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Invesco Mortgage Capital (IVR) Financials

Invesco Mortgage Capital logo
$7.76 +0.01 (+0.06%)
Closing price 03:59 PM Eastern
Extended Trading
$7.74 -0.02 (-0.32%)
As of 04:37 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Invesco Mortgage Capital

Annual Income Statements for Invesco Mortgage Capital

This table shows Invesco Mortgage Capital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -417 -38 35
Consolidated Net Income / (Loss)		 -403 -16 60
Net Income / (Loss) Continuing Operations		 -403 -16 60
Total Pre-Tax Income 		-403 -16 60
Total Revenue		 -378 4.19 79
Net Interest Income / (Expense)		 143 50 37
Total Interest Income		 195 278 287
Loans and Leases Interest Income		 1.95 0.00 0.00
Investment Securities Interest Income		 193 278 287
Total Interest Expense		 52 228 250
Total Non-Interest Income		 -521 -46 43
Net Realized & Unrealized Capital Gains on Investments		 -521 -46 43
Provision for Credit Losses		 0.00 0.32 0.46
Total Non-Interest Expense		 25 20 19
Other Operating Expenses		 25 20 19
Preferred Stock Dividends Declared		 14 22 25
Basic Earnings per Share		 ($12.21) ($0.85) $0.65
Weighted Average Basic Shares Outstanding		 34.16M 44.07M 53.77M
Diluted Earnings per Share		 ($12.21) ($0.85) $0.65
Weighted Average Diluted Shares Outstanding		 34.16M 44.07M 53.78M
Weighted Average Basic & Diluted Shares Outstanding		 38.71M 48.46M 61.73M

Quarterly Income Statements for Invesco Mortgage Capital

This table shows Invesco Mortgage Capital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -95 31 16 -1.40 -74 22 24 -19 35 -5.47
Consolidated Net Income / (Loss)		 -101 36 21 4.08 -69 27 29 -13 41 3.51
Net Income / (Loss) Continuing Operations		 -101 36 21 4.08 -69 27 29 -13 41 3.51
Total Pre-Tax Income 		-101 36 21 4.08 -69 27 29 -13 41 3.51
Total Revenue		 -96 41 27 9.38 -64 32 34 -8.32 45 8.52
Net Interest Income / (Expense)		 32 26 20 12 9.43 8.30 7.00 8.64 7.51 14
Total Interest Income		 50 58 69 71 75 62 69 68 74 76
Total Interest Expense		 18 32 50 59 66 54 62 59 66 62
Total Non-Interest Income		 -127 16 6.97 -3.03 -73 24 27 -17 38 -5.16
Net Realized & Unrealized Capital Gains on Investments		 -127 16 6.97 -3.03 -73 24 27 -17 38 -5.16
Provision for Credit Losses		 0.00 - 0.00 0.17 0.04 0.11 0.04 0.26 -0.08 0.24
Total Non-Interest Expense		 5.85 5.03 5.07 5.13 4.78 4.75 4.66 4.89 4.69 4.78
Other Operating Expenses		 5.85 5.03 5.07 5.13 4.78 4.75 4.66 4.89 4.69 4.78
Preferred Stock Dividends Declared		 -6.83 5.86 5.86 5.48 5.43 4.92 5.39 5.30 5.45 8.98
Basic Earnings per Share		 ($2.78) $0.90 $0.39 ($0.03) ($1.62) $0.51 $0.49 ($0.38) $0.63 ($0.09)
Weighted Average Basic Shares Outstanding		 35.35M 34.16M 41.65M 44.58M 48.46M 44.07M 48.83M 54.82M 60.73M 53.77M
Diluted Earnings per Share		 ($2.78) $0.90 $0.39 ($0.03) ($1.62) $0.51 $0.49 ($0.38) $0.63 ($0.09)
Weighted Average Diluted Shares Outstanding		 35.35M 34.16M 41.65M 44.58M 48.46M 44.07M 48.83M 54.82M 60.73M 53.78M
Weighted Average Basic & Diluted Shares Outstanding		 35.35M 38.71M 41.65M 44.58M 48.46M 48.46M 48.83M 54.82M 60.73M 61.73M

