Invesco Ltd Stock Research

Market Summary

USD15.12-0.34

Market Closed

-2.20%

IVZ Alerts

1 major insider sales recently.
Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

IVZ Stock Price

IVZ RSI Chart

IVZ Valuation

Market Cap

6.9B

Price/Earnings (Trailing)

10.05

Price/Sales (Trailing)

1.14

EV/EBITDA

4.53

Price/Free Cashflow

13.48

IVZ Price/Sales (Trailing)

IVZ Profitability

EBT Margin

20.63%

Return on Equity

4.5%

Return on Assets

2.3%

Free Cashflow Yield

7.42%

IVZ Fundamentals

IVZ Revenue

Revenue (TTM)

6.0B

Revenue Y/Y

-18.15%

Revenue Q/Q

-0.16%

IVZ Earnings

Earnings (TTM)

683.9M

Earnings Y/Y

-56%

Earnings Q/Q

5.86%

Price Action

52 Week Range

13.0523.08

(Low)(High)

Last 7 days

-5.8%

Last 30 days

-14.7%

Last 90 days

-17.7%

Trailing 12 Months

-27.4%

IVZ Financial Health

Debt/Equity

0.1

Debt/Cashflow

0.47

IVZ Investor Care

Dividend Yield

4.83%

Dividend/Share (TTM)

0.73

Buy Backs (1Y)

1.39%

Diluted EPS (TTM)

1.49

Peers (Alternatives to Invesco)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BX	61.0B	8.5B	-5.41%	-28.24%	34.88	7.16	-62.27%	-70.16%
KKR	43.8B	5.7B	10.72%	-12.66%	-52.12	7.66	-64.76%	-118.02%
AMP	33.8B	14.3B	-11.79%	0.40%	10.39	2.44	6.72%	-7.28%
BEN	13.2B	8.0B	-11.87%	0.21%	13.13	1.64	-7.35%	-48.21%
MID-CAP
IVZ	6.9B	6.0B	-14.67%	-27.40%	10.05	1.14	-12.26%	-50.90%
HLI	5.8B	737.1M	-5.88%	1.43%	47.96	7.87	-67.95%	-74.36%
AMG	5.3B	2.3B	-14.39%	-1.48%	4.59	2.26	-3.43%	102.56%
EVR	4.5B	2.8B	-8.04%	2.68%	9.48	1.63	-15.97%	-35.62%
JHG	4.2B	2.2B	-8.84%	-22.68%	15.24	1.9	-20.36%	-55.18%
LAZ	3.1B	2.9B	-6.92%	1.75%	8.8	1.1	-12.79%	-32.30%
AMK	2.3B	618.3M	14.21%	36.32%	21.85	3.65	16.60%	302.25%
SMALL-CAP
DHIL	492.2M	154.5M	-12.57%	-8.05%	12.17	3.19	-15.20%	-45.51%
VALU	449.7M	40.1M	-4.64%	-26.20%	25.2	11.21	-0.04%	-31.55%
SCU	211.1M	554.5M	1.91%	-36.98%	84.12	0.38	-42.93%	-98.83%
PZN	161.6M	197.7M	0.84%	-7.62%	4	0.82	5.01%	-33.91%

Financials for Invesco

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-5.0%	6,049	6,369	6,673	6,864	6,895
Operating Expenses	-1.2%	4,731	4,787	4,978	5,043	5,106
S&GA Expenses	-2.5%	380	390	446	430	424
EBITDA	-16.6%	1,528	1,833	2,271	2,641	-
EBITDA Margin	-12.2%	0.25*	0.29*	0.34*	0.38*	-
Earnings Before Taxes	-19.2%	1,248	1,545	1,975	2,343	2,501
EBT Margin	-15.0%	0.21*	0.24*	0.30*	0.34*	-
Interest Expenses	-6.2%	85.00	91.00	95.00	94.00	95.00
Net Income	-25.9%	684	923	1,076	1,323	1,393
Net Income Margin	-22.0%	0.11*	0.14*	0.16*	0.19*	-
Free Cahsflow	533.1%	510	81.00	226	617	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.7%	29,757	29,272	30,187	31,854	32,686
Cash Equivalents	40.1%	1,434	1,024	937	1,310	2,147
Net PPE	11.3%	561	504	491	500	518
Goodwill	1.8%	8,558	8,406	8,646	8,847	8,883
Liabilities	1.1%	12,915	12,768	13,499	15,067	16,007
Long Term Debt	0.0%	1,488	1,487	1,671	2,086	2,085
Shareholder's Equity	2.1%	15,214	14,904	15,795	15,986	15,496
Retained Earnings	1.4%	7,518	7,416	7,323	7,288	7,169
Additional Paid-In Capital	0.1%	7,555	7,547	7,563	7,547	7,688
Shares Outstanding	0.0%	455	455	455	-	-
Minority Interest	3.4%	630	609	681	641	672

