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Invesco

DB:3IW
Snowflake Description

Very undervalued with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3IW
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Invesco Ltd. is a publicly owned investment manager. The last earnings update was 32 days ago. More info.


Add to Portfolio Compare Print
  • Invesco is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Invesco has significant price volatility in the past 3 months.
3IW Share Price and Events
7 Day Returns
-4.2%
DB:3IW
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-55.9%
DB:3IW
-11.8%
DE Capital Markets
-20.4%
DE Market
3IW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Invesco (3IW) -4.2% -37.3% -49.7% -55.9% -72.3% -79%
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • 3IW underperformed the Capital Markets industry which returned -11.8% over the past year.
  • 3IW underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
3IW
Industry
5yr Volatility vs Market

3IW Value

 Is Invesco undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Invesco to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Invesco.

DB:3IW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $33.09 * 7.4%
$2.45
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $33.09
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:3IW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 21%) (64.82%))
1.087
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.087 * 5.44%)
5.52%

Discounted Cash Flow Calculation for DB:3IW using Excess Returns Model Model

The calculations below outline how an intrinsic value for Invesco is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:3IW Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.4% – 5.52%) * $33.09)
$0.62
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.62 / (5.52% - -0.39%)
$10.54
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $33.09 + $10.54
$43.63
DB:3IW Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3IW represents 0.96107x of NYSE:IVZ
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.96107x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 43.63 x 0.96107
€41.93
Value per share (EUR) From above. €41.93
Current discount Discount to share price of €7.90
= -1 x (€7.90 - €41.93) / €41.93
81.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Invesco is available for.
Intrinsic value
>50%
Share price is €7.9 vs Future cash flow value of €41.93
Current Discount Checks
For Invesco to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Invesco's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Invesco's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Invesco's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Invesco's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3IW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.29
NYSE:IVZ Share Price ** NYSE (2020-04-02) in USD $8.22
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Invesco.

DB:3IW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:IVZ Share Price ÷ EPS (both in USD)

= 8.22 ÷ 1.29

6.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco is good value based on earnings compared to the DE Capital Markets industry average.
  • Invesco is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Invesco's expected growth come at a high price?
Raw Data
DB:3IW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.37x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
24.4%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:3IW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.37x ÷ 24.4%

0.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Invesco's assets?
Raw Data
DB:3IW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $21.73
NYSE:IVZ Share Price * NYSE (2020-04-02) in USD $8.22
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:3IW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:IVZ Share Price ÷ Book Value per Share (both in USD)

= 8.22 ÷ 21.73

0.38x

* Primary Listing of Invesco.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Invesco's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Invesco has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3IW Future Performance

 How is Invesco expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Invesco expected to grow at an attractive rate?
  • Invesco's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Invesco's earnings growth is expected to exceed the Germany market average.
  • Invesco's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3IW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3IW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 24.4%
DB:3IW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts -13.6%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:3IW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3IW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 3,854 1
2021-12-31 4,798 1,154 1,035 8
2020-12-31 4,789 1,125 1,081 8
2020-04-03
DB:3IW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 6,117 1,117 565
2019-09-30 5,631 820 499
2019-06-30 5,252 779 602
2019-03-31 5,173 761 807
2018-12-31 5,314 829 883
2018-09-30 5,434 1,047 1,177
2018-06-30 5,430 1,171 1,175
2018-03-31 5,324 979 1,169
2017-12-31 5,160 1,158 1,127
2017-09-30 4,979 363 946
2017-06-30 4,843 341 919
2017-03-31 4,778 330 905

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Invesco's earnings are expected to grow significantly at over 20% yearly.
  • Invesco's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:3IW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Invesco Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3IW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 2.23 2.78 1.82 6.00
2020-12-31 2.25 2.73 1.74 7.00
2020-04-03
DB:3IW Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.29
2019-09-30 1.17
2019-06-30 1.45
2019-03-31 1.97
2018-12-31 2.14
2018-09-30 2.85
2018-06-30 2.86
2018-03-31 2.85
2017-12-31 2.75
2017-09-30 2.31
2017-06-30 2.24
2017-03-31 2.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Invesco is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Invesco's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Invesco has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3IW Past Performance