Annual Cash Flow Statements for Invesco Mortgage Capital

This table details how cash moves in and out of Invesco Mortgage Capital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -298 -80 12
Net Cash From Operating Activities		 196 238 183
Net Cash From Continuing Operating Activities		 196 238 183
Net Income / (Loss) Continuing Operations		 -403 -16 60
Consolidated Net Income / (Loss)		 -403 -16 60
Provision For Loan Losses		 0.00 0.32 0.46
Amortization Expense		 -20 -24 -13
Non-Cash Adjustments to Reconcile Net Income		 607 285 119
Changes in Operating Assets and Liabilities, net		 12 -7.03 16
Net Cash From Investing Activities		 2,424 -537 -497
Net Cash From Continuing Investing Activities		 2,424 -537 -497
Purchase of Investment Securities		 -26,226 -5,993 -2,222
Sale and/or Maturity of Investments		 28,177 5,634 1,713
Other Investing Activities, net		 473 -178 11
Net Cash From Financing Activities		 -2,918 219 327
Net Cash From Continuing Financing Activities		 -2,918 219 327
Issuance of Debt		 66,872 41,085 38,472
Issuance of Common Equity		 82 109 116
Repayment of Debt		 -69,625 -40,861 -38,036
Repurchase of Preferred Equity		 -115 -8.75 -117
Payment of Dividends		 -140 -102 -105
Other Financing Activities, Net		 8.07 -2.75 -2.84
Cash Interest Paid		 52 243 233

Quarterly Cash Flow Statements for Invesco Mortgage Capital

This table details how cash moves in and out of Invesco Mortgage Capital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -66 14 -50 105 26 -161 1.87 -17 -15 42
Net Cash From Operating Activities		 46 69 67 87 52 32 57 33 31 62
Net Cash From Continuing Operating Activities		 46 69 67 87 52 32 57 33 31 62
Net Income / (Loss) Continuing Operations		 -101 36 21 4.08 -69 27 29 -13 41 3.51
Consolidated Net Income / (Loss)		 -101 36 21 4.08 -69 27 29 -13 41 3.51
Provision For Loan Losses		 - - 0.00 0.17 0.04 0.11 0.04 0.26 -0.08 0.24
Amortization Expense		 -6.20 -6.65 -2.39 -2.25 -8.84 -11 -3.04 -3.43 -3.07 -3.20
Non-Cash Adjustments to Reconcile Net Income		 157 26 48 66 145 25 18 60 3.06 37
Changes in Operating Assets and Liabilities, net		 -3.81 13 0.57 18 -16 -10 13 -11 -9.81 24
Net Cash From Investing Activities		 -636 -422 -697 -133 -70 363 37 96 -1,032 401
Net Cash From Continuing Investing Activities		 -636 -422 -697 -133 -70 363 37 96 -1,032 401
Purchase of Investment Securities		 -6,279 -5,002 -1,450 -943 -2,178 -1,422 -390 -234 -1,288 -309
Sale and/or Maturity of Investments		 5,577 4,603 845 782 2,023 1,984 379 354 428 553
Other Investing Activities, net		 66 -22 -92 29 85 -199 49 -24 -172 157
Net Cash From Financing Activities		 524 367 580 151 43 -556 -93 -146 986 -421
Net Cash From Continuing Financing Activities		 524 367 580 151 43 -556 -93 -146 986 -421
Issuance of Debt		 15,737 15,186 9,319 7,838 11,781 12,148 8,763 9,186 13,609 6,914
Issuance of Common Equity		 39 43 36 31 42 - 3.32 16 89 8.40
Repayment of Debt		 -15,112 -14,839 -8,739 -7,693 -11,753 -12,676 -8,827 -9,320 -12,684 -7,205
Repurchase of Preferred Equity		 -101 - 0.00 -1.58 -2.72 -4.44 -4.38 -3.42 -1.58 -108
Payment of Dividends		 -36 -29 -31 -22 -24 -25 -25 -25 -26 -30
Other Financing Activities, Net		 -3.74 4.89 -4.82 -0.24 -0.16 2.48 -2.34 -0.14 0.23 -0.59
Cash Interest Paid		 21 20 52 44 81 66 50 66 76 40

