Friday 6 November 2026 Export IVZ’s income statement to Excel — free account

Invesco Ltd.

Invesco Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $6.4 billion, up 5.11% from fiscal 2024.

Revenue: +14.2%
EPS: −1.49%
Free cash flow: −24.5%
Total debt: +4.48%

Quarter to September 2026, against a year earlier

27.45 0.37 +1.37%

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Market cap: $11.9B
P/E: 0.0×
Fwd P/E: 10.1×
Dividend yield: 3.13%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Invesco Ltd. (IVZ) valuation and DCF model

What the price implies · reverse DCF

At $27.45 the price implies 12.0% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew −2.7% a year over the last ten years, 1.4% over the last five. The price asks for 14.7 points a year more than its ten-year rate. Return on equity averaged 5.8% over ten years; the price implies 8.5% for good.

In December 2017 the price assumed 11.6% a year; Invesco Ltd. went on to grow the dividend a share 5.7% a year to FY2025.

Price implies: 12.0%
Last 5 years, reported: 1.4%
Last 10 years, reported: −2.7%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF

The price needs: 12.0% a year for ten years; $27.45; today’s price
Its base case: −2.7% a year for five years, then −1.6%; $9.41; 65.7% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Invesco Ltd.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

1 · Dividends

Dividend a share, last twelve months ($)the four quarters to September 2026, from the 10-Q and 10-K filings

Growth, yrs 1–5 (%)

Growth, yrs 6–10 (%)

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 12.0% a year for ten years.

2 · Rates

Cost of equity (%)

Terminal growth (%)

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

Current price ($)

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Value per share Expected return

Use the analysts’ consensus for years 1–3 (4.0%, 21.8%, −61.5%)

How the model ends

Margin of safety (%)

Against Invesco Ltd.’s own cost of capital: risk-free 4.3% + beta 1.65 × equity premium 4.5% = 11.7% cost of equity; weighted, 11.7%.

Use 11.7%

Base case value per share $9.41 ten years discounted, and what follows

Current price $27.45 market price per share

Below today’s price 65.7% downside at the base case’s assumptions

How we got there$4.85 10 years of dividends+$4.56 terminal value=$9.41 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Asset Management).

Multiple	Current	5Y avg	10Y avg	vs 10Y avg	Industry median	vs industry
P/E	—	12.74×	12.48×	—	13.38×	—
P/FCF	6.87×	9.14×	9.55×	28% below	7.79×	12% below
P/B	1.13×	0.88×	0.92×	22% above	0.91×	24% above
EV/EBITDA	—	13.29×	13.13×	—	3.38×	—
EV/Sales	—	2.73×	2.82×	—	3.90×	—

P/E P/FCF P/B EV/EBITDA EV/Sales

IVZ trades at 6.87× P/FCF, against a 10-year average of 9.55× (range 6.87×–16.33×). That is cheaper than 100% of the last 9 year-end readings; re-rating to the average implies $38.15 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.