Latest Ratios: P/E Ratio 74.2x · EV/EBITDA 11.8x · ROE 0.8%. (1997–2025 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 | $82.8B | $108.6B | $91.0B | $63.7B | $50.6B | $78.1B | $51.8B | $46.7B | $30.5B | $34.8B | $26.3B |
| Enterprise Value | $379.2B | $405.0B | $310.8B | $286.2B | $250.3B | $241.3B | $198.5B | $188.8B | $140.4B | $108.0B | $86.9B |
| P/E Ratio → | 74.18 | 91.78 | 185.29 | 65.77 | 26.43 | 20.58 | — | 18.15 | 9.18 | 26.58 | 17.40 |
| P/S Ratio | 1.40 | 1.84 | 1.31 | 0.79 | 0.62 | 1.15 | 0.93 | 0.77 | 0.59 | 0.94 | 1.24 |
| P/B Ratio | 0.53 | 0.65 | 0.55 | 0.38 | 0.36 | 0.58 | 0.42 | 0.40 | 0.31 | 0.44 | 0.38 |
| P/FCF | — | — | — | — | 34.77 | 79.30 | 11.36 | 13.94 | 10.07 | 14.50 | 16.50 |
| P/OCF | — | — | 12.63 | 9.68 | 6.02 | 10.00 | 5.90 | 7.22 | 6.24 | 8.38 | 8.62 |
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 | — | 6.86 | 4.48 | 3.56 | 3.05 | 3.54 | 3.57 | 3.12 | 2.70 | 2.91 | 4.10 |
| EV / EBITDA | 11.80 | 12.60 | 11.21 | 12.17 | 11.47 | 13.37 | 13.00 | 12.59 | 12.59 | 13.01 | 13.16 |
| EV / EBIT | 17.41 | 18.08 | 15.98 | 13.24 | 14.41 | 10.81 | 22.67 | 14.44 | 11.61 | 12.31 | 13.95 |
| EV / FCF | — | — | — | — | 172.01 | 245.15 | 43.55 | 56.35 | 46.27 | 45.04 | 54.57 |
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 | 50.0% | 50.0% | 26.0% | 18.0% | 17.4% | 17.2% | 27.7% | 24.9% | 21.7% | 22.6% | 31.6% |
| Operating Margin | 36.9% | 36.9% | 25.9% | 18.0% | 17.2% | 17.0% | 17.1% | 16.7% | 15.5% | 16.0% | 21.6% |
| Net Profit Margin | 2.2% | 2.2% | 0.9% | 1.4% | 2.5% | 5.8% | -0.2% | 4.6% | 6.9% | 3.9% | 7.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.8% | 0.8% | 0.4% | 0.7% | 1.5% | 3.1% | -0.1% | 2.6% | 4.0% | 2.0% | 2.6% |
| ROA | 0.3% | 0.3% | 0.1% | 0.2% | 0.5% | 1.1% | -0.0% | 1.0% | 1.6% | 0.8% | 1.1% |
| ROIC | 3.7% | 3.7% | 3.4% | 2.9% | 3.2% | 3.0% | 2.6% | 3.2% | 3.2% | 3.1% | 2.7% |
| ROCE | 5.1% | 5.1% | 4.5% | 3.8% | 4.1% | 3.7% | 3.3% | 3.9% | 4.0% | 3.8% | 3.5% |
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 | 1.88 | 1.88 | 1.42 | 1.39 | 1.51 | 1.31 | 1.28 | 1.27 | 1.22 | 0.98 | 0.93 |
| Debt / EBITDA | 9.72 | 9.72 | 8.47 | 9.94 | 9.81 | 9.75 | 10.26 | 9.92 | 10.60 | 9.44 | 9.83 |
| Net Debt / Equity | — | 1.78 | 1.33 | 1.32 | 1.41 | 1.21 | 1.20 | 1.22 | 1.13 | 0.92 | 0.87 |
| Net Debt / EBITDA | 9.22 | 9.22 | 7.92 | 9.46 | 9.15 | 9.04 | 9.61 | 9.47 | 9.85 | 8.82 | 9.18 |
| Debt / FCF | — | — | — | — | 137.24 | 165.85 | 32.19 | 42.40 | 36.20 | 30.54 | 38.07 |
| Interest Coverage | 1.31 | 1.31 | 1.17 | 1.39 | 1.62 | 2.93 | 1.21 | 1.81 | 2.49 | 2.43 | 1.93 |
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 | 1.14 | 1.14 | 0.65 | 0.51 | 0.69 | 0.86 | 0.85 | 0.86 | 1.16 | 0.91 | 1.07 |
| Quick Ratio | 1.14 | 1.14 | 0.65 | 0.51 | 0.69 | 0.86 | 0.85 | 0.86 | 1.16 | 0.91 | 1.07 |
| Cash Ratio | 0.26 | 0.26 | 0.17 | 0.12 | 0.19 | 0.20 | 0.20 | 0.17 | 0.32 | 0.22 | 0.26 |
| Asset Turnover | — | 0.11 | 0.14 | 0.16 | 0.19 | 0.17 | 0.16 | 0.19 | 0.20 | 0.19 | 0.13 |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 0.5% | 0.7% | 1.7% | 1.7% | 1.8% | 1.7% | 2.4% | 2.0% | 2.4% |
| Payout Ratio | — | — | 77.2% | 38.6% | 42.8% | 33.7% | — | 27.5% | 20.3% | 46.9% | 38.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 1.1% | 0.5% | 1.5% | 3.8% | 4.9% | — | 5.5% | 10.9% | 3.8% | 5.7% |
| FCF Yield | — | — | — | — | 2.9% | 1.3% | 8.8% | 7.2% | 9.9% | 6.9% | 6.1% |
| Buyback Yield | 0.0% | 0.0% | 1.0% | 1.0% | 1.3% | 0.5% | 0.9% | 0.6% | 1.3% | 0.4% | 0.6% |
| Total Shareholder Yield | 0.0% | 0.0% | 1.6% | 1.7% | 3.0% | 2.2% | 2.6% | 2.3% | 3.6% | 2.4% | 3.0% |
| Shares Outstanding | — | $2.4B | $2.4B | $2.4B | $2.4B | $2.4B | $2.3B | $2.2B | $2.2B | $2.2B | $2.2B |
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying BN stock.
