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Brookfield Corporation (BN)

Brookfield Corporation is an investment firm that owns real assets and manages money for other people. Its capital is deployed across three core businesses, asset management, wealth solutions and its own operating businesses, and the filing describes the group as having one of the largest pools of discretionary capital globally. The company was formed by articles of amalgamation dated 1 August 1997, is organised under the Business Corporations Act (Ontario), and changed its name from Brookfield Asset Management Inc. to Brookfield Corporation on 9 December 2022. Its head office is at Brookfield Place on Bay Street in Toronto, the class A limited voting shares are co-listed on the NYSE and the TSX, and all financial information is expressed in US dollars.

Brookfield Corporation

Brookfield Corporation is an investment firm that owns real assets and manages money for other people. Its capital is deployed across three core businesses, asset management, wealth solutions and its own operating businesses, and the filing describes the group as having one of the largest pools of discretionary capital globally. The company was formed by articles of amalgamation dated 1 August 1997, is organised under the Business Corporations Act (Ontario), and changed its name from Brookfield Asset Management Inc. to Brookfield Corporation on 9 December 2022. Its head office is at Brookfield Place on Bay Street in Toronto, the class A limited voting shares are co-listed on the NYSE and the TSX, and all financial information is expressed in US dollars.

Seven segments

Reporting runs through seven operating segments: the asset management business, the wealth solutions business, four operating businesses and corporate activities. The asset management business held over $1 trillion of assets under management at the end of 2025, across infrastructure, renewable power and transition, private equity, real estate and credit. Brookfield's capital in it sits through a 73% ownership interest in Brookfield Asset Management, which in turn holds 100% of the asset management business, after the Corporation exchanged its interest in the Asset Management Company for an interest in BAM on a one-for-one basis in February 2025. In June 2025 it contributed 65,000,000 BAM class A shares, an approximately $3.3 billion economic interest, to Brookfield Wealth Solutions in exchange for newly issued class C shares.

Asset management

The business manages long-term private funds, perpetual strategies and liquid strategies on behalf of investors and of itself, earning contractual base management fees together with incentive distributions and performance income including performance fees, transaction fees and carried interest. It also invests directly into and alongside the private funds BAM manages. Fee-bearing capital, meaning the client capital on which fees are earned, rose 12% to $603 billion in 2025, and 87% of it is long-dated or perpetual. Clients include sovereign wealth funds, pension plans, endowments, foundations, financial institutions, insurance companies and individual investors.

Wealth solutions

Wealth solutions is an equity accounted interest in Brookfield Wealth Solutions, an investment-led insurance organisation selling retirement services, wealth protection products and tailored capital solutions to individuals and institutions. The filing calls it a paired entity to Brookfield Corporation, an arrangement it says lets the shareholders of both keep the economic return of the assets and securities transferred between them.

The operating businesses

Renewable Power and Transition owns, operates and develops hydroelectric, wind and utility-scale solar generating assets, plus distributed energy and sustainable solutions. Infrastructure covers utilities, transport, midstream and data assets. Private Equity spans a broad range of industries and is mostly ownership and operations in business services and industrials. Real Estate runs from super core and core plus through value add and opportunistic to North American Residential. Net operating income is the key metric for real estate and funds from operations for the other operating businesses, while asset management and wealth solutions are measured on distributable earnings.

People and leverage

The asset management business has a team of over 5,800 investment and asset management professionals and employees, a figure that includes Oaktree employees who become Brookfield employees once that acquisition completes, plus approximately 1,500 fully dedicated Brookfield operating employees. Behind them sit approximately 250,000 operating employees in over 50 countries on five continents. Underlying investments are typically funded at investment-grade levels on a standalone and non-recourse basis, and only 6% of the total leverage reported in the consolidated financial statements has recourse to Brookfield Corporation. The stated aim is 15%+ annualised returns to shareholders over the long term.

From Brookfield Corporation's annual report on Form 40-F for the year ended 31 December 2025. The business and the discussion are attached to that filing as exhibits, the Annual Information Form and the Management's Discussion and Analysis, each read as a whole document rather than from a separately located section. The filing

Compare with another name

Brookfield Corporation files a 40-F with the SEC once a year, in US dollars. In the year to 31 December 2025 it reported revenue of USD 75,100 million, down 12.7% on the year before. Its profit attributable to shareholders was USD 1,307 million, up 103.9%, and diluted earnings per share USD 0.49.

