Financials · Asset Management & Custody Banks · US stock · price as of 22 Oct 2026
Key indicators
Price
$28.79
52-week range
$20.67 – $33.66
Market cap
$13.1B
P/E (trailing)
–
Dividend yield
3.0%
Revenue (last 12 months)
$6.9B
Revenue growth (3y a year)
1.8%
Price / book
1.0×
Return on equity
−0.7%
Fair value
Fair value (average of valid models)$33.92 middle half of models $26 – $40
Versus priceUndervalued+18% to fair value
P/B multiple
$22.47
P/S multiple
$28.59
Dividend discount, stable
$50.71
Model uncertainty
Medium
X-Ray Score
37/ 100 · Medium confidence · ahead of 14% of sector peers
Valuation52
Growth51
Profitability28
Financial health7
Dividends53
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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%.
StocksXray gives Invesco Ltd. an X-Ray Score of 37 out of 100 (medium confidence), ahead of 14% of the S&P 500 stocks in its sector. Its strongest lens is dividends (53) and its weakest is financial health (7).
Our fair value (the average of the valid models) is $33.92 (range $25.53 to $39.65). At $28.79 the stock trades 15% below that value, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Invesco Ltd. (IVZ)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$18.76
$15.25
$15.89
$16.37
$25.69
$28.79
Market cap
$8.7B
$7.0B
$7.2B
$7.5B
$11.7B
$13.1B
P/E
6.3×
10.2×
–
13.9×
–
–
Price / book
0.6×
0.5×
0.5×
0.5×
1.0×
1.0×
Dividend yield
3.57%
4.79%
4.96%
4.98%
3.25%
2.95%
Fundamentals checklist ● 2 Good · ● 0 Average · ● 4 Bad · each check graded against the sector
Risk models
Piotroski F-Score4 of 9Bad
Growth
Revenue growth (3y)1.8%Bad
Growth consistency100%Good
Valuation
Fair value vs price1.2×Good
Profitability
Return on invested capital−2.9%Bad
Operating margin−7.1%Bad
XStocksXray
Invesco Ltd. (IVZ)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
6,895
6,049
5,716
6,067
6,377
6,903
Net income
1,393
684
-334
538
-175
-82
Diluted EPS ($)
2.99
1.49
-0.73
1.18
-1.60
-0.18
Net margin
20.2%
11.3%
−5.8%
8.9%
−2.7%
−1.2%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
32,686
29,757
28,934
27,009
27,094
27,473
Cash
1,896
1,235
1,469
987
1,038
915
Total debt
2,085
1,488
1,490
891
1,825
1,624
Equity
15,496
15,214
14,598
14,560
12,231
12,472
Dividend per share ($)
0.67
0.73
0.79
0.82
0.84
0.85
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
