Berkshire Hathaway $BRK.B

Financials · Multi-Sector Holdings · NYSE/NASDAQ

Profile updated

$532.23
+0.21 (+0.04%)
As of Oct 20, 2026, 9:21 AM EDT
Price history
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Key facts

52-week range (closes)
$465.40 – $529.42 Lowest close Apr 22, 2026, highest Aug 10, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Fiscal year ends
December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since
Feb 16, 2010 · All S&P 500 changes

Berkshire Hathaway (BRK.B) is trading up at $532.23 (+0.04%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Financials sector.

Berkshire Hathaway revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)
$371.4B$174.3B−$22.8BFY2016 revenue: $215.1BFY2016 net income: $24.1B · Net margin 11.2%'16FY2017 revenue: $239.9BFY2017 net income: $44.9B · Net margin 18.7%'17FY2018 revenue: $247.8BFY2018 net income: $4.02B · Net margin 1.6%'18FY2019 revenue: $254.6BFY2019 net income: $81.4B · Net margin 32.0%'19FY2020 revenue: $245.6BFY2020 net income: $42.5B · Net margin 17.3%'20FY2021 revenue: $276.2BFY2021 net income: $89.9B · Net margin 32.6%'21FY2022 revenue: $302.0BFY2022 net income: −$22.8B · Net margin −7.5%'22FY2023 revenue: $364.5BFY2023 net income: $96.2B · Net margin 26.4%'23FY2024 revenue: $371.4BFY2024 net income: $89.0B · Net margin 24.0%'24FY2025 revenue: $371.4BFY2025 net income: $67.0B · Net margin 18.0%'250%20%40%60%80%FY2016 net margin: 11.2%FY2017 net margin: 18.7%FY2018 net margin: 1.6%FY2019 net margin: 32.0%FY2020 net margin: 17.3%FY2021 net margin: 32.6%FY2022 net margin: −7.5% (off the scale, which stops at −4.9%)FY2023 net margin: 26.4%FY2024 net margin: 24.0%FY2025 net margin: 18.0%
Berkshire Hathaway annual financial statements
FY2016Dec 2016FY2017Dec 2017FY2018Dec 2018FY2019Dec 2019FY2020Dec 2020FY2021Dec 2021FY2022Dec 2022FY2023Dec 2023FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$215.1B$239.9B$247.8B$254.6B$245.6B$276.2B$302.0B$364.5B$371.4B$371.4B
Growth (year over year)+2.0%+11.5%+3.3%+2.7%−3.5%+12.5%+9.4%+20.7%+1.9%+0.0%
Net income$24.1B$44.9B$4.02B$81.4B$42.5B$89.9B−$22.8B$96.2B$89.0B$67.0B
Net margin11.2%18.7%1.6%32.0%17.3%32.6%−7.5%26.4%24.0%18.0%
Balance sheet
Cash and equivalents$28.0B$31.6B$30.8B$64.6B$48.4B$88.7B$36.4B$38.6B$48.4B$52.6B
Total assets$620.9B$702.1B$707.8B$817.7B$873.7B$959.4B$948.5B$1.07T$1.15T$1.22T
Total liabilities$335.4B$350.1B$355.3B$389.2B$422.4B$448.5B$466.8B$499.2B$502.2B$502.5B
Shareholders' equity$282.1B$348.3B$348.7B$424.8B$436.7B$506.2B$473.4B$561.3B$649.4B$717.4B
Cash flow
Operating cash flow$32.6B$45.7B$37.4B$38.7B$39.8B$39.4B$37.4B$49.2B$30.6B$46.0B
Capital expenditure$13.0B$11.7B$14.5B$16.0B$13.0B$13.3B$15.5B$19.4B$19.0B$20.9B
Free cash flow$19.7B$34.0B$22.9B$22.7B$26.8B$26.2B$21.9B$29.8B$11.6B$25.0B
Share buybacks——$1.35B$4.85B$24.7B$27.1B$7.85B$9.17B$2.92B—

From Berkshire Hathaway's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Berkshire Hathaway vs the Financials sector and the S&P 500

Berkshire Hathaway's latest reported figures next to the median of the other 75 S&P 500 Financials companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Berkshire Hathaway compared with the median Financials company and the median S&P 500 company
MeasureBerkshire HathawayFinancials (75 other S&P 500 companies)S&P 500 (502 other companies)
Revenue growth, latest fiscal year+0.0%+7.2%+7.0%
Net margin, latest fiscal year18.0%19.4%12.9%
Share price change, 1 year+7.7%+5.0%+5.6%

Berkshire Hathaway: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Berkshire Hathaway included, are the last regular-session prices of October 19, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 75/496, net margin 75/496, 1-year price change 75/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Berkshire Hathaway

Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger. Greg Abel succeeded Buffett as CEO at the beginning of 2026. Buffett personally owns 38.4% of the Class A voting shares of Berkshire Hathaway, representing a 15.1% overall economic interest in the company.

