Berkshire Hathaway (BRK-B)


Market Price (8/5/2026): $516.98 | Market Cap: $1.1 TrilInvestor Relations Sector: Financials | Industry: Multi-Sector Holdings

Berkshire Hathaway (BRK-B)


Market Price (8/5/2026): $516.98
Market Cap: $1.1 Tril
Sector: Financials
Industry: Multi-Sector Holdings

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%, CFO LTM is 46 Bil, FCF LTM is 24 Bil

Stock buyback support
Stock Buyback 3Y Total is 7.9 Bil

Low stock price volatility
Vol 12M is 15%

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is -4.2%

Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -21%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%, CFO LTM is 46 Bil, FCF LTM is 24 Bil
3 Stock buyback support
Stock Buyback 3Y Total is 7.9 Bil
4 Low stock price volatility
Vol 12M is 15%
5 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is -4.2%
6 Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -21%
7 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x

BRK-B in ETFs

Weight = BRK-B's share of each fund

SPY1.4%
VOO1.4%
IVV1.5%
VTI1.3%
ITOT1.3%
IWB1.4%
RSP0.20%
VTV2.9%
+25 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/1/2026

Berkshire Hathaway (BRK-B) stock has gained about 10% since 4/30/2026 because of the following key factors:

1. Berkshire Hathaway executed substantial share buybacks in fiscal Q2 2026.

A Barron's analysis indicated that Berkshire Hathaway's Class A share count declined significantly between April 14 and July 14, 2026, suggesting potential share repurchases as high as $11 billion in fiscal Q2 2026. This would represent the largest quarterly buyback in the company's history and signaled strong management confidence in the company's intrinsic value, a key driver for the stock's appreciation.

2. The company completed a notable strategic acquisition during the period.

Berkshire Hathaway announced its intent to acquire Taylor Morrison Home Corporation for $8.5 billion on May 31, 2026, and subsequently completed the acquisition for $6.8 billion on July 24, 2026. This significant company-specific event expanded Berkshire Hathaway's diverse business portfolio, contributing to investor optimism.

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Updated on 8/1/2026

Berkshire Hathaway (BRK-B) stock has gained about 10% since 4/30/2026 because of the following key factors:

1. Berkshire Hathaway executed substantial share buybacks in fiscal Q2 2026.

A Barron's analysis indicated that Berkshire Hathaway's Class A share count declined significantly between April 14 and July 14, 2026, suggesting potential share repurchases as high as $11 billion in fiscal Q2 2026. This would represent the largest quarterly buyback in the company's history and signaled strong management confidence in the company's intrinsic value, a key driver for the stock's appreciation.

2. The company completed a notable strategic acquisition during the period.

Berkshire Hathaway announced its intent to acquire Taylor Morrison Home Corporation for $8.5 billion on May 31, 2026, and subsequently completed the acquisition for $6.8 billion on July 24, 2026. This significant company-specific event expanded Berkshire Hathaway's diverse business portfolio, contributing to investor optimism.

3. Robust fiscal Q1 2026 earnings provided a strong fundamental basis and reinforced investor confidence in the new leadership.

On May 2, 2026, Berkshire Hathaway reported strong fiscal Q1 2026 operating earnings, with EPS of $5.25, surpassing the Zacks Consensus Estimate of $4.82 by 8.92%. Although the stock initially saw a slight dip following the earnings release, the underlying operational strength, coupled with CEO Greg Abel's strategic focus on execution, efficiency, and disciplined capital deployment, and a public endorsement from Warren Buffett, reassured investors about the company's long-term outlook under its new leadership.

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Stock Movement Drivers

Fundamental Drivers

The 9.2% change in BRK-B stock from 4/30/2026 to 8/4/2026 was primarily driven by a 6.0% change in the company's Net Income Margin (%).
(LTM values as of)43020268042026Change
Stock Price ($)473.60517.229.2%
Change Contribution By: 
Total Revenues ($ Mil)410,522419,3022.1%
Net Income Margin (%)16.3%17.3%6.0%
P/E Multiple15.315.40.9%
Shares Outstanding (Mil)2,1572,1570.0%
Cumulative Contribution9.2%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/4/2026
ReturnCorrelation
BRK-B9.2% 
Market (SPY)7.3%-0.2%
Sector (XLF)11.0%46.1%

