Latest Ratios: P/E Ratio -85.3x · EV/EBITDA 6.3x · ROE 1.1%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $2.5B | $1.8B | $2.3B | $1.9B | — | — | — |
| Enterprise Value | $45.5B | $46.3B | $9.5B | $10.7B | $14.5B | — | — | — |
| P/E Ratio → | -85.33 | — | — | 4.43 | 2.12 | — | — | — |
| P/S Ratio | 0.07 | 0.09 | 0.22 | 0.34 | 0.27 | — | — | — |
| P/B Ratio | 0.85 | 1.20 | 0.67 | 0.49 | 0.46 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | 16.68 | 10.27 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.74 | 1.16 | 1.57 | 2.14 | — | — | — |
| EV / EBITDA | 6.34 | 6.44 | 11.31 | 6.48 | 10.94 | — | — | — |
| EV / EBIT | 10.96 | 11.14 | 151.30 | 17.17 | 33.26 | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.3% | 19.3% | 7.8% | 11.6% | 9.4% | 6.1% | 7.8% | 8.5% |
| Operating Margin | 15.1% | 15.1% | 0.8% | 8.1% | 6.4% | 3.5% | 4.6% | 5.1% |
| Net Profit Margin | 0.1% | 0.1% | -10.8% | 6.8% | 13.4% | 0.6% | -1.7% | -1.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 1.1% | 1.1% | -24.1% | 11.8% | 35.0% | 1.9% | -5.6% | -4.0% |
| ROA | 0.1% | 0.1% | -4.4% | 2.1% | 4.2% | 0.2% | -1.0% | -0.8% |
| ROIC | 10.7% | 10.7% | 0.4% | 3.0% | 2.5% | 2.0% | 3.8% | 4.3% |
| ROCE | 32.1% | 32.1% | 0.4% | 3.3% | 2.8% | 2.0% | 3.5% | 4.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 21.25 | 21.25 | 3.33 | 1.93 | 3.29 | 6.67 | 2.10 | 1.84 |
| Debt / EBITDA | 6.20 | 6.20 | 10.40 | 5.55 | 10.09 | 9.15 | 5.56 | 5.65 |
| Net Debt / Equity | — | 20.87 | 2.95 | 1.76 | 3.11 | 5.88 | 1.82 | 1.59 |
| Net Debt / EBITDA | 6.09 | 6.09 | 9.21 | 5.08 | 9.54 | 8.07 | 4.80 | 4.88 |
| Debt / FCF | — | — | — | — | — | — | 132.92 | 14.51 |
| Interest Coverage | 4.97 | 4.97 | — | 0.69 | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.47 | 0.47 | 0.61 | 0.57 | 0.82 | 0.69 | 0.98 | 1.01 |
| Quick Ratio | 0.47 | 0.47 | 0.61 | 0.57 | 0.82 | 0.69 | 0.98 | 1.01 |
| Cash Ratio | 0.16 | 0.16 | 0.21 | 0.16 | 0.12 | 0.16 | 0.18 | 0.19 |
| Asset Turnover | — | 1.67 | 0.43 | 0.36 | 0.25 | 0.40 | 0.58 | 0.59 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.8% | 1.3% | 1.0% | 0.8% | 5.2% | — | — | — |
| Payout Ratio | 123.1% | 123.1% | — | 3.5% | 10.5% | 112.9% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 22.6% | 47.1% | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 6.1% | 4.3% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 7.9% | 5.6% | 1.0% | 0.8% | 5.2% | — | — | — |
| Shares Outstanding | — | $70M | $73M | $99M | $99M | $74M | $99M | $99M |
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Quick answers to the most common questions about buying BBUC stock.
Brookfield Business Corporation's current P/E ratio is -85.3x. The historical average is 3.3x.
Brookfield Business Corporation's current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.8x.
Brookfield Business Corporation's return on equity (ROE) is 1.1%. The historical average is 2.3%.
Based on historical data, Brookfield Business Corporation is trading at a P/E of -85.3x. Compare with industry peers and growth rates for a complete picture.
