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Berkshire Hathaway (BRK.B) stock

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NYSE: BRK.B NYSE Multi-Sector Holdings Next results ~November 7, 2026

Berkshire Hathaway is a holding company, domiciled in Delaware with its headquarters in Omaha, Nebraska, that owns subsidiaries across many different industries. Its principal operations are insurance, conducted on both a primary and a reinsurance basis, freight rail transport, and utility and energy generation and distribution. It also runs a range of manufacturing, services and retailing businesses.

The insurance arm, which includes GEICO, the Berkshire Hathaway Primary Group and the Berkshire Hathaway Reinsurance Group, earns premiums by covering property, casualty, life and health risks for individuals, businesses and other insurers worldwide; GEICO mainly sells private passenger car cover directly by internet and telephone. Freight rail, operated by BNSF Railway, charges customers to move consumer, industrial, agricultural, energy and coal products. Berkshire Hathaway Energy runs regulated electricity and gas utilities and pipelines, earning regulated tariffs from retail customers.

The group is managed on an unusually decentralised basis, with subsidiaries run independently. GEICO is the third-largest US private passenger car insurer. At the end of 2025 Berkshire and its subsidiaries employed about 387,800 people worldwide, roughly 80% of them in the United States.

Based on Berkshire Hathaway's 10-K filed March 2, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$830

Valuation models combined (4)

Base case. Range ~$690–$900. Weighted average of 4 models (residual income, justified price-to-book, price-to-book vs return on equity (peers), price-to-book vs peers), the residual income counting double.

Price vs value

Undervalued

The price is below our entire value range; our base value is 49% above it.

Price used: $557.14, November 3, 2026

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Berkshire Hathaway files

Where Berkshire Hathaway stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $384.7bn, up 3.9% on a year earlier, faster than 1.1% a quarter earlier. Our valuation models combined value is $436 a share, against a share price of $538.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 7, 2026 (estimated)

Berkshire Hathaway's trailing-twelve-month revenue grew 3.9% year on year, with a free-cash-flow margin of 6.3%.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 194.4% while net income grew 36.3%: a 158pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

  • Priced below our value. The share price of $556.11 is 49% below our value per share of $830.
  • Net cash. Cash exceeds long-term debt by $41.4bn.

Things to watch

  • Weak cash conversion. Free cash flow was 28% of net income over the last 12 months.
  • Below peers: revenue growth. Revenue growth of 3.9% ranks 437 of 560 financials companies we cover (median 11.5%).
  • Earnings expected to fall. The consensus expects earnings per share to fall 0% next year.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$6.03 against an average estimate of $5.13: beat by 17.4%
Revenue
$101.81bn, up 10.0% on a year earlier
Share reaction
-3.7% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Next report
November 7, 2026; average EPS estimate $6.14

Berkshire Hathaway's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.2%
  • 1 week+2.6%
  • 1 month+10.8%
  • This year+10.6%
  • 1 year+17.1%
  • 5 years+93.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$385B
Net margin
22.3%

Growth

Revenue growth
+3.9%
Change in growth rate
+2.8 pts

Earnings

Last results
August 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$830
Price used
$557.20close November 3, 2026
Implied change
▲ +49%
Uncertainty
Low

How we got here: the combined value of 4 valuation models built for a business like Berkshire Hathaway (see the models table below and how they are combined) , with a 7.58% cost of equity. The models span ~$690–~$900; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Berkshire Hathaway as an insurer, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.59 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$860 ~$550–$1400 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$900 ~$740–$1200 Included
Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. ~$820 ~$460–$1200 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$690 ~$610–$1200 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$220 ~$200–$290 Left out: far from the other models (more than 3x away from their median)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: pays no regular dividend
Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$830 ~$690–$900 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Berkshire Hathaway with property, casualty and specialty insurers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

46 /100

Moderate moat

How hard Berkshire Hathaway's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Net income has been a median 5.8% of total assets over 10 years.

  • Durability 8 / 20

    Net margin has been a median 17.7%; its worst year was 4.2%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (51 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 7, 2026, after the close. Analysts expect EPS of $6.14 (range $5.84 to $6.43) for the quarter.

Analysts' consensus

Berkshire Hathaway: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current $22.47 +9% $391.8bn +6%
Next $22.43 −0% $424.8bn +8%

Next year's EPS estimate has moved +4.3% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +8.0% on 90 days ago. In the last 30 days, 3 analysts raised Berkshire Hathaway's forecast and 0 cut it.