Fundamental Drivers

The 7.6% change in BRK-B stock from 1/31/2026 to 8/4/2026 was primarily driven by a 4.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120268042026Change
Stock Price ($)480.53517.227.6%
Change Contribution By: 
Total Revenues ($ Mil)400,548419,3024.7%
Net Income Margin (%)16.8%17.3%2.6%
P/E Multiple15.415.40.2%
Shares Outstanding (Mil)2,1572,1570.0%
Cumulative Contribution7.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/4/2026
ReturnCorrelation
BRK-B7.6% 
Market (SPY)11.8%4.0%
Sector (XLF)8.9%36.6%

Fundamental Drivers

The 9.6% change in BRK-B stock from 7/31/2025 to 8/4/2026 was primarily driven by a 22.3% change in the company's P/E Multiple.
(LTM values as of)73120258042026Change
Stock Price ($)471.88517.229.6%
Change Contribution By: 
Total Revenues ($ Mil)415,777419,3020.8%
Net Income Margin (%)19.5%17.3%-11.2%
P/E Multiple12.615.422.3%
Shares Outstanding (Mil)2,1572,1570.0%
Cumulative Contribution9.6%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/4/2026
ReturnCorrelation
BRK-B9.6% 
Market (SPY)23.1%3.4%
Sector (XLF)11.8%42.5%

Fundamental Drivers

The 47.0% change in BRK-B stock from 7/31/2023 to 8/4/2026 was primarily driven by a 588.5% change in the company's Net Income Margin (%).
(LTM values as of)73120238042026Change
Stock Price ($)351.96517.2247.0%
Change Contribution By: 
Total Revenues ($ Mil)285,407419,30246.9%
Net Income Margin (%)2.5%17.3%588.5%
P/E Multiple107.315.4-85.7%
Shares Outstanding (Mil)2,1852,1571.3%
Cumulative Contribution47.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/4/2026
ReturnCorrelation
BRK-B47.0% 
Market (SPY)74.4%41.5%
Sector (XLF)71.2%68.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BRK-B Return29%3%15%27%11%2%121%
Peers Return25%12%13%24%9%12%139%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
BRK-B Win Rate67%50%58%58%50%62% 
Peers Win Rate50%60%58%58%60%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
BRK-B Max Drawdown-7%-27%-10%-8%-15%-8% 
Peers Max Drawdown-16%-21%-22%-11%-17%-12% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: PGR, UNP, AIG, ALL, CB. See BRK-B Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/4/2026 (YTD)

How Low Can It Go

EventBRK-BS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-12.2%-24.5%
  % Gain to Breakeven13.9%32.4%
  Time to Breakeven29 days427 days
2020 COVID-19 Crash
  % Loss-29.3%-33.7%
  % Gain to Breakeven41.4%50.9%
  Time to Breakeven238 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-13.2%-19.2%
  % Gain to Breakeven15.3%23.8%
  Time to Breakeven126 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-12.8%-12.2%
  % Gain to Breakeven14.7%13.9%
  Time to Breakeven52 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-14.3%-17.9%
  % Gain to Breakeven16.7%21.8%
  Time to Breakeven29 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-11.6%-15.4%
  % Gain to Breakeven13.1%18.2%
  Time to Breakeven11 days125 days

Compare to PGR, UNP, AIG, ALL, CB

In The Past

Berkshire Hathaway's stock fell -1.0% during the 2025 US Tariff Shock. Such a loss loss requires a 1.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBRK-BS&P 500
2020 COVID-19 Crash
  % Loss-29.3%-33.7%
  % Gain to Breakeven41.4%50.9%
  Time to Breakeven238 days140 days
2008-2009 Global Financial Crisis
  % Loss-49.7%-53.4%
  % Gain to Breakeven98.7%114.4%
  Time to Breakeven1399 days1085 days

Compare to PGR, UNP, AIG, ALL, CB

In The Past

Berkshire Hathaway's stock fell -1.0% during the 2025 US Tariff Shock. Such a loss loss requires a 1.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Berkshire Hathaway (BRK-B)

Berkshire Hathaway Inc. is a highly diversified conglomerate with significant operations in insurance, freight rail transportation, and utilities. Its extensive insurance group provides property, casualty, life, accident, and health insurance and reinsurance services globally. Additionally, the company operates one of North America's largest freight rail systems and manages a substantial energy portfolio that generates, transmits, stores, and distributes electricity from a variety of sources, alongside natural gas distribution and storage facilities.

