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Side-by-side financial comparison of ALGONQUIN POWER & UTILITIES CORP. (AQN) and Brookfield Renewable Partners L.P. (BEP). Click either name above to swap in a different company.
Brookfield Renewable Partners L.P. is the larger business by last-quarter revenue ($1.7B vs $527.8M, roughly 3.2× ALGONQUIN POWER & UTILITIES CORP.). Brookfield Renewable Partners L.P. runs the higher net margin — 5.9% vs 4.6%, a 1.3% gap on every dollar of revenue. On growth, Brookfield Renewable Partners L.P. posted the faster year-over-year revenue change (14.2% vs -11.8%).
Algonquin Power & Utilities Corp. is a Canadian regulated utility company with assets across North America, Bermuda, and Chile. Algonquin provides water, wastewater, natural gas, and electricity services through its operating subsidiaries: Liberty Utilities, its regulated utility business; Bermuda Electric Light Company, and Suralis in Chile.
Brookfield Renewable Partners L.P.BEPEarnings & Financial Report
Brookfield Renewable Partners L.P. is a publicly traded limited partnership that owns and operates renewable power assets, with corporate headquarters in Toronto, Ontario, Canada. It is 60% owned by Brookfield Asset Management.
AQN vs BEP — Head-to-Head
Income Statement — Q2 2025 vs Q2 2025
| Metric | | |
|---|---|---|
| Revenue | $527.8M | $1.7B |
| Net Profit | $24.1M | $100.0M |
| Gross Margin | 36.8% | — |
| Operating Margin | 12.3% | — |
| Net Margin | 4.6% | 5.9% |
| Revenue YoY | -11.8% | 14.2% |
| Net Profit YoY | -88.0% | 213.6% |
| EPS (diluted) | $0.02 | $-0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 25 | $527.8M | $1.7B | ||
| Q2 24 | $598.6M | $1.5B | ||
| Q2 23 | $627.9M | $1.2B | ||
| Q2 22 | $619.4M | $1.3B |
| Q2 25 | $24.1M | $100.0M | ||
| Q2 24 | $200.8M | $-88.0M | ||
| Q2 23 | $-253.2M | $151.0M | ||
| Q2 22 | $-33.4M | $122.0M |
| Q2 25 | 36.8% | — | ||
| Q2 24 | 29.6% | — | ||
| Q2 23 | 24.3% | — | ||
| Q2 22 | 22.6% | — |
| Q2 25 | 12.3% | — | ||
| Q2 24 | 13.7% | — | ||
| Q2 23 | 14.9% | — | ||
| Q2 22 | 17.3% | — |
| Q2 25 | 4.6% | 5.9% | ||
| Q2 24 | 33.5% | -5.9% | ||
| Q2 23 | -40.3% | 12.5% | ||
| Q2 22 | -5.4% | 9.6% |
| Q2 25 | $0.02 | $-0.22 | ||
| Q2 24 | $0.03 | $-0.28 | ||
| Q2 23 | $-0.16 | $-0.10 | ||
| Q2 22 | $0.02 | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $55.1M | $1.9B |
| Total DebtLower is stronger | $6.3B | — |
| Stockholders' EquityBook value | $4.7B | $33.3B |
| Total Assets | $3.6B | $98.6B |
| Debt / EquityLower = less leverage | 1.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | $55.1M | $1.9B | ||
| Q2 24 | $237.9M | $1.2B | ||
| Q2 23 | $403.6M | $1.2B | ||
| Q2 22 | $227.6M | $1.1B |
| Q2 25 | $6.3B | — | ||
| Q2 24 | $8.3B | — | ||
| Q2 23 | $8.1B | — | ||
| Q2 22 | $7.5B | — |
| Q2 25 | $4.7B | $33.3B | ||
| Q2 24 | $6.2B | $28.0B | ||
| Q2 23 | $5.2B | $28.5B | ||
| Q2 22 | $5.6B | $23.0B |
| Q2 25 | $3.6B | $98.6B | ||
| Q2 24 | $3.1B | $73.8B | ||
| Q2 23 | $3.3B | $65.9B | ||
| Q2 22 | $3.3B | $57.0B |
| Q2 25 | 1.35× | — | ||
| Q2 24 | 1.34× | — | ||
| Q2 23 | 1.56× | — | ||
| Q2 22 | 1.33× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $249.9M | $379.0M |
| Free Cash FlowOCF − Capex | $64.1M | — |
| FCF MarginFCF / Revenue | 12.1% | — |
| Capex IntensityCapex / Revenue | 35.2% | — |
| Cash ConversionOCF / Net Profit | 10.37× | 3.79× |
| TTM Free Cash FlowTrailing 4 quarters | $-41.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | $249.9M | $379.0M | ||
| Q2 24 | $236.2M | $231.0M | ||
| Q2 23 | $261.4M | $382.0M | ||
| Q2 22 | $135.3M | $438.0M |
| Q2 25 | $64.1M | — | ||
| Q2 24 | $31.9M | — | ||
| Q2 23 | $16.2M | — | ||
| Q2 22 | $-112.2M | — |
| Q2 25 | 12.1% | — | ||
| Q2 24 | 5.3% | — | ||
| Q2 23 | 2.6% | — | ||
| Q2 22 | -18.1% | — |
| Q2 25 | 35.2% | — | ||
| Q2 24 | 34.1% | — | ||
| Q2 23 | 39.1% | — | ||
| Q2 22 | 40.0% | — |
| Q2 25 | 10.37× | 3.79× | ||
| Q2 24 | 1.18× | — | ||
| Q2 23 | — | 2.53× | ||
| Q2 22 | — | 3.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
