NYSE : BAM
Brookfield Asset Management Ltd. — Financial statements
Financials · Asset Management · United States
Last price 48.26 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 77.24B
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Financial statements
Brookfield Asset Management Ltd. (BAM) reported revenue of 5.74B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 4.10B | 3.94B | 3.38B | 3.14B | 2.83B | 2.42B |
| Other Revenue | 1.64B | 873.00M | 599.00M | 920.00M | 792.00M | 664.00M |
| Revenue | 5.74B | 4.82B | 3.98B | 4.06B | 3.63B | 3.09B |
| Cost of Revenue | 1.47B | 1.37B | 1.15B | 1.05B | 700.00M | 703.00M |
| Gross Profit | 4.27B | 3.44B | 2.83B | 3.01B | 2.93B | 2.38B |
| Selling, General & Admin | 79.00M | 56.00M | 64.00M | 56.00M | 81.00M | 132.00M |
| Other Operating Expenses | 410.00M | 354.00M | 347.00M | 342.00M | 236.00M | 185.00M |
| Operating Expenses | 489.00M | 410.00M | 411.00M | 398.00M | 317.00M | 317.00M |
| Operating Income | 3.78B | 3.03B | 2.42B | 2.62B | 2.61B | 2.07B |
| Interest Expense | -427.00M | -270.00M | -115.00M | -100.00M | -354.00M | -382.00M |
| Interest & Investment Income | 1.09B | |||||
| Earnings From Equity Investments | 432.00M | 402.00M | 339.00M | 167.00M | 146.00M | 161.00M |
| Other Non Operating Income (Expenses) | -56.00M | -123.00M | -11.00M | -129.00M | 209.00M | |
| EBT Excluding Unusual Items | 3.73B | 3.04B | 2.63B | 2.55B | 3.49B | 2.06B |
| Gain (Loss) on Sale of Investments | -13.00M | -118.00M | -82.00M | 1.30B | ||
| Asset Writedown | -5.00M | |||||
| Pretax Income | 3.71B | 2.92B | 2.55B | 2.55B | 3.49B | 3.35B |
| Income Tax Expense | 649.00M | 527.00M | 438.00M | 417.00M | 627.00M | 504.00M |
| Earnings From Continuing Operations | 3.06B | 2.40B | 2.11B | 2.14B | 2.87B | 2.85B |
| Minority Interest in Earnings | -260.00M | 87.00M | 60.00M | -298.00M | -950.00M | -977.00M |
| Net Income | 2.81B | 2.48B | 2.17B | 1.84B | 1.92B | 1.87B |
| Net Income to Common | 2.81B | 2.48B | 2.17B | 1.84B | 1.92B | 1.87B |
| Shares Outstanding (Basic) | 1.61B | 1.61B | 1.60B | 1.59B | 1.64B | |
| Shares Outstanding (Diluted) | 1.62B | 1.63B | 1.61B | 1.59B | 1.64B | |
| EPS (Basic) | 1.75 | 1.54 | 1.35 | 1.16 | 1.17 | |
| EPS (Diluted) | 1.72 | 1.52 | 1.34 | 1.16 | 1.17 | |
| Free Cash Flow | 2.32B | 2.09B | 1.60B | 1.42B | -387.00M | 1.41B |
| Free Cash Flow Per Share | 1.43 | 1.28 | 0.99 | 0.89 | -0.24 | |
| Dividend Per Share | 1.88 | 1.75 | 1.52 | 1.28 | ||
| Gross Margin | 74.38% | 71.50% | 71.00% | 74.20% | 80.70% | 77.23% |
| Operating Margin | 65.85% | 62.98% | 60.68% | 64.40% | 71.96% | 66.96% |
| Profit Margin | 48.89% | 51.59% | 54.47% | 45.27% | 52.80% | 60.54% |
| Free Cash Flow Margin | 40.42% | 43.43% | 40.30% | 35.01% | -10.67% | 45.61% |
| EBITDA | 3.83B | 3.07B | 2.43B | 2.63B | 2.62B | 2.08B |