Consensus EPS forecast Berkshire Hathaway, last 90 days
$20.50 $21.00 $21.50 $22.00 $22.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $20.80 Current fiscal year, 60 days ago: $22.25 Current fiscal year, 30 days ago: $22.25 Current fiscal year, 7 days ago: $21.59 Current fiscal year, Now: $22.47 $22.47 Next fiscal year, 90 days ago: $21.51 Next fiscal year, 60 days ago: $22.19 Next fiscal year, 30 days ago: $22.19 Next fiscal year, 7 days ago: $21.66 Next fiscal year, Now: $22.43 $22.43

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $20.80$21.51
60 days ago $22.25$22.19
30 days ago $22.25$22.19
7 days ago $21.59$21.66
Now $22.47$22.43

Earnings against estimates

Berkshire Hathaway: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Jun 2026 $5.13 $6.03 +17.4%
Mar 2026 $5.05 $5.26 +4.2%
Dec 2025 $5.17 $4.73 −8.5%
Sept 2025 $5.73 $6.25 +9.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026

No numeric guidance in Berkshire Hathaway's latest earnings release (filed August 11, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

4 analysts, Oct 2026
Buy250%
Hold250%
Sell00%

Monthly trend

  1. Oct 2026224
  2. Sep 2026224
  3. Aug 2026224
  4. Jul 2026224

Counts of recommendations published by analysts covering Berkshire Hathaway, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.0%
of tradable shares
Days to cover
2.67
at average volume
Short interest, 1 month
+0%
to September 30, 2026
Held by institutions
67%
of shares
Held by insiders
0.3%
of shares
Employees
387,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +16.5%

$477.54 on October 31, 2025 to $556.11

Berkshire Hathaway: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $370.2bn $384.7bn +3.9%
Net margin 17.0% 22.3% +31.2%
P/E multiple 18.7x 16.0x −14.6%
Share count 2465m 2465m 0.0%

Biggest factor: net margin.

Last 3 years +58.1%

$351.81 on November 3, 2023 to $556.11

Berkshire Hathaway: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $332.9bn $384.7bn +15.6%
Net margin 26.0% 22.3% −14.4%
P/E multiple 10.0x 16.0x +59.8%
Share count 2465m 2465m 0.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Berkshire Hathaway: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
BRK.B+29%+3%+16%+27%+11%+11%
Industry peers (median)——————
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BRK.B67%50%58%58%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BRK.B−7%−27%−11%−8%−15%−8%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 30% from January 17, 2020 to March 23, 2020. Getting back needed a 42% gain, reached on November 16, 2020, 238 days after the low.

Price behaviour

52-week range
$465.40 – $556.11
From 52-week high
0.0%
vs 50-day average
+7.7%
vs 200-day average
+12.1%
Volatility (1 year)
15%
Beta vs S&P 500
-0.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±2.1%
After a week
7 up, 5 down
typical move ±2.7%
After a month
8 up, 4 down
typical move ±5.0%
Berkshire Hathaway: share-price change after each results release
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 −3.7% −0.1% −5.0% −4.2%
May 7, 2026 +1.3% +0.5% +3.0% +3.7%
March 2, 2026 −4.7% −0.8% −1.5% −5.1%
November 3, 2025 +2.1% −1.0% +4.1% +5.5%
August 4, 2025 −1.8% +1.0% −1.7% +6.1%
May 6, 2025 +1.2% −0.4% −0.1% −4.6%
February 24, 2025 +4.4% −1.0% +6.5% +10.5%
November 4, 2024 −1.6% +1.0% +3.4% +3.6%
August 5, 2024 −1.5% −2.0% +0.5% +11.7%
May 7, 2024 +0.4% +0.1% +1.3% +1.5%
February 26, 2024 −2.0% −0.2% −3.3% −1.4%
November 7, 2023 −0.1% +0.4% +2.2% +1.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Berkshire Hathaway’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look rich

Option prices imply clearly more movement than the shares have shown. That strengthens the case for selling options.

