BAMHIGH SIGNALFINANCIAL10-K

BAM underwent massive financial expansion with assets growing 289% to $17B and net income surging 343% to $2.4B, accompanied by a dramatic 13,092% increase in cash position.

This represents a transformational period for BAM, likely driven by major acquisitions, fund raising, or business model changes that fundamentally altered the company's scale and operations. The massive cash increase and corresponding liability growth suggest significant capital market activity or asset management expansion that investors need to understand thoroughly.

Comparing 2026-03-02 vs 2025-03-17View on EDGAR →
FINANCIAL ANALYSIS

BAM experienced explosive growth across virtually all financial metrics, with assets nearly quadrupling to $17B, net income surging over 300% to $2.4B, and cash exploding from $12M to $1.6B - a staggering 13,092% increase. While revenue grew a more modest 21% to $4.8B, the company dramatically increased dividend payments by 347% to $2.8B and operating cash flow more than tripled to $2.1B. The simultaneous 508% increase in total liabilities to $6.7B alongside the asset growth suggests major capital raising or acquisition activity that fundamentally transformed BAM's business scale and financial profile.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+13091.7%
$12.0M→$1.6B

Cash position surged 13091.7% — strong cash generation or capital raise providing significant financial cushion.

Total Liabilities
Balance Sheet
+508%
$1.1B→$6.7B

Liabilities grew 508% — significant increase in debt or obligations, assess impact on financial flexibility.

Dividends Paid
Cash Flow
+347.3%
$630.0M→$2.8B

Dividend payments increased 347.3% — management confidence in sustained cash generation.

Net Income
P&L
+343.3%
$541.0M→$2.4B

Net income grew 343.3% — bottom-line growth signals improving overall business health.

Total Assets
Balance Sheet
+288.7%
$4.4B→$17.0B

Asset base grew 288.7% — expansion through organic growth, acquisitions, or capital deployment.

Operating Cash Flow
Cash Flow
+235.1%
$627.0M→$2.1B

Operating cash flow surged 235.1% — exceptional cash generation, highest quality earnings signal.

Stockholders Equity
Balance Sheet
+56.4%
$2.1B→$3.2B

Equity base grew 56.4% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Interest Income
P&L
-31.5%
$143.0M→$98.0M

Net interest income declined 31.5% — margin compression from rate changes or funding cost increases.

Revenue
P&L
+21%
$4.0B→$4.8B

Revenue growing 21% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2026-03-02
PRIOR — 2025-03-17
ADDED
As of February 23, 2026, the registrant had 1,638,147,590 Class A Limited Voting Shares and 21,280 Class B Limited Voting Shares outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 49 Item 7A.
Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management s current estimates, beliefs and assumptions regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Asset Management Ltd.
( BAM ) and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances.
The estimates, beliefs and assumptions of BAM are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change.
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REMOVED
As of March 7, 2025, the registrant had 1,637,295,707 Class A Limited Voting Shares and 21,280 Class B Limited Voting Shares outstanding.
( BAM ) is a New York based asset manager, yet qualifies as an eligible Canadian issuer under the Multijurisdictional Disclosure System and as a foreign private issuer as such term is defined in Rule 405 under the U.S.
Securities Act of 1933, as amended, and Rule 3b-4 under the U.S.
Although, as a foreign private issuer, BAM is not required to do so, BAM intends to voluntarily file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K with the SEC instead of filing the reporting forms available to foreign private issuers.
BAM intends to prepare and file a management information circular and related materials under Canadian requirements that will not be filed pursuant to Regulation 14A.
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