Brookfield Renew Financials

BEP

FY2025 annual

Revenue $6.4B +9.0% YoY

Net Income $712.0M +8011.1% YoY

EPS (Diluted) Not reported for FY2025

Free Cash Flow -$5.4B -121.2% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Feb 27, 2026 Currency USD FYE December

Brookfield Renew (BEP) reported $6.4B in revenue for fiscal year 2025, up 9.0% 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 BEP FY2025 2026-08-30

Brookfield Renewable’s expansion is increasingly financed by capital spending and external funding, not internally retained cash.

From FY2021 to FY2025, revenue expanded from $4.1B to $6.4B, while operating cash flow rose less quickly, from $734M to $1.1B. The more revealing shift is that free cash flow deteriorated from -$1.2B to -$5.4B as annual capital expenditures reached $6.6B, indicating that reported earnings are not funding the pace of asset investment.

The balance sheet has grown alongside the investment program, but leverage increased: debt-to-equity rose from 0.9x in FY2021 to 1.8x in FY2025. That combination points to growth funded through both additional obligations and capital markets rather than operating cash alone.

Liquidity has become structurally tighter as current assets rose to $12.3B while current liabilities reached $21.7B in FY2025, leaving a current ratio of 0.6x. Net income and cash generation diverged: FY2025 net income was $712M, yet free cash flow remained negative because investment needs exceeded operating inflows.

Financial Health Signals

Financial Health Score 33/100

Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Brookfield Renew'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.

Profitability

Not available for Brookfield Renew, and counted as zero in the overall score.

Growth

Leverage

Liquidity

Cash Flow

Returns

Not available for Brookfield Renew, and counted as zero in the overall score.

Piotroski F-Score Partial

5/6

Brookfield Renew passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.61x

For every $1 of reported earnings, Brookfield Renew generates $1.61 in operating cash flow ($1.1B OCF vs $712.0M 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

$6.4B

YoY+9.0%

5Y CAGR+11.0%

10Y CAGR+14.7%

Brookfield Renew generated $6.4B in revenue in fiscal year 2025. This represents an increase of 9.0% from the prior year.

Net Income

$712.0M

YoY+8011.1%

10Y CAGR+21.3%

Brookfield Renew reported $712.0M in net income in fiscal year 2025. This represents an increase of 8011.1% from the prior year.

EBITDA

Not reported for fiscal year 2025.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$5.4B

YoY-121.2%

Brookfield Renew recorded an outflow of $5.4B in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 121.2% from the prior year.

Cash & Debt

$2.1B

YoY-33.2%

5Y CAGR+28.1%

10Y CAGR+42.0%

Brookfield Renew held $2.1B in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share

Not reported for fiscal year 2025.

Shares Outstanding

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

11.1%

YoY+11.3pp

5Y CAGR+12.3pp

10Y CAGR+4.8pp

Brookfield Renew's net profit margin was 11.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11.3 percentage points from the prior year.

Return on Equity

2.0%

YoY+2.1pp

5Y CAGR+2.3pp

10Y CAGR+0.9pp

Brookfield Renew's ROE was 2.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Capital Expenditures

$6.6B

YoY+76.5%

5Y CAGR+71.3%

Brookfield Renew invested $6.6B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 76.5% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

BEP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BEP quarterly income statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Revenue	$6.4B+9.0%	$5.9B+16.6%	$5.0B+6.9%	$4.7B+15.0%	$4.1B+7.5%	$3.8B-4.1%	$4.0B+4.6%	$3.8B+37.0%	$2.8B+13.1%	$2.5B+50.6%	$1.6B
Income Tax	-$614.0M-221.5%	-$191.0M-297.9%	-$48.0M-2300.0%	-$2.0M-114.3%	$14.0M+109.5%	-$147.0M-441.9%	$43.0M+112.5%	-$343.0M-597.1%	$69.0M+30.2%	$53.0M-11.7%	$60.0M
Net Income	$712.0M+8011.1%	-$9.0M-101.5%	$616.0M+346.4%	$138.0M+309.1%	-$66.0M-46.7%	-$45.0M-156.3%	$80.0M-86.3%	$583.0M+14475.0%	$4.0M-90.0%	$40.0M-61.2%	$103.0M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$1.7B	N/A	$1.5B	N/A	$1.2B	N/A	$1.3B
Income Tax	N/A	-$197.0M	N/A	$19.0M	N/A	$19.0M	N/A	$62.0M
Net Income	N/A	$100.0M	N/A	-$88.0M	N/A	$151.0M	N/A	$122.0M

