Brookfield Financials

BNJ

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

This page shows Brookfield (BNJ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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 BNJ FY2025 2026-04-22

Cash earnings are being absorbed by heavy reinvestment, leaving a large-balance-sheet business profitable on paper but free-cash-flow negative.

From FY2023 to FY2025, operating cash flow improved from $6.5B to $11.0B. Over the same span, capital spending rose from $8.1B to $14.8B, which kept free cash flow negative and points to reinvestment intensity rather than collapsing cash earnings.

With $519.0B of assets generating only a 0.6% return on assets in FY2025, profit is spread across a very large balance sheet, so small changes in asset productivity matter more than small changes in margin. Long-term debt was only $14.3B, which suggests the company's scale is not primarily built on traditional borrowing.

Goodwill increased from $28.7B in FY2022 to $43.4B in FY2025, a clue that asset growth has included purchased businesses rather than only internally built assets. At the same time, positive financing inflows in each of the last three years show expansion has leaned on external capital sources, not just retained cash from operations.

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'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's revenue declined 12.7% year-over-year, from $86.0B to $75.1B. This contraction results in a growth score of 14/100.

Leverage

100

Brookfield carries a low D/E ratio of 0.09, meaning only $0.09 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.

Cash Flow

While Brookfield generated $11.0B in operating cash flow, capex of $14.8B consumed most of it, leaving -$3.8B in free cash flow. This results in a low score of 15/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Brookfield generates a 1.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is up from 1.1% the prior year.

Piotroski F-Score Neutral

5/9

Brookfield passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.39x

For every $1 of reported earnings, Brookfield generates $3.39 in operating cash flow ($11.0B OCF vs $3.2B 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

$75.1B

YoY-12.7%

5Y CAGR+3.7%

Brookfield generated $75.1B in revenue in fiscal year 2025. This represents a decrease of 12.7% from the prior year.

EBITDA

N/A

Net Income

$3.2B

YoY+74.6%

5Y CAGR+35.5%

Brookfield reported $3.2B in net income in fiscal year 2025. This represents an increase of 74.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$3.8B

YoY-5.3%

Brookfield generated -$3.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 5.3% from the prior year.

Cash & Debt

$16.2B

YoY+7.9%

5Y CAGR+10.3%

Brookfield held $16.2B in cash against $14.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

4.3%

YoY+2.2pp

5Y CAGR+3.2pp

Brookfield's net profit margin was 4.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.2 percentage points from the prior year.

Return on Equity

1.9%

YoY+0.8pp

5Y CAGR+1.4pp

Brookfield's ROE was 1.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$14.8B

YoY+32.0%

5Y CAGR+29.7%

Brookfield invested $14.8B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 32.0% from the prior year.

