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Brookfield Asset Management Ltd.BAM

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Financial Services
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NYSE

Stock Price $BAM

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You are here#28 of 58 in Financials by market cap

Filing record · 2022–202610-K410-Q58-K133

BAM filed 4 annual reports (10-K), 5 quarterly reports (10-Q) and 133 current reports (8-K) between 2022 and 2026.

  1. FY2023 annual report10-K · Mar ’24Mar ’24
  2. Material agreement8-K · Apr ’26Apr ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2023
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  3. $4.82B
YoY changeLargest recent move−2.0%in FY24Latest +21.0%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All BAM Financial Metrics41 metrics

Income Statement11

Balance Sheet15

Cash Flow10

Per Share5

02—Overview

Brookfield Asset Management Ltd. Financial Overview 2022–2025

Updated Jul 10, 2026

Brookfield Asset Management locked 87%a of its fee-bearing capital into long-dated or perpetual structures in FY2025, virtually eliminating flight risk and securing highly predictable cash flows. This capital stickiness transforms the alternative asset manager into a resilient fee engine capable of consistently compounding shareholder returns regardless of broader macroeconomic cycles.

This operational scale reflects a massive historical expansion, as fee-bearing capital grew from $418 billion in FY2022 to $603 billionb by FY2025. Total revenues followed this upward trajectory, surging 21% year-over-year to reach $4.8 billion in FY2025, which ultimately generated $2.48 billion in net income. The firm accelerated its asset base by raising $110 billion in fresh capital across multiple strategies and deploying $65.6 billion into new investments over that same twelve-month period. Top-line momentum continued straight into Q1 2026, where revenues jumped another 24% year-over-year to $1.34 billion and total fee-bearing capital hit $613.8 billion.

At the close of FY2025, the stock traded at $52.39c per share. This market pricing followed years of steady bottom-line progression, where reported earnings climbed from $0.05 per share at the end of FY2022 to $1.13 per share by the close of FY2023. Management has funneled these expanding cash streams directly back to investors, hiking the quarterly dividend by 15% to $0.5025 per share in FY2025 while streamlining its corporate structure to consolidate full ownership of the underlying asset management business.

Recent Developments (Q4 2025 and Q1 2026)

Connor Teskey assumed the CEO role on February 3, 2026, succeeding Bruce Flatt as the firm prepares to acquire the remaining 26% of Oaktree in H1 2026. Operational profitability improved in Q1 2026, with net income rising 6% year-over-year to $617 milliond. This growth was heavily supported by unrealized carried interest allocations jumping to $96 million, up from just $2 million a year prior. The firm also fortified its balance sheet by closing a $1 billion debt offering in April 2026 while maintaining $2.5 billion in corporate liquidity.

Bulls point to surging performance-based income and Oaktree consolidation as strong drivers for margin expansion. Conversely, bears highlight that expenses jumped 46% to $733 millione in Q1 2026, threatening bottom-line growth if compensation costs remain elevated. At 44.0x earnings as of May 8, 2026, the stock commands a steep premium.

What to watch: the successful closing of the Oaktree transaction; the trajectory of compensation and benefit expenses

