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Side-by-side financial comparison of Invesco Mortgage Capital Inc. (IVR) and TPG Mortgage Investment Trust, Inc. (MITT). Click either name above to swap in a different company.
Invesco Mortgage Capital Inc. is the larger business by last-quarter revenue ($21.3M vs $20.4M, roughly 1.0× TPG Mortgage Investment Trust, Inc.). Invesco Mortgage Capital Inc. runs the higher net margin — 242.2% vs 65.0%, a 177.3% gap on every dollar of revenue. On growth, Invesco Mortgage Capital Inc. posted the faster year-over-year revenue change (55.4% vs 17.7%). Over the past eight quarters, Invesco Mortgage Capital Inc.'s revenue compounded faster (74.2% CAGR vs 9.1%).
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
IVR vs MITT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $20.4M |
| Net Profit | $51.5M | $13.3M |
| Gross Margin | — | — |
| Operating Margin | — | 67.1% |
| Net Margin | 242.2% | 65.0% |
| Revenue YoY | 55.4% | 17.7% |
| Net Profit YoY | 1368.7% | -7.0% |
| EPS (diluted) | $0.72 | $0.27 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $21.3M | $20.4M | ||
| Q3 25 | $17.6M | $19.5M | ||
| Q2 25 | $17.7M | $17.8M | ||
| Q1 25 | $18.8M | $18.8M | ||
| Q4 24 | $13.7M | $17.4M | ||
| Q3 24 | $7.5M | $14.9M | ||
| Q2 24 | $8.6M | $16.4M | ||
| Q1 24 | $7.0M | $17.2M |
| Q4 25 | $51.5M | $13.3M | ||
| Q3 25 | $53.5M | $20.0M | ||
| Q2 25 | $-23.3M | $3.9M | ||
| Q1 25 | $19.6M | $11.5M | ||
| Q4 24 | $3.5M | $14.3M | ||
| Q3 24 | $40.7M | $16.6M | ||
| Q2 24 | $-13.5M | $3.9M | ||
| Q1 24 | $29.1M | $20.9M |
| Q4 25 | — | 67.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 20.9% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 76.7% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 18.4% | ||
| Q1 24 | — | — |
| Q4 25 | 242.2% | 65.0% | ||
| Q3 25 | 303.6% | 102.5% | ||
| Q2 25 | -131.6% | 22.2% | ||
| Q1 25 | 104.4% | 60.9% | ||
| Q4 24 | 25.6% | 82.2% | ||
| Q3 24 | 542.2% | 111.3% | ||
| Q2 24 | -155.9% | 24.0% | ||
| Q1 24 | 415.9% | 121.6% |
| Q4 25 | $0.72 | $0.27 | ||
| Q3 25 | $0.74 | $0.47 | ||
| Q2 25 | $-0.40 | $-0.05 | ||
| Q1 25 | $0.26 | $0.21 | ||
| Q4 24 | $-0.09 | $0.30 | ||
| Q3 24 | $0.63 | $0.40 | ||
| Q2 24 | $-0.38 | $-0.02 | ||
| Q1 24 | $0.49 | $0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $56.0M | $57.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $797.5M | $560.7M |
| Total Assets | $6.5B | $8.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $56.0M | $57.8M | ||
| Q3 25 | $58.5M | $59.0M | ||
| Q2 25 | $59.4M | $88.7M | ||
| Q1 25 | $42.9M | $115.5M | ||
| Q4 24 | $73.4M | $118.7M | ||
| Q3 24 | $48.3M | $102.5M | ||
| Q2 24 | $58.8M | $120.9M | ||
| Q1 24 | $59.9M | $100.3M |
| Q4 25 | $797.5M | $560.7M | ||
| Q3 25 | $769.6M | $559.8M | ||
| Q2 25 | $709.4M | $536.4M | ||
| Q1 25 | $759.2M | $543.9M | ||
| Q4 24 | $730.7M | $543.4M | ||
| Q3 24 | $857.0M | $540.1M | ||
| Q2 24 | $759.2M | $533.5M | ||
| Q1 24 | $785.6M | $539.6M |
| Q4 25 | $6.5B | $8.7B | ||
| Q3 25 | $6.0B | $9.0B | ||
| Q2 25 | $5.4B | $7.5B | ||
| Q1 25 | $6.2B | $7.3B | ||
| Q4 24 | $5.7B | $6.9B | ||
| Q3 24 | $6.1B | $7.0B | ||
| Q2 24 | $5.1B | $7.1B | ||
| Q1 24 | $5.2B | $6.4B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $157.1M | $59.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.05× | 4.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $59.6M | ||
| Q3 25 | $37.3M | $17.4M | ||
| Q2 25 | $40.6M | $11.5M | ||
| Q1 25 | $19.3M | $12.0M | ||
| Q4 24 | $183.2M | $55.8M | ||
| Q3 24 | $30.8M | $14.5M | ||
| Q2 24 | $33.0M | $13.7M | ||
| Q1 24 | $57.5M | $12.0M |
| Q4 25 | 3.05× | 4.48× | ||
| Q3 25 | 0.70× | 0.87× | ||
| Q2 25 | — | 2.92× | ||
| Q1 25 | 0.98× | 1.05× | ||
| Q4 24 | 52.24× | 3.91× | ||
| Q3 24 | 0.76× | 0.87× | ||
| Q2 24 | — | 3.50× | ||
| Q1 24 | 1.97× | 0.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