Brookfield (BN) in brief

Brookfield (BN) reported revenue of USD 75.1 billion for the year to 31 December 2025, down 12.7% on the year before.
Read moreProfit attributable to shareholders was USD 1.3 billion and diluted earnings per share USD 0.49. Revenue was USD 86.0 billion in 2024, USD 95.9 billion in 2023, USD 92.8 billion in 2022 and USD 75.7 billion in 2021. Profit attributable to shareholders in the same years was USD 641 million, USD 1.1 billion, USD 2.1 billion and USD 4.0 billion. Revenue grew 3.7% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of Brookfield was $94.6 billion, 86.5 times its earnings for 2025.

The share in the US

Last close$42.38 on 10 November 2026
52-week range$35.94 (14 October 2026) to $49.17 (6 January 2026)
Over one yeardown 8.0%
Market cap$94.6 billion: 2,233,003,705 shares outstanding at 30 June 2026 (6-K, Class A and Class B, excluding 169,607,525 Class A shares the company holds), each US share standing for one ordinary share
P/E, latest fiscal year86.5: the last close over diluted EPS for the year to Dec 2025, USD 0.49 per ordinary share. The company reports once a year, so this is the latest fiscal year, not the last four quarters.

US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.

Ratios

From the latest annual report, the year to Dec 2025, in dollars

ROE0.8%
ROCEn/a
Operating marginn/a
Net margin1.7%
FCF margin-5.1%
Interest covern/a
Debt to equity0.09
Cash conversion8.38
Share count, last 12 months-0.9%
Sales CAGR, 3 years-6.8%
Profit CAGR, 3 years-14.0%
EPS$0.49

At the close of 10 November 2026

Price$42.38
Market cap$94.6 billion
Stock P/E86.49
Price to book0.57
EV / EBITDAn/a
Dividend yield0.8%
Market cap / sales1.26
52-week high$49.17
52-week low$35.94
Price, 1 year-8.0%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings total Brookfield Corporation states in its annual report, never added up from its parts; lease liabilities are a separate line. Nothing here is a valuation or a view.
BNgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed. Sales and margin are each year's revenue and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet and its share count per US share. The dashed line is the median over the range shown. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BN

Dividends$0.24 a share in FY2025
Filings40 in twelve months: 39 reports on Form 6-K, most often brookfield Corporation to Issue C$150 Million of Preferred Shares (1); brookfield Corporation to Host Third Quarter 2026 Results Conference Call (1); fourteenth Supplemental Indenture (1); brookfield Finance Inc. 5.650% Notes Due 2031 Underwriting Agreement (1); US$ 600,000,000 5.650% notes due 2031 final TERM sheet (1)
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 1.24 by open interest at the 10 November 2026 close; the straddle prices a 5.4% move to 20 November 2026
13F holders944 funds reported a position for the quarter to 30 June 2026; largest Partners Value Investments L.P.
Congress0 House trades disclosed in six months
Short interest21.7 million shares short, 4.01 days to cover at 30 October 2026

Income statement (profit and loss), 10 fiscal years

Year toDec 2016Dec 2017 †Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue24,41140,78656,77167,82662,75275,73192,76995,92486,00675,100
Cost of sales12,48726,46137,50641,46335,15044,14954,04452,22440,12428,351
Selling, general and administrative1,5441,3391,7652,6122,8603,1973,9315,3544,9325,131
Income tax-345613-2484958372,3241,4691,0119821,135
Profit for the year3,3384,5517,4885,35470712,3885,1955,1051,8533,235
Profit attributable to shareholders1,6511,4623,5842,807-1343,9662,0561,1306411,307
Filing40-F40-F40-F40-F40-F40-F40-F40-F40-F40-F
USD million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
Read moreA line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Dec 2017); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.
Year toDec 2016Dec 2017 †Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Diluted EPS1.551.343.401.73-0.122.391.190.610.200.49
Basic EPS1.581.373.471.78-0.122.471.220.620.210.51
Filing40-F40-F40-F40-F40-F40-F40-F40-F40-F40-F

USD per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.

