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BERKSHIRE HATHAWAY INCBRK-B

Sector
Financial Services
Industry
Fire, Marine & Casualty Insurance
Exchange
NYSE

Stock Price $BRK-B

Latest filings

You are here#1 of 58 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K81

BRK-B filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 81 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jan ’18Jan ’18
  2. FY2020 annual report10-K · Mar ’21Mar ’21
  3. Leadership change8-K · May ’25May ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $371.44B
YoY changeLargest recent move+20.7%in FY23Latest +0.0%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All BRK-B Financial Metrics35 metrics

Income Statement10

Balance Sheet13

Cash Flow10

Per Share2

02—Overview

BERKSHIRE HATHAWAY INC Financial Overview 2021–2025

Updated Jul 10, 2026

Berkshire Hathaway’s reported net income swung wildly from a $22.8 billiona loss in FY2022 to a $96.2 billion profit in FY2023, driven entirely by unrealized paper fluctuations in its massive equity portfolio. Beneath this accounting-induced volatility lies a clear investment thesis: Berkshire is a relentlessly compounding cash machine that uses its diversified insurance, energy, and railroad operations to fund opportunistic acquisitions and share buybacks.

The conglomerate's underlying financial engine continues to expand its massive balance sheet. Consolidated shareholders' equity grew from $506.2 billion in FY2021 to $700.44 billionb heading into the close of FY2025. Along the way, the company aggressively deployed capital, repurchasing $27.1 billion in stock during FY2021 and acquiring Alleghany Corporation for $11.5 billion in 2022. More recently, the company expanded its industrial footprint by agreeing to acquire Occidental Petroleum's chemicals business for $9.7 billion in late 2025.

Despite macroeconomic headwinds and a $5.0 billionc impairment charge on Kraft Heinz in 2025, Berkshire continues to stockpile capital at an unprecedented rate. Total liquidity—comprising cash, cash equivalents, and U.S. Treasury Bills—surged to $373.5 billion by Q1 2026. The market valued this fortress balance sheet at a closing price of $502.65 per share at the end of FY2025, shortly before the historic transition to new CEO Greg Abel.

Recent Developments (Q4 2025 and Q1 2026)

Berkshire Hathaway’s total assets reached $1.25 trilliond in Q1 2026, up from $1.22 trillion at the close of 2025. Net earnings surged to $10.1 billion for the quarter, compared to $4.6 billion in Q1 2025. This growth was supported by insurance underwriting pre-tax earnings rising to $2.3 billion from $1.7 billion. Investment losses also narrowed to $1.6 billion from a $6.4 billion loss a year prior. Management resumed stock repurchases in March 2026 and issued multiple tranches of Yen-denominated senior notes in April 2026. Additionally, Charles C. Chang will assume the CFO role on June 1, 2026.

Bulls emphasize growth across operating divisions, with manufacturing, service, and retailing combined pre-tax earnings increasing to $4.2 billione. Conversely, bears might argue the stock appears richly valued at a close of $468.52 as of May 4, 2026, pointing to ongoing unrealized equity portfolio losses and real estate litigation accruals.

What to watch: execution of the CFO transition; impact of Yen-denominated debt issuances on capital allocation.