  How has Invesco performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Invesco's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Invesco's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Invesco's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Invesco's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Invesco's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Invesco Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3IW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 6,117.40 564.70 539.80
2019-09-30 5,630.50 499.10 511.30
2019-06-30 5,251.70 601.60 467.80
2019-03-31 5,172.90 806.60 459.30
2018-12-31 5,314.10 882.80 485.90
2018-09-30 5,433.80 1,176.80 439.80
2018-06-30 5,429.70 1,174.70 457.20
2018-03-31 5,323.50 1,169.20 446.20
2017-12-31 5,160.30 1,127.30 428.70
2017-09-30 4,979.40 945.60 500.60
2017-06-30 4,843.30 919.30 494.50
2017-03-31 4,778.30 905.20 492.70
2016-12-31 4,734.40 854.20 409.20
2016-09-30 4,779.40 849.20 480.50
2016-06-30 4,851.30 851.00 486.90
2016-03-31 4,980.00 876.20 499.40
2015-12-31 5,122.90 968.10 522.30
2015-09-30 5,159.90 1,009.70 550.40
2015-06-30 5,197.40 1,016.10 579.50
2015-03-31 5,169.20 1,032.10 566.50
2014-12-31 5,147.10 991.50 594.90
2014-09-30 5,095.50 921.20 571.20
2014-06-30 4,956.30 901.30 530.40
2014-03-31 4,801.90 841.80 525.70
2013-12-31 4,644.60 843.70 472.90
2013-09-30 4,466.20 802.70 450.80
2013-06-30 4,308.30 740.60 314.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Invesco has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Invesco used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Invesco's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Invesco's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Invesco has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3IW Health

 How is Invesco's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Invesco's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Invesco is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Invesco's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Invesco's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 10.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Invesco Company Filings, last reported 3 months ago.

DB:3IW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 14,701.80 2,080.30 1,081.00
2019-09-30 14,359.60 2,296.60 1,075.10
2019-06-30 14,696.10 2,120.50 1,226.20
2019-03-31 9,460.50 2,515.70 1,045.40
2018-12-31 9,332.40 2,408.80 1,175.80
2018-09-30 9,742.00 2,814.60 1,651.60
2018-06-30 9,433.20 2,955.80 1,507.80
2018-03-31 9,471.00 2,076.40 1,890.20
2017-12-31 9,198.80 2,075.80 2,035.00
2017-09-30 8,858.40 2,075.30 1,924.10
2017-06-30 8,502.30 2,074.80 1,810.60
2017-03-31 8,040.90 2,093.60 1,557.40
2016-12-31 7,895.50 2,102.40 1,514.00
2016-09-30 8,171.30 2,073.20 1,846.90
2016-06-30 8,042.70 2,072.70 1,689.50
2016-03-31 8,369.80 2,073.20 1,664.60
2015-12-31 8,863.00 2,072.80 2,141.90
2015-09-30 9,032.20 1,689.30 1,820.80
2015-06-30 9,254.20 1,597.50 1,651.30
2015-03-31 9,040.40 1,600.60 1,391.40
2014-12-31 9,285.30 1,576.80 1,655.80
2014-09-30 9,296.60 1,589.10 1,440.70
2014-06-30 9,477.90 1,588.90 1,269.40
2014-03-31 9,007.40 1,588.70 1,029.50
2013-12-31 8,977.30 1,624.30 1,376.00
2013-09-30 9,119.40 1,387.60 1,207.60
2013-06-30 8,754.00 1,651.60 1,043.80
  • Invesco's level of debt (14.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (17% vs 14.1% today).
  • Debt is well covered by operating cash flow (53.7%, greater than 20% of total debt).
  • Invesco earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Invesco's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Invesco has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3IW Dividends

