Latest Ratios: P/E Ratio 17.6x · EV/EBITDA 5.3x · ROE 5.0%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.6B | $14.0B | $6.6B | $3.9B | $645M | $1.4B | — | — |
| Enterprise Value | $7.3B | $6.7B | $-1113899581 | $3.3B | $2.3B | $1.7B | — | — |
| P/E Ratio → | 17.60 | 18.38 | 5.43 | 4.92 | 1.52 | — | — | — |
| P/S Ratio | 1.24 | 1.18 | 0.46 | 0.56 | 0.15 | 1.39 | — | — |
| P/B Ratio | 0.75 | 0.78 | 0.50 | 0.44 | 0.15 | 1.00 | — | — |
| P/FCF | 5.65 | 5.41 | 1.45 | 2.85 | 1.04 | 0.85 | — | — |
| P/OCF | 5.50 | 5.27 | 1.44 | 2.60 | 1.00 | 0.85 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.56 | -0.08 | 0.48 | 0.53 | 1.68 | — | — |
| EV / EBITDA | 5.34 | 4.88 | -0.78 | 3.88 | 4.23 | — | — | — |
| EV / EBIT | 7.43 | 4.88 | -0.71 | 3.15 | 3.62 | — | — | — |
| EV / FCF | — | 2.58 | -0.25 | 2.44 | 3.71 | 1.03 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.4% | 61.4% | 20.4% | 15.6% | 14.5% | -8.2% | 1.6% | 100.0% |
| Operating Margin | 8.3% | 8.3% | 8.5% | 11.7% | 12.2% | -10.9% | 0.4% | 1.6% |
| Net Profit Margin | 6.6% | 6.6% | 8.5% | 11.4% | 11.4% | -10.8% | 0.2% | 1.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 5.0% | 5.0% | 11.1% | 12.1% | 17.5% | -14.8% | 1.3% | 9.2% |
| ROA | 0.5% | 0.5% | 1.2% | 1.5% | 1.8% | -1.7% | 0.1% | 0.6% |
| ROIC | 9.3% | 9.3% | 13.3% | 8.6% | 10.4% | -9.5% | 3.0% | — |
| ROCE | 0.7% | 0.7% | 1.2% | 1.5% | 1.9% | -1.7% | 0.2% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.32 | 0.35 | 0.42 | 0.89 | 0.48 | 0.02 | 0.00 |
| Debt / EBITDA | 4.15 | 4.15 | 3.20 | 4.33 | 6.98 | — | 0.62 | 0.03 |
| Net Debt / Equity | — | -0.41 | -0.59 | -0.06 | 0.39 | 0.21 | -0.41 | -0.20 |
| Net Debt / EBITDA | -5.35 | -5.35 | -5.43 | -0.65 | 3.04 | — | -16.88 | -2.12 |
| Debt / FCF | — | -2.83 | -1.70 | -0.41 | 2.67 | 0.18 | -0.08 | -0.04 |
| Interest Coverage | 3.55 | 3.55 | 4.35 | 4.27 | 6.12 | -112.00 | — | — |
Net cash position: cash ($13.0B) exceeds total debt ($5.7B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | — | — | — | — |
| Quick Ratio | — | — | — | — | — | — | — | — |
| Cash Ratio | — | — | — | — | — | — | — | — |
| Asset Turnover | — | 0.08 | 0.10 | 0.11 | 0.10 | 0.09 | 0.36 | 0.41 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 0.1% | 0.9% | 0.6% | — | — |
| Payout Ratio | — | — | — | 0.6% | 1.2% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.7% | 5.4% | 18.4% | 20.3% | 65.9% | — | — | — |
| FCF Yield | 17.7% | 18.5% | 68.7% | 35.0% | 96.1% | 117.3% | — | — |
| Buyback Yield | 0.8% | 0.8% | 0.2% | 0.1% | 0.9% | 0.6% | — | — |
| Total Shareholder Yield | 0.8% | 0.8% | 0.2% | 0.3% | 1.8% | 1.1% | — | — |
| Shares Outstanding | — | $305M | $172M | $145M | $31M | $34M | $28M | $28M |
Underwriting and Investment Volatility
As reported in recent financial statements, BNT trades at a P/B of 0.73, which suggests that the market applies a significant discount to the company's book value, likely reflecting investor skepticism regarding the transparency of its alternative-asset-heavy investment portfolio and the complexity of its paired-share structure.
The current P/B multiple of 0.73 sits at the lower end of the peer range, implying that investors are not yet assigning a premium for the Brookfield-managed investment funnel. This valuation warrants further investigation, as it may suggest that the market views the potential for fee leakage to the parent entity as a persistent drag on long-term shareholder value.
Based on quarterly data, BNT's combined ratio reached 138.8% in 2026Q1, indicating that underwriting costs significantly outpaced premium income, a sharp reversal from the more efficient 75.7% combined ratio observed in 2025Q3, which highlights the inherent volatility in the company's current underwriting and reinsurance treaty performance.
The extreme fluctuation in the combined ratio suggests that BNT's underwriting profitability is highly sensitive to the timing of large-block transactions and potential reserve adjustments. Investors should monitor whether these periodic spikes in the loss ratio represent temporary accounting noise or a fundamental deterioration in the quality of the underlying insurance liabilities.
According to historical balance sheet figures, the company's equity-to-total-assets ratio has compressed significantly as total liabilities surged to $139.2 billion in 2026Q1, suggesting that BNT is utilizing higher financial leverage to support its aggressive acquisition-led growth strategy in the pension risk transfer market.
While the current leverage profile appears manageable, the rapid accumulation of long-term benefit obligations necessitates a disciplined approach to capital allocation. The company's ability to maintain its solvency ratios under increased regulatory scrutiny from the Bermuda Monetary Authority remains a critical factor for long-term stability.
As noted in regulatory filings, the return on equity (ROE) is frequently misapplied to BNT, as the metric is heavily distorted by unrealized gains and losses on alternative assets, which obscures the true underlying profitability of the insurance underwriting operations and the sustainability of the float-based model.
Investors should instead focus on the underwriting margin and the spread between investment yields and policyholder crediting rates to assess true performance. Relying on headline ROE may lead to an inaccurate assessment of the company's operational health, as it fails to account for the volatility inherent in the Brookfield-managed investment portfolio.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying BNT stock.
Brookfield Wealth Solutions Ltd.'s current P/E ratio is 17.6x. The historical average is 7.6x. This places it at the 75th percentile of its historical range.
Brookfield Wealth Solutions Ltd.'s current EV/EBITDA is 5.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.3x.
Brookfield Wealth Solutions Ltd.'s return on equity (ROE) is 5.0%. The historical average is 5.9%.
Based on historical data, Brookfield Wealth Solutions Ltd. is trading at a P/E of 17.6x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Brookfield Wealth Solutions Ltd. has 61.4% gross margin and 8.3% operating margin.
Brookfield Wealth Solutions Ltd.'s Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.