  • Implied is 1.39× the last 60 days’ realised volatility , richer than 86% of the 175 stocks we screen today.
  • Why: implied is 1.39x 60-day realised, above 1-year realised, and in the top 20% of our coverage today.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade none (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Fundamentals

Revenue (TTM) Berkshire Hathaway
$340B $350B $360B $370B $380B $390B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $349.2B Revenue (TTM), FY23 Q4: $364.5B Revenue (TTM), FY24 Q1: $369B Revenue (TTM), FY24 Q2: $370.1B Revenue (TTM), FY24 Q3: $369.9B Revenue (TTM), FY24 Q4: $371.4B Revenue (TTM), FY25 Q1: $371.3B Revenue (TTM), FY25 Q2: $370.2B Revenue (TTM), FY25 Q3: $372.1B Revenue (TTM), FY25 Q4: $371.4B Revenue (TTM), FY26 Q1: $375.4B Revenue (TTM), FY26 Q2: $384.7B $384.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $349.2B
FY23 Q4 $364.5B
FY24 Q1 $369B
FY24 Q2 $370.1B
FY24 Q3 $369.9B
FY24 Q4 $371.4B
FY25 Q1 $371.3B
FY25 Q2 $370.2B
FY25 Q3 $372.1B
FY25 Q4 $371.4B
FY26 Q1 $375.4B
FY26 Q2 $384.7B
Revenue growth, TTM YoY Berkshire Hathaway
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 18.0% Revenue growth, TTM YoY, FY23 Q4: 20.7% Revenue growth, TTM YoY, FY24 Q1: 16.5% Revenue growth, TTM YoY, FY24 Q2: 11.2% Revenue growth, TTM YoY, FY24 Q3: 5.9% Revenue growth, TTM YoY, FY24 Q4: 1.9% Revenue growth, TTM YoY, FY25 Q1: 0.6% Revenue growth, TTM YoY, FY25 Q2: 0.0% Revenue growth, TTM YoY, FY25 Q3: 0.6% Revenue growth, TTM YoY, FY25 Q4: 0.0% Revenue growth, TTM YoY, FY26 Q1: 1.1% Revenue growth, TTM YoY, FY26 Q2: 3.9% 3.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 18.0%
FY23 Q4 20.7%
FY24 Q1 16.5%
FY24 Q2 11.2%
FY24 Q3 5.9%
FY24 Q4 1.9%
FY25 Q1 0.6%
FY25 Q2 0.0%
FY25 Q3 0.6%
FY25 Q4 0.0%
FY26 Q1 1.1%
FY26 Q2 3.9%
Operating margin (TTM) Berkshire Hathaway
10% 11% 12% 13% 14% FY10 Q4 FY11 Q2 FY11 Q4 FY12 Q2 FY13 Q1 Operating margin (TTM), FY10 Q4: 12.7% Operating margin (TTM), FY11 Q1: 11.8% Operating margin (TTM), FY11 Q2: 10.9% Operating margin (TTM), FY11 Q3: 12.2% Operating margin (TTM), FY11 Q4: 12.0% Operating margin (TTM), FY12 Q1: 12.8% Operating margin (TTM), FY12 Q2: 13.8% Operating margin (TTM), FY12 Q3: 12.9% Operating margin (TTM), FY12 Q4: 12.4% Operating margin (TTM), FY13 Q1: 12.9% 12.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY10 Q4 12.7%
FY11 Q1 11.8%
FY11 Q2 10.9%
FY11 Q3 12.2%
FY11 Q4 12.0%
FY12 Q1 12.8%
FY12 Q2 13.8%
FY12 Q3 12.9%
FY12 Q4 12.4%
FY13 Q1 12.9%
FCF margin (TTM) Berkshire Hathaway
0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 7.7% FCF margin (TTM), FY23 Q4: 8.2% FCF margin (TTM), FY24 Q1: 8.4% FCF margin (TTM), FY24 Q2: 8.7% FCF margin (TTM), FY24 Q3: 5.7% FCF margin (TTM), FY24 Q4: 3.1% FCF margin (TTM), FY25 Q1: 3.2% FCF margin (TTM), FY25 Q2: 2.2% FCF margin (TTM), FY25 Q3: 5.2% FCF margin (TTM), FY25 Q4: 6.7% FCF margin (TTM), FY26 Q1: 6.4% FCF margin (TTM), FY26 Q2: 6.3% 6.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 7.7%
FY23 Q4 8.2%
FY24 Q1 8.4%
FY24 Q2 8.7%
FY24 Q3 5.7%
FY24 Q4 3.1%
FY25 Q1 3.2%
FY25 Q2 2.2%
FY25 Q3 5.2%
FY25 Q4 6.7%
FY26 Q1 6.4%
FY26 Q2 6.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Berkshire Hathaway: annual financial statements
Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 112.5 136.2 143.7 162.5 182.2 194.7 210.9 215.1 239.9 247.8 254.6 245.6 276.2 302.0 364.5 371.4 371.4 384.7
EBITDA 14.3 21.6 22.7 26.2 — — — — — — — — — — — — — —
Operating income 11.2 17.3 17.2 20.1 — — — — — — — — — — — — — —
Net income 8.1 13.0 10.3 14.8 19.5 19.9 24.1 24.1 44.9 4.0 81.4 42.5 89.9 −22.8 96.2 89.0 67.0 85.8
Growth (year on year)
Revenue +4.4% +21.1% +5.5% +13.1% +12.1% +6.9% +8.3% +2.0% +11.5% +3.3% +2.7% −3.5% +12.5% +9.4% +20.7% +1.9% +0.0% +3.9%
EBITDA — +50.9% +5.2% +15.7% — — — — — — — — — — — — — —
Operating income — +54.8% −0.5% +16.8% — — — — — — — — — — — — — —
Net income +61.3% +61.0% −20.9% +44.6% +31.4% +2.0% +21.2% −0.0% +86.7% −91.1% — −47.8% +111.5% −125.3% — −7.5% −24.8% +36.3%
Margins
EBITDA margin 12.7% 15.8% 15.8% 16.1% — — — — — — — — — — — — — —
Operating margin 9.9% 12.7% 12.0% 12.4% — — — — — — — — — — — — — —
Net margin 7.2% 9.5% 7.1% 9.1% 10.7% 10.2% 11.4% 11.2% 18.7% 1.6% 32.0% 17.3% 32.6% −7.5% 26.4% 24.0% 18.0% 22.3%
Free-cash-flow margin 9.7% 8.7% 8.5% 6.9% 9.1% 8.6% 7.3% 9.2% 14.2% 9.2% 8.9% 10.9% 9.5% 7.2% 8.2% 3.1% 6.7% 6.3%
Cash flow
Cash from operations 15.8 17.9 20.5 21.0 27.7 32.0 31.5 32.6 45.7 37.4 38.7 39.8 39.4 37.4 49.2 30.6 46.0 46.6
Capital spending 4.9 6.0 8.2 9.8 11.1 15.2 16.1 13.0 11.7 14.5 16.0 13.0 13.3 15.5 19.4 19.0 20.9 22.4
Free cash flow 10.9 11.9 12.3 11.2 16.6 16.8 15.4 19.7 34.0 22.9 22.7 26.8 26.2 21.9 29.8 11.6 25.0 24.2
Balance sheet
Cash 30.6 38.2 37.3 47.0 45.9 60.0 67.2 28.0 31.6 30.8 64.6 48.4 88.7 36.4 38.6 48.4 52.6 41.4
Total debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net debt (negative = net cash) −30.6 −38.2 −37.3 −47.0 −45.9 −60.0 −67.2 −28.0 −31.6 −30.8 −64.6 −48.4 −88.7 −36.4 −38.6 −48.4 −52.6 −41.4
Diluted shares 2,327m 2,453m 2,475m 2,477m 2,465m 2,465m — — — — — — — — — — — —
Returned to shareholders
Buybacks — — 0.1 1.3 — — — — — 1.3 4.9 24.7 27.1 7.9 9.2 2.9 — —
Total returned — — 0.1 1.3 — — — — — 1.3 4.9 24.7 27.1 7.9 9.2 2.9 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Competitors: side by side with peers

