BRK.BNYSEFire, Marine & Casualty InsuranceFiscal year ends December 31Also trades as BRK.A
BERKSHIRE HATHAWAY INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$532.23+0.21 (+0.04%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
–
Net margin
18.0%+0.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.0% | +7.1% | +8.6% | +5.8% | |
| Net income | -24.8% | – | +9.5% | +10.8% | |
| Free cash flow | +115.6% | +4.6% | -1.3% | +5.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.0% | 9.9% | 9.8% | |
| Return on assets | 4.1% | 5.0% | 5.6% | |
| Capex to revenue | 6.0% | 5.3% | 5.6% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Berkshire Hathaway generated $202.53B from operations and spent $135.06B on capital expenditure, dividends and share buybacks. 65% of that went back into the business.
Generated
$202.53B
Used
$135.06B
Capital expenditure$88.05B65%Dividends$00%Share buybacks$47.00B35%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin18.0%
×Asset turnover0.31×
×Equity multiplier1.74×
=Return on equity, FY20259.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 18.0% | 0.31× | 1.74× | 9.8% |
| FY2024 | 24.0% | 0.33× | 1.84× | 14.7% |
| FY2023 | 26.4% | 0.36× | 1.95× | 18.6% |
| FY2022 | -7.5% | 0.32× | 1.95× | -4.6% |
| FY2021 | 32.6% | 0.30× | 1.94× | 19.1% |
| FY2020 | 17.3% | 0.29× | 1.96× | 9.9% |
| FY2019 | 32.0% | 0.33× | 1.97× | 21.1% |
| FY2018 | 1.6% | 0.35× | 2.02× | 1.2% |
| FY2017 | 18.7% | 0.36× | 2.10× | 14.3% |
| FY2016 | 11.2% | 0.37× | 2.18× | 9.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$66.97B
- Cash generatingOperating cash flow above zero$45.97B
- Return on assets improvedROA up on the prior year8.3% → 5.8%
- Earnings backed by cashOperating cash flow above net income$45.97B vs $66.97B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.35 → 0.32