Research memoBrookfield Corporation (BN.TO) · TSXMemo of October 11, 2026

Brookfield stock forecast

Brookfield’s weighted forecast is 65.47 in October 2027 and 92.17 in October 2029, with 25% probability to bear, 55% to base and 20% to bull. It hinges on turning committed capital, insurance growth and unrealized value into durable per-share earnings and cash.

52.95
Share price today, CAD
92.17 (+77 %)
Weighted scenario, October 2029
13.8x
P/E, next 12 months
2.0x
Price to book
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Every number traced to Brookfield's filings8 chapters · 18,067 words201 sources cited

Where could Brookfield’s shares be by 2029?

The forecast’s central outcome is a gradual rerating supported by rising NAV per share. The weighted price is 65.47 in October 2027, including dividends, for a 24% return from today’s 52.95. It reaches 78.16 in October 2028, equal to a 49% return. By October 2029, the weighted price is 92.17, equal to a 77% return.

The 2029 range is 44.28 to 144.13. Today’s price is 52.95. The probabilities are 25% for bear, 55% for base and 20% for bull, reflecting stronger evidence for moderate growth than for either a severe setback or a near-complete discount closure.

Share price in October 2029: our three scenarios (CAD)Today 37.21977794505081544.28Bear · 25 % · -14%95.05Base · 55 % · +82%144.13Bull · 20 % · +175%
What the shares could be worthCAD per BN.TO share at each date; in brackets the return since today's 52.95, dividends included
CaseProbabilityOctober 2027October 2028October 2029
Bear25 %46.88 (-11 %)45.14 (-13 %)44.28 (-14 %)
Base55 %66.90 (+27 %)79.99 (+53 %)95.05 (+82 %)
Bull20 %84.79 (+61 %)114.41 (+118 %)144.13 (+175 %)
Weighted100 %65.47 (+24 %)78.16 (+49 %)92.17 (+77 %)

What has to go right or wrong for Brookfield?

Faster deployment, profitable insurance growth and realized carry would support the base or bull case. Delayed exits, refinancing pressure or weaker private marks would move the outlook toward bear. Brookfield’s Q3 2026 results call is scheduled for November 12, 2026. The company expects to move to U.S. GAAP from January 1, 2027. The investment case rests on turning committed capital, insurance growth and unrealized value into durable per-share earnings and cash.

How much cash does Brookfield really make?

Finally, the parent consumes cash. Corporate operating FFO was negative US$530 million over the twelve months ended June 2026, including US$747 million of corporate borrowing interest. Brookfield must show that reinvestment, acquisitions and buybacks increase realizable cash earnings per share after those claims.

What does an investor pay for Brookfield today?

The usual P/E, or price-to-earnings ratio, needs care here. Accounting profit can fall when an office building’s estimated value declines even though tenants keep paying rent. It can also rise when Brookfield sells an investment for a gain that will not recur. Distributable earnings, or DE, is intended to show earnings more closely connected to usable cash. DE before realizations was US$2.39 per share for the twelve months ended June 2026, while realized carried interest added US$520 million. A low P/E is less persuasive when its denominator contains unusual sale profits.

What an investor pays todayC$ millions; per share in C$
Today (Oct 11, 2026)
Share price52.95
Market value (every class) (calculated)118,203.01
Price to book (calculated)2.0x
P/E on operating earnings, last 12 months (calculated)15.6x
P/E, next 12 months (calculated)13.8x
Dividend yield (calculated)0.8%
From the full memo · 1. The business

Brookfield Corporation (BN) owns businesses that customers pay to use and an investment manager that investors pay to manage their money. To understand how a dollar moves through Brookfield, follow it from the customer or investor to the business, then through costs, lenders and outside owners before asking what remains for BN.

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