Brookfield Asset Management
BAM NYSE Asset Management & Custody Banks Financials FY2023–FY2025
Brookfield Asset Management's revenue rose 21.0% to $4.8 billion in fiscal 2025. Its net margin was 49.8%, down from 53.0% a year earlier. Free cash flow was $2.1 billion, up 30.4%. It paid out $3.2 billion in dividends and buybacks, 154% of free cash flow.
About these figures. Brookfield Asset Management's redeemable preferred interests sit between liabilities and equity on its balance sheet, so they count as neither. Its filings don't tag earnings per share or its share count in the SEC's structured data, so per-share figures are left blank. Its filings don't tag its notes as a debt balance, so debt is left blank.
What Brookfield Asset Management does
Brookfield Asset Management is an alternative asset manager based in New York. It invests money for other people and organizations, with a focus on real assets such as infrastructure, renewable power, private equity, real estate and credit (lending). It says it manages over $1 trillion of assets for more than 2,400 institutional clients, including pension plans, endowments, sovereign wealth funds and insurers, plus a growing number of private wealth investors.
It earns asset management income: fees on the money clients commit to its funds, plus performance income such as carried interest, a share of a fund's profits when investments do well. It also invests some of Brookfield's own capital alongside its clients. The amount of client money that earns fees, which it calls Fee-Bearing Capital, was $603 billion at the end of 2025. Of that, 87% is long-dated or perpetual, meaning committed for at least 10 years or with no set end date. It says it plans to pay out at least about 90% of its Distributable Earnings to shareholders each quarter.
The company has more than 5,800 investment and asset management professionals and other employees in 32 offices, and invests in more than 50 countries. It also points to about 250,000 operating employees at the businesses it manages. It is working on new growth areas such as AI infrastructure, and it joined with Oaktree in 2019.
- Legal name
- BROOKFIELD ASSET MANAGEMENT LTD.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 2, 2026
- Accession · CIK
- 0001628280-26-013098
0001937926
Revenue and margins
Brookfield Asset Management had $4.8B of revenue in fiscal 2025, up 21.0% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $2.1B in fiscal 2025, 43.4% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Brookfield Asset Management returned $3.2B to shareholders in fiscal 2025, 154% of free cash flow. The diluted share count rose 0.0%.
Value Brookfield Asset Management yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of — and divides by 0.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Balance sheet
Cash, debt and the ratios that show how comfortably Brookfield Asset Management can carry it.
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $9.0M | $404M | $1.6B |
| Interest coverage | 284.8x | 116.7x | 34.6x |
| Total assets | $3.2B | $14.2B | $17.0B |
| Total liabilities | $1.1B | $3.0B | $6.7B |
| Shareholders' equity | $2.1B | $3.2B | $8.9B |
| Net debt (− = net cash) | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 |
|---|---|---|
| Net income is positive | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ |
| Return on assets rose | — | ✕ |
| Cash from operations exceeds net income | ✕ | ✕ |
| Debt fell relative to assets | — | — |
| Current ratio rose | — | — |
| Share count didn't rise | — | — |
| Gross margin rose | — | — |
| Revenue rose relative to assets | — | ✕ |
| F-score | — / 9 | — / 9 |
| Accruals ratio | 5.7% | 1.9% |
| Altman Z'' | — | — |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Brookfield Asset Management BAM | — | 21.0% | — | 43.4% | — | — | — | |
| Carlyle Group CG | $14.2B | −11.9% | — | −70.6% | 13.7% | 40.2x | — | Compare → |
| Ares Management ARES | — | 28.9% | — | — | — | — | — | Compare → |
| TPG TPG | $17.2B | 33.4% | — | — | 15.2% | 66.6x | — | Compare → |
| Invesco IVZ | $12.8B | 5.1% | −10.9% | 22.6% | −3.8% | — | — | Compare → |
3 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $4.1B | $4.0B | $4.8B |
| Interest expense | $9.0M | $22.0M | $87.0M |
| Pretax income | $2.6B | $2.5B | $2.9B |
| Income tax | $417M | $438M | $527M |
| Net income | $2.1B | $2.1B | $2.4B |
| Cash flow | |||
| Cash from operations | $1.4B | $1.6B | $2.1B |
| Capital expenditure | $17.0M | $8.0M | $9.0M |
| Free cash flow | $1.4B | $1.6B | $2.1B |
| Depreciation and amortization | $14.0M | $14.0M | $40.0M |
| Stock-based compensation | $33.0M | $103M | $123M |
| Acquisitions | $0.0M | $0.0M | $6.0M |
| Share buybacks | $319M | $0.0M | $412M |
| Dividends paid | $2.1B | $2.5B | $2.8B |
| Dividends and buybacks | $2.4B | $2.5B | $3.2B |
| Balance sheet | |||
| Cash and short-term investments | $9.0M | $404M | $1.6B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M |
| Inventory | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | — | $58.0M | $92.0M |
| Total assets | $3.2B | $14.2B | $17.0B |
| Total liabilities | $1.1B | $3.0B | $6.7B |
| Shareholders' equity | $2.1B | $3.2B | $8.9B |
| Margins | |||
| EBITDA margin | 63.4% | 64.9% | 63.4% |
| Net margin | 52.6% | 53.0% | 49.8% |
| FCF margin | 35.0% | 40.3% | 43.4% |
| Returns | |||
| Return on equity | — | 79.2% | 39.4% |
| Return on assets | — | 24.3% | 15.4% |
| Growth | |||
| Revenue growth | — | −2.0% | 21.0% |
| Net income growth | — | −1.4% | 13.8% |
| FCF growth | — | 12.8% | 30.4% |
| Financial health | |||
| Interest coverage | 284.8x | 116.7x | 34.6x |
| Capital allocation | |||
| Capex / revenue | 0.4% | 0.2% | 0.2% |
| Stock comp / revenue | 0.8% | 2.6% | 2.6% |
| Payouts / FCF | 170.2% | 154.5% | 154.4% |
| Quality scores | |||
| Accruals ratio | — | 5.7% | 1.9% |
Source: SEC EDGAR XBRL filings (CIK 0001937926). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.