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BRP Inc.

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BRP Inc. • NASDAQ
$69.11 ▼ -0.23% (-0.16)
Market Cap $5.05 B
52w High $70.91
52w Low $31.78
Dividend Yield 0.61%
P/E 35.62
Volume 31.82K
Outstanding Shares 73.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $1.888B ▲ $307.3M ▲ $24.3M ▼ 1.287% ▼ $0.33 ▼ $196.1M ▼
Q1-2025 $1.847B ▼ $300.9M ▼ $150.2M ▲ 8.133% ▲ $2.06 ▲ $326.1M ▲
Q4-2024 $2.098B ▲ $317.4M ▲ $-219.2M ▼ -10.45% ▼ $-2.99 ▼ $116.9M ▼
Q3-2024 $1.956B ▲ $295.1M ▼ $7.1M ▲ 0.363% ▲ $0.096 ▲ $218.1M ▲
Q2-2024 $1.842B $302.1M $6.6M 0.358% $0.089 $171.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $326.5M ▼ $6.29B ▼ $5.796B ▼ $485.6M ▲
Q1-2025 $392M ▲ $6.342B ▲ $5.873B ▼ $464.1M ▲
Q4-2024 $260.8M ▲ $6.293B ▼ $6.047B ▲ $241.3M ▼
Q3-2024 $256.7M ▼ $6.506B ▲ $5.97B ▲ $530.7M ▼
Q2-2024 $282.6M $6.378B $5.824B $547.7M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $23.5M ▼ $158.6M ▼ $-67.7M ▼ $-95.1M ▼ $-40.7M ▼ $79.2M ▼
Q1-2025 $150.1M ▲ $214.5M ▼ $-51.4M ▲ $-78.9M ▲ $132.3M ▲ $160M ▼
Q4-2024 $-219.6M ▼ $307.2M ▲ $-126.1M ▼ $-110M ▼ $34.3M ▲ $180.6M ▲
Q3-2024 $7.1M ▼ $179.9M ▲ $-118.7M ▼ $-64.3M ▲ $-19.7M ▲ $60.9M ▲
Q2-2024 $7.2M $111.6M $-106.6M $-261.1M $-252M $6M

Five-Year Company Overview

Income Statement

Income Statement BRP rode a very strong upswing in sales and profits from 2020 through 2023, then hit a clear slowdown in 2024. Revenue had been climbing quickly, helped by strong demand for powersports vehicles, but most recent figures show a meaningful pullback. Profitability followed the same pattern: margins improved into 2022, softened a bit in 2023, and then dropped sharply in 2024, ending in a net loss. That suggests a tougher environment with weaker demand, higher costs, or heavier discounting. Overall, the business has shown it can be very profitable in good years, but results are clearly sensitive to the cycle and to shifts in consumer spending on discretionary recreational products.

Balance Sheet

Balance Sheet The balance sheet shows a company that runs with substantial debt and a relatively thin equity cushion. Total assets have grown over time, but cash balances have stepped down from early-pandemic highs to fairly modest levels now. Debt has stayed high, while equity only recently turned positive and then shrank again with the latest loss, leaving limited room for error if conditions worsen. This structure can amplify returns in good times but raises financial risk in downturns or if results disappoint for several years in a row.

Cash Flow

Cash Flow Cash generation from operations has generally been solid, even in periods when accounting earnings were under pressure. Free cash flow moved around more, reflecting sizable and fairly steady investment in plants, equipment, and product development. Recent years show that BRP can produce healthy surplus cash when sales are strong and inventory is well managed, but the latest year shows a step down from peak levels as the company faced a tougher backdrop and trimmed capital spending. Overall, cash flow quality looks reasonable, but the business remains capital-intensive and cyclical, so cash swings should be expected.

Competitive Edge

Competitive Edge BRP holds a strong competitive position in recreational powersports, backed by well-known brands like Ski-Doo, Sea-Doo, and Can-Am. Its in-house Rotax engines, global manufacturing scale, and deep dealer network are meaningful advantages that make it harder for smaller rivals to match its product breadth, marketing, and service coverage. Brand loyalty is a key asset: enthusiasts often stay within the BRP ecosystem and buy accessories and upgrades over time. The flip side is that the company is concentrated in a discretionary, highly seasonal category that is sensitive to economic slowdowns, credit conditions, and weather, so even a strong moat does not fully shield it from cyclical demand swings.

Innovation and R&D

Innovation and R&D Innovation is a core part of BRP’s identity. The company invests heavily in performance technologies, like its Rotax engines and advanced suspension systems, and it has a strong design culture that consistently produces distinctive vehicles and accessories. Its push into electrification is ambitious: BRP is building modular electric powertrains and rolling out electric motorcycles, snowmobiles, and water products. This offers long-term growth and differentiation potential but also adds execution risk, as the company must manage the timing of EV spending, customer adoption, and dealer readiness in a market where electric demand can be uneven and regulatory trends are evolving.

Summary

BRP is a leader in powersports with powerful brands, strong engineering, and a clear innovation pipeline, but it operates in a highly cyclical, discretionary niche. The past few years show both sides of that coin: strong growth and high profitability during peak demand, followed by a notable reset and a swing to losses more recently. The balance sheet is workable but leveraged, leaving less buffer if the current softness lasts. On the positive side, the company’s product innovation, dealer network, and electrification strategy provide multiple avenues for future growth when demand recovers. Overall, BRP combines meaningful competitive strengths with elevated exposure to economic cycles and execution risk around its next wave of products, especially in electric platforms.

NEWS

November 28, 2025 · 11:10 AM UTC

BRP Donates More Than $300,000 to Ride Out Intimidation on its Fourth Annual Yellow Day

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November 20, 2025 · 9:00 AM UTC

BRP Will Present its Third Quarter Fiscal Year 2026 Results

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October 28, 2025 · 9:00 AM UTC

Can-Am and MeatEater Fortify Partnership to Champion Hunting, Conservation, and Outdoor Adventure

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October 20, 2025 · 2:29 PM UTC

Can-Am 3-Wheel Vehicle, the Canyon Redrock, Awarded Motorcycle Of The Year

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