A Business at a Glance
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BERKSHIRE HATHAWAY INC
BRK-B
$1.1T
Mkt Cap
$494.93
+0.83%
BERKSHIRE HATHAWAY INC (BRK-B) has a current P/E ratio of 15.9, compared to its historical median P/E of 10.9. The stock is currently considered Expensive based on its historical valuation range.
BERKSHIRE HATHAWAY INC (BRK-B) has a 5-year average return on invested capital (ROIC) of 11.4%. This indicates solid capital allocation.
BERKSHIRE HATHAWAY INC (BRK-B) does not currently pay a regular dividend.
Based on historical P/E analysis, BERKSHIRE HATHAWAY INC (BRK-B) appears expensive. The current P/E of 15.9 is 46% above its historical median of 10.9. The estimated fair value CAGR (P/E method) is 15.6%.
BERKSHIRE HATHAWAY INC (BRK-B) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
BERKSHIRE HATHAWAY INC (BRK-B) reported annual revenue of $371.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
BERKSHIRE HATHAWAY INC (BRK-B) has a net profit margin of 18.0%. This is a healthy margin.
Berkshire Hathaway is a diversified holding company with subsidiaries engaged in insurance (primary and reinsurance), freight rail transportation, utility and energy generation and distribution, and numerous manufacturing, services, and retailing businesses. The insurance segment, which includes GEICO (private passenger auto insurance), the Berkshire Hathaway Primary Group, and the Berkshire Hathaway Reinsurance Group, operates globally and generates underwriting profit through earned premiums less incurred losses and expenses, while also benefiting from investment income on insurance float. Berkshire's insurance subsidiaries maintain exceptionally high capital strength, with combined statutory surplus of approximately $333 billion at year-end 2025, and are rated AA+ by Standard & Poor's and A++ by A.M. Best. The company operates on a highly decentralized management basis with approximately 387,800 employees worldwide, of which approximately 80% are in the United States. Berkshire's insurance businesses compete on reliability, financial strength, underwriting consistency, service, ethics, price, and capacity, with GEICO holding the third-largest market share in U.S. private passenger automobile insurance at approximately 11.6% as of 2024. The company's insurance operations are subject to extensive regulatory oversight in the U.S. and internationally, including capital adequacy requirements, solvency monitoring, and governance standards established by state regulators, the NAIC, and international bodies such as the IAIS.
【Regulatory capital framework evolving】 Management notes that international insurance regulators have adopted new capital standards and group supervision frameworks, including the IAIS's international capital standard adopted in December 2024 and the NAIC's group capital calculation tool, which Berkshire's insurance subsidiaries must comply with through annual filings to the Nebraska Department of Insurance as lead supervisor. The company expects its insurance group deductible under the Terrorism Risk Insurance Program to be approximately $2.5 billion in 2026, reflecting ongoing exposure to terrorism-related risks. Berkshire's decentralized operating structure and exceptionally high capital levels position the company to navigate evolving regulatory requirements while maintaining competitive differentiation through financial strength and stability. The company continues to emphasize ethical business conduct and compliance with government laws and regulations across its diverse operating subsidiaries.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Other Retail and Wholesale Distribution | $18.89B | $20.13B | $70.78B | $64.86B | $60.60B | 25% |
Service | $35.06B | $37.42B | $36.05B | $35.94B | $36.88B | 15% |
Grocery and Convenience Store Distribution | $31.25B | $32.60B | $31.52B | $31.84B | $30.70B | 12% |
Industrial and Commercial | $22.34B | $24.77B | $28.30B | $29.12B | $30.34B | 12% |
Electricity and Natural Gas | $18.26B | $20.32B | $20.65B | $20.99B | $21.34B | 9% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 375.4B | 371.4B | 371.4B | 364.5B | 302.0B | 276.2B |
| Net Income | 72.5B | 67.0B | 89.0B | 96.2B | -22.8B | 89.9B |
| EPS | $0.00 | - | - | - | - | - |
| Free Cash Flow | 23.9B | 25.0B | 11.6B | 29.8B | 21.9B | 26.2B |
| ROIC | 0.0% | 9.7% | 14.5% | 18.4% | -4.6% | 18.7% |
| Gross Margin | - | 19.3% | 19.9% | 16.7% | 16.8% | 17.1% |
| Debt/Equity | -0.00 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 82.5B | 110.4B | 120.2B | -30.5B | 111.9B |
| Operating Margin | 0.0% | 22.2% | 29.7% | 33.0% | -10.1% | 40.5% |
| ROE | 10.0% | 9.8% | 14.7% | 18.6% | -4.6% | 18.9% |
| Shares Outstanding | 0M | - | - | - | - | - |
BERKSHIRE HATHAWAY INC passes 3 of 9 quality checks, indicating weak fundamentals.
BERKSHIRE HATHAWAY INC trades at 15.9x trailing earnings, compared to its 15-year median P/E of 10.9x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 11.4% with a gross margin of 18.0%. At current prices, the estimated annualized return to fair value is +15.6%.
BERKSHIRE HATHAWAY INC (BRK-B) generated $25.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BERKSHIRE HATHAWAY INC (BRK-B) has a debt-to-equity ratio of 0.01. This indicates a conservatively financed balance sheet.
BERKSHIRE HATHAWAY INC (BRK-B) has a return on equity (ROE) of 9.8%. This indicates moderate shareholder returns.
BERKSHIRE HATHAWAY INC (BRK-B) has a 5-year average gross margin of 18.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for BERKSHIRE HATHAWAY INC (BRK-B), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Based on recent SEC filings and earnings disclosures, Management notes that international insurance regulators have adopted new capital standards and group supervision frameworks, including the IAIS's international capital standard adopted in December 2024 and the NAIC's group capital calculation tool, which Berkshire's insurance subsidiaries must comply with through annual filings to the Nebraska Department of Insurance as lead supervisor. The company expects its insurance group deductible under the Terrorism Risk Insurance Program to be approximately $2.5 billion in 2026, reflecting ongoing exposure to terrorism-related risks. Berkshire's decentralized operating structure and exceptionally high capital levels position the company to navigate evolving regulatory requirements while maintaining competitive differentiation through financial strength and stability. The company continues to emphasize ethical business conduct and compliance with government laws and regulations across its diverse operating subsidiaries.