Invesco (IVZ)
NYSE:IVZ
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Invesco
(NYSE:IVZ)
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Rating:65Neutral
Price Target:
$28.00
▲(12.86% Upside)
Action:DowngradedDate:04/30/26
The score is driven by strong cash generation and a positive earnings-call picture (sustained inflows, ETF momentum, and improving adjusted margins/EPS). Offsetting these strengths are weak reported profitability (TTM losses/negative margins) and a balance sheet trending more levered, while technicals are supportive but not extreme and valuation relies mainly on the dividend due to an unusable P/E value.
Positive Factors
Strong cash generation
Consistently strong operating and free cash flow (TTM OCF ~$1.82B; FCF ~$1.88B, +20.6% YoY) provides durable internal funding for buybacks, dividends, platform investment and debt reduction. High FCF relative to reported losses supports capital returns and operational flexibility over months.
Negative Factors
Negative reported profitability
Negative TTM net and EBIT margins indicate GAAP profitability weakness despite adjusted gains. Prolonged reported losses impair return on equity, constrain retained earnings, and reduce cushion for shocks. Until operating profitability sustainably turns positive, leverage reduction and capital returns may be limited.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistently strong operating and free cash flow (TTM OCF ~$1.82B; FCF ~$1.88B, +20.6% YoY) provides durable internal funding for buybacks, dividends, platform investment and debt reduction. High FCF relative to reported losses supports capital returns and operational flexibility over months.
Read all positive factors
Invesco (IVZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.23B
Dividend Yield3.08%
Average Volume (3M)5.35M
Price to Earnings (P/E)10.2
Beta (1Y)1.27
Revenue Growth11.02%
EPS Growth-218.32%
CountryUS
Employees8,495
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-1.48
Shares Outstanding443,296,630
10 Day Avg. Volume7,141,377
30 Day Avg. Volume5,348,875
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)0.97
Price to Sales (P/S)1.86
P/FCF Ratio8.23
Enterprise Value/Market Cap1.80
Enterprise Value/Revenue3.33
Enterprise Value/Gross Profit6.57
Enterprise Value/Ebitda16.87
Forecast
1Y Price Target
$28.39Price Target Upside14.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)2.57
Revenue Forecast (FY)$5.15B
Invesco Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
Invesco primarily makes money by charging fees for managing client assets and providing investment-related services. Its main revenue streams include: (1) Investment management fees: Recurring fees calculated as a percentage of assets under manage...
Invesco Key Performance Indicators (KPIs)
Any
AUM by Investment Approach
Breaks down assets under management by investment strategy, indicating where Invesco is focusing its expertise and attracting investor interest.
Breaks down assets under management by investment strategy, indicating where Invesco is focusing its expertise and attracting investor interest.
Data provided by:
The Fly
The FlyInvesco Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call emphasized strong, diversified net inflows, notable growth in ETFs, China JV, fixed income, and private markets, and clear financial improvement with higher margins and EPS. Management outlined disciplined expense guidance, balance-sheet strengthening, and continued capital returns. Near-term challenges include market-driven AUM volatility, specific product outflows (fundamental equities, bank-loan ETF), short-term implementation costs for the hybrid platform, and a temporary uptick in leverage. Overall, the positive operational momentum, robust inflows across key capabilities, and margin expansion signals outweigh the cited headwinds.Positive Updates
Sustained Net Inflows and Organic Growth
Net long-term inflows of $21.8B (reported ~$22B) in Q1, marking the 11th straight quarter of net inflows and representing ~4% annualized organic growth. Additionally, $11.6B of global liquidity inflows and ending AUM recovering to ~$2.2T at quarter-end and into the ~$2.3T range post-quarter as markets rebounded.
Negative Updates
Market Volatility Impacted AUM
Market volatility drove a $42B decline in AUM during Q1 (partially offset by inflows). AUM volatility required active management and led to reliance on inflows to maintain AUM levels.
Read all updates
Q1-2026 Updates
Positive
Negative
Sustained Net Inflows and Organic Growth
Net long-term inflows of $21.8B (reported ~$22B) in Q1, marking the 11th straight quarter of net inflows and representing ~4% annualized organic growth. Additionally, $11.6B of global liquidity inflows and ending AUM recovering to ~$2.2T at quarter-end and into the ~$2.3T range post-quarter as markets rebounded.