Annual Balance Sheets for Invesco Mortgage Capital

This table presents Invesco Mortgage Capital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 5,097 5,284 5,688
Cash and Due from Banks		 176 77 73
Restricted Cash		 103 122 137
Trading Account Securities		 4,793 5,057 5,451
Loans and Leases, Net of Allowance		 0.00 0.00 0.00
Customer and Other Receivables		 1.58 0.00 0.58
Other Assets		 24 28 26
Total Liabilities & Shareholders' Equity		 5,097 5,284 5,688
Total Liabilities		 4,293 4,502 4,957
Short-Term Debt		 4,235 4,459 4,895
Accrued Interest Payable		 21 16 33
Other Short-Term Payables		 - 19 25
Long-Term Debt		 4.89 2.48 0.00
Other Long-Term Liabilities		 33 5.20 5.32
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 804 783 731
Total Preferred & Common Equity		 804 783 731
Preferred Stock		 299 288 174
Total Common Equity		 505 494 556
Common Stock		 3,902 4,012 4,128
Retained Earnings		 -3,407 -3,518 -3,572
Accumulated Other Comprehensive Income / (Loss)		 11 0.70 0.17

Quarterly Balance Sheets for Invesco Mortgage Capital

This table presents Invesco Mortgage Capital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 4,686 5,707 5,866 5,831 5,231 5,067 6,082
Cash and Due from Banks		 164 102 209 174 60 59 48
Restricted Cash		 101 127 125 186 141 125 120
Trading Account Securities		 4,368 5,451 5,507 5,444 5,007 4,846 5,886
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 48 25 25 28 24 36 28
Total Liabilities & Shareholders' Equity		 4,686 5,707 5,866 5,831 5,231 5,067 6,082
Total Liabilities		 3,924 4,873 5,025 5,046 4,446 4,307 5,225
Short-Term Debt		 3,891 4,827 4,962 4,995 4,394 4,262 5,185
Accrued Interest Payable		 3.77 22 40 27 27 21 11
Other Short-Term Payables		 25 19 20 21 21 22 26
Long-Term Debt		 0.01 1.57 0.00 0.00 0.41 0.00 0.34
Other Long-Term Liabilities		 4.92 3.74 3.55 3.70 3.76 3.22 3.42
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 761 834 841 785 786 759 857
Total Preferred & Common Equity		 761 834 841 785 786 759 857
Preferred Stock		 299 299 297 294 284 280 279
Total Common Equity		 463 535 544 491 502 479 578
Common Stock		 3,859 3,938 3,969 4,011 4,015 4,031 4,120
Retained Earnings		 -3,413 -3,408 -3,428 -3,521 -3,514 -3,553 -3,542
Accumulated Other Comprehensive Income / (Loss)		 17 5.90 2.74 0.88 0.54 0.65 0.36

