Brookfield Business Partners L.P.Limited Partnership Units (BBU) Financials

BBU

FY2025 annual

Revenue $27.5B -32.4% YoY

Net Income $387.0M -56.8% YoY

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $3.2B -1.6% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 31, 2026 Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Mar 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BBU SEC filings page.

Brookfield Business Partners L.P.Limited Partnership Units (BBU) reported $27.5B in revenue for fiscal year 2025, down 32.4% from the prior fiscal year. This page shows its 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 2026-10-03

Brookfield Business Partners is becoming less revenue-heavy while cash generation remains resilient, but reported earnings and equity have weakened.

In FY2025, operating cash flow was $3.23B versus net income of $387M, making accounting earnings a poor standalone measure of current cash economics. Depreciation and amortization of $3.03B helps explain why cash generation substantially exceeded reported profit.

Revenue was $27.5B in FY2025 versus $55.1B in FY2023, a halving that makes scale look less central to cash generation. Over the same span, operating cash flow rose from $2.13B to $3.23B, implying the revenue contraction did not translate proportionally into cash economics.

Liabilities were $60.5B against $75.8B of assets in FY2025, so the business remains largely financed by obligations rather than equity. Equity fell from $17.3B in FY2024 to $15.3B in FY2025, meaning improved short-term liquidity should not be mistaken for a stronger capital base.

Financial Health Signals

Financial health score not available

Brookfield Business Partners L.P.Limited Partnership Units does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Brookfield Business Partners L.P.Limited Partnership Units passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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 L.P.Limited Partnership Units 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

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$3.5B

YoY+9.5%

QoQ+6.5%

Brookfield Business Partners L.P.Limited Partnership Units held $3.5B in cash against $611.0M in long-term debt as of Q4 2025, with $9.0B of liabilities due within a year.

Shares Outstanding

88M

YoY+18.1%

Brookfield Business Partners L.P.Limited Partnership Units had 88M shares outstanding in Q4 2025. This represents an increase of 18.1% from the same quarter a year earlier.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

BBU Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BBU quarterly income statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Revenue	$27.5B-32.4%	$40.6B-26.2%	$55.1B-4.0%	$57.4B+23.2%	$46.6B+23.8%	$37.6B-12.5%	$43.0B+15.8%	$37.2B+62.9%	$22.8B+186.7%	$8.0B+17.9%	$6.8B
Interest Expense	$50.0M-20.6%	$63.0M-8.7%	$69.0M+9.5%	$63.0M+21.2%	$52.0M-10.3%	$58.0M+18.4%	$49.0M	N/A	N/A	N/A	N/A
Income Tax	$93.0M+130.9%	-$301.0M-447.3%	-$55.0M+82.8%	-$319.0M-293.3%	$165.0M+7.1%	$154.0M-19.8%	$192.0M+95.9%	$98.0M+1125.0%	$8.0M+150.0%	-$16.0M-129.6%	$54.0M
Net Income	$387.0M-56.8%	$895.0M-76.3%	$3.8B+1473.8%	$240.0M-88.9%	$2.2B+271.2%	$580.0M+33.6%	$434.0M-63.9%	$1.2B+459.5%	$215.0M+206.4%	-$202.0M-175.1%	$269.0M

Metric	Q4'2520-F	Q2'256-K	Q4'2420-F	Q2'246-K	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$6.7B-44.0%	N/A	$11.9B-11.6%	N/A	$13.5B-7.5%	N/A	$14.6B+30.0%
Net Income	N/A	$135.0M+107.7%	N/A	$65.0M+58.5%	N/A	$41.0M-85.4%	N/A	$280.0M+1065.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

