Filing Flows › Brookfield Asset Management (BAM) › Q1 2025
Brookfield Asset Management (BAM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Brookfield Asset Management (BAM) reported revenue of $1.1B for the first quarter 2025 (Q1 2025), +22% from a year earlier and +2% from the quarter before. Operating margin was 53.6%, net earnings $507M (46.9% of revenue).
Brookfield Asset Management, Q1 2025: revenue $1.1B (+22% year over year), operating margin 53.6%, net earnings $507M, operating cash flow $265M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +2% | +22% |
| Operating profit | $579M | -10% | +33% |
| Net earnings | $507M | -25% | +36% |
| Operating cash flow | $265M | — | -49% |
| Free cash flow | $263M | — | -49% |
What changed
Revenue was $1.1B in Q1 2025, up 22% year over year and up 2% from the previous quarter. Infrastructure was the largest line at 29% of revenue. Real estate added $0.09B year over year (up 42%), 44% of the total change. Private equity declined 4%.
Operating profit was $0.58B, a 53.6% margin (up 4.2 points year over year). Of the extra revenue versus a year earlier, 73% reached operating profit, above the 49% margin then. Total costs grew 12% against revenue growth of 22%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $0.51B, up 36% year over year. The effective tax rate was 12.9%.
Operating cash flow was $0.27B (down 49% year over year), 52% of net earnings. Non-cash charges added back $3.0M of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.28B. Capital expenditures of $2.0M left free cash flow of $0.26B.
Questions
What was Brookfield Asset Management's revenue in the first quarter 2025?
Brookfield Asset Management (BAM) reported revenue of $1.1B for the first quarter 2025 (Q1 2025), +22% from a year earlier and +2% from the quarter before.
Was Brookfield Asset Management profitable in the first quarter 2025?
Operating profit was $579M (53.6% of revenue) and net earnings $507M.