Brookfield Asset Management Ltd.
- Open
- 47.15
- Day high
- 47.81
- Day low
- 46.85
- Prev close
- 46.35
- Volume
- 632K
- Mkt cap
- $75.5B
- P/E (TTM)
- 30.3
- EPS (TTM)
- $1.56
- P/B
- 9.9
- P/S
- 15.8
- Yield
- 3.97%
- Per share
- $1.88
Brookfield Asset Management Ltd. (BAM) is a Financial Services company listed on NYSE. The stock is down 27% over the past year. Drillr has 1 published research article covering BAM.
Brookfield Asset Management Ltd. (BAM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BAM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $0.41 | $0.43 | +4.7% | $1.3B | -8.2% |
| Feb 4, 2026 | $0.44 | $0.47 | +6.6% | $1.4B | -2.9% |
| Nov 7, 2025 | $0.40 | $0.41 | +1.6% | $1.2B | -7.2% |
| Feb 12, 2025 | $0.39 | $0.40 | +3.3% | $120M | -90.4% |
| Feb 7, 2024 | $0.34 | $0.36 | +5.9% | $160M | -85.7% |
| Feb 8, 2023 | $0.30 | $0.31 | +3.3% | $1.1B | +6.7% |
| Nov 21, 2022 | — | $0.98 | — | $838M | — |
| Aug 11, 2022 | $0.57 | $0.73 | +28.1% | $924M | — |
| May 12, 2022 | $0.70 | $0.73 | +4.3% | $755M | — |
| Feb 10, 2022 | — | $0.66 | — | $699M | — |
| Nov 11, 2021 | $0.92 | $0.47 | -48.9% | $817M | — |
| Aug 12, 2021 | $0.75 | $0.49 | -34.7% | $741M | — |
BAM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jan 4, 2024 | BCP GP Ltdother: Former 10% Owner | Sell | 1,037,120 | $2.20 |
| Jan 4, 2024 | BCP GP Ltdother: Former 10% Owner | Sell | 1,038,919 | $2.20 |
| Jan 4, 2024 | BCP GP Ltdother: Former 10% Owner | Sell | 1,846,591 | $2.20 |
| Jan 4, 2024 | BCP GP Ltdother: Former 10% Owner | Sell | 88 | $2.20 |
| Jan 4, 2024 | BCP GP Ltdother: Former 10% Owner | Sell | 68 | $2.20 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 34,111 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 7 | $2.23 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 101,174 | $2.23 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 180,142 | $2.23 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 101,350 | $2.23 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 9 | $2.23 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 2 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 3 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 60,735 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 34,171 | $2.22 |
Source: BAM SEC Form 4 filings, latest Jan 4, 2024. For informational purposes only — not investment advice.
See the full BAM insider & 13F page →Brookfield Asset Management Ltd. company profile
Overview
Brookfield Asset Management Ltd. (NYSE:BAM) is a global alternative asset management company that spun off from Brookfield Corporation in December 2022. Founded originally in 1997 and headquartered in Toronto, Canada with operations in New York, the company has evolved into one of the world's largest alternative asset managers with approximately $1 trillion in assets under management. BAM operates as the fee-generating asset management arm of the broader Brookfield ecosystem, managing capital across real estate, renewable power, infrastructure, private equity, and credit strategies for institutional and retail investors worldwide.
