| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | 1 | — | — | 1 | — | — | — | — |
| Sell | — | 1 | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.08 |
—
—
—
—
—
—
—
—
—
|
| 2025 | 0.94 |
—
—
—
—
|
| 2024 | 1.60 |
—
—
—
—
|
| 2023 | 2.25 |
—
—
—
—
—
|
| 2022 | 3.35 |
—
—
—
—
|
| 2021 | 3.59 |
—
—
—
—
—
|
| 2020 | 6.20 |
—
—
—
—
|
| 2019 | 18.50 |
—
—
—
—
|
| 2018 | 17.28 |
—
—
—
—
—
|
| 2017 | 16.30 |
—
—
—
—
|
| 2016 | 16.40 |
—
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 198.64 | 210.88 | 166.43 | 240.54 |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 198.64 | 210.88 | 166.43 | 240.54 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 1.30 | 1.62 | 1.58 | 2.29 |
| ST’ Debt | 4,458.70 | 4,893.96 | 5,619.26 | 6,210.40 |
| Other | — | — | — | — |
| 4,475.78 | 4,928.29 | 5,649.50 | 6,225.20 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 79.64 | 85.41 | — | — |
—
|
| ’25 | 73.85 | 70.62 | 72.92 | 77.90 |
295.29
|
| ’24 | 68.58 | 68.03 | 73.83 | 76.11 |
286.55
|
| ’23 | 69.29 | 71.43 | 75.13 | 62.08 |
277.93
|
| ’22 | 42.17 | 44.56 | 49.73 | 58.06 |
194.51
|
| ’21 | 40.01 | 43.15 | 43.18 | 42.86 |
169.20
|
| ’20 | 186.70 | 30.17 | 27.44 | 35.86 |
280.17
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 26.69 | 42.23 | — | — |
—
|
| ’25 | 19.35 | 40.63 | 37.30 | 59.81 |
157.09
|
| ’24 | 57.50 | 32.98 | 30.83 | 61.86 |
183.16
|
| ’23 | 67.16 | 86.58 | 52.37 | 31.67 |
237.79
|
| ’22 | 40.14 | 40.64 | 46.01 | 69.30 |
196.08
|
| ’21 | 34.51 | 38.97 | 36.98 | 41.84 |
152.29
|
| ’20 | 110.04 | 20.58 | 13.10 | 26.75 |
170.46
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 26.69 | 42.23 | — | — |
—
|
| ’25 | 19.35 | 40.63 | 37.30 | 59.81 |
157.09
|
| ’24 | 57.50 | 32.98 | 30.83 | 61.86 |
183.16
|
| ’23 | 67.16 | 86.58 | 52.37 | 31.67 |
237.79
|
| ’22 | 40.14 | 40.64 | 46.01 | 69.30 |
196.08
|
| ’21 | 34.51 | 38.97 | 36.98 | 41.84 |
152.29
|
| ’20 | 110.04 | 20.58 | 13.10 | 26.75 |
170.46
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.28) | 0.34 | — | — |
—
|
| ’25 | 0.26 | (0.40) | 0.74 | 0.68 |
1.32
|
| ’24 | 0.49 | (0.38) | 0.63 | (0.09) |
0.65
|
| ’23 | 0.39 | (0.03) | (1.62) | 0.46 |
(0.85)
|
| ’22 | (7.20) | (3.52) | (2.78) | 0.84 |
(12.21)
|
| ’21 | (0.90) | (3.40) | 1.70 | (2.30) |
(4.80)
|
| ’20 | (103.80) | (18.00) | 5.30 | 5.90 |
(98.90)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 9.60 | 6.34 | 7.60 | 5.86 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 30.20 | 15.56 | 9.97 | 9.06 | — | — | — |
High Price
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Employees
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 194.51 | 277.93 | 286.55 | 295.29 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 73.49% | 17.88% | 12.85% | 25.54% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (402.92) | (15.86) | 59.88 | 101.28 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (207.15%) | (5.71%) | 20.90% | 34.30% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (402.92) | (15.86) | 59.88 | 101.28 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (20.21) | (24.22) | (12.72) | (4.97) | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.69 | 6.31 | 5.33 | 4.42 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | (12.21) | (0.85) | 0.65 | 1.32 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.74 | 5.40 | 3.41 | 2.35 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.74 | 5.40 | 3.41 | 2.35 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.54 | 17.76 | 13.59 | 11.92 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34.16 | 44.07 | 53.77 | 66.88 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 12.38 | 6.57 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.31 | 1.37 | 1.51 | 1.90 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.89 | 0.77 | 0.78 | 0.89 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.45 | 19.37 | 20.44 | 22.88 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.24 | 22.63 | 31.97 | 43.00 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 196.08 | 237.79 | 183.16 | 157.09 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| — | ‡‡‡‡‡ | ‡‡‡‡‡ | — | — | — | — | — | — | — | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 196.08 | 237.79 | 183.16 | 157.09 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3,977.95) | (4,277.14) | (4,717.41) | (5,483.07) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,234.82 | 4,458.70 | 4,893.96 | 5,619.26 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,956.04 | 4,260.06 | 4,683.08 | 5,452.82 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 804.08 | 782.67 | 730.73 | 797.54 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6.16%) | (0.72%) | 0.63% | 1.45% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.54% | 0.37% | 0.20% | 0.57% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (56.36%) | (7.51%) | 6.62% | 14.84% | — | — | — |
ROE
|
Invesco Mortgage Capital Inc. (IVR), a mortgage REIT focused on agency RMBS, has endured a decade of extreme volatility, with its stock plunging from triple-digit highs above $188 in 2019 to single-digit lows around $6-8 today. This collapse mirrors brutal book value erosion—BVPS down 93% to $13.59—driven by COVID-19 shocks, unprecedented MBS spread widening, and Fed rate hikes that crushed net interest margins. Massive share dilution (from 11.2 million to 66.8 million shares) preserved liquidity but hammered per-share metrics, while revenue peaked at $778 million pre-pandemic before stabilizing at $286 million in 2024 amid resilient but anemic cash flows.
Profitability swings underscore IVR’s leverage risks: EPS cratered from $28.70 in 2017 to losses exceeding $1.67 billion in 2020, with ROE hitting -108% before scraping 6.6% in 2024. Deleveraging slashed debt 75% to $4.9 billion, boosting ROIC and ROA, yet gross margins languished at 12.9% and insider silence—no buys, minimal sells—signals caution. Valuation looks cheap at 0.8x PB and 1.5x PS, but reflects eroded NAV confidence.
Projections hint at fragile recovery: revenue may halve to $139 million by 2026, but net income turns positive at $47.9 million, driving EPS to $1.00 by 2027 and ROE toward double-digits if Fed cuts widen spreads. Analyst targets offer 9% upside at best or 5% dip on average, with 15%+ yields tempting yield hunters. IVR’s deleveraged balance sheet and hedging could fuel 10-20% rebound, but dilution scars and macro risks demand vigilance—watch BVPS for the next twist.
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