Annual Metrics And Ratios for Invesco Mortgage Capital

This table displays calculated financial ratios and metrics derived from Invesco Mortgage Capital's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 -503.82% 101.11% 1,793.56%
EBITDA Growth		 -471.92% 90.53% 217.68%
EBIT Growth		 -347.69% 96.06% 477.59%
NOPAT Growth		 -347.69% 96.06% 639.41%
Net Income Growth		 -347.69% 96.06% 477.59%
EPS Growth		 -153.32% 93.04% 176.47%
Operating Cash Flow Growth		 28.75% 21.27% -22.97%
Free Cash Flow Firm Growth		 2,235.97% -106.86% -52.31%
Invested Capital Growth		 -39.99% 3.97% 7.27%
Revenue Q/Q Growth		 20.77% -69.25% -22.87%
EBITDA Q/Q Growth		 17.83% -51.14% -25.52%
EBIT Q/Q Growth		 20.19% -148.38% -28.35%
NOPAT Q/Q Growth		 20.06% -140.40% -28.35%
Net Income Q/Q Growth		 20.06% -140.40% -28.35%
EPS Q/Q Growth		 17.11% -41.67% -36.89%
Operating Cash Flow Q/Q Growth		 16.29% -13.66% 19.73%
Free Cash Flow Firm Q/Q Growth		 -28.82% 81.35% -79.68%
Invested Capital Q/Q Growth		 8.42% -9.27% -6.90%
Profitability Metrics		 - - -
EBITDA Margin		 0.00% -956.22% 59.42%
EBIT Margin		 0.00% -378.41% 75.46%
Profit (Net Income) Margin		 0.00% -378.41% 75.46%
Tax Burden Percent		 100.00% 100.00% 100.00%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -0.22% 1.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -0.33% 1.10%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -1.78% 6.81%
Return on Equity (ROE)		 -36.53% -2.00% 7.91%
Cash Return on Invested Capital (CROIC)		 45.79% -4.10% -5.92%
Operating Return on Assets (OROA)		 0.00% -0.31% 1.09%
Return on Assets (ROA)		 0.00% -0.31% 1.09%
Return on Common Equity (ROCE)		 -24.50% -1.26% 5.49%
Return on Equity Simple (ROE_SIMPLE)		 -50.11% -2.03% 8.19%
Net Operating Profit after Tax (NOPAT)		 -282 -11 60
NOPAT Margin		 0.00% -264.88% 75.46%
Net Nonoperating Expense Percent (NNEP)		 2.15% 0.11% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 470.77% 23.97%
Earnings before Interest and Taxes (EBIT)		 -403 -16 60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -423 -40 47
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.60 0.72 0.88
Price to Tangible Book Value (P/TBV)		 0.60 0.72 0.88
Price to Revenue (P/Rev)		 0.00 85.38 6.16
Price to Earnings (P/E)		 0.00 0.00 14.06
Dividend Yield		 38.88% 30.47% 19.88%
Earnings Yield		 0.00% 0.00% 7.11%
Enterprise Value to Invested Capital (EV/IC)		 0.90 0.94 0.95
Enterprise Value to Revenue (EV/Rev)		 0.00 1,171.28 67.38
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 113.38
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 89.29
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 89.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.28 20.64 29.19
Enterprise Value to Free Cash Flow (EV/FCFF)		 1.48 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 5.27 5.70 6.70
Long-Term Debt to Equity		 0.01 0.00 0.00
Financial Leverage		 5.10 5.48 6.18
Leverage Ratio		 6.14 6.54 7.25
Compound Leverage Factor		 6.14 6.54 7.25
Debt to Total Capital		 84.06% 85.07% 87.01%
Short-Term Debt to Total Capital		 83.96% 85.03% 87.01%
Long-Term Debt to Total Capital		 0.10% 0.05% 0.00%
Preferred Equity to Total Capital		 5.92% 5.50% 3.10%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 10.02% 9.42% 9.89%
Debt to EBITDA		 -10.02 -111.32 103.79
Net Debt to EBITDA		 -9.36 -106.36 99.32
Long-Term Debt to EBITDA		 -0.01 -0.06 0.00
Debt to NOPAT		 -15.03 -401.86 81.74
Net Debt to NOPAT		 -14.04 -383.97 78.22
Long-Term Debt to NOPAT		 -0.02 -0.22 0.00
Noncontrolling Interest Sharing Ratio		 32.94% 37.01% 30.58%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 3,079 -211 -322
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 59.71 -0.93 -1.29
Operating Cash Flow to Interest Expense		 3.80 1.04 0.73
Operating Cash Flow Less CapEx to Interest Expense		 3.80 1.04 0.73
Efficiency Ratios		 - - -
Asset Turnover		 0.00 0.00 0.01
Fixed Asset Turnover		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 5,044 5,244 5,625
Invested Capital Turnover		 0.00 0.00 0.01
Increase / (Decrease) in Invested Capital		 -3,361 200 381
Enterprise Value (EV)		 4,564 4,909 5,347
Market Capitalization		 305 358 489
Book Value per Share		 $14.30 $10.20 $9.16
Tangible Book Value per Share		 $14.30 $10.20 $9.16
Total Capital		 5,044 5,244 5,625
Total Debt		 4,240 4,461 4,895
Total Long-Term Debt		 4.89 2.48 0.00
Net Debt		 3,961 4,263 4,684
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 121 4.76 0.00
Net Nonoperating Obligations (NNO)		 4,240 4,461 4,895
Total Depreciation and Amortization (D&A)		 -20 -24 -13
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($12.21) ($0.85) $0.65
Adjusted Weighted Average Basic Shares Outstanding		 34.16M 44.07M 53.77M
Adjusted Diluted Earnings per Share		 ($12.21) ($0.85) $0.65
Adjusted Weighted Average Diluted Shares Outstanding		 34.16M 44.07M 53.78M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 38.71M 48.46M 61.73M
Normalized Net Operating Profit after Tax (NOPAT)		 -282 -11 42
Normalized NOPAT Margin		 0.00% -264.88% 52.82%
Pre Tax Income Margin		 0.00% -378.41% 75.46%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 -7.81 -0.07 0.24
NOPAT to Interest Expense		 -5.47 -0.05 0.24
EBIT Less CapEx to Interest Expense		 -7.81 -0.07 0.24
NOPAT Less CapEx to Interest Expense		 -5.47 -0.05 0.24
Payout Ratios		 - - -
Dividend Payout Ratio		 -34.82% -644.37% 176.13%
Augmented Payout Ratio		 -34.82% -644.37% 176.13%