Business
Brookfield Asset Management operates as an alternative asset manager, which means it manages investments outside of traditional stocks and bonds for institutional investors like pension funds, sovereign wealth funds, and insurance companies, as well as high-net-worth individuals. Alternative assets typically include real estate, infrastructure, private equity, and specialized credit investments that often require longer investment horizons but can provide higher returns and diversification benefits. The company manages capital across five primary business segments: 1. **Real Estate (approximately 25% of fee-bearing capital)**: BAM manages investments in commercial real estate including office buildings, retail centers, industrial properties, and residential developments across global markets. This includes both core real estate investments and opportunistic real estate strategies. 2. **Infrastructure (approximately 20% of fee-bearing capital)**: The company invests in essential infrastructure assets such as utilities, transportation networks, telecommunications infrastructure, and energy distribution systems. These assets typically generate stable, long-term cash flows and often have inflation-protected revenues. 3. **Renewable Power and Transition (approximately 15% of fee-bearing capital)**: BAM manages investments in renewable energy generation including wind, solar, and hydroelectric power facilities, as well as energy storage and grid infrastructure supporting the global energy transition. 4. **Credit (approximately 45% of fee-bearing capital)**: This is BAM's largest segment, encompassing private credit strategies including direct lending, distressed debt, real estate credit, and structured credit products. The credit business has grown significantly through acquisitions including Oaktree Capital Management. 5. **Private Equity (approximately 10% of fee-bearing capital)**: BAM manages buyout funds that acquire controlling stakes in companies, typically focusing on businesses with underlying real assets in sectors like industrials, business services, and infrastructure-related companies. The company also operates complementary strategies including secondaries (buying existing fund commitments from other investors), venture capital, and specialized insurance solutions that provide capital to insurance companies seeking alternative investment exposure.
Revenue model
Brookfield Asset Management generates revenue primarily through asset management fees and performance-based compensation, following the traditional "2 and 20" alternative asset management model, though fee structures vary by strategy and investor type. **Primary Revenue Streams:** 1. **Management Fees**: BAM charges annual management fees typically ranging from 1-2% of committed or invested capital. These fees provide steady, recurring revenue regardless of investment performance and are charged throughout the life of each fund, usually 5-10 years. 2. **Performance Fees (Carried Interest)**: The company earns 15-20% of investment profits above predetermined return thresholds (typically 6-8% annually). These fees are only earned when investments perform well and are realized when assets are sold or generate distributions. 3. **Transaction and Advisory Fees**: BAM earns fees for arranging transactions, providing advisory services, and managing capital deployment activities for its funds and co-investment partners. **Customer Base**: BAM's paying customers include institutional investors such as pension funds, sovereign wealth funds, endowments, foundations, insurance companies, and family offices. The company has increasingly expanded into private wealth channels, targeting high-net-worth individuals through financial advisors and wealth management platforms. **Margin Influencing Factors:** Several factors can increase BAM's profitability margins. Rising interest rates and market volatility create more opportunities for alternative investments, as traditional fixed-income yields become less attractive and market dislocations create investment opportunities. The global infrastructure investment needs driven by AI development, energy transition, and aging infrastructure create substantial deployment opportunities. Consolidation in the asset management industry favors large, diversified managers like BAM who can offer multiple strategies to institutional investors seeking to reduce manager relationships. Conversely, factors that could pressure margins include increased competition in private credit markets, potential changes to carried interest taxation, extended fundraising cycles during market downturns, and the significant upfront costs associated with launching new strategies or acquiring other asset managers. Economic recessions can also delay asset monetizations, reducing realized performance fees and extending the time to generate returns for investors.