BNJ Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$75.1B-12.7%	$86.0B-10.3%	$95.9B+3.4%	$92.8B+22.5%	$75.7B+20.7%	$62.8B
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	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$1.1B+15.6%	$982.0M-2.9%	$1.0B-31.2%	$1.5B-36.8%	$2.3B+177.7%	$837.0M
Net Income	$3.2B+74.6%	$1.9B-63.7%	$5.1B-1.7%	$5.2B-58.1%	$12.4B+1652.2%	$707.0M
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	$18.1B	N/A	$23.1B	N/A	$23.7B	N/A	$23.3B
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	$134.0M	N/A	$304.0M	N/A	$409.0M	N/A	$141.0M
Net Income	N/A	$1.1B	N/A	-$285.0M	N/A	$1.5B	N/A	$1.5B
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BNJ Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$519.0B+5.8%	$490.4B+0.1%	$490.1B+11.1%	$441.3B+12.9%	$391.0B+13.8%	$343.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$16.2B+7.9%	$15.1B+34.1%	$11.2B-22.0%	$14.4B+13.4%	$12.7B+27.8%	$9.9B
Inventory	$5.9B+9.3%	$5.4B-23.3%	$7.1B-22.5%	$9.1B+6.4%	$8.6B+35.0%	$6.3B
Accounts Receivable	$22.8B+12.3%	$20.3B+0.1%	$20.3B+4.0%	$19.5B+21.1%	$16.1B+13.5%	$14.2B
Goodwill	$43.4B+21.3%	$35.7B+2.3%	$34.9B+21.8%	$28.7B+41.7%	$20.2B+37.5%	$14.7B
Total Liabilities	$352.8B+8.5%	$325.0B+1.0%	$321.9B+7.5%	$299.4B+16.8%	$256.3B+15.9%	$221.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$14.3B+0.5%	$14.2B+17.0%	$12.2B+6.8%	$11.4B+4.7%	$10.9B+19.8%	$9.1B
Total Equity	$166.2B+0.5%	$165.4B-1.7%	$168.2B+18.6%	$141.9B+5.3%	$134.7B+9.9%	$122.6B
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	$519.0B+2.5%	$506.1B+3.2%	$490.4B-1.4%	$497.3B+1.5%	$490.1B+5.8%	$463.1B+5.0%	$441.3B+7.1%	$411.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$16.2B+18.5%	$13.7B-9.0%	$15.1B+33.8%	$11.2B+0.2%	$11.2B-9.7%	$12.4B-13.7%	$14.4B+18.0%	$12.2B
Inventory	$5.9B-1.5%	$6.0B+11.0%	$5.4B-26.5%	$7.4B+4.5%	$7.1B-21.2%	$9.0B-1.7%	$9.1B-1.6%	$9.3B
Accounts Receivable	$22.8B+3.2%	$22.1B+8.8%	$20.3B+1.7%	$19.9B-1.6%	$20.3B-2.3%	$20.7B+6.4%	$19.5B-2.2%	$19.9B
Goodwill	$43.4B+12.1%	$38.7B+8.2%	$35.7B+4.3%	$34.3B-1.8%	$34.9B+8.0%	$32.3B+12.8%	$28.7B+29.7%	$22.1B
Total Liabilities	$352.8B+2.4%	$344.4B+6.0%	$325.0B-1.4%	$329.8B+2.5%	$321.9B+4.7%	$307.6B+2.7%	$299.4B+7.8%	$277.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$14.3B	N/A	$14.2B	N/A	$12.2B	N/A	$11.4B	N/A
Total Equity	$166.2B+2.8%	$161.6B-2.3%	$165.4B-1.3%	$167.6B-0.4%	$168.2B+8.1%	$155.6B+9.6%	$141.9B+5.9%	$134.0B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BNJ Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$11.0B+44.8%	$7.6B+17.0%	$6.5B-26.1%	$8.8B+11.1%	$7.9B-5.6%	$8.3B
Capital Expenditures	$14.8B+32.0%	$11.2B+38.5%	$8.1B+11.5%	$7.2B+5.2%	$6.9B+71.5%	$4.0B
Free Cash Flow	-$3.8B-5.3%	-$3.6B-124.9%	-$1.6B-205.7%	$1.5B+52.6%	$993.0M-77.1%	$4.3B
Investing Cash Flow	-$31.8B-6.1%	-$30.0B-0.7%	-$29.8B+24.9%	-$39.6B-88.4%	-$21.0B-51.7%	-$13.9B
Financing Cash Flow	$21.7B-19.4%	$26.9B+35.0%	$19.9B-38.6%	$32.5B+99.6%	$16.3B+87.0%	$8.7B
Dividends Paid	$719.0M+8.4%	$663.0M+10.1%	$602.0M-41.5%	$1.0B-30.8%	$1.5B+71.4%	$867.0M
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	$2.0B	N/A	$698.0M	N/A	$406.0M	N/A	$3.1B
Capital Expenditures	N/A	$2.8B	N/A	$2.4B	N/A	$1.7B	N/A	$1.7B
Free Cash Flow	N/A	-$745.0M	N/A	-$1.7B	N/A	-$1.2B	N/A	$1.5B
Investing Cash Flow	N/A	-$5.9B	N/A	-$8.3B	N/A	-$862.0M	N/A	-$15.5B
Financing Cash Flow	N/A	$5.1B	N/A	$7.4B	N/A	-$228.0M	N/A	$13.1B
Dividends Paid	N/A	$180.0M	N/A	$166.0M	N/A	$151.0M	N/A	$256.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BNJ 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	4.3%+2.2pp	2.1%-3.2pp	5.3%-0.3pp	5.6%-10.8pp	16.4%+15.2pp	1.1%
Return on Equity	1.9%+0.8pp	1.1%-1.9pp	3.0%-0.6pp	3.7%-5.5pp	9.2%+8.6pp	0.6%
Return on Assets	0.6%+0.2pp	0.4%-0.7pp	1.0%-0.1pp	1.2%-2.0pp	3.2%+3.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.090.0	0.09+0.0	0.070.0	0.080.0	0.080.0	0.07
FCF Margin	-5.1%-0.9pp	-4.2%-2.5pp	-1.7%-3.3pp	1.6%+0.3pp	1.3%-5.6pp	6.9%

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	5.8%	N/A	-1.2%	N/A	6.4%	N/A	6.3%
Return on Equity	N/A	0.7%	N/A	-0.2%	N/A	1.0%	N/A	1.1%
Return on Assets	N/A	0.2%	N/A	-0.1%	N/A	0.3%	N/A	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.09-2.0	2.13+2.0	0.09-1.9	1.97+1.9	0.07-1.9	1.98+1.9	0.08-2.0	2.07
FCF Margin	N/A	-4.1%	N/A	-7.3%	N/A	-5.3%	N/A	6.3%

Frequently Asked Questions

What is Brookfield's annual revenue?

Brookfield (BNJ) reported $75.1B in total revenue for fiscal year 2025. This represents a -12.7% 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's revenue growing?

Brookfield (BNJ) revenue declined by 12.7% year-over-year, from $86.0B to $75.1B in fiscal year 2025.

Is Brookfield profitable?

Yes, Brookfield (BNJ) reported a net income of $3.2B in fiscal year 2025, with a net profit margin of 4.3%.

How much debt does Brookfield have?

As of fiscal year 2025, Brookfield (BNJ) had $16.2B in cash and equivalents against $14.3B in long-term debt.

What is Brookfield's net profit margin?

Brookfield (BNJ) had a net profit margin of 4.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

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

Brookfield (BNJ) has a return on equity of 1.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brookfield's free cash flow?

Brookfield (BNJ) generated -$3.8B in free cash flow during fiscal year 2025. This represents a -5.3% 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's operating cash flow?

Brookfield (BNJ) generated $11.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brookfield's total assets?

Brookfield (BNJ) had $519.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brookfield's capital expenditures?

Brookfield (BNJ) invested $14.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

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

Brookfield (BNJ) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Brookfield (BNJ) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brookfield's Piotroski F-Score?

Brookfield (BNJ) 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's earnings high quality?

Brookfield (BNJ) has an earnings quality ratio of 3.39x, 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?

Brookfield (BNJ) 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.