ValueScreener company report

Brookfield Asset Management Ltd. (BAM)

Name: Brookfield Asset Management Ltd. (BAM) filed financial figures
Creator: ValueScreener

NYSE / Financial Services / Asset Management

Share price

45.98 USD Market dataClose of Oct 15, 2026

Market capitalisation

73.44B USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Mar 2, 2026
Ratios computed: Oct 15, 2026
Filed years: 3, FY2023 to FY2025

Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means

SEC filingFiled with the SEC: Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement: What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data: Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener: Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.

Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Quality

Return on invested capital, after tax

n/m Computed

From the FY2025 filing

Why n/m

Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.

Read quality

Financial strength

Debt to equity

n/a Computed

From the FY2025 filing

Why n/a

No shareholders equity line is filed for this year.

Read financial strength

Valuation

Price to earnings

30.63x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

3.8% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

Revenue Net income7 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.

Named tests met: 0 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 30.63x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Asset Management industry (50 companies), 30.63x sits at the 66th percentile; the middle half of that group runs from 10.90x to 57.94x.

Is it good

Return on equity for Brookfield Asset Management Ltd. in FY2025: n/a. No shareholders equity line is filed for this year.

Year by year against peers: Whether Brookfield Asset Management Ltd.'s free cash flow margin stayed above the median of the Financial Services sector, year by year. (FY2023 to FY2025, 3 fiscal years of Brookfield Asset Management Ltd. with a comparable figure)
The direction: Which way Brookfield Asset Management Ltd.'s free cash flow margin has moved, and how steadily. (FY2019 to FY2025, 7 filed years of Brookfield Asset Management Ltd.)
What could explain it: What in Brookfield Asset Management Ltd.'s filed statements could explain the movements. (2 readings drawn from the statement lines Brookfield Asset Management Ltd. filed)
What to check next: What to check next on Brookfield Asset Management Ltd., and where in its filings. (1 question for Brookfield Asset Management Ltd.)
In one paragraph: One paragraph on Brookfield Asset Management Ltd.'s returns, cash, balance sheet and price. (4 of sixteen figures read for Brookfield Asset Management Ltd.)

These are BAM’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research BAMPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 2, 2026, accession 0001628280-26-013098.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Brookfield Asset Management Ltd: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/m Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.	n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Return on equity Why n/a No shareholders equity line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Return on capital employed, pre-tax Why n/m Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.	n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Return on assets	14.1% ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Gross margin Why n/a Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Operating margin Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Net margin	49.8% ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098

BAM 49.8%

20.9%49.8%

Net margin: BAM against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Brookfield Asset Management Ltd: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity Why n/a No shareholders equity line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Current ratio Why n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Quick ratio Why n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Interest coverage Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Altman Z-score Why n/m Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Net debt Why n/a The FY2025 balance sheet carries no net debt we could read.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What Brookfield Asset Management Ltd owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 2, 2026, 0001628280-26-013098).

Brookfield Asset Management Ltd: balance sheet position
Total assets	17.05B FiledFY2025 10-K, filed Mar 2, 2026
Total liabilities	6.74B FiledFY2025 10-K, filed Mar 2, 2026
Shareholders' equity	n/a FiledFY2025 10-K, filed Mar 2, 2026
Cash	1.58B FiledFY2025 10-K, filed Mar 2, 2026
Total debt	n/a FiledFY2025 10-K, filed Mar 2, 2026
Net debt	n/a
Current ratio	n/a
Debt to equity	n/a

Shareholders' equity: The 2025 balance sheet files equity only as one total for the parent's shareholders and the minority holders together (8.91bn). The parent's share is not filed on its own, so equity, debt against equity and return on equity are left blank rather than divided by money that belongs to other owners.
Debt to equity: FY2025: No shareholders equity line is filed for this year.
Current ratio: FY2025: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Interest cover: FY2025: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Brookfield Asset Management Ltd: what the market charges, each with its source
Figure	Value, source and document
Price to earnings	30.63x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
P/E on trailing twelve months Why n/a A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.	n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Price to sales	15.25x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Enterprise value to EBIT Why n/m Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Enterprise value to EBITDA Why n/m Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Price to earnings over growth Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Diluted earnings per share Why n/a The FY2025 filing carries no diluted earnings per share we could read.	n/a FiledFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Graham number Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098

We publish no fair value or price target of our own. Value BAM on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Brookfield Asset Management Ltd today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Brookfield Asset Management Ltd: valuation
Share price	45.98 USD
Market capitalisation	73.44B USD
Enterprise value to EBITDA	n/m
Graham number	n/a
Diluted earnings per share, FY2022	n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Brookfield Asset Management Ltd