Source: Wikipedia — Berkshire Hathaway

Headquarters
Omaha, Nebraska From SEC filings, Oct 2026

Company profile

Berkshire Hathaway Inc., domiciled in Delaware and headquartered in Omaha, Nebraska, describes itself in its annual report for fiscal 2025 (Form 10-K) as a holding company owning subsidiaries engaged in numerous diverse business activities. The 10-K says the most important of these are insurance businesses, conducted on both a primary basis and a reinsurance basis, a freight rail transportation business (BNSF) and a group of utility and energy generation and distribution businesses (Berkshire Hathaway Energy), and that Berkshire also owns and operates numerous other manufacturing, services and retailing businesses, including McLane and Pilot Travel Centers. It says its operating subsidiaries "are managed on an unusually decentralized basis". Berkshire and its subsidiaries employed approximately 387,800 people worldwide at the end of 2025, about 80% of them in the U.S. (10-K).

Berkshire has two classes of common stock, both listed on the New York Stock Exchange: Class A (BRK.A) and Class B (BRK.B). As filed in the 10-K, each Class A share has one vote; each Class B share has dividend and distribution rights equal to 1/1,500 of a Class A share and voting rights equal to 1/10,000 of a Class A share; each Class A share is convertible at the holder's option into 1,500 Class B shares, while Class B shares are not convertible into Class A. On an equivalent Class A basis there were 1,438,223 shares outstanding at December 31, 2025. The 10-K says Berkshire has not declared a cash dividend since 1967.

For 2025 the consolidated statements of earnings report total revenues of $371,444 million, investment gains of $39,078 million (shown separately from revenues), earnings before income taxes of $82,459 million and net earnings attributable to Berkshire shareholders of $66,968 million, or $46,563 per average equivalent Class A share and $31.04 per average equivalent Class B share. At December 31, 2025 total assets were $1,222,176 million and Berkshire shareholders' equity $717,419 million, and its insurance and other businesses held cash, cash equivalents and U.S. Treasury Bills (net of payables for unsettled purchases) of $369.0 billion. The 10-K says there were no share repurchases in 2025 (10-K).

In its news release for 2025, Berkshire reported operating earnings, a non-GAAP measure it defines as net earnings exclusive of investment gains (losses), impairments of goodwill and intangible assets and other-than-temporary impairments of equity method investments, of $44,486 million; that figure excludes after-tax other-than-temporary impairments of its investments in Kraft Heinz and Occidental of $8,255 million. It said insurance float was approximately $176 billion at December 31, 2025 (Form 8-K exhibit).

According to its 10-Q for the quarter ended June 30, 2026 (unaudited), total revenues were $101,808 million for the second quarter and $195,483 million for the first six months, and net earnings attributable to Berkshire shareholders were $25,667 million for the quarter, including investment gains of $16,077 million before tax. Berkshire completed its acquisition of Occidental Petroleum's chemicals business (OxyChem) on January 2, 2026 for approximately $9.4 billion, and of homebuilder Taylor Morrison Home Corporation on July 24, 2026 for aggregate cash consideration of approximately $6.8 billion (10-Q).

Gregory E. Abel became Chief Executive Officer on January 1, 2026, succeeding Warren E. Buffett, who remains Chairman of the Board (10-K). Ajit Jain is Vice Chairman of the insurance operations and Adam Johnson President of the Consumer Products, Service and Retailing operations, each reporting directly to Mr. Abel (10-K, Item 1A). Charles C. Chang succeeded Marc D. Hamburg as Chief Financial Officer on June 1, 2026, as first announced on December 8, 2025 (Form 8-K filed December 11, 2025) and confirmed in a Form 8-K filed May 7, 2026; he signed the 10-Q for the quarter ended June 30, 2026 as Senior Vice President and Principal Financial Officer.

