Brookfield Asset Management Ltd. (BAM) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-55.8%

$23.01

vs $52.08 price

Levered DCF

$12.35

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

6.5

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	34.02×	40.14×	34.63×	5.94×	6.9×	32.32×	0×
P/B	10.4×	26.76×	30.68×	4.78×	1.32×	1.42×	0×
P/S	18.33×	21.83×	15.68×	3.13×	4.62×	5.98×	0×
EV / EBITDA	26.53×	35.86×	24.32×	4.33×	4×	10.7×	0×
Gross margin	70.2%	71.0%	74.2%	80.7%	74.8%	100.0%	100.0%
Operating margin	65.8%	69.4%	72.8%	78.5%	74.1%	57.8%	56.0%
Net margin	53.9%	54.5%	45.3%	52.8%	67.0%	17.7%	88.0%
Current ratio	1.43×	0.88×	0.8×	1×	1.4×	1.69×	0×
Debt / equity	0.36×	0.07×	0.12×	0×	0.47×	0.53×	0×
Interest coverage	26.38×	20.31×	41.66×	948.67×	12.09×	4.84×	7.9×
Dividend yield	3.3%	2.9%	3.3%	28.0%	0.0%	0.0%	0.0%
Payout ratio	113.4%	114.3%	114.2%	166.3%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	30.6%	66.8%	88.6%	80.6%	19.1%	4.2%	0.0%
Return on invested capital	17.9%	65.4%	105.7%	98.1%	9.0%	5.1%	0.0%
Return on assets	14.6%	49.4%	57.4%	60.6%	7.3%	1.7%	0.0%
Free cash flow yield	2.5%	1.9%	2.3%	-3.4%	10.9%	13.7%	0.0%
Earnings yield	2.9%	2.5%	2.9%	16.9%	14.5%	3.0%	0.0%
Enterprise value	$85.8B	$87.1B	$63.9B	$11.4B	$15B	$15.6B	$0
Net debt / EBITDA	0.42×	0.09×	0.09×	0×	0.55×	1.84×	0×
Cash conversion cycle (days)	-368	-189	-220	-329	569	687	0