03—Filings

Recent SEC Filings

  1. 8-KBERKSHIRE HATHAWAY INC 8-K Report, Financial Results (Aug 11, 2026)Berkshire Hathaway's 8-K (furnished under Item 2.02) reports second-quarter 2026 results: net earnings attributable to Berkshire shareholders of $25.7 billion, versus $12.4 billion in Q2 2025, and $35.8 billion for the first six months versus $17.0 billion a year earlier. The headline increase is driven mainly by investment gains, which were $12.7 billion in the quarter, largely from changes in unrealized gains on equity securities. Management explicitly cautions that quarterly investment gains are usually meaningless for assessing performance, so the more relevant figure is operating earnings. Operating earnings, which exclude investment gains and impairments, rose to $13.0 billion in Q2 2026 from $11.2 billion in Q2 2025, an increase of about 16%. For the first six months, operating earnings were $24.3 billion versus $20.8 billion. Growth came from manufacturing, service and retailing (up to $4.5 billion from $3.6 billion), BNSF (up to $1.6 billion), and Berkshire Hathaway Energy (up to $0.9 billion). Insurance underwriting declined to $1.7 billion from $2.0 billion, and insurance investment income fell to $3.1 billion from $3.4 billion. The 'Other' category benefited from $326 million of foreign currency gains on non-U.S. dollar debt, compared with a $877 million loss a year earlier. Capital allocation remained active: Berkshire repurchased about $4.5 billion of stock in Q2 and roughly $4.8 billion year to date. Insurance float reached approximately $177.5 billion at June 30, 2026, up about $1.1 billion since year-end 2025. Investors should note that the release itself is brief and recommends reading the 10-Q for full detail.
  2. 8-KBERKSHIRE HATHAWAY INC 8-K Report, Financial Results (May 7, 2026)Berkshire Hathaway reported first-quarter 2026 net earnings attributable to shareholders of $10.1 billion, up from $4.6 billion a year earlier. The headline improvement is driven largely by investment results: investment gains were a loss of $1.24 billion, versus a loss of $5.04 billion in Q1 2025, and the release notes that GAAP requires unrealized changes in equity holdings to flow through earnings, so this line is noisy and not indicative of operating performance. The more meaningful measure is operating earnings, which rose about 18% to $11.3 billion from $9.6 billion, led by higher underwriting profit ($1.72 billion vs. $1.34 billion), a sharp jump in the 'Other' category to $1.26 billion (helped by $249 million of foreign currency gains versus $713 million of losses a year earlier), and modest growth at BNSF, BHE and manufacturing, service and retailing. Insurance investment income fell to $2.68 billion from $2.89 billion. Balance-sheet and per-share context: insurance float rose about $0.5 billion since year-end 2025 to roughly $176.9 billion. Net earnings per average equivalent Class A share were $7,027 versus $3,200, and per Class B share $4.68 versus $2.13. Governance and leadership items were also disclosed. Charles C. Chang will succeed Marc D. Hamburg as CFO on June 1, 2026, at an $8 million annual salary. Hamburg is receiving a NetJets flight-hour benefit estimated at about $490,000 per year through 2037. The board amended and restated the by-laws effective May 3, 2026, mainly to align officer roles with the current operating structure. At the May 2 annual meeting, all director nominees were elected, though Greg Abel and others faced varying levels of withheld votes; the say-on-pay proposal passed with a large majority, and shareholders voted for a triennial frequency for future advisory votes. A shareholder proposal on a workforce and human-capital oversight report was defeated.
  3. 8-KBERKSHIRE HATHAWAY INC 8-K Report, Corporate Update (Apr 16, 2026)Berkshire Hathaway Inc. has announced the issuance of substantial new debt through a series of senior notes denominated in Japanese Yen (JPY). On April 16, 2026, the company successfully priced and issued six tranches of notes totaling a significant aggregate principal amount in JPY, with maturities ranging from 2029 to 2056. These notes carry varying interest rates, from 2.077% to 4.037%, reflecting the different maturity profiles and market conditions at the time of issuance. The offering was conducted under a previously filed Form S-3 registration statement and was facilitated by an underwriting agreement with Mizuho Securities USA LLC and Merrill Lynch International. This move represents Berkshire Hathaway's continued strategy of accessing diverse capital markets to fund its ongoing operations and strategic initiatives, leveraging its strong credit standing to secure favorable terms for its long-term financing. Investors should note that the issuance comprises a mix of short, medium, and long-term debt, indicating a strategic approach to managing its capital structure and debt maturities. The specific amounts and interest rates of each tranche are detailed, providing transparency into the cost of this new capital. The fact that these notes are registered under a Form S-3 and filed with the SEC highlights Berkshire Hathaway's commitment to regulatory compliance and disclosure. The specific use of proceeds is not detailed in this filing, but such debt issuances are typically aimed at supporting acquisitions, capital expenditures, or general corporate purposes, potentially enhancing the company's financial flexibility and capacity for future growth opportunities.
  4. 8-KBERKSHIRE HATHAWAY INC 8-K Report, Corporate Update (Mar 5, 2026)Berkshire Hathaway Inc. (BRK-B) has announced the recommencement of its common stock repurchase program, effective March 4, 2026. This move, disclosed via an 8-K filing, signals management's belief that the company's Class A and Class B shares are trading below their intrinsic value. Investors should note that this policy is flexible, with no obligation to repurchase a specific number of shares and the flexibility to repurchase in open markets or private transactions. Repurchases can be suspended or discontinued at any time without prior notice, and Berkshire does not commit to providing interim updates beyond their standard periodic filings (10-Q and 10-K).
  5. 8-KBERKSHIRE HATHAWAY INC 8-K Report, Financial Results (Mar 2, 2026)Berkshire Hathaway's February 28, 2026 earnings release (furnished under Form 8-K on March 2, 2026) reports fourth-quarter and full-year 2025 results. Net earnings attributable to Berkshire shareholders fell to $19.2 billion in Q4 2025 (from $19.7 billion a year earlier) and to $67.0 billion for full-year 2025 (from $89.0 billion in 2024). However, these headline figures are heavily distorted by investment gains and losses, which the company explicitly warns are not meaningful for assessing quarterly business performance. Investment gains were $13.5 billion in Q4 and $30.7 billion for the full year, and the release also records other-than-temporary impairments of $4.5 billion in Q4 and $8.3 billion for the year on Kraft Heinz and Occidental holdings. The better gauge of underlying business performance is operating earnings, which declined to $10.2 billion in Q4 2025 from $14.5 billion in Q4 2024, and to $44.5 billion for the full year from $47.4 billion. The decline was driven primarily by lower insurance underwriting earnings ($7.3 billion for 2025 versus $9.0 billion in 2024) and lower insurance investment income ($12.5 billion versus $13.7 billion). Partial offsets came from higher BNSF ($5.5 billion versus $5.0 billion), Berkshire Hathaway Energy ($4.0 billion versus $3.7 billion), and manufacturing, service and retailing ($13.6 billion versus $13.1 billion) earnings. Insurance float reached approximately $176 billion at year-end 2025, up $5 billion for the year. Berkshire's release itself urges investors to read the 2025 Annual Report rather than rely on the limited data in the press release, which it states is not adequate for making an informed investment judgment. Investors should therefore treat this 8-K as a summary and direct their analysis to the full annual report for detail on capital allocation, cash position, and segment dynamics.
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04—See also

Related Companies

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