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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's recent performance was driven by strong Q4 2025 earnings, with diluted EPS of $0.62, beating estimates. Assets Under Management (AUM) reached a record $2.17 trillion, up 18% year-over-year. The company's strategic partnerships and pending reclassification of its QQQ ETF also boosted investor optimism. Additionally, Invesco's upgrade to a Zacks Rank #1 (Strong Buy) reflected growing optimism about its earnings prospects. A non-cash intangible impairment of $1.8 billion negatively impacted Q4 diluted EPS by $3.01. (Source: Invesco Ltd. Q4 2025 Earnings Call Highlights, Zacks)

1.c. Company Highlights

2. Invesco Ltd. Delivers Strong FY 2025 Results with Revenue Growth and Margin Expansion

Invesco Ltd. reported net revenue of $1.3 billion in Q4 2025, a 6% increase YoY, driven by investment management fees and the QQQ reclassification. For the full year 2025, net revenue grew 6% to $5.1 billion. The company's operating margin expanded by 230 basis points to 34.6% in 2025, resulting in 14% growth in operating income and 19% improvement in EPS to $2.58. EPS in Q4 came in at $0.62, beating analyst estimates of $0.58. The company's expense base was relatively flat, with operating expenses increasing by $34 million YoY in Q4.

Publication Date: Feb -04

📋 Highlights
  • Significant Recapitalization: Invesco repurchased $1.5 billion in preferred stock, reducing outstanding preferred stock to $2.5 billion and lowering leverage from 2.8x to 2.2x by Q4 2025.
  • Revenue and Margin Growth: Net revenue rose 6% in 2025, with ETF/index revenues up 22% and operating margin expanding 230 basis points, driving 14% operating income growth and 19% EPS improvement.
  • Record AUM and Flows: Achieved $2.2 trillion in assets under management, with $19 billion in Q4 net long-term inflows and 5% annualized organic growth, including $80 billion in full-year net inflows.
  • Private Markets Momentum: Private markets AUM grew 12% in Q4, generating $300 million in net inflows, primarily from direct real estate and strategic partnerships (Barings, LGT Capital).
  • Strategic Divestitures: Completed sales of Intelliflo and a majority stake in India’s asset management business, alongside a Canada partnership with CI Global, aiming to streamline operations and boost growth.

Segment Performance

Invesco's ETF and index investment capability produced record revenues, growing the top line by 22% in 2025. The company's Asian and EMEA regions also delivered significant revenue growth, with combined revenue up 13% for the year. The private markets platform grew 12% in Q4, driven by direct real estate. The company's China JV continued to perform well, with over $20 billion in flows in 2025.

Asset Flows and AUM

Invesco generated over $80 billion in net long-term inflows in 2025, representing 6% organic growth. The company's AUM reached a record $2.2 trillion at the end of 2025, with strong net long-term inflows of $19 billion in Q4. The company's active funds performed well, with 44% of active funds in the top quartile of peers on a 3-year time horizon, and 70% beating their respective benchmark on a 5-year basis.

Valuation and Outlook

Given Invesco's strong FY 2025 results and growth prospects, the stock trades at a P/E Ratio of 11.45 and a P/B Ratio of 0.98. Analysts estimate revenue growth of 6.3% for FY 2026. The company's ROE is 7.65%, and its dividend yield is 3.15%. With a strong track record of delivering value to clients and shareholders, Invesco is well-positioned for continued growth.

3. NewsRoom

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After Soaring 84% in 5 Years, Is the Invesco QQQ Trust Still a Good ETF to Buy in 2026?

Feb -10

Source: fool.com

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Invesco Ltd. Announces January 31, 2026 Assets Under Management

Feb -10

Source: prnewswire.com

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Invesco Ltd. $IVZ Shares Bought by Savant Capital LLC

Feb -10

Source: defenseworld.net

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Principal Financial Group Inc. Sells 547,522 Shares of Invesco Ltd. $IVZ

Feb -08

Source: defenseworld.net

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IVZ or CG: Which Is the Better Value Stock Right Now?

Feb -05

Source: zacks.com

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Harel Insurance Sold $330 Million of Invesco KBW Bank ETF

Feb -05

Source: fool.com

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Invesco International Value Fund Q4 2025 Performance Review

Feb -05

Source: seekingalpha.com

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Foundations Investment Advisors LLC Acquires Shares of 21,905 Invesco Ltd. $IVZ

Feb -03

Source: defenseworld.net

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: 6.4/10

Value: 7.6

Growth: 2.9

Quality: 6.7

Yield: 7.0

Momentum: 8.5

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
Affiliated Managers Group

A-Score: 5.7/10

Value: 4.2

Growth: 5.4

Quality: 7.7

Yield: 0.0

Momentum: 9.0

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Franklin Resources

A-Score: 5.6/10

Value: 5.0

Growth: 2.8

Quality: 4.3

Yield: 8.0

Momentum: 5.5

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Hamilton Lane

A-Score: 4.7/10

Value: 1.6

Growth: 6.1

Quality: 8.3

Yield: 4.0

Momentum: 2.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
TPG

A-Score: 4.1/10

Value: 1.1

Growth: 1.6

Quality: 6.0

Yield: 7.0

Momentum: 3.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
StepStone Group

A-Score: 4.1/10

Value: 4.2

Growth: 1.9

Quality: 2.5

Yield: 5.0

Momentum: 5.5

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

27.29$

Current Price

27.29$

Potential

-0.00%

Expected Cash-Flows