Overview
Invesco Ltd.
Latest 10-K: FY2025, filed Feb 24, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $6.38B
- 5.1%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Operating income
- -$0.70B
- 183.6%YoYdown from FY2024
- OperatingIncome
- Net income
- -$0.73B
- 235.0%YoYdown from FY2024
- NetIncome
- Diluted EPS
- -$1.60
- 235.6%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 455.0M
- 0.6%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Invesco Ltd. reported revenue of $6.38B for fiscal 2025, up 5.1% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.
Profitability
- Operating margin was -10.9% and net margin was -11.4%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was -$1.60, down 235.6% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $6.38B5.1%up Benchmark median 6.4% | $6.07B6.1%up Benchmark median 4.5% | $5.72B5.5%down Benchmark median 4.8% | $6.05B12.3%down Benchmark median 10.3% | $6.89B12.2%up Benchmark median 13.8% | -1.9% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | negative: -$0.70B183.6%down Benchmark median 7.3% | $0.83Bn/m Benchmark median 7.4% | negative: -$0.43B133.0%down Benchmark median 4.9% | $1.32B26.3%down Benchmark median 7.5% | $1.79B94.3%up Benchmark median 23.5% | n/m Benchmark median 7.2% |
| Net Income | negative: -$0.73B§235.0%down Benchmark median 4.8% | $0.54Bn/m Benchmark median 5.7% | negative: -$0.33B148.8%down Benchmark median 1.9% | $0.68B50.9%down Benchmark median 1.3% | $1.39B165.4%up Benchmark median 33.9% | n/m Benchmark median 4.1% |
| EPS (Diluted) | negative: -$1.60235.6%down Benchmark median 6.2% | $1.18n/m Benchmark median 7.9% | negative: -$0.73149.0%down Benchmark median 1.9% | $1.4950.2%down Benchmark median 1.5% | $2.99164.6%up Benchmark median 34.8% | n/m Benchmark median 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $27.09B0.3%up Benchmark median 5.6% | $27.01B6.7%down Benchmark median 3.4% | $28.93B2.8%down Benchmark median 4.1% | $29.76B9.0%down Benchmark median 2.2% | $32.69B10.5%down Benchmark median 6.7% | -4.6% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $14.09B24.2%up Benchmark median 6.4% | $11.34B12.9%down Benchmark median 1.9% | $13.02B0.8%up Benchmark median 2.9% | $12.91B19.3%down Benchmark median 2.0% | $16.01B25.5%down Benchmark median 5.2% | -3.1% Benchmark median 4.4% |
| Stockholders' Equity | $12.93B14.5%down Benchmark median 6.8% | $15.12B0.3%down Benchmark median 5.4% | $15.17B4.2%down Benchmark median 7.3% | $15.84B2.0%down Benchmark median 2.5% | $16.17B9.2%up Benchmark median 9.0% | -5.4% Benchmark median 6.1% |
| Cash & Equivalents | $1.04B5.2%up Benchmark median 5.2% | $0.99B32.9%down Benchmark median 1.9% | $1.47B19.0%up Benchmark median 6.7% | $1.23B34.9%down Benchmark median -8.6% | $1.90B34.6%up Benchmark median -2.9% | -14.0% Benchmark median 2.0% |
| Total Debt | $1.83B†104.9%up Benchmark median 2.1% | $0.89B†40.2%down Benchmark median 0.2% | $1.49B†0.1%up Benchmark median 0.3% | $1.49B†28.7%down Benchmark median 0.1% | $2.09B†0.1%up Benchmark median -0.1% | -3.3% Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.53B28.2%up Benchmark median 6.3% | $1.19B8.5%down Benchmark median 4.8% | $1.30B85.0%up Benchmark median 9.9% | $0.70B34.8%down Benchmark median -0.7% | $1.08B12.4%down Benchmark median 10.7% | 9.1% Benchmark median 7.0% |
| Capital Expenditures | $84.30M22.0%up Benchmark median 5.4% | $69.10M57.9%down Benchmark median 2.8% | $164.30M14.8%down Benchmark median 11.3% | $192.90M77.3%up Benchmark median 14.0% | $108.80M5.4%down Benchmark median 8.1% | -6.2% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.44B28.6%up Benchmark median 7.3% | $1.12B1.4%down Benchmark median 6.1% | $1.14B122.7%up Benchmark median 8.8% | $0.51B47.4%down Benchmark median -11.3% | $0.97B13.1%down Benchmark median 10.2% | 10.4% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
n/m
Wall Street
on net earnings
FY2024 6.8%
12.1%
Value investor
on free cash flow
FY2024 14.0%
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E n/mValue investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
108.2%
Wall Street
on book equity
FY2024 189.0%
4.4%
Value investor
on tangible book
FY2024 13.2%
Gap −103.8 pts: Value-investor figure 103.8 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 0.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
negative: −5.2%
Wall Street
ROE: net income ÷ equity
FY2024 3.6%
negative: −2.1%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 2.4%
Gap +3.1 pts: Value-investor figure 3.1 points higher
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
negative: −8.5%
Wall Street
EBITDA margin
FY2024 16.7%
22.6%
Value investor
Free-cash-flow margin
FY2024 18.5%
Gap +31.1 pts: Value-investor figure 31.1 points higher
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Debt cover
How many times one year of earnings repays all debt
negative: −0.30×
Wall Street
EBITDA ÷ total debt
FY2024 1.14×
0.79×
Value investor
FCF ÷ total debt
FY2024 1.26×
Gap +1.09×: Value-investor figure 1.09 higher
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
negative: −6.5×
Wall Street
EBITDA ÷ interest
FY2024 17.4×
negative: −8.4×
Value investor
EBIT ÷ interest
FY2024 14.3×
Gap −1.9×: Value-investor figure 1.9 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on IVZ yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on IVZ and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/IVZ
Valuein. (2026, October 31). Invesco Ltd. (IVZ) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/IVZ
@misc{valuein_ivz_2026,
author = {{Valuein}},
title = {Invesco Ltd. (IVZ) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/IVZ}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 24, 2026 · accession 0000914208-26-000079
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