Brookfield Business (BBUC)
Market Price (12/24/2025): $35.95 | Market Cap: $2.5 BilSector: Financials | Industry: Asset Management & Custody Banks
Brookfield Business (BBUC)
Market Price (12/24/2025): $35.95Market Cap: $2.5 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Low stock price volatilityVol 12M is 40% | Trading close to highsDist 52W High is -3.8%, Dist 3Y High is -3.8% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 293% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Sustainable Infrastructure. Themes include Solar Energy Generation, Wind Energy Development, Show more. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.02 | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -24% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -46% | ||
| Key risksBBUC key risks include [1] persistent net losses with no clear profit growth drivers, Show more. |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Sustainable Infrastructure. Themes include Solar Energy Generation, Wind Energy Development, Show more. |
| Trading close to highsDist 52W High is -3.8%, Dist 3Y High is -3.8% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.02 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 293% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -24% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -46% |
| Key risksBBUC key risks include [1] persistent net losses with no clear profit growth drivers, Show more. |
Why The Stock Moved
Qualitative Assessment
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The period from August 31, 2025, to December 24, 2025, saw several significant developments for Brookfield Business (symbol: BBUC) that could explain a 9.1% stock movement. These key points are outlined below:1. Strong Second Quarter 2025 Financial Performance: Brookfield Business Partners announced its Second Quarter 2025 results on August 1, 2025, just before the start of the period. The company reported improved net income, shifting from a net loss in the prior period to a net income of $26 million attributable to Unitholders. Additionally, Adjusted EBITDA increased to $591 million, up from $524 million in the prior period, reflecting strong operational performance and contributions from recent acquisitions.
2. Strategic Asset Monetization for Capital Return and Debt Reduction: On July 3, 2025, Brookfield Business Partners announced an agreement to sell a partial interest in three businesses to seed a new evergreen private equity strategy. This transaction was deemed accretive to the trading price of units and shares, providing a strong outcome that enabled Brookfield Business Partners to accelerate capital return and reduce corporate leverage.
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Stock Movement Drivers
Fundamental Drivers
The -0.7% change in BBUC stock from 9/23/2025 to 12/23/2025 was primarily driven by a -6.4% change in the company's Total Revenues ($ Mil).| 9232025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 36.18 | 35.94 | -0.67% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8240.00 | 7713.00 | -6.40% |
| P/S Multiple | 0.31 | 0.33 | 6.11% |
| Shares Outstanding (Mil) | 70.00 | 70.00 | 0.00% |
| Cumulative Contribution | -0.67% |
Market Drivers
9/23/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| BBUC | -0.7% | |
| Market (SPY) | 3.7% | 53.7% |
| Sector (XLF) | 3.1% | 33.3% |
Fundamental Drivers
The 15.2% change in BBUC stock from 6/24/2025 to 12/23/2025 was primarily driven by a 21.1% change in the company's P/S Multiple.| 6242025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 31.21 | 35.94 | 15.17% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8309.00 | 7713.00 | -7.17% |
| P/S Multiple | 0.27 | 0.33 | 21.13% |
| Shares Outstanding (Mil) | 71.69 | 70.00 | 2.37% |
| Cumulative Contribution | 15.10% |
Market Drivers
6/24/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| BBUC | 15.2% | |
| Market (SPY) | 13.7% | 43.9% |
| Sector (XLF) | 7.8% | 33.1% |
Fundamental Drivers
The 54.1% change in BBUC stock from 12/23/2024 to 12/23/2025 was primarily driven by a 52.3% change in the company's P/S Multiple.| 12232024 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 23.32 | 35.94 | 54.12% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 7945.00 | 7713.00 | -2.92% |
| P/S Multiple | 0.21 | 0.33 | 52.32% |
| Shares Outstanding (Mil) | 72.95 | 70.00 | 4.05% |
| Cumulative Contribution | 53.86% |
Market Drivers
12/23/2024 to 12/23/2025| Return | Correlation | |
|---|---|---|
| BBUC | 54.1% | |
| Market (SPY) | 16.7% | 59.3% |
| Sector (XLF) | 15.7% | 57.6% |
Fundamental Drivers
The 96.8% change in BBUC stock from 12/24/2022 to 12/23/2025 was primarily driven by a 63.7% change in the company's P/S Multiple.| 12242022 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 18.26 | 35.94 | 96.82% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 6688.00 | 7713.00 | 15.33% |
| P/S Multiple | 0.20 | 0.33 | 63.75% |
| Shares Outstanding (Mil) | 72.96 | 70.00 | 4.06% |
