Invesco (IVZ) FY2020 results: revenue $6.1 billion, up 0.5% on the year
Invesco Ltd. (IVZ) reported revenue of $6.1 billion for fiscal 2020, the year ended 31 December 2020, up 0.5% on the year before. Net income was $525 million, down 7.1%, and diluted earnings per share $1.13. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$6.1 billion
+0.5% on the year
FY2013FY2020
Operating margin
15.0%
13.2% a year earlier
FY2013FY2020
Net income
$525 million
-7.1% on the year
FY2013FY2020
Diluted EPS
$1.13
-11.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
6,146
6,117
5,314
+0.5%
Operating income
920
808
1,205
+13.9%
Operating margin
15.0%
13.2%
22.7%
Interest expense
129
136
112
-4.7%
Pre-tax income
1,069
973
1,138
+9.9%
Income tax
262
235
255
+11.3%
Effective tax rate
24.5%
24.2%
22.4%
Net income
525
565
883
-7.1%
Net margin
8.5%
9.2%
16.6%
Diluted EPS
$1.13
$1.28
$2.14
-11.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,230
1,117
829
+10.2%
Capital expenditure
115
124
102
-7.5%
Free cash flow
1,115
992
726
+12.4%
Free cash flow margin
18.1%
16.2%
13.7%
Cash from investing
-860
-1,433
-2,899
Cash from financing
-286
201
1,540
Depreciation and amortisation
204
178
142
+14.6%
Share-based compensation
188
208
172
-9.2%
Buybacks
n/a
111
0.0
Dividends paid
357
529
491
-32.5%
Dividend per share
$0.78
$1.23
$1.19
-36.6%
Diluted shares, weighted
462m
440m
412m
+5.0%
Shares outstanding at period end
459m
453m
397m
+1.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
14,362
13,862
8,579
+3.6%
Non-controlling interest
447
456
357
-1.9%
Redeemable equity
212
384
396
-44.8%
Debt
2,083
2,080
2,409
+0.1%
Other liabilities
19,401
22,638
19,237
-14.3%
Total liabilities and equity
36,504
39,420
30,978
-7.4%
Fixed assets
564
584
469
-3.4%
Goodwill
8,916
8,509
7,157
+4.8%
Intangible assets
7,306
7,358
2,176
-0.7%
Cash and equivalents
1,408
1,049
1,148
+34.3%
Other assets
18,310
21,920
20,029
-16.5%
Total assets
36,504
39,420
30,978
-7.4%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.