| EBITDA Margin | 66.76% | 63.82% | 61.03% | 64.75% | 72.32% | 67.31% |
| D&A For EBITDA | 52.00M | 40.00M | 14.00M | 14.00M | 13.00M | 11.00M |
| EBIT | 3.78B | 3.03B | 2.42B | 2.62B | 2.61B | 2.07B |
| EBIT Margin | 65.85% | 62.98% | 60.68% | 64.40% | 71.96% | 66.96% |
| Effective Tax Rate | 17.47% | 18.02% | 17.20% | 16.33% | 17.95% | 15.04% |
| Revenue as Reported | 5.74B | 4.82B | 3.98B | 4.06B | 3.63B | 3.09B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.50B | 1.58B | 404.00M | 2.67B | 3.54B | 2.49B |
| Cash & Short-Term Investments | 1.50B | 1.58B | 404.00M | 2.67B | 3.54B | 2.49B |
| Accounts Receivable | 339.00M | 106.00M | 225.00M | 278.00M | 245.00M | 26.00M |
| Other Receivables | 3.20B | 3.28B | 2.50B | 799.00M | 924.00M | 158.00M |
| Receivables | 3.54B | 3.39B | 2.73B | 2.93B | 2.49B | 6.92B |
| Prepaid Expenses | 128.00M | 175.00M | 124.00M | 61.00M | 40.00M | |
| Other Current Assets | 504.00M | 410.00M | 231.00M | 37.00M | ||
| Total Current Assets | 5.54B | 5.51B | 3.54B | 5.76B | 6.09B | 9.45B |
| Property, Plant & Equipment | 97.00M | 92.00M | 58.00M | 73.00M | 68.00M | 48.00M |
| Long-Term Investments | 13.45B | 10.31B | 9.61B | 7.52B | 6.88B | 13.56B |
| Goodwill | 236.00M | 236.00M | 251.00M | 251.00M | 249.00M | 249.00M |
| Other Intangible Assets | 222.00M | 234.00M | 38.00M | 42.00M | 59.00M | 64.00M |
| Long-Term Deferred Tax Assets | 529.00M | 572.00M | 586.00M | 643.00M | 739.00M | 2.27B |
| Other Long-Term Assets | 99.00M | 83.00M | ||||
| Total Assets | 20.08B | 17.05B | 14.16B | 14.29B | 14.09B | 25.64B |
| Accounts Payable | 2.03B | 599.00M | 490.00M | 537.00M | 401.00M | 561.00M |
| Accrued Expenses | 1.24B | 1.63B | 1.69B | 1.56B | 991.00M | 5.18B |
| Short-Term Debt | 462.00M | 251.00M | 198.00M | 461.00M | ||
| Current Portion of Long-Term Debt | 463.00M | 4.10B | ||||
| Other Current Liabilities | 619.00M | 444.00M | 228.00M | 122.00M | 1.26B | 234.00M |
| Total Current Liabilities | 4.36B | 3.14B | 2.66B | 2.42B | 2.65B | 10.54B |
| Long-Term Debt | 3.59B | 2.48B | ||||
| Long-Term Deferred Tax Liabilities | 214.00M | 169.00M | 46.00M | 40.00M | 17.00M | 700.00M |
| Other Long-Term Liabilities | 14.00M | 954.00M | 257.00M | 366.00M | ||
| Total Liabilities | 8.21B | 6.74B | 2.97B | 2.83B | 2.67B | 11.24B |
| Common Stock | 9.16B | 9.15B | 9.02B | 9.01B | 9.27B | 9.71B |
| Additional Paid-In Capital | 257.00M | 154.00M | 152.00M | 122.00M | ||
| Retained Earnings | -950.00M | -851.00M | -488.00M | -178.00M | 84.00M | |
| Treasury Stock | -1.12B | -526.00M | -91.00M | |||
| Comprehensive Income & Other | 165.00M | 188.00M | 162.00M | 168.00M | 153.00M | 156.00M |
| Total Common Equity | 7.51B | 8.12B | 8.75B | 9.13B | 9.51B | 9.87B |
| Minority Interest | 4.36B | 2.19B | 2.44B | 2.34B | 1.91B | 4.53B |
| Shareholders' Equity | 11.87B | 10.31B | 11.19B | 11.46B | 11.42B | 14.40B |
