Fundamentals snapshot
BN · NYQ · Financial Services · Asset Management
Current price
$36.67
52-week range
$35.69 - $49.57
Market cap
$81.86B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net debt $254.03B. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Brookfield Corporation acts like a big investment fund, managing money for others and its own, across areas like real estate, energy, and infrastructure. Their main income comes from fees charged on the money they manage and a share of the profits from their investments, which is important because it means their success is tied to how well they pick and grow their investments. They also invest in all sorts of companies, from established ones to startups, looking for profitable opportunities globally.
Brookfield Corporation's story began in 1899 with a utility company in Brazil. Over more than a century, it evolved through various names and mergers, including Edper and Brascan, eventually becoming Brookfield Asset Management in 2005. A significant shift occurred in December 2022 when the company renamed itself Brookfield Corporation and spun off its asset management business, creating two distinct entities. This move allowed Brookfield Corporation to focus on its principal ownership of operating businesses and real assets, while Brookfield Asset Management continues as a separate asset management firm. The company has a history of investing in long-life, high-quality assets that provide essential services globally.
Brookfield Corporation is a global investment firm that focuses on owning and operating businesses and real assets. It manages capital across various sectors, including infrastructure, renewable power, private equity, real estate, and credit. The company invests its own capital alongside capital from institutional investors like pension funds and sovereign wealth funds. Brookfield aims to build long-term wealth by investing in businesses that are essential to the global economy and have stable, predictable cash flows.
The Asset Management segment is where Brookfield acts as a manager for other people's money. It handles a variety of investment products, including long-term private funds, perpetual strategies (investments designed to last indefinitely), and liquid strategies (investments that can be easily bought and sold). This segment is crucial because it generates steady fees for Brookfield, regardless of market performance, by managing capital for institutional and individual clients. It's a key part of Brookfield's strategy to grow its fee-related earnings.
Brookfield's Wealth Solutions business is focused on providing wealth protection products and tailored capital solutions. This segment aims to build a larger retirement and insurance platform. It involves managing insurance and annuity liabilities, which provides Brookfield with long-duration capital that can be invested in its various businesses. Essentially, it's about offering financial products and services to help individuals and institutions manage their wealth and plan for the future.
This segment involves the ownership, operation, and development of assets that generate clean energy. This includes hydroelectric, wind, and solar power facilities, as well as other sustainable solutions aimed at reducing carbon emissions. Brookfield invests heavily in this area, seeing it as a critical part of the global transition to lower-carbon energy systems. The company is committed to supporting decarbonization efforts within its portfolio companies and contributing to a more sustainable future.
The Infrastructure segment focuses on owning, operating, and developing essential services that form the backbone of the global economy. This includes utilities (like water and electricity providers), transportation networks (such as toll roads and ports), midstream assets (which transport energy), and data infrastructure. These are typically long-life assets that generate stable and predictable income, often linked to inflation, making them attractive for long-term investment.
In its Private Equity segment, Brookfield invests in and operates businesses across a range of industries, with a particular focus on business services and industrials. This involves acquiring companies, restructuring them, and improving their operations to create value. It's about taking control of businesses, often those that are complex or require significant operational expertise, and growing them over time. This segment leverages Brookfield's deep operating experience to enhance the performance of its portfolio companies.
The Real Estate segment encompasses the ownership, operation, and development of various property types. This includes core properties (stable, income-producing assets), transitional investments (properties undergoing repositioning), and development projects, such as residential properties. Brookfield's strategy in real estate often involves acquiring and managing large-scale, high-quality assets in prime locations, aiming to generate long-term value and income.
Brookfield's management is focused on scaling its asset management platform and expanding its wealth solutions business. A key priority is to increase the proportion of revenue derived from fee-related earnings (income generated from managing assets) and insurance spread income, rather than relying solely on asset sales. They are also strategically investing in areas like renewable power and transition, infrastructure, private equity, and real estate, where scale, complexity, and long asset lives create barriers to entry. The company is actively seeking to broaden its investor base beyond traditional institutions to include private wealth channels.
Price history
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net debt $254.0B. Interest coverage 1.1x.
Brookfield Corporation's profit covers its interest bill about 1.1 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Total debt $268.91B Interest coverage 1.06x This is the baseline the peer rows are being compared against.
Total debt $56.16B Interest coverage 0.16x -85% vs BN Carries about 6.6x less debt cushion than BN.
Total debt $41.88B Interest coverage 22.32x +2,015% vs BN Carries about 21.1x more debt cushion than BN.
What you should know
The numbers
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What you should know