BBU Balance Sheet

BBU quarterly balance sheet

Metric	FY2520-F	FY2420-F	FY2320-F	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Total Assets	$75.8B+0.4%	$75.5B-8.4%	$82.4B-7.7%	$89.3B+39.0%	$64.2B+17.3%	$54.7B+5.8%	$51.8B+89.4%	$27.3B+72.9%	$15.8B+92.9%	$8.2B	N/A
Current Assets	$15.0B-1.9%	$15.3B+3.1%	$14.9B-18.6%	$18.3B+18.7%	$15.4B+6.4%	$14.5B+13.3%	$12.8B+30.8%	$9.8B+52.0%	$6.4B+57.8%	$4.1B	N/A
Cash & Equivalents	$3.5B+9.5%	$3.2B-0.4%	$3.3B+13.3%	$2.9B+10.9%	$2.6B-5.7%	$2.7B+38.1%	$2.0B+1.9%	$1.9B+76.2%	$1.1B+5.3%	$1.1B+196.6%	$354.0M
Inventory	$2.6B+6.0%	$2.4B-34.1%	$3.7B-29.3%	$5.2B+14.9%	$4.5B+22.1%	$3.7B+5.9%	$3.5B+123.4%	$1.6B+46.3%	$1.1B+366.4%	$229.0M	N/A
Accounts Receivable	$6.5B+26.5%	$5.2B-6.8%	$5.6B-13.2%	$6.4B+29.4%	$4.9B+14.8%	$4.3B-10.4%	$4.8B+11.6%	$4.3B+24.7%	$3.5B+102.8%	$1.7B	N/A
Goodwill	$13.3B+8.8%	$12.2B-13.4%	$14.1B-8.7%	$15.5B+80.3%	$8.6B+63.7%	$5.2B+0.5%	$5.2B+116.4%	$2.4B+55.1%	$1.6B+34.9%	$1.2B	N/A
Total Liabilities	$60.5B+3.9%	$58.2B-8.9%	$63.9B-9.8%	$70.8B+38.3%	$51.2B+18.0%	$43.4B+6.7%	$40.7B+95.4%	$20.8B+113.8%	$9.7B+134.4%	$4.2B	N/A
Current Liabilities	$9.0B-26.2%	$12.2B-15.2%	$14.4B-13.9%	$16.7B+19.9%	$13.9B+14.7%	$12.1B+10.1%	$11.0B+22.3%	$9.0B+58.5%	$5.7B+122.6%	$2.6B	N/A
Non-Current Liabilities	$51.5B+11.9%	$46.0B-7.1%	$49.5B-8.6%	$54.1B+45.1%	$37.3B+19.3%	$31.3B+5.4%	$29.7B+151.3%	$11.8B+191.6%	$4.0B+153.3%	$1.6B	N/A
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+3.0%	$1.1B-89.8%	$10.9B+232.8%	$3.3B+110.5%	$1.6B	N/A
Total Equity	$15.3B-11.5%	$17.3B-6.6%	$18.5B+0.6%	$18.4B+41.6%	$13.0B+14.8%	$11.3B+2.6%	$11.1B+70.2%	$6.5B+12.2%	$5.8B+43.4%	$4.0B+30.9%	$3.1B

