Brookfield Property Partners Lp Financials

BPYPP

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

This page shows Brookfield Property Partners Lp (BPYPP) financial statements, including the 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 2026-04-22

Large asset base masks a cash-volatile business where earnings and liquidity move differently from reported profit.

Over the last three years, reported profit and cash flow diverged even as assets and liabilities both contracted. The latest year posted -$595M of operating cash flow and -$1.35B of free cash flow even as the net loss was much smaller than the prior year, implying earnings quality is dominated by non-cash balance-sheet movements rather than by cash arriving in the business.

This is a balance-sheet-heavy enterprise: the latest asset base of $99.3B sits against only $7.1B of revenue, so liquidity tells you more than margin lines here. With a current ratio of 0.2x, near-term obligations appear to depend less on cash already on hand and more on rolling liabilities or monetizing assets.

FY2024's cash rebound was not a settled new pattern: free cash flow moved from $615M back to -$1.35B in the latest year. Because capital spending rose while operating cash swung negative, reinvestment timing can overwhelm headline earnings and make one strong cash year a poor guide to the next.

Financial Health Signals

Financial health score pending refresh

We are recalculating Brookfield Property Partners Lp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

1/7

Brookfield Property Partners Lp 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 Low Quality

1.95x

For every $1 of reported earnings, Brookfield Property Partners Lp generates $1.95 in operating cash flow (-$595.0M OCF vs -$305.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$7.1B

YoY-21.6%

5Y CAGR+1.6%

10Y CAGR+3.9%

Brookfield Property Partners Lp generated $7.1B in revenue in fiscal year 2025. This represents a decrease of 21.6% from the prior year.

EBITDA

N/A

Net Income

-$305.0M

YoY+84.7%

Brookfield Property Partners Lp reported -$305.0M in net income in fiscal year 2025. This represents an increase of 84.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$1.4B

YoY-320.0%

Brookfield Property Partners Lp generated -$1.4B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 320.0% from the prior year.

Cash & Debt

$1.9B

YoY-15.8%

5Y CAGR-5.5%

10Y CAGR+6.0%

Brookfield Property Partners Lp held $1.9B in cash against $842.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Brookfield Property Partners Lp had 0 shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-4.3%

YoY+17.6pp

5Y CAGR+26.9pp

10Y CAGR-81.9pp

Brookfield Property Partners Lp's net profit margin was -4.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 17.6 percentage points from the prior year.

Return on Equity

-0.7%

YoY+4.5pp

5Y CAGR+4.2pp

10Y CAGR-12.9pp

Brookfield Property Partners Lp's ROE was -0.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$758.0M

YoY+88.1%

5Y CAGR+35.0%

10Y CAGR+30.7%

Brookfield Property Partners Lp invested $758.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 88.1% from the prior year.