Beyond these core sectors, Berkshire Hathaway owns a vast collection of manufacturing and service businesses. This includes the production of consumer goods like boxed chocolates, apparel, and batteries, as well as industrial products such as specialty chemicals, metal cutting tools, aerospace components, and building materials like flooring, roofing, and engineered components. Its service offerings extend to logistics, electronic component distribution, professional aviation training, and franchising and servicing quick-service restaurants.

The company also has a substantial presence in retail, encompassing dealerships for automobiles and recreational vehicles, furniture and home goods stores, electronics outlets, and luxury jewelry retailers. Through this broad array of subsidiaries, Berkshire Hathaway serves a diverse customer base that ranges from individual consumers and small businesses to large corporations across nearly every sector of the global economy.

AI Analysis | Feedback

Here are 1-2 brief analogies for Berkshire Hathaway:

  • Like a modernized, even more diverse version of the historic General Electric, owning everything from insurance companies and railroads to utilities and candy.
  • Imagine Procter & Gamble, but instead of just owning many consumer product brands, it owns and operates entire businesses across unrelated industries, like insurance, railroads, and manufacturing.

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  • Insurance and Reinsurance: Provides property, casualty, life, accident, and health insurance and reinsurance products globally.
  • Freight Rail Transportation: Operates extensive freight rail systems across North America.
  • Energy and Utilities: Engages in the generation, transmission, storage, and distribution of electricity and natural gas from various sources.
  • Manufactured Products: Produces a wide array of goods including building materials, industrial components, food products, consumer items, and specialty chemicals.
  • Retail Operations: Sells diverse goods such as automobiles, home furnishings, electronics, jewelry, and apparel through various retail outlets.
  • Diversified Services: Offers services including residential construction, lending, logistics, aviation training, and quick service restaurant franchising.

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Berkshire Hathaway Inc. (BRK-B) sells primarily to other companies through its diverse portfolio of subsidiaries in industries such as freight rail transportation, reinsurance, industrial manufacturing, and distribution.

Major customers include:

  • Aerospace & Defense Companies: As customers of its industrial manufacturing subsidiaries like Precision Castparts.
    • Boeing (BA)
    • Lockheed Martin (LMT)
  • Other Insurance Companies: As customers of Berkshire Hathaway's significant reinsurance operations.
    • American International Group (AIG)
    • Travelers Companies (TRV)
  • Large Retailers and Foodservice Providers: As customers of its logistics and distribution businesses like McLane Company.
    • Walmart (WMT)
    • McDonald's Corporation (MCD)

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Greg Abel, President & CEO

Greg Abel succeeded Warren Buffett as CEO of Berkshire Hathaway at the beginning of 2026. Prior to this role, he was appointed Vice Chairman of Berkshire Hathaway for non-insurance operations in January 2018. Abel joined CalEnergy in 1992, which later became MidAmerican Energy Holdings Company and then Berkshire Hathaway Energy. He became CEO of MidAmerican in 2008 and chairman in 2011, overseeing the expansion of Berkshire Hathaway Energy into one of North America's largest regulated utility groups. He led CalEnergy's acquisition of MidAmerican Energy Holdings in 1999.

Charles Chang, Senior Vice President and Chief Financial Officer

Charles Chang is set to become Senior Vice President and Chief Financial Officer of Berkshire Hathaway, effective June 1, 2026, succeeding Marc Hamburg. He currently serves as Senior Vice President, Chief Financial Officer, and Director of Berkshire Hathaway Energy, a position he has held since October 1, 2024. Before joining Berkshire Hathaway Energy, Chang was a partner at PricewaterhouseCoopers LLP's Energy Practice for over three decades.

Warren Buffett, Chairman

Warren Buffett is the Chairman of Berkshire Hathaway, having previously served as Chairman and CEO from 1970 to 2025. He began acquiring Berkshire Hathaway stock in 1962 and transformed the company from a struggling textile manufacturer into a multinational conglomerate. Buffett founded Buffett Partnership Ltd. in 1956 and is renowned for his value investing philosophy and successful acquisitions of stakes in various companies.

