Invesco Mortgage Capital Inc. (IVR-PB)

Invesco Mortgage Capital Inc. (IVR-PB) — VMCI valuation read

Invesco Mortgage Capital Inc. sits at VMCI 55/100, with the Real Estate sector median at 50. That 5-point spread is the first thing to note on IVR-PB: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on IVR-PB are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on IVR-PB: IVR-PB trades at 16.0x earnings, 11% below the Real Estate median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 8.0% trails the Real Estate median (10.0%) by 2.0pp. The Risk read: net debt to EBITDA of 0.2x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

IVR-PB rose 1.1% over the trailing 7 days, with a -20.8% read on a 30-day basis.