Metric	Q4'2520-F	Q2'256-K	Q4'2420-F	Q2'246-K	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$75.8B+0.4%	$75.3B-7.6%	$75.5B-8.4%	$81.5B-9.7%	$82.4B-7.7%	$90.3B+16.8%	$89.3B+39.0%	$77.3B+44.4%
Current Assets	$15.0B-1.9%	$15.9B+7.3%	$15.3B+3.1%	$14.8B-21.2%	$14.9B-18.6%	$18.8B+4.1%	$18.3B+18.7%	$18.0B+27.1%
Cash & Equivalents	$3.5B+9.5%	$3.3B+12.5%	$3.2B-0.4%	$3.0B-2.1%	$3.3B+13.3%	$3.0B+26.0%	$2.9B+10.9%	$2.4B+15.6%
Inventory	$2.6B+6.0%	$2.9B-26.3%	$2.4B-34.1%	$3.9B-21.6%	$3.7B-29.3%	$5.0B-9.3%	$5.2B+14.9%	$5.5B+38.5%
Accounts Receivable	$6.5B+26.5%	$6.2B+8.4%	$5.2B-6.8%	$5.7B-8.0%	$5.6B-13.2%	$6.2B+5.1%	$6.4B+29.4%	$5.9B+30.9%
Goodwill	$13.3B+8.8%	$13.3B-4.5%	$12.2B-13.4%	$13.9B-9.5%	$14.1B-8.7%	$15.4B+55.1%	$15.5B+80.3%	$9.9B+87.5%
Total Liabilities	$60.5B+3.9%	$60.0B-5.2%	$58.2B-8.9%	$63.3B-11.3%	$63.9B-9.8%	$71.4B+12.9%	$70.8B+38.3%	$63.3B+49.5%
Current Liabilities	$9.0B-26.2%	$9.5B-35.4%	$12.2B-15.2%	$14.8B-11.1%	$14.4B-13.9%	$16.6B+5.5%	$16.7B+19.9%	$15.8B+22.8%
Non-Current Liabilities	$51.5B+11.9%	$50.5B+4.0%	$46.0B-7.1%	$48.5B-11.4%	$49.5B-8.6%	$54.8B+15.4%	$54.1B+45.1%	$47.5B+61.1%
Long-Term Debt	$611.0M-16.2%	$611.0M-40.9%	$729.0M-34.0%	$1.0B-15.8%	$1.1B-13.3%	$1.2B+4.1%	$1.3B-1.5%	$1.2B+8.9%
Total Equity	$15.3B-11.5%	$15.3B-15.8%	$17.3B-6.6%	$18.2B-3.6%	$18.5B+0.6%	$18.9B+34.6%	$18.4B+41.6%	$14.0B+25.4%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Retained Earnings.

BBU Cash Flow Statement

BBU quarterly cash flow statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
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+94.4%	$2.2B+61.3%	$1.3B+2015.7%	-$70.0M-130.6%	$229.0M-31.0%	$332.0M
Depreciation & Amortization	$3.0B-5.4%	$3.2B-10.8%	$3.6B+11.4%	$3.2B+41.2%	$2.3B+5.5%	$2.2B+20.0%	$1.8B+141.2%	$748.0M+101.6%	$371.0M+29.7%	$286.0M+11.3%	$257.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$1.4B+16.6%	$1.2B+121.1%	$545.0M+127.1%	$240.0M+66.7%	$144.0M+3.6%	$139.0M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$2.8B+192.3%	$958.0M+20.4%	$796.0M+356.8%	-$310.0M-464.7%	$85.0M-56.0%	$193.0M
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+87.0%	-$17.9B-348.6%	-$4.0B-150.7%	-$1.6B-1561.5%	-$96.0M+95.4%	-$2.1B
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-106.8%	$15.9B+347.2%	$3.6B+107.9%	$1.7B+192.3%	$586.0M-70.3%	$2.0B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$11.0M-97.6%	$460.0M

Metric	Q4'2520-F	Q2'256-K	Q4'2420-F	Q2'246-K	Q4'23	Q2'23	Q4'22	Q2'22

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

BBU Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BBU quarterly financial ratios