Same industry (Asset Management) and size band (Large, 10B to 200B), nearest in market value and net margin. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Brookfield Asset Management Ltd: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield Why n/m For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Free cash flow	2.09B USD ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Free cash flow margin Why n/m For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.	n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Dividend yield	3.8% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Payout ratio	117.5% ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098

Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Brookfield Asset Management Ltd.: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	30.63x	FY2025	Oct 15, 2026
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed balance sheet reports no shareholders equity.
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/m	FY2025	Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/m	FY2025	Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/m	FY2025	Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	3.8%	FY2025	Oct 15, 2026
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/a	FY2025	Mar 2, 2026
n/a No shareholders equity line is filed for this year.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/a	FY2025	Mar 2, 2026
n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	15.25x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed income statement reports no earnings per share.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/m	FY2025	Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/m	FY2025	Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab
	n/m	FY2025	Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tabForm10-KFiledMar 2, 2026PeriodFY2025Accession0001628280-26-013098What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-013098, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 3 filed fiscal years on record, FY2023 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

7 fiscal years, FY2019 to FY2025. 3 read from the annual reports Brookfield Asset Management Ltd filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Brookfield Asset Management Ltd: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	4.82B	n/a	2.40B	n/a	2.09B	n/a	n/a	10-K, Mar 2, 20260001628280-26-013098
FY2024	3.98B	n/a	2.11B	n/a	1.60B	n/a	24.1%	10-K, Mar 17, 20250001937926-25-000007
FY2023	4.06B	2.56B	2.14B	n/a	1.42B	n/a	102.9%	40-F, Mar 19, 20240001937926-24-000004
FY2022	3.63B	2.85B	1.92B	4.83	-387.0M	78.5%	80.6%	Market data, supplied Oct 15, 2026accession n/a
FY2021	2.79B	2.07B	1.87B	4.64	1.41B	74.1%	19.1%	Market data, supplied Oct 15, 2026accession n/a
FY2020	2.15B	1.24B	382.0M	0.99	1.77B	57.8%	4.2%	Market data, supplied Oct 15, 2026accession n/a
FY2019	2.17B	1.22B	1.91B	n/a	1.43B	56.0%	n/a	Market data, supplied Oct 15, 2026accession n/a

Revenue, compound annual growth FY2019 to FY2025: 14.2%
Earnings, compound annual growth FY2019 to FY2025: 3.8%
Earnings per share, compound annual growth FY2020 to FY2022: 120.9%
Free cash flow, compound annual growth FY2019 to FY2025: 6.5%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Brookfield Asset Management Ltd: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score Why n/m The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.	n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Piotroski F-score Why n/m 2 of the nine Piotroski signals are undefined for a capital markets firm: signal 6 (rising current ratio), signal 8 (rising gross margin). We do not publish a partial score under the full score's name.	n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001628280-26-013098
Named tests met	0 of 30 Computed
Beta	1.33 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 10 not met, 20 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: None of the named tests.
Does not: Large cap, low P/E; Gross margin, turnover (Robert Novy-Marx); High yield, low payout; Low beta, profitable; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff)
Not measured: Defensive investor (Benjamin Graham); Deep value; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; Dividends and buybacks; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; Book or below, low debt (Walter Schloss); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/B (David Dreman). A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(24)

Current Ratio: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Debt to Equity: No shareholders equity line is filed for this year.
Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
P/B Ratio: We do not hold this figure for this company, so there is nothing to show.
Piotroski F-Score: 2 of the nine Piotroski signals are undefined for a capital markets firm: signal 6 (rising current ratio), signal 8 (rising gross margin). We do not publish a partial score under the full score's name.
EV/EBIT: Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.
Return on Invested Capital: Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.
Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
Beneish M-Score: The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.
PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
Return on Equity: No shareholders equity line is filed for this year.
Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
EV/EBITDA: Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.
Interest Coverage: No operating income line is filed for this year.
Free Cash Flow Yield: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
ROIC-WACC Spread: Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.
Price To Ncav: Net current asset value needs current assets, which an unclassified balance sheet does not report.
Price To Graham: We do not hold this figure for this company, so there is nothing to show.
Owner Earnings Yield: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
Capex To Ocf: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
Dividend Coverage Ratio: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

Value it in the DCF workbench

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

24 figures could not be read on this company, among them Current Ratio, Debt to Equity, Positive Earnings Streak. Each blank in the table above names the rest, with its reason. 20 named tests come back incomplete because of them, which is neither met nor missed.
We hold 3 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

Monitor my portfolio How this is computed

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, by fiscal year

The reading, in brief

Financial health

Valuation

Companies like Brookfield Asset Management Ltd

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes