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Side-by-side financial comparison of Brookfield Asset Management Ltd. (BAM) and Barnes & Noble Education, Inc. (BNED). Click either name above to swap in a different company.
Brookfield Asset Management Ltd. is the larger business by last-quarter revenue ($1.1B vs $598.2M, roughly 1.8× Barnes & Noble Education, Inc.). Brookfield Asset Management Ltd. runs the higher net margin — 56.7% vs 4.2%, a 52.5% 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.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
BAM vs BNED — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $598.2M |
| Net Profit | $615.0M | $25.0M |
| Gross Margin | — | 21.7% |
| Operating Margin | 84.2% | 6.8% |
| Net Margin | 56.7% | 4.2% |
| Revenue YoY | — | 6.9% |
| Net Profit YoY | — | -49.7% |
| EPS (diluted) | — | $0.72 |
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 | $598.2M | ||
| Q3 25 | $974.0M | $274.2M | ||
| Q2 25 | $931.0M | $233.0M | ||
| Q1 25 | $954.0M | $419.7M | ||
| Q4 24 | — | $559.7M | ||
| Q3 24 | $873.0M | $250.9M | ||
| Q2 24 | $821.0M | $192.7M | ||
| Q1 24 | $786.0M | $415.4M |
| Q4 25 | $615.0M | $25.0M | ||
| Q3 25 | $692.0M | $-18.3M | ||
| Q2 25 | $584.0M | $-23.0M | ||
| Q1 25 | $507.0M | $17.9M | ||
| Q4 24 | — | $43.2M | ||
| Q3 24 | $537.0M | $-103.9M | ||
| Q2 24 | $124.0M | $-41.9M | ||
| Q1 24 | $373.0M | $-9.3M |
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 20.2% | ||
| Q2 25 | — | 30.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 84.2% | 6.8% | ||
| Q3 25 | 79.1% | -8.4% | ||
| Q2 25 | 70.8% | -4.9% | ||
| Q1 25 | 61.0% | 4.5% | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | 72.5% | -15.4% | ||
| Q2 24 | 80.4% | -16.3% | ||
| Q1 24 | 56.5% | 0.4% |
| Q4 25 | 56.7% | 4.2% | ||
| Q3 25 | 71.0% | -6.7% | ||
| Q2 25 | 62.7% | -9.9% | ||
| Q1 25 | 53.1% | 4.3% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | 61.5% | -41.4% | ||
| Q2 24 | 15.1% | -21.7% | ||
| Q1 24 | 47.5% | -2.2% |
| Q4 25 | — | $0.72 | ||
| Q3 25 | — | $-0.54 | ||
| Q2 25 | — | $2.97 | ||
| Q1 25 | — | $0.59 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | — | $-7.69 | ||
| Q2 24 | — | $-15.68 | ||
| Q1 24 | — | $-3.49 |
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 | $11.7M |
| Total DebtLower is stronger | — | $122.5M |
| Stockholders' EquityBook value | $8.9B | $283.2M |
| Total Assets | $17.0B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $11.7M | ||
| Q3 25 | $1.1B | $7.3M | ||
| Q2 25 | $480.0M | $9.1M | ||
| Q1 25 | $332.0M | $9.2M | ||
| Q4 24 | — | $11.6M | ||
| Q3 24 | — | $8.2M | ||
| Q2 24 | $10.0M | $10.5M | ||
| Q1 24 | — | $8.1M |
| Q4 25 | — | $122.5M | ||
| Q3 25 | — | $170.0M | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | $141.2M | ||
| Q4 24 | — | $177.6M | ||
| Q3 24 | — | $221.9M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $30.2M |
| Q4 25 | $8.9B | $283.2M | ||
| Q3 25 | $8.5B | $256.5M | ||
| Q2 25 | $8.5B | $272.2M | ||
| Q1 25 | $8.5B | $292.9M | ||
| Q4 24 | — | $211.4M | ||
| Q3 24 | $9.0B | $149.8M | ||
| Q2 24 | $3.2B | $80.4M | ||
| Q1 24 | $2.2B | $121.5M |
| Q4 25 | $17.0B | $1.1B | ||
| Q3 25 | $16.5B | $950.8M | ||
| Q2 25 | $16.1B | $790.3M | ||
| Q1 25 | $15.0B | $1.1B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $973.2M | ||
| Q2 24 | $4.2B | $909.9M | ||
| Q1 24 | — | $1.2B |
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 2.44× | ||
| Q1 24 | — | 0.25× |
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 | $66.2M |
| Free Cash FlowOCF − Capex | — | $61.9M |
| FCF MarginFCF / Revenue | — | 10.4% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | 0.91× | 2.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $562.0M | $66.2M | ||
| Q3 25 | $745.0M | $-67.6M | ||
| Q2 25 | $529.0M | $52.6M | ||
| Q1 25 | $265.0M | $-41.9M | ||
| Q4 24 | — | $47.4M | ||
| Q3 24 | $567.0M | $-143.5M | ||
| Q2 24 | $159.0M | $81.7M | ||
| Q1 24 | $516.0M | $-35.8M |
| Q4 25 | — | $61.9M | ||
| Q3 25 | — | $-71.3M | ||
| Q2 25 | — | $49.5M | ||
| Q1 25 | — | $-44.7M | ||
| Q4 24 | — | $44.4M | ||
| Q3 24 | — | $-147.5M | ||
| Q2 24 | — | $79.1M | ||
| Q1 24 | — | $-39.0M |
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | -26.0% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | -10.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | -58.8% | ||
| Q2 24 | — | 41.1% | ||
| Q1 24 | — | -9.4% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 0.91× | 2.65× | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 0.91× | — | ||
| Q1 25 | 0.52× | -2.34× | ||
| Q4 24 | — | 1.10× | ||
| Q3 24 | 1.06× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.38× | — |
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% |
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
