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Engineering & construction · Industrials · Fiscal year ends Dec 31
Brookfield Business reported revenue of $27.5B in the fiscal year ended Dec 2025, down 32.4% from the year before. Operating income was $480M, an operating margin of 1.7%, and net income was $387M. Operating cash flow of $3.2B less capital expenditure of $2.1B left free cash flow of $1.2B. Net debt was $38.9B.
Ranks among the 23 engineering & construction companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 46,587 | 57,385 | 55,068 | 40,620 | 27,457 |
| Selling, general & admin | 1,012 | 1,360 | 1,538 | 1,267 | 1,151 |
| Operating incomederived: pre-tax income + interest | 2,318 | −79.0 | 3,722 | 594 | 480 |
| Pre-tax income | 2,318 | −79.0 | 3,722 | 594 | 480 |
| Income tax | 165 | −319 | −55.0 | −301 | 93.0 |
| Net income | 2,153 | 240 | 3,777 | 895 | 387 |
| Diluted EPS | 3.28 | 0.48 | 6.49 | −0.50 | −0.30 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 2,588 | 2,870 | 3,252 | 3,239 | 3,546 |
| Receivables | 4,945 | 6,401 | 5,558 | 5,178 | 6,550 |
| Inventory | 4,512 | 5,186 | 3,665 | 2,416 | 2,562 |
| Current assets | 15,418 | 18,294 | 14,885 | 15,339 | 15,043 |
| Net PP&E | 15,325 | 15,893 | 15,724 | 13,232 | 11,013 |
| Goodwill | 8,585 | 15,479 | 14,129 | 12,239 | 13,310 |
| Total assets | 64,219 | 89,250 | 82,385 | 75,474 | 75,761 |
| Payables | 11,850 | 12,919 | 11,598 | 10,550 | 7,630 |
| Deferred revenue | 1,397 | 1,175 | 481 | 382 | 359 |
| Current liabilities | 13,912 | 16,677 | 14,355 | 12,166 | 8,982 |
| Short-term debt | 2,062 | 3,758 | 2,757 | 1,616 | 1,352 |
| Long-term debt | 25,395 | 40,835 | 38,052 | 35,104 | 41,072 |
| Total liabilities | 51,219 | 70,821 | 63,853 | 58,166 | 60,450 |
| Shareholders' equity | 13,017 | 18,429 | 18,532 | 17,308 | 15,311 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,693 | 1,011 | 2,130 | 3,281 | 3,230 |
| Capital expenditure | 1,450 | 1,748 | 2,288 | 2,520 | 2,060 |
| Free cash flow | 243 | −737 | −158 | 761 | 1,170 |
| Depreciation & amortisation | 2,283 | 3,223 | 3,592 | 3,204 | 3,030 |
| Stock-based compensation | – | – | 10.0 | 4.0 | – |
| Acquisitions | 8,944 | 17,145 | 731 | 115 | 1,683 |
| Share buybacks | 83.0 | 78.0 | 5.0 | 0.0 | 224 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 23.2% | −4.0% | −26.2% | −32.4% |
| Operating income growth (YoY) | – | −103.4% | – | −84.0% | −19.2% |
| EPS growth (YoY) | – | −85.4% | 1252.1% | −107.7% | – |
| Operating margin | 5.0% | −0.1% | 6.8% | 1.5% | 1.7% |
| Net margin | 4.6% | 0.4% | 6.9% | 2.2% | 1.4% |
| Return on equityBlank when equity is negative | 16.5% | 1.3% | 20.4% | 5.2% | 2.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.6% | −0.1% | 5.5% | 0.9% | 0.7% |
| Free cash flow margin | 0.5% | −1.3% | −0.3% | 1.9% | 4.3% |
| Cash conversion (CFO ÷ net income) | 0.79x | 4.21x | 0.56x | 3.67x | 8.35x |
| Receivable days | 39 | 41 | 37 | 47 | 87 |
| Debt ÷ equity | 2.11x | 2.42x | 2.20x | 2.12x | 2.77x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 24,869 | 41,723 | 37,557 | 33,481 | 38,878 |
| Current ratio | 1.11x | 1.10x | 1.04x | 1.26x | 1.67x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.