Brookfield Wealth Solutions Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Brookfield Wealth Solutions Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	382	514	7,241	5,101	6,912	14,103	11,635
Interest expense			1	104	249	362	379
Pre-tax income	6	2	-113	532	814	1,213	967
Income tax	0	1	-1	31	17	-34	104
Net income to minority interests		0	0	2	1	33	97
Net income	6	1	-112	433	681	1,142	863
EPS, basic	129.14	36.08	-4.92	13.75	10.51	8.69	3.35
EPS, diluted	129.14	36.08	-4.92	13.75	10.51	8.69	3.35
Shares, basic (weighted)			19.9	30.9	64.2	126	224
Shares, diluted (weighted)			19.9	30.9	64.2	126	224

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	13	35	393	2,145	4,308	12,243	13,014
Short-term investments				2,402	3,115	4,400	475
Property, plant and equipment		2	2	194	294	272	290
Goodwill			0	121	121	783	783
Intangible assets		0	3	52	235	1,690	1,625
Total assets		1,440	11,577	43,458	61,643	139,953	157,181
Accounts payable			57	61
Total liabilities		1,357	10,232	39,193	52,794	126,877	139,264
Total debt		0	693	2,160
Retained earnings				310	945	2,054	2,820
Other comprehensive income				-523	-120	204	1,121
Minority interests			0	8	146	850	331
Total equity	66	129	1,345	1,685	6,155	13,076	17,917
Total liabilities and equity		1,440	11,493	43,458	61,643	139,953	157,181

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	6	1	-112	501	797	1,247	863
Depreciation and amortization				13	50	206	218
Deferred income tax			-1	10	14	-150	24
Cash from operations	309	399	1,688	644	1,507	4,569	2,614
Capital expenditures			-1	-24	-135	-40	-69
Acquisitions			0	-4,086	-346	10,843	0
Purchases of investments			-4,416	-10,280	-4,764	-15,323	-19,069
Sales and maturities of investments			2,001	11,882	5,871	11,836	10,750
Cash from investing	-268	-385	-3,971	-4,878	-1,809	1,433	-9,672
Debt issued	0	0	693	5,206
Debt repaid		0	0	-2,239
Stock issued	5	13	1,410	450	0	0
Share buybacks	0	0	-8	-6
Dividends paid				-64
Cash from financing	-35	13	2,640	5,994	2,465	1,922	7,810
Exchange rate effect	-1	-5	1	-8	0	11	19
Net change in cash			357	1,760	2,163	7,924
Free cash flow			1,687	620	1,372	4,529	2,545
Interest paid			8	85	123	318	246
Income taxes paid		0	0	52			35

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $36.82 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	8.3%	Pre-tax income / revenue.
Net margin	7.4%	Net income / revenue.
FCF margin	21.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	22.5%	Cash from operations / revenue.
Effective tax rate	10.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	0.6%	Net income / average total assets.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	1.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-17.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	31.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	86.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-24.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	25.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	286.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-61.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-37.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-37.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-42.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	59.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	45.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-43.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	60.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	12.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	53.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	155.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	77.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	93.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	88.6%	Total liabilities / total assets.
Goodwill and intangibles / assets	1.5%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.08x	Revenue / average total assets.
Fixed asset turnover	41.4x	Revenue / average property, plant and equipment.
FCF conversion	294.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	2.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.35	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$3.35	Net income per basic share, as reported (split-adjusted).
Revenue per share	$51.93	Revenue / diluted weighted shares.
FCF per share	$11.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$11.67	Cash from operations / diluted weighted shares.
Cash per share	$60.21	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$12.45B	Share price x shares outstanding.
Enterprise value	-$1.04B	Market cap + total debt - cash - short-term investments.
P/E	14.4x	Market cap / net income. Only when net income is positive.
P/S	1.07x	Market cap / revenue.
P/FCF	4.89x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.76x	Market cap / cash from operations, when positive.
FCF yield	20.4%	Free cash flow / market cap.
Earnings yield	6.9%	Net income / market cap (the inverse of P/E).

What was Brookfield Wealth Solutions Ltd.'s revenue in fiscal 2025?

Brookfield Wealth Solutions Ltd. reported revenue of $11.64B for fiscal 2025, 17.5% lower than the year before.

Was Brookfield Wealth Solutions Ltd. profitable in fiscal 2025?

Yes. Net income was $863.0M, a net margin of 7.4%.

How much free cash flow did Brookfield Wealth Solutions Ltd. generate in fiscal 2025?

Cash from operations of $2.61B minus capital expenditures of $69.0M left free cash flow of $2.55B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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