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1. Company Snapshot

1.a. 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 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.

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1.b. Last Insights on IVZ

Invesco Ltd.'s recent performance was driven by strong Q3 2025 earnings, beating estimates with $0.61 per share, and record assets under management (AUM) of $2.12 trillion. The company's organic growth, robust ETF inflows, and improved efficiency were key positives. Additionally, Invesco's high yield of 3.5%+ and solid credit profile make it an attractive option. New investor interest is evident, with Del-Sette acquiring a 131,156 share position and Envestnet Portfolio Solutions investing $197,000. A Buy rating from analysts further supports the stock.

1.c. Company Highlights

2. Invesco's Strong Q3 Earnings: A Closer Look

Invesco's third-quarter financial performance was robust, with net revenues reaching $1.2 billion, an increase of $82 million compared to the same quarter last year, driven primarily by investment management fees. The company's adjusted operating income and margin also showed significant improvement, with a 300 basis point increase in operating margin to 34.2%. Adjusted diluted earnings per share (EPS) came in at $0.61, beating analyst estimates of $0.44. The company's strong financial performance was largely driven by its record assets under management (AUM) of $2.1 trillion, a 6% increase from the previous quarter and 18% higher than the same quarter last year.

Publication Date: Nov -02

📋 Highlights
  • Record AUM of $2.1 trillion: driven by $29 billion in net long-term inflows, 8% annualized organic growth.
  • $100 million net cash from Intelliflo sale: with up to $65 million in future earn-outs, enhancing balance sheet strength.
  • 34.2% operating margin improvement: of 300 bps sequentially, driven by 480 bps positive operating leverage.
  • China JV AUM hits $122 billion: with $8.1 billion net inflows, 16% quarter-over-quarter growth.
  • ETF AUM reaches $1 trillion: , including $16 billion in active ETFs, with 65% of 2024 launches being active strategies.

Business Highlights and Strategic Initiatives

Invesco made notable progress in simplifying its organizational focus, including the implementation of its hybrid investment platform, which is expected to drive simplification and cost avoidance. The company also announced the sale of Intelliflo, its cloud-based practice management software subsidiary, which is expected to generate net cash of approximately $100 million at closing. Additionally, Invesco's China JV produced exceptionally strong results, with a record high AUM of $122 billion and net long-term inflows of $8.1 billion.

Valuation and Growth Prospects

With a P/E Ratio of 10.68 and a P/S Ratio of 1.68, Invesco's valuation appears reasonable compared to its historical averages. Analysts estimate revenue growth of 12.5% for next year, which suggests a positive outlook for the company's future performance. Invesco's strong financial performance, combined with its strategic initiatives and growth prospects, positions the company well for future success.

Fixed Income and ETF Business

Invesco's fixed income business continued to show strength, with over $4 billion in net long-term inflows, driven by its geographic profile and longer duration strategies overseas. The company's ETF platform also gained market share, with a record AUM of $1 trillion and 65% of its ETF launches this year being active. Invesco's active ETF AUM firm-wide stands at $16 billion, indicating a successful strategy in the ETF space.

Capital Management and Shareholder Returns

Invesco remains committed to returning capital to shareholders, with a capital priority focused on improving its balance sheet and investing in its growth capabilities. The company repaid $260 million of its 3-year bank term loan, reducing the remaining balance to $240 million, which is expected to be repaid by the end of the month. Invesco's dividend yield of 3.5% also provides an attractive return for shareholders.

3. NewsRoom

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Invesco Ltd. to Participate in the Goldman Sachs 2025 Financial Services Conference

Dec -03

Source: prnewswire.com

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Why has Invesco's QQQ called me two dozen times in the past few weeks? Is it a scam?

Dec -03

Source: marketwatch.com

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2 Invesco ETFs to Buy Before 2026

Dec -01

Source: 247wallst.com

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Tradr Launches SMQ, the First Monthly Reset Inverse ETF Tracking Invesco QQQ®

Dec -01

Source: prnewswire.com

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Invesco (IVZ) Up 1.8% Since Last Earnings Report: Can It Continue?

Nov -27

Source: zacks.com

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Invesco Small Cap Value Fund Q3 2025 Performance Review

Nov -20

Source: seekingalpha.com

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Invesco Small Cap Value Fund Q3 2025 Portfolio Positioning

Nov -20

Source: seekingalpha.com

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Invesco Provides Estimated Capital Gain Distribution Information for 2025

Nov -20

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.29%)

6. Segments

Investment Management

Expected Growth: 9.76%

Invesco Ltd.'s 9.76% growth in Investment Management is driven by increasing demand for passive investments, expansion into emerging markets, and strategic acquisitions. Additionally, the company's diversified product offerings, strong brand recognition, and cost savings initiatives have contributed to its growth. Furthermore, the trend towards fee-based revenue models and the growing importance of ESG considerations have also supported Invesco's growth in this segment.

