Brookfield Property Preferred Limited (BPYPM) Financials

BPYPM

FY2025 annual

Revenue $7.1B -21.6% YoY

Net Income -$305.0M +84.7% YoY

Free Cash Flow -$1.4B -320.0% YoY

Operating Cash Flow -$595.0M -158.4% YoY

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

Newest figures come from the 10-K for FY2025, filed Feb 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BPYPM SEC filings page.

Brookfield Property Preferred Limited (BPYPM) reported $7.1B in revenue for fiscal year 2025, down 21.6% 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 BPYPM FY2025 2026-09-05

Lower interest expense narrowed reported losses, but FY2025 restored neither operating cash generation nor internally funded investment.

As revenue contracted in FY2025, net loss narrowed from $2.0B to $305M, alongside lower interest expense—an earnings improvement driven more by financing costs than business expansion. Cash conversion moved the other way: operating cash flow shifted from $1.0B positive in FY2024 to -$595M, while free cash flow fell to -$1.4B.

The 0.2x current ratio indicates a pronounced mismatch between short-term assets and obligations; FY2025 financing cash flow of $1.6B arrived while operations consumed cash, pointing to reliance on balance-sheet financing rather than internally generated liquidity.

Capital deployment became more demanding: capital expenditures rose to $758M in FY2025 even as operating cash flow was negative, so the year's free-cash-flow shortfall reflects both weak operating funding and substantial reinvestment. The low debt-to-equity ratio of 0.0x does not capture the broader liability burden represented by the company's current obligations.

Financial Health Signals

Financial Health Score 18/100

Scored against operating companies 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 Property Preferred Limited'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 Property Preferred Limited, and counted as zero in the overall score.

Growth

Brookfield Property Preferred Limited's revenue declined 21.6% year-over-year, from $9.1B to $7.1B. This contraction results in a growth score of 7/100.

Leverage

Brookfield Property Preferred Limited carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Brookfield Property Preferred Limited's current ratio of 0.23 is below the typical benchmark, resulting in a score of 1/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Brookfield Property Preferred Limited's operations used $595.0M of cash, and capex of $758.0M added to the outflow, for a free cash flow shortfall of $1.4B. This results in a cash flow score of 12/100.

Returns

Not available for Brookfield Property Preferred Limited, and counted as zero in the overall score.

Piotroski F-Score Partial

1/7

Brookfield Property Preferred Limited passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Brookfield Property Preferred Limited reported a net loss of $305.0M while operations used $595.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$1.9B

YoY-15.8%

QoQ+9.2%

Brookfield Property Preferred Limited held $1.9B in cash against $842.0M in long-term debt as of Q4 2025, with $17.2B of liabilities due within a year.

Shares Outstanding

Brookfield Property Preferred Limited had 0 shares outstanding in Q4 2025.

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.

BPYPM 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.

BPYPM quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$7.1B-21.6%	$9.1B-3.9%	$9.5B+28.8%	$7.4B+3.7%	$7.1B+7.7%	$6.6B-19.6%	$8.2B+13.3%	$7.2B+18.0%	$6.1B+14.6%	$5.4B+10.3%	$4.9B
Interest Expense	$3.5B-25.9%	$4.8B-1.2%	$4.8B+79.8%	$2.7B+3.5%	$2.6B0.0%	$2.6B-11.4%	$2.9B+18.7%	$2.5B+25.3%	$2.0B+17.0%	$1.7B+10.0%	$1.5B
Income Tax	$157.0M-45.7%	$289.0M+169.0%	-$419.0M-249.1%	$281.0M-42.7%	$490.0M+122.7%	$220.0M+12.2%	$196.0M+142.0%	$81.0M-57.8%	$192.0M+133.4%	-$575.0M-675.0%	$100.0M
Net Income	-$305.0M+84.7%	-$2.0B-8.0%	-$1.8B-285.6%	$996.0M-71.5%	$3.5B+270.0%	-$2.1B-165.2%	$3.2B-13.6%	$3.7B+48.1%	$2.5B-9.2%	$2.7B-27.9%	$3.8B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Revenue	N/A	$1.8B-25.6%	N/A	$2.4B+4.1%	N/A	$2.3B+33.5%	N/A	$1.7B+5.0%
Interest Expense	N/A	$858.0M-33.0%	N/A	$1.3B+9.1%	N/A	$1.2B+88.4%	N/A	$623.0M-12.3%
Income Tax	N/A	$30.0M-36.2%	N/A	$47.0M+158.0%	N/A	-$81.0M-272.3%	N/A	$47.0M-46.0%
Net Income	N/A	-$46.0M+94.2%	N/A	-$789.0M-72.3%	N/A	-$458.0M-188.1%	N/A	$520.0M-24.2%

