Brookfield Property Partners L.P. 6.50% (BPYPP) Financials

BPYPP

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 BPYPP SEC filings page.

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 BPYPP FY2025 2026-09-05

Balance-sheet financing matters more than margin analysis because a large asset base coexists with persistently weak current coverage.

The FY2025 net loss narrowed to -$305M from -$2.00B, but operating cash flow swung to -$595M from $1.02B. That divergence means the accounting improvement did not represent a corresponding improvement in cash generation, making earnings quality the central operating question.

The debt-to-equity ratio remained near 0.02x, while the current ratio was just 0.2x in FY2025. This combination suggests that conventional long-term debt is not the main balance-sheet pressure; total obligations and near-term funding needs deserve more attention.

Total liabilities were $56.7B against $99.3B of assets in FY2025, while free cash flow was -$1.35B. The capital-intensive cash profile therefore weakens the apparent comfort provided by positive equity, with reinvestment and operations together consuming cash.

Financial Health Signals

Financial health score not available

Brookfield Property Partners L.P. 6.50% 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

1/7

Brookfield Property Partners L.P. 6.50% 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 Partners L.P. 6.50% 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 Partners L.P. 6.50% 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 Partners L.P. 6.50% 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.

BPYPP 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.

BPYPP 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).

BPYPP Balance Sheet

BPYPP 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.

BPYPP Cash Flow Statement

BPYPP 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.

BPYPP 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.

BPYPP 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 Partners L.P. 6.50% Ranks

Frequently Asked Questions

What is Brookfield Property Partners L.P. 6.50%'s annual revenue?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s revenue growing?

Brookfield Property Partners L.P. 6.50% (BPYPP) revenue declined by 21.6% year-over-year, from $9.1B to $7.1B in fiscal year 2025.

Is Brookfield Property Partners L.P. 6.50% profitable?

No, Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50% have?

As of fiscal year 2025, Brookfield Property Partners L.P. 6.50% (BPYPP) had $1.9B in cash and equivalents against $842.0M in long-term debt.

What is Brookfield Property Partners L.P. 6.50%'s net profit margin?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s return on equity (ROE)?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s free cash flow?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s operating cash flow?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s total assets?

Brookfield Property Partners L.P. 6.50% (BPYPP) had $99.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brookfield Property Partners L.P. 6.50%'s capital expenditures?

Brookfield Property Partners L.P. 6.50% (BPYPP) invested $758.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Brookfield Property Partners L.P. 6.50% have outstanding?

Brookfield Property Partners L.P. 6.50% (BPYPP) had 0 shares outstanding as of fiscal year 2025.

What is Brookfield Property Partners L.P. 6.50%'s current ratio?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s debt-to-equity ratio?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s return on assets (ROA)?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s Piotroski F-Score?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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 Partners L.P. 6.50%'s earnings high quality?

Brookfield Property Partners L.P. 6.50% (BPYPP) 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.