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Earnings

Partners Value Investments Inc. Announces 2025 Annual Results

By The Northwire Desk — AI Analysis Mar 25, 2026 · 21:00 BAM · 60.39 BROOKFIELD ASSET MANAGEMENT LTD. CL A LV
BAM · Price

Executive Summary

  • Partners Value Investments Inc. reported a net loss of $1.418 billion for FY 2025, an improvement from the $3.788 billion loss in FY 2024.
  • Adjusted Earnings (non‑IFRS) were $66 million, down 46% year‑over‑year, driven by foreign‑currency effects and higher preferred‑share dividends.
  • The Company’s investment portfolio grew to $11.522 billion of assets, highlighted by an 8% stake in Brookfield Corporation (BN) and a 2% stake in Brookfield Asset Management Ltd. (BAM).

Key Details

  • Net Loss: $(1,418,790) k (2025) vs. $(3,787,773) k (2024).
  • Adjusted Earnings: $66,117 k (2025) vs. $122,420 k (2024).
  • Primary Drivers of Net Loss Reduction:
  • Retractable common‑share remeasurement loss: $(1,255,025) k (2025) vs. $(3,575,080) k (2024).
  • Exchangeable‑share remeasurement loss: $(60,527) k (2025) – none in 2024.
  • Warrant liability remeasurement loss: $(138,812) k (2025) vs. $(306,473) k (2024).
  • Dividends Paid on Retractable Shares: $30,543 k (2025) vs. $28,640 k (2024).
  • Operating Expenses: $(3,677) k (2025) vs. $(5,553) k (2024).
  • Financing Costs: $(40,403) k (2025) vs. $(38,777) k (2024).
  • Preferred‑Share Dividends: $(37,134) k (2025) vs. $(33,399) k (2024).
  • Investment Income (Dividends + Other): $145,236 k (2025) vs. $127,035 k (2024).

Balance Sheet Highlights (as of 31‑Dec‑2025)

  • Cash & Cash Equivalents: $376,523 k (up from $156,952 k).
  • Investment in Brookfield Corp.: $8,326,947 k (181 M BN shares @ $45.89).
  • Investment in Brookfield Asset Management Ltd.: $1,352,078 k (26 M BAM shares @ $52.39).
  • Total Assets: $11,522,331 k (↑ 15%).
  • Total Liabilities & Equity: $11,522,331 k.

Share‑Price Context

  • BN share price: $45.89 (31‑Dec‑2025) → $39.91 (25‑Mar‑2026).
  • BAM share price: $52.39 (31‑Dec‑2025) → $43.69 (25‑Mar‑2026).

Non‑IFRS Reconciliation (Adjusted Earnings)

2025 ($k) 2024 ($k)
Net loss attributable to Company (1,418,790) (3,787,773)
Add: Retractable common‑share remeasurement gain 1,255,025 3,575,080
Add: Exchangeable‑share remeasurement gain 60,527 —
Add: Warrant liability remeasurement gain 138,812 306,473
Add: Dividends paid on retractable shares 30,543 28,640
Adjusted Earnings 66,117 122,420

Notable Quotes

No direct executive quotes were included in the release.

Read the original news release →

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