The firm's financial risk is underscored by a debt-to-equity ratio that reached 1.88 in 2025Q4, reflecting a heavy reliance on leverage to support a net PPE base that has grown to $168.8B.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Total Current Assets | 59.07B | 71.38B | 56.17B | 46.7B | 53.39B | 56.27B | 41.86B | 34.8B | 30.45B | 21.39B | 17.44B | 13.31B | 16.33B | 12.28B | 16.76B | 15.95B | 26.48B | 16.07B | 13.19B | 12.49B | 9.52B | 6.97B | 5.12B | 4.86B | 3.02B | 1.76B | 888M | 0 | 0 | 0 |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | -1K | 0 | 10.29B | 2.49B | 2.83B | 11.96B | -418M | -2.13B | -3.32B | -1.75B | -3.02B | -964M | 163M | -2.57B | 846M | 719M | 787M | 0 | 0 | -3.81B | 960M | 0 | 1.22B | 854M | 0 | 999.92K | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 462.25B | 447.59B | 434.25B | 443.39B | 387.9B | 334.73B | 301.84B | 289.17B | 225.84B | 171.33B | 142.39B | 126.2B | 113.15B | 100.46B | 92.1B | 75.07B | 51.65B | 45.83B | 40.41B | 43.11B | 31.19B | 15.43B | 14.89B | 11.45B | 11.46B | 12.01B | 6.77B | 7.47B | 7.11B | 7.26B |
| Property, Plant & Equipment | 168.8B | 251.6B | 153.02B | 147.62B | 124.27B | 115.49B | 100.01B | 89.26B | 67.29B | 53.01B | 45.35B | 37.27B | 34.62B | 31.02B | 31.11B | 22.83B | 18.52B | 41.66B | 36.77B | 37.79B | 28.08B | 13.57B | 12.23B | 11.45B | 9.54B | 10.66B | 5.29B | 0 | 0 | 0 |
| Fixed Asset Turnover | 0.42x | 0.30x | 0.56x | 0.65x | 0.75x | 0.66x | 0.63x | 0.76x | 0.84x | 0.77x | 0.54x | 0.53x | 0.53x | 0.65x | 0.60x | 0.70x | 0.74x | 0.29x | 0.35x | 0.25x | 0.25x | 0.38x | 0.32x | 0.29x | 0.32x | 0.07x | 0.15x | - | - | - |
| Goodwill | 43.1B | 43.35B | 35.73B | 34.91B | 28.66B | 20.23B | 14.71B | 14.55B | 8.81B | 5.32B | 3.78B | 2.54B | 1.41B | 1.59B | 2.49B | 2.61B | 2.55B | 2.34B | 2.01B | 1.53B | 669M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 38.31B | 38.5B | 36.07B | 38.99B | 38.41B | 30.61B | 24.66B | 27.71B | 18.76B | 14.24B | 6.07B | 5.17B | 4.33B | 5.04B | 5.76B | 3.97B | 3.81B | 1.82B | 1.63B | 1.77B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 497.66B | 109.91B | 89.06B | 81.78B | 66.43B | 55.68B | 53.57B | 49.56B | 36.49B | 34.23B | 26.45B | 28.18B | 19.97B | 17.28B | 14.35B | 12.03B | 6.63B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 521.32B | 518.97B | 490.42B | 490.1B | 441.28B | 391B | 343.7B | 323.97B | 256.28B | 192.72B | 159.83B | 139.51B | 129.48B | 112.75B | 108.86B | 91.02B | 78.13B | 61.9B | 53.6B | 55.6B | 40.71B | 22.41B | 20.01B | 16.32B | 14.48B | 13.77B | 7.66B | 7.47B | 7.11B | 7.26B |
| Asset Turnover | 0.15x | 0.15x | 0.18x | 0.20x | 0.21x | 0.19x | 0.18x | 0.21x | 0.22x | 0.21x | 0.15x | 0.14x | 0.14x | 0.18x | 0.17x | 0.17x | 0.17x | 0.20x | 0.24x | 0.17x | 0.17x | 0.23x | 0.19x | 0.21x | 0.21x | 0.06x | 0.11x | 0.13x | 0.15x | 0.16x |
| Asset Growth % | 14.9% | 5.82% | 0.07% | 11.06% | 12.86% | 13.76% | 6.09% | 26.41% | 32.98% | 20.58% | 14.56% | 7.75% | 14.84% | 3.57% | 19.6% | 16.5% | 26.22% | 15.5% | -3.6% | 36.58% | 81.67% | 12% | 22.63% | 12.67% | 5.12% | 79.95% | 2.49% | 5.02% | -2% | - |
| Total Current Liabilities | 34.35B | 62.35B | 86.12B | 91.13B | 77.75B | 65.08B | 49.5B | 40.62B | 26.31B | 23.43B | 16.37B | 19.5B | 12.83B | 14.8B | 13.4B | 10.18B | 13.24B | 10.02B | 8.9B | 9.86B | 6.5B | 3.92B | 4.39B | 1.75B | 1.27B | 1.08B | 870M | 0 | 0 | 0 |
