Filing Flows › Invesco (IVZ) › Q4 2025
Invesco (IVZ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Invesco (IVZ) reported revenue of $1.7B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +3% from the quarter before. Operating margin was -86.2%, net loss $996M (58.9% of revenue).
Invesco, Q4 2025: revenue $1.7B (+6% year over year), operating margin -86.2%, net loss $996M, operating cash flow $456M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +3% | +6% |
| Operating profit | −$1.5B | -638% | — |
| Net earnings | −$996M | -431% | — |
| Operating cash flow | $456M | -25% | +44% |
| Free cash flow | $432M | -26% | +33% |
What changed
Revenue was $1.7B in Q4 2025, up 6% year over year and up 3% from the previous quarter. Investment management fees was the largest line at 73% of revenue.
Operating costs exceeded revenue by $1.5B, an operating margin of -86.2%. Total costs grew 146% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+162%). The quarter ended with a net loss of $1.0B, after a profit of $0.36B the previous quarter.
Operating cash flow was $0.46B (up 44% year over year). Non-cash charges added back $0.04B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $1.4B. Capital expenditures of $0.02B left free cash flow of $0.43B.
Questions
What was Invesco's revenue in the fourth quarter 2025?
Invesco (IVZ) reported revenue of $1.7B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +3% from the quarter before.
Was Invesco profitable in the fourth quarter 2025?
Operating loss was $1.5B (-86.2% of revenue) and net loss $996M.
Source: Invesco 10-K on SEC EDGAR.