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BRK-A

Berkshire Hathaway Inc.

BRK-A

Berkshire Hathaway Inc. • NYSE
$770100.00 ▲ 0.29% (+2234.40)
Market Cap $1.11 T
52w High $812855.00
52w Low $660640.00
Dividend Yield 0%
P/E 16.42
Volume 194
Outstanding Shares 1.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $94.972B ▲ $6.718B ▼ $30.796B ▲ 32.426% ▲ $14.275 ▼ $42.699B ▲
Q2-2025 $92.515B ▲ $6.731B ▼ $12.37B ▲ 13.371% ▲ $8.6K ▲ $19.332B ▲
Q1-2025 $90.191B ▼ $30.904B ▲ $4.603B ▼ 5.104% ▼ $3.2K ▼ $9.67B ▼
Q4-2024 $98.098B ▲ $-13.088B ▼ $19.694B ▼ 20.076% ▼ $13.695K ▼ $28.748B ▼
Q3-2024 $95.088B $16.391B $26.251B 27.607% $18.27K $36.928B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $381.673B ▲ $1.226T ▲ $525.522B ▲ $698.155B ▲
Q2-2025 $344.091B ▼ $1.164T ▼ $493.692B ▼ $667.989B ▲
Q1-2025 $347.681B ▲ $1.165T ▲ $507.79B ▲ $654.471B ▲
Q4-2024 $334.201B ▲ $1.154T ▲ $502.226B ▼ $649.368B ▲
Q3-2024 $325.212B $1.147T $515.445B $629.069B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $30.796B ▲ $13.789B ▲ $-39.052B ▼ $835M ▲ $-24.18B ▼ $8.203B ▲
Q2-2025 $12.37B ▲ $10.085B ▼ $49.358B ▲ $-1.166B ▼ $58.306B ▲ $5.227B ▼
Q1-2025 $4.672B ▼ $10.903B ▲ $-16.401B ▼ $53M ▼ $-5.521B ▼ $6.622B ▲
Q4-2024 $19.751B ▼ $4.621B ▲ $4.268B ▲ $1.653B ▲ $10.384B ▲ $-726M ▲
Q3-2024 $26.48B $1.803B $-3.904B $-3.065B $-5.079B $-2.898B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Berkshire Hathaway Energy Company
Berkshire Hathaway Energy Company
 $6.24Bn ▲$0 ▼$6.42Bn ▲$7.30Bn ▲
Berkshire Hathaway Insurance Group
Berkshire Hathaway Insurance Group
 $27.74Bn ▲$25.38Bn ▼$26.25Bn ▲$26.18Bn ▼
Burlington Northern Santa Fe Corporation
Burlington Northern Santa Fe Corporation
 $6.17Bn ▲$5.72Bn ▼$5.77Bn ▲$6.04Bn ▲
Manufacturing Businesses
Manufacturing Businesses
 $19.19Bn ▲$18.77Bn ▼$19.97Bn ▲$20.05Bn ▲
Mc Lane Company
Mc Lane Company
 $14.25Bn ▲$12.18Bn ▼$12.60Bn ▲$13.19Bn ▲
Pilot Travel Centers Pilot
Pilot Travel Centers Pilot
 $0 ▲$0 ▲$10.11Bn ▲$10.88Bn ▲
Service And Retailing Businesses
Service And Retailing Businesses
 $0 ▲$0 ▲$10.69Bn ▲$10.59Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Berkshire’s income statement shows a very large, diversified business that has grown steadily over the past five years, with only a brief setback during the market turbulence of 2022. Revenue has climbed meaningfully as the railroad, energy, insurance, and manufacturing units expanded. Profitability has generally been strong, but reported earnings have swung around because accounting rules force Berkshire to run unrealized investment gains and losses through net income. That’s why you see an apparent earnings “hole” in 2022 and much stronger figures before and after. Underneath those accounting swings, core operating earnings look robust and directionally stable, suggesting the underlying businesses are performing well even when reported net income looks noisy.

