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Side-by-side financial comparison of Invesco Mortgage Capital Inc. (IVR) and Avidity Biosciences, Inc. (RNA). 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 $12.5M, roughly 1.7× Avidity Biosciences, Inc.). Invesco Mortgage Capital Inc. runs the higher net margin — 242.2% vs -1398.3%, a 1640.6% gap on every dollar of revenue. On growth, Avidity Biosciences, Inc. posted the faster year-over-year revenue change (434.0% vs 55.4%). Over the past eight quarters, Avidity Biosciences, Inc.'s revenue compounded faster (138.5% CAGR vs 74.2%).

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.

Eli Lilly and Company, doing business as Lilly, is an American multinational pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by Eli Lilly, a pharmaceutical chemist and Union army veteran during the American Civil War for whom the company was later named.

IVR vs RNA — Head-to-Head

Bigger by revenue
IVR
IVR
1.7× larger
IVR
$21.3M
$12.5M
RNA
Growing faster (revenue YoY)
RNA
RNA
+378.6% gap
RNA
434.0%
55.4%
IVR
Higher net margin
IVR
IVR
1640.6% more per $
IVR
242.2%
-1398.3%
RNA
Faster 2-yr revenue CAGR
RNA
RNA
Annualised
RNA
138.5%
74.2%
IVR

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
IVR
IVR
RNA
RNA
Revenue
$21.3M
$12.5M
Net Profit
$51.5M
$-174.4M
Gross Margin
Operating Margin
-1513.5%
Net Margin
242.2%
-1398.3%
Revenue YoY
55.4%
434.0%
Net Profit YoY
1368.7%
-117.0%
EPS (diluted)
$0.72
$-1.27

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.

Revenue
IVR
IVR
RNA
RNA
Q4 25
$21.3M
Q3 25
$17.6M
$12.5M
Q2 25
$17.7M
$3.8M
Q1 25
$18.8M
$1.6M
Q4 24
$13.7M
$3.0M
Q3 24
$7.5M
$2.3M
Q2 24
$8.6M
$2.0M
Q1 24
$7.0M
$3.5M
Net Profit
IVR
IVR
RNA
RNA
Q4 25
$51.5M
Q3 25
$53.5M
$-174.4M
Q2 25
$-23.3M
$-157.3M
Q1 25
$19.6M
$-115.8M
Q4 24
$3.5M
$-102.3M
Q3 24
$40.7M
$-80.4M
Q2 24
$-13.5M
$-70.8M
Q1 24
$29.1M
$-68.9M
Operating Margin
IVR
IVR
RNA
RNA
Q4 25
Q3 25
-1513.5%
Q2 25
-4448.7%
Q1 25
-8360.9%
Q4 24
-4069.6%
Q3 24
-4200.9%
Q2 24
-4040.4%
Q1 24
-2178.6%
Net Margin
IVR
IVR
RNA
RNA
Q4 25
242.2%
Q3 25
303.6%
-1398.3%
Q2 25
-131.6%
-4089.3%
Q1 25
104.4%
-7360.0%
Q4 24
25.6%
-3439.5%
Q3 24
542.2%
-3441.7%
Q2 24
-155.9%
-3461.8%
Q1 24
415.9%
-1943.4%
EPS (diluted)
IVR
IVR
RNA
RNA
Q4 25
$0.72
Q3 25
$0.74
$-1.27
Q2 25
$-0.40
$-1.21
Q1 25
$0.26
$-0.90
Q4 24
$-0.09
$-0.80
Q3 24
$0.63
$-0.65
Q2 24
$-0.38
$-0.65
Q1 24
$0.49
$-0.79

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IVR
IVR
RNA
RNA
Cash + ST InvestmentsLiquidity on hand
$56.0M
$350.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$797.5M
$1.9B
Total Assets
$6.5B
$2.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IVR
IVR
RNA
RNA
Q4 25
$56.0M
Q3 25
$58.5M
$350.2M
Q2 25
$59.4M
$243.9M
Q1 25
$42.9M
$254.2M
Q4 24
$73.4M
$219.9M
Q3 24
$48.3M
$370.2M
Q2 24
$58.8M
$575.8M
Q1 24
$59.9M
$471.4M
Stockholders' Equity
IVR
IVR
RNA
RNA
Q4 25
$797.5M
Q3 25
$769.6M
$1.9B
Q2 25
$709.4M
$1.2B
Q1 25
$759.2M
$1.3B
Q4 24
$730.7M
$1.4B
Q3 24
$857.0M
$1.5B
Q2 24
$759.2M
$1.2B
Q1 24
$785.6M
$830.9M
Total Assets
IVR
IVR
RNA
RNA
Q4 25
$6.5B
Q3 25
$6.0B
$2.1B
Q2 25
$5.4B
$1.4B
Q1 25
$6.2B
$1.5B
Q4 24
$5.7B
$1.6B
Q3 24
$6.1B
$1.6B
Q2 24
$5.1B
$1.3B
Q1 24
$5.2B
$951.5M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IVR
IVR
RNA
RNA
Operating Cash FlowLast quarter
$157.1M
$-156.2M
Free Cash FlowOCF − Capex
$-156.9M
FCF MarginFCF / Revenue
-1257.6%
Capex IntensityCapex / Revenue
5.7%
Cash ConversionOCF / Net Profit
3.05×
TTM Free Cash FlowTrailing 4 quarters
$-592.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IVR
IVR
RNA
RNA
Q4 25
$157.1M
Q3 25
$37.3M
$-156.2M
Q2 25
$40.6M
$-199.7M
Q1 25
$19.3M
$-124.8M
Q4 24
$183.2M
$-99.9M
Q3 24
$30.8M
$-65.6M
Q2 24
$33.0M
$-65.0M
Q1 24
$57.5M
$-70.4M
Free Cash Flow
IVR
IVR
RNA
RNA
Q4 25
Q3 25
$-156.9M
Q2 25
$-203.0M
Q1 25
$-128.6M
Q4 24
$-103.8M
Q3 24
$-67.3M
Q2 24
$-65.5M
Q1 24
$-71.3M
FCF Margin
IVR
IVR
RNA
RNA
Q4 25
Q3 25
-1257.6%
Q2 25
-5277.1%
Q1 25
-8174.3%
Q4 24
-3491.0%
Q3 24
-2881.8%
Q2 24
-3204.6%
Q1 24
-2012.3%
Capex Intensity
IVR
IVR
RNA
RNA
Q4 25
Q3 25
5.7%
Q2 25
86.9%
Q1 25
238.6%
Q4 24
131.7%
Q3 24
72.9%
Q2 24
26.0%
Q1 24
25.8%
Cash Conversion
IVR
IVR
RNA
RNA
Q4 25
3.05×
Q3 25
0.70×
Q2 25
Q1 25
0.98×
Q4 24
52.24×
Q3 24
0.76×
Q2 24
Q1 24
1.97×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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