Invesco (IVZ) Q1 FY2026 earnings: revenue $1.7 billion, up 14.1% on the year

Invesco Ltd. (IVZ) reported revenue of $1.7 billion for Q1 FY2026, the quarter ended 31 March 2026, up 14.1% on the same quarter a year earlier. Net income was $230 million, up 34.7% on the year, and diluted earnings per share $0.51. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.

Revenue

$1.7 billion

+14.1% on the year · +3.1% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

19.1%

18.1% a year earlier

Q2 FY2024Q1 FY2026

Net income

$230 million

+34.7% on the year

Q2 FY2024Q1 FY2026

Diluted EPS

$0.51

+34.2% on the year

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 new, 1 kept.

Net revenues rose 14% year on year: Net revenues were $1,264.3 million, up 14.0% from $1,108.7 million a year earlier, driven by higher average AUM and net revenues earned from QQQ.
Adjusted operating income rose 25%: Adjusted operating income was $436.0 million, up 24.7% from $349.5 million. Adjusted operating margin was 34.5%, against 31.5% a year earlier.
Net long-term inflows reached $21.8 billion: Net long-term inflows were $21.8 billion, up from $19.1 billion in the fourth quarter. Annualized long-term organic growth rate was 4.4%, against 4.8% in the prior quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,744	1,692	1,529	+3.1%	+14.1%
Operating income	333	-1,458	277		+20.2%
Operating margin	19.1%	-86.2%	18.1%
Interest expense	24.3	23.0	13.1	+5.7%	+85.5%
Pre-tax income	300	-1,345	345		-13.0%
Income tax	81.1	-350	77.6		+4.5%
Effective tax rate	27.0%	n/a	22.5%
Net income	230	-1,186	171		+34.7%
Net margin	13.2%	-70.1%	11.2%
Diluted EPS	$0.51	-$2.61	$0.38		+34.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	213	456	-84.6	-53.4%
Capital expenditure	14.2	23.6	23.4	-39.8%	-39.3%
Free cash flow	198	432	-108	-54.1%
Free cash flow margin	11.4%	25.5%	-7.1%
Cash from investing	-733	-352	-92.0
Cash from financing	271	356	529	-23.8%	-48.7%
Depreciation and amortisation	33.2	36.0	41.5	-7.8%	-20.0%
Share-based compensation	34.0	20.2	15.2	+68.3%	+123.7%
Buybacks	69.2	25.8	43.1	+168.2%	+60.6%
Dividends paid	95.3	94.6	92.5	+0.7%	+3.0%
Dividend per share	$0.21	n/a	$0.20		+2.4%
Diluted shares, weighted	454m	454m	454m	-0.0%	-0.1%
Shares outstanding at period end	443m	444m	448m	-0.2%	-1.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	12,255	12,231	14,699	+0.2%	-16.6%
Non-controlling interest	682	698	543	-2.3%	+25.6%
Redeemable equity	325	75.4	546	+331.3%	-40.4%
Debt	1,967	1,825	965	+7.8%	+103.8%
Other liabilities	11,606	12,264	11,391	-5.4%	+1.9%
Total liabilities and equity	26,835	27,094	28,144	-1.0%	-4.7%
Fixed assets	365	379	458	-3.7%	-20.4%
Goodwill	8,416	8,477	8,373	-0.7%	+0.5%
Intangible assets	3,916	3,927	5,747	-0.3%	-31.9%
Cash and equivalents	807	1,038	822	-22.2%	-1.8%
Other assets	13,331	13,273	12,744	+0.4%	+4.6%
Total assets	26,835	27,094	28,144	-1.0%	-4.7%

Questions

What was Invesco's revenue in Q1 FY2026?

Invesco (IVZ) reported revenue of $1.7 billion for Q1 FY2026, the quarter ended 31 March 2026, up 14.1% on the same quarter a year earlier.

How much did Invesco earn in Q1 FY2026?

Net income for Q1 FY2026 was $230 million, up 34.7% on the year, and diluted earnings per share $0.51.

When did Invesco report Q1 FY2026 results?

Invesco filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 5 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,763	1,629	1,530	1,446	1,443	1,418	1,443	1,442	1,413	1,475	1,483	1,515	1,593	1,529	1,516	1,640	1,692	1,744	1,826	1,873
Operating income	509	378	345	350	245	210	204	228	-1,076	213	207	100	312	277	214	271	-1,458	333	364	436
Operating margin	29%	23%	23%	24%	17%	15%	14%	16%	-76%	14%	14%	7%	20%	18%	14%	17%	-86%	19%	20%	23%
Interest expense	23.2	23.2	25.8	18.6	17.6	18.0	18.4	17.3	16.8	15.9	16.3	13.4	12.4	13.1	20.7	25.7	23.0	24.3	23.6	20.3
Pre-tax income	688	320	282	255	390	236	230	230	-934	283	260	145	317	345	274	347	-1,345	300	455	464
Tax rate	19%	26%	22%	34%	23%	30%	28%	27%	n/a	24%	25%	29%	25%	22%	28%	-3%	n/a	27%	26%	23%
Net income	427	198	121	177	188	145	132	131	-742	142	132	55.0	209	171	-12.5	301	-1,186	230	345	294
Net margin	24%	12%	8%	12%	13%	10%	9%	9%	-53%	10%	9%	4%	13%	11%	-1%	18%	-70%	13%	19%	16%
Diluted EPS	$0.91	$0.43	$0.26	$0.39	$0.41	$0.32	$0.29	$0.29	-$1.64	$0.31	$0.29	$0.12	$0.46	$0.38	-$0.03	$0.66	-$2.61	$0.51	$0.76	$0.65
Operating cash flow	-3.7	-375	123	492	464	-98.9	331	354	714	-54.4	489	438	317	-84.6	548	606	456	213	734	475
Capital expenditure	35.6	23.9	33.2	62.7	73.1	38.1	46.7	39.2	40.3	21.0	26.7	28.4	n/a	23.4	17.5	19.8	23.6	14.2	30.5	32.2
Free cash flow	-39.3	-399	89.9	429	390	-137	285	315	674	-75.4	462	410	n/a	-108	530	586	432	198	704	443
Buybacks	2.8	232	1.9	5.7	4.6	27.7	152	3.9	4.4	20.4	2.7	30.2	26.0	43.1	25.5	29.2	25.8	69.2	50.4	75.0
Dividends paid	78.8	77.8	85.6	85.7	85.7	85.7	91.9	90.1	90.2	90.2	93.2	95.3	92.8	92.5	95.2	95.0	94.6	95.3	96.8	98.4
Shares outstanding	461m	455m	455m	455m	455m	458m	449m	450m	450m	450m	450m	449m	448m	448m	446m	445m	444m	443m	442m	440m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 5 May 2026: the filing.