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Brookfield Asset Management

BAM
72
Asset Management · Financial Services
Price
$48.33
-1.24 (-2.50%)
Market Cap
$77.17B
Exchange
New York Stock Exchange
Winston Score
72
Winston is happy
A high-quality business with solid fundamentals.

Share count rising — dilution

+308.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 402.7M (2021) → 1.65B (2025)

Brookfield Asset Management is a company that manages money for large investors like pension funds, insurance companies, and sovereign wealth funds. It invests that money into real assets — things you can touch — like office buildings, highways, power plants, pipelines, and data centers. It is one of the largest alternative asset managers in the world, with roots going back over 100 years.

Brookfield earns money by charging fees on the assets it manages, typically a percentage of the total funds under management, plus a share of profits when investments perform well. It operates globally, with major activity across North America, Europe, Asia, and Latin America, and manages roughly $1 trillion in assets. Its main competitive advantage is its long track record and deep relationships with large institutional investors, which makes it hard for newer firms to compete. The key growth driver is continued fundraising into new private credit and infrastructure funds, while the main risk is that rising interest rates can reduce investor appetite for the alternative assets Brookfield specializes in.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+22.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+5.6% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

79.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$13.0B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Brookfield Asset Management is a rare growth stock that's already generating positive cash flow while growing at 22%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
82.3%
Premium pricing power — 82.3% gross margin
Operating Margin
48.7%
Excellent — 48.7% operating margin
ROCE
4.9%
Weak — 4.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+14.6%
Fast-growing sales (14.6% YoY)
EPS YoY
+9.1%
Earnings growing (9.1% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
93%
Modest — 93% of profit becomes cash
FCF Margin
48.4%
Converts sales into free cash efficiently (48.4%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.71
Moderate — manageable debt (0.71)
Interest Cover
18.84x
Comfortably covers interest (18.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
31.0x
Pricey — P/E 31.0

P/E above the market average. People are paying up for expected growth.

P/E vs Forward
+9.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (31.0 → 21.8)

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Dividends

Dividend Yield
4.10%
Healthy income — 4.10% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth
+15.0%
Dividend growing fast (15.0% YoY)

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