BERKSHIRE HATHAWAY INCBRK-B
BERKSHIRE HATHAWAY INC Financial Overview 2021–2025
Updated Jul 10, 2026Berkshire Hathaway’s reported net income swung wildly from a $22.8 billion 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 billion 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 billion 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 trillion 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 billion. 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.
Rev
$371.44B
FY2025
NI
$67.26B
FY2025
EPS$BRK-B
—
OCF
$45.97B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
BERKSHIRE HATHAWAY INC 8-K Report, Financial Results (May 7, 2026)
Berkshire Hathaway Inc. (BRK-B) filed an 8-K on May 7, 2026, reporting on its first-quarter 2026 financial results, key executive and board matters, and shareholder meeting outcomes. The company released its Q1 2026 earnings on May 2, 2026, the details of which are incorporated by reference. A significant personnel change involves Charles C. Chang succeeding Marc D. Hamburg as Chief Financial Officer on June 1, 2026, with Mr. Chang to receive an annual salary of $8,000,000. In recognition of his service, Mr. Hamburg will receive a retirement benefit of up to 30 flight hours annually on a NetJets aircraft for a period of up to 11 years, with an estimated annual cost to Berkshire of $490,000, including tax gross-ups. Additionally, the company's Board of Directors amended and restated the By-Laws on May 3, 2026, to align officer roles with the current operating structure. The annual shareholder meeting, held on May 2, 2026, saw the re-election of all directors with strong support. Shareholders also approved executive compensation in a non-binding vote, but opted for an advisory vote on executive compensation every three years. A shareholder proposal requesting a report on workforce and human-capital management oversight was not approved.
BERKSHIRE 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.
BERKSHIRE 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).
BERKSHIRE HATHAWAY INC 8-K Report, Financial Results (Mar 2, 2026)
Berkshire Hathaway Inc. (BRK-B) has filed an 8-K report on March 2, 2026, primarily to announce its fourth quarter and full year financial results for the period ended December 31, 2025. The key information for investors is contained within the earnings press release, which was issued on February 28, 2026, and is furnished as an exhibit to this filing. While the 8-K itself does not detail the specific financial figures, it serves as the official notification to the market that these results are now public. Investors should refer to the accompanying press release (Exhibit 99.1) for comprehensive details on Berkshire Hathaway's operational performance, financial condition, and profitability for the year 2025. This includes revenue, net earnings, earnings per share, segment performance, and any forward-looking statements or management commentary provided by the company.
BERKSHIRE HATHAWAY INC 8-K/A Report, Executive Changes (Jan 6, 2026)
This 8-K/A filing from Berkshire Hathaway Inc. (BRK-B) primarily serves to update information regarding the compensation of its new President and Chief Executive Officer, Greg Abel. Effective January 1, 2026, Mr. Abel's annual cash salary has been set at $25 million. This adjustment reflects his elevated role and responsibilities following his appointment as CEO, a transition that was previously announced. Investors should note that this filing confirms the finalized compensation for the company's top executive and provides transparency on this significant personnel change.
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