IVR
Invesco Mortgage Capital Inc.
Next earnings Jul 22, 2026 (after close) · consensus $0.52 EPS, $78.7M rev
Last earnings +0.5% on 2026-04-30
$7.92
▲ +1.15%$7.92▲ +26.87%
over 1Y
L $6.16EODHDH $8.75
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.1%
1W+0.1%
1M+0.4%
3M+5.8%
YTD+0.4%
1Y+26.9%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 13 analysts
Hold
Cheap mREIT at 6x earnings with FY25 net income +69%, but 7.1x leverage and -$3.58B retained earnings demand respect.
Diluted EPS $1.32 · FY2025
The read
Middling fundamentals offset by an attractive price (~533% below fair value) — worth a look on the value angle.
Invesco Mortgage Capital is a leveraged Agency-MBS REIT whose FY2025 results genuinely improved: net income rose 69.1% to $101M and diluted EPS doubled to $1.32, supported by the more accommodative rate environment described in the MD&A (FOMC cut the Fed Funds rate three times in 2025, the 2-year Treasury yield fell 78bps to 3.47%, and the curve steepened modestly). That backdrop is structurally favorable for a portfolio that funds long-duration MBS with short-term repo — the very 'net interest spread' dynamic management calls out as the dominant driver of results. A 6.0x P/E and 12.7% ROE on a stock at $7.87 screen as cheap.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | -$90.0M | -$403M | -$15.9M | $59.9M | $101M |
| Diluted EPS | -$4.82 | -$12.21 | -$0.85 | $0.65 | $1.32 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.09
Earnings yield15.4%
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow—
Total debt$19.2B
Net cash-$19.1B
Piotroski F-Score4/6
Capital returns
Buyback yield0.0%
Dividend yield (est.)1.2%
Shareholder yield1.2%
Shares Δ YoY+34.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Reg FD disclosure2026-06-12
Monthly book value/dividend update; routine investor disclosure
- 8-K Reg FD disclosure2026-05-14
Monthly book value/dividend update for mortgage REIT investors
- 8-K Shareholder vote2026-05-07
Annual meeting vote results disclosed; routine governance item
- 10-Q Quarterly report2026-05-06
Q1 2026 results following strong FY25 (+69% NI); rate-cut tailwinds ongoing
- 8-K Earnings results2026-04-30
Q1 2026 earnings release issued for investor review
- 8-K Reg FD disclosure2026-04-15
Mid-quarter book value/portfolio update for shareholders
- 8-K Officer / director change2026-04-14
Officer/director change announced alongside Reg FD disclosure
- DEF 14A Proxy statement2026-03-20
2026 proxy: routine board, comp and auditor ratification items
- 10-K Annual report2026-02-23
FY25 NI $101M (+69%), EPS $1.32 (+103%); equity +9% on supportive Fed cuts
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-122026-06-12open ↗4Period ending 2026-05-152026-05-19open ↗4Period ending 2026-05-152026-05-19open ↗4Period ending 2026-05-152026-05-19open ↗4Period ending 2026-05-152026-05-19open ↗4Period ending 2026-05-152026-05-19open ↗8-KPeriod ending 2026-05-142026-05-14open ↗8-KPeriod ending 2026-05-052026-05-07open ↗4Period ending 2026-05-052026-05-07open ↗10-QPeriod ending 2026-03-312026-05-06open ↗8-KPeriod ending 2026-04-302026-04-30open ↗8-KPeriod ending 2026-04-152026-04-15open ↗
Frequently asked
- Is Invesco Mortgage Capital Inc. (IVR) a buy?
- IVR currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Cheap mREIT at 6x earnings with FY25 net income +69%, but 7.1x leverage and -$3.58B retained earnings demand respect.
- What is IVR's fair value?
- A Modified-Graham model based on IVR's SEC fundamentals estimates a fair value of about $50.16. It is an estimate from reported earnings, not a price target.
- Is IVR overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, IVR currently appears undervalued relative to its SEC-grounded earnings power.
- What is Invesco Mortgage Capital Inc.'s quality score?
- IVR scores 85.88235294117646/100 (grade A) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001437071, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/25/2026, 3:04:46 PM.
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