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Invesco Real Estate Income Trust cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$10.2M in Q2 2026 · $43.5M over twelve months

Operating cash flow$11.5M
Capital spending−$1.2M
Free cash flow+$10.2M
Cash / net income41.9×

Analysis

In Q2 2026, Invesco Real Estate Income Trust generated $11.5M of operating cash flow and spent $1.2M on capital projects, leaving free cash flow of $10.2M. That is $8.7M more than in Q2 2025 ($1.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was $47.7M; the largest uses were other investing ($409M), buybacks ($32.0M), dividends ($14.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($173M), partners ($171M); the cash balance fell by $31.2M.

Operating cash flow was $11.5M against net income of $274K — 41.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$9.6M, other non-cash −$318K, stock-based pay +$80K.

Free cash flow

Invesco Real Estate Income Trust: free cash flow by quarterInvesco Real Estate Income Trust: free cash flow by quarter$6.0MQ3 2024$3.5MQ4 2024$4.2MQ1 2025$1.5MQ2 2025$12.1MQ3 2025$6.3MQ4 2025$14.9MQ1 2026$10.2MQ2 2026
Operating cash flow less capital spending.
Invesco Real Estate Income Trust: operating cash flow against capital spendingInvesco Real Estate Income Trust: operating cash flow against capital spendingOperating cash flowCapital spending$6.9M$905KQ3 2024$4.4M$896KQ4 2024$4.6M$357KQ1 2025$2.8M$1.3MQ2 2025$13.2M$1.1MQ3 2025$7.6M$1.3MQ4 2025$15.5M$572KQ1 2026$11.5M$1.2MQ2 2026
Latest (Q2 2026): Operating cash flow $11.5M, Capital spending $1.2M.

Capital allocation, year by year

Invesco Real Estate Income Trust: where the cash came from (up) and went (down), by fiscal yearInvesco Real Estate Income Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $9.6MFY2021: Net borrowing $7.8MFY2021: Shares issued $112MFY2021: Capital spending −$2.8MFY2021: Dividends −$10.6M$129MFY2021FY2022: Operating cash flow $31.1MFY2022: Net borrowing −$66.5MFY2022: Shares issued $110MFY2022: Asset sales $3.3MFY2022: Capital spending −$2.0MFY2022: Buybacks −$25.2MFY2022: Dividends −$24.8M$145MFY2022FY2023: Operating cash flow $20.2MFY2023: Net borrowing −$45.1MFY2023: Shares issued $52.0MFY2023: Asset sales $10.8MFY2023: Capital spending −$9.5MFY2023: Buybacks −$36.4MFY2023: Dividends −$25.3M$83.0MFY2023FY2024: Operating cash flow $18.0MFY2024: Net borrowing −$9KFY2024: Shares issued $45.6MFY2024: Asset sales $19.1MFY2024: Capital spending −$3.8MFY2024: Buybacks −$39.2MFY2024: Dividends −$14.9M$82.7MFY2024FY2025: Operating cash flow $28.2MFY2025: Net borrowing $106MFY2025: Shares issued $18.3MFY2025: Asset sales $36.0MFY2025: Capital spending −$4.1MFY2025: Buybacks −$29.0MFY2025: Dividends −$14.6M$189MFY2025
Over these 5 years operating cash flow totalled $107M; the largest uses were buybacks ($130M) and net borrowing ($112M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$35.7M
Debtnone
Net cash$35.7M

Invesco Real Estate Income Trust funds itself: free cash flow was $43.5M over the last twelve months, with $35.7M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Invesco Real Estate Income Trust: sources (+) and uses (−) of cash, Q2 2026Invesco Real Estate Income Trust: sources (+) and uses (−) of cash, Q2 2026Other investing−$31.8MNet borrowing (+) / repaid (−)$15.0MOperating cash flow$11.5MBuybacks−$11.1MShares issued$10.1MPartners$9.5MOther financing−$4.1MAsset & business sales$3.7MDividends−$3.5MCash drawn (+) / kept (−)$2.1MCapital spending−$1.2M
Invesco Real Estate Income Trust: sources (+) and uses (−) of cash, TTM to Q2 2026Invesco Real Estate Income Trust: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing−$409MNet borrowing (+) / repaid (−)$173MPartners$171MOperating cash flow$47.7MBuybacks−$32.0MCash drawn (+) / kept (−)$31.2MShares issued$24.5MAsset & business sales$15.3MDividends−$14.2MCapital spending−$4.2MOther financing−$2.3M

From profit to cash

Invesco Real Estate Income Trust: net income to operating cash flow, Q2 2026Invesco Real Estate Income Trust: net income to operating cash flow, Q2 2026Net income$274KDepreciation & amortization$9.6MStock-based pay$80KOther non-cash−$318KOperating cash flow$11.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$11.5M−$1.2M−$11.1M−$3.5M$15.0M$10.1M$2.1M$10.2M
Q1 2026$15.5M−$572K−$8.1M−$3.5M$51.2M$5.7M−$15.3M$14.9M
Q4 2025$7.6M−$1.3M−$3.5M−$3.6M$40.0M$3.9M$15.1M$6.3M
Q3 2025$13.2M−$1.1M−$9.2M−$3.5M$25.0M$4.8M$29.3M$12.1M
Q2 2025$2.8M−$1.3M−$10.0M−$3.7M−$2K$5.3M$74.4M$1.5M
Q1 2025$4.6M−$357K−$6.3M−$3.7M−$2K$4.2M−$93.2M$4.2M
Q4 2024$4.4M−$896K−$14.2M−$3.7M−$2K$10.2M$26.6M$3.5M
Q3 2024$6.9M−$905K−$5.0M−$3.8M−$1K$8.4M−$31.7M$6.0M

Invesco Real Estate Income Trust: income statement and cash flow

Invesco Real Estate Income Trust, Q2 2026: revenue $24.9M (+59% year over year), operating margin 14.8%. The chart follows the revenue to costs, profit and cash.

Invesco Real Estate Income Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.