Closest by revenue in financials
Growth, margins and cash generation against peers
Last 12 months unless stated BRK.B JPM SNEX BAC PGR C Median
Revenue, last 12 months $384.7bn $199.4bn $157.7bn $120.2bn $91.7bn $91.4bn $626m
Revenue growth, last 12 months 3.9% 13.5% 20.6% 5.4% 7.7% 10.2% 11.5%
Revenue growth, 3-year average 4.9% 10.7% 37.5% 5.9% 16.1% 5.7% 7.8%
Revenue growth, latest quarter 10.0% 27.7% 15.4% 3.2% 3.0% 14.3% 10.7%
Gross margin — — 3.6% — — 89.0% 53.9%
Operating margin 12.9% — −0.0% — — — 9.7%
Net margin 22.3% 32.6% 0.3% 26.8% 12.7% 19.5% 20.4%
Cash from operations / revenue 12.1% −81.5% 2.4% 34.4% 17.1% −20.0% 28.8%
Free-cash-flow margin 6.3% −86.2% 2.4% 32.4% 16.6% −26.8% 25.9%
Free-cash-flow margin, 3-year average 5.7% −62.3% 1.3% 26.8% 18.8% −56.6% 25.8%
Stock pay / revenue — 2.0% 0.0% 3.5% — 1.9% 1.4%
Change in share count −0.0% −3.6% 1.7% −4.2% −0.4% −6.4% 0.0%