Ajit Jain, Vice Chairman, Insurance Operations

Ajit Jain is the Vice Chairman of Insurance Operations at Berkshire Hathaway, a position he has held since January 2018. He joined Berkshire Hathaway in 1986 and is widely recognized for building and overseeing the company's global reinsurance and insurance activities, transforming a small operation into a significant business. Prior to his time at Berkshire, Jain worked as a salesman for IBM in India from 1973 to 1976 and then as an executive consultant at McKinsey & Co. from 1978 to 1986.

Ted Weschler, Investment Manager

Ted Weschler joined Berkshire Hathaway in 2012 as an investment manager. Before his tenure at Berkshire, he founded and served as the managing partner of his own hedge fund, Peninsula Capital Advisors, which he shuttered in 2011. Weschler also spent ten years as a partner in Quad-C Management, a private equity firm.

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The public company Berkshire Hathaway (symbol: BRK-B) faces several key risks due to its highly diversified business model encompassing insurance, freight rail transportation, utility businesses, manufacturing, and retail operations.

  1. Catastrophic Events and Climate Change Impacts: Berkshire Hathaway's significant insurance and utility segments are highly vulnerable to catastrophic natural disasters and the increasing impacts of climate change. The insurance operations, including property, casualty, and reinsurance, incur substantial losses from events such as hurricanes and wildfires, which can significantly reduce underwriting profits. Similarly, the utility businesses, particularly those in western states, face billions of dollars in claims and potential liquidity crises due to wildfires linked to their infrastructure. Warren Buffett himself has highlighted that the electric utility sector is not as reliable an investment as it once was due to growing wildfire risks.

  2. Regulatory and Political Environment: A substantial portion of Berkshire Hathaway's portfolio operates in heavily regulated industries, including insurance, freight rail, and utilities. Changes in regulatory policies, increased political scrutiny, and evolving environmental mandates can lead to higher operating costs, significant capital expenditures, and legal liabilities across these segments. For instance, the freight rail business (BNSF) is exposed to regulatory and labor dynamics, including wage increases mandated by external bodies. The utility businesses are particularly sensitive to regulatory decisions concerning rates and environmental compliance, further exacerbated by liabilities from wildfires. The insurance sector also faces risks from shifts in underwriting cycles and regulations.

  3. Reliance on Key Personnel for Investment and Capital Allocation Decisions: While not directly an operational risk described in the background, Berkshire Hathaway's historical success as a conglomerate is deeply intertwined with the investment prowess and capital allocation decisions of a few key individuals, notably Warren Buffett and Charlie Munger. Although succession plans are in place with Greg Abel and Ajit Jain, the ongoing ability to identify compelling investment opportunities and allocate capital effectively remains a critical factor for the company's long-term performance and strategic direction. The departure or unavailability of these key executives could impact investor confidence and the company's strategic trajectory.

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1. The development and increasing viability of autonomous trucking technology pose a clear emerging threat to Berkshire Hathaway's freight rail transportation business (BNSF Railway). If widely adopted, autonomous trucks could offer lower operating costs, increased efficiency, and potentially faster delivery times for certain types of cargo, directly competing with and potentially diverting freight volume from rail services.

2. The accelerating adoption of decentralized renewable energy generation (such as rooftop solar) and advanced battery storage solutions represents an emerging threat to Berkshire Hathaway's utility businesses. As consumers and businesses increasingly generate and store their own power, it could reduce demand for electricity from traditional grid sources and impact the revenue and infrastructure requirements for centralized utility operations.

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Here are the addressable market sizes for Berkshire Hathaway's main products and services:

