Filing Flows › Brookfield Asset Management (BAM) › Q2 2025
Brookfield Asset Management (BAM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Brookfield Asset Management (BAM) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +19% from a year earlier and +0.8% from the quarter before. Operating margin was 48.9%, net earnings $584M (53.6% of revenue).
Brookfield Asset Management, Q2 2025: revenue $1.1B (+19% year over year), operating margin 48.9%, net earnings $584M, operating cash flow $529M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +0.8% | +19% |
| Operating profit | $533M | -8% | -9% |
| Net earnings | $584M | +15% | +13% |
| Operating cash flow | $529M | +100% | +35% |
| Free cash flow | $528M | +101% | +96% |
What changed
Revenue was $1.1B in Q2 2025, up 19% year over year and up 1% from the previous quarter. Infrastructure was the largest line at 29% of revenue. Renewable power and transition added $0.04B year over year (up 27%), 25% of the total change. Private equity declined 11%.
Operating profit was $0.53B, a 48.9% margin (down 14.7 points year over year). Operating profit fell $0.05B even though revenue rose $0.17B versus a year earlier, so costs grew faster than sales. Total costs grew 67% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+68%). Net earnings were $0.58B, up 13% year over year. The effective tax rate was 11.4%.
Operating cash flow was $0.53B (up 35% year over year), 91% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $1.0M left free cash flow of $0.53B.
Questions
What was Brookfield Asset Management's revenue in the second quarter 2025?
Brookfield Asset Management (BAM) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +19% from a year earlier and +0.8% from the quarter before.
Was Brookfield Asset Management profitable in the second quarter 2025?
Operating profit was $533M (48.9% of revenue) and net earnings $584M.