| Cumulative Contribution | 96.50% |
Market Drivers
12/24/2023 to 12/23/2025| Return | Correlation | |
|---|---|---|
| BBUC | 58.2% | |
| Market (SPY) | 48.4% | 56.9% |
| Sector (XLF) | 52.3% | 54.2% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BBUC Return | � | � | � | 26% | 5% | 50% | � |
| Peers Return | 23% | 66% | -29% | 44% | 24% | -22% | 100% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| BBUC Win Rate | � | � | 22% | 58% | 50% | 58% | |
| Peers Win Rate | 53% | 70% | 37% | 63% | 60% | 43% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| BBUC Max Drawdown | � | � | � | -24% | -20% | -9% | |
| Peers Max Drawdown | -35% | -6% | -36% | -5% | -6% | -37% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CODI, DHR, ROP, KKR, BX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)
How Low Can It Go
| Event | BBUC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -58.3% | -25.4% |
| % Gain to Breakeven | 140.0% | 34.1% |
| Time to Breakeven | 665 days | 464 days |
Compare to VRTS, SLRC, DHIL, GEG, BNBX
In The Past
Brookfield Business's stock fell -58.3% during the 2022 Inflation Shock from a high on 3/25/2022. A -58.3% loss requires a 140.0% gain to breakeven.
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Brookfield Business Corporation focuses on healthcare, construction, and wastewater services in the United States, Europe, Australia, the United Kingdom, Canada, and Brazil. It operates through three segments: Business Services, Infrastructure Services, and Industrials. The company operates 42 hospitals; offers construction services for office, residential, hospitality and leisure, social infrastructure, retail, and mixed-use properties; and provides nuclear technology services, such as fuel, maintenance services, engineering solutions, instrumentation and control systems, and manufactured components for nuclear power plants. It also engages in the collection, treatment, and distribution of water and wastewater to the residential and governmental customers. The company was incorporated in 2021 and is headquartered in New York, New York.
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- Berkshire Hathaway for industrial and service businesses.
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Major Products and Services of Brookfield Business Corporation (BBUC):
- Business Services: Provides a range of essential operating and technical services, including facilities management, real estate services, and consulting.
- Infrastructure Services: Offers services critical to infrastructure, such as utility management, data infrastructure services, and logistics solutions.
- Industrials: Manufactures and supplies various engineered products and components, including graphite electrodes, automotive parts, and specialized industrial materials.
- Energy Transition Services: Delivers services and produces components that support the global shift to sustainable energy sources and related industries.
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Brookfield Business Partners (Symbol: BBUC)
Brookfield Business Partners (BBUC) operates a diverse portfolio of businesses across various sectors, including business services, industrials, and infrastructure services. Through its underlying operating companies, BBUC primarily sells to other businesses (B2B) and, in some cases, to government entities. Due to the highly diversified nature of its global operations, which encompass numerous distinct businesses, BBUC does not have a small number of identifiable "major customers" that account for a significant portion of its consolidated revenue. Each of its operating companies serves its own broad and diverse customer base within its respective industry. For example: * **Business Services:** Customers include corporations, healthcare providers, and government agencies that utilize services such as facilities management, logistics, and water utility services. * **Industrials:** Customers include manufacturers, construction companies, and automotive original equipment manufacturers (OEMs) who purchase products like graphite electrodes, specialty chemicals, and construction materials. Therefore, it is not possible to list specific major customer companies and their symbols, as BBUC's revenue is generated from thousands of customers across its extensive portfolio of businesses.AI Analysis | Feedback
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Anuj Ranjan, Chief Executive Officer
Anuj Ranjan joined Brookfield Asset Management in 2006 and leads its global private equity group, also serving as a managing partner of the parent company. As CEO of Brookfield Business Partners, he is responsible for the investments, operations, and expansion of the Private Equity business. His leadership is characterized by strategic foresight and operational expertise, focusing on acquiring and operationally transforming businesses. He has held several senior roles across the organization, including CEO of Brookfield's Private Equity business.