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	198.0%	703	236	345	730	1,078
Share Based Compensation	-9.4%	106	117	124	131	140
Cashflow From Investing	24.5%	-375	-497	-780	-787	-847
Cashflow From Financing	-39.0%	-966	-695	-70.80	-75.80	117
Dividend Payments	2.1%	335	328	321	314	308
Buy Backs	0.7%	245	243	248	249	61.00

Risks for IVZ

What is the probability of a big loss on IVZ?

87.3%

Probability that Invesco stock will be more than 20% underwater in next one year

68.1%

Probability that Invesco stock will be more than 30% underwater in next one year.

43.9%

Probability that Invesco stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does IVZ drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Invesco was unfortunately bought at previous high price.

Drawdowns

Returns for IVZ

Cumulative Returns on IVZ

-2.4%

10-Year Cumulative Returns

-5.5%

7-Year Cumulative Returns

-9.1%

5-Year Cumulative Returns

30.4%

3-Year Cumulative Returns

What are the long-term rolling returns for IVZ?

FIve years rolling returns for Invesco.

Annualized Returns

Which funds bought or sold IVZ recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-79.87	-983,054	352,946	-%
2023-03-10	MATHER GROUP, LLC.	new	-	182,077	182,077	-%
2023-03-07	Great Lakes Retirement, Inc.	new	-	585,359	585,359	0.15%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-74.6	-216,000	107,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	sold off	-100	-	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-58.85	-2,331,770	2,741,230	-%
2023-02-27	Parallax Volatility Advisers, L.P.	reduced	-0.4	285,839	1,213,840	-%
2023-02-24	NATIXIS	new	-	4,451,880	4,451,880	0.03%
2023-02-24	SRS Capital Advisors, Inc.	added	11.33	2,189	6,189	-%
2023-02-22	CVA Family Office, LLC	reduced	-99.56	-14,910	90.00	-%

Latest Funds Activity

Are funds buying IVZ calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own IVZ

No. of Funds

Invesco News

Schedule 13G FIlings of Invesco

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 08, 2023	blackrock inc.	10.2%	46,469,601	SC 13G/A
Feb 16, 2023	trian fund management, l.p.	7.68%	34,909,352	SC 13D/A
Feb 13, 2023	fusion family wealth llc	5.97%	1,291,732	SC 13G
Feb 13, 2023	fusion family wealth llc	10.23%	451,317	SC 13G
Feb 13, 2023	fusion family wealth llc	4.30%	387,720	SC 13G
Feb 09, 2023	vanguard group inc	11.58%	52,650,163	SC 13G/A
Feb 06, 2023	state street corp	5.59%	25,436,401	SC 13G
Jan 31, 2023	trian fund management, l.p.	8.96%	40,758,634	SC 13D/A
Jan 25, 2023	trian fund management, l.p.	10.68%	48,586,677	SC 13D/A
Jan 24, 2023	blackrock inc.	9.9%	45,222,769	SC 13G/A

IVZ Fair Value

Invesco fair value in different scenarios

The table shows the Fair Value estimates for Invesco for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	21.87 44.64%	27.04 78.84%	31.33 107.21%	38.02 151.46%	45.08 198.15%
Very High Inflation	- -	- -	- -	- -	- -

Historical Invesco Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Invesco

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	4	Insider Trading
Mar 15, 2023	PRE 14A	PRE 14A
Mar 10, 2023	SC 13G/A	Major Ownership Report
Mar 10, 2023	SC 13G/A	Major Ownership Report
Mar 10, 2023	8-K	Current Report
Mar 08, 2023	SC 13G/A	Major Ownership Report
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading

Latest Insider Trading transactions for IVZ

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Johnson Elizabeth S.	acquired	-	-	3,155	-
2023-03-01	FLANAGAN MARTIN L	sold	-4,050,960	17.43	-232,413	president & ceo
2023-02-28	Vacheron Terry	sold (taxes)	-9,183	17.66	-520	chief accounting officer
2023-02-28	Krevitt Jennifer	acquired	-	-	11,325	smd & chief hr officer
2023-02-28	Wong Tony	sold (taxes)	-144,653	17.66	-8,191	senior managing director
2023-02-28	Wong Tony	acquired	-	-	16,957	senior managing director
2023-02-28	Krevitt Jennifer	sold (taxes)	-37,474	17.66	-2,122	smd & chief hr officer
2023-02-28	Butcher Stephanie	acquired	-	-	40,819	senior managing director
2023-02-28	Sharp Douglas J	sold (taxes)	-403,178	17.66	-22,830	senior managing director
2023-02-28	Giuliano Mark F	acquired	-	-	42,534	smd & chief adm officer

About Invesco

Martin L. Flanagan

www.invesco.com

8510

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, fixed income, commodity, 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 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 December 1935 and is based in Atlanta, Georgia with an additional office in Hamilton, Bermuda.