Metric	FY2520-F	FY2420-F	FY2320-F	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Net Margin	1.4%-0.8pp	2.2%-4.7pp	6.9%+6.4pp	0.4%-4.2pp	4.6%+3.1pp	1.5%+0.5pp	1.0%-2.2pp	3.2%+2.3pp	0.9%+3.5pp	-2.5%-6.5pp	4.0%
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%+1.2pp	3.9%-14.6pp	18.5%+14.8pp	3.7%+8.7pp	-5.0%-13.7pp	8.7%
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%+0.2pp	0.8%-3.6pp	4.4%+3.0pp	1.4%+3.8pp	-2.5%	N/A
Current Ratio	1.67+0.4x	1.26+0.2x	1.04-0.1x	1.100.0x	1.11-0.1x	1.190.0x	1.16+0.1x	1.080.0x	1.13-0.5x	1.59	N/A
Debt-to-Equity	0.040.0x	0.040.0x	0.060.0x	0.070.0x	0.100.0x	0.100.0x	0.10-1.6x	1.67+1.1x	0.56+0.2x	0.38	N/A
Asset Turnover	0.36-0.2x	0.54-0.1x	0.670.0x	0.64-0.1x	0.730.0x	0.69-0.1x	0.83-0.5x	1.36-0.1x	1.44+0.5x	0.97	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	7.4%+5.2pp	2.2%+0.1pp	2.1%+3.5pp	-1.4%-2.4pp	1.1%-1.8pp	2.9%

Metric	Q4'2520-F	Q2'256-K	Q4'2420-F	Q2'246-K	Q4'23	Q2'23	Q4'22	Q2'22
Net Margin	N/A	2.0%+1.5pp	N/A	0.5%+0.2pp	N/A	0.3%-1.6pp	N/A	1.9%+2.2pp
Return on Equity	N/A	0.9%+0.5pp	N/A	0.4%+0.1pp	N/A	0.2%-1.8pp	N/A	2.0%+2.3pp
Return on Assets	N/A	0.2%+0.1pp	N/A	0.1%0.0pp	N/A	0.1%-0.3pp	N/A	0.4%+0.4pp
Current Ratio	1.67+0.4x	1.67+0.7x	1.26+0.2x	1.00-0.1x	1.04-0.1x	1.130.0x	1.100.0x	1.140.0x
Debt-to-Equity	0.040.0x	0.040.0x	0.040.0x	0.060.0x	0.060.0x	0.060.0x	0.070.0x	0.080.0x
Asset Turnover	N/A	0.09-0.1x	N/A	0.150.0x	N/A	0.150.0x	N/A	0.190.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Brookfield Business Partners L.P.Limited Partnership Units BBU	FY2025	$27.5B	$387.0M	1.4%	$2.8B	—
Otter Tail Corp OTTR	FY2025	$1.3B	$275.9M	21.2%	$3.7B	60/100
Seaboard Corporation SEB	FY2025	$9.7B	$501.0M	5.1%	$3.9B	41/100
Valmont Industries, Inc. VMI	FY2025	$4.1B	$350.3M	8.5%	$9.0B	58/100
Deluxe Corporation DLX	FY2025	$2.1B	$82.1M	3.9%	$1.0B	42/100
Matthews International Corp MATW	FY2025	$1.5B	-$24.5M	-1.6%	$611.2M	26/100

Where Brookfield Business Partners L.P.Limited Partnership Units Ranks

Frequently Asked Questions

What is Brookfield Business Partners L.P.Limited Partnership Units's annual revenue?

Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units's revenue growing?

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

Is Brookfield Business Partners L.P.Limited Partnership Units profitable?

Yes, Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units have?

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

What is Brookfield Business Partners L.P.Limited Partnership Units's net profit margin?

Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units's return on equity (ROE)?

Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units's operating cash flow?

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

What are Brookfield Business Partners L.P.Limited Partnership Units's total assets?

Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units have outstanding?

Brookfield Business Partners L.P.Limited Partnership Units (BBU) had 88M shares outstanding as of fiscal year 2025.

What is Brookfield Business Partners L.P.Limited Partnership Units's current ratio?

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

What is Brookfield Business Partners L.P.Limited Partnership Units's debt-to-equity ratio?

Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units's return on assets (ROA)?

Brookfield Business Partners L.P.Limited Partnership Units (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 L.P.Limited Partnership Units's Piotroski F-Score?

Brookfield Business Partners L.P.Limited Partnership Units (BBU) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 L.P.Limited Partnership Units's earnings high quality?

Brookfield Business Partners L.P.Limited Partnership Units (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.