Filing Flows › Brookfield Asset Management (BAM) › Q3 2025
Brookfield Asset Management (BAM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Brookfield Asset Management (BAM) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), +12% from a year earlier and +15% from the quarter before. Operating margin was 60.5%, net earnings $692M (55.3% of revenue).
Brookfield Asset Management, Q3 2025: revenue $1.3B (+12% year over year), operating margin 60.5%, net earnings $692M, operating cash flow $745M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +15% | +12% |
| Operating profit | $757M | +42% | +18% |
| Net earnings | $692M | +18% | +29% |
| Operating cash flow | $745M | +41% | +31% |
| Free cash flow | $741M | +40% | +31% |
What changed
Revenue was $1.3B in Q3 2025, up 12% year over year and up 15% from the previous quarter. Infrastructure was the largest line at 27% of revenue. Renewable power and transition added $0.07B year over year (up 40%), 50% of the total change. Private equity declined 8%.
Operating profit was $0.76B, a 60.5% margin (up 3.1 points year over year). Of the extra revenue versus a year earlier, 86% reached operating profit, above the 57% margin then. Total costs grew 4% against revenue growth of 12%. The fastest-growing cost line was General & admin (+15%). Net earnings were $0.69B, up 29% year over year. The effective tax rate was 10.1%.
Operating cash flow was $0.74B (up 31% year over year), 108% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.03B of share-based compensation. Capital expenditures of $4.0M left free cash flow of $0.74B.
Questions
What was Brookfield Asset Management's revenue in the third quarter 2025?
Brookfield Asset Management (BAM) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), +12% from a year earlier and +15% from the quarter before.
Was Brookfield Asset Management profitable in the third quarter 2025?
Operating profit was $757M (60.5% of revenue) and net earnings $692M.