  • Insurance: The global insurance market was valued at $9.0 trillion in 2023. The U.S. insurance market size was $3.7 trillion in 2024 and is projected to reach $9.1 trillion by 2032. Another source indicates the global insurance market was valued at USD 6 trillion. In 2023, the U.S. accounted for $3.226 trillion (44.9%) of the $7.186 trillion global direct premiums written worldwide. The U.S. insurance industry net premiums written totaled $1.7 trillion in 2024.
  • Freight Rail Transportation: The global rail freight transport market was valued at $1,561.6 billion in 2024 and is projected to reach $2,125.4 billion by 2035. North America leads this market, holding a significant share of $780.0 million. Another report indicates the global rail freight transportation market size was estimated at USD 202,017.31 million in 2026 and is projected to reach USD 281,943 million by 2035. The North America rail freight transportation market size is forecast to increase by $37.53 billion between 2024 and 2029.
  • Electric Utilities (Distribution): The global electric distribution utility market was estimated at $439.1 billion in 2025 and is expected to grow to $801.1 billion in 2035. The global electricity transmission and distribution market size was valued at $397.99 billion in 2025 and is projected to reach $580.51 billion by 2034.
  • Natural Gas Distribution and Storage: The global natural gas distribution market, estimated at $1 trillion in 2025, is projected to reach $2.1 trillion by 2034. In the U.S., the natural gas distribution market was $225.5 billion in 2026. The U.S. natural gas distribution market was valued at USD 170.0 billion in 2024. The global natural gas storage market size was estimated at 565.2 billion cubic meters (bcm) in 2024 and is projected to reach 742.3 bcm by 2030, with North America dominating this market.
  • Confectionery Products: The global confectionery market size was valued at $220.85 billion in 2025 and is projected to grow to $295.06 billion by 2034. Another source states the global confectionery market size was $314.22 billion in 2024 and is projected to reach $443.38 billion by 2033. The U.S. confectionery market is projected to reach an estimated value of $36.09 billion by 2032.
  • Flooring Products: The global flooring market size was valued at $331.9 billion in 2023 and is projected to reach $510.7 billion by 2028. Another estimate places the global flooring market size at USD 385.6 billion in 2025 and projected to reach USD 634.8 billion by 2033.
  • Automotive Retail: The global automotive retail market size was valued at $714.43 billion in 2025 and is projected to grow to $1,381.99 billion by 2034. North America holds a significant share, accounting for approximately 40% of the global market. The U.S. automotive retail market is projected to reach USD 141.9 billion by 2026. Another source states the global automotive retail market size was valued at USD 3.92 trillion in 2024 and is expected to reach nearly USD 6.81 trillion by 2032.

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Berkshire Hathaway (BRK-B) is anticipated to drive future revenue growth over the next two to three years through several key areas:

  1. Strategic Acquisitions and Investments leveraging its Cash Reserves: Berkshire Hathaway ended 2025 with substantial cash reserves, exceeding $373 billion. This significant capital provides ample resources for future strategic acquisitions and investments, as exemplified by the $9.7 billion acquisition of Occidental's chemical unit, OxyChem, in early 2026.
  2. Growth and Efficiency in its Diversified Manufacturing, Service, and Retailing (MSR) Businesses: The company's collection of manufacturing, service, and retailing businesses demonstrated profit growth of 3.3% in the fourth quarter of 2025 and 4.4% for the full year, with strong contributions from segments like Precision Castparts, Marmon, NetJets, FlightSafety, and McLane. These businesses are expected to continue generating significant cash flow and contribute to overall revenue growth.
  3. Expansion and Improved Performance in Burlington Northern Santa Fe (BNSF) Railway Operations: The BNSF railroad segment saw earnings rise by 5.4% in the fourth quarter of 2025 and 8.8% for the full year. The ongoing trend of "onshoring/near-shoring" manufacturing in North America is expected to act as a significant tailwind for BNSF, increasing domestic freight volumes for industrial components.
  4. Long-term Opportunities within Berkshire Hathaway Energy (BHE): While BHE experienced some mixed results in 2025, with utilities earnings up but natural gas pipelines and other energy businesses down, the broader energy transition toward renewable sources presents a considerable long-term growth opportunity for the segment, albeit requiring significant capital expenditure.

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Share Repurchases

  • Berkshire Hathaway repurchased approximately $60 billion of its shares between 2020 and 2022.
  • Share repurchases decreased to $9 billion in 2023, $3 billion in 2024, and were zero for the full year 2025.
  • The company restarted its share repurchase program in March 2026, adhering to a policy of buying back shares when they trade below intrinsic value and ensuring consolidated cash and equivalents remain above $30 billion.

Outbound Investments

  • Berkshire Hathaway's long-term investments increased consistently, from $553.232 billion in 2023 to $622.386 billion in 2024, and $675.541 billion in 2025.
  • As of the first quarter of 2025, the company managed an equity investment portfolio valued at approximately $258 billion.
  • Recent portfolio adjustments include fully divesting from Citigroup and significantly increasing its stake in Constellation Brands in Q1 2025. Berkshire also completed the acquisition of Occidental Chemical Corporation for approximately $9.7 billion in early 2026, following an announcement in October 2025.