| Total Liabilities & Equity | 20.08B | 17.05B | 14.16B | 14.29B | 14.09B | 25.64B |
| Total Debt | 4.09B | 2.94B | 251.00M | 198.00M | 4.56B | |
| Net Cash (Debt) | -2.59B | -1.36B | 153.00M | 2.47B | 3.54B | -2.07B |
| Net Cash Per Share | -1.60 | -0.83 | 0.09 | 1.55 | 2.17 | |
| Filing Date Shares Outstanding | 1.60B | 1.61B | 1.63B | 1.64B | 1.64B | 1.64B |
| Total Common Shares Outstanding | 1.60B | 1.61B | 1.63B | 1.64B | 1.64B | 1.64B |
| Working Capital | 1.19B | 2.37B | 872.00M | 3.34B | 3.44B | -1.09B |
| Book Value Per Share | 4.70 | 5.05 | 5.37 | 5.58 | 5.81 | 6.03 |
| Tangible Book Value | 7.05B | 7.65B | 8.46B | 8.83B | 9.20B | 9.56B |
| Tangible Book Value Per Share | 4.42 | 4.75 | 5.19 | 5.40 | 5.63 | 5.83 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.81B | 2.48B | 2.17B | 1.84B | 1.92B | 1.87B |
| Depreciation & Amortization | 52.00M | 40.00M | 14.00M | 14.00M | 13.00M | 11.00M |
| Loss (Gain) From Sale of Investments | -909.00M | -301.00M | 33.00M | -288.00M | -110.00M | -162.00M |
| Loss (Gain) on Equity Investments | -171.00M | -7.00M | -122.00M | 21.00M | 22.00M | -37.00M |
| Stock-Based Compensation | 140.00M | 123.00M | 103.00M | 33.00M | -48.00M | 199.00M |
| Other Operating Activities | 500.00M | 246.00M | 283.00M | 444.00M | 196.00M | -191.00M |
| Change in Accounts Receivable | -3.00M | 32.00M | -51.00M | -200.00M | -205.00M | 68.00M |
| Change in Accounts Payable | 268.00M | -56.00M | -426.00M | -26.00M | -30.00M | 216.00M |
| Change in Other Net Operating Assets | -341.00M | -461.00M | -390.00M | -398.00M | -2.13B | -530.00M |
| Operating Cash Flow | 2.34B | 2.10B | 1.61B | 1.44B | -374.00M | 1.44B |
| Capital Expenditures | -22.00M | -9.00M | -8.00M | -17.00M | -13.00M | -35.00M |
| Cash Acquisitions | 6.00M | |||||
| Divestitures | 52.00M | 52.00M | ||||
| Investment in Securities | -366.00M | -388.00M | -1.77B | -202.00M | 1.72B | -826.00M |
| Other Investing Activities | 104.00M | 37.00M | -256.00M | |||
| Investing Cash Flow | -232.00M | -339.00M | -1.74B | -475.00M | 1.71B | -861.00M |
| Short-Term Debt Issued | 67.00M | 197.00M | 172.00M | 1.35B | ||
| Long-Term Debt Issued | 2.76B | 251.00M | ||||
| Total Debt Issued | 3.08B | 2.76B | 318.00M | 197.00M | 172.00M | 1.35B |
| Short-Term Debt Repaid | -907.00M | |||||
| Long-Term Debt Repaid | -1.61B | |||||
| Total Debt Repaid | -540.00M | -1.61B | -907.00M | |||
| Net Debt Issued (Repaid) | 2.54B | 2.76B | 318.00M | 197.00M | -1.44B | 446.00M |
| Issuance of Common Stock | 12.00M | 12.00M | 56.00M | 5.16B | 52.00M | |
| Repurchase of Common Stock | -872.00M | -412.00M | ||||
| Common Dividends Paid | -3.02B | -2.82B | -2.48B | -2.10B | -3.18B | -1.40B |
| Other Financing Activities | 345.00M | -59.00M | -15.00M | -1.00M | -811.00M | 710.00M |
| Financing Cash Flow | -1.09B | -590.00M | -2.12B | -1.84B | -280.00M | -187.00M |