Competitive moat
Brookfield Asset Management possesses several competitive advantages that create a meaningful but not insurmountable moat in the alternative asset management industry. **Primary Moat Sources:** The company's strongest competitive advantage lies in its integrated global platform and operational expertise across real assets. Unlike many alternative asset managers that primarily provide capital, BAM combines deep operational knowledge with significant balance sheet capital, allowing it to take controlling positions and actively improve assets. This operational capability is particularly valuable in infrastructure and real estate, where hands-on management can significantly enhance returns. BAM's scale provides substantial advantages in fundraising and deal sourcing. With nearly $1 trillion in assets under management, the company can pursue larger, more complex transactions that smaller competitors cannot handle. This scale also allows BAM to offer institutional investors a comprehensive suite of alternative strategies, reducing the need for multiple manager relationships. The company's long-term track record and brand recognition in alternative investments, built over more than 25 years, creates significant trust with institutional investors who often commit capital for 10+ year periods. BAM's permanent capital base through its insurance solutions business and perpetual funds provides stability and flexibility that many competitors lack. **Moat Limitations:** However, the alternative asset management industry faces increasing competition as barriers to entry have lowered and capital has become more abundant. Large investment banks, traditional asset managers, and new entrants continue to launch competing strategies. The private credit market, BAM's largest segment, has become particularly crowded with numerous well-capitalized competitors. Regulatory changes, particularly potential modifications to carried interest taxation, could impact the industry's economics. Additionally, institutional investors are increasingly developing internal capabilities and co-investment programs that could reduce demand for external managers over time. **Overall Assessment**: BAM maintains a solid but not dominant competitive position. The company's operational expertise, scale, and diversified platform provide meaningful advantages, but the competitive landscape continues to intensify across most alternative asset classes.
Risks & safety
**Overall Assessment**: BAM maintains a solid financial position with manageable debt levels, though profitability can be volatile due to the nature of performance-based compensation. **Debt and Solvency**: - Debt-to-equity ratio of 7.5% indicates minimal leverage - Current ratio of 1.68 shows adequate short-term liquidity coverage - $332 million in cash and short-term investments provides operational flexibility - No significant solvency concerns given strong balance sheet position **Valuation Metrics**: - P/E ratio of 33.6x appears elevated for current earnings - EV/EBITDA of 26.4x suggests premium valuation - Price-to-book ratio of 9.2x reflects significant premium to book value - Graham number analysis suggests potential overvaluation at current levels **Other Considerations**: - Fee-bearing capital growth of 20% year-over-year provides strong revenue visibility - Distributable earnings of $654 million with 90%+ payout ratio to shareholders - Strong fundraising momentum with $25 billion raised in Q1 2025 - Revenue concentration in performance fees creates earnings volatility risk - Long-term contractual nature of fund commitments provides some downside protection
Recent development
Over the past few years, Brookfield Asset Management has executed several strategic initiatives to position itself for growth in key secular trends while expanding its capabilities and market reach. **Strategic Expansion and Acquisitions**: BAM has significantly expanded its credit platform through strategic acquisitions, most notably increasing its ownership stake in Oaktree Capital Management to 74% and acquiring Angel Oak, a mortgage origination platform. The company also acquired Castlelake and SVB Capital to broaden its alternative credit capabilities. These acquisitions have made credit BAM's largest business segment, representing approximately 45% of fee-bearing capital. **Infrastructure and AI Focus**: The company has positioned itself at the forefront of AI infrastructure investment, leveraging its existing capabilities in data centers, renewable power, and infrastructure. BAM announced a significant EUR 20 billion infrastructure investment commitment in France specifically for AI development and has been exploring the launch of a dedicated AI infrastructure strategy. **Insurance Solutions Platform**: BAM has developed and expanded its insurance solutions business, which provides alternative investment strategies specifically designed for insurance companies. This platform has grown to manage over $50 billion and represents a significant growth opportunity, with BAM targeting additional expansion in this channel. **Geographic and Operational Changes**: The company relocated its headquarters from Toronto to New York to enhance its U.S. market presence and improve index eligibility. BAM has also simplified its corporate structure to increase liquidity and potentially qualify for major U.S. stock indices like the S&P 500. **Product Innovation**: BAM has launched several new strategies including renewable power transition funds, complementary credit strategies, and expanded its private wealth channel offerings. The company has also been developing secondaries capabilities across its private equity platform and expanding its venture capital and financial infrastructure strategies. **Fundraising Success**: The company has demonstrated strong fundraising momentum, raising over $135 billion in 2024 and maintaining robust investor demand across its strategies. BAM successfully closed its largest real estate strategy ever at $16 billion and continues to see strong institutional investor allocation to alternatives.
BAM company profile · for informational purposes only — not investment advice.
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