Invesco Mortgage Capital Inc. (IVR) Balance Sheet
IVR balance sheet, 2025
December 31, 2025 · U.S. dollars$6.48B assets = $5.68B liabilities + $797.5M equity
Both columns are drawn to the same scale: what IVR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
IVR financial health
Descriptive bands, not a rating. Fiscal 2025.
IVR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.71B2016 | $6.48B2025 | −9.4%/yr | |
| Total liabilities | $13.44B2016 | $5.68B2025 | −9.1%/yr | |
| Shareholders’ equity | $2.27B2016 | $797.5M2025 | −11.0%/yr | |
| Cash & short-term investments | $161.8M2016 | $56.0M2025 | −11.1%/yr | |
| Total debt | $11.69B2016 | $5.62B2025 | −7.8%/yr | |
| Net cash (debt) | −$11.53B2016 | −$5.56B2025 | +$6.0B | |
| Working capital | $186.1M2016 | −$5.42B2025 | −$5.6B | |
| Book value per share | $306.792021 | $12.032025 | −55.5%/yr | |
| Current ratio | 9.242016 | 0.042025 | −9.20 | |
| Debt / equity | 5.152016 | 7.052025 | +1.89 | |
| Shares outstanding | 27.5M2021 | 66.3M2025 | +24.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
IVR assets
IVR liabilities and equity
IVR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
IVR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $56.0M | $73.4M | $77.0M | $175.5M | $357.1M | $148.0M | $172.5M | $135.6M | $88.4M | $161.8M |
| Cash & equivalents | $56.0M | $73.4M | $77.0M | $175.5M | $357.1M | $148.0M | $172.5M | $135.6M | $88.4M | $161.8M |
| Short-term investments | — | — | −$500,000 | $26.6M | $23.1M | $10.0M | $18.5M | $24.0M | $18.19B | $14.98B |
| Receivables | $27.8M | $25.4M | $26.6M | $24.3M | $24.8M | $16.9M | $100.5M | $80.1M | $73.8M | $177.3M |
| Inventory | $0 | $0 | $0 | $305.4M | −$270,000 | −$10.0M | −$18.5M | $0 | $0 | $0 |
| Other current assets | $114.8M | $112.0M | $133.8M | $0 | $270,000 | $10.0M | $18.5M | $0 | $0 | $0 |
| Total current assets | $198.7M | $210.9M | $237.4M | $175.5M | $381.9M | $164.9M | $273.1M | $215.7M | $88.4M | $208.7M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $397.3M | $316.0M | $344.3M | $662,000 | $270,000 | $10.0M | $18.5M | $46.7M | $198.7M | $276.5M |
| Other non-current assets | $5.88B | $5.16B | $4.70B | $4.92B | $8.06B | $8.46B | $22.05B | $17.55B | $18.37B | $15.22B |
| Total assets | $6.48B | $5.69B | $5.28B | $5.10B | $8.44B | $8.63B | $22.35B | $17.81B | $18.66B | $15.71B |
| Liabilities | ||||||||||
| Accounts payable | $1.6M | $34.3M | $17.1M | $21.9M | $3.1M | $2.3M | $45.6M | $39.3M | $20.0M | $22.6M |
| Short-term debt | $5.62B | $4.89B | $4.46B | $4.23B | $6.99B | $7.23B | $17.83B | $13.60B | $14.08B | $11.16B |
| Deferred revenue | — | — | $4.44B | −$4.21B | −$6.98B | −$7.23B | −$17.79B | — | — | — |
| Total current liabilities | $5.62B | $4.95B | $4.50B | $21.9M | $3.1M | $2.3M | $45.6M | $39.3M | $20.0M | $22.6M |
| Long-term debt | $0 | $0 | $0 | $2.1M | $14.4M | $6.3M | $352,000 | $41.5M | $183.3M | $533.0M |
| Other long-term liabilities | $59.1M | $3.7M | $3.9M | $19.8M | $39.5M | $30.6M | $1.65B | $1.61B | $1.61B | $1.51B |
| Total liabilities | $5.68B | $4.96B | $4.50B | $4.29B | $3.1M | $2.3M | $19.41B | $15.53B | $16.00B | $13.44B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $718,000 | $617,000 | $484,000 | $387,000 | $3.3M | $2.0M | $1.4M | $1.1M | $2.39B | $2.38B |
| Retained earnings (deficit) | −$3.58B | −$3.57B | −$3.52B | −$3.41B | −$2.88B | −$2.64B | −$814.5M | −$882.1M | −$579.3M | −$718.3M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $0 | $173,000 | $698,000 | $10.8M | $37.3M | $58.6M | $289.0M | $220.8M | $261.0M | $293.7M |
