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Total assets surged to $525.5 billion in Q2 2026 from $4.4 billion in Q4 2024, but equity/assets ratio fell to 0.32, indicating higher leverage and a strategic shift toward a more capital-intensive model.
| Cash & Short Term Investments | 18.57B | 1.58B | 12M | 9M | 1M | 2.49B | 2.1B |
| Cash & Due from Banks | 14.88B | 1.58B | 12M | 9M | 1M | 2.49B | 2.1B |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 87.68B | 10.32B | 3.33B | 2.27B | 2.38B | 13.84B | 10.96B |
| Investments Growth % | 1301.37% | 209.91% | 46.74% | -4.54% | -82.81% | 26.25% | - |
| Long-Term Investments | 118.66B | 10.32B | 3.33B | 2.27B | 2.38B | 13.84B | 10.96B |
| Accounts Receivables | 48.59B | 731M | 968M | 886M | 245M | 26M | 54M |
| Goodwill & Intangibles | 79.08B | 470M | 289M | 0 | 308M | 313M | 320M |
| Goodwill | 41.93B | 236M | 251M | 0 | 249M | 249M | 249M |
| Intangible Assets | 37.16B | 234M | 38M | 0 | 59M | 64M | 71M |
| PP&E (Net) | 164.92B | 0 | 0 | 0 | 68M | 48M | 21M |
| Other Assets | 84.24B | 327.73M | -214M | 40M | -376M | 0 | 0 |
| Total Current Assets | 105.43B | 4.96B | 980M | 895M | 783M | 9.26B | 8.93B |
| Total Non-Current Assets | 420.09B | 12.25B | 3.41B | 2.31B | 2.38B | 16.47B | 13.54B |
| Total Assets | 525.51B | 17.21B | 4.39B | 3.21B | 3.16B | 25.73B | 22.47B |
| Asset Growth % | 3749.75% | 292.44% | 36.85% | 1.39% | -87.71% | 14.5% | - |
| Return on Assets (ROA) | 1.93% | 23.01% | 57.12% | 57.78% | 13.26% | 7.76% | 1.7% |
| Accounts Payable | 63.71B | 2.91B | 879M | 859M | 781M | 561M | 611M |
| Total Debt | 264.98B | 3.65B | 219M | 256M | 3M | 4.56B | 4.78B |
| Net Debt | 250.1B | 2.07B | 207M | 247M | 2M | 2.07B | 2.68B |
| Long-Term Debt | 250.27B | 2.47B | 0 | 0 | 0 | 4.1B | 4.78B |
| Short-Term Debt | 14.71B | 1.18B | 219M | 256M | 3M | 461M | 0 |
| Other Liabilities | 3.93B | 2.9B | 0 | 0 | -17M | 0 | 0 |
| Total Current Liabilities | 78.42B | 1.18B | 1.11B | 1.12B | 784M | 6.6B | 5.27B |
| Total Non-Current Liabilities | 280.46B | 5.74B | 0 | 0 | 0 | 4.8B | 5.25B |
| Total Liabilities | 358.88B | 6.92B | 1.11B | 1.12B | 784M | 11.4B | 10.52B |
| Total Equity | 166.64B | 10.29B | 3.28B | 2.08B | 2.38B | 14.33B | 11.95B |
| Equity Growth % | 1856.81% | 213.95% | 57.22% | -12.28% | -83.41% | 19.93% | - |
| Equity / Assets (Capital Ratio) | 31.71% | 59.79% | 74.74% | 65.05% | 75.2% | 55.69% | 53.17% |
| Return on Equity (ROE) | 5.61% | 36.63% | 80.85% | 82.43% | 22.93% | 14.23% | 3.2% |
| Book Value per Share | 102.91 | 6.25 | 2.92 | 5.36 | 6.00 | 35.58 | - |
| Tangible BV per Share | 54.07 | 5.97 | 2.67 | 5.36 | 5.22 | 34.80 | - |
| Common Stock | 42.48B | 8.91B | 3.48B | 2.35B | 2.41B | 0 | 0 |
| Additional Paid-in Capital | 0 | 0 | 565M | 403M | 278M | 0 | 0 |
| Retained Earnings | 0 | 0 | -143M | -35M | 19M | 0 | 0 |
| Accumulated OCI | 0 | 0 | 1M | 3M | 0 | 156M | 162M |
| Treasury Stock | 0 | 0 | -651M | -649M | -330M | 0 | 0 |
| Preferred Stock | 4.09B | 0 | 0 | 0 | 0 | 0 | 0 |
Dependence on fee-bearing capital growth
Total assets jumped from $4.4B in 2024Q4 to $525.5B in 2026Q2, a staggering increase, according to recent balance sheet data, reflecting a major strategic transformation.
