, 2026	$0.215
Feb 13, 2026	$0.21

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.4B	$1.4B	$1.5B	$1.5B	$1.5B	$1.6B	$1.5B	$1.5B	$1.6B	$1.7B	$1.7B	$1.8B
YoY change	-0.26%	-2.08%	+4.03%	+2.81%	+5.09%	+12.7%	+3.65%	+2.17%	+8.25%	+6.21%	+14.1%	+20.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.1B	2.5B	1.8B	1.7B	1.7B	2.1B	1.4B	1.9B	1.5B	—
Receivables	650.4M	754M	714.8M	1B	916.6M	1.3B	1B	951.6M	1.1B	1.2B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	11.7B	4.2B	2.8B	3B	2.9B	3.5B	2.4B	2.9B	2.6B	10.8B
Property, plant & equipment	464.7M	490.7M	468.7M	583.5M	563.8M	518.1M	561.1M	599.5M	479M	378.9M
Goodwill & intangibles	15.1B	16.3B	18.7B	31.7B	32.4B	32.2B	31.4B	29.1B	28.1B	24.8B
Total assets	25.7B	31.7B	31B	39.4B	36.5B	32.7B	29.8B	28.9B	27B	27.1B
Accounts payable	274.3M	320.1M	284.3M	414.6M	348.9M	39.2M	59.6M	31.5M	30.6M	20.4M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	10.2B	14.7B	13.2B	12.4B	8.8B	2.8B	1.5B	1.3B	830.4M	897M
Long-term debt	6.5B	6.9B	7.6B	8.7B	9.1B	9.7B	8.6B	9B	7.5B	9.8B
Total liabilities	17.8B	22.5B	21.6B	24.7B	21.5B	16B	12.9B	13B	11.3B	14.1B
Shareholders' equity	7.9B	9.2B	9.3B	14.7B	15B	16.7B	16.8B	15.9B	15.7B	13B
Total debt	6.5B	6.9B	7.6B	8.7B	9.1B	9.7B	8.6B	9B	7.5B	9.8B
Net debt	4.4B	4.4B	5.8B	7B	7.4B	7.6B	7.1B	7.1B	6.1B	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.6B	1.9B	1.4B	1.5B	1.6B	1.5B	1.9B	1.5B	1.5B	2B	1.7B	1.6B
Receivables	903.3M	951.6M	925.6M	1B	1B	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.3B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	2.5B	2.9B	2.4B	2.6B	2.7B	2.6B	3B	9.5B	10B	10.8B	10.7B	11B
Property, plant & equipment	—	599.5M	—	—	—	479M	—	—	—	378.9M	—	—
Goodwill & intangibles	31.3B	29.1B	28.9B	28.8B	29.1B	28.1B	28.2B	28.7B	28.4B	24.8B	24.7B	24.6B
Total assets	29.4B	28.9B	28.1B	27.2B	27.5B	27B	28.1B	28.5B	28.4B	27.1B	26.8B	27.5B
Accounts payable	1.3B	31.5M	1.3B	1.4B	1.5B	30.6M	1.4B	1.4B	1.5B	20.4M	1.5B	1.6B
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	1.7B	1.3B	1.3B	1.4B	1.5B	830.4M	1.4B	1.4B	1.5B	897M	1.5B	1.6B
Long-term debt	8.5B	9B	8.6B	7.6B	7.5B	7.5B	964.8M	1.9B	1.6B	9.8B	9.4B	9.3B
Total liabilities	12.8B	13B	12.2B	11.4B	11.6B	11.3B	12.4B	13.5B	13.6B	14.1B	13.6B	14B
Shareholders' equity	16.6B	15.9B	15.9B	15.8B	15.9B	15.7B	15.8B	15B	14.8B	13B	13.3B	13.5B
Total debt	8.5B	9B	8.6B	7.6B	7.5B	7.5B	964.8M	1.9B	1.6B	9.8B	9.4B	9.3B