| Minority interest | — | — | — | — | — | — | — | — | $26.4M | $28.6M |
| Total shareholders' equity | $797.5M | $730.7M | $782.7M | $804.1M | $8.44B | $8.63B | $2.93B | $2.29B | $2.66B | $2.27B |
| Key figures | ||||||||||
| Total debt | $5.62B | $4.89B | $4.46B | $4.24B | $7.00B | $7.24B | $17.83B | $13.64B | $14.26B | $11.69B |
| Net cash (debt) | −$5.56B | −$4.82B | −$4.38B | −$4.06B | −$6.65B | −$7.09B | −$17.66B | −$13.51B | −$14.18B | −$11.53B |
| Working capital | −$5.42B | −$4.74B | −$4.26B | $153.6M | $378.8M | $162.7M | $227.5M | $176.4M | $68.3M | $186.1M |
| Tangible book value | $797.5M | $730.7M | $782.7M | $804.1M | $8.44B | $8.63B | $2.93B | $2.29B | $2.66B | $2.27B |
| Book value per share | $12.03 | $13.66 | $17.76 | $23.54 | $306.79 | — | — | — | — | — |
| Shares outstanding | 66.3M | 53.5M | 44.1M | 34.2M | 27.5M | — | — | — | — | — |
| Current ratio | 0.04 | 0.04 | 0.05 | 8.01 | 124.88 | 72.62 | 5.99 | 5.49 | 4.41 | 9.24 |
| Quick ratio | 0.01 | 0.02 | 0.02 | 9.12 | 124.88 | 72.62 | 5.99 | 5.49 | 8.09 | 15.00 |
| Debt / equity | 7.05 | 6.70 | 5.70 | 5.27 | 0.83 | 0.84 | 6.08 | 5.97 | 5.37 | 5.15 |
| Equity / assets | 12.3% | 12.8% | 14.8% | 15.8% | 100.0% | 100.0% | 13.1% | 12.8% | 14.2% | 14.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $73.4M | $52.6M | $56.0M | $58.5M | $59.4M | $42.9M | $73.4M | $48.3M | $58.8M | $59.9M | $77.9M | $173.9M |
| Cash & equivalents | $73.4M | $52.6M | $56.0M | $58.5M | $59.4M | $42.9M | $73.4M | $48.3M | $58.8M | $59.9M | $77.0M | $173.9M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $131,000 | $939,000 | $16.1M |
| Receivables | $0 | $52.6M | $27.8M | $29.0M | $23.5M | $27.6M | $25.4M | $26.7M | $36.9M | $22.9M | $26.6M | $25.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $168.5M | $0 | $0 | $0 | $375.9M |
| Other current assets | $214.3M | $0 | $82.5M | $93.2M | $107.6M | $0 | $0 | $0 | $0 | $140.7M | $0 | $0 |
| Total current assets | $287.7M | $52.6M | $166.4M | $180.7M | $190.5M | $42.9M | $98.9M | $168.5M | $95.7M | $223.6M | $104.5M | $386.9M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $474.9M | $440.5M | $397.3M | $364.9M | $302.9M | $328.9M | $316.0M | $472.3M | $386.8M | $390.7M | $344.3M | $218.3M |
| Other non-current assets | $6.48B | $5.78B | $5.91B | $5.42B | $4.91B | $5.79B | $5.27B | $5.44B | $4.58B | $4.62B | $4.84B | $5.23B |
| Total assets | $7.24B | $6.27B | $6.48B | $5.96B | $5.40B | $6.16B | $5.69B | $6.08B | $5.07B | $5.23B | $5.28B | $5.83B |
| Liabilities | ||||||||||||
| Accounts payable | $2.3M | $12.5M | $30.2M | $10.7M | $12.5M | $15.7M | $34.3M | $12.3M | $21.8M | $28.3M | $17.1M | $1.8M |
| Short-term debt | $6.21B | $5.34B | $5.62B | $5.15B | $4.64B | $5.36B | $4.89B | $5.18B | $4.26B | $4.39B | $4.46B | $4.99B |
| Deferred revenue | — | — | — | — | — | — | — | — | $4.24B | −$27.0M | $4.44B | −$4.96B |
| Total current liabilities | $6.21B | $5.34B | $5.68B | $5.19B | $4.68B | $5.40B | $4.95B | $5.22B | $4.30B | $4.39B | $4.50B | $5.04B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $31.2M | $55.5M | $0 | $680,000 | $10.8M | $3.6M | $3.7M | $3.4M | $3.2M | $3.8M | $3.9M | $3.7M |
| Total liabilities | $6.25B | $5.39B | $5.68B | $5.19B | $4.69B | $5.40B | $4.96B | $5.23B | $4.31B | $4.45B | $4.50B | $5.05B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.0M | $875,000 | $718,000 | $709,000 | $663,000 | $659,000 | $617,000 | $607,000 | $506,000 | $488,000 | $484,000 | $484,000 |