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

BPYPM Balance Sheet

BPYPM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$99.3B-3.2%	$102.6B-22.0%	$131.6B+16.9%	$112.5B+0.5%	$112.0B+3.8%	$108.0B-3.3%	$111.6B-8.9%	$122.5B+45.3%	$84.3B+8.0%	$78.1B	N/A
Current Assets	$4.0B-20.5%	$5.0B-30.3%	$7.2B+10.4%	$6.5B+32.2%	$4.9B+11.4%	$4.4B+52.3%	$2.9B-52.5%	$6.1B+146.5%	$2.5B-38.8%	$4.1B	N/A
Cash & Equivalents	$1.9B-15.8%	$2.2B-5.7%	$2.3B-41.8%	$4.0B+56.1%	$2.6B+4.2%	$2.5B+72.0%	$1.4B-56.3%	$3.3B+120.5%	$1.5B+2.4%	$1.5B+40.7%	$1.0B
Inventory	$510.0M+117.9%	$234.0M+78.6%	$131.0M-25.6%	$176.0M-69.3%	$574.0M+338.2%	$131.0M	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.0B-5.4%	$2.1B-40.3%	$3.5B+60.1%	$2.2B-4.4%	$2.3B+21.6%	$1.9B+33.0%	$1.4B-40.4%	$2.4B+140.7%	$981.0M-62.2%	$2.6B	N/A
Goodwill	$1.2B+26.9%	$931.0M-35.8%	$1.4B+53.3%	$946.0M+13.7%	$832.0M-23.0%	$1.1B+3.7%	$1.0B-6.1%	$1.1B+2.8%	$1.1B+41.8%	$761.0M	N/A
Total Liabilities	$56.7B-11.9%	$64.3B-22.5%	$83.0B+17.3%	$70.8B+5.6%	$67.0B+0.9%	$66.4B-0.4%	$66.7B-12.0%	$75.8B+54.0%	$49.2B+12.0%	$44.0B	N/A
Current Liabilities	$17.2B-17.4%	$20.8B-5.0%	$21.9B-9.6%	$24.2B+37.7%	$17.6B-1.5%	$17.8B+44.6%	$12.3B+21.5%	$10.1B-3.5%	$10.5B+28.0%	$8.2B	N/A
Non-Current Liabilities	$39.2B-8.0%	$42.7B-30.1%	$61.1B+31.1%	$46.6B+0.5%	$46.4B-3.8%	$48.2B-11.1%	$54.2B-17.2%	$65.5B+75.1%	$37.4B+4.8%	$35.7B	N/A
Long-Term Debt	$842.0M+7.4%	$784.0M-36.9%	$1.2B+18.5%	$1.0B+52.0%	$690.0M-21.1%	$875.0M-1.6%	$889.0M-98.6%	$64.0B+68.4%	$38.0B+13.1%	$33.6B	N/A
Total Equity	$42.6B+11.3%	$38.2B-21.3%	$48.6B+16.4%	$41.7B-7.3%	$45.0B+8.4%	$41.5B-7.6%	$44.9B-3.9%	$46.7B+33.1%	$35.1B+2.8%	$34.2B+10.4%	$30.9B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Total Assets	$99.3B-3.2%	$98.9B-25.4%	$102.6B-22.0%	$132.6B+2.0%	$131.6B+16.9%	$130.0B+23.1%	$112.5B+0.5%	$105.5B-5.2%
Current Assets	$4.0B-20.5%	$4.0B-38.2%	$5.0B-30.3%	$6.5B+0.7%	$7.2B+10.4%	$6.4B+42.7%	$6.5B+32.2%	$4.5B+10.3%
Cash & Equivalents	$1.9B-15.8%	$1.7B-29.1%	$2.2B-5.7%	$2.4B-13.3%	$2.3B-41.8%	$2.8B+27.3%	$4.0B+56.1%	$2.2B-5.5%
Inventory	$510.0M+117.9%	$186.0M-33.1%	$234.0M+78.6%	$278.0M-16.8%	$131.0M-25.6%	$334.0M+34.7%	$176.0M-69.3%	$248.0M
Accounts Receivable	$2.0B-5.4%	$1.9B-32.6%	$2.1B-40.3%	$2.8B-12.8%	$3.5B+60.1%	$3.3B+59.6%	$2.2B-4.4%	$2.0B+20.3%
Goodwill	$1.2B+26.9%	$1.0B-28.0%	$931.0M-35.8%	$1.4B-2.6%	$1.4B+53.3%	$1.5B+95.6%	$946.0M+13.7%	$745.0M-31.1%
Total Liabilities	$56.7B-11.9%	$58.7B-30.2%	$64.3B-22.5%	$84.1B+1.8%	$83.0B+17.3%	$82.6B+33.2%	$70.8B+5.6%	$62.0B-10.2%
Current Liabilities	$17.2B-17.4%	$20.4B-12.4%	$20.8B-5.0%	$23.3B-27.7%	$21.9B-9.6%	$32.2B+58.4%	$24.2B+37.7%	$20.3B+8.8%
Non-Current Liabilities	$39.2B-8.0%	$38.2B-37.0%	$42.7B-30.1%	$60.7B+22.2%	$61.1B+31.1%	$49.7B+21.8%	$46.6B+0.5%	$40.8B-19.1%
Long-Term Debt	$842.0M+7.4%	$810.0M-37.1%	$784.0M-36.9%	$1.3B+13.9%	$1.2B+18.5%	$1.1B+75.9%	$1.0B+52.0%	$643.0M-28.2%
Total Equity	$42.6B+11.3%	$40.2B-17.1%	$38.2B-21.3%	$48.5B+2.5%	$48.6B+16.4%	$47.3B+8.8%	$41.7B-7.3%	$43.5B+3.0%

