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BBU

Brookfield Business Partners L.P.

BBU

Brookfield Business Partners L.P. • NYSE
$34.81 ▲ 3.86% (+1.29)
Market Cap $3.09 B
52w High $36.90
52w Low $18.63
Dividend Yield 0.25%
P/E -19.02
Volume 31.16K
Outstanding Shares 88.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.919B ▲ $278M ▲ $-25M ▼ -0.361% ▼ $-0.31 ▼ $1.453B ▼
Q2-2025 $6.695B ▼ $271M ▼ $11M ▼ 0.164% ▼ $0.14 ▼ $1.726B ▲
Q1-2025 $6.749B ▼ $311M ▼ $43M ▲ 0.637% ▲ $0.38 ▲ $1.036B ▼
Q4-2024 $7.427B ▼ $324M ▲ $-137M ▼ -1.845% ▼ $-2.02 ▼ $1.874B ▼
Q3-2024 $9.232B $319M $116M 1.256% $1.39 $2.652B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.5B ▼ $75.403B ▲ $59.863B ▼ $2.354B ▲
Q2-2025 $4.167B ▼ $75.335B ▼ $60.014B ▼ $2.291B ▲
Q1-2025 $4.232B ▲ $75.887B ▲ $61.032B ▲ $2.158B ▲
Q4-2024 $4.03B ▲ $75.474B ▼ $58.166B ▼ $1.752B ▼
Q3-2024 $3.71B $80.256B $60.895B $1.98B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-122M ▼ $1.3B ▲ $-401M ▼ $-744M ▲ $171M ▲ $763M ▲
Q2-2025 $11.181M ▼ $474.457M ▼ $233.901M ▲ $-943.66M ▼ $-101.596M ▼ $-330.877K ▼
Q1-2025 $29.909M ▲ $812.537M ▼ $-1.45B ▼ $754.713M ▲ $111.195M ▼ $320.03M ▼
Q4-2024 $-145.767M ▼ $918.216M ▼ $-474.624M ▲ $82.753M ▲ $164.1M ▲ $339.539M ▼
Q3-2024 $103.829M $1.949B $-873.405M $-1.044B $96.336M $1.261B

Five-Year Company Overview

Income Statement

Income Statement Brookfield Business Partners shows that it can grow and reshape earnings, but results are quite volatile. Revenue climbed strongly coming out of 2020, peaked, and has since pulled back, suggesting portfolio changes and some cyclical pressure. Profitability has improved at the operating level, with margins expanding after a weak stretch, which signals better cost control and asset mix. However, bottom‑line earnings swing sharply from year to year and even turned weak again most recently, likely reflecting deal activity, financing costs, and one‑off items. Overall, the income statement tells a story of a complex, deal‑driven business that can produce solid operating profits but with very bumpy net results.

Balance Sheet

Balance Sheet The balance sheet is asset‑heavy and heavily financed with debt. Total assets have increased meaningfully over time, consistent with an acquisitive conglomerate model. Debt has risen alongside those assets and is now substantial, which raises sensitivity to interest rates, refinancing conditions, and any downturn in portfolio companies. Reported equity has dropped sharply in recent years, likely driven by accounting changes, restructurings, or distributions rather than ongoing operating losses alone, but it still points to a thin capital cushion relative to the size of the balance sheet. Cash on hand is modest compared with debt, reinforcing the picture of a highly leveraged structure that depends on continued access to capital markets and asset sales when needed.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been positive and generally improving, which is a key strength. However, heavy investment spending has at times pushed free cash flow into negative territory, showing that the partnership frequently plows cash back into the business and new deals. Most recently, free cash flow has turned modestly positive again, indicating some easing of that investment burden or better discipline on capital spending. Overall, the cash flow profile fits a private‑equity‑style owner: underlying businesses throw off cash, but capital is constantly being recycled, so reliance on financing and transaction proceeds remains important.

Competitive Edge

Competitive Edge Brookfield Business Partners’ edge comes from owning leading, hard‑to‑replicate businesses in niche but critical markets. Its holdings span auto batteries, nuclear technology, graphite electrodes, auto dealer software, and lottery systems—areas where scale, regulation, technical know‑how, and high switching costs create meaningful barriers to entry. Relationships with carmakers, utilities, governments, and large enterprises provide sticky, long‑duration revenue streams. At the same time, the structure is complex, and performance is tied to several cyclical and regulated industries. The competitive position is strong at the asset level, but investors must understand that results are influenced by how well Brookfield buys, improves, and eventually exits these businesses over time.

Innovation and R&D

Innovation and R&D Innovation at Brookfield Business Partners is less about traditional lab research and more about backing businesses with strong technical roadmaps and then funding their next stage of development. Within the portfolio, there are clear innovation themes: advanced automotive batteries and connected energy‑storage services at Clarios, new generations of nuclear reactors and microreactors at Westinghouse, vertically integrated graphite materials that support both steel and electric vehicles at GrafTech, AI‑enabled software for car dealerships via CDK Global, and digital lottery and iGaming platforms at Scientific Games. On top of this, Brookfield is participating in large‑scale AI infrastructure build‑outs in partnership with major technology and energy players. Together, these efforts show a focus on staying ahead of long‑term trends in energy transition, digitization, and AI, even though spending is channeled through portfolio companies rather than a centralized R&D budget.

Summary

Brookfield Business Partners is an operationally focused conglomerate that buys complex, often mission‑critical businesses and tries to enhance their value over time. The recent financials show improving operating profitability but highly variable net earnings, reflecting deal activity, financing costs, and the inherent lumpiness of its model. The balance sheet is large and highly leveraged, which amplifies both upside and downside and places a premium on stable cash flows, good capital allocation, and continued access to funding. Cash generation from operations is a relative strength, but significant reinvestment needs and acquisitions can consume much of that cash. Competitively, the portfolio holds strong positions in specialized industrial and services markets with real moats, while innovation is pursued through advanced technologies in energy, software, and digital platforms, as well as major AI‑related infrastructure initiatives. Overall, BBU offers exposure to a collection of differentiated, often innovative businesses, with the trade‑off of complexity, leverage, and earnings volatility typical of a private‑equity‑style platform.

NEWS

November 11, 2025 · 7:00 AM UTC

Clarios accelerates plans to build significant new U.S. Battery Recycling and Critical Mineral Processing capacity

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November 6, 2025 · 6:45 AM UTC

Brookfield Business Partners Reports Third Quarter 2025 Results

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October 3, 2025 · 6:45 AM UTC

Brookfield Business Partners to Host Third Quarter 2025 Results Conference Call

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September 25, 2025 · 6:45 AM UTC

Brookfield Business Partners Announces Simplification via Conversion to Canadian Corporation

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