Invesco Ltd. (IVZ)
Financials · Asset Management & Custody Banks · US stock · S&P 500 component
$28.79
▼ -0.46 (1.57%)
Fair valueUndervalued
$34 +17.8% to fair value
$17fair band $29–$41$51
Day's range
$28.51 – $29.38
52-week range
$20.67 – $33.66
About Invesco Ltd.
As an independent global investment manager, Invesco offers exchange-traded funds, mutual funds, institutional mandates and retirement products. Its investment capabilities include equities, fixed income, multi-asset, real estate and other alternative strategies. Clients include individual investors who invest through advisers and platforms, along with pension plans, insurers, governments and other institutions. The firm operates through investment teams and distribution offices across many regions.
Management fees charged as a share of the assets Invesco runs are the main source of revenue, together with performance and other fees. Revenue was $6.9 billion over the last twelve months, up 1.8% a year across the last three years. The operating margin is -7.1%, and the business earns -3% on the capital invested in it. The dividend yield is 3.0%. On the site's X-Ray Score it receives 37 out of 100.
Price chart
52-wk range $20.67 – $33.66Volume 6,079,036Daily, split-adjusted
Vitals
Market cap$13.1B
52-week range$20.67 – $33.66
Volume (last day)6,079,036
P/E (TTM)–
EBIT / EV yield-3.4%
Free-cash-flow yield14.7%
Dividend yield3.0%
Revenue (TTM)$6.9B
Net income (TTM)−$82M
Operating margin-7.1%
Return on capital-2.9%
Debt incl. leases$1.6B
Cash & securities$915M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$34middle half of models $26 – $40
Undervalued
+17.8% to fair value
Average of the 3 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $29
Undervalued < $29Fair $29 – $41Overvalued > $41
P/B multiple
$22
P/S multiple
$29
Dividend discount, stable
$51
Dividend discount, multi-stage · not used
$109
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
52/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield-3.4%
Free-cash-flow yield14.7%
Fair value vs price1.2×
Growth
Fair
51/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)1.8%
Growth consistency100%
Profitability
Weak
28/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital-2.9%
Operating margin-7.1%
Financial health
Weak
7/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score4 / 9
Interest cover-5.1×
Dividends
Fair
54/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.0%
Dividends vs free cash flow20%
Dividend growth4.1%
Quarterly results: last 6 quarters
+3.7%
Mar '25
+2.2%
Jun '25
+8.2%
Sep '25
+6.2%
Dec '25
+14.1%
Mar '26
+20.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.8B, diluted EPS $0.76.
Compare with peers
AMP Ameriprise Financial I...67 APO Apollo Global Manageme...60 BX Blackstone Inc.53 STT State Street Corp50Other Asset Management & Custody Banks companies by X-Ray Score.
SWOT analysis: Invesco Ltd.
Strengthsinside the company
- Free cash flow equals 14.7% of the market value, which funds dividends, buybacks or debt paydown.
Weaknessesinside the company
- Return on invested capital is only -2.9% (median 21.8% for industry peers), so the business earns little above its cost of capital.
- Operating margin of -7.1% is thin against 29.9% for industry peers.
Opportunitiesvaluation and setting
- Dividends use only 20% of free cash flow, which leaves room to raise them.
- The price is 18% below our fair value estimate, with the gap larger than the margin we allow for error.
- Our Market Compass rates the backdrop for Financials as favourable.
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare IVZ with peers and sector
Medians of 9 Asset Management & Custody Banks peers and of 70 Financials stocks in our universe.