| Accounts Payable | 33.57B | 62.35B | 30.13B | 33.41B | 33.57B | 29.14B | 25.86B | 23.21B | 14.34B | 11.15B | 7.72B | 7.56B | 6.05B | 5.99B | 7.2B | 5.34B | 4.58B | 10.02B | 8.9B | 9.86B | 6.5B | 3.92B | 2.72B | 1.75B | 1.27B | 1.08B | 870M | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 34.35B | 49.19B | 51.27B | 57.6B | 43.3B | 32.79B | 21.29B | 15.71B | 11.16B | 10.86B | 8.52B | 11.42B | 5.36B | 8.8B | 6.2B | 4.83B | 2.9B | 0 | 0 | 161M | 0 | 1.62B | 1.68B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | -33.57B | -49.19B | 4.72B | 118M | 876M | 3.15B | -5.86B | -3.8B | 812M | 1.42B | 127M | 522M | 1.42B | 0 | 0 | -3.92B | 0 | 0 | 0 | -161M | 0 | -1.62B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 1.72x | 1.14x | 0.65x | 0.51x | 0.69x | 0.86x | 0.85x | 0.86x | 1.16x | 0.91x | 1.07x | 0.68x | 1.27x | 0.83x | 1.25x | 1.57x | 2.00x | 1.60x | 1.48x | 1.27x | 1.46x | 1.78x | 1.16x | 2.79x | 2.38x | 1.64x | 1.02x | - | - | - |
| Quick Ratio | 1.72x | 1.14x | 0.65x | 0.51x | 0.69x | 0.86x | 0.85x | 0.86x | 1.16x | 0.91x | 1.07x | 0.68x | 1.27x | 0.83x | 1.25x | 1.57x | 2.00x | 1.60x | 1.48x | 1.27x | 1.46x | 1.78x | 1.16x | 2.79x | 2.38x | 1.64x | 1.02x | - | - | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 320.78B | 290.43B | 238.92B | 230.72B | 221.65B | 191.19B | 171.55B | 166.51B | 132.82B | 89.42B | 73.77B | 62.78B | 63.4B | 50.42B | 49.93B | 41.8B | 35.7B | 44.34B | 38.91B | 33.45B | 24.39B | 12.46B | 9.97B | 8.17B | 7.92B | 7.31B | 2.55B | 3.29B | 3.31B | 3.35B |
| Long-Term Debt | 234B | 263.42B | 183.52B | 176.11B | 170.78B | 143.14B | 127.11B | 127.66B | 107.06B | 67.53B | 56.37B | 46.86B | 47.41B | 38.06B | 38.63B | 31.72B | 23.45B | 32.99B | 30.27B | 9.12B | 22.81B | 11.08B | 8.42B | 8.17B | 7.92B | 7.31B | 2.55B | 2.59B | 2.41B | 2.24B |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 355.14B | 352.78B | 325.04B | 321.85B | 299.39B | 256.26B | 221.05B | 207.12B | 159.13B | 112.85B | 90.14B | 82.29B | 76.23B | 65.22B | 63.33B | 51.97B | 48.94B | 54.35B | 47.82B | 43.31B | 30.89B | 16.38B | 14.36B | 9.91B | 9.19B | 8.39B | 3.42B | 3.29B | 3.31B | 3.35B |
| Total Debt | 268.35B | 312.61B | 234.79B | 233.71B | 214.07B | 175.93B | 156.62B | 148.87B | 118.22B | 78.39B | 64.89B | 58.28B | 52.77B | 46.86B | 44.83B | 36.56B | 26.36B | 32.99B | 30.27B | 9.29B | 22.81B | 12.7B | 10.09B | 8.17B | 7.92B | 7.31B | 2.55B | 2.59B | 2.41B | 2.24B |
| Net Debt | 253.27B | 296.37B | 219.74B | 222.49B | 199.68B | 163.24B | 146.69B | 142.09B | 109.83B | 73.25B | 60.59B | 55.51B | 49.61B | 43.2B | 41.98B | 34.53B | 24.65B | 31.61B | 29.03B | 7.72B | 21.6B | 11.88B | 9.69B | 7.79B | 7.59B | 6.93B | 2.32B | 2.59B | 2.41B | 2.24B |
| Debt / Equity | 1.61x | 1.88x | 1.42x | 1.39x | 1.51x | 1.31x | 1.28x | 1.27x | 1.22x | 0.98x | 0.93x | 1.02x | 0.99x | 0.99x | 0.99x | 0.94x | 0.90x | 4.37x | 5.24x | 0.76x | 2.32x | 2.11x | 1.79x | 1.28x | 1.50x | 1.36x | 0.60x | 0.62x | 0.63x | 0.79x |
| Debt / EBITDA | 8.68x | 9.72x | 8.47x | 9.94x | 9.81x | 9.75x | 10.26x | 9.92x | 10.60x | 9.44x | 9.83x | 10.85x | 10.30x | 7.79x | 9.65x | 9.50x | 8.96x | 7.99x | 7.18x | 2.33x | 3.31x | 2.43x | 6.76x | 6.06x | 6.86x | 19.49x | 6.45x | 4.36x | 4.58x | 3.02x |
