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Invesco
(NYSE:IVZ)
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Rating:69Neutral
Price Target:
$36.00
▲(9.56% Upside)
Action:Reiterated
Date:09/06/26
IVZ scores positively due to strong cash flow generation and a very constructive earnings-call backdrop (record inflows/AUM, margin expansion, deleveraging, and higher shareholder returns). Offsetting these strengths are weak GAAP/TTM profitability (negative net income and operating profit) and valuation limitations signaled by the negative P/E, while technicals add support via a clear uptrend with moderate momentum.
Positive Factors
Record inflows and AUM growth
Record inflows and AUM growth indicate broad client adoption and stronger distribution across Invesco’s platform. Sustained asset gathering supports recurring fee revenue, improves operating leverage, and strengthens the firm’s ability to compound earnings over the next several quarters.
Negative Factors
Negative reported profitability
Negative net income and operating profit show that recent costs or charges are still overwhelming the benefit of revenue growth and improved gross margin. Until earnings convert the stronger top line into sustainable profits, returns on equity and financial resilience remain constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Record inflows and AUM growth
Record inflows and AUM growth indicate broad client adoption and stronger distribution across Invesco’s platform. Sustained asset gathering supports recurring fee revenue, improves operating leverage, and strengthens the firm’s ability to compound earnings over the next several quarters.
Read all positive factors
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 (IVZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.60B
Dividend Yield2.57%
Average Volume (3M)4.44M
Price to Earnings (P/E)―
Beta (1Y)1.33
Revenue Growth15.64%
EPS Growth-173.65%
CountryUS
Employees7,405
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.68
Shares Outstanding441,499,800
10 Day Avg. Volume3,332,063
30 Day Avg. Volume4,440,651
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.97
Price to Sales (P/S)1.86
P/FCF Ratio8.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$33.94Price Target Upside3.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)2.81
Revenue Forecast (FY)$5.43B
Invesco Business Overview & Revenue Model
Company Description
Invesco Ltd. engages in the investment management business. Its products include mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA....
How the Company Makes Money
Invesco primarily makes money by charging fees for managing client assets and providing related investment services. The company’s core revenue model is asset-based and consists mainly of: (1) Investment management fees: The largest revenue stream...
Invesco Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Positive
The call presented robust top-line momentum, record inflows and AUM, significant margin expansion, improved leverage and capital returns alongside broad product and regional traction (notably ETFs, QQQ, China JV, SMAs and private markets). Key challenges include ongoing net revenue yield compression from mix shift to lower-fee products, net outflows in fundamental equities driven by a few large redemptions, and near-term costs related to the hybrid platform. Overall, the positive operational and financial progress substantially outweighs the manageable headwinds.Positive Updates
Record Net Inflows and AUM Growth
Year-to-date net inflows of $67 billion (7% annualized organic growth). Q2 net long-term inflows were a record $45.1 billion (12th consecutive quarter of net inflows) and overall AUM reached a record $2.5 trillion (14% QoQ, 23% YoY).
Negative Updates
Fundamental Equity Outflows
Fundamental equities experienced net outflows of $7.7 billion in the quarter. Outflows were driven in part by a few large, idiosyncratic institutional liquidations; returning to consistent positive flows depends on sustained performance improvement and market demand.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Net Inflows and AUM Growth
Year-to-date net inflows of $67 billion (7% annualized organic growth). Q2 net long-term inflows were a record $45.1 billion (12th consecutive quarter of net inflows) and overall AUM reached a record $2.5 trillion (14% QoQ, 23% YoY).
