Comprehensive Stock Comparison
Compare Brookfield Renewable Partners L.P. (BEP) vs Brookfield Renewable Corporation (BEPC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BEP | 10.9% revenue growth vs BEPC's 4.4% |
| Quality / Margins | BEP | 3.3% net margin vs BEPC's -23.2% |
| Stability / Safety | BEP | Beta 0.73 vs BEPC's 0.80, lower leverage |
| Dividends | BEP | 12.7% yield; 1-year raise streak; BEPC pays no meaningful dividend |
| Momentum (1Y) | BEPC | +60.2% vs BEP's +49.6% |
| Efficiency (ROA) | BEP | 0.2% ROA vs BEPC's -1.9%, ROIC 1.0% vs 2.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Brookfield Renewable Partners is one of the world's largest publicly traded renewable power platforms, owning and operating hydroelectric, wind, solar, and storage facilities across multiple continents. It generates revenue primarily through long-term power purchase agreements — selling electricity to utilities and corporate customers — with additional income from development activities and asset sales. Its key advantage is scale and diversification across geographies and technologies, backed by Brookfield Asset Management's deep capital and operational expertise.
Brookfield Renewable Corporation is a global owner and operator of renewable power generation assets — primarily hydroelectric, wind, and solar facilities. It generates revenue by selling electricity under long-term power purchase agreements — with hydro (~50%), wind (~30%), and solar (~20%) as its main segments — and through development and asset management fees. The company's competitive advantage lies in its massive scale, diversified global portfolio, and access to Brookfield Asset Management's capital and development expertise.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BEP leads in 3 of 6 categories (Valuation Metrics, Risk & Volatility). BEPC leads in 2 (Profitability & Efficiency, Total Returns). 1 tied.
Financial Metrics (TTM)
BEP is the larger business by revenue, generating $6.4B annually — 1.7x BEPC's $3.8B. BEP is the more profitable business, keeping 3.3% of every revenue dollar as net income compared to BEPC's -23.2%. On growth, BEP holds the edge at +9.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | BEPBrookfield Renewa… | BEPCBrookfield Renewa… |
|---|---|---|
| RevenueTrailing 12 months | $6.4B | $3.8B |
| EBITDAEarnings before interest/tax | $3.3B | $2.1B |
| Net IncomeAfter-tax profit | $212M | -$877M |
| Free Cash FlowCash after capex | -$8.3B | -$1.8B |
| Gross MarginGross profit ÷ Revenue | +44.8% | +59.0% |
| Operating MarginEBIT ÷ Revenue | +13.3% | +23.5% |
| Net MarginNet income ÷ Revenue | +3.3% | -23.2% |
| FCF MarginFCF ÷ Revenue | -128.7% | -48.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.1% | -10.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +25.3% | +65.3% |
Valuation Metrics
On an enterprise value basis, BEPC's 8.8x EV/EBITDA is more attractive than BEP's 12.7x.
| Metric | BEPBrookfield Renewa… | BEPCBrookfield Renewa… |
|---|---|---|
| Market CapShares × price | $9.7B | $6.2B |
| Enterprise ValueMkt cap + debt − cash | $42.5B | $19.9B |
| Trailing P/EPrice ÷ TTM EPS | -471.51x | 26.21x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | 1.06x |
| EV / EBITDAEnterprise value multiple | 12.72x | 8.77x |
| Price / SalesMarket cap ÷ Revenue | 1.49x | 1.49x |
| Price / BookPrice ÷ Book value/share | 0.26x | 0.51x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
BEP delivers a 0.6% return on equity — every $100 of shareholder capital generates $1 in annual profit, vs $-8 for BEPC. BEP carries lower financial leverage with a 1.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to BEPC's 1.16x. On the Piotroski fundamental quality scale (0–9), BEPC scores 7/9 vs BEP's 5/9, reflecting strong financial health.
| Metric | BEPBrookfield Renewa… | BEPCBrookfield Renewa… |
|---|---|---|
| ROE (TTM)Return on equity | +0.6% | -8.3% |
| ROA (TTM)Return on assets | +0.2% | -1.9% |
| ROICReturn on invested capital | +1.0% | +2.6% |
| ROCEReturn on capital employed | +1.1% | +2.7% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 1.00x | 1.16x |
| Net DebtTotal debt minus cash | $32.7B | $13.7B |
| Cash & Equiv.Liquid assets | $2.1B | $392M |
| Total DebtShort + long-term debt | $34.8B | $14.1B |
| Interest CoverageEBIT ÷ Interest expense | 0.35x | 0.60x |
Total Returns (with DRIP)
A $10,000 investment in BEPC five years ago would be worth $10,737 today (with dividends reinvested), compared to $9,044 for BEP. Over the past 12 months, BEPC leads with a +60.2% total return vs BEP's +49.6%. The 3-year compound annual growth rate (CAGR) favors BEPC at 19.1% vs BEP's 11.4% — a key indicator of consistent wealth creation.