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

BPYPM Cash Flow Statement

BPYPM quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	-$595.0M-158.4%	$1.0B+251.9%	-$670.0M-1164.2%	-$53.0M-108.7%	$606.0M-54.5%	$1.3B+113.5%	$624.0M-54.0%	$1.4B+112.4%	$639.0M-14.2%	$745.0M+26.3%	$590.0M
Depreciation & Amortization	$269.0M-35.6%	$418.0M-5.0%	$440.0M+53.3%	$287.0M-6.8%	$308.0M-3.4%	$319.0M-6.5%	$341.0M+10.7%	$308.0M+12.0%	$275.0M+14.6%	$240.0M+33.3%	$180.0M
Capital Expenditures	$758.0M+88.1%	$403.0M-23.8%	$529.0M+155.6%	$207.0M+32.7%	$156.0M-7.7%	$169.0M-54.6%	$372.0M-22.2%	$478.0M+91.2%	$250.0M+7.8%	$232.0M+346.2%	$52.0M
Free Cash Flow	-$1.4B-320.0%	$615.0M+151.3%	-$1.2B-361.2%	-$260.0M-157.8%	$450.0M-61.3%	$1.2B+361.5%	$252.0M-71.3%	$879.0M+126.0%	$389.0M-24.2%	$513.0M-4.6%	$538.0M
Investing Cash Flow	-$1.4B+79.0%	-$6.8B-128.0%	-$3.0B-138.2%	$7.8B+4191.8%	$182.0M+283.8%	-$99.0M+93.9%	-$1.6B+80.8%	-$8.4B-345.7%	-$1.9B+41.7%	-$3.2B+17.8%	-$3.9B
Financing Cash Flow	$1.6B-72.1%	$5.7B+195.2%	$1.9B+130.1%	-$6.5B-869.7%	-$666.0M-209.8%	-$215.0M+75.9%	-$892.0M-110.1%	$8.9B+611.0%	$1.2B-57.1%	$2.9B-8.6%	$3.2B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q

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.

BPYPM 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.

BPYPM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	-4.3%+17.6pp	-21.9%-2.4pp	-19.5%-33.0pp	13.5%-35.8pp	49.3%+80.5pp	-31.2%-69.7pp	38.5%-12.0pp	50.5%+10.3pp	40.2%-10.5pp	50.8%-26.8pp	77.6%
Return on Equity	-0.7%+4.5pp	-5.2%-1.4pp	-3.8%-6.2pp	2.4%-5.4pp	7.8%+12.7pp	-5.0%-12.0pp	7.0%-0.8pp	7.8%+0.8pp	7.0%-0.9pp	8.0%-4.2pp	12.2%
Return on Assets	-0.3%+1.6pp	-1.9%-0.5pp	-1.4%-2.3pp	0.9%-2.2pp	3.1%+5.0pp	-1.9%-4.7pp	2.8%-0.2pp	3.0%+0.1pp	2.9%-0.5pp	3.5%	N/A
Current Ratio	0.230.0x	0.24-0.1x	0.33+0.1x	0.270.0x	0.280.0x	0.250.0x	0.24-0.4x	0.60+0.4x	0.24-0.3x	0.49	N/A
Debt-to-Equity	0.020.0x	0.020.0x	0.030.0x	0.030.0x	0.020.0x	0.020.0x	0.02-1.3x	1.37+0.3x	1.08+0.1x	0.98	N/A
Asset Turnover	0.070.0x	0.090.0x	0.070.0x	0.070.0x	0.060.0x	0.060.0x	0.070.0x	0.060.0x	0.070.0x	0.07	N/A
FCF Margin	-18.9%-25.7pp	6.8%+19.4pp	-12.6%-9.1pp	-3.5%-9.9pp	6.3%-11.3pp	17.6%+14.6pp	3.1%-9.1pp	12.1%+5.8pp	6.3%-3.3pp	9.6%-1.5pp	11.1%

