Brookfield Corporation
- Open
- 40.22
- Day high
- 40.34
- Day low
- 40.02
- Prev close
- 39.71
- Volume
- 260K
- Mkt cap
- $90.0B
- P/E (TTM)
- 71.8
- EPS (TTM)
- $0.56
- P/B
- 1.9
- P/S
- 1.2
- Yield
- 0.72%
- Per share
- $0.29
Brookfield Corporation (BN) is a Financial Services company listed on NYSE. The stock is down 9% over the past year. Drillr has 1 published research article covering BN.
Brookfield Corporation (BN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 13, 2026 | $0.62 | $0.60 | -2.9% | $1.6B | -2.2% |
| May 14, 2026 | $0.60 | $0.66 | +9.6% | $1.6B | +0.8% |
| Feb 12, 2026 | $0.61 | $0.67 | +9.8% | $21.2B | +1202.5% |
| Nov 13, 2025 | $0.59 | $0.63 | +6.2% | $18.9B | +60.7% |
| Aug 7, 2025 | $0.59 | $0.59 | -0.5% | $18.1B | +1152.2% |
| May 8, 2025 | $0.85 | $0.98 | +15.3% | $17.9B | +1219.7% |
| Feb 13, 2025 | $0.85 | $1.01 | +18.8% | $19.4B | +1406.1% |
| Nov 14, 2024 | $0.83 | $0.84 | +1.3% | $20.6B | +1487.9% |
| May 9, 2024 | $0.70 | $0.77 | +9.4% | $23.0B | +1868.9% |
| Feb 8, 2024 | $0.71 | $0.83 | +16.7% | $29.6B | +2461.8% |
| Nov 9, 2023 | $0.69 | $0.73 | +5.8% | $24.4B | -21.3% |
| Aug 10, 2023 | $0.65 | $0.75 | +15.4% | $23.7B | -21.8% |
BN 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 | 68 | $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 | 1,846,591 | $2.20 |
| Jan 4, 2024 | BCP GP Ltdother: Former 10% Owner | Sell | 1,038,919 | $2.20 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 180,142 | $2.23 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 34,171 | $2.22 |
| 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 | 60,735 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 3 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 2 | $2.22 |
| Dec 29, 2023 | BCP GP Ltd10 percent owner | Sell | 101,174 | $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 |
Source: BN SEC Form 4 filings, latest Jan 4, 2024. For informational purposes only — not investment advice.
See the full BN insider & 13F page →Brookfield Corporation company profile
Overview
Brookfield Corporation (NYSE:BN) is a Toronto-based alternative asset manager and investment company founded in 1997, though its roots trace back to 1899 as a utility company. The company has evolved from its origins as Brascan Corporation into one of the world's largest alternative asset managers, overseeing approximately $1 trillion in assets under management. Brookfield operates as both an asset manager collecting fees from institutional and retail clients, and as a principal investor deploying its own capital alongside client funds across real estate, renewable power, infrastructure, and private equity investments globally.
Business
Brookfield operates as an alternative asset manager focused on real assets - tangible, physical assets that derive value from their substance and properties. The company's business is structured around three primary segments that generated the following approximate revenue contributions in 2024: Asset Management (approximately 40% of distributable earnings): This segment manages capital for institutional investors like pension funds, sovereign wealth funds, and insurance companies. Brookfield raises capital for specialized investment funds focused on infrastructure (roads, bridges, utilities), renewable power (wind farms, solar installations, hydroelectric facilities), real estate (office buildings, retail centers, industrial properties), and private equity (controlling stakes in operating companies). The company earns management fees (typically 1-2% annually) and performance fees called "carried interest" (typically 20% of profits above a hurdle rate) from these funds. Wealth Solutions (approximately 25% of distributable earnings): This newer segment focuses on insurance and annuity products for individual consumers and pension plans. Through its acquisition of American Equity Life, Brookfield sells annuities - insurance products that provide guaranteed income streams to retirees. The company invests the premiums collected from annuity sales into its real asset portfolios, earning a spread between what it pays annuity holders and what it earns on investments. Operating Businesses (approximately 35% of distributable earnings): Brookfield directly owns and operates large-scale infrastructure and real estate assets. This includes renewable power generation facilities that sell electricity to utilities, commercial real estate properties that collect rent from tenants, and infrastructure assets like toll roads that collect usage fees. These businesses generate steady cash flows from their essential services. The company's investment philosophy centers on acquiring large, high-quality assets that provide essential services with inflation-protected cash flows, typically holding investments for 5-10 years before selling to realize gains.