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

BEP Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BEP quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Total Assets	$98.7B+4.1%	$94.8B+24.5%	$76.1B+18.7%	$64.1B+14.8%	$55.9B+12.4%	$49.7B+7.6%	$46.2B+6.2%	$43.5B+40.8%	$30.9B+11.4%	$27.7B	N/A
Current Assets	$12.3B+39.2%	$8.8B+91.6%	$4.6B+10.2%	$4.2B+44.8%	$2.9B+65.8%	$1.7B-13.8%	$2.0B-17.8%	$2.5B+47.5%	$1.7B+83.7%	$907.0M	N/A
Cash & Equivalents	$2.1B-33.2%	$3.1B+174.8%	$1.1B+14.3%	$998.0M+10.9%	$900.0M+48.3%	$607.0M+25.7%	$483.0M+14.5%	$422.0M-54.5%	$927.0M+315.7%	$223.0M+254.0%	$63.0M
Inventory	$177.0M+14.9%	$154.0M+38.7%	$111.0M+164.3%	$42.0M+35.5%	$31.0M+19.2%	$26.0M-39.5%	$43.0M	N/A	N/A	N/A	N/A
Accounts Receivable	$2.5B+19.7%	$2.1B+40.0%	$1.5B-18.4%	$1.9B+10.5%	$1.7B+81.4%	$928.0M-5.2%	$979.0M+20.3%	$814.0M+46.9%	$554.0M+22.0%	$454.0M	N/A
Goodwill	$6.0B+10.8%	$5.4B+179.5%	$1.9B+27.4%	$1.5B+58.0%	$966.0M-0.4%	$970.0M+2.2%	$949.0M+0.1%	$948.0M+5.2%	$901.0M+0.6%	$896.0M	N/A
Total Liabilities	$63.7B+9.2%	$58.4B+26.4%	$46.1B+22.0%	$37.8B+18.7%	$31.9B+14.0%	$28.0B+8.7%	$25.7B+52.2%	$16.9B+1.7%	$16.6B+10.3%	$15.1B	N/A
Current Liabilities	$21.7B+49.0%	$14.6B+81.2%	$8.0B+62.6%	$4.9B+53.4%	$3.2B+16.7%	$2.8B+13.9%	$2.4B-9.7%	$2.7B+6.7%	$2.5B+45.1%	$1.7B	N/A
Long-Term Debt	N/A	N/A	N/A	$24.9B+15.4%	$21.5B+19.1%	$18.1B+4.5%	$17.3B+61.4%	$10.7B-8.9%	$11.8B0.0%	$11.8B+15.6%	$10.2B
Total Equity	$35.0B-4.1%	$36.5B+21.6%	$30.0B+14.0%	$26.3B+9.5%	$24.0B+10.2%	$21.8B+6.3%	$20.5B+5.6%	$19.4B+24.7%	$15.6B+22.8%	$12.7B+44.6%	$8.8B