Capital Expenditures

  • Annual capital expenditures were $19.409 billion in 2023 and $18.976 billion in 2024.
  • Capital expenditures reached $20.072 billion for the latest twelve months ending September 2025, with expected expenditures for the full year 2025 forecasted at $20.927 billion.
  • A primary focus for capital allocation going forward, under CEO Greg Abel, is to enhance efficiency across its core business pillars, including Insurance, BNSF Railway, Berkshire Hathaway Energy, and Manufacturing.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BRK-BPGRUNPAIGALLCBMedian
NameBerkshir.Progress.Union Pa.American.Allstate Chubb  
Mkt Price517.22210.75296.3579.32262.56348.30279.46
Mkt Cap1,115.7122.9175.942.768.1134.9128.9
Rev LTM419,30291,01925,41026,61667,55762,27764,917
Op Inc LTM--10,171---10,171
FCF LTM23,87215,9516,5043,52511,53115,37613,454
FCF 3Y Avg22,30615,1825,8744,1638,52114,84711,684
CFO LTM45,50416,33910,2633,52511,70815,37613,542
CFO 3Y Avg42,50115,4999,5584,1638,74314,84712,202

Growth & Margins

BRK-BPGRUNPAIGALLCBMedian
NameBerkshir.Progress.Union Pa.American.Allstate Chubb  
Rev Chg LTM0.8%10.5%4.2%-2.4%4.4%8.5%4.3%
Rev Chg 3Y Avg15.3%17.8%0.9%0.7%9.1%10.4%9.7%
Rev Chg Q10.5%7.3%11.5%-2.3%3.0%7.2%7.3%
QoQ Delta Rev Chg LTM2.1%1.8%2.9%-0.6%0.7%1.8%1.8%
Op Inc Chg LTM--3.4%---3.4%
Op Inc Chg 3Y Avg--2.2%---2.2%
Op Mgn LTM--40.0%---40.0%
Op Mgn 3Y Avg--39.7%---39.7%
QoQ Delta Op Mgn LTM---0.2%----0.2%
CFO/Rev LTM10.9%18.0%40.4%13.2%17.3%24.7%17.6%
CFO/Rev 3Y Avg10.2%19.3%38.7%15.2%13.6%25.8%17.3%
FCF/Rev LTM5.7%17.5%25.6%13.2%17.1%24.7%17.3%
FCF/Rev 3Y Avg5.4%19.0%23.8%15.2%13.2%25.8%17.1%

Valuation

BRK-BPGRUNPAIGALLCBMedian
NameBerkshir.Progress.Union Pa.American.Allstate Chubb  
Mkt Cap1,115.7122.9175.942.768.1134.9128.9
P/S2.71.36.91.61.02.21.9
P/Op Inc--17.3---17.3
P/EBIT11.88.116.39.94.38.99.4
P/E15.410.524.013.55.612.112.8
P/CFO24.57.517.112.15.88.810.4
Total Yield6.5%16.1%6.0%9.7%19.4%9.4%9.6%
Dividend Yield0.0%6.6%1.9%2.3%1.5%1.1%1.7%
FCF Yield 3Y Avg2.3%11.3%4.0%8.8%15.8%12.8%10.1%
D/E0.10.10.20.20.10.10.1
Net D/E-0.2-0.00.2-0.60.0-0.2-0.1