03—Filings

Recent SEC Filings

  1. 8-KBrookfield Asset Management Ltd. 8-K Report, Corporate Update (Oct 13, 2026)Brookfield Asset Management Ltd. (BAM) filed an 8-K report on October 13, 2026, primarily to disclose the issuance of a press release. While the filing itself does not contain extensive financial details or operational updates, the attached press release (Exhibit 99.1) is the key piece of information for investors. Investors should review this press release for any significant announcements regarding the company's business, strategic initiatives, financial performance, or significant events that were deemed material enough to warrant immediate public disclosure. The report indicates that BAM is not an "emerging growth company" and therefore is not utilizing any extended transition periods for accounting standards. The core value of this 8-K lies in the content of the referenced press release, which would typically contain news that could impact BAM's stock price or investor outlook. Without the specific content of Exhibit 99.1, a deeper analysis is not possible, but the filing serves as notification that important information has been disseminated.
  2. 8-KBrookfield Asset Management Ltd. 8-K Report, Corporate Update (Oct 1, 2026)On September 30, 2026, Brookfield Asset Management (BAM) issued a press release, furnished under Item 8.01 of this 8-K, announcing a new U.S.–Korea strategic framework agreement to deploy Westinghouse nuclear technology in the United States. The framework commits up to $120 billion of Korean investment to help finance construction of eight large reactors: six Westinghouse AP1000 units across three two-unit plants, and two Korean APR1400 units that incorporate Westinghouse technology. All reactors would be sited on U.S. federal sites designated by the government. For BAM, the announcement is positioned as the next step in the October 2025 partnership among the Department of Commerce, Westinghouse, and its shareholders Brookfield and Cameco, which aims to fund at least $80 billion of Westinghouse reactors on federal sites. The framework also provides for a cornerstone equity investment by Korea of 5% to 10% in Westinghouse, and gives Westinghouse an upfront payment, guaranteed scope of work on the reactors, and a fuel-fabrication services contract. The release separately references a $17.5 billion conditional DOE loan arrangement announced in June 2026 for long-lead items, which is distinct from this framework. Investors should weigh the strong strategic signal against the fact that all terms are explicitly non-binding and subject to final negotiations. The filing contains no quantified financial impact on BAM's earnings, balance sheet, or capital commitments, and the 8-K itself is a brief furnishing of a press release rather than a material definitive agreement. The near-term financial significance for BAM therefore depends on how the framework converts into binding contracts, the size and timing of Brookfield's own share of the funding, and the eventual value of its Westinghouse equity stake.
  3. 8-KBrookfield Asset Management Ltd. 8-K Report, Corporate Update (Oct 1, 2026)Brookfield Asset Management (BAM) furnished a press release under Item 8.01 announcing the final close of Oaktree's Asset-Backed Finance Fund ("ABF I") with $2 billion of commitments across the fund and related investment vehicles. The release says the close met the fund's target, and it names U.S. public pension plans and sovereign wealth funds among the institutional investors. Oaktree's ABF strategy provides flexible capital to originators in equipment leasing, transportation, consumer, real estate, and infrastructure. Oaktree has invested more than $19 billion across its broader ABF platform and works with hundreds of third-party originators. For investors, this is a fundraising milestone rather than a financial disclosure. The filing contains no financial statements, earnings, fee or carried-interest terms, fund-level return data, or disclosed fund target size, and BAM does not quantify any expected impact on its results. The release positions ABF I as complementary to Brookfield's broader asset-based finance platform, which it says exceeds $60 billion and spans specialty finance, residential non-qualified mortgages, aviation lending, music royalties, fund finance, and digital infrastructure leases. The release also highlights the integration of Oaktree into Brookfield's operations and the partnership between the two firms, which dates to 2019. Management frames the integration as improving sourcing and underwriting. Its forward-looking statements carry the standard risk caveats, and actual outcomes could differ materially.
  4. 8-KBrookfield Asset Management Ltd. 8-K Report, Regulation FD Disclosure (Sep 28, 2026)On September 28, 2026, Brookfield Asset Management (BAM) filed an 8-K under Regulation FD announcing a change in how it presents Fee Revenues, Fee-Related Earnings (FRE) expense detail, and Fee-Bearing Capital (FBC), effective with its Q3 2026 results expected November 6, 2026. The change affects how BAM reports its partner managers: rather than netting its share of partner manager fee-related earnings, BAM will present its proportionate share of the partner managers' fee revenues and expenses on a gross basis. BAM will also include FBC tied to assets where partner managers earn servicing fees, so FBC better aligns with fee revenues. The company states this is a presentation change only and does not alter previously reported FRE or Distributable Earnings (DE). Exhibit 99.1 recasts results for Q3 2024 through Q2 2026 under the new presentation for comparability. The recast shows the impact is mainly on the top line and expense lines, not on profit. For the last twelve months ended Q2 2026, Fee Revenues rise to $6,144M from $5,822M under the old presentation (about $322M higher), and Direct Costs rise to $2,855M from $2,533M by the same amount, leaving FRE at $3,201M and DE at $2,837M unchanged. The reported FRE margin at BAM's share falls to 55% from 58% for the LTM period, and to 54% from 57% in Q2 2026, purely because of the larger revenue base. Credit fee-bearing capital is restated to $349B at Q2 2026 from $326B, with Private Credit within Long-Term Private Funds rising to $70B from $48B and Permanent Capital and Perpetual Strategies rising to $156B from $155B-equivalent level as recast. For investors, the key takeaway is that headline growth rates for fee revenues and FBC will look larger going forward, and FRE margins will look lower, even though per-share FRE and DE are identical under both presentations. Investors modeling BAM should update revenue and margin assumptions using the recast data and the Excel supplement on BAM's website, and should compare margin trends only on a consistent basis.
  5. 8-KBrookfield Asset Management Ltd. 8-K Report, Corporate Update (Sep 16, 2026)Brookfield Asset Management (BAM) filed an 8-K attaching a September 15, 2026 press release announcing that Brookfield, through its flagship private equity strategy, has agreed to acquire 100% of Reliance Worldwide Corporation (ASX: RWC), a global manufacturer of plumbing and heating solutions. The Reliance Board has unanimously recommended an all-cash offer of US$3.38 per share, implying an enterprise value of approximately US$2.8 billion. The deal is subject to shareholder, regulatory, and government approvals and is expected to close in Q1 2027. The filing does not state that BAM itself is the direct acquirer or quantify BAM's capital commitment. The press release says the investment will be funded through the Brookfield Capital Partners strategy and its affiliate Brookfield Business Corporation (NYSE/TSX: BBUC). Investors should therefore treat the disclosure as a notable industrial deal within Brookfield's private equity platform, with BAM's direct economic exposure, fee impact, and any consolidation effects still unclear from this document alone. The investment thesis centers on Reliance's leading position in push-to-connect (PTC) plumbing fittings, its opportunity to expand non-PTC products with existing retail and wholesale customers, and demand tailwinds from recurring replacement needs in aging housing stock. Key risks include the approval process, completion timing, and the usual uncertainties in forward-looking statements, which the release explicitly flags.
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04—See also

Related Companies

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