Brookfield Business Partners Financials

BBU

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Brookfield Business Partners (BBU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BBU FY2025 2026-04-22

Brookfield Business Partners’ cash generation is holding up far better than reported earnings as the revenue base contracts.

From FY2023 to FY2025, revenue nearly halved from $55.1B to $27.5B. Yet operating cash flow held up around $3.2B even as net income slipped to $387M, which points to large non-cash charges and a business whose accounting profit now understates the cash it is still producing.

The near-term balance sheet improved even while equity declined: current liabilities fell to $9.0B in FY2025 from $14.4B in FY2023. Because current assets stayed in roughly the same range, the liquidity cushion widened to 1.7x from 1.0x, so day-to-day obligations are taking less balance-sheet strain than they did two years earlier.

The company looks less debt-funded than total liabilities alone imply, with long-term debt at just $611M against $60.5B of liabilities. But goodwill of $13.3B sits close to book equity of $15.3B, meaning much of the reported equity cushion comes from acquired intangibles rather than hard assets.

Financial Health Signals

Financial Profile 26/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Brookfield Business Partners's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Brookfield Business Partners's revenue declined 32.4% year-over-year, from $40.6B to $27.5B. This contraction results in a growth score of 0/100.

Leverage

100

Brookfield Business Partners carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Brookfield Business Partners's current ratio of 1.67 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

Brookfield Business Partners generates a 2.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 26/100. This is down from 5.2% the prior year.

Piotroski F-Score Neutral

5/9

Brookfield Business Partners passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

8.35x

For every $1 of reported earnings, Brookfield Business Partners generates $8.35 in operating cash flow ($3.2B OCF vs $387.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$27.5B

YoY-32.4%

5Y CAGR-6.1%

10Y CAGR+15.1%

Brookfield Business Partners generated $27.5B in revenue in fiscal year 2025. This represents a decrease of 32.4% from the prior year.

EBITDA

N/A

Net Income

$387.0M

YoY-56.8%

5Y CAGR-7.8%

10Y CAGR+3.7%

Brookfield Business Partners reported $387.0M in net income in fiscal year 2025. This represents a decrease of 56.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$3.5B

YoY+9.5%

5Y CAGR+5.3%

10Y CAGR+25.9%

Brookfield Business Partners held $3.5B in cash against $611.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

88M

YoY+18.1%

5Y CAGR+2.1%

Brookfield Business Partners had 88M shares outstanding in fiscal year 2025. This represents an increase of 18.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

1.4%

YoY-0.8pp

5Y CAGR-0.1pp

10Y CAGR-2.6pp

Brookfield Business Partners's net profit margin was 1.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.

Return on Equity

2.5%

YoY-2.6pp

5Y CAGR-2.6pp

10Y CAGR-6.2pp

Brookfield Business Partners's ROE was 2.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