Revenue by segment

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
Private Equity24,22036,82843,09937,16146,25257,54055,73941,32128,80735.6%
Infrastructure3,8595,0137,0919,29411,94114,66418,24021,52524,22629.9%
Asset management28618727124630613,24415,03910,04314,39917.8%
Renewable Power and Transitionn/an/an/an/an/an/a5,3106,4857,6429.4%
Real Estate1n/an/an/an/an/a6,4896,2046,1565,4116.7%
Corporate Activities3622345088721691253414764610.6%
Real Estate6,8248,07510,4428,8519,923n/an/an/an/an/a
Renewable Power2,7883,7513,9594,0854,580n/an/an/an/an/a
Residential Development2,4472,6832,4562,2432,560n/an/an/an/an/a
Sales between segments, taken outn/an/an/an/an/an/a-4,949n/a-5,846n/a
Private EquityInfrastructureAsset managementRenewable Power and Transition FY2023 to FY2025Real Estate1 FY2022 to FY2025Corporate ActivitiesReal Estate FY2017 to FY2021Renewable Power FY2017 to FY2021Residential Development FY2017 to FY2021
40.8Dec 201767.8Dec 201975.7Dec 2021100.9Dec 202380.9Dec 2025

USD billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

USD million, from the latest 40-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Revenue by region

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
United States8,2849,75616,58418,04819,69424,72428,25726,13427,35636.4%
Canada5,8836,4226,2025,9067,54810,75210,0368,8657,80810.4%
Other Europe6173,2756,2856,1916,9249,0849,5018,8097,0229.4%
United Kingdom15,10623,68421,84716,03221,49725,09023,43215,6766,9849.3%
Brazil3,2064,0484,0993,3233,7305,2945,7785,2335,4837.3%
Australia4,4054,9685,5225,5285,8926,0416,0796,6835,3147.1%
Indian/an/a8031,2842,5202,7432,9833,9264,2455.7%
Other1,1961,3812,7902,2901,7611,9552,3012,5053,1434.2%
Other Asia1,1191,6431,5992,3882,7083,0422,9923,1122,7443.7%
CO9701,5942,0951,7621,8902,1352,3732,7522,6793.6%
Germanyn/an/an/an/a1,5671,9092,1922,3112,3223.1%
United StatesCanadaOther EuropeUnited KingdomBrazilAustraliaIndia FY2019 to FY2025Other
40.8Dec 201767.8Dec 201975.7Dec 202195.9Dec 202375.1Dec 2025

USD billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

USD million, from the latest 40-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Cash flow statement

Year toDec 2016Dec 2017 †Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Cash from operations3,0834,0055,1596,3288,3417,8748,7516,4677,56910,958
Purchase of property, plant and equipment1,4721,6901,9623,0534,0126,8817,2368,06911,17214,752
Free cash flow1,6112,3153,1973,2754,3299931,515-1,602-3,603-3,794
Cash from investing-8,557-11,394-19,833-36,674-13,873-21,045-39,650-29,762-29,964-31,777
Cash from financing6,9938,18518,13628,7468,69816,26132,46019,92726,90021,687
Depreciation and amortisation2,0202,3453,1024,8765,7916,4377,6839,0759,73710,379
Dividends paid6336857267728671,4861,029602663719
Filing40-F40-F40-F40-F40-F40-F40-F40-F40-F40-F
USD million, from the cash flow statement as filed.
Read morePurchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.