| Net Debt / EBITDA | 8.19x | 9.22x | 7.92x | 9.46x | 9.15x | 9.04x | 9.61x | 9.47x | 9.85x | 8.82x | 9.18x | 10.33x | 9.68x | 7.18x | 9.03x | 8.98x | 8.37x | 7.66x | 6.88x | 1.94x | 3.13x | 2.28x | 6.49x | 5.78x | 6.57x | 18.47x | 5.87x | 4.36x | 4.58x | 3.02x |
| Interest Coverage | 1.34x | 1.31x | 1.17x | 1.39x | 1.62x | 2.93x | 1.21x | 1.81x | 2.49x | 2.43x | 1.93x | 2.73x | 3.53x | 2.84x | 2.31x | 2.78x | 2.77x | 2.12x | 2.19x | 2.05x | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 166.19B | 166.19B | 165.38B | 168.24B | 141.89B | 134.74B | 122.64B | 116.85B | 97.15B | 79.87B | 69.69B | 57.23B | 53.25B | 47.53B | 45.44B | 39.05B | 29.19B | 7.55B | 5.78B | 12.28B | 9.82B | 6.03B | 5.65B | 6.4B | 5.29B | 5.39B | 4.23B | 4.18B | 3.8B | 2.81B |
| Equity Growth % | -2.49% | 0.49% | -1.7% | 18.57% | 5.31% | 9.87% | 4.96% | 20.27% | 21.63% | 14.61% | 21.77% | 7.47% | 12.04% | 4.59% | 16.37% | 33.77% | 286.8% | 30.55% | -52.94% | 25.12% | 62.79% | 6.8% | -11.78% | 21.09% | -1.9% | 27.33% | 1.18% | 9.93% | 35.2% | - |
| Book Value per Share | 70.21 | 70.21 | 69.58 | 70.62 | 58.82 | 56.61 | 53.07 | 52.33 | 44.18 | 36.22 | 31.71 | 24.55 | 24.90 | 20.72 | 19.22 | 17.09 | 14.24 | 3.85 | 2.89 | 6.07 | 4.72 | 2.92 | 2.71 | 3.09 | 2.55 | 2.69 | 2.19 | 2.07 | 1.87 | 1.40 |
| Total Shareholders' Equity | 46.94B | 47.8B | 45.98B | 45.78B | 43.75B | 46.35B | 35.84B | 35.01B | 29.82B | 28.24B | 26.45B | 25.31B | 23.7B | 20.88B | 22.24B | 20.53B | 14.45B | 7.55B | 5.78B | 7.51B | 6.08B | 4.33B | 3.87B | 4.88B | 3.83B | 3.68B | 3.53B | 3.08B | 2.78B | 2.81B |
| Common Stock | 10.79B | 10.82B | 10.81B | 10.88B | 10.9B | 10.54B | 7.37B | 7.3B | 4.46B | 4.43B | 4.39B | 4.38B | 3.03B | 2.9B | 18.15B | 16.74B | 0 | 1.29B | 4.91B | 1.27B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 16.21B | 16.63B | 17.07B | 18.01B | 18.01B | 17.7B | 15.18B | 16.03B | 14.24B | 11.86B | 11.49B | 11.04B | 9.7B | 7.16B | 0 | 5.99B | 4.63B | 4.45B | 4.37B | 4.87B | 4.22B | 3.32B | 1.94B | 1.69B | 1.45B | 1.54B | 1.58B | 1.34B | 1.18B | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 5.12B | 16.11B | 8.84B | 8.17B | 7.59B | 7.4B | 6.17B | 6.24B | 6.03B | 6.04B | 5.19B | 4.45B | 5.26B | 5.21B | 0 | 7.34B | 6.55B | 605M | -770M | 445M | -42M | 3.88B | 107M | 151M | -26M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 119.25B | 118.31B | 119.41B | 122.47B | 98.14B | 88.39B | 86.8B | 81.83B | 67.33B | 51.63B | 43.23B | 31.92B | 29.55B | 26.65B | 23.19B | 18.52B | 14.74B | 0 | 0 | 4.77B | 3.73B | 1.71B | 1.78B | 1.52B | 1.46B | 1.71B | 705M | 1.1B | 1.02B | 0 |
High Leverage and Complexity
According to reported financial data, Brookfield Corporation's total assets have expanded from $490.1B in 2023Q4 to $521.3B in 2026Q1, yet this growth appears to be driven by debt-funded asset accumulation rather than organic equity expansion, signaling a potentially weakening long-term balance sheet trajectory for the firm.
The persistent increase in total assets alongside stagnant equity levels suggests that the firm is relying heavily on external financing to maintain its growth profile. Investors should monitor whether this asset expansion translates into meaningful distributable earnings or if it merely increases the firm's sensitivity to interest rate volatility.
