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Side-by-side financial comparison of Brookfield Asset Management Ltd. (BAM) and SM Energy Co (SM). 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 $704.9M, roughly 1.5× SM Energy Co).
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.
SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.
BAM vs SM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $704.9M |
| Net Profit | $615.0M | — |
| Gross Margin | — | — |
| Operating Margin | 84.2% | 25.9% |
| Net Margin | 56.7% | — |
| Revenue YoY | — | -17.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.94 |
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 | $704.9M | ||
| Q3 25 | $974.0M | $811.6M | ||
| Q2 25 | $931.0M | $792.9M | ||
| Q1 25 | $954.0M | $844.5M | ||
| Q4 24 | — | $852.0M | ||
| Q3 24 | $873.0M | $643.6M | ||
| Q2 24 | $821.0M | $634.6M | ||
| Q1 24 | $786.0M | $559.9M |
| Q4 25 | $615.0M | — | ||
| Q3 25 | $692.0M | $155.1M | ||
| Q2 25 | $584.0M | $201.7M | ||
| Q1 25 | $507.0M | $182.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | $537.0M | $240.5M | ||
| Q2 24 | $124.0M | $210.3M | ||
| Q1 24 | $373.0M | $131.2M |
| Q4 25 | 84.2% | 25.9% | ||
| Q3 25 | 79.1% | 30.4% | ||
| Q2 25 | 70.8% | 37.2% | ||
| Q1 25 | 61.0% | 32.7% | ||
| Q4 24 | — | 33.7% | ||
| Q3 24 | 72.5% | 51.4% | ||
| Q2 24 | 80.4% | 44.0% | ||
| Q1 24 | 56.5% | 31.9% |
| Q4 25 | 56.7% | — | ||
| Q3 25 | 71.0% | 19.1% | ||
| Q2 25 | 62.7% | 25.4% | ||
| Q1 25 | 53.1% | 21.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 61.5% | 37.4% | ||
| Q2 24 | 15.1% | 33.1% | ||
| Q1 24 | 47.5% | 23.4% |
| Q4 25 | — | $0.94 | ||
| Q3 25 | — | $1.35 | ||
| Q2 25 | — | $1.76 | ||
| Q1 25 | — | $1.59 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | — | $2.09 | ||
| Q2 24 | — | $1.82 | ||
| Q1 24 | — | $1.13 |
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 | $368.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.9B | $4.8B |
| Total Assets | $17.0B | $9.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $368.0M | ||
| Q3 25 | $1.1B | $162.3M | ||
| Q2 25 | $480.0M | $101.9M | ||
| Q1 25 | $332.0M | $54.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $10.0M | $487.9M | ||
| Q1 24 | — | $506.3M |
| Q4 25 | $8.9B | $4.8B | ||
| Q3 25 | $8.5B | $4.7B | ||
| Q2 25 | $8.5B | $4.6B | ||
| Q1 25 | $8.5B | $4.4B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | $9.0B | $4.1B | ||
| Q2 24 | $3.2B | $3.8B | ||
| Q1 24 | $2.2B | $3.7B |
| Q4 25 | $17.0B | $9.3B | ||
| Q3 25 | $16.5B | $9.1B | ||
| Q2 25 | $16.1B | $9.0B | ||
| Q1 25 | $15.0B | $8.8B | ||
| Q4 24 | — | $8.6B | ||
| Q3 24 | — | $8.0B | ||
| Q2 24 | $4.2B | $6.7B | ||
| Q1 24 | — | $6.4B |
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 | $451.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.91× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $562.0M | $451.9M | ||
| Q3 25 | $745.0M | $505.0M | ||
| Q2 25 | $529.0M | $571.1M | ||
| Q1 25 | $265.0M | $483.0M | ||
| Q4 24 | — | $578.4M | ||
| Q3 24 | $567.0M | $452.3M | ||
| Q2 24 | $159.0M | $476.4M | ||
| Q1 24 | $516.0M | $276.0M |
| Q4 25 | 0.91× | — | ||
| Q3 25 | 1.08× | 3.26× | ||
| Q2 25 | 0.91× | 2.83× | ||
| Q1 25 | 0.52× | 2.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.06× | 1.88× | ||
| Q2 24 | 1.28× | 2.27× | ||
| Q1 24 | 1.38× | 2.10× |
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% |
SM
Segment breakdown not available.