Quarterly Metrics And Ratios for Invesco Mortgage Capital

This table displays calculated financial ratios and metrics derived from Invesco Mortgage Capital's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -246.47% 172.21% 112.00% 109.16% 33.27% -22.74% 27.47% -188.67% 171.08% -73.41%
EBITDA Growth		 -278.63% 148.09% 108.34% 101.57% 28.05% -44.77% 36.80% -1,022.00% 148.62% -98.12%
EBIT Growth		 -275.85% 155.69% 109.40% 103.72% 32.37% -25.40% 35.68% -430.21% 159.36% -87.11%
NOPAT Growth		 -223.09% 180.57% 113.42% 105.32% 32.37% -25.40% 35.68% -331.15% 184.80% -87.11%
Net Income Growth		 -275.85% 156.40% 109.40% 103.72% 32.37% -25.40% 35.68% -430.21% 159.36% -87.11%
EPS Growth		 -267.47% 133.96% 105.43% 99.15% 41.73% -43.33% 25.64% -1,166.67% 138.89% -117.65%
Operating Cash Flow Growth		 24.41% 65.64% 67.34% 113.03% 13.84% -54.30% -14.39% -61.91% -41.13% 95.30%
Free Cash Flow Firm Growth		 263.50% 2,171.74% -44.48% -131.30% -125.52% -105.09% -63.49% 150.35% 81.13% -118.68%
Invested Capital Growth		 -50.14% -39.99% -19.60% 36.06% 24.24% 3.97% -8.53% -13.47% 4.54% 7.27%
Revenue Q/Q Growth		 6.66% 143.42% -36.06% -64.65% -780.05% 150.27% 5.49% -124.59% 645.20% -81.20%
EBITDA Q/Q Growth		 7.75% 127.70% -36.04% -90.39% -4,327.07% 121.26% 58.45% -164.75% 322.92% -99.18%
EBIT Q/Q Growth		 7.40% 135.95% -41.13% -81.00% -1,782.17% 139.65% 7.07% -146.24% 402.39% -91.39%
NOPAT Q/Q Growth		 7.40% 151.35% -41.13% -81.00% -1,277.52% 156.64% 7.07% -132.37% 531.99% -91.39%
Net Income Q/Q Growth		 7.40% 135.95% -41.13% -81.00% -1,782.17% 139.65% 7.07% -146.24% 402.39% -91.39%
EPS Q/Q Growth		 21.02% 132.37% -56.67% -107.69% -5,300.00% 131.48% -3.92% -177.55% 265.79% -114.29%
Operating Cash Flow Q/Q Growth		 13.19% 50.63% -3.08% 28.91% -39.51% -39.52% 81.55% -42.65% -6.51% 100.64%
Free Cash Flow Firm Q/Q Growth		 -5.99% -26.26% -58.73% -209.40% 23.36% 85.30% 396.16% 50.86% -128.73% -70.38%
Invested Capital Q/Q Growth		 9.08% 8.42% 12.27% 2.48% -0.40% -9.27% -1.22% -3.06% 20.33% -6.90%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 0.00% 71.84% 71.87% 19.54% 0.00% 51.36% 77.14% 0.00% 83.06% 3.63%
EBIT Margin		 0.00% 87.87% 80.90% 43.48% 0.00% 84.85% 86.11% 0.00% 89.82% 41.14%
Profit (Net Income) Margin		 0.00% 87.87% 80.90% 43.48% 0.00% 84.85% 86.11% 0.00% 89.82% 41.14%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.18% 0.00% 1.56% 0.60%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.18% 0.00% 1.56% 0.60%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.38% 1.04% 0.00% 9.69% 3.71%
Return on Equity (ROE)		 -45.46% -36.53% -15.60% -4.38% 0.00% 0.45% 1.22% -3.22% 11.26% 4.31%
Cash Return on Invested Capital (CROIC)		 61.87% 45.79% 20.05% -31.10% -21.70% -4.10% 8.80% 14.11% -3.03% -5.92%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.18% 0.00% 1.55% 0.60%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.18% 0.00% 1.55% 0.60%
Return on Common Equity (ROCE)		 -30.56% -24.50% -9.82% -2.66% 0.00% 0.28% 0.78% -2.06% 7.33% 2.99%
Return on Equity Simple (ROE_SIMPLE)		 -66.21% 0.00% -18.35% -4.69% -0.84% 0.00% -1.04% -3.39% 9.75% 0.00%
Net Operating Profit after Tax (NOPAT)		 -71 36 21 4.08 -48 27 29 -9.43 41 3.51
