Free cash flow remains highly inconsistent, swinging from a negative $340.1 million in 2025Q2 to a positive $276 million in 2026Q1, while capital expenditures continue to consume a substantial 7.7% of revenue.
| Cash from Operations | 1.23B | -58M | -111M | 138M | 181M | 618M | 514M | 753M |
| Operating CF Margin % | - | -0.21% | -1.35% | 1.8% | 2.66% | 9.69% | 5.35% | 7.6% |
| Operating CF Growth % | 1396.8% | 47.75% | -180.43% | -23.76% | -70.71% | 20.23% | -31.74% | - |
| Net Income | -609.55M | -875M | -1.93B | 519M | 1.08B | 93M | -127M | -134M |
| Depreciation & Amortization | 2.07B | 718M | 780M | 1.02B | 892M | 603M | 585M | 520M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | -126.1M | -77M | -198M | -144M | -493M | -45M | -41M | -68M |
| Other Non-Cash Items | 248.65M | 134M | 1.58B | -931M | -731M | 80M | 133M | 128M |
| Working Capital Changes | -425.23M | 42M | -347M | -330M | -563M | -113M | -36M | 307M |
| Change in Receivables | -544.67M | 155M | -252M | -144.6M | 208M | -81M | -9M | 214M |
| Change in Inventory | -11.07M | 4M | 1M | -87.58M | -67M | 114M | 127M | 33M |
| Change in Payables | 280.14M | -23M | -115M | 103.87M | -692M | -166M | -179M | -39M |
| Cash from Investing | -1.48B | -294M | -335M | 3.79B | -9.23B | -478M | -235M | -4.13B |
| Capital Expenditures | -1.17B | -257M | -297M | -634M | -655M | -728M | -477M | -407M |
| CapEx % of Revenue | 6.88% | 0.94% | 3.62% | 8.25% | 9.63% | 11.42% | 4.97% | 4.11% |
| Acquisitions | 0 | - | - | - | - | - | - | - |
| Investments | 15.87B | 2.58B | 209M | 246M | 265M | 70M | 73M | 91M |
| Other Investing | 43.82M | 18M | 9M | 14.85M | 37M | 242M | -226M | 188M |
| Cash from Financing | 868.06M | -1M | 797M | -3.93B | 8.91B | 14M | -293M | 3.56B |
| Debt Issued (Net) | 0 | - | - | - | - | - | - | - |
| Equity Issued (Net) | 162.09M | 109M | 14.28M | 1.21B | 2.13B | 0 | 0 | 0 |
| Dividends Paid | -198.42M | -32M | -18M | -18M | -96M | -40.64M | -31M | -331.53M |
| Share Repurchases | -46M | -108M | 0 | 0 | 0 | 0 | 0 | -133.02M |
| Other Financing | -454.84M | -111M | 530.72M | -4.5B | -655.12M | 17.64M | -189M | 586.53M |
| Net Change in Cash | 3.53B | -279M | 236M | 36M | -158M | 117M | -15M | 118M |
| Free Cash Flow | 58.93M | -314M | -408M | -496M | -474M | -110M | 37M | 346M |
| FCF Margin % | 0.35% | -1.14% | -4.97% | -6.46% | -6.97% | -1.73% | 0.39% | 3.49% |
| FCF Growth % | 115.15% | 23.04% | 17.74% | -4.64% | -330.91% | -397.3% | -89.31% | - |
| FCF per Share | 0.84 | -4.49 | -5.59 | -5.02 | -4.79 | -1.50 | 0.37 | 3.50 |
| FCF Conversion (FCF/Net Income) | -0.10x | -2.23x | 0.13x | 0.27x | 0.20x | 17.17x | -3.13x | -5.88x |
| Interest Paid | 146M | 2.7B | 689M | 1.02B | 677M | 0 | 0 | 0 |
| Taxes Paid | 19M | 537M | 44M | 162M | 52M | 0 | 0 | 0 |
High subsidiary-level leverage
As reported in financial statements, BBUC frequently exhibits a significant disconnect between net income and operating cash flow, evidenced by the 2025Q3 period where a $500 million net loss was accompanied by only $97 million in operating cash flow, suggesting poor quality of earnings.
The persistent divergence between GAAP net income and operating cash flow suggests that non-cash charges and accounting adjustments are heavily distorting the firm's true economic performance. Investors should monitor this gap closely, as it indicates that reported profitability may not be translating into the liquid resources necessary to service the company's substantial debt obligations.
Based on recent SEC filings, BBUC's free cash flow trajectory is highly erratic, swinging from a negative $340.1 million in 2025Q2 to a positive $276 million in 2026Q1, reflecting the lumpy nature of project-based cash inflows and the impact of large-scale capital expenditures.
The inability to maintain consistent positive free cash flow suggests that the company's underlying business model is highly sensitive to the timing of project completions and capital deployment cycles. This volatility complicates the assessment of the firm's long-term ability to self-fund operations without relying on external financing or asset divestitures.
According to quarterly data, BBUC's capital expenditure reached $489 million in 2026Q1, representing a significant 7.7% of revenue, which highlights the heavy asset-maintenance requirements inherent in the firm's industrial and infrastructure-heavy portfolio compared to traditional asset management peers.
The high level of capital intensity suggests that a substantial portion of operating cash flow is being diverted back into maintaining existing infrastructure and industrial assets. This ongoing requirement for reinvestment may limit the company's flexibility to pursue new growth opportunities or return capital to shareholders during periods of operational stress.
As reported in financial statements, working capital changes have been a major source of cash flow volatility, including a $390 million outflow in 2025Q4, which suggests that the company struggles to manage its cash conversion cycle effectively across its diverse business segments.
These significant fluctuations in working capital indicate potential inefficiencies in collections or inventory management within the firm's construction and industrial subsidiaries. Such instability in cash flow generation warrants further investigation into whether these outflows are temporary timing issues or structural weaknesses in the company's operational cash management.
Quick answers to the most common questions about buying BBUC stock.
Brookfield Business Corporation (BBUC) generated $-58.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Brookfield Business Corporation (BBUC) reported negative free cash flow of $314.0M in 2025, indicating capital requirements exceeded cash from operations.
Brookfield Business Corporation (BBUC) spent $257.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Brookfield Business Corporation (BBUC) returned $32.0M to shareholders via cash dividends and spent $108.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.