The company's financial structure shows increasing fragility, evidenced by a debt-to-equity ratio that has deteriorated from 0.91 in 2024Q1 to 2.15 in 2026Q1.
| Total Assets | 65.58B | 63.42B | 44.13B | 49.42B | 43.29B | 41.99B | 39.47B | 35.76B | 23.37B | 8.65B |
| Asset Growth % | 107.96% | 43.72% | -10.71% | 14.17% | 3.1% | 6.37% | 10.39% | 53.02% | 170.15% | - |
| PP&E (Net) | 53.67B | 54.42B | 38.7B | 44.04B | 37.83B | 37.91B | 36.1B | 32.65B | 21.27B | 7.24B |
| PP&E / Total Assets % | 81.83% | 85.8% | 87.69% | 89.11% | 87.39% | 90.3% | 91.45% | 91.3% | 91.02% | 83.69% |
| Total Current Assets | 8.34B | 5.4B | 3.11B | 3.3B | 3.43B | 2.34B | 1.58B | 1.36B | 889M | 435M |
| Cash & Equivalents | 967.12M | 963.64M | 392M | 441M | 435M | 410M | 355M | 304M | 94M | 75M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 46.05M | 43.86M | 35M | 65M | 18M | 20M | 22M | 37M | 105M | 0 |
| Other Current Assets | 3.54B | 1.22B | 631M | 720M | 1.66B | 666M | 279M | 324M | 130M | 46M |
| Long-Term Investments | 5.85B | 2.18B | 753M | 644M | 451M | 455M | 372M | 360M | 291M | 28M |
| Goodwill | 1.15B | 1.11B | 692M | 854M | 723M | 849M | 970M | 949M | 828M | 901M |
| Intangible Assets | 0 | 0 | 5M | 7M | 208M | 218M | 233M | 241M | 0 | 0 |
| Other Assets | 274.92M | 65.8M | 813M | 478M | 582M | 127M | 217M | 197M | 89M | 47M |
| Total Liabilities | 55.84B | 50.77B | 32.02B | 32.29B | 26.46B | 27.76B | 27.75B | 17.88B | 9.07B | 3.66B |
| Total Debt | 20.97B | 21.33B | 14.09B | 16.57B | 14.08B | 13.88B | 13.21B | 12.3B | 5.54B | 2B |
| Net Debt | 20B | 20.37B | 13.7B | 16.13B | 13.64B | 13.47B | 12.86B | 12B | 5.45B | 1.92B |
| Long-Term Debt | 17.68B | 17.12B | 12.49B | 14.18B | 12.42B | 12.06B | 12.05B | 11.35B | 5.18B | 1.89B |
| Short-Term Borrowings | 3.29B | 3.84B | 1.28B | 1.89B | 1.3B | 1.45B | 775M | 605M | 364M | 110M |
| Capital Lease Obligations | 420.47M | 371.47M | 318M | 501M | 364M | 371M | 392M | 345M | 0 | 0 |
| Total Current Liabilities | 25.03B | 21.18B | 11.25B | 8.34B | 7.25B | 8.97B | 9.84B | 1.42B | 810M | 335M |
| Accounts Payable | 344.7M | 463.31M | 172M | 184M | 154M | 118M | 650M | 319M | 60M | 88M |
| Accrued Expenses | 605M | 0 | 307M | 517M | 343M | 266M | 268M | 283M | 199M | 112M |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 370M | 0 |
| Other Current Liabilities | 21.37B | 16.82B | 8.86B | 5.18B | 4.87B | 6.42B | 8.12B | 199M | 88M | 25M |
| Deferred Taxes | 34.25B | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 1000K | 0 |
| Other Liabilities | 2.78B | 2.03B | 1.49B | 3.49B | 1.2B | 1.36B | 5.5B | 4.78B | 3.08B | 1.43B |
| Total Equity | 9.75B | 12.65B | 12.11B | 17.13B | 16.82B | 14.22B | 11.72B | 17.87B | 14.3B | 4.99B |
| Equity Growth % | -70.43% | 4.52% | -29.31% | 1.81% | 18.27% | 21.32% | -34.4% | 25.03% | 186.32% | - |
| Shareholders Equity | -3.67B | -556.52M | 1.34B | 5.79B | 5.87B | 3.67B | 1.18B | 7.35B | 7.68B | 2.41B |
| Minority Interest | 13.42B | 13.21B | 10.77B | 11.34B | 10.95B | 10.56B | 10.55B | 10.53B | 6.61B | 2.58B |
| Common Stock | 0 | 0 | -7.83B | 0 | 0 | 0 | -5.83B | 1.45B | 2.01B | 1.08B |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -20.19B | -556.52M | 9.17B | 0 | 0 | 0 | 7B | 5.9B | 10.49B | 1.33B |
| Return on Assets (ROA) | -9.62% | -4.36% | 0.5% | -0.39% | 3.53% | 2.32% | -7.28% | 0.74% | 0.45% | -0.07% |
| Return on Equity (ROE) | -48.96% | -18.93% | 1.61% | -1.07% | 9.68% | 7.29% | -18.5% | 1.36% | 0.75% | -0.12% |