| Retained earnings (deficit) | −$3.63B | −$3.63B | −$3.58B | −$3.60B | −$3.63B | −$3.58B | −$3.57B | −$3.54B | −$3.55B | −$3.51B | −$3.52B | −$3.52B |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | $789,000 | $173,000 | $361,000 | $648,000 | $535,000 | $698,000 | $882,999 |
| Total shareholders' equity | $990.3M | $876.4M | $797.5M | $769.6M | $709.4M | $759.2M | $730.7M | $857.0M | $759.2M | $785.6M | $782.7M | $785.0M |
| Key figures | ||||||||||||
| Total debt | $6.21B | $5.34B | $5.62B | $5.15B | $4.64B | $5.36B | $4.89B | $5.18B | $4.26B | $4.39B | $4.46B | $4.99B |
| Net cash (debt) | −$6.14B | −$5.29B | −$5.56B | −$5.09B | −$4.58B | −$5.31B | −$4.82B | −$5.14B | −$4.20B | −$4.33B | −$4.38B | −$4.82B |
| Working capital | −$5.92B | −$5.29B | −$5.51B | −$5.01B | −$4.49B | −$5.35B | −$4.85B | −$5.05B | −$4.21B | −$4.17B | −$4.39B | −$4.66B |
| Tangible book value | $990.3M | $876.4M | $797.5M | $769.6M | $709.4M | $759.2M | $730.7M | $857.0M | $759.2M | $785.6M | $782.7M | $785.0M |
| Book value per share | $9.62 | $10.02 | $12.03 | $11.34 | $10.68 | $12.12 | $12.02 | $15.31 | $15.38 | $16.22 | $16.16 | $17.16 |
| Shares outstanding | 102.9M | 87.5M | 66.3M | 67.8M | 66.4M | 62.6M | 60.8M | 56.0M | 49.4M | 48.4M | 48.4M | 45.7M |
| Current ratio | 0.05 | 0.01 | 0.03 | 0.03 | 0.04 | 0.01 | 0.02 | 0.03 | 0.02 | 0.05 | 0.02 | 0.08 |
| Quick ratio | 0.01 | 0.02 | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.04 |
| Debt / equity | 6.27 | 6.09 | 7.05 | 6.69 | 6.54 | 7.06 | 6.70 | 6.05 | 5.61 | 5.59 | 5.70 | 6.36 |
| Equity / assets | 13.7% | 14.0% | 12.3% | 12.9% | 13.1% | 12.3% | 12.8% | 14.1% | 15.0% | 15.0% | 14.8% | 13.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 23, 2026); data from EODHD.
IVR financial position
At the end of fiscal 2025 (December 31, 2025), Invesco Mortgage Capital had total assets of $6.5 billion (up 13.9% from a year earlier), total liabilities of $5.7 billion and shareholders' equity of $797.5 million. It held $56.0 million in cash and short-term investments against $5.6 billion of debt, net debt of $5.6 billion. Its current ratio was 0.04. In the latest quarter (ended June 30, 2026) total assets were $7.2 billion and equity $990.3 million.
Related: IVR income statement, IVR cash flow statement, IVR key metrics. See the IVR stock overview for the latest quote and news.
IVR balance sheet FAQ
What are Invesco Mortgage Capital's total assets?
Invesco Mortgage Capital reported total assets of $6.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.7 billion a year earlier.
How much debt does Invesco Mortgage Capital have?
Invesco Mortgage Capital had $5.6 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 7.05.
How much cash does Invesco Mortgage Capital have?
Invesco Mortgage Capital held $56.0 million in cash and short-term investments at the end of fiscal 2025; with $5.6 billion of debt that is net debt of $5.6 billion.
What is Invesco Mortgage Capital's book value?
Invesco Mortgage Capital's shareholders' equity (book value) was $797.5 million at the end of fiscal 2025, or $12.03 per share.
What is Invesco Mortgage Capital's current ratio?
Invesco Mortgage Capital had current assets of $198.7 million and current liabilities of $5.6 billion, a current ratio of 0.04 (current liabilities exceed current assets).