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$98.7B+0.1%	$98.6B+4.0%	$94.8B+28.5%	$73.8B-3.1%	$76.1B+15.5%	$65.9B+2.8%	$64.1B+12.4%	$57.0B
Current Assets	$12.3B+57.5%	$7.8B-11.6%	$8.8B+110.3%	$4.2B-8.9%	$4.6B+27.4%	$3.6B-13.5%	$4.2B+32.5%	$3.2B
Cash & Equivalents	$2.1B+9.8%	$1.9B-39.2%	$3.1B+153.6%	$1.2B+8.3%	$1.1B-5.1%	$1.2B+20.4%	$998.0M-5.8%	$1.1B
Inventory	$177.0M+8.6%	$163.0M+5.8%	$154.0M+23.2%	$125.0M+12.6%	$111.0M+177.5%	$40.0M-4.8%	$42.0M-44.7%	$76.0M
Accounts Receivable	$2.5B+3.2%	$2.5B+16.0%	$2.1B+30.3%	$1.6B+7.4%	$1.5B-7.1%	$1.6B-12.2%	$1.9B-0.2%	$1.9B
Goodwill	$6.0B-1.9%	$6.1B+12.9%	$5.4B+187.8%	$1.9B-2.9%	$1.9B+21.3%	$1.6B+5.0%	$1.5B+28.8%	$1.2B
Total Liabilities	$63.7B-2.4%	$65.3B+11.9%	$58.4B+27.4%	$45.8B-0.7%	$46.1B+23.4%	$37.4B-1.2%	$37.8B+11.2%	$34.0B
Current Liabilities	$21.7B+22.6%	$17.7B+21.5%	$14.6B+80.8%	$8.1B+0.2%	$8.0B+103.2%	$4.0B-20.0%	$4.9B+14.2%	$4.3B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$24.4B-1.8%	$24.9B+6.1%	$23.4B
Total Equity	$35.0B+4.9%	$33.3B-8.6%	$36.5B+30.3%	$28.0B-6.7%	$30.0B+5.1%	$28.5B+8.5%	$26.3B+14.3%	$23.0B

Not reported in any period shown, so not listed: Retained Earnings.

BEP Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BEP quarterly cash flow statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Operating Cash Flow	$1.1B-10.0%	$1.3B-31.7%	$1.9B+9.0%	$1.7B+133.1%	$734.0M-43.4%	$1.3B-16.6%	$1.6B+20.8%	$1.3B+108.8%	$616.0M-2.5%	$632.0M+7.5%	$588.0M
Capital Expenditures	$6.6B+76.5%	$3.7B+32.9%	$2.8B+28.3%	$2.2B+11.3%	$2.0B+340.0%	$447.0M-2.8%	$460.0M+69.7%	$271.0M-24.1%	$357.0M-3.3%	$369.0M	N/A
Free Cash Flow	-$5.4B-121.2%	-$2.5B-160.5%	-$944.0M-97.1%	-$479.0M+61.2%	-$1.2B-245.2%	$849.0M-22.4%	$1.1B+7.8%	$1.0B+291.9%	$259.0M-1.5%	$263.0M	N/A
Investing Cash Flow	-$8.6B-27.2%	-$6.8B-56.1%	-$4.4B+14.0%	-$5.1B-99.1%	-$2.5B-566.0%	-$382.0M+68.5%	-$1.2B-12.4%	-$1.1B-25.2%	-$860.0M+73.0%	-$3.2B-412.2%	-$623.0M
Financing Cash Flow	$6.4B-16.1%	$7.6B+194.6%	$2.6B-25.6%	$3.5B+62.8%	$2.1B+370.6%	-$792.0M-97.0%	-$402.0M+41.2%	-$684.0M-172.5%	$944.0M-65.2%	$2.7B+8309.1%	-$33.0M
Dividends Paid	$1.1B+7.4%	$1.1B+7.2%	$990.0M+8.2%	$915.0M+7.1%	$854.0M+11.1%	$769.0M+12.4%	$684.0M+6.4%	$643.0M+8.8%	$591.0M+13.2%	$522.0M+13.2%	$461.0M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	$379.0M	N/A	$231.0M	N/A	$382.0M	N/A	$438.0M
Capital Expenditures	N/A	$1.5B	N/A	$820.0M	N/A	$484.0M	N/A	$449.0M
Free Cash Flow	N/A	-$1.1B	N/A	-$589.0M	N/A	-$102.0M	N/A	-$11.0M
Investing Cash Flow	N/A	-$3.1B	N/A	-$894.0M	N/A	-$200.0M	N/A	-$536.0M
Financing Cash Flow	N/A	$2.6B	N/A	$508.0M	N/A	-$130.0M	N/A	$267.0M
Dividends Paid	N/A	$281.0M	N/A	$271.0M	N/A	$246.0M	N/A	$228.0M

Not reported in any period shown, so not listed: Share Buybacks.

