Invesco (MIL:1IVZ) Cyclically Adjusted PS Ratio: 1.86 (As of Jul. 31, 2026) — 25% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MIL:1IVZ Invesco Ltd MIL:1IVZ
48 GF Score
Price €26.20
GF Value €17.70
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Invesco Cyclically Adjusted PS Ratio?

Invesco MIL:1IVZ 48 Cyclically Adjusted PS Ratio is 1.86 as of Jul. 31, 2026, which is 25% above its 10-year median of 1.49. GuruFocus rates MIL:1IVZ with a GF Score™ of 48/100 and a GF Value™ of €17.70 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 907 Asset Management companies, Invesco ranks better than 83.68% on this metric.

As of today (2026-07-31), Invesco's current share price is €26.20. Invesco's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €14.09. Invesco's Cyclically Adjusted PS Ratio for today is 1.86.

The historical rank and industry rank for Invesco's Cyclically Adjusted PS Ratio or its related term are showing as below:

MIL:1IVZ' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.55   Med: 1.49   Max: 3.63
Current: 1.82

During the past years, Invesco's highest Cyclically Adjusted PS Ratio was 3.63. The lowest was 0.55. And the median was 1.49.

MIL:1IVZ's Cyclically Adjusted PS Ratio is ranked better than
83.68% of 907 companies
in the Asset Management industry
Industry Median: 7.57 vs MIL:1IVZ: 1.82

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Invesco's adjusted revenue per share data for the three months ended in Jun. 2026 was €3.487. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €14.09 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Invesco  (MIL:1IVZ) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Invesco Cyclically Adjusted PS Ratio Related Terms


Invesco Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Invesco's Cyclically Adjusted PS Ratio 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.

Invesco Cyclically Adjusted PS Ratio Chart

Invesco Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.65 1.20 1.16 1.13 1.68

Invesco Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.01 1.46 1.68 1.52 1.64

MIL:1IVZ vs EQH, ARCC, PS: Cyclically Adjusted PS Ratio Comparison

For the Asset Management subindustry, Invesco's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio 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 Cyclically Adjusted PS Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Invesco's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Invesco's Cyclically Adjusted PS Ratio falls into.


MIL:1IVZ
48GF Score
Invesco Ltd MIL:1IVZ
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Invesco Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Invesco's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=26.20/14.09
=1.86

* 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.

Invesco's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Invesco's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=3.487/333.9520*333.9520
=3.487

Current CPI (Jun. 2026) = 333.9520.

Invesco Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.673 241.428 3.697
201612 2.856 241.432 3.950
201703 2.817 243.801 3.859
201706 2.806 244.955 3.825
201709 2.734 246.819 3.699
201712 2.830 246.524 3.834
201803 2.670 249.554 3.573
201806 2.813 251.989 3.728
201809 2.775 252.439 3.671
201812 2.693 251.233 3.580
201903 2.675 254.202 3.514
201906 2.937 256.143 3.829
201909 3.346 256.759 4.352
201912 3.423 256.974 4.448
202003 3.153 258.115 4.079
202006 2.721 257.797 3.525
202009 2.743 260.280 3.519
202012 2.888 260.474 3.703
202103 3.000 264.877 3.782
202106 3.065 271.696 3.767
202109 3.192 274.310 3.886
202112 3.358 278.802 4.022
202203 3.200 287.504 3.717
202206 3.151 296.311 3.551
202209 3.178 296.808 3.576
202212 2.975 296.797 3.347
202303 2.886 301.836 3.193
202306 2.903 305.109 3.177
202309 2.982 307.789 3.235
202312 2.860 306.746 3.114
202403 2.993 312.332 3.200
202406 3.021 314.175 3.211
202409 2.997 315.301 3.174
202412 3.328 315.605 3.521
202503 3.116 319.799 3.254
202506 2.887 322.561 2.989
202509 3.074 324.800 3.161
202512 3.174 324.054 3.271
202603 3.326 330.213 3.364
202606 3.487 333.952 3.487

