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BPYPP

Brookfield Property Partners L.P.

BPYPP

Brookfield Property Partners L.P. • NASDAQ
$15.33 ▲ 2.13% (+0.32)
Market Cap $5.39 B
52w High $16.99
52w Low $13.01
Dividend Yield 1.63%
P/E 6.98
Volume 21.37K
Outstanding Shares 351.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $1.802B ▲ $308M ▲ $-113M ▼ -6.271% ▼ $-0.3 ▼ $907M ▲
Q1-2025 $1.749B ▼ $286M ▼ $-79M ▼ -4.517% ▼ $-0.21 ▲ $863M ▼
Q4-2024 $1.902B ▼ $324M ▼ $-49M ▲ -2.576% ▲ $-0.26 ▲ $1.192B ▲
Q3-2024 $2.466B ▲ $343M ▲ $-150M ▲ -6.083% ▲ $-0.44 ▲ $927M ▲
Q2-2024 $2.423B $341M $-173M -7.14% $-0.51 $653M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.703B ▼ $98.885B ▼ $58.683B ▼ $0 ▼
Q1-2025 $1.819B ▼ $99B ▼ $60.28B ▼ $8.639B ▲
Q4-2024 $2.208B ▲ $102.591B ▼ $64.342B ▼ $8.417B ▼
Q3-2024 $1.748B ▼ $133.327B ▲ $85.364B ▲ $8.457B ▼
Q2-2024 $2.401B $132.625B $84.124B $8.688B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-46M ▲ $64M ▲ $62M ▲ $-260M ▼ $-116M ▲ $18M ▲
Q1-2025 $-129M ▼ $-300M ▼ $-731M ▲ $585M ▼ $-389M ▼ $-331M ▼
Q4-2024 $26M ▲ $260M ▼ $-3.069B ▼ $2.659B ▲ $460M ▲ $141M ▼
Q3-2024 $-525M ▼ $262M ▲ $-861M ▲ $601M ▲ $-653M ▼ $175M ▲
Q2-2024 $-173M $238M $-872M $482M $-172M $141M

Revenue by Products

Product Q2-2022Q4-2022Q2-2023Q4-2023
Gaming And Other Leisure Activities
Gaming And Other Leisure Activities
 $50.00M ▲$130.00M ▲$60.00M ▼$150.00M ▲
Other Hospitality Revenue
Other Hospitality Revenue
 $10.00M ▲$30.00M ▲$40.00M ▲$90.00M ▲
Room Food And Beverage
Room Food And Beverage
 $340.00M ▲$960.00M ▲$590.00M ▼$1.66Bn ▲

Five-Year Company Overview

Income Statement

Income Statement The business is generating solid revenue with a clear upward trend over the past five years, and its core operations appear consistently profitable before interest and other non‑cash items. However, the bottom line has been choppy. After a profitable year in 2021, the company has reported modest losses in recent years. This pattern suggests that financing costs, asset revaluations, or one‑off items are weighing on reported earnings, even though the underlying properties are producing income. Overall, the earnings profile is improving compared with the pandemic period, but it is still not a smooth, steady profit story.

Balance Sheet

Balance Sheet The company controls a very large pool of real estate assets, but it is also carrying a heavy load of debt relative to its equity. Total assets have stayed high, yet the equity cushion has shrunk significantly from earlier levels, which often reflects write‑downs, distributions, or restructuring. Cash on hand is modest compared with the size of the balance sheet, which means the business relies on ongoing access to debt and capital markets. In simple terms, this is a classic highly leveraged real estate balance sheet: powerful when markets are supportive, more vulnerable when interest rates are high or property values soften.

Cash Flow

Cash Flow Cash generation from operations has been volatile, swinging from healthy positive levels to negative and back again. Recently, operating cash flow and free cash flow have moved back into positive territory, which is encouraging, but the history shows that cash performance is not yet consistently stable. Capital spending on properties is relatively modest in the reported figures, though much of the growth in this kind of business typically comes through acquisitions and redevelopment rather than routine capital expenditures. The key watchpoint is whether operating cash flow remains strong and steady enough to comfortably cover interest, distributions, and reinvestment needs given the sizeable debt load.

Competitive Edge

Competitive Edge Brookfield Property Partners benefits from significant competitive strengths: global scale, diversification across property types and regions, and the backing of the broader Brookfield group. It owns many high‑quality, landmark assets and uses a hands‑on, value‑add approach to improve underperforming properties. This combination of operating expertise and access to large pools of capital creates a meaningful barrier to entry for smaller competitors. The integrated platform across real estate, infrastructure, and renewables also gives it an information and deal‑sourcing edge. At the same time, the business remains exposed to structural shifts in office and retail demand, so its competitive position is strong but not immune to industry change.

Innovation and R&D

Innovation and R&D The company is leaning into innovation more aggressively than a typical real estate owner. Its strategy to build out AI‑related infrastructure—data centers, dedicated power solutions, and land for AI “factories”—in partnership with major technology and sovereign partners is a notable step beyond traditional property investment. This positions it as a key physical enabler of the AI ecosystem rather than just a landlord. Alongside this, it continues to adopt property technology tools and invest in platforms that use data to improve leasing and operations, and it has set ambitious sustainability goals. The main question is execution: converting large announced AI and tech initiatives into durable, cash‑producing assets over time.

Summary

Brookfield Property Partners combines a large, diversified real estate platform with an ambitious push into AI infrastructure. Operationally, its properties generate solid income, but reported profits have been inconsistent, and earnings remain sensitive to financing costs and asset valuations. The balance sheet is heavily leveraged, with a relatively thin equity layer and limited cash compared with total assets, which amplifies both upside and downside in changing interest rate and property market environments. Cash flow has improved recently but has a history of swings, making consistency an important risk factor to monitor. On the positive side, the company’s scale, global reach, and backing from the broader Brookfield ecosystem underpin a strong competitive position. Its AI and technology‑driven initiatives could create new long‑term growth avenues if executed well, but they also introduce additional complexity and execution risk. Overall, this is a large, sophisticated, but financially aggressive real estate platform transitioning into a key player in digital and AI infrastructure.