 What is Invesco's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
15.09%
Current annual income from Invesco dividends. Estimated to be 15.84% next year.
If you bought €2,000 of Invesco shares you are expected to receive €302 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Invesco's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Invesco's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:3IW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:3IW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.35 4.00
2021-12-31 1.32 16.00
2020-12-31 1.28 16.00
2020-04-03
DB:3IW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-02 1.240 12.266
2020-01-29 1.240 7.227
2019-10-29 1.240 7.024
2019-07-25 1.240 7.524
2019-04-25 1.240 6.039
2019-02-22 1.200 6.023
2019-01-30 1.200 6.465
2018-10-18 1.200 6.335
2018-07-26 1.200 5.047
2018-04-26 1.200 4.383
2018-02-23 1.160 3.632
2018-01-31 1.160 3.465
2017-10-26 1.160 3.180
2017-07-27 1.160 3.387
2017-04-27 1.160 3.423
2017-01-26 1.120 3.584
2016-11-01 1.120 3.621
2016-07-28 1.120 3.705
2016-04-28 1.120 3.960
2016-01-28 1.080 3.702
2015-10-29 1.080 3.386
2015-07-30 1.080 3.195
2015-04-30 1.080 2.760
2015-02-20 1.000 2.476
2015-01-29 1.000 2.576
2014-10-30 1.000 2.549
2014-07-31 1.000 2.557
2014-05-05 1.000 2.692
2014-02-21 0.900 2.561
2014-01-30 0.900 2.691
2013-11-06 0.900 2.587
2013-10-31 0.900 2.696
2013-07-31 0.900 2.804
2013-04-30 0.900 2.733
2013-02-22 0.690 2.422
2013-01-31 0.690 2.523
2012-11-01 0.690 2.684
2012-07-26 0.690 2.850
2012-04-26 0.690 3.105
2012-02-24 0.490 1.938
2012-01-26 0.490 2.047
2011-10-24 0.490 2.433
2011-07-29 0.490 2.798
2011-07-26 0.490 2.182
2011-04-27 0.490 2.087
2011-01-27 0.440 1.723
2010-11-02 0.440 1.893
2010-10-25 0.440 1.941
2010-08-02 0.440 2.165
2010-07-27 0.440 2.243
2010-05-04 0.440 2.326
2010-04-28 0.440 1.929
2010-01-28 0.410 1.992
2009-10-20 0.410 1.833
2009-07-27 0.410 1.923
2009-05-08 0.410 2.454
2009-04-23 0.410 2.688

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Invesco's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Invesco's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Invesco afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Invesco has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3IW Management

 What is the CEO of Invesco's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Marty Flanagan
COMPENSATION $11,518,949
AGE 59
TENURE AS CEO 14.7 years
CEO Bio

Mr. Martin L. Flanagan, CFA, CPA is the President, Chief Executive Officer and Director of Invesco Ltd. since August 1, 2005. Previously, Mr. Flanagan served as the Chief Executive Officer, Advisor to the Board, and Chairman of Invesco Advisers, Inc. He also served as the Chairman, Chief Executive Officer, President and Director of IVZ Inc., INVESCO Group Services, Inc., and Invesco North American Holdings, Inc. Mr. Flanagan served as the Chief Executive Officer, President and Director of Invesco Holding Company Limited. Previously, he was the President and Co-Chief Executive Officer from January 2004 to July 2005 at Franklin Resources, Inc., and previously served as the Co-President from May 2003 to January 2004, Chief Operating Officer and Chief Financial Officer from November 1999 to May 2003 and Senior Vice President and Chief Financial Officer from 1993 to November 1999. Prior to this, Mr. Flanagan served as the Co-President, Executive Vice President and Director of Franklin Advisers, Inc. He also served as the Chief Financial Officer at Franklin Advisory Services LLC. Mr. Flanagan served as the Chief Financial Officer and Senior Vice President at Franklin Mutual Advisers LLC. He also served as an Executive Vice President at Franklin Templeton Services LLC, Templeton Investment Counsel LLC and Templeton Worldwide Inc. Previously, Mr. Flanagan served as an Executive Vice President, Chief Operating Officer and Director of Templeton, Galbraith & Hansberger, Ltd. until 1992. Before joining Templeton in 1983, he worked with Arthur Andersen & Co. Mr. Flanagan serves as the Vice Chairman of Investment Company Institute. He serves as a Director of INVESCO Asset Management Limited. Mr. Flanagan is a Member of Executive Board of SMU Cox School of Business. He serves on the board of governors. He has also been a member of the Houston Board since 2010 and serves as a Director of Southern Methodist University - Edwin L. Cox School of Business. Mr. Flanagan served as the Chairman of AIM Advisors, Inc. and Investment Company Institute. He served as a Director of Invesco Holding Company Limited. He is also a trustee and vice-chairperson of the Invesco Funds. Mr. Flanagan holds the Chartered Financial Analyst and Certified Public Accountant designations. He holds a B.A. and B.B.A. from Southern Methodist University.