Median of all 561 companies we cover in financials. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

561 financials companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth 3.9% 11.5% 437 of 560
Change in growth rate Growth +2.8pp +0.1pp 154 of 558
Net margin Profitability 22.3% 20.4% 254 of 560

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Insurance Corporate and Other $108B ▲ 1.5%
Manufacturing Businesses $72.8B ▲ 1.2%
Mc Lane Company $50.2B ▼ 1.4%
Pilot Travel Centers LLC $41.9B ▼ 10.3%
Service and Retailing Businesses $33.8B ▲ 6.1%
Berkshire Hathaway Energy Company $25.4B ▲ 1.2%
Burlington Northern Santa Fe Corporation $23.3B ▼ 0.1%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue YoY
Insurance and Other $322B 0.0%
Other Retail and Wholesale Distribution $60.6B ▼ 6.6%
Railroad Utilities and Energy $49.7B ▼ 0.1%
Services $36.9B ▲ 2.6%
Grocery and Convenience Store Distribution $30.7B ▼ 3.6%
Manufactured Industrial and Commercial Products $30.3B ▲ 4.2%
Electricity and Natural Gas $21.3B ▲ 1.7%
Manufactured Building Products $19.6B ▼ 1.4%
Food and Beverage $18.6B ▲ 2.9%
Consumer Products $17.9B ▼ 1.6%
Auto Sales $11.3B ▲ 4.5%

These categories overlap or exclude eliminations, so shares aren't shown.

From Berkshire Hathaway's 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 299 $79.74 $23,842
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 5,135 $78.77 $404,484
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 2,452 $77.93 $191,084
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 2,290 $77.12 $176,605
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 20,200 $81.90 $1.7M
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 44,300 $81.14 $3.6M
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 842,753 $80.04 $67.5M
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 342,553 $79.03 $27.1M
Berkshire Hathaway Inc 10% owner October 2, 2026 Buy 448,113 $78.37 $35.1M
Berkshire Hathaway Inc 10% owner October 1, 2026 Buy 100 $80.00 $8,000
Berkshire Hathaway Inc 10% owner October 1, 2026 Buy 950 $79.51 $75,534
Berkshire Hathaway Inc 10% owner October 1, 2026 Buy 3,802 $78.26 $297,545

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 243 trades and filings

In the last 12 months, 9 members of Congress disclosed 8 purchases and 12 sales of Berkshire Hathaway shares.

  • Pete Sessions(R-TX 17):Sale (full), $15,001 - $50,000, traded October 15, 2026, filed October 27, 2026
  • Maria Elvira Salazar(R-FL 27):Sale (partial), $1,001 - $15,000, traded September 24, 2026, filed October 7, 2026
  • Richard McCormick(R-GA 7):Purchase, $1,001 - $15,000, traded September 18, 2026, filed October 14, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • May 7, 2026
  • March 2, 2026
  • November 3, 2025
  • August 4, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Berkshire Hathaway was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Berkshire Hathaway in brief

What does Berkshire Hathaway do?
Berkshire Hathaway is a US-listed company in the multi-sector holdings industry. Its financial year ends in December.
What is Berkshire Hathaway's stock ticker?
Berkshire Hathaway trades under the ticker BRK.B on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Berkshire Hathaway's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Berkshire Hathaway reported revenue of $385B, 3.9% higher than a year earlier, according to its SEC filings.
What is Berkshire Hathaway's free cash flow?
Berkshire Hathaway's free-cash-flow margin is 6.3% of revenue over the trailing twelve months.
Who are Berkshire Hathaway's competitors?
In our Financials peer group, the companies closest to Berkshire Hathaway are JPMorgan Chase, Stonex Group Inc., Bank of America, Progressive Corporation and Citigroup. The side-by-side comparison below sets their revenue, margins and growth against Berkshire Hathaway's.
Are insiders buying or selling Berkshire Hathaway stock?
Over the last 12 months, Berkshire Hathaway's directors and officers reported 50 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Berkshire Hathaway's next earnings date?
Around November 7, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Berkshire Hathaway announces its own schedule.