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Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF

ARCA:PZI
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PZI
ARCA
$18M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is an exchange traded fund launched and managed by Invesco Capital Management LLC. The last earnings update was 49 days ago. More info.


Add to Portfolio Compare Print
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
PZI Share Price and Events
7 Day Returns
0.7%
ARCA:PZI
1.5%
US Capital Markets
1.4%
US Market
1 Year Returns
-1.5%
ARCA:PZI
-8.9%
US Capital Markets
2.3%
US Market
PZI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF (PZI) 0.7% 7% 2.4% -1.5% 30.4% 7%
US Capital Markets 1.5% 1.4% 2.7% -8.9% 68.6% 65%
US Market 1.4% 5.6% 5.7% 2.3% 44.2% 40.9%
1 Year Return vs Industry and Market
  • PZI outperformed the Capital Markets industry which returned -8.9% over the past year.
  • PZI underperformed the Market in United States of America which returned 2.3% over the past year.

PZI Value

 Is Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF.

ARCA:PZI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $18.45 * 6.4%
$1.18
Book Value of Equity per Share Median Book Value from the past 5 years. $18.45
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ARCA:PZI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 21%) (3.86%))
1.101
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.101 * 7.27%)
10.73%

Discounted Cash Flow Calculation for ARCA:PZI using Excess Returns Model Model

The calculations below outline how an intrinsic value for Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ARCA:PZI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.4% – 10.73%) * $18.45)
$-0.80
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.80 / (10.73% - 2.73%)
$-10.00
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $18.45 + $-10.00
$8.45
ARCA:PZI Discount to Share Price
Calculation Result
Value per share (USD) From above. $8.45
Current discount Discount to share price of $18.44
= -1 x ($18.44 - $8.45) / $8.45
-118.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ARCA:PZI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-10-31) in USD $-0.56
ARCA:PZI Share Price ** ARCA (2019-02-20) in USD $18.44
United States of America Capital Markets Industry PE Ratio Median Figure of 72 Publicly-Listed Capital Markets Companies 21.61x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 17.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF.

ARCA:PZI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ARCA:PZI Share Price ÷ EPS (both in USD)

= 18.44 ÷ -0.56

-32.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is loss making, we can't compare its value to the US Capital Markets industry average.
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's expected growth come at a high price?
Raw Data
ARCA:PZI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -32.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 35 Publicly-Listed Capital Markets Companies 1.89x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's assets?
Raw Data
ARCA:PZI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-10-31) in USD $18.53
ARCA:PZI Share Price * ARCA (2019-02-20) in USD $18.44
United States of America Capital Markets Industry PB Ratio Median Figure of 135 Publicly-Listed Capital Markets Companies 4.92x
United States of America Market PB Ratio Median Figure of 5,129 Publicly-Listed Companies 1.87x
ARCA:PZI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ARCA:PZI Share Price ÷ Book Value per Share (both in USD)

= 18.44 ÷ 18.53

1x

* Primary Listing of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PZI Future Performance

 How is Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.6%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF expected to grow at an attractive rate?
  • Unable to compare Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ARCA:PZI Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.6%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ARCA:PZI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ARCA:PZI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-10-31 -0 -1
2018-07-31 -0 0
2018-04-30 0 1
2018-01-31 1 3
2017-10-31 1 5
2017-07-31 1 5
2017-04-30 1 5
2017-01-31 1 3
2016-10-31 1 2
2016-07-31 1 0
2016-04-30 1 -1
2016-01-31 1 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is high growth as no earnings estimate data is available.
  • Unable to determine if Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ARCA:PZI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ARCA:PZI Past Financials Data
Date (Data in USD Millions) EPS *
2018-10-31 -0.56
2018-07-31 0.40
2018-04-30 1.37
2018-01-31 3.24
2017-10-31 4.64
2017-07-31 4.57
2017-04-30 3.81
2017-01-31 2.49
2016-10-31 1.13
2016-07-31 0.32
2016-04-30 -0.49
2016-01-31 -0.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PZI Past Performance