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Net Margin	N/A	-2.5%+30.0pp	N/A	-32.6%-12.9pp	N/A	-19.7%-49.5pp	N/A	29.8%-11.5pp
Return on Equity	N/A	-0.1%+1.5pp	N/A	-1.6%-0.7pp	N/A	-1.0%-2.2pp	N/A	1.2%-0.4pp
Return on Assets	N/A	-0.1%+0.5pp	N/A	-0.6%-0.2pp	N/A	-0.4%-0.8pp	N/A	0.5%-0.1pp
Current Ratio	0.230.0x	0.20-0.1x	0.24-0.1x	0.28+0.1x	0.33+0.1x	0.200.0x	0.270.0x	0.220.0x
Debt-to-Equity	0.020.0x	0.020.0x	0.020.0x	0.030.0x	0.030.0x	0.020.0x	0.030.0x	0.010.0x
Asset Turnover	N/A	0.020.0x	N/A	0.020.0x	N/A	0.020.0x	N/A	0.020.0x

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

Note: The current ratio is below 1.0 (0.23), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Where Brookfield Property Preferred Limited Ranks

Frequently Asked Questions

What is Brookfield Property Preferred Limited's annual revenue?

Brookfield Property Preferred Limited (BPYPM) reported $7.1B in total revenue for fiscal year 2025. This represents a -21.6% 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 Property Preferred Limited's revenue growing?

Brookfield Property Preferred Limited (BPYPM) revenue declined by 21.6% year-over-year, from $9.1B to $7.1B in fiscal year 2025.

Is Brookfield Property Preferred Limited profitable?

No, Brookfield Property Preferred Limited (BPYPM) reported a net income of -$305.0M in fiscal year 2025, with a net profit margin of -4.3%.

How much debt does Brookfield Property Preferred Limited have?

As of fiscal year 2025, Brookfield Property Preferred Limited (BPYPM) had $1.9B in cash and equivalents against $842.0M in long-term debt.

What is Brookfield Property Preferred Limited's net profit margin?

Brookfield Property Preferred Limited (BPYPM) 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 Property Preferred Limited's return on equity (ROE)?

Brookfield Property Preferred Limited (BPYPM) has a return on equity of -0.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brookfield Property Preferred Limited's free cash flow?

Brookfield Property Preferred Limited (BPYPM) recorded an outflow of $1.4B in free cash flow during fiscal year 2025. This represents a -320.0% 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 Property Preferred Limited's operating cash flow?

Brookfield Property Preferred Limited (BPYPM) recorded an outflow of $595.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Brookfield Property Preferred Limited's total assets?

Brookfield Property Preferred Limited (BPYPM) had $99.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brookfield Property Preferred Limited's capital expenditures?

Brookfield Property Preferred Limited (BPYPM) invested $758.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Brookfield Property Preferred Limited have outstanding?

Brookfield Property Preferred Limited (BPYPM) had 0 shares outstanding as of fiscal year 2025.

What is Brookfield Property Preferred Limited's current ratio?

Brookfield Property Preferred Limited (BPYPM) had a current ratio of 0.23 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Brookfield Property Preferred Limited's debt-to-equity ratio?

Brookfield Property Preferred Limited (BPYPM) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Brookfield Property Preferred Limited (BPYPM) had a return on assets of -0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brookfield Property Preferred Limited's Piotroski F-Score?

Brookfield Property Preferred Limited (BPYPM) has a Piotroski F-Score of 1 out of 7 computable signals; 2 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 Property Preferred Limited's earnings high quality?

Brookfield Property Preferred Limited (BPYPM) reported a net loss of $305.0M while operations used $595.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Property Preferred Limited?

Brookfield Property Preferred Limited (BPYPM) scores 18 out of 100 on our Financial Health Score, indicating weak standing within its operating companies 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.