NOPAT Margin		 0.00% 87.87% 80.90% 43.48% 0.00% 84.85% 86.11% 0.00% 89.82% 41.14%
Net Nonoperating Expense Percent (NNEP)		 0.52% 0.00% 0.00% 0.00% 0.46% 0.00% 0.00% 0.09% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 12.13% 19.10% 54.71% 0.00% 14.82% 13.77% 0.00% 10.35% 56.10%
Earnings before Interest and Taxes (EBIT)		 -101 36 21 4.08 -69 27 29 -13 41 3.51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -108 30 19 1.83 -77 16 26 -17 38 0.31
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.56 0.60 0.63 0.74 0.73 0.72 0.86 0.91 0.85 0.88
Price to Tangible Book Value (P/TBV)		 0.56 0.60 0.63 0.74 0.73 0.72 0.86 0.91 0.85 0.88
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 26.27 85.38 37.45 0.00 4.78 6.16
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.87 14.06
Dividend Yield		 46.22% 38.88% 35.74% 31.16% 37.36% 30.47% 25.36% 17.84% 17.83% 19.88%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.71% 7.11%
Enterprise Value to Invested Capital (EV/IC)		 0.90 0.90 0.92 0.92 0.91 0.94 0.95 0.96 0.96 0.95
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 387.89 1,171.28 427.57 0.00 56.25 67.38
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 91.41 113.38
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69.25 89.29
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69.25 89.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.80 23.28 23.46 19.80 19.20 20.64 21.51 27.49 37.83 29.19
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.97 1.48 4.11 0.00 0.00 0.00 10.29 6.28 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 5.11 5.27 5.79 5.90 6.36 5.70 5.59 5.61 6.05 6.70
Long-Term Debt to Equity		 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 5.31 5.10 5.48 4.59 5.75 5.48 5.69 5.76 6.20 6.18
Leverage Ratio		 6.34 6.14 6.52 5.65 6.80 6.54 6.75 6.83 7.26 7.25
Compound Leverage Factor		 6.34 6.14 6.52 5.65 6.80 6.54 6.75 6.83 7.26 7.25
Debt to Total Capital		 83.64% 84.06% 85.27% 85.51% 86.42% 85.07% 84.83% 84.88% 85.82% 87.01%
Short-Term Debt to Total Capital		 83.64% 83.96% 85.24% 85.51% 86.42% 85.03% 84.83% 84.88% 85.81% 87.01%
Long-Term Debt to Total Capital		 0.00% 0.10% 0.03% 0.00% 0.00% 0.05% 0.01% 0.00% 0.01% 0.00%
Preferred Equity to Total Capital		 6.42% 5.92% 5.28% 5.11% 5.08% 5.50% 5.48% 5.58% 4.61% 3.10%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 9.94% 10.02% 9.46% 9.38% 8.50% 9.42% 9.68% 9.54% 9.57% 9.89%
Debt to EBITDA		 -7.56 -10.02 -27.53 -87.45 -188.37 -111.32 -132.93 -82.31 81.90 103.79
Net Debt to EBITDA		 -7.04 -9.36 -26.22 -81.57 -174.80 -106.36 -126.87 -78.77 79.24 99.32
Long-Term Debt to EBITDA		 0.00 -0.01 -0.01 0.00 0.00 -0.06 -0.01 0.00 0.01 0.00
Debt to NOPAT		 -11.03 -15.03 -45.07 -179.80 -1,081.58 -401.86 -765.56 -236.50 62.04 81.74
Net Debt to NOPAT		 -10.28 -14.04 -42.94 -167.70 -1,003.68 -383.97 -730.63 -226.33 60.03 78.22
Long-Term Debt to NOPAT		 0.00 -0.02 -0.01 0.00 0.00 -0.22 -0.07 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 32.77% 32.94% 37.04% 39.36% 0.00% 37.01% 35.97% 36.06% 34.86% 30.58%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 4,607 3,397 1,402 -1,534 -1,175 -173 512 772 -222 -378