Brookfield Corporation's current P/E ratio is 74.2x. The historical average is 24.9x. This places it at the 93th percentile of its historical range.
Brookfield Corporation's current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.2x.
Brookfield Corporation's return on equity (ROE) is 0.8%. The historical average is 6.1%.
Based on historical data, Brookfield Corporation is trading at a P/E of 74.2x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Brookfield Corporation has 50.0% gross margin and 36.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Brookfield Corporation's Debt/EBITDA ratio is 9.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Persistent negative net interest margin
Deep Discount Reflects Structural Complexity
Brookfield trades at a P/B of 0.57, a significant discount to peers like Blackstone (4.86) and KKR (1.26), suggesting the market is applying a substantial conglomerate discount to its balance sheet-heavy model.
The P/B multiple implies the market values BN's equity at roughly half its stated book value, a stark contrast to the premium multiples awarded to capital-light asset managers. This discount likely reflects investor skepticism about the transparency and liquidity of BN's private asset valuations, as well as the complexity of its corporate structure. The forward P/E of 14.52, while low, is less meaningful given the IFRS accounting volatility that distorts headline earnings.
ROE Constrained by Structural NII Drag
Return on equity has been near zero for ten consecutive quarters, with the latest reading at 0.2%, indicating that the firm's massive asset base is generating negligible returns for shareholders.
The persistently low ROE is a direct consequence of the negative net interest margin, which has been -0.8% for ten straight quarters. This structural funding cost headwind overwhelms any operational profitability, as evidenced by the wide gap between the operating margin (36.9%) and the net margin (2.2%). The firm's leverage, while high, is not translating into positive returns due to the cost of that leverage exceeding the yield on assets.
Negative NIM Signals Structural Funding Pressure
The net interest margin has been consistently negative at -0.8% for ten consecutive quarters, indicating that the cost of funding the balance sheet exceeds the yield generated from assets.
This persistent negative NIM is a critical structural issue, suggesting that BN's funding costs are not being adequately offset by asset yields. It implies that the firm's interest expense, likely driven by the cost of its massive non-recourse debt, is a primary drag on profitability. The efficiency ratio is volatile and not a reliable indicator of operating leverage given the firm's hybrid business model.
Thin Equity Buffer Amidst Massive Leverage
The equity-to-assets ratio has remained stable at 0.32, but this thin buffer supports a $525.5B asset base, implying a highly leveraged structure that is characteristic of BN's principal-investing model.
While the 32% equity ratio appears adequate on a regulatory basis for a traditional bank, it is exceptionally thin for a firm holding volatile private assets. This leverage magnifies both returns and risks, but the current near-zero ROE indicates it is not generating positive returns. The true leverage is likely higher when accounting for off-balance-sheet non-recourse debt at subsidiary levels, which is not reflected in this consolidated ratio.
Elevated Provisions Signal Credit Stress
Loan loss provisions surged to $12.9B in 2026Q2, a 67% year-over-year increase, representing a massive cash flow use that suggests significant credit stress within the lending portfolio.
The sharp increase in provisions is a major red flag, indicating management is anticipating or experiencing higher credit losses. This directly impacts reported earnings and consumes cash that could otherwise be used for capital return or new investments. The adequacy of current reserves is questionable given the scale of the increase and the uncertain economic environment for the firm's real estate and private equity holdings.
P/E Misleads Amidst IFRS Volatility
The P/E ratio is the most commonly misapplied metric for BN, as IFRS accounting requires marking investment properties to fair value through the income statement, creating significant non-cash volatility that distorts headline earnings.
The reported P/E of 80.62 is likely inflated by non-cash fair value losses, making it an unreliable valuation tool. Analysts should instead focus on Distributable Earnings (DE) or Funds From Operations (FFO) to assess cash-generating ability. Furthermore, the Debt/Equity ratio of 1.88% is misleading as it only captures corporate-level debt, ignoring the massive non-recourse debt held at subsidiary levels, which obscures the true enterprise risk.