BEP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

BEP quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Net Margin	11.1%+11.3pp	-0.1%-12.4pp	12.2%+9.3pp	2.9%+4.5pp	-1.6%-0.4pp	-1.2%-3.2pp	2.0%-13.3pp	15.3%+15.2pp	0.1%-1.5pp	1.6%-4.7pp	6.3%
Return on Equity	2.0%+2.1pp	0.0%-2.1pp	2.1%+1.5pp	0.5%+0.8pp	-0.3%-0.1pp	-0.2%-0.6pp	0.4%-2.6pp	3.0%+3.0pp	0.0%-0.3pp	0.3%-0.9pp	1.2%
Return on Assets	0.7%+0.7pp	0.0%-0.8pp	0.8%+0.6pp	0.2%+0.3pp	-0.1%0.0pp	-0.1%-0.3pp	0.2%-1.2pp	1.3%+1.3pp	0.0%-0.1pp	0.1%	N/A
Current Ratio	0.570.0x	0.610.0x	0.57-0.3x	0.85-0.1x	0.90+0.3x	0.63-0.2x	0.83-0.1x	0.92+0.3x	0.66+0.1x	0.52	N/A
Debt-to-Equity	1.82+0.2x	1.60+0.1x	1.54+0.6x	0.950.0x	0.90+0.1x	0.830.0x	0.84+0.3x	0.55-0.2x	0.76-0.2x	0.93-0.2x	1.16
FCF Margin	-84.9%-43.1pp	-41.9%-23.1pp	-18.7%-8.6pp	-10.2%+19.9pp	-30.1%-52.4pp	22.3%-5.3pp	27.6%+0.8pp	26.7%+17.4pp	9.3%-1.4pp	10.7%	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Net Margin	N/A	5.9%	N/A	-5.9%	N/A	12.5%	N/A	9.6%
Return on Equity	N/A	0.3%	N/A	-0.3%	N/A	0.5%	N/A	0.5%
Return on Assets	N/A	0.1%	N/A	-0.1%	N/A	0.2%	N/A	0.2%
Current Ratio	0.57+0.1x	0.44-0.2x	0.61+0.1x	0.52-0.1x	0.57-0.3x	0.91+0.1x	0.85+0.1x	0.73
Debt-to-Equity	1.82-0.1x	1.96+0.4x	1.600.0x	1.64+0.1x	1.54+0.7x	0.86-0.1x	0.95-0.1x	1.02
FCF Margin	N/A	-65.0%	N/A	-39.7%	N/A	-8.5%	N/A	-0.9%

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

Note: The current ratio is below 1.0 (0.57), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Where Brookfield Renew Ranks

Frequently Asked Questions

What is Brookfield Renew's annual revenue?

Brookfield Renew (BEP) reported $6.4B in total revenue for fiscal year 2025. This represents a 9.0% 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 Renew's revenue growing?

Brookfield Renew (BEP) revenue grew by 9.0% year-over-year, from $5.9B to $6.4B in fiscal year 2025.

Is Brookfield Renew profitable?

Yes, Brookfield Renew (BEP) reported a net income of $712.0M in fiscal year 2025, with a net profit margin of 11.1%.

What is Brookfield Renew's net profit margin?

Brookfield Renew (BEP) had a net profit margin of 11.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

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

Brookfield Renew (BEP) has a return on equity of 2.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brookfield Renew's free cash flow?

Brookfield Renew (BEP) recorded an outflow of $5.4B in free cash flow during fiscal year 2025. This represents a -121.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Brookfield Renew's operating cash flow?

Brookfield Renew (BEP) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brookfield Renew's total assets?

Brookfield Renew (BEP) had $98.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brookfield Renew's capital expenditures?

Brookfield Renew (BEP) invested $6.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Brookfield Renew's current ratio?

Brookfield Renew (BEP) had a current ratio of 0.57 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Brookfield Renew's debt-to-equity ratio?

Brookfield Renew (BEP) had a debt-to-equity ratio of 1.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Brookfield Renew (BEP) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brookfield Renew's Piotroski F-Score?

Brookfield Renew (BEP) has a Piotroski F-Score of 5 out of 6 computable signals; 3 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 Renew's earnings high quality?

Brookfield Renew (BEP) has an earnings quality ratio of 1.61x, 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 Renew?

Brookfield Renew (BEP) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.