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IVZ price
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Research · S&P 500 · Financials
IVZ · Invesco
The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.
Value Scorecard · run 2026-10-18
13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence
27/50
low-moderate value score10 of 12 checks scored10 of the 12 checks that carry a score were scored from the data available. 2 could not be scored (ROIC, Margin of Safety) and were left out, so the score is out of 50 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.
Earnings & returns
EPS Trend
1/5Diluted EPS: $1.49 (2022), -$0.73 (2023), $1.18 (2024), -$1.60 (2025). The latest figure is at or below zero; the framework scores that as 1.
ROE Trend
1/5ROE (net income / common equity): 6.1% (2022), -3.2% (2023), 5.1% (2024), -7.5% (2025). Median 1.0%, lowest -7.5%; the framework scores a median 5% or less as 1.
ROIC
Not scoredROIC not available: the 10-K financial data filed with the SEC has no standard operating income figure (or pre-tax income and interest expense), total assets and current liabilities for the same fiscal year.
Profit Margins
1/5Net margin of -0.9%; the framework scores a negative net margin as 1; gross margin 29.5%, operating margin 20.0%.
Balance sheet & cash
Debt-to-Equity
5/5Debt-to-equity of 0.12; the framework scores below 0.3 as 5 (total debt $1.62B, total cash $915.40M).
Free Cash Flow
4/5Free cash flow (operating cash flow minus capital expenditure): $510.30M (2022), $1.14B (2023), $1.12B (2024), $1.44B (2025). It rose every year but one and ended above 2022; the framework scores that as 4.
Retained Earnings
2/5Retained earnings, as filed in the 10-Ks (SEC EDGAR): $7.52B (2022), $6.83B (2023), $6.99B (2024), $5.89B (2025). It ended at or below 2022; the framework scores that as 2.
Valuation models
Graham IV
1/5Trailing EPS is -$0.68; the Graham formula requires positive trailing EPS, so no intrinsic value is computed.
DCF Value
5/5FCF/share = $2.584, stage 1 growth = 5.6% for 5 years, terminal growth = 3%, discount rate = 10%. Stage 1 PV = $11.45, PV of terminal value = $31.00, DCF value = $42.45. Current price $28.20; price is 33.6% below the model value.
Margin of Safety
Not scoredNeeds both a Graham value and a DCF value. Graham value N/A (not comparable); DCF value $42.45 (price is 33.6% below the model value).
Price-to-Book
4/5P/B of 1.25; the framework scores 1.0-1.5 as 4.
Business quality
Moat Evidence
Not scoredA moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.
Return on capital, each year
Not available: the 10-K financial data has no standard figures for operating income, total assets and current liabilities in the same years, as is common for banks, insurers and REITs.
Gross margin, each year
Not reported: the filings don’t state a gross profit or cost of revenue figure, as is common for oil and gas companies, banks and insurers.
Competition, in the company’s own words · 10-K filed Feb 24, 2026
The investment management business is highly competitive, with points of differentiation including investment performance, fees, range of products offered, brand recognition, business reputation, financial strength, depth and continuity of relationships and quality of service. We compete with a large number of investment management firms, commercial banks, investment banks, broker-dealers, hedge funds, insurance companies and, increasingly, firms outside the traditional financial services industry, such as technology providers. Many of these competitors have greater financial resources and higher brand recognition than Invesco. However, we believe our experience as a trusted partner to clients, the quality and diversity of our investment capabilities, product types and channels of distribution, and our commitment to innovation enable us to compete effectively in the global investment management business. There are few independent investment managers with teams as globally diverse as Invesco's and the same breadth and depth of investment capabilities and vehicles. We offer multiple investment objectives within the various asset classes and products that we manage. We also believe being an independent investment manager is a competitive advantage, as our business model avoids conflicts that are inherent within institutions that both manage and distribute and/or service those products.
The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.
Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.
Capital Allocation
3/5Capital allocation, 2022-2025: dividends or buybacks paid in every year (pass); $4.73B paid out against $4.21B of free cash flow (fail: paid out more than free cash flow); total debt $8.56B to $9.78B, up 14.3%, 6.4x EBITDA (fail: up more than 10% and above 2x EBITDA); shares outstanding 0.45B to 0.44B, down 2.4% (pass). 2 of 4 tests passed; the framework scores that as 3.
Filings
Company notices to the SEC
Not scoredThree kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.
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These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.
How the Graham and DCF values were calculated
Graham Formula:
Trailing EPS -$0.68 — formula requires positive trailing EPS, no value computed.
DCF:
FCF/share = $2.584
Stage 1 growth = 5.6% for 5 years | terminal growth = 3.0% | discount rate = 10.0%
Y1: $2.729 → PV $2.481
Y2: $2.881 → PV $2.381
Y3: $3.043 → PV $2.286
Y4: $3.213 → PV $2.195
Y5: $3.393 → PV $2.107
Stage 1 PV sum = $11.45
Terminal value at end of Y5 = $49.93
PV of terminal value = $31.00
DCF value = $42.45
Current price $28.20 vs DCF value $42.45 — price is 33.6% below the model value.Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $28.20. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.
Recent headlines · third-party publishers · not investment advice
In the news
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The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.