CEO Compensation
  • Marty's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Marty's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Invesco management team in years:

3.7
Average Tenure
57
Average Age
  • The tenure for the Invesco management team is about average.
Management Team

Marty Flanagan

TITLE
President
COMPENSATION
$12M
AGE
59
TENURE
14.7 yrs

Loren Starr

TITLE
Vice Chairman of Board
COMPENSATION
$3M
AGE
57
TENURE
14.5 yrs

Greg McGreevey

TITLE
Senior Managing Director of Investments
COMPENSATION
$5M
AGE
56
TENURE
3.1 yrs

Andrew Tak Lo

TITLE
Senior MD & Head of Invesco Asia Pacific
COMPENSATION
$5M
AGE
57
TENURE
19.2 yrs

Andrew Schlossberg

TITLE
Senior MD & Head of the Americas
COMPENSATION
$5M
AGE
75
TENURE
4.3 yrs

Carl Stanton

TITLE
Managing Partner & Head of Private Equity
AGE
49
TENURE
2.2 yrs

Annette Lege

TITLE
Chief Accounting Officer
AGE
49
TENURE
3.1 yrs

Donie Lochan

TITLE
MD, CTO & Global Head of Technology

Michael Hyman

TITLE
Chief Investment Officer of Global Investment Grade and Emerging Markets

Mark Giuliano

TITLE
Senior MD & Chief Administrative Officer
AGE
57
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Invesco board of directors in years:

9.3
Average Tenure
66
Average Age
  • The tenure for the Invesco board of directors is about average.
Board of Directors

Rick Wagoner

TITLE
Independent Non-Executive Chairman
COMPENSATION
$374K
AGE
66

Marty Flanagan

TITLE
President
COMPENSATION
$12M
AGE
59
TENURE
14.7 yrs

George Baird

TITLE
Chairman of Invesco Leveraged High Yield Fund Limited
AGE
69

Rod Canion

TITLE
Independent Non-Executive Director
COMPENSATION
$280K
AGE
74
TENURE
23.3 yrs

Phoebe Wood

TITLE
Independent Non-Executive Director
COMPENSATION
$315K
AGE
66
TENURE
10.3 yrs

Rob Henrikson

TITLE
Independent Non-Executive Director
COMPENSATION
$280K
AGE
72
TENURE
8.3 yrs

Denis Kessler

TITLE
Independent Non-Executive Director
COMPENSATION
$265K
AGE
67
TENURE
18.1 yrs

Nigel Sheinwald

TITLE
Independent Non-Executive Director
COMPENSATION
$265K
AGE
66
TENURE
4.9 yrs

Sarah Beshar

TITLE
Independent Non-Executive Director
COMPENSATION
$265K
AGE
60
TENURE
2.9 yrs

Bill Glavin

TITLE
Independent Non-Executive Director
COMPENSATION
$92K
AGE
60
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Jun 19 Sell Massachusetts Mutual Life Insurance Company Company 03. Apr 19 29. May 19 -101,166 €19.56 €-1,979,062
10. Jun 19 Buy G. Wagoner Individual 07. Jun 19 07. Jun 19 10,000 €18.27 €182,680
14. May 19 Buy Joseph Canion Individual 13. May 19 13. May 19 10,000 €17.66 €176,636
06. May 19 Buy Ben Johnson Individual 02. May 19 02. May 19 10,000 €19.11 €191,133
06. May 19 Buy Joseph Canion Individual 02. May 19 02. May 19 10,000 €19.00 €189,971
X
Management checks
We assess Invesco's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Invesco has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3IW News

Simply Wall St News

3IW Company Info

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.

Details
Name: Invesco Ltd.
3IW
Exchange: DB
Founded: 1935
$3,467,736,430
458,898,886
Website: http://www.invesco.com
Address: Invesco Ltd.
Two Peachtree Pointe,
1555 Peachtree Street, NE, Suite 1800,
Atlanta,
Georgia, 30309,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE IVZ Common Shares New York Stock Exchange US USD 25. Aug 1995
DB 3IW Common Shares Deutsche Boerse AG DE EUR 25. Aug 1995
LSE 0UAN Common Shares London Stock Exchange GB USD 25. Aug 1995
BOVESPA I1VZ34 BDR EACH REPR 1 COM Bolsa de Valores de Sao Paulo BR BRL 30. Dec 2019
Number of employees
Current staff
Staff numbers
8,821
Invesco employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 00:17
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/03/02
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.