Latest Ratios: P/E Ratio 166.8x · EV/EBITDA 14.9x · ROE -0.1%. (1999–2025 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.5B | $7.7B | $6.5B | $7.4B | $7.0B | $9.8B | $11.9B | $5.5B | $3.0B | $5.0B | $3.7B |
| Enterprise Value | $43.0B | $41.2B | $39.3B | $37.2B | $31.7B | $30.9B | $29.7B | $16.3B | $13.4B | $15.8B | $13.6B |
| P/E Ratio → | 166.79 | — | — | — | — | — | — | — | 125.55 | — | — |
| P/S Ratio | 1.47 | 1.19 | 1.11 | 1.47 | 1.48 | 2.40 | 3.10 | 1.38 | 0.80 | 1.92 | 1.52 |
| P/B Ratio | 0.26 | 0.22 | 0.18 | 0.25 | 0.27 | 0.41 | 0.54 | 0.30 | 0.18 | 0.35 | 0.29 |
| P/FCF | — | — | — | — | — | — | 13.27 | 5.26 | 3.67 | 8.48 | — |
| P/OCF | 6.28 | 5.10 | 5.36 | 3.91 | 4.25 | 13.53 | 8.69 | 4.41 | 2.89 | 5.24 | 5.95 |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.31 | 6.68 | 7.38 | 6.73 | 7.55 | 7.79 | 4.11 | 3.54 | 6.03 | 5.53 |
| EV / EBITDA | 14.91 | 12.33 | 12.70 | 12.88 | 10.52 | 13.05 | 8.09 | 6.97 | 7.23 | 10.57 | 10.46 |
| EV / EBIT | 49.31 | 15.83 | 21.96 | 16.95 | 23.32 | 33.30 | 31.50 | 14.53 | 11.08 | 20.53 | 22.88 |
| EV / FCF | — | — | — | — | — | — | 33.27 | 15.70 | 16.31 | 26.67 | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.8% | 16.8% | 56.1% | 61.6% | 69.6% | 66.7% | 66.6% | 68.2% | 66.5% | 62.7% | 57.7% |
| Operating Margin | 13.4% | 13.4% | 18.4% | 20.6% | 30.4% | 21.2% | 60.5% | 27.0% | 18.6% | 27.3% | 21.1% |
| Net Profit Margin | -0.3% | -0.3% | -3.7% | -1.0% | -2.6% | -3.3% | -6.5% | -1.1% | 1.6% | -0.2% | -0.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.1% | -0.1% | -0.7% | -0.2% | -0.5% | -0.6% | -1.3% | -0.2% | 0.4% | -0.0% | -0.2% |
| ROA | -0.0% | -0.0% | -0.3% | -0.1% | -0.2% | -0.3% | -0.6% | -0.1% | 0.2% | -0.0% | -0.1% |
| ROIC | 0.9% | 0.9% | 1.3% | 1.4% | 2.2% | 1.5% | 5.0% | 2.8% | 2.0% | 2.3% | 2.0% |
| ROCE | 1.1% | 1.1% | 1.5% | 1.6% | 2.6% | 1.7% | 5.7% | 3.2% | 2.3% | 2.6% | 2.3% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.02 | 1.02 | 0.98 | 1.03 | 0.98 | 0.92 | 0.85 | 0.61 | 0.62 | 0.82 | 0.80 |
| Debt / EBITDA | 10.70 | 10.70 | 11.61 | 10.70 | 8.54 | 9.28 | 5.04 | 4.75 | 5.77 | 7.85 | 7.85 |
| Net Debt / Equity | — | 0.96 | 0.90 | 0.99 | 0.94 | 0.88 | 0.82 | 0.60 | 0.60 | 0.76 | 0.78 |
| Net Debt / EBITDA | 10.01 | 10.01 | 10.60 | 10.31 | 8.21 | 8.90 | 4.86 | 4.64 | 5.60 | 7.21 | 7.59 |
| Debt / FCF | — | — | — | — | — | — | 20.00 | 10.44 | 12.64 | 18.19 | — |
| Interest Coverage | 1.04 | 1.04 | 0.90 | 1.35 | 1.11 | 0.95 | 0.97 | 1.12 | 1.25 | 1.22 | 0.98 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.57 | 0.57 | 0.61 | 0.57 | 0.85 | 0.90 | 0.61 | 0.88 | 1.16 | 0.66 | 0.52 |
| Quick Ratio | 0.56 | 0.56 | 0.60 | 0.56 | 0.84 | 0.89 | 0.60 | 0.88 | 1.16 | 0.66 | 0.52 |
| Cash Ratio | 0.12 | 0.12 | 0.25 | 0.17 | 0.25 | 0.31 | 0.22 | 0.16 | 0.22 | 0.42 | 0.23 |
| Asset Turnover | — | 0.07 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.11 | 0.11 | 0.08 | 0.09 |
| Inventory Turnover | 30.68 | 30.68 | 16.75 | 17.41 | 34.14 | 44.03 | 49.00 | — | — | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 13.0% | 15.0% | 15.5% | 13.6% | 12.6% | 8.6% | 6.8% | 12.8% | 20.2% | 12.2% | 13.9% |
| Payout Ratio | — | — | — | — | — | — | — | — | 1000.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | — | — | — | — | — | — | — | 0.8% | — | — |
| FCF Yield | — | — | — | — | — | — | 7.5% | 19.0% | 27.2% | 11.8% | — |
| Buyback Yield | 0.0% | 0.0% | 2.7% | 0.6% | 3.5% | 1.5% | 0.0% | 0.0% | 1.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 13.0% | 15.0% | 18.2% | 14.2% | 16.1% | 10.1% | 6.8% | 12.8% | 21.8% | 12.2% | 13.9% |
| Shares Outstanding | — | $287M | $285M | $282M | $275M | $275M | $275M | $220M | $219M | $271M | $235M |
Includes 30+ ratios · 27 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying BEP stock.