Returns

BRK-BPGRUNPAIGALLCBMedian
NameBerkshir.Progress.Union Pa.American.Allstate Chubb  
1M Rtn1.9%-9.2%5.0%-0.1%4.9%-3.6%0.9%
3M Rtn11.1%6.6%12.8%1.8%20.8%8.3%9.7%
6M Rtn4.8%4.9%24.0%8.3%31.5%11.8%10.1%
12M Rtn12.7%-7.1%36.5%3.7%31.9%31.7%22.2%
3Y Rtn47.8%82.2%38.7%39.6%155.1%80.5%64.1%
1M Excs Rtn-0.5%-11.7%2.2%-4.4%3.1%-4.9%-2.5%
3M Excs Rtn3.0%-1.6%5.6%-4.5%12.6%0.0%1.5%
6M Excs Rtn-4.8%-7.0%16.4%-2.2%21.2%1.7%-0.3%
12M Excs Rtn-14.6%-30.9%14.1%-18.6%10.1%7.9%-3.4%
3Y Excs Rtn-21.0%15.6%-32.7%-28.0%80.4%7.2%-6.9%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Insurance104,212105,06995,02282,31075,140
Manufacturing78,48777,23175,40575,78168,730
McLane50,99851,90752,60753,20949,450
Service and retailing42,64739,87439,99638,30334,832
Pilot42,19846,89151,7390 
Berkshire Hathaway Energy (BHE)26,29726,34826,00826,39325,096
Burlington Northern Santa Fe, LLC (BNSF)23,53323,57223,87625,88823,282
Corporate, eliminations and other3,072541-171136-327
Equity method earnings (losses)0    
Investment gains (losses)0000 
Interest expense, not allocated to segments 000 
Non-controlled businesses 000 
Total371,444371,433364,482302,020276,203


Operating Income by Segment
$ Mil20152014201320052004
Investment gains (losses)10,3474,0816,6735,494 
Burlington Northern Santa Fe6,7756,1695,928  
Insurance group6,3877,0257,8023,5334,375
Manufacturing4,893    
BerkshireHathaway Energy2,8512,711   
Finance and Financial Products2,0861,839985822584
Service and retailing1,7201,546   
McLane502435486217228
Eliminations and other-241-199-1,140-204 
Interest expense, excluding interest allocated to operating businesses-374-313   
Manufacturing businesses 4,811   
Marmon  1,176  
Mid American  1,806  
Other Businesses  5,080501465
Apparel   348325
Building products   751643
Flight Services   120 
Other revenues   523 
Retail Business   201163
Shaw Industries   485 
Aviation Training (Flight Services)    191
Shaw industries    466
Total34,94628,10528,79612,7917,440


Assets by Segment
$ Mil20252024202320222021
Insurance571,145539,884538,860459,917482,813
Corporate and other161,691137,15364,14262,64569,770
Berkshire Hathaway Energy (BHE)136,515128,276124,383118,114113,447
Manufacturing122,132119,860115,875113,578107,231
Goodwill83,07483,88084,62678,11973,875
Burlington Northern Santa Fe, LLC (BNSF)82,53280,81379,22777,75276,586
Service and retailing39,12437,19834,60031,29128,221
Pilot18,82819,65221,4040 
McLane7,1357,1656,8617,0496,841
Total1,222,1761,153,8811,069,978948,465958,784


Price Behavior

Price Behavior
Market Price$517.22 
Market Cap ($ Bil)1,115.7 
First Trading Date03/17/1980 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$492.15$490.43
DMA Trendindeterminateup
Distance from DMA5.1%5.5%
 3M1YR
Volatility14.3%14.5%
Downside Capture-28.27-7.27
Upside Capture21.437.96
Correlation (SPY)-2.9%3.0%
BRK-B Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.06-0.07-0.030.030.030.43
Up Beta-0.570.110.140.300.190.56
Down Beta0.26-0.25-0.150.11-0.000.44
Up Capture34%19%14%-0%2%13%
Bmk +ve Days11223567138427
Stock +ve Days11233259125395
Down Capture1%-31%-25%-23%-9%55%
Bmk -ve Days11212859114326
Stock -ve Days11203167127357

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BRK-B
BRK-B9.4%14.8%0.39-
Sector ETF (XLF)14.0%14.7%0.6843.0%
Equity (SPY)25.2%12.9%1.473.6%
Gold (GLD)21.1%28.1%0.67-5.9%
Commodities (DBC)28.3%19.8%1.14-22.5%
Real Estate (VNQ)15.6%13.8%0.8130.6%
Bitcoin (BTCUSD)-44.2%43.0%-1.23-8.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BRK-B
BRK-B13.1%17.1%0.59-
Sector ETF (XLF)11.5%18.4%0.4877.3%
Equity (SPY)13.4%17.2%0.6059.4%
Gold (GLD)17.3%18.5%0.761.8%
Commodities (DBC)8.1%19.6%0.319.8%
Real Estate (VNQ)2.4%18.9%0.0253.1%
Bitcoin (BTCUSD)10.0%53.0%0.3819.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BRK-B
BRK-B13.7%19.4%0.61-
Sector ETF (XLF)13.7%22.1%0.5784.4%
Equity (SPY)15.4%17.9%0.7372.6%
Gold (GLD)11.6%16.1%0.58-1.9%
Commodities (DBC)7.0%18.0%0.3122.8%
Real Estate (VNQ)4.8%20.7%0.2059.0%
Bitcoin (BTCUSD)58.0%66.2%0.9815.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Earnings Returns History