Jaspreet Dehl, Chief Financial Officer
Jaspreet Dehl was appointed Chief Financial Officer of Brookfield Business Partners in September 2018. She is also a Managing Partner in Brookfield's Private Equity Group. Ms. Dehl joined Brookfield in 2011 and has since held various senior finance positions within Brookfield's Private Equity and Private Funds groups. Before her tenure at Brookfield, she was part of the financial advisory services practice at Deloitte, where she specialized in corporate restructuring services and transaction execution services for private equity clients. This background demonstrates a pattern of managing companies backed by private equity firms.
Cyrus Madon, Executive Chairman
Cyrus Madon has served as the Executive Chairman of Brookfield Business Partners since February 2024. He joined Brookfield in 1998 and is a Managing Partner of Brookfield Asset Management Ltd. and Executive Chairman of Brookfield's Private Equity Group. In this capacity, he is responsible for developing strategy and providing investment oversight, review, and approval, working alongside the CEO. Mr. Madon previously held the role of CEO of Brookfield's Private Equity business.
Adrian Letts, Managing Partner of Private Equity & Head of Global Business Operations
Adrian Letts serves as a Managing Partner of Private Equity and is the Head of Brookfield Business Partners' Global Business Operations team. He provides updates on the progress of the company's recent acquisitions.
Alan Matthew Fleming, Managing Partner of Private Equity & Managing Director of Investor Relations
Alan Matthew Fleming is a Managing Partner of Private Equity and the Managing Director of Investor Relations for Brookfield Business Corporation. In his role, he is responsible for cultivating and maintaining strong relationships with the company's diverse investor base, communicating Brookfield's strategic direction, financial performance, and growth opportunities.
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Key Risks to Brookfield Business (BBUC)
- Persistent Net Losses and Lack of Visible Profit Growth Drivers: Brookfield Business (BBUC) has experienced persistent net losses and a lack of clear drivers for profit growth, which poses a significant risk to its valuation and financial performance. Recent financial reports indicate a drop in sales and widening net losses, suggesting ongoing financial headwinds.
- Holding Lower-Quality Assets and Complex Corporate Structure: BBUC is noted to hold lower-quality assets, and its intricate corporate structure, along with discretionary asset allocation by Brookfield, may result in BBUC acquiring less attractive investments compared to Brookfield Business Partners (BBU). This raises concerns about the potential for future returns and the quality of its investment portfolio.
- Significant Debt Load and Financial Stress within Portfolio Companies: The company faces risks associated with a substantial on-balance-sheet debt load and potential off-balance-sheet liabilities. Furthermore, its portfolio is heavily weighted with companies that have "deep junk" credit ratings, indicating a heightened risk of default. Recent investment failures, such as Healthscope and Altera Investment, underscore these financial vulnerabilities.
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Brookfield Business (symbol: BBUC) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, operational enhancements, capital recycling, and organic growth within key segments.
Here are 3-5 expected drivers of future revenue growth:
- Strategic Acquisitions: Brookfield Business actively pursues and completes strategic acquisitions to expand its portfolio and enhance revenue. The company recently completed the acquisition of a Canadian residential and multi-family mortgage lender, and has invested in other strategic growth acquisitions, such as First National Financial. This strategy of integrating new businesses into its operations is a significant driver for future revenue.
- Operational Enhancements and AI Implementation: The company is focused on enhancing the operational performance of its existing businesses and leveraging technology for efficiency. Brookfield Business aims for continued AI-driven productivity improvements and operational efficiencies across its portfolio. This focus is intended to optimize current assets and drive increased earnings and cash flows.
- Capital Recycling and Reinvestment: Brookfield Business employs a strategy of capital recycling, generating funds from its capital recycling program and reinvesting this capital into strategic growth initiatives and acquisitions. This continuous process allows the company to reallocate capital to higher-growth opportunities and further expand its operations.
- Organic Growth in Key Segments: Certain segments within Brookfield Business's portfolio are expected to contribute to organic revenue growth. For instance, the advanced energy storage operation has shown strong performance driven by growing demand, increased volumes of advanced batteries, and a positive shift towards higher-margin products. Similarly, the residential mortgage insurance segment continues to benefit from resilient demand, including from first-time homebuyers. These specific areas of strength within existing businesses are anticipated to drive revenue expansion.
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Share Repurchases
- Brookfield Business Corporation (BBUC) renewed its share repurchase program in August 2025, authorizing the buyback of up to 3,499,836 exchangeable shares, representing 5% of outstanding securities, through August 2026.
- Under a previous normal course issuer bid from August 2024 to August 2025, BBUC repurchased a total of 2,957,523 Exchangeable Shares at a weighted average price of US$25.93 per share.