Summary sources:12345

$371,444 million1
Total revenues, 2025
$88,902 million1
Insurance premiums earned, 2025
$199,524 million1
Sales and service revenues, 2025
$39,078 million1
Investment gains (losses), 2025 (pre-tax, presented separately from revenues)
$82,459 million1
Earnings before income taxes, 2025
$66,968 million1
Net earnings attributable to Berkshire shareholders, 2025
$46,5631
Net earnings per average equivalent Class A share, 2025
$31.041
Net earnings per average equivalent Class B share, 2025
$44,486 million2
Operating earnings, 2025 (non-GAAP, as defined by Berkshire)
$1,222,176 million1
Total assets, December 31, 2025
$717,419 million1
Berkshire shareholders' equity, December 31, 2025
$369.0 billion1
Cash, cash equivalents and U.S. Treasury Bills of insurance and other businesses, net of unsettled purchases, December 31, 2025
$176 billion1
Insurance float, December 31, 2025 (approximate)
$46.0 billion1
Net operating cash flows, 2025
$20.9 billion1
Capital expenditures, 2025 (property, plant and equipment and equipment held for lease)
387,8001
Employees, end of 2025 (approximate)
511,8201
Class A shares outstanding, January 31, 2026 (10-K cover)
1,389,605,1391
Class B shares outstanding, January 31, 2026 (10-K cover)
$101,808 million3
Total revenues, quarter ended June 30, 2026 (unaudited)
$195,483 million3
Total revenues, six months ended June 30, 2026 (unaudited)
$25,667 million3
Net earnings attributable to Berkshire shareholders, quarter ended June 30, 2026 (unaudited)
$11.913
Net earnings per average equivalent Class B share, quarter ended June 30, 2026 (unaudited)
$1,263,071 million3
Total assets, June 30, 2026 (unaudited)
$747,910 million3
Berkshire shareholders' equity, June 30, 2026 (unaudited)
$359.2 billion3
Cash, cash equivalents and U.S. Treasury Bills of insurance and other businesses, net of unsettled purchases, June 30, 2026
488,4503
Class A shares outstanding, July 29, 2026 (10-Q cover)
1,408,035,1613
Class B shares outstanding, July 29, 2026 (10-Q cover)
$12,983 million6
Operating earnings, quarter ended June 30, 2026 (non-GAAP, as defined by Berkshire)
about $4.8 billion6
Treasury shares acquired, first six months of 2026 (approximate, as reported August 8, 2026)
$177.5 billion6
Insurance float, June 30, 2026 (approximate)

Revenue by fiscal year, as reported in 10-K

Fiscal yearRevenue (as reported in 10-K)Reported asFiled
2021$276,094 million7Form 10-K for fiscal year 2021 (year ended December 31, 2021), total revenues, in millions as filed (investment and derivative contract gains shown separately); the 10-K for fiscal 2023 presents this year as $276,185 millionFeb 28, 2022
2022$302,089 million8Form 10-K for fiscal year 2022 (year ended December 31, 2022), total revenues, in millions as filed (investment and derivative contract gains or losses shown separately); later 10-Ks (fiscal 2023 and 2024) present this year as $302,020 millionFeb 27, 2023
2023$364,482 million9Form 10-K for fiscal year 2023 (year ended December 31, 2023), total revenues, in millions as filed (investment and derivative contract gains or losses shown separately)Feb 26, 2024
2024$371,433 million10Form 10-K for fiscal year 2024 (year ended December 31, 2024), total revenues, in millions as filed (investment gains shown separately)Feb 24, 2025
2025$371,444 million1Form 10-K for fiscal year 2025 (year ended December 31, 2025), total revenues, in millions as filed (investment gains shown separately)Mar 2, 2026