Balance sheet at year end

Year toDec 2016Dec 2017 †Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Funded by
Equity attributable to shareholders69,68879,87297,150116,846122,642134,741141,891168,242165,383166,194
Non-controlling interests43,23551,628n/an/an/an/an/an/an/an/a
Borrowings, as filed52,4425,6596,4097,0839,07710,87511,39012,16014,23214,301
Lease liabilitiesn/an/a0.05,4948,2239,0418,5068,8829,8019,201
Other liabilitiesn/a55,561152,722194,546203,754236,346279,497300,811301,008329,275
Total equity and liabilities159,826192,720256,281323,969343,696391,003441,284490,095490,424518,971
Owned
Property, plant and equipment45,34653,00567,29489,264100,009115,489124,268147,617153,019165,992
Goodwill3,7835,3178,81514,55014,71420,22728,66234,91135,73043,355
Other intangible assets6,07314,24218,76227,71024,65830,60938,41138,99436,07238,496
Cash and cash equivalents4,2995,1398,3906,7789,93312,69414,39611,22215,05116,242
Trade and other receivables6,4908,49211,91113,86214,18716,09819,48920,26320,28322,772
Inventories2,9873,5854,5787,0546,3378,5579,1087,0605,4185,923
Other assets90,848102,940136,531164,751173,858187,329206,950230,028224,851226,191
Total assets159,826192,720256,281323,969343,696391,003441,284490,095490,424518,971
Filing40-F40-F40-F40-F40-F40-F40-F40-F40-F40-F
USD million, at each fiscal year end.
Read moreBoth totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toDec 2016Dec 2017 †Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Net margin6.8%3.6%6.3%4.1%-0.2%5.2%2.2%1.2%0.7%1.7%
Free cash flow margin6.6%5.7%5.6%4.8%6.9%1.3%1.6%-1.7%-4.2%-5.1%
Return on year-end equity2.4%1.8%3.7%2.4%-0.1%2.9%1.4%0.7%0.4%0.8%
Filing40-F40-F40-F40-F40-F40-F40-F40-F40-F40-F

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Questions

What was Brookfield's revenue in 2025?

Brookfield (BN) reported revenue of USD 75.1 billion for the year to 31 December 2025, down 12.7% on the year before.

How much did Brookfield earn in 2025?

Profit attributable to shareholders was USD 1.3 billion for the year to 31 December 2025, and diluted earnings per share USD 0.49.

What is Brookfield's P/E ratio?

At the close of 10 November 2026, Brookfield traded at 86.5 times its earnings for 2025.

What is Brookfield's market cap?

The market cap of Brookfield was $94.6 billion at the close of 10 November 2026.

