Invesco vs T. Rowe Price
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KIRA’s take AI analyst
I put Invesco and T. Rowe Price side by side, using each one’s latest annual report. Here is what stands out:
- T. Rowe Price is the larger business, with $7.3B of revenue in fiscal 2025 against $6.4B for Invesco.
- Invesco grew revenue faster (5.1%, against 3.1%).
- T. Rowe Price kept more of each dollar of sales as operating profit (29.9% operating margin, against −10.9%).
- Invesco turned more of its sales into free cash flow (22.6% FCF margin, against 20.2%).
- T. Rowe Price earned a higher return on the capital invested in it (21.7%, against −3.8%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Invesco
IVZ
2/8
Revenue growthFCF margin
T. Rowe Price
TROW
6/8
5-year growthOperating marginNet marginReturn on capitalReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | IVZ FY25 | TROW FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.0B | $22.2B |
| Revenue | $6.4B | $7.3B |
| Free cash flow | $1.4B | $1.5B |
| Net income | −$726M | $2.1B |
| Growth | ||
| Revenue growth | 5.1% | 3.1% |
| 5-year growth | 0.7% | 3.3% |
| Share count change | −0.6% | −1.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | −10.9% | 29.9% |
| Net margin | −11.4% | 28.5% |
| FCF margin | 22.6% | 20.2% |
| Return on capital | −3.8% | 21.7% |
| Return on equity | −5.4% | 19.7% |
| Balance sheet | ||
| Net debt | $788M | −$3.4B |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $501M | $1.8B |
| Valuation & quality | ||
| P/E | — | 10.4x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.