BBU Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$27.5B-32.4%	$40.6B-26.2%	$55.1B-4.0%	$57.4B+23.2%	$46.6B+23.8%	$37.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$50.0M-20.6%	$63.0M-8.7%	$69.0M+9.5%	$63.0M+21.2%	$52.0M-10.3%	$58.0M
Income Tax	$93.0M+130.9%	-$301.0M-447.3%	-$55.0M+82.8%	-$319.0M-293.3%	$165.0M+7.1%	$154.0M
Net Income	$387.0M-56.8%	$895.0M-76.3%	$3.8B+1473.8%	$240.0M-88.9%	$2.2B+271.2%	$580.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$6.7B	N/A	$11.9B	N/A	$13.5B	N/A	$14.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	$135.0M	N/A	$65.0M	N/A	$41.0M	N/A	$280.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BBU Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$75.8B+0.4%	$75.5B-8.4%	$82.4B-7.7%	$89.3B+39.0%	$64.2B+17.3%	$54.7B
Current Assets	$15.0B-1.9%	$15.3B+3.1%	$14.9B-18.6%	$18.3B+18.7%	$15.4B+6.4%	$14.5B
Cash & Equivalents	$3.5B+9.5%	$3.2B-0.4%	$3.3B+13.3%	$2.9B+10.9%	$2.6B-5.7%	$2.7B
Inventory	$2.6B+6.0%	$2.4B-34.1%	$3.7B-29.3%	$5.2B+14.9%	$4.5B+22.1%	$3.7B
Accounts Receivable	$6.5B+26.5%	$5.2B-6.8%	$5.6B-13.2%	$6.4B+29.4%	$4.9B+14.8%	$4.3B
Goodwill	$13.3B+8.8%	$12.2B-13.4%	$14.1B-8.7%	$15.5B+80.3%	$8.6B+63.7%	$5.2B
Total Liabilities	$60.5B+3.9%	$58.2B-8.9%	$63.9B-9.8%	$70.8B+38.3%	$51.2B+18.0%	$43.4B
Current Liabilities	$9.0B-26.2%	$12.2B-15.2%	$14.4B-13.9%	$16.7B+19.9%	$13.9B+14.7%	$12.1B
Long-Term Debt	$611.0M-16.2%	$729.0M-34.0%	$1.1B-13.3%	$1.3B-1.5%	$1.3B+13.2%	$1.1B
Total Equity	$15.3B-11.5%	$17.3B-6.6%	$18.5B+0.6%	$18.4B+41.6%	$13.0B+14.8%	$11.3B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$75.8B+0.6%	$75.3B-0.2%	$75.5B-7.4%	$81.5B-1.0%	$82.4B-8.8%	$90.3B+1.2%	$89.3B+15.5%	$77.3B
Current Assets	$15.0B-5.3%	$15.9B+3.6%	$15.3B+3.5%	$14.8B-0.5%	$14.9B-20.8%	$18.8B+2.7%	$18.3B+1.4%	$18.0B
Cash & Equivalents	$3.5B+6.5%	$3.3B+2.8%	$3.2B+9.5%	$3.0B-9.0%	$3.3B+7.6%	$3.0B+5.3%	$2.9B+19.6%	$2.4B
Inventory	$2.6B-10.7%	$2.9B+18.8%	$2.4B-38.0%	$3.9B+6.2%	$3.7B-26.2%	$5.0B-4.2%	$5.2B-5.3%	$5.5B
Accounts Receivable	$6.5B+5.8%	$6.2B+19.6%	$5.2B-9.3%	$5.7B+2.7%	$5.6B-10.5%	$6.2B-3.0%	$6.4B+8.4%	$5.9B
Goodwill	$13.3B+0.2%	$13.3B+8.6%	$12.2B-12.0%	$13.9B-1.6%	$14.1B-8.1%	$15.4B-0.7%	$15.5B+56.2%	$9.9B
Total Liabilities	$60.5B+0.7%	$60.0B+3.2%	$58.2B-8.1%	$63.3B-0.8%	$63.9B-10.6%	$71.4B+0.8%	$70.8B+11.9%	$63.3B
Current Liabilities	$9.0B-5.9%	$9.5B-21.5%	$12.2B-17.7%	$14.8B+3.0%	$14.4B-13.7%	$16.6B-0.3%	$16.7B+5.8%	$15.8B
Long-Term Debt	$611.0M0.0%	$611.0M-16.2%	$729.0M-29.4%	$1.0B-6.4%	$1.1B-10.0%	$1.2B-3.7%	$1.3B+8.1%	$1.2B
Total Equity	$15.3B-0.1%	$15.3B-11.5%	$17.3B-4.9%	$18.2B-1.8%	$18.5B-1.9%	$18.9B+2.5%	$18.4B+31.3%	$14.0B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BBU Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.2B-1.6%	$3.3B+54.0%	$2.1B+110.7%	$1.0B-40.3%	$1.7B-59.7%	$4.2B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$1.4B
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$2.8B
Investing Cash Flow	-$3.2B-36.8%	-$2.3B-191.7%	$2.5B+113.6%	-$18.7B-109.7%	-$8.9B-282.4%	-$2.3B
Financing Cash Flow	$72.0M+114.3%	-$505.0M+88.4%	-$4.4B-124.2%	$18.1B+155.8%	$7.1B+755.8%	-$1.1B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BBU Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	1.4%-0.8pp	2.2%-4.7pp	6.9%+6.4pp	0.4%-4.2pp	4.6%+3.1pp	1.5%
Return on Equity	2.5%-2.6pp	5.2%-15.2pp	20.4%+19.1pp	1.3%-15.2pp	16.5%+11.4pp	5.1%
Return on Assets	0.5%-0.7pp	1.2%-3.4pp	4.6%+4.3pp	0.3%-3.1pp	3.4%+2.3pp	1.1%
Current Ratio	1.67+0.4	1.26+0.2	1.04-0.1	1.10-0.0	1.11-0.1	1.19
Debt-to-Equity	0.040.0	0.04-0.0	0.060.0	0.07-0.0	0.100.0	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	7.4%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	2.0%	N/A	0.5%	N/A	0.3%	N/A	1.9%
Return on Equity	N/A	0.9%	N/A	0.4%	N/A	0.2%	N/A	2.0%
Return on Assets	N/A	0.2%	N/A	0.1%	N/A	0.1%	N/A	0.4%
Current Ratio	1.670.0	1.67+0.4	1.26+0.3	1.00-0.0	1.04-0.1	1.13+0.0	1.10-0.0	1.14
Debt-to-Equity	0.040.0	0.040.0	0.04-0.0	0.060.0	0.060.0	0.060.0	0.07-0.0	0.08
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Brookfield Business Partners's annual revenue?

Brookfield Business Partners (BBU) reported $27.5B in total revenue for fiscal year 2025. This represents a -32.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Brookfield Business Partners's revenue growing?

Brookfield Business Partners (BBU) revenue declined by 32.4% year-over-year, from $40.6B to $27.5B in fiscal year 2025.

Is Brookfield Business Partners profitable?

Yes, Brookfield Business Partners (BBU) reported a net income of $387.0M in fiscal year 2025, with a net profit margin of 1.4%.

How much debt does Brookfield Business Partners have?

As of fiscal year 2025, Brookfield Business Partners (BBU) had $3.5B in cash and equivalents against $611.0M in long-term debt.

What is Brookfield Business Partners's net profit margin?

Brookfield Business Partners (BBU) had a net profit margin of 1.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Brookfield Business Partners's return on equity (ROE)?

Brookfield Business Partners (BBU) has a return on equity of 2.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brookfield Business Partners's operating cash flow?

Brookfield Business Partners (BBU) generated $3.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brookfield Business Partners's total assets?

Brookfield Business Partners (BBU) had $75.8B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Brookfield Business Partners have outstanding?

Brookfield Business Partners (BBU) had 88M shares outstanding as of fiscal year 2025.

What is Brookfield Business Partners's current ratio?

Brookfield Business Partners (BBU) had a current ratio of 1.67 as of fiscal year 2025, which is generally considered healthy.

What is Brookfield Business Partners's debt-to-equity ratio?

Brookfield Business Partners (BBU) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Brookfield Business Partners's return on assets (ROA)?

Brookfield Business Partners (BBU) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brookfield Business Partners's Piotroski F-Score?

Brookfield Business Partners (BBU) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Brookfield Business Partners's earnings high quality?

Brookfield Business Partners (BBU) has an earnings quality ratio of 8.35x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Brookfield Business Partners?

Brookfield Business Partners (BBU) scores 26 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.