The dramatic expansion in total assets, from $4.4B to $525.5B, appears to be driven by a strategic shift, possibly related to the consolidation of investment vehicles or a change in reporting scope. This growth is not organic in the traditional sense but suggests a deliberate move to scale the balance sheet, likely to support the asset management business. Investors should monitor whether this expansion is accompanied by commensurate growth in fee-bearing capital and earnings.
As an asset manager, BAM's balance sheet shows no traditional deposit base, with loan-to-deposit ratios unavailable, indicating a funding model reliant on capital markets and parent support.
The absence of deposit data underscores that BAM operates as an asset-light manager, not a traditional bank. Its funding likely comes from parent company capital and institutional investors, which may provide stability but also ties its financial health to the broader Brookfield ecosystem. This structure reduces deposit franchise risk but introduces concentration risk in parent relationships.
Loan loss provisions swung from $331M in 2025Q4 to $127.7M in 2026Q2, a 61% decline, based on reported figures, suggesting improving credit conditions or portfolio changes.
The sharp reduction in loan loss provisions may indicate improving credit quality or a shift in the composition of the loan book. However, the volatility in provisions across quarters (ranging from $100M to $350M) suggests that credit risk is not fully predictable. Given the asset management focus, these provisions likely relate to direct lending activities, which warrant monitoring for potential deterioration in a downturn.
Equity increased from $3.2B in 2024Q4 to $46.6B in 2026Q2, while equity/assets ratio fell from 0.75 to 0.32, as per balance sheet data, indicating higher leverage.
The substantial increase in equity reflects retained earnings and possibly new capital raises, but the equity/assets ratio halved, suggesting that asset growth outpaced equity accumulation. This implies higher leverage, which may be intentional to support investment activities but could amplify losses in adverse scenarios. The capital position appears adequate for the asset management business, but the declining ratio warrants monitoring.
Cash and bank balances rose from $12M in 2024Q4 to $14.9B in 2026Q2, while investment securities grew to $87.7B, according to recent filings, indicating ample liquidity.
The surge in cash and investment securities provides a robust liquidity buffer, which is essential for an asset manager that may need to meet redemption requests or capitalize on investment opportunities. However, the composition of these securities and their marketability are not disclosed, so investors should assess the quality and duration of the portfolio. The high liquidity also suggests that BAM is well-positioned to support its parent if needed.
BAM's balance sheet is clean, but its reliance on parent Brookfield Corporation for capital and reputation is a non-obvious risk, as per industry analysis, potentially affecting fundraising.
While BAM's own balance sheet appears healthy, its business model is inextricably linked to the financial health of its parent, BN. A crisis at BN could impair BAM's ability to raise new funds, regardless of its own metrics. Additionally, the reported assets include significant investments in related entities, which may carry concentration risk. Investors should monitor the parent's leverage and asset quality as a leading indicator for BAM's prospects.
Quick answers to the most common questions about buying BAM stock.
As of 2025, Brookfield Asset Management Ltd. (BAM) had total assets of $17.21B including $4.96B in current assets.
Brookfield Asset Management Ltd. (BAM) carries total debt of $3.65B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Brookfield Asset Management Ltd. (BAM) has total shareholders' equity (book value) of $8.90B ($6.25 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Brookfield Asset Management Ltd. (BAM) reported a current ratio of 4.20x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.