Invesco Ltd.IVZ
NYSE•Financial Services•Asset Management
Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds. It manages separate client-focused equity and fixed income portfolios. The firm also launches equity, commodity, fixed income, multi-asset, and balanced mutual funds for its clients. It launches equity, fixed income, multi-asset, and balanced exchange-traded funds. The firm also launches and manages private funds. It invests in the public equity and fixed income markets across the globe. The firm prefers to invest between $5 million and $15 million in companies. The firm also invests in alternative markets, such as commodities and currencies. For the equity portion of its portfolio, it invests in growth and value stocks of large-cap, mid-cap, and small-cap companies. For the fixed income portion of its portfolio, the firm invests in convertibles, government bonds, municipal bonds, treasury securities, and cash. It also invests in short term and intermediate term bonds, investment grade and high yield bonds, taxable and tax-free bonds, senior secured loans, and structured securities such as asset-backed securities, mortgage-backed securities, and commercial mortgage-backed securities. The firm employs absolute return, global macro, and long/short strategies. It employs quantitative analysis to make its investments. The firm was formerly known as Invesco Plc, AMVESCAP plc, Amvesco plc, Invesco PLC, Invesco MIM, and H. Lotery & Co. Ltd. Invesco Ltd. was founded in 1935 and is based in Atlanta, Georgia with an additional office in Asia, Europe, Africa and North America.
Invesco Ltd (IVZ) reported trailing twelve months revenue of $6.59B as of March 2026, a 7.7% increase year-over-year. Quarterly revenue reached $1.74B, reflecting continued top-line momentum.
Invesco Ltd reported a TTM net loss of $126.80M, with quarterly EBITDA of $366.40M. The operating margin expanded from 18.1% to 19.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (19.1%) and net margin (12.6%) indicates moderate non-operating costs. Net margin has improved from 11.2% a year ago, signaling stronger bottom-line efficiency.
IVZ trades at a P/S of 1.6x. The price-to-book ratio of 0.9x suggests the stock trades below its book value.
The company generated $198.40M in free cash flow over the trailing twelve months, a 283.7% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $26.83B in total assets with $1.97B in long-term debt against $12.26B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 2.7%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~13.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 162.5% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF covers net income by 2.1x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 144.5% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation