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Side-by-side financial comparison of Invesco Mortgage Capital Inc. (IVR) and Spero Therapeutics, Inc. (SPRO). 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 $12.6M, roughly 1.7× Spero Therapeutics, Inc.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs 242.2%, a 8.4% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs 55.4%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% 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.

IVR vs SPRO — Head-to-Head

Bigger by revenue
IVR
IVR
1.7× larger
IVR
$21.3M
$12.6M
SPRO
Growing faster (revenue YoY)
SPRO
SPRO
+24025.4% gap
SPRO
24080.8%
55.4%
IVR
Higher net margin
SPRO
SPRO
8.4% more per $
SPRO
250.7%
242.2%
IVR
Faster 2-yr revenue CAGR
SPRO
SPRO
Annualised
SPRO
847.7%
74.2%
IVR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IVR
IVR
SPRO
SPRO
Revenue
$21.3M
$12.6M
Net Profit
$51.5M
$31.5M
Gross Margin
Operating Margin
Net Margin
242.2%
250.7%
Revenue YoY
55.4%
24080.8%
Net Profit YoY
1368.7%
250.9%
EPS (diluted)
$0.72
$0.56

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
SPRO
SPRO
Q4 25
$21.3M
$12.6M
Q3 25
$17.6M
$0
Q2 25
$17.7M
$0
Q1 25
$18.8M
$12.0K
Q4 24
$13.7M
$52.0K
Q3 24
$7.5M
$65.0K
Q2 24
$8.6M
$114.0K
Q1 24
$7.0M
$140.0K
Net Profit
IVR
IVR
SPRO
SPRO
Q4 25
$51.5M
$31.5M
Q3 25
$53.5M
$-7.4M
Q2 25
$-23.3M
$-1.7M
Q1 25
$19.6M
$-13.9M
Q4 24
$3.5M
Q3 24
$40.7M
$-17.1M
Q2 24
$-13.5M
$-17.9M
Q1 24
$29.1M
$-12.7M
Operating Margin
IVR
IVR
SPRO
SPRO
Q4 25
Q3 25
Q2 25
Q1 25
-122758.3%
Q4 24
Q3 24
-28604.6%
Q2 24
-16720.2%
Q1 24
-9987.1%
Net Margin
IVR
IVR
SPRO
SPRO
Q4 25
242.2%
250.7%
Q3 25
303.6%
Q2 25
-131.6%
Q1 25
104.4%
-115550.0%
Q4 24
25.6%
Q3 24
542.2%
-26380.0%
Q2 24
-155.9%
-15668.4%
Q1 24
415.9%
-9049.3%
EPS (diluted)
IVR
IVR
SPRO
SPRO
Q4 25
$0.72
$0.56
Q3 25
$0.74
$-0.13
Q2 25
$-0.40
$-0.03
Q1 25
$0.26
$-0.25
Q4 24
$-0.09
Q3 24
$0.63
$-0.32
Q2 24
$-0.38
$-0.33
Q1 24
$0.49
$-0.24

Balance Sheet & Financial Strength

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

Metric
IVR
IVR
SPRO
SPRO
Cash + ST InvestmentsLiquidity on hand
$56.0M
$40.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$797.5M
$59.0M
Total Assets
$6.5B
$68.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IVR
IVR
SPRO
SPRO
Q4 25
$56.0M
$40.3M
Q3 25
$58.5M
$48.6M
Q2 25
$59.4M
$31.2M
Q1 25
$42.9M
$48.9M
Q4 24
$73.4M
$52.9M
Q3 24
$48.3M
$76.3M
Q2 24
$58.8M
$63.5M
Q1 24
$59.9M
$82.3M
Stockholders' Equity
IVR
IVR
SPRO
SPRO
Q4 25
$797.5M
$59.0M
Q3 25
$769.6M
$26.5M
Q2 25
$709.4M
$32.8M
Q1 25
$759.2M
$33.8M
Q4 24
$730.7M
$46.1M
Q3 24
$857.0M
$65.5M
Q2 24
$759.2M
$80.5M
Q1 24
$785.6M
$96.2M
Total Assets
IVR
IVR
SPRO
SPRO
Q4 25
$6.5B
$68.9M
Q3 25
$6.0B
$54.2M
Q2 25
$5.4B
$62.1M
Q1 25
$6.2B
$77.7M
Q4 24
$5.7B
$110.5M
Q3 24
$6.1B
$135.2M
Q2 24
$5.1B
$149.9M
Q1 24
$5.2B
$167.7M

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
SPRO
SPRO
Operating Cash FlowLast quarter
$157.1M
$-8.4M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
3.05×
-0.26×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IVR
IVR
SPRO
SPRO
Q4 25
$157.1M
$-8.4M
Q3 25
$37.3M
$17.4M
Q2 25
$40.6M
$-17.7M
Q1 25
$19.3M
$-4.0M
Q4 24
$183.2M
$-23.4M
Q3 24
$30.8M
$12.8M
Q2 24
$33.0M
$-18.7M
Q1 24
$57.5M
$5.9M
Cash Conversion
IVR
IVR
SPRO
SPRO
Q4 25
3.05×
-0.26×
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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