Largest peers (X-Ray Score): BLK 34, BNY 44, BX 53, APO 60, STT 50, AMP 67.
| Metric | IVZ | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 37 | 45 | 50 |
| Valuation | 52 | 41 | 52 |
| Growth | 51 | 49 | 54 |
| Profitability | 28 | 47 | 49 |
| Financial health | 7 | 50 | 51 |
| Dividends | 53 | 42 | 54 |
Sector leaders: highest X-Ray Score in Financials
IVZ ranks #61 of 71 in Financials and #8 of 10 in Asset Management & Custody Banks by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for IVZ
Each factor is rated by where IVZ stands among the 71 Financials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 2 Good · 0 Average · 4 Bad of 6
Growth: 0 · 0 · 2
Profitability: 0 · 0 · 2
Valuation: 2 · 0 · 0
| Factor | IVZ | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +1.8% | Bad beats 12% | +8.3% | – | – |
| Revenue growth, last year | +5.1% | Bad beats 28% | +6.9% | +5.1% | ≈ In line |
| Profitability | |||||
| Net margin | -1.2% | Bad beats 4% | 21.8% | 8.9% | ▼ Worse |
| Return on equity | -0.7% | Bad beats 4% | 15.7% | 3.7% | ▼ Worse |
| Valuation | |||||
| Price / book | 1.0x | Good beats 91% | 2.2x | 0.6x | ▼ Worse |
| Price / sales | 1.9x | Good beats 73% | 3.1x | 1.4x | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings), and banks and insurers are rated only on the factors that apply to them. A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 0 Average · ● 6 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldGood
Risk models
Piotroski F-ScoreBad
Growth
Free-cash-flow growth (3y)Good
Revenue growth (3y)Bad
Growth consistencyGood
Balance sheet
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 36/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $6.9B | $6.0B | $5.7B | $6.1B | $6.4B |
| Operating income | $1.8B | $1.3B | −$435M | $832M | −$696M |
| Net income | $1.4B | $684M | −$334M | $538M | −$175M |
| Operating cash flow | $1.1B | $703M | $1.3B | $1.2B | $1.5B |
| Operating margin | 25.9% | 21.8% | -7.6% | 13.7% | -10.9% |
| Free cash flow | $969M | $510M | $1.1B | $1.1B | $1.4B |
| Diluted EPS | $2.99 | $1.49 | $-0.73 | $1.18 | $-1.60 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
3 bullish · 4 neutral · 9 bearish
Weekly
Neutral
6 bullish · 1 neutral · 5 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 28.77 | Bullish |
| EMA 10 | 28.98 | Bearish |
| SMA 20 | 29.61 | Bearish |
| EMA 20 | 29.48 | Bearish |
| SMA 50 | 30.99 | Bearish |
| EMA 50 | 30.08 | Bearish |
| SMA 100 | 29.82 | Bearish |
| EMA 100 | 29.53 | Bearish |
| SMA 200 | 27.73 | Bullish |
| EMA 200 | 27.77 | Bullish |
Oscillators (daily)
| RSI (14) | 41.17 | Neutral |
| MACD (12, 26) | -0.64 | Bearish |
| Momentum (12) | -5.23 | Bearish |
| Stochastic %K (14) | 43.75 | Neutral |
| Williams %R (14) | -56.25 | Neutral |
| CCI (20) | -55.35 | Neutral |
Pivot points (classic, last session)
S3 27.54 | S2 28.02 | S1 28.41 | Pivot 28.89 | R1 29.28 | R2 29.76 | R3 30.15 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.85 USD
Yield on today's price
2.95%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.2150 | |
| 0.2150 | |
| 0.2100 | |
| 0.2100 | |
| 0.2100 | |
| 0.2100 | |
| 0.2050 | |
| 0.2050 | |
| 0.2050 | |
| 0.2050 | |
| 0.2000 | |
| 0.2000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold IVZ
| ETF | Share of the fund |
|---|---|
| DVY iShares Select Dividend | 1.16% |
| SPHB Invesco S&P 500 High Beta | 0.92% |
| RPV Invesco S&P 500 Pure Value | 0.86% |
| DFSV DFA Investment Dimensions Group Inc. | 0.76% |
| DFAT DFA Investment Dimensions Group Inc. | 0.52% |
| TMSL T. Rowe Price Small-Mid Cap | 0.32% |
| ESML iShares ESG Aware MSCI USA Small-Cap | 0.27% |
| VBR Vanguard Small-Cap Value | 0.24% |
The eight funds with the largest weight in IVZ among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
IVZ stock splits
IVZ has split its stock 2 times since 1998. The latest was a 5-for-2 split on 8 Nov 2000.
Full IVZ stock split history →IVZ SEC filings
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.