Invesco (IVZ) FY2019 results: revenue $6.1 billion, up 15.1% on the year
Invesco Ltd. (IVZ) reported revenue of $6.1 billion for fiscal 2019, the year ended 31 December 2019, up 15.1% on the year before. Net income was $565 million, down 36.0%, and diluted earnings per share $1.28. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$6.1 billion
+15.1% on the year
FY2012FY2019
Operating margin
13.2%
22.7% a year earlier
FY2012FY2019
Net income
$565 million
-36.0% on the year
FY2012FY2019
Diluted EPS
$1.28
-40.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,117
5,314
5,160
+15.1%
Operating income
808
1,205
1,277
-32.9%
Operating margin
13.2%
22.7%
24.7%
Interest expense
136
112
94.8
+21.7%
Pre-tax income
973
1,138
1,429
-14.5%
Income tax
235
255
268
-7.8%
Effective tax rate
24.2%
22.4%
18.8%
Net income
565
883
1,127
-36.0%
Net margin
9.2%
16.6%
21.8%
Diluted EPS
$1.28
$2.14
$2.75
-40.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,117
829
1,158
+34.7%
Capital expenditure
124
102
112
+21.3%
Free cash flow
992
726
1,046
+36.6%
Free cash flow margin
16.2%
13.7%
20.3%
Cash from investing
-1,433
-2,899
-974
Cash from financing
201
1,540
169
-86.9%
Depreciation and amortisation
178
142
117
+25.0%
Share-based compensation
208
172
175
+20.4%
Buybacks
111
0.0
63.8
Dividends paid
529
491
472
+7.8%
Dividend per share
$1.23
$1.19
$1.15
+3.4%
Diluted shares, weighted
440m
412m
410m
+6.8%
Shares outstanding at period end
453m
397m
407m
+14.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
13,862
8,579
8,696
+61.6%
Non-controlling interest
456
357
260
+27.5%
Redeemable equity
384
396
243
-3.2%
Debt
2,080
2,409
2,076
-13.6%
Other liabilities
22,638
19,237
20,394
+17.7%
Total liabilities and equity
39,420
30,978
31,669
+27.3%
Fixed assets
584
469
491
+24.5%
Goodwill
8,509
7,157
6,591
+18.9%
Intangible assets
7,358
2,176
1,559
+238.1%
Investments
n/a
n/a
347
Cash and equivalents
1,049
1,148
2,006
-8.6%
Other assets
21,920
20,029
20,676
+9.4%
Total assets
39,420
30,978
31,669
+27.3%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.