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Side-by-side financial comparison of Brookfield Asset Management Ltd. (BAM) and Bath & Body Works, Inc. (BBWI). Click either name above to swap in a different company.
Bath & Body Works, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.5× Brookfield Asset Management Ltd.). Brookfield Asset Management Ltd. runs the higher net margin — 56.7% vs 4.8%, a 51.9% gap on every dollar of revenue.
Brookfield Asset Management Ltd. is a Canadian-American alternative asset manager. The company was founded in December 2022 as a spin-off of the asset management operations of Brookfield Corporation, and manages investments across real estate, infrastructure, renewable energy, private equity, and credit markets globally.
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
BAM vs BBWI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $615.0M | $77.0M |
| Gross Margin | — | 41.3% |
| Operating Margin | 84.2% | 10.1% |
| Net Margin | 56.7% | 4.8% |
| Revenue YoY | — | -1.0% |
| Net Profit YoY | — | -27.4% |
| EPS (diluted) | — | $0.37 |
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.
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $974.0M | $1.5B | ||
| Q2 25 | $931.0M | $1.4B | ||
| Q1 25 | $954.0M | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $873.0M | $1.5B | ||
| Q2 24 | $821.0M | $1.4B | ||
| Q1 24 | $786.0M | $2.9B |
| Q4 25 | $615.0M | $77.0M | ||
| Q3 25 | $692.0M | $64.0M | ||
| Q2 25 | $584.0M | $105.0M | ||
| Q1 25 | $507.0M | $453.0M | ||
| Q4 24 | — | $106.0M | ||
| Q3 24 | $537.0M | $152.0M | ||
| Q2 24 | $124.0M | $87.0M | ||
| Q1 24 | $373.0M | $579.0M |
| Q4 25 | — | 41.3% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 45.4% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 41.0% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 45.9% |
| Q4 25 | 84.2% | 10.1% | ||
| Q3 25 | 79.1% | 10.1% | ||
| Q2 25 | 70.8% | 14.7% | ||
| Q1 25 | 61.0% | 24.3% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | 72.5% | 12.0% | ||
| Q2 24 | 80.4% | 13.5% | ||
| Q1 24 | 56.5% | 23.9% |
| Q4 25 | 56.7% | 4.8% | ||
| Q3 25 | 71.0% | 4.1% | ||
| Q2 25 | 62.7% | 7.4% | ||
| Q1 25 | 53.1% | 16.3% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 61.5% | 10.0% | ||
| Q2 24 | 15.1% | 6.3% | ||
| Q1 24 | 47.5% | 19.9% |
| Q4 25 | — | $0.37 | ||
| Q3 25 | — | $0.30 | ||
| Q2 25 | — | $0.49 | ||
| Q1 25 | — | $2.06 | ||
| Q4 24 | — | $0.49 | ||
| Q3 24 | — | $0.68 | ||
| Q2 24 | — | $0.38 | ||
| Q1 24 | — | $2.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $236.0M |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $8.9B | $-1.6B |
| Total Assets | $17.0B | $5.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $236.0M | ||
| Q3 25 | $1.1B | $364.0M | ||
| Q2 25 | $480.0M | $636.0M | ||
| Q1 25 | $332.0M | $674.0M | ||
| Q4 24 | — | $191.0M | ||
| Q3 24 | — | $514.0M | ||
| Q2 24 | $10.0M | $855.0M | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | $8.9B | $-1.6B | ||
| Q3 25 | $8.5B | $-1.5B | ||
| Q2 25 | $8.5B | $-1.5B | ||
| Q1 25 | $8.5B | $-1.4B | ||
| Q4 24 | — | $-1.7B | ||
| Q3 24 | $9.0B | $-1.7B | ||
| Q2 24 | $3.2B | $-1.7B | ||
| Q1 24 | $2.2B | $-1.6B |
| Q4 25 | $17.0B | $5.0B | ||
| Q3 25 | $16.5B | $4.8B | ||
| Q2 25 | $16.1B | $4.9B | ||
| Q1 25 | $15.0B | $4.9B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | $4.2B | $5.2B | ||
| Q1 24 | — | $5.5B |
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 | $562.0M | $80.0M |
| Free Cash FlowOCF − Capex | — | $-1.0M |
| FCF MarginFCF / Revenue | — | -0.1% |
| Capex IntensityCapex / Revenue | — | 5.1% |
| Cash ConversionOCF / Net Profit | 0.91× | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $946.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $562.0M | $80.0M | ||
| Q3 25 | $745.0M | $-43.0M | ||
| Q2 25 | $529.0M | $188.0M | ||
| Q1 25 | $265.0M | $955.0M | ||
| Q4 24 | — | $-99.0M | ||
| Q3 24 | $567.0M | $-46.0M | ||
| Q2 24 | $159.0M | $76.0M | ||
| Q1 24 | $516.0M | $926.0M |
| Q4 25 | — | $-1.0M | ||
| Q3 25 | — | $-99.0M | ||
| Q2 25 | — | $151.0M | ||
| Q1 25 | — | $895.0M | ||
| Q4 24 | — | $-164.0M | ||
| Q3 24 | — | $-101.0M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | — | $878.0M |
| Q4 25 | — | -0.1% | ||
| Q3 25 | — | -6.4% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 32.1% | ||
| Q4 24 | — | -10.2% | ||
| Q3 24 | — | -6.6% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 30.2% |
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | 0.91× | 1.04× | ||
| Q3 25 | 1.08× | -0.67× | ||
| Q2 25 | 0.91× | 1.79× | ||
| Q1 25 | 0.52× | 2.11× | ||
| Q4 24 | — | -0.93× | ||
| Q3 24 | 1.06× | -0.30× | ||
| Q2 24 | 1.28× | 0.87× | ||
| Q1 24 | 1.38× | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAM
| Incentive Fees | $452.0M | 42% |
| Infrastruture | $332.0M | 31% |
| Private Equity | $174.0M | 16% |
| Renewable Power And Transition | $66.0M | 6% |
| Other | $47.0M | 4% |
| Management And Advisory Fees | $14.0M | 1% |
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