Service and Distribution

Expected Growth: 7.95%

Invesco Ltd.'s Service and Distribution segment growth of 7.95% is driven by increasing demand for investment management services, expansion of distribution channels, and strategic acquisitions. Additionally, the segment benefits from a growing global wealth management market, rising adoption of exchange-traded funds (ETFs), and a strong brand reputation.

Other

Expected Growth: 8.78%

Invesco Ltd.'s 8.78% growth is driven by increasing demand for its investment management services, expansion into emerging markets, and strategic acquisitions. Additionally, the company's focus on sustainable and ESG-focused investment products has attracted environmentally conscious investors, contributing to its growth.

Performance

Expected Growth: 8.97%

Invesco Ltd.'s 8.97% growth is driven by strong investment performance, successful acquisitions, and increasing demand for its exchange-traded funds (ETFs). The company's diversified product offerings, global expansion, and cost savings initiatives also contribute to its growth momentum.

7. Detailed Products

Active Equity

Invesco's active equity strategies aim to deliver long-term outperformance through a combination of rigorous research, a disciplined investment process, and a focus on risk management.

Fixed Income

Invesco's fixed income strategies offer a range of solutions to help investors navigate the complexities of the bond market, from government securities to corporate bonds and emerging market debt.

Multi-Asset

Invesco's multi-asset strategies combine different asset classes to provide a balanced portfolio that can help investors achieve their long-term goals.

Alternatives

Invesco's alternative strategies offer a range of investment opportunities in real assets, private equity, and hedge funds, providing investors with diversification and potential for enhanced returns.

Exchange-Traded Funds (ETFs)

Invesco's ETFs offer a range of investment options that track various market indexes, sectors, or asset classes, providing investors with flexibility and transparency.

Indexing

Invesco's indexing strategies offer a range of investment options that track various market indexes, providing investors with broad diversification and low costs.

Sustainable Investing

Invesco's sustainable investing strategies aim to deliver long-term outperformance while incorporating environmental, social, and governance (ESG) considerations.

8. Invesco Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Invesco Ltd. operates in a highly competitive industry, but the threat of substitutes is mitigated by the company's strong brand recognition and diversified product offerings.

Bargaining Power Of Customers

Invesco Ltd.'s customers have limited bargaining power due to the company's large scale and diversified customer base.

Bargaining Power Of Suppliers

Invesco Ltd. has a moderate level of dependence on its suppliers, but the company's large scale and diversified supply chain mitigate the bargaining power of suppliers.

Threat Of New Entrants

The asset management industry is highly competitive, and new entrants can easily enter the market, posing a significant threat to Invesco Ltd.'s market share.

Intensity Of Rivalry

The asset management industry is highly competitive, and Invesco Ltd. faces intense rivalry from established players and new entrants, which can lead to pricing pressures and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 37.28%
Debt Cost 3.95%
Equity Weight 62.72%
Equity Cost 11.16%
WACC 8.47%
Leverage 59.43%

11. Quality Control: Invesco Ltd. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Invesco

A-Score: 6.3/10

Value: 7.4

Growth: 2.9

Quality: 7.2

Yield: 7.0

Momentum: 7.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Franklin Resources

A-Score: 5.9/10

Value: 5.1

Growth: 3.4

Quality: 4.3

Yield: 8.0

Momentum: 6.5

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Affiliated Managers Group

A-Score: 5.7/10

Value: 5.8

Growth: 5.6

Quality: 6.8

Yield: 0.0

Momentum: 7.5

Volatility: 8.7

1-Year Total Return ->

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Stock-Card
Hamilton Lane

A-Score: 4.9/10

Value: 2.6

Growth: 6.1

Quality: 8.4

Yield: 4.0

Momentum: 2.0

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
TPG

A-Score: 4.3/10

Value: 1.3

Growth: 1.6

Quality: 6.0

Yield: 7.0

Momentum: 4.0

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
StepStone Group

A-Score: 4.1/10

Value: 4.4

Growth: 2.0

Quality: 2.6

Yield: 4.0

Momentum: 6.0

Volatility: 5.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

26.21$

Current Price

26.21$

Potential

-0.00%

Expected Cash-Flows