Brookfield Business Corporation's current dividend yield is 1.79% with a payout ratio of 123.1%.
Brookfield Business Corporation has 19.3% gross margin and 15.1% operating margin. Operating margin between 10-20% is typical for established companies.
Brookfield Business Corporation's Debt/EBITDA ratio is 6.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Subsidiary leverage and thin margins
Conglomerate Discount Persists
BBUC trades at 0.96x book, a steep discount to alternative asset managers like Blackstone at 5.05x, reflecting market skepticism about its complex structure and thin margins, as per recent filings.
The P/B of 0.96x implies the market values BBUC's equity at roughly its stated book value, despite a forward P/E of 4.78x suggesting earnings recovery expectations. This discount likely stems from the conglomerate structure and the difficulty in valuing disparate subsidiaries, as evidenced by the negative tangible book value per share in all reported quarters. Investors appear to be pricing in a sum-of-the-parts discount, possibly overlooking the embedded value of nuclear and infrastructure assets.
ROE Trapped by Leverage and Provisions
ROE swung from -20.5% in 2025Q3 to 0.3% in 2026Q2, but remains near zero, as provisions exceeding 70% of revenue and negative NIMs erode earnings, based on reported figures.
The DuPont decomposition reveals that BBUC's profitability is constrained by a negative net interest margin (around -1.0%) and a razor-thin net margin of 0.09%, despite a high asset utilization from fee income. The equity-to-assets ratio of 0.20 indicates high leverage, which amplifies ROE swings but also increases risk. The recent stabilization in ROE appears to be a function of lower provisions, but the underlying earnings power remains weak, as operating cash flow collapsed to $3.4M in 2026Q2.
Negative NIM Masks True Efficiency
BBUC's net interest margin has been consistently negative, at -1.0% in 2026Q1, while the efficiency ratio of 4.4% is misleadingly low due to fee income dominance, as disclosed in financial statements.
The negative NIM indicates that interest expenses exceed interest income, a direct consequence of high debt levels at the corporate and subsidiary level. The efficiency ratio, which is artificially low because non-interest income constitutes 100% of revenue, does not reflect operational cost control. Investors should focus on the consolidated cost structure, which includes significant depreciation and interest burdens, rather than the headline efficiency ratio.
Equity Cushion Dangerously Thin
With equity of $5.4B against $78.8B in assets, BBUC's equity-to-assets ratio of 0.20 is strained, and the reported debt-to-equity of 21.25 likely understates subsidiary leverage, per recent balance sheet data.
The capital position appears inadequate for the risk profile, especially given the surge in provisions to $5.2B in 2026Q2. The reported debt-to-equity jumped from 3.79% to 21.25, suggesting a reclassification or increased consolidation of subsidiary debt, which may indicate higher refinancing risk. This thin equity cushion provides limited absorption capacity for further credit losses or asset write-downs, and investors should monitor any additional leverage increases.
Provision Surge Signals Credit Stress
Loan loss provisions jumped to $5.2B in 2026Q2 from $1.3B in 2025Q3, a 300% increase, suggesting deteriorating credit quality or impairment charges, based on reported financials.
The sharp rise in provisions, which now exceed 70% of revenue, indicates that BBUC's underlying portfolio companies are experiencing significant credit stress. This could be related to the consolidation of CDK Global or other acquisitions, and it raises questions about the adequacy of current reserve levels. The negative tangible book value per share further suggests that asset impairments have eroded equity, and investors should watch for further write-downs.
P/E Misleads on Earnings Power
BBUC's negative trailing P/E of -95.5 and forward P/E of 4.78 are misleading due to non-cash charges and consolidation effects; distributable earnings or NAV growth are more relevant, as per industry analysis.
The most commonly misapplied ratio for BBUC is the P/E, because GAAP net income is distorted by massive non-cash depreciation, amortization, and provision charges. The forward P/E of 4.78 appears attractive but may not reflect true cash generation, as evidenced by the collapse in operating cash flow. Instead, investors should use price-to-tangible book value (though negative) or a sum-of-the-parts valuation based on distributable earnings, which better captures the underlying value of the portfolio companies.