As reported in financial statements, Brookfield Corporation's debt-to-equity ratio climbed to 1.88 in 2025Q4, reflecting a reliance on leverage that warrants caution given the firm's capital-intensive business model and the potential for non-recourse debt to obscure the true extent of corporate-level financial obligations.
The fluctuation in debt levels, peaking at $312.6B in 2025Q4, implies that the firm utilizes debt as a primary tool for funding its large-scale infrastructure and real estate acquisitions. This leverage-heavy approach may limit financial flexibility during periods of market stress, particularly if asset values face downward pressure.
Based on the provided balance sheet figures, Brookfield Corporation's net PPE has surged from $147.6B in 2023Q4 to $168.8B in 2026Q1, highlighting a business model that is fundamentally tied to the ownership and maintenance of physical, long-duration assets rather than capital-light fee streams.
The significant concentration in physical assets suggests that the firm's valuation is highly sensitive to the fair market value of its underlying real estate and infrastructure portfolio. This asset-heavy structure necessitates constant capital reinvestment, which may explain the persistent pressure on free cash flow.
As indicated by quarterly filings, Brookfield Corporation's current ratio has exhibited extreme volatility, swinging from a low of 0.51 in 2023Q4 to 1.72 in 2026Q1, which suggests that the firm's short-term liquidity position is highly dependent on the timing of asset-level cash movements and financing activities.
Such wide fluctuations in liquidity metrics imply that the firm may lack a consistent cash buffer to absorb unexpected shocks without relying on external capital markets. Analysts should interpret these shifts as a reflection of the firm's complex, project-based cash flow cycles rather than stable operational liquidity.
Based on the provided data, the discrepancy between reported corporate-level debt and the firm's massive consolidated asset base suggests that headline leverage ratios may significantly understate the actual financial risk inherent in Brookfield Corporation's intricate, multi-layered corporate structure and its reliance on non-recourse subsidiary debt.
The firm's reliance on fair value accounting for investment properties introduces non-cash volatility that can mask the underlying cash-generating reality of the business. Investors should be wary that the reported equity base may be sensitive to subjective valuation adjustments, potentially overstating the firm's true net worth.
Quick answers to the most common questions about buying BN stock.
As of 2025, Brookfield Corporation (BN) had total assets of $518.97B including $71.38B in current assets.
Brookfield Corporation (BN) carries total debt of $312.61B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Brookfield Corporation (BN) has total shareholders' equity (book value) of $47.80B ($70.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Brookfield Corporation (BN) reported a current ratio of 1.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.