Read all positive updates
Company Guidance
The company’s forward guidance emphasized driving durable margin expansion into the high-30s, continued deleveraging and shareholder returns, and near-term implementation costs for the hybrid investment platform of roughly $15 million per quarter in H2 2026 with incremental AUM-related platform expense building from $5 million in Q2 toward ~$10 million per quarter later this year; a non-GAAP effective tax rate of about 25–26% is expected for Q3; management targets a total payout ratio (dividends plus buybacks) near 60% while continuing repurchases (Q2 buybacks were $50M / 1.9M shares and the quarterly dividend was raised to $0.215); balance sheet goals include further revolver paydown and leverage improvement (Q2 leverage was 1.9x inclusive of preferred and 0.54x excluding preferred after >$450M net debt reduction and $343M total debt reduction, with the revolver down from $1.1B to $136M); these targets build on Q2 results and trajectories (AUM $2.5T, record net long‑term inflows $45.1B / ~9% annualized organic growth, net revenue $1.3B, adjusted operating income nearly $500M, adjusted operating margin 37.5%, adjusted diluted EPS $0.71, average net revenue yield 22.4 bps and exit yield 22.0 bps).Invesco Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
58
Neutral
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.90B | 6.38B | 6.07B | 5.72B | 6.05B | 6.89B |
| Gross Profit | 4.65B | 2.75B | 2.03B | 2.01B | 2.44B | 2.83B |
| EBITDA | 1.49B | 1.38B | 1.24B | 1.13B | 1.53B | 2.80B |
| Net Income | -64.50M | -281.70M | 774.80M | -96.90M | 920.70M | 1.63B |
Balance Sheet | ||||||
| Total Assets | 27.47B | 27.09B | 27.01B | 28.93B | 29.76B | 32.69B |
| Cash, Cash Equivalents and Short-Term Investments | 915.40M | 1.98B | 1.50B | 1.93B | 1.43B | 2.15B |
| Total Debt | 1.62B | 10.12B | 7.55B | 9.04B | 8.56B | 9.71B |
| Total Liabilities | 14.37B | 14.09B | 11.34B | 13.02B | 12.91B | 16.01B |
| Stockholders Equity | 12.47B | 12.23B | 14.56B | 14.60B | 15.21B | 15.50B |
Cash Flow | ||||||
| Free Cash Flow | 1.97B | 1.44B | 1.12B | 1.14B | 510.30M | 969.30M |
| Operating Cash Flow | 2.01B | 1.53B | 1.19B | 1.30B | 703.20M | 1.08B |
| Investing Cash Flow | -2.05B | -974.40M | 68.40M | -244.30M | -375.60M | -847.90M |
| Financing Cash Flow | 196.70M | -149.50M | -1.66B | -585.40M | -966.90M | 117.30M |
Invesco Technical Analysis
Positive
32.86
Price Trends
30.29
Positive
28.52
Positive
26.89
Positive
Market Momentum
0.64
Positive
60.89
Neutral
44.63
Neutral
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 32.86 is above the 20-day moving average (MA) of 32.29, above the 50-day MA of 30.29, and above the 200-day MA of 26.89, indicating a bullish trend. The MACD of 0.64 indicates Positive momentum. The RSI at 60.89 is Neutral, neither overbought nor oversold. The STOCH value of 44.63 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
86 Outperform | $3.48B | 11.05 | 25.41% | 9.29% | ― | 0.94% | |
79 Outperform | $182.35B | 26.48 | 11.65% | 1.95% | 23.07% | 1.36% | |
79 Outperform | $23.42B | 11.00 | 20.45% | 4.68% | 6.97% | 11.41% | |
71 Outperform | $53.36B | 16.85 | 12.40% | 1.73% | 1.05% | 27.32% | |
69 Neutral | $14.60B | -48.63 | -0.51% | 2.57% | 15.64% | -173.65% | |
68 Neutral | $17.65B | 23.15 | 7.42% | 3.77% | 8.39% | 181.11% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
IVZ
Invesco
33.07
11.75
55.10%
AB
AllianceBernstein
37.35
2.12
6.00%
BLK
BlackRock
1,122.29
34.94
3.21%
BEN
Franklin Resources
34.73
11.11
47.03%
STT
State Street
194.26
85.41
78.47%
TROW
T Rowe Price
109.78
6.99
6.80%
Invesco Corporate Events
Business Operations and StrategyExecutive/Board Changes
Invesco Announces Asia Pacific Leadership Transition Plans
Positive
Aug 31, 2026
On August 31, 2026, Invesco announced that Andrew Lo, Senior Managing Director and Head of Asia Pacific, will retire on March 31, 2027 after 32 years with the firm, marking the end of a tenure in which he helped build Asia Pacific into a major con...
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.