Balance Sheet

Balance Sheet The balance sheet is one of Berkshire’s defining strengths. Total assets and shareholder equity have risen consistently, reflecting retained earnings and the compounding of past investments. Debt has grown only modestly over time and remains small relative to the company’s size and earning power, helping preserve a conservative financial profile. Cash levels have fluctuated, with an unusually high peak a few years ago and somewhat lower—but still very large—cash reserves more recently. Overall, Berkshire continues to have a “fortress” balance sheet, with ample capacity to withstand shocks and pursue large opportunities when they appear.

Cash Flow

Cash Flow Cash generation from operations has been steady and substantial over the last five years, comfortably funding ongoing capital spending and still leaving room for excess cash. Free cash flow has remained positive throughout, even as Berkshire has continued to invest heavily in long-lived assets, especially in its energy and rail businesses. Operating cash flow was somewhat higher in the middle of the period than in the most recent year, but not in a way that suggests structural weakness. The pattern points to a company that consistently turns its accounting profits into real cash and reinvests a meaningful portion back into the business for long-term growth.

Competitive Edge

Competitive Edge Berkshire’s competitive position is anchored in a combination of scale, diversification, reputation, and its insurance “float.” It owns leading businesses in rail, utilities, insurance, and various industrial and consumer niches, which spreads risk across the economic cycle. The insurance operations provide a large pool of low-cost capital that can be invested elsewhere, giving Berkshire a structural funding advantage that is hard for rivals to copy. Its decentralized model attracts strong managers who value autonomy and a permanent home for their businesses, reinforcing its reputation as a preferred buyer. Many key subsidiaries—such as BNSF Railway, Berkshire Hathaway Energy, and GEICO—operate in industries with high barriers to entry, entrenched brands, or regulatory protections, all of which help sustain Berkshire’s moat over time.

Innovation and R&D

Innovation and R&D Berkshire does not operate like a typical tech or pharma company with a big central R&D budget. Instead, innovation is pushed down into its operating companies and supported through capital allocation. Several important subsidiaries are quietly but meaningfully modernizing: BNSF is using sensors, data analytics, and AI tools to improve safety and efficiency; Berkshire Hathaway Energy is investing heavily in renewable energy, grid modernization, and storage; GEICO is deploying telematics, AI-based claims tools, and advanced analytics; Clayton Homes is developing more energy-efficient, tech-enabled housing. At the parent level, Berkshire has shown a growing willingness to invest in leading technology platforms such as Apple and Alphabet. Overall, innovation here is evolutionary rather than flashy—focused on upgrading core operations, adopting modern technology, and backing external tech leaders, rather than trying to invent entirely new categories itself.

Summary

Berkshire Hathaway combines steady, underlying business growth with occasional headline volatility driven mostly by investment accounting, not by operational weakness. Its financial position remains exceptionally strong, with rising equity, moderate debt, and significant cash, giving it substantial resilience and flexibility. Cash flows are healthy and consistently positive after investment spending, supporting ongoing reinvestment in core infrastructure-heavy businesses. Competitively, Berkshire benefits from a rare mix of durable moats at both the corporate and subsidiary levels, reinforced by its unique insurance float and trusted reputation. While it is not an R&D-led innovator, it is steadily modernizing its core businesses and selectively embracing technology and sustainability trends. The overall picture is of a very large, conservatively financed conglomerate using a long-term, incremental approach to build value across cycles.

NEWS

November 10, 2025 · 12:26 PM UTC

Berkshire Hathaway Inc. News Release

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November 6, 2025 · 6:28 PM UTC

Berkshire Hathaway Inc.

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November 6, 2025 · 5:00 AM UTC

Berkshire Hathaway Specialty Insurance Names Frederic de Blieck as Country Manager, Belgium

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November 1, 2025 · 8:00 AM UTC

Berkshire Hathaway Inc. News Release

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October 29, 2025 · 6:00 AM UTC

Berkshire Hathaway Inc. Information Regarding Third Quarter Earnings Release

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