Read all positive updates
Company Guidance
In its 1Q26 call Invesco provided a detailed operating and capital guide: assets under management ended the quarter at $2.2 trillion (average long‑term AUM nearly $2.0 trillion, up ~$400 billion or 26% q/q) and have recovered into the ~$2.3 trillion range post‑quarter (up >5% vs. quarter‑end); net long‑term inflows were $21.8 billion (eleventh consecutive quarter of inflows, ~4% annualized organic growth) with $11.6 billion of global liquidity inflows; ETFs reached a record $638 billion of AUM (> $1 trillion including QQQ) with nearly $19 billion of ETF net inflows (11% annualized), active ETF AUM > $20 billion (>$35 billion including index strategies); regional and capability highlights included China JV AUM $142 billion with $8.7 billion of net inflows (31% annualized), fundamental fixed income net inflows $3.7 billion (5% annualized) or $14 billion across related capabilities, SMA AUM $37 billion (19% annualized), private markets net inflows $400 million (INCREIF at $5 billion), and institutional quantitative flows $4.7 billion; financials/guidance: Q1 net revenue $1.3 billion, adjusted diluted EPS $0.57 (up 30% YoY), adjusted operating margin 34.5% (300 bps YoY improvement; 500 bps of operating leverage), net revenue yield 22.9 bps (exit 22.8 bps), operating expenses for 2026 expected ~ $3.275 billion assuming ~ $2.3 trillion AUM, an operating expense base ~25% variable to net revenue, compensation targeted mid‑point of a 38–42% range of revenue, third‑party/distribution fees to management fees ~22–23% (22.7% this quarter), Q1 effective tax ~24% (Q2 non‑GAAP estimate 25–26%), hybrid platform implementation costs $10–15 million per quarter in 2026 with incremental platform run‑rate costs building to ~$10 million/qtr this year and at least $60 million in 2027 (ex implementation), Q1 share buybacks $40 million (1.6 million shares) with an additional $1 billion repurchase authorization and a 2026 total payout ratio target near 60%, and $1.1 billion drawn on the revolver with leverage expected to improve as the year progresses.Invesco Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.59B | 6.38B | 6.07B | 5.72B | 6.05B | 6.89B |
| Gross Profit | 3.34B | 2.75B | 2.03B | 2.01B | 2.44B | 2.83B |
| EBITDA | 1.30B | 1.38B | 1.24B | 1.13B | 1.53B | 2.80B |
| Net Income | -243.40M | -281.70M | 774.80M | -96.90M | 920.70M | 1.63B |
Balance Sheet | ||||||
| Total Assets | 26.83B | 27.09B | 27.01B | 28.93B | 29.76B | 32.69B |
| Cash, Cash Equivalents and Short-Term Investments | 806.90M | 1.98B | 1.50B | 1.93B | 1.43B | 2.15B |
| Total Debt | 10.54B | 10.12B | 7.55B | 9.04B | 8.56B | 9.71B |
| Total Liabilities | 13.57B | 14.09B | 11.34B | 13.02B | 12.91B | 16.01B |
| Stockholders Equity | 12.26B | 12.23B | 14.56B | 14.60B | 15.21B | 15.50B |
Cash Flow | ||||||
| Free Cash Flow | 1.59B | 1.44B | 1.12B | 1.14B | 510.30M | 969.30M |
| Operating Cash Flow | 1.82B | 1.53B | 1.19B | 1.30B | 703.20M | 1.08B |
| Investing Cash Flow | -1.62B | -974.40M | 68.40M | -244.30M | -375.60M | -847.90M |
| Financing Cash Flow | -407.50M | -149.50M | -1.66B | -585.40M | -966.90M | 117.30M |
Invesco Technical Analysis
Positive
24.81
Price Trends
24.73
Positive
25.69
Negative
23.53
Positive
Market Momentum
-0.03
Negative
54.72
Neutral
80.90
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IVZ, the sentiment is Positive. The current price of 24.81 is above the 20-day moving average (MA) of 23.91, above the 50-day MA of 24.73, and above the 200-day MA of 23.53, indicating a bullish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 54.72 is Neutral, neither overbought nor oversold. The STOCH value of 80.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IVZ.
Invesco Risk Analysis
Invesco disclosed 43 risk factors in its most recent earnings report. Invesco reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Invesco Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $10.97B | 13.68 | 30.64% | 1.18% | 9.37% | 28.61% | |
75 Outperform | $7.96B | 21.14 | 15.40% | 3.34% | 27.93% | 102.14% | |
74 Outperform | $8.00B | 16.79 | 23.38% | 0.01% | 4.59% | 88.44% | |
73 Outperform | $3.66B | 10.16 | 21.99% | 8.93% | ― | -12.21% | |
72 Outperform | $16.13B | 8.82 | 6.69% | 5.33% | 3.11% | 89.49% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $12.23B | 10.20 | -1.86% | 3.08% | 11.02% | -218.32% |
* Financial Sector Average
IVZ
Invesco
27.99
13.01
86.90%
AMG
Affiliated Managers
301.28
117.49
63.93%
AB
AllianceBernstein
38.42
0.89
2.38%
BEN
Franklin Resources
31.55
11.04
53.79%
SEIC
SEI Investments Company
91.59
8.92
10.79%
JHG
Janus Henderson Group
51.67
14.07
37.42%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.