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IVR

Invesco Mortgage Capital NYSE:IVR Stock Report

Last Price

US$13.41

Market Cap

US$442.4m

7D

23.0%

1Y

-67.0%

Updated

26 Jun, 2022

Data

Company Financials +
IVR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health4/6
Dividends3/6

IVR Stock Overview

Invesco Mortgage Capital Inc. operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets.

Invesco Mortgage Capital Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Invesco Mortgage Capital
Historical stock prices
Current Share PriceUS$13.41
52 Week HighUS$41.10
52 Week LowUS$9.63
Beta1.31
1 Month Change-23.81%
3 Month Change-40.40%
1 Year Change-66.97%
3 Year Change-91.68%
5 Year Change-91.98%
Change since IPO-93.10%

Recent News & Updates

Shareholder Returns

IVRUS Mortgage REITsUS Market
7D23.0%9.1%6.6%
1Y-67.0%-28.0%-18.4%

Return vs Industry: IVR underperformed the US Mortgage REITs industry which returned -28% over the past year.

Return vs Market: IVR underperformed the US Market which returned -18.5% over the past year.

Price Volatility

Is IVR's price volatile compared to industry and market?
IVR volatility
IVR Average Weekly Movement10.5%
Mortgage REITs Industry Average Movement5.7%
Market Average Movement8.1%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: IVR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: IVR's weekly volatility (11%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2008n/aJohn Anzalonehttps://www.invescomortgagecapital.com

Invesco Mortgage Capital Inc. operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S. government agency or federally chartered corporation; RMBS and CMBS that are not issued or guaranteed by a U.S. government agency or federally chartered corporation; credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; residential and commercial mortgage loans; and other real estate-related financing arrangements. Invesco Mortgage Capital Inc. has elected to be taxed as a REIT and would be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.

Invesco Mortgage Capital Fundamentals Summary

How do Invesco Mortgage Capital's earnings and revenue compare to its market cap?
IVR fundamental statistics
Market CapUS$442.42m
Earnings (TTM)-US$348.91m
Revenue (TTM)n/a

-1.6x

P/S Ratio

-1.3x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IVR income statement (TTM)
Revenue-US$280.32m
Cost of RevenueUS$0
Gross Profit-US$280.32m
Other ExpensesUS$68.59m
Earnings-US$348.91m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-10.58
Gross Margin100.00%
Net Profit Margin124.47%
Debt/Equity Ratio524.4%

How did IVR perform over the long term?

See historical performance and comparison

Dividends

26.8%

Current Dividend Yield

-31%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is IVR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IVR?

Other financial metrics that can be useful for relative valuation.

IVR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Book Ratio vs Peers

How does IVR's PB Ratio compare to its peers?

IVR PB Ratio vs Peers
The above table shows the PB ratio for IVR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average0.8x

Price-To-Book vs Peers: IVR is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (0.8x).


Price to Earnings Ratio vs Industry

How does IVR's PE Ratio compare vs other companies in the U.S. Mortgage REITs Industry?

Price-To-Book vs Industry: IVR is good value based on its Price-To-Book Ratio (0.6x) compared to the US Mortgage REITs industry average (0.8x)


Price to Book Ratio vs Fair Ratio

What is IVR's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IVR PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate IVR's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of IVR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate IVR's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate IVR's fair value for valuation analysis.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IVR's PEG Ratio to determine if it is good value.


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Future Growth

How is Invesco Mortgage Capital forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


115.4%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if IVR's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if IVR's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if IVR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: IVR's revenue (115.4% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: IVR's revenue (115.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IVR's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Invesco Mortgage Capital performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-48.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IVR is currently unprofitable.

Growing Profit Margin: IVR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IVR is unprofitable, and losses have increased over the past 5 years at a rate of 48.1% per year.

Accelerating Growth: Unable to compare IVR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IVR is unprofitable, making it difficult to compare its past year earnings growth to the Mortgage REITs industry (5.4%).


Return on Equity

High ROE: IVR has a negative Return on Equity (-27.41%), as it is currently unprofitable.


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Financial Health

How is Invesco Mortgage Capital's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: IVR's short term assets ($602.8M) do not cover its short term liabilities ($6.0B).

Long Term Liabilities: IVR has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: IVR's net debt to equity ratio (500.5%) is considered high.

Reducing Debt: IVR's debt to equity ratio has reduced from 612.4% to 524.4% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable IVR has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: IVR is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 11.5% per year.


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Dividend

What is Invesco Mortgage Capital current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


26.85%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: IVR's dividend (26.85%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: IVR's dividend (26.85%) is in the top 25% of dividend payers in the US market (4.24%)


Stability and Growth of Payments

Stable Dividend: IVR's dividend payments have been volatile in the past 10 years.

Growing Dividend: IVR's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: IVR is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (75.2%), IVR's dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

4.7yrs

Average management tenure


CEO

John Anzalone (56 yo)

5.25yrs

Tenure

Mr. John M. Anzalone, CFA serves as Chief Investment Officer at Invesco Agency Securities Inc. Mr. Anzalone has been the Chief Executive Officer of Invesco Mortgage Capital Inc. since March 1, 2017. He ser...


Leadership Team

Experienced Management: IVR's management team is considered experienced (4.7 years average tenure).


Board Members

Experienced Board: IVR's board of directors are considered experienced (5.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: IVR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.1%.


Top Shareholders

Company Information

Invesco Mortgage Capital Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Invesco Mortgage Capital Inc.
  • Ticker: IVR
  • Exchange: NYSE
  • Founded: 2008
  • Industry: Mortgage REITs
  • Sector: Diversified Financials
  • Implied Market Cap: US$442.420m
  • Shares outstanding: 32.99m
  • Website: https://www.invescomortgagecapital.com

Location

  • Invesco Mortgage Capital Inc.
  • Two Peachtree Pointe
  • Suite 1800
  • Atlanta
  • Georgia
  • 30309
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.