  How has Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's 1-year growth to the US Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ARCA:PZI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-10-31 -0.08 -0.56 0.11
2018-07-31 -0.04 0.40 0.12
2018-04-30 0.00 1.37 0.12
2018-01-31 0.54 3.24 0.13
2017-10-31 1.08 5.11 0.14
2017-07-31 1.08 5.03 0.14
2017-04-30 1.08 4.95 0.14
2017-01-31 0.79 3.24 0.14
2016-10-31 0.51 1.53 0.13
2016-07-31 0.52 0.43 0.14
2016-04-30 0.52 -0.66 0.15
2016-01-31 0.55 -0.89 0.15
2015-10-31 0.59 -1.11 0.16
2015-07-31 0.68 -0.59 0.20
2015-04-30 0.77 -0.07 0.23
2015-01-31 0.97 0.95 0.28
2014-10-31 1.16 1.98 0.33
2014-07-31 1.12 5.54 0.34
2014-04-30 1.08 9.10 0.34
2014-01-31 0.91 10.81 0.31
2013-10-31 0.73 12.53 0.27
2013-07-31 0.74 9.27 0.23
2013-04-30 0.75 6.01 0.20
2013-01-31 0.70 5.29 0.19
2012-10-31 0.65 4.56 0.19
2012-07-31 0.71 -1.44 0.25
2012-04-30 0.76 -7.45 0.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has efficiently used its assets last year compared to the US Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PZI Health

 How is Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF Company Filings, last reported 3 months ago.

ARCA:PZI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-10-31 18.53 0.71 0.11
2018-07-31 18.53 0.71 0.11
2018-04-30 19.25 0.84 0.09
2018-01-31 19.25 0.84 0.09
2017-10-31 21.35 1.98 0.07
2017-07-31 21.35 1.98 0.07
2017-04-30 23.99 1.64 0.08
2017-01-31 23.99 1.64 0.08
2016-10-31 22.05 0.49 0.08
2016-07-31 22.05 0.49 0.08
2016-04-30 21.02 0.24 0.06
2016-01-31 21.02 0.24 0.06
2015-10-31 23.97 0.58 0.06
2015-07-31 23.97 0.58 0.06
2015-04-30 28.92 0.24 0.09
2015-01-31 28.92 0.24 0.09
2014-10-31 34.94 1.71 0.06
2014-07-31 34.94 1.71 0.06
2014-04-30 61.78 3.41
2014-01-31 61.78 3.41
2013-10-31 56.53 1.59 0.10
2013-07-31 56.53 1.59 0.10
2013-04-30 42.05 1.45 0.03
2013-01-31 42.05 1.45 0.03
2012-10-31 28.78 0.11 0.03
2012-07-31 28.78 0.11 0.03
2012-04-30 34.02 0.43 0.03
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's level of debt (3.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2.8% vs 3.8% today).
  • Unable to verify if debt is well covered by operating cash flow as Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has not reported sufficient balance sheet data.
  • Unable to confirm if the interest payments on Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PZI Dividends

 What is Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.36%
Current annual income from Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF dividends.
If you bought $2,000 of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF shares you are expected to receive $27 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's dividend is below the markets top 25% of dividend payers in United States of America (3.54%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ARCA:PZI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2001 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ARCA:PZI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-07-09 0.250 1.348
2017-07-05 0.790 4.145
2016-07-11 0.190 1.071
2015-06-24 0.310 2.050
2014-06-24 0.160 0.996
2013-07-03 0.220 1.371
2012-07-06 0.130 1.056
2011-06-30 0.080 0.763
2010-06-30 0.070 0.638
2010-06-29 0.070 0.765
2009-07-08 0.170 1.741
2009-02-23 0.120 1.581

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PZI Management

 What is the CEO of Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dan Draper
AGE 50
CEO Bio