BPYPP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$7.1B-21.6%	$9.1B-3.9%	$9.5B+28.8%	$7.4B+3.7%	$7.1B+7.7%	$6.6B
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	$64.0M-23.8%	$84.0M0.0%	$84.0M+44.8%	$58.0M-1.7%	$59.0M+1.7%	$58.0M
Income Tax	$157.0M-45.7%	$289.0M+169.0%	-$419.0M-249.1%	$281.0M-42.7%	$490.0M+122.7%	$220.0M
Net Income	-$305.0M+84.7%	-$2.0B-8.0%	-$1.8B-285.6%	$996.0M-71.5%	$3.5B+270.0%	-$2.1B
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	$1.8B	N/A	$2.4B	N/A	$2.3B	N/A	$1.7B
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	$15.0M	N/A	$26.0M	N/A	$20.0M	N/A	$15.0M
Income Tax	N/A	$30.0M	N/A	$47.0M	N/A	-$81.0M	N/A	$47.0M
Net Income	N/A	-$46.0M	N/A	-$789.0M	N/A	-$458.0M	N/A	$520.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BPYPP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$99.3B-3.2%	$102.6B-22.0%	$131.6B+16.9%	$112.5B+0.5%	$112.0B+3.8%	$108.0B
Current Assets	$4.0B-20.5%	$5.0B-30.3%	$7.2B+10.4%	$6.5B+32.2%	$4.9B+11.4%	$4.4B
Cash & Equivalents	$1.9B-15.8%	$2.2B-5.7%	$2.3B-41.8%	$4.0B+56.1%	$2.6B+4.2%	$2.5B
Inventory	$510.0M+117.9%	$234.0M+78.6%	$131.0M-25.6%	$176.0M-69.3%	$574.0M+338.2%	$131.0M
Accounts Receivable	$2.0B-5.4%	$2.1B-40.3%	$3.5B+60.1%	$2.2B-4.4%	$2.3B+21.6%	$1.9B
Goodwill	$1.2B+26.9%	$931.0M-35.8%	$1.4B+53.3%	$946.0M+13.7%	$832.0M-23.0%	$1.1B
Total Liabilities	$56.7B-11.9%	$64.3B-22.5%	$83.0B+17.3%	$70.8B+5.6%	$67.0B+0.9%	$66.4B
Current Liabilities	$17.2B-17.4%	$20.8B-5.0%	$21.9B-9.6%	$24.2B+37.7%	$17.6B-1.5%	$17.8B
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
Total Equity	$42.6B+11.3%	$38.2B-21.3%	$48.6B+16.4%	$41.7B-7.3%	$45.0B+8.4%	$41.5B
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	$99.3B+0.4%	$98.9B-3.6%	$102.6B-22.6%	$132.6B+0.8%	$131.6B+1.2%	$130.0B+15.5%	$112.5B+6.6%	$105.5B
Current Assets	$4.0B-0.2%	$4.0B-20.4%	$5.0B-22.4%	$6.5B-10.3%	$7.2B+12.2%	$6.4B-1.6%	$6.5B+45.0%	$4.5B
Cash & Equivalents	$1.9B+9.2%	$1.7B-22.9%	$2.2B-8.0%	$2.4B+2.6%	$2.3B-15.4%	$2.8B-31.1%	$4.0B+84.8%	$2.2B
Inventory	$510.0M+174.2%	$186.0M-20.5%	$234.0M-15.8%	$278.0M+112.2%	$131.0M-60.8%	$334.0M+89.8%	$176.0M-29.0%	$248.0M
Accounts Receivable	$2.0B+2.7%	$1.9B-7.9%	$2.1B-26.8%	$2.8B-18.3%	$3.5B+6.8%	$3.3B+49.8%	$2.2B+6.6%	$2.0B
Goodwill	$1.2B+15.7%	$1.0B+9.7%	$931.0M-34.4%	$1.4B-2.1%	$1.4B-0.5%	$1.5B+54.0%	$946.0M+27.0%	$745.0M
Total Liabilities	$56.7B-3.4%	$58.7B-8.8%	$64.3B-23.5%	$84.1B+1.4%	$83.0B+0.4%	$82.6B+16.7%	$70.8B+14.1%	$62.0B
Current Liabilities	$17.2B-15.8%	$20.4B-1.9%	$20.8B-10.7%	$23.3B+6.5%	$21.9B-32.1%	$32.2B+33.0%	$24.2B+19.1%	$20.3B
Long-Term Debt	$842.0M+4.0%	$810.0M+3.3%	$784.0M-39.1%	$1.3B+3.6%	$1.2B+9.9%	$1.1B+7.8%	$1.0B+63.1%	$643.0M
Total Equity	$42.6B+5.9%	$40.2B+5.1%	$38.2B-21.1%	$48.5B-0.2%	$48.6B+2.6%	$47.3B+13.4%	$41.7B-4.1%	$43.5B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BPYPP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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
Capital Expenditures	$758.0M+88.1%	$403.0M-23.8%	$529.0M+155.6%	$207.0M+32.7%	$156.0M-7.7%	$169.0M
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
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
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
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BPYPP 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%+17.6pp	-21.9%-2.4pp	-19.5%-33.0pp	13.5%-35.8pp	49.3%+80.5pp	-31.2%
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%
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%
Current Ratio	0.230.0	0.24-0.1	0.33+0.1	0.27-0.0	0.28+0.0	0.25
Debt-to-Equity	0.020.0	0.020.0	0.030.0	0.030.0	0.020.0	0.02
FCF Margin	-18.9%-25.7pp	6.8%+19.4pp	-12.6%-9.1pp	-3.5%-9.9pp	6.3%-11.3pp	17.6%

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	-2.5%	N/A	-32.6%	N/A	-19.7%	N/A	29.8%
Return on Equity	N/A	-0.1%	N/A	-1.6%	N/A	-1.0%	N/A	1.2%
Return on Assets	N/A	-0.1%	N/A	-0.6%	N/A	-0.4%	N/A	0.5%
Current Ratio	0.23+0.0	0.20-0.0	0.24-0.0	0.28-0.1	0.33+0.1	0.20-0.1	0.27+0.0	0.22
Debt-to-Equity	0.020.0	0.020.0	0.020.0	0.030.0	0.030.0	0.020.0	0.03+0.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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

Frequently Asked Questions

What is Brookfield Property Partners Lp's annual revenue?

Brookfield Property Partners Lp (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 Lp's revenue growing?

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

Is Brookfield Property Partners Lp profitable?

No, Brookfield Property Partners Lp (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 Lp have?

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

What is Brookfield Property Partners Lp's net profit margin?

Brookfield Property Partners Lp (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 Lp's return on equity (ROE)?

Brookfield Property Partners Lp (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 Lp's free cash flow?

Brookfield Property Partners Lp (BPYPP) generated -$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 Lp's operating cash flow?

Brookfield Property Partners Lp (BPYPP) generated -$595.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brookfield Property Partners Lp's total assets?

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

What are Brookfield Property Partners Lp's capital expenditures?

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

How many shares does Brookfield Property Partners Lp have outstanding?

Brookfield Property Partners Lp (BPYPP) had 0 shares outstanding as of fiscal year 2025.

What is Brookfield Property Partners Lp's current ratio?

Brookfield Property Partners Lp (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 Lp's debt-to-equity ratio?

Brookfield Property Partners Lp (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 Lp's return on assets (ROA)?

Brookfield Property Partners Lp (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 Lp's cash runway?

Based on fiscal year 2025 data, Brookfield Property Partners Lp (BPYPP) had $1.9B in cash against an annual operating cash burn of $595.0M. This gives an estimated cash runway of approximately 37 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Brookfield Property Partners Lp's Piotroski F-Score?

Brookfield Property Partners Lp (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 Lp's earnings high quality?

Brookfield Property Partners Lp (BPYPP) has an earnings quality ratio of 1.95x, considered low quality (accrual-driven). 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.