- In the first quarter of 2025, BBUC repurchased $33 million in exchangeable shares.
Share Issuance
- No significant share issuances for capital raising by Brookfield Business Corporation were identified within the last 3-5 years. The number of shares outstanding for BBUC decreased by 4.05% in one year.
Inbound Investments
- No significant third-party inbound investments directly into Brookfield Business Corporation were identified within the last 3-5 years.
Outbound Investments
- In July 2022, Brookfield Business Corporation, along with institutional partners, completed the acquisition of CDK Global for a total consideration of $8.3 billion.
- BBU invested $146 million for an 11% interest in the privatization of First National Financial Corporation, a Canadian residential and multi-family mortgage lender, which was completed in October 2025.
- In the second quarter of 2025, BBU invested $300 million to acquire two market-leading businesses.
Capital Expenditures
- Brookfield Business Corporation's capital expenditures were -$274.00 million in the last 12 months leading up to November 2025.
- Capital expenditures for property, plant, and equipment and intangible assets amounted to -$10 million in the first quarter of 2025.
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| ARTICLES |
Trade Ideas
Select ideas related to BBUC. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 13.5% | 13.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 3.1% | 3.1% | -0.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.7% | -4.7% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 6.7% | 6.7% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -10.3% | -10.3% | -12.1% |
Research & Analysis
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Peer Comparisons for Brookfield Business
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 143.08 |
| Mkt Cap | 82.5 |
| Rev LTM | 9,549 |
| Op Inc LTM | 426 |
| FCF LTM | 3,652 |
| FCF 3Y Avg | 3,161 |
| CFO LTM | 3,757 |
| CFO 3Y Avg | 3,296 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.2% |
| Rev Chg 3Y Avg | 8.8% |
| Rev Chg Q | 7.4% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Mgn LTM | 2.5% |
| Op Mgn 3Y Avg | 7.4% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 31.5% |
| CFO/Rev 3Y Avg | 30.3% |
| FCF/Rev LTM | 30.4% |
| FCF/Rev 3Y Avg | 24.7% |
Price Behavior
Price Behavior
| Market Price | $35.94 | |
| Market Cap ($ Bil) | 2.5 | |
| First Trading Date | 03/04/2022 | |
| Distance from 52W High | -3.8% | |
| 50 Days | 200 Days | |
| DMA Price | $34.94 | $31.01 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 2.8% | 15.9% |
| 3M | 1YR | |
| Volatility | 42.4% | 39.8% |
| Downside Capture | 167.11 | 92.36 |
| Upside Capture | 135.21 | 120.88 |
| Correlation (SPY) | 53.8% | 59.1% |
BBUC Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.71 | 1.75 | 1.83 | 1.55 | 1.21 | 1.35 |
| Up Beta | 4.08 | 3.84 | 3.77 | 2.52 | 1.23 | 1.28 |
| Down Beta | 3.70 | 1.82 | 1.53 | 1.83 | 1.39 | 1.35 |
| Up Capture | 39% | 113% | 133% | 117% | 116% | 261% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 11 | 22 | 35 | 74 | 134 | 356 |
| Down Capture | 104% | 117% | 146% | 107% | 101% | 107% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 8 | 19 | 27 | 51 | 113 | 390 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
nullBased On 5-Year Data
nullBased On 10-Year Data
nullReturns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 6-K 9/30/2025 |
| 6302025 | 8082025 | 6-K 6/30/2025 |
| 3312025 | 5062025 | 6-K 3/31/2025 |
| 12312024 | 4012025 | 20-F 12/31/2024 |
| 9302024 | 11132024 | 6-K 9/30/2024 |
| 6302024 | 8082024 | 6-K 6/30/2024 |
| 3312024 | 5072024 | 6-K 3/31/2024 |
| 12312023 | 3012024 | 20-F 12/31/2023 |
| 9302023 | 11072023 | 6-K 9/30/2023 |
| 6302023 | 8092023 | 6-K 6/30/2023 |
| 3312023 | 5092023 | 6-K 3/31/2023 |
| 12312022 | 3172023 | 20-F 12/31/2022 |
| 9302022 | 11072022 | 6-K 9/30/2022 |
| 6302022 | 8052022 | 6-K 6/30/2022 |
| 3312022 | 5132022 | 6-K 3/31/2022 |
| 12312021 | 3302022 | 20-F 12/31/2021 |
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