Segments and products

Risks

Frequently asked questions

What does Berkshire Hathaway do?
Berkshire Hathaway is a holding company whose subsidiaries are in insurance and reinsurance (GEICO, Berkshire Hathaway Primary Group and Berkshire Hathaway Reinsurance Group), freight rail (BNSF), utilities and energy (Berkshire Hathaway Energy), and many manufacturing, service and retailing businesses, including McLane and Pilot Travel Centers, according to its 10-K for 2025. It also holds large investments in equity securities.
What is the difference between BRK.A and BRK.B shares?
According to its 10-K, each Class A share has one vote, while each Class B share has 1/1,500 of a Class A share's dividend and distribution rights and 1/10,000 of its voting rights. A Class A share can be converted by its holder into 1,500 Class B shares, but Class B shares cannot be converted into Class A. Both trade on the New York Stock Exchange, as BRK.A and BRK.B.
How much revenue did Berkshire Hathaway make in 2025?
Total revenues were $371,444 million in 2025, compared with $371,433 million in 2024, according to its 10-K. Investment gains of $39,078 million are shown separately from revenues. Net earnings attributable to Berkshire shareholders were $66,968 million.
What are Berkshire Hathaway's operating earnings?
Operating earnings are a non-GAAP measure Berkshire defines as net earnings excluding investment gains (losses), impairments of goodwill and intangible assets and other-than-temporary impairments of equity method investments. It reported operating earnings of $44,486 million for 2025 (news release filed March 2, 2026) and $12,983 million for the quarter ended June 30, 2026 (news release filed August 11, 2026).
What were Berkshire Hathaway's latest quarterly results?
For the quarter ended June 30, 2026, its 10-Q (unaudited) reports total revenues of $101,808 million and net earnings attributable to Berkshire shareholders of $25,667 million, or $11.91 per average equivalent Class B share, including investment gains of $16,077 million before tax.
Does Berkshire Hathaway pay a dividend?
No. Its 10-K for 2025 says Berkshire has not declared a cash dividend since 1967.
Does Berkshire Hathaway buy back its own shares?
Its program allows repurchases when the Chief Executive Officer, after consulting the Chairman, believes the price is below Berkshire's intrinsic value, conservatively determined, but not if consolidated cash, cash equivalents and U.S. Treasury Bills would fall below $30 billion. There were no repurchases in 2025 (10-K). In its August 8, 2026 news release Berkshire said it acquired approximately $4.5 billion in treasury shares in the second quarter of 2026, about $4.8 billion in the first six months.
Who runs Berkshire Hathaway?
Gregory E. Abel became Chief Executive Officer on January 1, 2026, succeeding Warren E. Buffett, who remains Chairman of the Board (10-K for 2025). Berkshire announced on December 8, 2025 that Charles C. Chang would succeed Marc D. Hamburg as Senior Vice President and Chief Financial Officer on June 1, 2026 (Form 8-K filed December 11, 2025); a Form 8-K filed May 7, 2026 repeats that date, and he signed the 10-Q for the quarter ended June 30, 2026 as Senior Vice President and Principal Financial Officer.
How much cash does Berkshire Hathaway have?
Its insurance and other businesses held cash, cash equivalents and U.S. Treasury Bills, net of payables for unsettled purchases, of $369.0 billion at December 31, 2025 (10-K) and $359.2 billion at June 30, 2026 (10-Q).
What is Berkshire Hathaway's insurance float?
Float is the approximate net policyholder funds generated by its insurance businesses that are held for investment. The 10-K puts it at approximately $176 billion at December 31, 2025, and the August 8, 2026 news release at approximately $177.5 billion at June 30, 2026.
What companies has Berkshire Hathaway bought recently?
It acquired Occidental Petroleum's chemicals business, OxyChem, on January 2, 2026 for approximately $9.4 billion, and homebuilder Taylor Morrison Home Corporation on July 24, 2026 for aggregate cash consideration of approximately $6.8 billion, according to its 10-Q for the quarter ended June 30, 2026.

Sources

  1. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 10-K for the fiscal year ended December 31, 2025, Mar 2, 2026
  2. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 8-K, Item 2.02, Exhibit 99.1: news release dated February 28, 2026 on results for the fourth quarter and full year 2025, Mar 2, 2026
  3. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 10-Q for the quarterly period ended June 30, 2026 (unaudited), Aug 10, 2026
  4. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 8-K, Item 5.02: Chief Financial Officer succession announced December 8, 2025, Dec 11, 2025
  5. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 8-K, Items 2.02, 5.02, 5.03 and 5.07: Chief Financial Officer succession, by-law amendment and 2026 annual meeting voting results, May 7, 2026
  6. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 8-K, Item 2.02, Exhibit 99.1: news release dated August 8, 2026 on results for the second quarter and first six months of 2026, Aug 11, 2026
  7. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 10-K for the fiscal year ended December 31, 2021, Feb 28, 2022
  8. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 10-K for the fiscal year ended December 31, 2022, Feb 27, 2023
  9. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 10-K for the fiscal year ended December 31, 2023, Feb 26, 2024
  10. Berkshire Hathaway Inc. (SEC filing), Berkshire Hathaway Inc. Form 10-K for the fiscal year ended December 31, 2024, Feb 24, 2025

Figures last checked against the sources above on . General information, not investment advice.

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