| Debt / Equity | 2.15x | 1.69x | 1.16x | 0.97x | 0.84x | 0.98x | 1.13x | 0.69x | 0.39x | 0.40x |
| Debt / Assets | 31.97% | 33.64% | 31.94% | 33.53% | 32.52% | 33.07% | 33.48% | 34.41% | 23.72% | 23.11% |
| Net Debt / EBITDA | 5.84x | 6.06x | 6.04x | 6.69x | 5.60x | 4.23x | 4.23x | 4.38x | 4.87x | 1.43x |
| Book Value per Share | 53.42 | 70.44 | 83.55 | 95.35 | 97.69 | 82.61 | 68.1 | 58.35 | 46.67 | 16.3 |
Elevated leverage and equity erosion
According to the provided financial data, BEPC's net PPE has grown from $38.7 billion in 2024Q4 to $53.7 billion by 2026Q1, reflecting an aggressive deployment of capital into renewable infrastructure that has significantly outpaced the company's ability to retain earnings or maintain a positive equity position.
The rapid expansion of the asset base suggests a strategy focused on scale, yet the concurrent decline in equity indicates that this growth is being funded almost entirely through debt or capital dilution. Investors should monitor whether these assets can generate sufficient returns to reverse the trend of negative equity, which currently sits at -$3.7 billion.
As reported in the quarterly balance sheets, BEPC's debt-to-equity ratio has deteriorated sharply from 0.91 in 2024Q1 to 2.15 in 2026Q1, a trend that highlights the increasing reliance on debt financing to support the company's capital-intensive renewable development pipeline and global acquisition strategy.
The shift in leverage suggests that the company is operating with limited headroom, particularly as the equity base has turned negative. This capital structure appears highly sensitive to interest rate fluctuations, which may further pressure the company's ability to service its $21.0 billion debt load.
Based on the reported figures, BEPC's equity position has collapsed from $6.1 billion in 2024Q1 to a negative $3.7 billion in 2026Q1, a development that warrants further investigation into the sustainability of the company's current dividend and capital allocation policies in the face of persistent losses.
The transition to negative equity suggests that accounting charges and operational losses are eroding the company's book value at an unsustainable rate. This trend may indicate that the underlying assets are not producing the expected economic returns required to maintain a healthy balance sheet.
As indicated by the financial statements, BEPC's current ratio has remained consistently low, dropping to 0.33 in 2026Q1, which suggests that the company maintains minimal short-term liquidity to cover its immediate obligations while simultaneously managing a massive, ongoing capital expenditure program.
The persistently low current ratio implies that the company is heavily reliant on revolving credit facilities or continuous capital market access to meet its short-term funding needs. This lack of liquidity buffer may force the company to prioritize debt service over growth initiatives if market conditions tighten.
Quick answers to the most common questions about buying BEPC stock.
As of 2025, Brookfield Renewable Corporation (BEPC) had total assets of $63.42B including $5.40B in current assets.
Brookfield Renewable Corporation (BEPC) carries total debt of $21.33B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Brookfield Renewable Corporation (BEPC) has total shareholders' equity (book value) of $-556.5M ($70.44 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Brookfield Renewable Corporation (BEPC) reported a current ratio of 0.26x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.