Mr. Daniel Eugene Draper, also known as Dan, CFA, CMT, CAIA, FRM serves as the Managing Director of Global Exchange Traded Funds and Chief Executive Officer at Invesco Capital Management LLC since September 2013. Mr. Draper was previously a Managing Director and the Global Head of Exchange Traded Funds at Credit Suisse AG from March 2010 till June 2013. Prior to that, he was a Managing Director and the Global Head of Exchange Traded Funds at Lyxor Asset Management from January 2007 to May 2010. Before that, Mr. Draper served as Director of UK and Ireland Business Development at iShares, from 2003 to 2005. Prior to this, he was a Director and UK Sales Manager at UBS Wealth Management from 2003 to 2005. Mr. Draper served as a Sales Executive in the US Equities Research Sales division at Cazenove PLC from 2002 to 2003. He was also an Associate in the US Equities Research Sales and Convertibles Research division at Goldman Sachs International from 1999 to 2002. Mr. Draper served as an Associate and Financial Analyst at Salomon Brothers Inc. from 1992 to 1997. He was a Financial Analyst at The Gulfstar Group, Inc. from 1991 to 1992. Mr. Draper serves on the Board of Advisors of the William and Mary Mason School of Business. He is a Chartered Financial Analyst, CMT, CAIA, and FRM charter holder. Mr. Draper received an M.B.A. in Business Administration and Management from The University of North Carolina at Chapel Hill - Kenan Flagler Business School in 1999 and a B.A. with a major in Economics and a minor in English Literature from The College of William and Mary in 1991.

CEO Compensation
  • Insufficient data for Dan to compare compensation growth.
  • Insufficient data for Dan to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team

Andrew Schlossberg

TITLE
President
AGE
74

Christopher Joe

TITLE
Chief Compliance Officer
AGE
49

Steve Hill

TITLE
Treasurer and Vice President
AGE
54

Anna Paglia

TITLE
Secretary
AGE
44

David Warren

TITLE
Vice President
AGE
61

Sheri Morris

TITLE
Vice President
AGE
54

Rudolf Reitmann

TITLE
Vice President of Operations Management & Head of Global ETF Operations
AGE
47

Dan Draper

TITLE
Managing Director of Global Exchange Traded Funds & Chief Executive Officer
AGE
50

Peter Hubbard

TITLE
Portfolio Manager
AGE
37
TENURE
11.7 yrs

Michael Jeanette

TITLE
Portfolio Manager
TENURE
10.5 yrs
Board of Directors Tenure

Average tenure and age of the Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF board of directors in years:

9.1
Average Tenure
58
Average Age
  • The tenure for the Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF board of directors is about average.
Board of Directors

Don Wilson

TITLE
Chairman of The Board
AGE
58
TENURE
7.1 yrs

Ronn Bagge

TITLE
AGE
60
TENURE
16.1 yrs

Todd Barre

TITLE
AGE
61
TENURE
9.1 yrs

Marc Kole

TITLE
AGE
58
TENURE
13.1 yrs

Yung Lim

TITLE
AGE
54
TENURE
6.1 yrs

Phil Nussbaum

TITLE
AGE
57
TENURE
16.1 yrs

Gary Wicker

TITLE
AGE
57
TENURE
6.1 yrs

Kevin Carome

TITLE
AGE
62
TENURE
9.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PZI News

Simply Wall St News

PZI Company Info

Map
Description

Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF is an exchange traded fund launched and managed by Invesco Capital Management LLC. The fund invests in public equity markets of the United States. It invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of micro-cap companies. The fund seeks to track the performance of the Zacks Micro Cap Index, by using full replication technique. Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF was formed on August 18, 2005 and is domiciled in the United States.

Details
Name: Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF
PZI
Exchange: ARCA
Founded: 2005
$18,440,000
1,000,000
Website: http://www.invescopowershares.com/products/overview.aspx?ticker=PZI
Address: Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF
3500 Lacey Road,
Suite 700,
Downers Grove,
Illinois, 60515,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ARCA PZI Common Stock NYSE Arca US USD 18. Aug 2005
Number of employees
Current staff
Staff numbers
0
Invesco Exchange-Traded Fund Trust - Invesco Zacks Micro Cap ETF employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/22 00:05
End of day share price update: 2019/02/20 00:00
Last earnings filing: 2019/01/04
Last earnings reported: 2018/10/31
Last annual earnings reported: 2018/04/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.