| Foreign Exchange Rate Adjustments | 7.00M | -12.00M | -1.00M | -2.00M | ||
| Net Cash Flow | 1.02B | 1.18B | -2.26B | -878.00M | 1.05B | 393.00M |
| Free Cash Flow | 2.32B | 2.09B | 1.60B | 1.42B | -387.00M | 1.41B |
| Free Cash Flow Margin | 40.42% | 43.43% | 40.30% | 35.01% | -10.67% | 45.61% |
| Free Cash Flow Per Share | 1.43 | 1.28 | 0.99 | 0.89 | -0.24 | |
| Levered Free Cash Flow | 2.67B | 1.44B | 1.74B | 640.50M | 2.45B | 1.81B |
| Unlevered Free Cash Flow | 2.94B | 1.61B | 1.81B | 703.00M | 2.67B | 2.05B |
| Cash Interest Paid | 114.00M | 87.00M | 22.00M | 11.00M | 37.00M | 171.00M |
| Cash Income Tax Paid | 433.00M | 426.00M | 449.00M | 171.00M | 291.00M | 188.00M |
| Change in Working Capital | -76.00M | -485.00M | -867.00M | -624.00M | -2.36B | -246.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 82.26B | 84.47B | 22.74B | 15.72B | 11.06B | |
| Enterprise Value | 89.31B | 87.60B | 24.38B | 15.17B | 18.44B | |
| Last Close Price | 51.47 | 50.82 | 50.95 | 36.47 | 25.04 | |
| PE Ratio | 29.45 | 33.99 | 10.49 | 8.55 | 5.77 | |
| PS Ratio | 14.34 | 17.54 | 5.71 | 3.87 | 3.05 | |
| PB Ratio | 6.93 | 8.19 | 2.03 | 1.37 | 0.97 | |
| P/TBV Ratio | 11.66 | 11.04 | 2.69 | 1.78 | 1.20 | |
| P/FCF Ratio | 35.47 | 40.38 | 14.18 | 11.06 | ||
| P/OCF Ratio | 35.14 | 40.20 | 14.11 | 10.93 | ||
| EV/Sales Ratio | 15.57 | 18.19 | 6.13 | 3.73 | 5.08 | |
| EV/EBITDA Ratio | 23.32 | 28.50 | 10.04 | 5.77 | 7.03 | |
| EV/EBIT Ratio | 23.64 | 28.87 | 10.10 | 5.80 | 7.07 | |
| EV/FCF Ratio | 38.51 | 41.88 | 15.20 | 10.67 | ||
| Debt / Equity Ratio | 0.34 | 0.28 | 0.02 | 0.02 | 0.32 | |
| Debt / EBITDA Ratio | 1.07 | 0.96 | 0.10 | 0.08 | 2.20 | |
| Debt / FCF Ratio | 1.76 | 1.41 | 0.16 | 0.14 | 3.24 | |
| Net Debt / Equity Ratio | 0.22 | 0.13 | -0.01 | -0.21 | -0.31 | 0.14 |
| Net Debt / EBITDA Ratio | 0.68 | 0.44 | -0.06 | -0.94 | -1.35 | 1.00 |
| Net Debt / FCF Ratio | 1.11 | 0.65 | -0.10 | -1.74 | 9.16 | 1.47 |
| Asset Turnover | 0.32 | 0.31 | 0.28 | 0.29 | 0.18 | 0.13 |
| Quick Ratio | 1.16 | 1.58 | 1.18 | 1.55 | 1.78 | 0.25 |
| Current Ratio | 1.27 | 1.76 | 1.33 | 2.38 | 2.30 | 0.90 |
| Return on Equity (ROE) | 26.77% | 22.31% | 18.61% | 18.68% | 22.19% | 21.60% |
| Return on Assets (ROA) | 13.04% | 12.15% | 10.61% | 11.52% | 8.21% | 5.37% |
| Return on Invested Capital (ROIC) | 22.63% | 21.91% | 19.96% | 25.95% | 17.59% | 11.29% |
| Return on Capital Employed (ROCE) | 24.00% | 21.80% | 21.00% | 22.00% | 22.80% | 13.70% |
| Earnings Yield | 3.40% | 2.94% | 9.53% | 11.70% | 17.32% | |
| FCF Yield | 2.82% | 2.48% | 7.05% | 9.04% | -3.50% | |
| Dividend Yield | 3.91% | 3.33% | 10.90% | 13.31% | ||
| Payout Ratio | 115.06% | 113.40% | 114.30% | 114.25% | 166.27% | 74.64% |
| Buyback Yield / Dilution | -0.50% | -0.92% | -1.45% | 2.73% | ||
| Total Shareholder Return | 3.41% | 2.41% | 9.45% | 16.05% |