IVZ Income Statement

2022-12-31

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating revenues:
Total operating revenues	$ 6,048.9	$ 6,894.5	$ 6,145.6
Operating expenses:
Third-party distribution, service and advisory	1,886.2	2,149.3	1,947.6
Employee compensation	1,725.1	1,911.3	1,807.9
Marketing	114.9	98.6	83.3
Property, office and technology	539.8	526.0	512.3
General and administrative	380.2	424.1	480.8
Transaction, integration and restructuring	21.2	(65.9)	330.8
Amortization of intangibles	63.8	62.9	62.5
Total operating expenses	4,731.2	5,106.3	5,225.2
Operating income	1,317.7	1,788.2	920.4
Other income/(expense):
Equity in earnings of unconsolidated affiliates	106.1	152.3	72.7
Interest and dividend income	24.4	25.2	20.5
Interest expense	(85.2)	(94.7)	(129.3)
Other gains/(losses), net	(139.5)	120.5	44.9
Other income/(expense) of CIP, net	24.2	509.0	139.9
Income before income taxes	1,247.7	2,500.5	1,069.1
Income tax provision	(322.2)	(531.1)	(261.6)
Net income	925.5	1,969.4	807.5
Net (income)/loss attributable to noncontrolling interests in consolidated entities	(4.8)	(339.6)	(45.9)
Dividends declared on preferred shares	(236.8)	(236.8)	(236.8)
Net income attributable to Invesco Ltd.	$ 683.9	$ 1,393.0	$ 524.8
Earnings per common share:
Basic (usd per share)	$ 1.50	$ 3.01	$ 1.14
Diluted (usd per share)	$ 1.49	$ 2.99	$ 1.13
Investment management fees
Operating revenues:
Total operating revenues	$ 4,358.4	$ 4,995.9	$ 4,451.0
Service and distribution fees
Operating revenues:
Total operating revenues	1,405.5	1,596.4	1,419.0
Performance fees
Operating revenues:
Total operating revenues	68.2	56.1	65.6
Other
Operating revenues:
Total operating revenues	$ 216.8	$ 246.1	$ 210.0

IVZ Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 1,234.7	$ 1,896.4
Accounts receivable	801.8	785.0
Investments	996.6	926.3
Cash and cash equivalents of CIP	199.4	250.7
Accounts receivable and other assets of CIP	203.7	532.6
Investments of CIP	8,531.4	9,042.5
Assets held for policyholders	668.7	1,893.6
Other assets	860.5	729.9
Property, equipment and software, net	561.1	518.1
Intangible assets, net	7,141.2	7,228.0
Goodwill	8,557.7	8,882.5
Total assets	29,756.8	32,685.6
LIABILITIES
Accrued compensation and benefits	860.8	1,062.3
Accounts payable and accrued expenses	1,314.8	1,157.1
Debt of CIP	6,590.4	7,336.1
Other liabilities of CIP	329.6	846.3
Policyholder payables	668.7	1,893.6
Debt	1,487.6	2,085.1
Deferred tax liabilities, net	1,662.7	1,626.3
Total liabilities	12,914.6	16,006.8
Commitments and contingencies (See Note 18)
TEMPORARY EQUITY
Redeemable noncontrolling interests in consolidated entities	998.7	510.8
Equity attributable to Invesco Ltd.:
Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of December 31, 2022 and 2021)	4,010.5	4,010.5
Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of December 31, 2022 and 2021)	113.2	113.2
Additional paid-in-capital	7,554.9	7,688.0
Treasury shares	(3,040.9)	(3,043.6)
Retained earnings	7,518.3	7,169.2
Accumulated other comprehensive income/(loss), net of tax	(942.4)	(441.5)
Total equity attributable to Invesco Ltd.	15,213.6	15,495.8
Equity attributable to nonredeemable noncontrolling interests in consolidated entities	629.9	672.2
Total permanent equity	15,843.5	16,168.0
Total liabilities, temporary and permanent equity	$ 29,756.8	$ 32,685.6