Revenue model
Brookfield generates revenue through multiple complementary business models that create diversified income streams: Fee-Based Revenue: The asset management business earns steady management fees of 1-2% annually on $539 billion of fee-bearing capital, providing predictable base income regardless of market performance. Additionally, the company earns carried interest - performance fees equal to 20% of investment profits above target returns - when its funds successfully exit investments. Brookfield has accumulated $11.5 billion in unrealized carried interest that will be recognized as investments are sold. Insurance Float Investment: The wealth solutions business collects premiums from annuity customers and invests this capital in Brookfield's real asset portfolios. The company earns a spread between the returns generated on investments (typically 5-7%) and the guaranteed payments to annuity holders (typically 3-5%), similar to how Warren Buffett's Berkshire Hathaway uses insurance float. Direct Asset Operations: Brookfield's operating businesses generate cash flows from owning and operating real assets. Renewable power facilities sell electricity under long-term contracts, real estate properties collect rent from tenants, and infrastructure assets charge usage fees. These cash flows are typically inflation-protected and grow over time. Capital Appreciation: The company realizes gains by improving operational performance of owned assets and selling them at higher valuations, often to its own managed funds or third parties. Several factors influence Brookfield's profitability margins. Positive factors include rising interest rates that increase returns on new investments, inflation that drives higher rents and utility rates for operating assets, and increased institutional demand for alternative investments. The company benefits from scale economies in due diligence and asset management. Negative factors include economic downturns that reduce transaction volumes and carried interest realizations, declining interest rates that compress investment yields, and increased competition for quality assets that drives up acquisition prices.
Competitive moat
Brookfield possesses several competitive advantages that create a meaningful but not impregnable moat. The company's primary moat stems from its scale and track record in alternative asset management. With $1 trillion in assets under management and a 30-year compound annual return of 19%, Brookfield has established strong relationships with institutional investors who repeatedly commit capital to successive funds. This creates a self-reinforcing cycle where larger funds enable bigger transactions, which in turn attract more institutional capital. The company benefits from operational expertise in complex, capital-intensive real assets that require specialized knowledge to acquire, improve, and manage effectively. Brookfield's integrated platform allows it to source deal flow across multiple asset classes and geographies, providing diversification and risk management advantages that smaller competitors cannot match. Access to capital represents another competitive advantage. Brookfield's permanent capital base and strong credit ratings enable it to act quickly on attractive opportunities and provide flexible financing solutions that pure-play fund managers cannot offer. The company's ability to co-invest its own capital alongside client funds aligns interests and provides additional return potential. However, Brookfield's moat faces several challenges. Competition is intensifying as more capital flows into alternative investments, with sovereign wealth funds, private equity giants like Blackstone and KKR, and even traditional asset managers expanding into real assets. The company's fee-based model is under pressure as institutional investors increasingly demand lower fees and better terms. Additionally, Brookfield's reliance on external capital raises means it must continuously demonstrate superior performance to maintain investor confidence, making its competitive position somewhat cyclical and performance-dependent.
Risks & safety
Brookfield presents a moderate margin of safety with some areas of concern: Overall Assessment: The company maintains adequate liquidity but operates with high leverage typical of asset management and real estate businesses. Liquidity and Solvency: • Cash and short-term investments: $15.1 billion • Current ratio: 0.65 (concerning, indicating potential short-term liquidity pressure) • Debt-to-equity ratio: 5.1 (very high, but typical for asset-heavy businesses) • Operating cash flow: $7.6 billion annually (strong and stable) Valuation Metrics: • Price-to-earnings ratio: 94.1 (extremely high, reflecting low reported net income) • Price-to-book ratio: 1.31 (reasonable for asset manager) • EV/EBITDA: 9.6 (moderate for the sector) • Distributable earnings yield: approximately 5.5% (more relevant metric than P/E) Other Considerations: • Strong asset quality with focus on essential infrastructure • Diversified revenue streams across geographies and asset classes • Substantial unrealized carried interest ($11.5 billion) provides future earnings visibility • High financial leverage creates sensitivity to interest rate and credit cycles
Recent development
Over the past few years, Brookfield has executed a significant strategic transformation focused on three key initiatives: Wealth Solutions Expansion: The company's most significant recent development was the acquisition of American Equity Life (AEL), which transformed Brookfield into a major player in the U.S. annuity market. This acquisition doubled the wealth solutions business and positioned the company to originate over $20 billion in annuity sales annually. The strategy leverages Brookfield's real asset expertise to generate attractive returns on insurance float, similar to Berkshire Hathaway's model. The company is now expanding this platform internationally, entering the UK market and exploring opportunities in Asia. Alternative Asset Management Scale-Up: Brookfield has aggressively expanded its asset management platform, growing fee-bearing capital from $407 billion in 2022 to $539 billion in 2024. The company raised record inflows of $135 billion in 2024, launching new funds across infrastructure, renewable power, and private credit. This scale expansion is driven by increasing institutional demand for inflation-protected real assets and Brookfield's track record of delivering consistent returns. Energy Transition and AI Infrastructure Focus: Recognizing the massive capital requirements for energy transition and artificial intelligence infrastructure, Brookfield has positioned itself as a key provider of renewable energy and data center solutions. The company signed a landmark 10.5 gigawatt renewable energy agreement with Microsoft and has been actively investing in AI-related infrastructure. This strategic focus capitalizes on two of the largest infrastructure investment themes of the next decade. The company has also maintained an active capital allocation strategy, repurchasing approximately $1 billion in shares annually while continuing to invest in new opportunities and return capital to shareholders through dividends.
BN company profile · for informational purposes only — not investment advice.
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