Peers: Real Estate

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Brookfield Corporation BN *$94.6 billion86.490.8%n/a-12.7%0.090.8%
CBRE Group, Inc. CBRE$38.9 billion28.8615.9%4.6%14.5%0.91n/a
KE Holdings Inc. BEKE *$20.4 billion46.854.5%2.2%1.2%0.022.0%
Jones Lang Lasalle Inc. JLL$17.1 billion16.2014.3%4.9%11.4%0.28n/a
Invitation Homes Inc. INVH$15.8 billion23.757.7%11.5%7.2%0.994.4%
Compass, Inc. COMP$7.6 billion71.214.2%-1.4%89.8%1.00n/a
Terreno Realty Corp. TRNO$7.4 billion19.967.7%41.6%17.2%0.203.2%
Millrose Properties, Inc. MRP$4.3 billion8.668.6%85.2%n/a0.5311.7%
St. Joe Co. JOE$4.1 billion34.5315.8%32.0%11.1%0.710.9%
Marriott Vacations Worldwide Corp. VAC$4.0 billionn/a-11.8%-0.9%4.6%2.552.8%
Curbline Properties Corp. CURB$3.6 billion122.251.2%17.6%50.6%0.262.4%
Piedmont Realty Trust, Inc. PDM$1.2 billionn/a-6.1%13.8%2.9%1.621.3%
All 38 in Real Estate
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Brookfield Corporation BN *$94.6 billion86.490.8%n/a-12.7%0.090.8%
CBRE Group, Inc. CBRE$38.9 billion28.8615.9%4.6%14.5%0.91n/a
KE Holdings Inc. BEKE *$20.4 billion46.854.5%2.2%1.2%0.022.0%
Jones Lang Lasalle Inc. JLL$17.1 billion16.2014.3%4.9%11.4%0.28n/a
Invitation Homes Inc. INVH$15.8 billion23.757.7%11.5%7.2%0.994.4%
Compass, Inc. COMP$7.6 billion71.214.2%-1.4%89.8%1.00n/a
Terreno Realty Corp. TRNO$7.4 billion19.967.7%41.6%17.2%0.203.2%
Millrose Properties, Inc. MRP$4.3 billion8.668.6%85.2%n/a0.5311.7%
St. Joe Co. JOE$4.1 billion34.5315.8%32.0%11.1%0.710.9%
Marriott Vacations Worldwide Corp. VAC$4.0 billionn/a-11.8%-0.9%4.6%2.552.8%
Curbline Properties Corp. CURB$3.6 billion122.251.2%17.6%50.6%0.262.4%
Cushman & Wakefield Ltd. CWK$3.3 billion47.903.3%4.5%10.2%1.24n/a
Urban Edge Properties UE$2.6 billion25.187.4%n/a5.5%1.213.9%
Newmark Group, Inc. NMRK$2.0 billion13.6510.3%7.4%17.5%1.501.6%
Getty Realty Corp. GTY$1.9 billion17.508.0%63.5%12.3%0.936.8%
Innovative Industrial Properties Inc. IIPR$1.5 billion12.437.7%51.4%-4.4%0.3813.8%
Ellington Financial Inc. EFC$1.5 billion6.8410.3%38.7%48.5%2.0313.7%
Piedmont Realty Trust, Inc. PDM$1.2 billionn/a-6.1%13.8%2.9%1.621.3%
Opendoor Technologies Inc. OPEN$1.2 billionn/a-278.5%-19.0%-28.8%5.17n/a
Forestar Group Inc. FOR$1.2 billion6.949.2%n/a11.8%0.43n/a
Marcus & Millichap, Inc. MMI$936 million63.232.6%1.3%10.0%0.002.0%
Sky Harbour Group Corp. SKYH$861 millionn/a1.3%-69.9%54.3%1.09n/a
Five Point Holdings, LLC FPH$648 million11.231.3%-2.9%-39.1%0.19n/a
Gladstone Commercial Corp. GOOD$489 million51.4112.5%n/a10.6%5.8011.9%
Hudson Pacific Properties, Inc. HPP$486 millionn/a-25.1%n/a2.8%1.310.0%
Agnt, Inc. AGNT$476 millionn/a-9.2%-0.3%7.7%0.006.9%
Tejon Ranch Co. TRC$476 million60.721.6%5.8%45.4%0.20n/a
FRP Holdings, Inc. FRPH$365 million1,899.000.0%11.6%2.5%0.50n/a
American Realty Investors Inc. ARL$351 million41.811.3%-18.3%6.8%0.350.0%
Maui Land & Pineapple Co. Inc. MLP$298 millionn/a-14.9%-36.3%-4.1%0.28n/a
Alico, Inc. ALCO$277 million169.951.5%-138.0%-61.4%0.810.5%
Claros Mortgage Trust, Inc. CMTG$240 millionn/a-44.3%n/a-31.1%1.85n/a
Douglas Elliman Inc. DOUG$158 million2.6432.4%5.3%-3.5%0.00n/a
Amrep Corp. AXR$115 million19.764.2%14.8%-15.3%0.00n/a
Mobile Infrastructure Corp. BEEP$93 millionn/a-15.4%n/a-0.8%1.54n/a
Star Holdings STHO$93 millionn/a-14.0%-9.4%-10.2%0.67n/a
Seritage Growth Properties SRG$89 millionn/a-20.1%-172.0%-23.7%0.17n/a
Intergroup Corp. INTG$84 million51.25n/a16.0%14.9%n/an/a
1 company shares its SEC industry code (Opeators Of Nonresidential Buildings); the rest are the names nearest in size in its wider industry, Real Estate, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Annual reports on EDGAR

FormYear toFiled
40-F31 December 202518 March 2026EDGAR
40-F31 December 202424 March 2025EDGAR
40-F31 December 202319 March 2024EDGAR
40-F31 December 202224 March 2023EDGAR
40-F31 December 202131 March 2022EDGAR
40-F/A31 December 202029 March 2021EDGAR
40-F31 December 202024 March 2021EDGAR
40-F31 December 201927 March 2020EDGAR
40-F31 December 201829 March 2019EDGAR