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 255.83 105.50 28.20 -25.99 -17.89 -3.21 8.31 13.00 -3.35 -6.05
Operating Cash Flow to Interest Expense		 2.55 2.15 1.35 1.47 0.80 0.59 0.93 0.56 0.46 0.99
Operating Cash Flow Less CapEx to Interest Expense		 2.55 2.15 1.35 1.47 0.80 0.59 0.93 0.56 0.46 0.99
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.01
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 4,652 5,044 5,663 5,803 5,780 5,244 5,180 5,021 6,042 5,625
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.01
Increase / (Decrease) in Invested Capital		 -4,678 -3,361 -1,381 1,538 1,127 200 -483 -782 263 381
Enterprise Value (EV)		 4,183 4,564 5,234 5,326 5,287 4,909 4,908 4,797 5,787 5,347
Market Capitalization		 257 305 336 401 358 358 430 438 492 489
Book Value per Share		 $14.00 $14.30 $13.83 $13.07 $11.02 $10.20 $10.27 $9.81 $10.55 $9.16
Tangible Book Value per Share		 $14.00 $14.30 $13.83 $13.07 $11.02 $10.20 $10.27 $9.81 $10.55 $9.16
Total Capital		 4,652 5,044 5,663 5,803 5,780 5,244 5,180 5,021 6,042 5,625
Total Debt		 3,891 4,240 4,829 4,962 4,995 4,461 4,394 4,262 5,185 4,895
Total Long-Term Debt		 0.01 4.89 1.57 0.00 0.00 2.48 0.41 0.00 0.34 0.00
Net Debt		 3,627 3,961 4,600 4,628 4,635 4,263 4,194 4,079 5,017 4,684
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 30 0.00 0.00 0.00 21 0.00 0.00 4.04 0.00 0.00
Net Nonoperating Obligations (NNO)		 3,891 4,240 4,829 4,962 4,995 4,461 4,394 4,262 5,185 4,895
Total Depreciation and Amortization (D&A)		 -6.20 -6.65 -2.39 -2.25 -8.84 -11 -3.04 -3.43 -3.07 -3.20
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.78) $0.90 $0.39 ($0.03) ($1.62) $0.51 $0.49 ($0.38) $0.63 ($0.09)
Adjusted Weighted Average Basic Shares Outstanding		 35.35M 34.16M 41.65M 44.58M 48.46M 44.07M 48.83M 54.82M 60.73M 53.77M
Adjusted Diluted Earnings per Share		 ($2.78) $0.90 $0.39 ($0.03) ($1.62) $0.51 $0.49 ($0.38) $0.63 ($0.09)
Adjusted Weighted Average Diluted Shares Outstanding		 35.35M 34.16M 41.65M 44.58M 48.46M 44.07M 48.83M 54.82M 60.73M 53.78M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.90 $0.00 $0.00 $0.00 $0.51 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 35.35M 38.71M 41.65M 44.58M 48.46M 48.46M 48.83M 54.82M 60.73M 61.73M
Normalized Net Operating Profit after Tax (NOPAT)		 -71 26 15 2.85 -48 19 20 -9.43 29 2.45
Normalized NOPAT Margin		 0.00% 61.51% 56.63% 30.44% 0.00% 59.39% 60.28% 0.00% 62.88% 28.80%
Pre Tax Income Margin		 0.00% 87.87% 80.90% 43.48% 0.00% 84.85% 86.11% 0.00% 89.82% 41.14%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -5.63 1.13 0.43 0.07 -1.04 0.51 0.47 -0.23 0.61 0.06
NOPAT to Interest Expense		 -3.94 1.13 0.43 0.07 -0.73 0.51 0.47 -0.16 0.61 0.06
EBIT Less CapEx to Interest Expense		 -5.63 1.13 0.43 0.07 -1.04 0.51 0.47 -0.23 0.61 0.06
NOPAT Less CapEx to Interest Expense		 -3.94 1.13 0.43 0.07 -0.73 0.51 0.47 -0.16 0.61 0.06
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 -29.35% -34.82% -87.06% -299.16% -1,606.31% -644.37% -1,172.39% -383.29% 120.61% 176.13%
Augmented Payout Ratio		 -29.35% -34.82% -87.06% -299.16% -1,606.31% -644.37% -1,172.39% -383.29% 120.61% 176.13%