Brookfield Renewable Partners L.P.'s current P/E ratio is 166.8x. The historical average is 45.1x. This places it at the 100th percentile of its historical range.
Brookfield Renewable Partners L.P.'s current EV/EBITDA is 14.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
Brookfield Renewable Partners L.P.'s return on equity (ROE) is -0.1%. The historical average is 2.2%.
Based on historical data, Brookfield Renewable Partners L.P. is trading at a P/E of 166.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Brookfield Renewable Partners L.P.'s current dividend yield is 12.98%.
Brookfield Renewable Partners L.P. has 16.8% gross margin and 13.4% operating margin. Operating margin between 10-20% is typical for established companies.
Brookfield Renewable Partners L.P.'s Debt/EBITDA ratio is 10.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Persistent negative earnings and rate sensitivity
Yield Carries Valuation Despite Negative Earnings
Based on the supplied data, BEP trades at a 13.0% dividend yield and 0.26x book value while trailing P/E of -462.02 is not meaningful, so the market appears to anchor value on distributions rather than earnings. Investors should monitor whether the yield reflects durable cash coverage.
The negative trailing P/E indicates that reported net income is too depressed to serve as a valuation anchor, so the 13.0% yield and 0.26x price-to-book ratio are the more informative signals in the data. A yield this elevated relative to the sector suggests the market is pricing meaningful distribution risk or a capital structure that the consolidated figures do not fully reveal. The gap between a 0.26x P/B and a price well below book may reflect skepticism about the carrying value of the asset base rather than a clear bargain.
Earned Returns Lag Asset Base Expansion
As reported in financial statements, BEP's ROE stayed near -0.3% across most recent quarters while total assets grew substantially, indicating the asset base is not converting into earned equity returns. The gap suggests returns are still being absorbed by financing and depreciation costs.
Because BEP is not a traditional rate-regulated utility, the usual authorized-versus-earned ROE comparison does not map cleanly, but the persistent negative ROE shows the asset expansion has not yet produced positive equity returns. The single positive quarter, 1.2% ROE in 2025Q4, appears to be driven by a one-off gain rather than steady-state earnings power. Investors should treat this as a conversion problem rather than a regulatory lag problem.
Operating Margin Compression Under Asset Load
Based on reported figures, operating margin fell from 19.4% in 2025Q2 to 6.9% in 2026Q3 while depreciation rose steadily, suggesting operating cost and asset burdens are absorbing more of revenue. The trend warrants close monitoring of unit cost recovery.
The compression in operating margin points to rising depreciation and operating costs relative to revenue, which may indicate that newer solar and wind assets carry higher O&M intensity than the legacy hydro fleet. Revenue growth has not translated into proportional operating income, which suggests cost recovery through contracted pricing is lagging the cost base. This pattern implies that margin stability depends heavily on hydrology and contract escalators performing as expected.
Reported Leverage Masks Consolidated Debt Load
According to the supplied ratios, debt-to-capital sits near 0.51 to 0.53 and interest coverage fell from 0.95 to 0.18 in 2026Q3, indicating thin earnings cushion against financing costs. The consolidated liability load appears larger than the headline ratio implies.
Debt-to-capital has been stable around 0.5, but the interest coverage ratio's decline to 0.18 in the latest quarter suggests operating income is barely covering financing costs in that period. FFO-to-debt of roughly 1.0 to 1.7 appears adequate on paper, yet the consolidated debt base is far larger than the capital figures imply, so the reported ratios likely understate project-level obligations. Investors should monitor refinancing schedules under a higher-for-longer rate backdrop.
Distribution Coverage Depends on Capital Markets
As reported in financial statements, operating cash flow covered distributions at only 0.5x in 2026Q1 and 1.1x in 2026Q3, while capex far exceeded operating cash generation. The 13.0% yield appears dependent on continued external financing.
Distribution coverage from operating cash flow is volatile and frequently below 1.0x, indicating that the payout is not fully funded internally. Given capex ranging from several hundred million to billions per quarter against operating cash flow near $150M to $510M, the distribution appears to be financed by capital recycling and debt rather than retained cash generation. This makes the sustainability of the yield contingent on access to capital markets.
Book Value Ratios Mislead on Asset Economics
Based on the supplied data, the 0.26x price-to-book and reported 1.02 debt-to-equity may appear attractive, but equity has contracted sharply while total assets grew, which may indicate that book value is an unreliable anchor for this partnership. Analysts should consolidate project-level debt before relying on either ratio.
The most commonly misapplied measure here is price-to-book, because a low P/B for a capital-intensive partnership can reflect accumulated losses, distributions exceeding retained earnings, or non-recourse project debt sitting outside the reported equity base rather than genuine undervaluation. A better alternative is to value the business on FFO or cash available for distribution per unit, adjusted for consolidated project-level debt, which better captures the economic earnings of the hydro and renewable portfolio.