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 1.86 mean?
Invesco (MIL:1IVZ) has a Cyclically Adjusted PS Ratio of 1.86 as of Jul. 31, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Invesco and its competitors. This is 25% above median its historical median of 1.49. Over the past decade, Invesco's Cyclically Adjusted PS Ratio has ranged from 0.55 to 3.63. According to the industry distribution chart, Invesco ranks #148 out of 907 companies in the Asset Management industry, placing it in the top 16.3%.
Is Invesco's Cyclically Adjusted PS Ratio too high?
Invesco's current Cyclically Adjusted PS Ratio of 1.86 is 25% above median its 10-year median of 1.49. Over the past 10 years, this metric has ranged from a low of 0.55 to a high of 3.63. The Asset Management industry median Cyclically Adjusted PS Ratio is 7.57. Invesco's value of 1.86 is 75.4% below this industry median. Based on the distribution chart, Invesco ranks #148 out of 907 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Invesco has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Invesco's Cyclically Adjusted PS Ratio compare to EQH and ARCC?
According to the Asset Management industry distribution chart, Invesco ranks #148 out of 907 companies for Cyclically Adjusted PS Ratio. This places Invesco in the top 16% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 7.57. Invesco's value of 1.86 is 75.4% below this benchmark. Historically, Invesco's own Cyclically Adjusted PS Ratio has ranged from 0.55 to 3.63 over the past decade. While the company's 10-year median is 1.49 vs. the industry median of 7.57, Invesco has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for an Asset Management company?
The median Cyclically Adjusted PS Ratio among Asset Management companies is 7.57, based on 907 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Invesco's current Cyclically Adjusted PS Ratio of 1.86 is 75.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Invesco and its competitors. For the Asset Management industry, the median Cyclically Adjusted PS Ratio is 7.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Invesco's current Cyclically Adjusted PS Ratio is 1.86, which is 25% above median its own 10-year median of 1.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Invesco stock overvalued right now?
Based on GuruFocus' analysis, Invesco (MIL:1IVZ) is currently considered Significantly Overvalued. The stock's GF Value™ is €17.70, compared to a current price of €26.20 — trading 48% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.86, which is 25% above median its 10-year median of 1.49 and 75.4% below the Asset Management industry median of 7.57. Invesco's overall GF Score™ is 48/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Invesco (MIL:1IVZ), the current Cyclically Adjusted PS Ratio is 1.86 as of Jul. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Invesco (MIL:1IVZ) Overvalued in 2026?

Based on GuruFocus' analysis, Invesco stock appears to be overvalued. The current stock price of €26.20 is trading 48% above its estimated GF Value™ of €17.70. GuruFocus considers Invesco to be Significantly Overvalued.

Key valuation signals for MIL:1IVZ:

  • Cyclically Adjusted PS Ratio: 1.86 (25% above median its 10-year median of 1.49)
  • GF Value™: €17.70 vs. price of €26.20 (48% above fair value)
  • GF Score™: 48/100 with 8 warning signs
  • Industry Position: 75.4% below the Asset Management median (#148 of 907)

No single metric tells the full story. See the MIL:1IVZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Invesco Business Description

Address 1331 Spring Street NW, Suite 2500, Atlanta, GA, USA, 30309
Invesco provides investment management services to retail (69% of managed assets) and institutional (31%) clients. At the end of May 2026, the firm had $2.454 trillion in assets under management spread among its equity (61% of AUM), balanced (3%), fixed-income (21%), alternative investment (6%), and money market (9%) operations. Passive products account for close to half of Invesco's total AUM. Invesco's US 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 32% of its AUM sourced from Europe, Africa, and the Middle East (17%) and Asia (15%).
48GF Score

Get the complete analysis for MIL:1IVZ

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€26.20
Price
€17.70
GF Value