Invesco (Invesco) EBIT

: $-167 Mil (TTM As of Dec. 2023)

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Invesco's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $-917 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-167 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Invesco's annualized ROC % for the quarter that ended in Dec. 2023 was -11.60%. Invesco's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -618.50%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Invesco's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -0.92%.

Invesco EBIT Historical Data

The historical data trend for Invesco's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Invesco Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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1,108.60

1,198.40

2,595.20

1,332.90

-167.40

Invesco Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															408.00	253.70	248.30	247.30	-916.70

Competitive Comparison

For the Asset Management subindustry, Invesco's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Invesco EV-to-EBIT Distribution

For the Asset Management industry and Financial Services sector, Invesco's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Invesco's EV-to-EBIT falls into.

Invesco EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-167 Mil.

Invesco (NYSE:IVZ) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Invesco's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-4303.2 * ( 1 - 28.54% )	/	( (26973.1	+	26050.6)	/ 2 )
=	-3075.06672	/	26511.85
=	-11.60 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	29431.5	-	1700	-	( 1555.1	-	max(0, 1700	-	2458.4	+	1555.1	))
=	26973.1

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	28933.8	-	1254.6	-	( 1931.6	-	max(0, 1254.6	-	2883.2	+	1931.6	))
=	26050.6

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Invesco's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-3666.8	/	( ( (586.2 + max(-796.7, 0))	+	(599.5 + max(-303, 0)) )	/	2 )
=	-3666.8	/	( ( 586.2	+	599.5 )	/	2 )
=	-3666.8	/	592.85
=	-618.50 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(903.3	+	0	+	4.5474735088646E-13)	-	(1700	+	0	+	0)
=	-796.7

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(951.6	+	0	+	0)	-	(1254.6	+	0	+	0)
=	-303

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Invesco's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-167.4	/	18146.361
	=	-0.92 %

Invesco EBIT Related Terms

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Invesco (Invesco) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Invesco Ltd (NYSE:IVZ) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

3IW:Germany 3IW:Germany

Address

1555 Peachtree Street, N.E., Suite 1800, Two Peachtree Pointe, Atlanta, GA, USA, 30309

Website

https://www.invesco.com

Invesco provides investment-management services to retail (63% of managed assets) and institutional (37%) clients. At the end of October 2023, the firm had $1.451 trillion in assets under management spread among its equity (49% of AUM), balanced (4%), fixed-income (21%), alternative investment (12%), and money market (14%) operations. Passive products account for 35% of Invesco's total AUM, including 62% of the company's equity operations and 15% of its fixed-income platform. Invesco's U.S. retail business is one of the 10 largest nonproprietary fund complexes in the country. The firm also has a meaningful presence outside of North America, with 28% of its AUM sourced from Europe, Africa, and the Middle East (13%) and Asia (15%).

Executives

Thomas P Gibbons	director	THE BANK OF NEW YORK MELLON CORPORATION, 225 LIBERTY STREET, NEW YORK NY 10286
Martin L Flanagan	director, officer: President & CEO	1555 PEACHTREE STREET, SUITE 100, ATLANTA GA 30309
Elizabeth S. Johnson	director	CITIZENS FINANCIAL GROUP, INC., 600 WASHINGTON BLVD., STAMFORD CT 06901
Stephanie Butcher	officer: Senior Managing Director	1555 PEACHTREE ST. NE, ATLANTA GA 30309
Tony Wong	officer: Senior Managing Director	1331 SPRING STREET NW, SUITE 2500, ATLANTA GA 30309
Trian Fund Management, L.p.	director	280 PARK AVENUE, 41ST FLOOR, NEW YORK NY 10017
Jeffrey H Kupor	officer: Senior Managing Director	1331 SPRING STREET NW, SUITE 2500, ATLANTA GA 30309
Mm Asset Management Holding Llc	10 percent owner	1295 STATE STREET, SPRINGFIELD MA 01111
Terry Vacheron	officer: Chief Accounting Officer	1555 PEACHTREE ST. NE, SUITE 1800, ATLANTA GA 30309
Massmutual Holding Llc	10 percent owner	1295 STATE STREET, SPRINGFIELD MA 01111
Massachusetts Mutual Life Insurance Co	10 percent owner	1295 STATE STREET, SPRINGFIELD MA 01111
Gregory Mcgreevey	officer: Senior Managing Director	1555 PEACHTREE ST. NE, SUITE 1800, ATLANTA GA 30309
Jennifer Krevitt	officer: SMD & Chief HR Officer	1555 PEACHTREE ST. NE, SUITE 1800, ATLANTA GA 30309
Meadows Colin	officer: Senior Managing Director	1360 PEACHTREE STREET, ATLANTA GA 30309
Christopher C Womack	director