Invesco Mortgage Capital Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Invesco Mortgage Capital Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
General and administrative	7.27	7.19	7.07	8	10.9	8.15	8.42	7.44	7.15	7.27
Operating expenses	41.8	44.7	47.8	46.2	40.2	29.2	25.3	19.7	19	18.6
Interest expense	157	197	339	472	82.3	-11.3	51.6	228
Net income to minority interests	3.29	4.45	0.25	0	0
Net income	254	349	-70.8	364	-1,674	-90	-403	-15.9	59.9	101
EPS, basic	20.71	28.71	-10.30	24.21	-98.93	-4.82	-12.21	-0.85	0.65	1.32
EPS, diluted	19.81	27.51	-10.30	24.21	-98.93	-4.82	-12.21	-0.85	0.65	1.32
Shares, basic (weighted)	11.2	11.2	11.2	13.2	17.4	27.5	34.2	44.1	53.8	66.9
Shares, diluted (weighted)	13	12.3	11.2	13.2	17.4	27.5	34.2	44.1	53.8	66.9
Dividend per share		16.30	16.81	18.51	0.65

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	162	88.4	136	173	148	357	176	77	73.4	56
Total assets	15,706	18,657	17,814	22,347	8,633	8,444	5,097	5,284	5,688	6,476
Total liabilities	13,436	16,000	15,527	19,415	7,266	7,042	4,293	4,502	4,957	5,678
Total debt	13,211	15,874	15,252	19,182
Paid-in capital	2,380	2,384	2,384	2,893	3,388	3,819	3,902	4,011	4,128	4,210
Retained earnings	-718	-579	-882	-814	-2,644	-2,883	-3,407	-3,518	-3,572	-3,579
Other comprehensive income	294	261	221	289	58.6	37.3	10.8	0.7	0.17	0
Shareholders' equity	2,242	2,630	2,287	2,932	1,367	1,402	804	783	731	798
Minority interests	28.6	26.4	0
Total equity	2,270	2,657	2,287	2,932	1,367	1,402	804	783	731	798
Total liabilities and equity	15,706	18,657	17,814	22,347	8,633	8,444	5,097	5,284	5,688	6,476
Shares outstanding	11.2	11.2	11.2	14.4	203	33	38.7	48.5	61.7	71.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	258	353	-70.5	364	-1,674	-90	-403	-15.9	59.9	101
Stock-based compensation	0.44	0.55
Cash from operations	296	291	304	343	170	152	196	238	183	157
Purchases of investments	-2,661	-6,278	-6,218	-9,244	-13,613	-17,133	-25,724	-5,934	-2,222	-2,666
Sales and maturities of investments	2,581	626	4,750	3,312	0	0	468	5,237	1,313	15.1
Cash from investing	980	-3,088	622	-4,324	11,555	121	2,424	-537	-497	-893
Debt repaid	0	-262	-143	0	0
Stock issued	0.04	0	0	509	421	430	81.9	109	116	81.6
Share buybacks	-25	0	-1.14	0	0
Dividends paid	-204	-213	-234	-271	-137	-133	-140	-102	-105	-107
Cash from financing	-1,167	2,725	-879	4,135	-11,622	-88.6	-2,918	219	327	691
Net change in cash	109	-72.8	46.6	154	103	184	-298	-80.1	12.2	-44.5
Interest paid	147	220	344	490	149	10.4	51.9	243	233	224

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $6.41 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	12.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.7%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	69.1%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	103.1%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-14.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-7.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-1.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-10.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	13.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-5.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	24.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	25.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	30.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	86.3%	Total liabilities / total assets.
Tangible book value	$990.3M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.27	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$1.75	Cash from operations / diluted weighted shares.
Book value per share	$9.67	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.67	Tangible book value / shares outstanding.
Cash per share	$0.72	(Cash + short-term investments) / shares outstanding.
Payout ratio	115.0%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$690.0M	Share price x shares outstanding.
Enterprise value	$616.6M	Market cap + total debt - cash - short-term investments.
P/E	5.75x	Market cap / net income. Only when net income is positive.
P/B	0.70x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.70x	Market cap / tangible book value, when positive.
P/OCF	4.16x	Market cap / cash from operations, when positive.
Earnings yield	17.4%	Net income / market cap (the inverse of P/E).
Dividend yield	20.0%	Dividends paid over the period / market cap.
Shareholder yield	20.0%	(Dividends paid + share buybacks) / market cap.

Was Invesco Mortgage Capital Inc. profitable in fiscal 2025?

Yes. Net income was $101.3M, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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