Net debt	6.9B	7.1B	7.2B	6B	5.8B	6.1B	-908.6M	392M	100.8M	7.8B	7.7B	7.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	868.3M	1.2B	883.1M	737.8M	807.5M	2B	925.5M	-168.2M	752.4M	-174.8M
Depreciation & amortization	101.2M	116.8M	142.1M	177.6M	203.5M	205.3M	195.3M	182.8M	179.6M	155.9M
Stock-based compensation	159.7M	175.3M	172.4M	207.5M	188.5M	140.1M	106.2M	114.6M	104.6M	80M
Change in working capital	-4.4B	-3.2B	172M	841.5M	4B	5.6B	912.8M	448.7M	319.7M	-5.6M
Operating cash flow	-3.7B	-1.9B	1B	1.9B	5.3B	7.4B	1.9B	499.2M	1.3B	1.5B
Capital expenditure	-147.7M	-111.7M	-102.5M	-124.3M	-115M	-108.8M	-192.9M	-164.3M	-69.1M	—
Investing cash flow	-1B	-1.1B	-2.9B	-1.5B	-886.2M	-892.8M	-408.2M	-267.6M	-58.4M	-953.2M
Dividends paid	-460.4M	-471.6M	-490.6M	-652.7M	-594.2M	-544.5M	-571.6M	-594.7M	-608.3M	-581.9M
Share repurchases	-535M	-63.8M	-51.8M	-469.8M	-47.1M	-60.9M	-244.7M	-187.5M	-79.3M	-1.9B
Financing cash flow	470.1M	169M	1.5B	201.3M	-285.9M	426.7M	-966.9M	-585.4M	-1.7B	-149.5M
Net change in cash	-4.3B	-2.9B	-380.8M	542.7M	4.2B	7B	517.4M	-353.8M	-453.5M	422.6M
Free cash flow	506.3M	1B	726.3M	992.3M	1.1B	969.3M	510.3M	1.1B	1.1B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	168.7M	-667.1M	214.2M	195.9M	103.6M	238.7M	267.3M	197.4M	356.4M	-995.9M	219.1M	338.9M
Depreciation & amortization	42.2M	46.4M	45.1M	46.4M	44M	44.1M	41.5M	40.1M	38.3M	36M	33.2M	32.2M
Stock-based compensation	23.9M	20.9M	21.1M	18.4M	51M	14.1M	15.2M	23.7M	20.9M	20.2M	34M	31.3M
Change in working capital	106.5M	-54.8M	365.1M	32.6M	-32.4M	-45.6M	-205.9M	179.8M	-97.1M	117.6M	-172.1M	115M
Operating cash flow	164.6M	-349.8M	623.6M	322.2M	28.9M	291.8M	285.3M	364.6M	606.2M	455.8M	212.6M	734.2M
Capital expenditure	-39.2M	-40.3M	-21M	-26.7M	-28.4M	7M	-23.4M	-17.5M	—	—	—	—
Investing cash flow	60.3M	-312.6M	-294.2M	230.4M	27M	-21.6M	-134.6M	-307.2M	-220.3M	-568.5M	-727.3M	-740.9M
Dividends paid	-149.3M	-149.4M	-149.4M	-152.4M	-154.5M	-152M	-151.7M	-151.8M	-139.4M	-139M	-133.5M	-133.8M
Share repurchases	-3.9M	-4.4M	-20.4M	-2.7M	-30.2M	-26M	-43.1M	-1.2B	-29.2M	-615.8M	-69.2M	-50.4M
Financing cash flow	-125.5M	-110.3M	-811.1M	-2.5B	1B	-392.5M	529.3M	-2.4B	1.4B	356.1M	271.3M	-2.6B
Net change in cash	99.4M	-772.7M	-481.7M	-2B	1.1B	-122.3M	680M	-2.4B	1.8B	243.4M	-243.4M	-2.6B
Free cash flow	314.9M	674M	-75.4M	462.4M	410M	323.9M	-108M	530.4M	586.4M	432.2M	198.4M	703.7M

Date	Ratio
Nov 8, 2000	25:10
Apr 27, 1998	2:1

Invesco Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history