| Metric | BEPBrookfield Renewa… | BEPCBrookfield Renewa… |
|---|---|---|
| YTD ReturnYear-to-date | +15.2% | +8.1% |
| 1-Year ReturnPast 12 months | +49.6% | +60.2% |
| 3-Year ReturnCumulative with dividends | +38.2% | +68.9% |
| 5-Year ReturnCumulative with dividends | -9.6% | +7.4% |
| 10-Year ReturnCumulative with dividends | +214.6% | +76.7% |
| CAGR (3Y)Annualised 3-year return | +11.4% | +19.1% |
Risk & Volatility
BEP is the less volatile stock with a 0.73 beta — it tends to amplify market swings less than BEPC's 0.80 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | BEPBrookfield Renewa… | BEPCBrookfield Renewa… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.73x | 0.80x |
| 52-Week HighHighest price in past year | $32.72 | $45.10 |
| 52-Week LowLowest price in past year | $19.29 | $23.73 |
| % of 52W HighCurrent price vs 52-week peak | +97.1% | +94.7% |
| RSI (14)Momentum oscillator 0–100 | 70.9 | 63.2 |
| Avg Volume (50D)Average daily shares traded | 446K | 783K |
Analyst Outlook
Wall Street rates BEP as "Buy" and BEPC as "Buy". Consensus price targets imply 9.0% upside for BEP (target: $35) vs -15.8% for BEPC (target: $36). BEP is the only dividend payer here at 12.72% yield — a key consideration for income-focused portfolios.
| Metric | BEPBrookfield Renewa… | BEPCBrookfield Renewa… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $34.63 | $36.00 |
| # AnalystsCovering analysts | 20 | 4 |
| Dividend YieldAnnual dividend ÷ price | +12.7% | — |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $4.04 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Aug 20 | Feb 26 | Change |
|---|---|---|---|
| Brookfield Renewabl… (BEP) | 100 | 100 | +0.0% |
| Brookfield Renewabl… (BEPC) | 109.7 | 143.52 | +30.8% |
Brookfield Renewabl… (BEP) returned -10% over 5 years vs Brookfield Renewabl… (BEPC)'s -10%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Brookfield Renewabl… (BEP) | $2.5B | $6.5B | +165.9% |
| Brookfield Renewabl… (BEPC) | $2.0B | $4.1B | +103.5% |
Brookfield Renewable Partners L.P.'s revenue grew from $2.5B (2016) to $6.5B (2025) — a 11.5% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Brookfield Renewabl… (BEP) | -0.9% | -0.3% | +65.4% |
| Brookfield Renewabl… (BEPC) | -0.3% | 5.7% | +2032.7% |
Brookfield Renewable Partners L.P.'s net margin went from -1% (2016) to -0% (2025).
Chart 4P/E Ratio History — 3 Years
| Stock | 2021 | 2024 | Change |
|---|---|---|---|
| Brookfield Renewabl… (BEPC) | 6.7 | 17 | +153.7% |
Brookfield Renewable Corporation has traded in a 3x–17x P/E range over 3 years; current trailing P/E is ~26x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Brookfield Renewabl… (BEP) | -0.15 | -0.07 | +55.1% |
| Brookfield Renewabl… (BEPC) | -0.02 | 1.63 | +8416.3% |
Brookfield Renewable Partners L.P.'s EPS grew from $-0.15 (2016) to $-0.07 (2025).
Chart 6Free Cash Flow — 5 Years
Brookfield Renewable Partners L.P. generated $-5B FCF in 2025 (-324% vs 2021). Brookfield Renewable Corporation generated $-1B FCF in 2024 (-39% vs 2021).
BEP vs BEPC: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is BEP or BEPC a better buy right now?
Brookfield Renewable Corporation (BEPC) offers the better valuation at 26.2x trailing P/E, making it the more compelling value choice. Analysts rate Brookfield Renewable Partners L.P. (BEP) a "Buy" — based on 20 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — BEP or BEPC?
Over the past 5 years, Brookfield Renewable Corporation (BEPC) delivered a total return of +7.4%, compared to -9.6% for Brookfield Renewable Partners L.P. (BEP). A $10,000 investment in BEPC five years ago would be worth approximately $11K today (assuming dividends reinvested). Over 10 years, the gap is even starker: BEP returned +214.6% versus BEPC's +76.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — BEP or BEPC?
By beta (market sensitivity over 5 years), Brookfield Renewable Partners L.P. (BEP) is the lower-risk stock at 0.73β versus Brookfield Renewable Corporation's 0.80β — meaning BEPC is approximately 9% more volatile than BEP relative to the S&P 500. On balance sheet safety, Brookfield Renewable Partners L.P. (BEP) carries a lower debt/equity ratio of 100% versus 116% for Brookfield Renewable Corporation — giving it more financial flexibility in a downturn.
04Which has better profit margins — BEP or BEPC?
Brookfield Renewable Corporation (BEPC) is the more profitable company, earning 5.7% net margin versus -0.3% for Brookfield Renewable Partners L.P. — meaning it keeps 5.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BEPC leads at 24.3% versus 13.4% for BEP. At the gross margin level — before operating expenses — BEPC leads at 57.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — BEP or BEPC?
In this comparison, BEP (12.7% yield) pays a dividend. BEPC does not pay a meaningful dividend and should not be held primarily for income.
06Is BEP or BEPC better for a retirement portfolio?
For long-horizon retirement investors, Brookfield Renewable Partners L.P. (BEP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.73), 12.7% yield, +214.6% 10Y return). Both have compounded well over 10 years (BEP: +214.6%, BEPC: +76.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between BEP and BEPC?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BEP is a small-cap income-oriented stock; BEPC is a small-cap quality compounder stock. BEP pays a dividend while BEPC does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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