Brookfield Oaktree Holdings, LLC 6.625 % Non-Cum Red Perp Pfd Units Series A (OAK.PA) 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

+102.4%

$39.60

vs $19.57 price

Levered DCF

$92.40

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.06

Distress zone

Rating

Overall 4 / 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	FY2018
P/E	11.16×	8.89×	12.03×	12.36×	4.38×	19.68×	16.9×	7.66×
P/B	1.1×	1.04×	1.03×	1.41×	1.59×	1.05×	0.23×	1.16×
P/S	3.4×	2.96×	3.06×	4.44×	1.77×	8.41×	2.34×	1.17×
EV / EBITDA	6.22×	3.96×	5.36×	4.42×	7.88×	6.3×	2.16×	9.66×
Gross margin	88.5%	87.7%	73.7%	64.3%	54.9%	56.1%	74.0%	70.8%
Operating margin	83.6%	105.4%	77.5%	25.3%	48.4%	-58.1%	-10.6%	14.6%
Net margin	34.1%	36.5%	29.0%	41.4%	42.3%	51.3%	16.8%	16.2%
Current ratio	0.19×	0.04×	0×	273.71×	0.16×	0.05×	28.59×	1.55×
Debt / equity	0.59×	0.62×	0.52×	0.78×	5.41×	0.03×	0×	4.11×
Interest coverage	6.9×	8.89×	11.74×	0.5×	4.66×	-1.19×	-0.49×	1.26×
Dividend yield	0.2%	13.7%	5.3%	10.0%	18.7%	3.6%	21.7%	13.8%
Payout ratio	2.4%	110.8%	56.3%	107.0%	78.0%	58.6%	301.4%	99.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.1%	12.8%	9.8%	13.2%	38.0%	6.4%	1.7%	16.0%
Return on invested capital	9.0%	12.5%	7.7%	1.8%	51.9%	-77.4%	-1.6%	2.1%
Return on assets	3.7%	4.3%	2.9%	3.6%	4.4%	8.0%	73.5%	2.1%
Free cash flow yield	18.2%	34.1%	20.9%	20.1%	59.0%	24.0%	52.8%	-38.5%
Earnings yield	10.0%	12.3%	9.5%	9.3%	23.9%	6.1%	7.2%	13.8%
Enterprise value	$3.8B	$3.5B	$3.2B	$3.2B	$10.5B	$1.6B	$1.3B	$6.5B
Net debt / EBITDA	2.15×	1.15×	1.41×	1.42×	5.89×	-4.48×	-1.34×	7.27×
Cash conversion cycle (days)	14	25	186	-12,487	-8,613	-29,421	-15,194	-0