Key Financial Trends

Invesco Mortgage Capital (NYSE: IVR) has exhibited notable financial fluctuations over the past four years, with distinct trends emerging in its income, cash flow, and balance sheet metrics.

  • Strong Interest Income Growth: Total interest income increased significantly from $58.1 million in Q4 2022 to $76.1 million in Q4 2024, showing solid revenue generation from core mortgage-related assets.
  • Net Interest Income Improvement: Net interest income climbed from $25.9 million in Q4 2022 to $13.7 million in Q4 2024, although with some variability. The difference can be attributed to changing interest expenses and market conditions.
  • Operating Cash Flow Strength: Net cash from continuing operating activities has been positive each quarter, with $61.9 million reported in Q4 2024, indicating healthy cash generation from core operations despite earnings volatility.
  • Active Management of Investment Securities: The company significantly increased the sale and maturity of investments in recent quarters, such as $553 million in Q4 2024 and over $4.6 billion in Q4 2023, likely seeking to optimize portfolio returns and liquidity.
  • Reduced Debt Level Fluctuations: Total liabilities show modest changes relative to assets, suggesting efforts to maintain stable leverage levels. Short-term debt remains the predominant liability but is managed actively with issuances and repayments.
  • Volatile Non-Interest Income: Net realized and unrealized capital gains and losses have swung widely from gains of $23.8 million in Q4 2023 to losses of $5.2 million in Q4 2024, reflecting exposure to market fluctuations impacting earnings predictability.
  • Preferred Dividends Impact: Preferred stock dividends have remained relatively consistent around $5-9 million per quarter, which reduces net income attributable to common shareholders and is a recurring cash outflow.
  • Earnings Volatility: Net income attributable to common shareholders has been highly variable, swinging from a $35 million loss in Q4 2024 to a $35 million gain in Q3 2024. Negative earnings in recent quarters may concern investors looking for stable profitability.
  • Diluted Earnings Per Share Fluctuations: EPS has swung from positive $0.63 in Q3 2024 to negative $0.09 in Q4 2024, highlighting inconsistent profitability and potential dilution effects from share issuance.
  • Significant Debt Issuance and Repayment Activity: The company issued long-term and short-term debt totaling billions across quarters but also repaid large sums, generating cash flow headwinds. For example, net financing activities were negative $420 million in Q4 2024, reflecting debt paydown pressures.

Overall, Invesco Mortgage Capital is managing its mortgage portfolio actively, with strong interest income but facing challenges in stabilizing non-interest income and earnings volatility. Investors should note its consistent cash flow generation, balanced by wide swings in net income and EPS, and monitor the company’s handling of debt and capital structure as it navigates market conditions.

08/28/25 04:42 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Invesco Mortgage Capital's Financials

When does Invesco Mortgage Capital's financial year end?

According to the most recent income statement we have on file, Invesco Mortgage Capital's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Invesco Mortgage Capital's net income changed over the last 2 years?

Invesco Mortgage Capital's net income appears to be on a downward trend, with a most recent value of $59.88 million in 2024, falling from -$402.92 million in 2022. The previous period was -$15.86 million in 2023. Find out what analysts predict for Invesco Mortgage Capital in the coming months.

How has Invesco Mortgage Capital's revenue changed over the last 2 years?

Over the last 2 years, Invesco Mortgage Capital's total revenue changed from -$377.60 million in 2022 to $79.36 million in 2024, a change of -121.0%.

How much debt does Invesco Mortgage Capital have?

Invesco Mortgage Capital's total liabilities were at $4.96 billion at the end of 2024, a 10.1% increase from 2023, and a 15.5% increase since 2022.

How much cash does Invesco Mortgage Capital have?

In the past 2 years, Invesco Mortgage Capital's cash and equivalents has ranged from $73.40 million in 2024 to $175.54 million in 2022, and is currently $73.40 million as of their latest financial filing in 2024.

How has Invesco Mortgage Capital's book value per share changed over the last 2 years?

Over the last 2 years, Invesco Mortgage Capital's book value per share changed from 14.30 in 2022 to 9.16 in 2024, a change of -35.9%.


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This page (NYSE:IVR) was last updated on 8/28/2025 by MarketBeat.com Staff
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