Also trades as: BAM.TO (TSX) · $vol 68M

$46.75

-0.29 (-0.62%)

Weekly Expected Move ±3.3%

$44 $45 $47 $49 $50

NYSE · Financial Services · Asset Management · Tech Score Buy · Power 61 · $74.7B mcap · 320M float · 0.854% daily turnover · Short 63% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $82.3M held by 197 funds, 109 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$4.9B +23.1% ▲

5Y CAGR: +17.9%

Gross Profit

$4.6B +61.6% ▲

5Y CAGR: +22.8%

Operating Income

$2.8B +2.2% ▲

5Y CAGR: +13.2%

Net Income

$2.5B +16.6% ▲

5Y CAGR: +45.9%

EPS (Diluted)

$1.55 +21.1% ▲

5Y CAGR: +9.4%

EBITDA

$3.0B +25.4% ▲

5Y CAGR: +17.3%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$3.1B	$3.6B	$4.1B	$4.0B	$4.9B
YoY Growth	+43.3%	+17.5%	+12.0%	-2.0%	+23.1%
Cost of Revenue	$703M	$700M	$1.0B	$1.2B	$335M
Gross Profit	$2.4B	$2.9B	$3.0B	$2.8B	$4.6B
Gross Margin	77.2%	80.7%	74.2%	71.0%	93.2%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$132M	$81M	$56M	$64M	$0
Operating Expenses	$132M	$81M	$56M	$64M	$1.7B
Operating Income	$2.3B	$2.8B	$3.0B	$2.8B	$2.8B
Operating Margin	73.0%	78.5%	72.8%	69.4%	57.6%
Interest Expense	$382M	$3M	$71M	$136M	$0
Income Before Tax	$3.3B	$3.5B	$2.6B	$2.5B	$3.0B
Tax Expense	$504M	$627M	$417M	$438M	$536M
Net Income	$1.9B	$1.9B	$1.8B	$2.2B	$2.5B
Net Margin	60.0%	52.8%	45.3%	54.5%	51.6%
EPS (Diluted)	$4.64	$0.05	$1.16	$1.28	$1.55
EBITDA	$2.1B	$2.6B	$2.6B	$2.4B	$3.0B
Shares Outstanding	1.61B	1.60B	1.56B	1.68B	1.63B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$1.1B	$1.1B	$1.1B	$1.1B	$1.2B	$1.2B	$1.3B	$1.7B
Cost of Revenue	$326M	$276M	$259M	$404M	$12M	$331M	$234M	$128M
Gross Profit	$791M	$787M	$822M	$686M	$1.2B	$905M	$1.1B	$1.6B
Gross Margin	70.8%	74.0%	76.0%	62.9%	99.0%	73.2%	82.3%	92.5%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$20M	$22M	$6M	$18M	$0	$9M	$22M	$22M
Operating Expenses	$20M	$22M	$6M	$18M	$452M	-$42M	$443M	$659M
Operating Income	$771M	$765M	$816M	$668M	$774M	$947M	$643M	$922M
Operating Margin	69.0%	72.0%	75.5%	61.3%	62.5%	76.6%	48.7%	54.0%
Interest Expense	$31M	$28M	$159M	$54M	$60M	$0	$46M	$0
Income Before Tax	$633M	$809M	$582M	$659M	$761M	$914M	$686M	$1.3B
Tax Expense	$96M	$129M	$75M	$75M	$69M	$299M	$108M	$162M
Net Income	$544M	$688M	$581M	$620M	$716M	$560M	$608M	$904M
Net Margin	48.7%	64.7%	53.7%	56.9%	57.8%	45.3%	46.1%	52.9%
EPS (Diluted)	$0.30	$0.43	$0.36	$0.38	$0.44	$0.34	$0.38	$0.56
EBITDA	$691M	$659M	$741M	$597M	$803M	$976M	$746M	$1.2B
Shares Outstanding	1.71B	1.68B	1.63B	1.63B	1.63B	1.65B	1.62B	1.62B

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