Updated 6/10/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/20260.2%1.9%2.5%
3/2/20260.2%3.5%-0.2%
11/3/20252.5%4.5%5.8%
8/4/20251.1%1.2%9.2%
5/6/20251.1%-0.1%-4.6%
2/24/20250.3%2.3%6.1%
11/4/2024-2.2%2.5%4.0%
8/5/20242.0%4.0%15.7%
...
SUMMARY STATS   
# Positive171817
# Negative656
Median Positive0.6%2.3%3.8%
Median Negative-1.4%-1.1%-1.9%
Max Positive3.2%5.9%15.7%
Max Negative-2.5%-4.7%-4.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/20260.2%1.9%2.5%
3/2/20260.2%3.5%-0.2%
11/3/20252.5%4.5%5.8%
8/4/20251.1%1.2%9.2%
5/6/20251.1%-0.1%-4.6%
2/24/20250.3%2.3%6.1%
11/4/2024-2.2%2.5%4.0%
8/5/20242.0%4.0%15.7%
5/7/20240.1%1.0%1.2%
2/26/2024-0.1%-1.4%0.6%
11/7/20230.0%2.3%1.9%
8/7/20230.3%-1.1%-0.3%
5/10/2023-0.1%1.4%3.8%
3/1/20231.0%2.2%0.2%
11/8/2022-1.4%5.9%4.6%
5/4/2022-2.5%-4.7%-4.9%
3/1/2022-1.4%0.4%10.5%
11/8/20210.3%-0.7%-1.0%
8/9/20210.6%0.8%-2.7%
5/5/20212.5%0.1%3.5%
3/1/20210.0%3.4%3.6%
11/9/20203.2%5.2%2.7%
8/17/20200.7%2.8%6.2%
SUMMARY STATS   
# Positive171817
# Negative656
Median Positive0.6%2.3%3.8%
Median Negative-1.4%-1.1%-1.9%
Max Positive3.2%5.9%15.7%
Max Negative-2.5%-4.7%-4.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/04/202610-Q
12/31/202503/02/202610-K
09/30/202511/03/202510-Q
06/30/202508/04/202510-Q
03/31/202505/05/202510-Q
12/31/202402/24/202510-K
09/30/202411/04/202410-Q
06/30/202408/05/202410-Q
03/31/202405/06/202410-Q
12/31/202302/26/202410-K
09/30/202311/06/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/04/202610-Q
12/31/202503/02/202610-K
09/30/202511/03/202510-Q
06/30/202508/04/202510-Q
03/31/202505/05/202510-Q
12/31/202402/24/202510-K
09/30/202411/04/202410-Q
06/30/202408/05/202410-Q
03/31/202405/06/202410-Q
12/31/202302/26/202410-K
09/30/202311/06/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
03/31/202205/02/202210-Q
12/31/202102/28/202210-K
09/30/202111/08/202110-Q
06/30/202108/09/202110-Q
03/31/202105/03/202110-Q
12/31/202003/01/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/04/202010-Q
12/31/201902/24/202010-K
09/30/201911/04/201910-Q
06/30/201908/05/201910-Q

Insider Activity

Updated 8/4/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1O'Sullivan, Michael JSee RemarksTrustBuy5062026467.44536250,545309,910Form
2Jain, AjitVice ChairmanJain Foundation Inc. (Non-Profit Corporation)Sell92620250.0015,000  Form
3Jain, AjitVice ChairmanJain Foundation Inc. (Non-Profit Corporation)Sell8082025464.732,000929,45256,839,708Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1O'Sullivan, Michael JSee RemarksTrustBuy5062026467.44536250,545309,910Form
2Jain, AjitVice ChairmanJain Foundation Inc. (Non-Profit Corporation)Sell92620250.0015,000  Form
3Jain, AjitVice ChairmanJain Foundation Inc. (Non-Profit Corporation)Sell8082025464.732,000929,45256,839,708Form
Core Cache Last Updated: 8/4/2026