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Berkshire Hathaway (BRK.A) Financials

Berkshire Hathaway logo
$698,312.56 -1,687.32 (-0.24%)
Closing price 08/8/2025 03:59 PM Eastern
Extended Trading
$698,313.00 +0.44 (+0.00%)
As of 08/8/2025 04:03 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Berkshire Hathaway

Annual Income Statements for Berkshire Hathaway

This table shows Berkshire Hathaway's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
19,872 24,083 24,074 44,940 4,021 81,417 42,521 89,937 -22,759 96,223 88,995
Consolidated Net Income / (Loss)
20,170 24,414 24,427 45,353 4,322 81,792 43,253 90,949 -21,998 97,147 89,561
Net Income / (Loss) Continuing Operations
20,170 24,414 24,427 45,353 4,322 81,792 43,253 90,949 -21,998 97,147 89,561
Total Pre-Tax Income
28,105 34,946 33,667 23,838 4,001 102,696 55,693 111,861 -30,500 120,166 110,376
Total Operating Income
31,384 38,583 27,995 23,082 32,476 32,874 18,373 36,605 39,888 48,341 60,936
Total Gross Profit
113,068 120,999 74,535 74,472 86,146 136,279 132,850 79,446 81,327 97,114 111,587
Total Revenue
194,699 210,943 215,114 239,933 247,837 254,616 245,579 276,185 302,020 364,482 371,433
Operating Revenue
194,193 209,969 215,114 239,933 247,837 254,616 245,579 276,185 302,020 364,482 371,433
Total Cost of Revenue
81,631 89,944 140,579 165,461 161,691 118,337 112,729 196,739 220,693 267,368 259,846
Operating Cost of Revenue
81,631 89,944 140,579 165,461 161,691 118,337 112,729 196,739 220,693 267,368 259,846
Total Operating Expenses
81,684 82,416 46,540 51,390 53,670 103,405 114,477 42,841 41,439 48,773 50,651
Selling, General & Admin Expense
13,721 15,309 17,973 19,189 17,856 23,228 24,605 24,458 24,490 29,474 29,985
Other Operating Expenses / (Income)
67,963 67,107 28,567 32,201 35,432 80,081 79,201 18,383 16,949 19,299 20,666
Total Other Income / (Expense), net
-3,279 -3,637 5,672 756 -28,475 69,822 37,320 75,256 -70,388 71,825 49,440
Interest Expense
3,253 3,515 3,741 4,386 3,853 3,961 4,083 4,172 4,352 5,003 5,200
Interest & Investment Income
-26 -122 1,109 3,014 -2,167 1,176 657 886 -66,036 76,828 54,640
Income Tax Expense
7,935 10,532 9,240 -21,515 -321 20,904 12,440 20,912 -8,502 23,019 20,815
Net Income / (Loss) Attributable to Noncontrolling Interest
298 331 353 413 301 375 732 1,012 761 924 566
Basic Earnings per Share
$12,092.00 $14,656.00 $14,645.00 $27,326.00 $2,447.63 $49,861.22 $26,685.78 $59,593.70 ($15,504.33) $66,456.27 $61,941.27
Weighted Average Basic Shares Outstanding
0.00 0.00 0.00 0.00 2.47B 2.45B 2.39B 2.27B 2.20B 2.17B 2.16B
Weighted Average Diluted Shares Outstanding
0.00 0.00 0.00 0.00 1.64M 1.63M 1.34B 1.29B 1.30B 1.31B 1.34B
Weighted Average Basic & Diluted Shares Outstanding
1.64M 1.64M 1.64M 1.64M 1.64M 1.63M 1.34B 1.29B 1.30B 1.31B 1.34B

Quarterly Income Statements for Berkshire Hathaway

This table shows Berkshire Hathaway's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
18,080 35,504 35,912 -12,767 37,574 12,702 30,348 26,251 19,694 4,603 12,370
Consolidated Net Income / (Loss)
18,237 35,757 36,199 -12,567 37,758 12,832 30,498 26,480 19,751 4,672 12,457
Net Income / (Loss) Continuing Operations
18,237 35,757 36,199 -12,567 37,758 12,832 30,498 26,480 19,751 4,672 12,457
Total Pre-Tax Income
22,109 44,752 45,435 -16,959 46,938 15,706 38,137 32,508 24,025 5,148 14,750
Total Operating Income
7,880 10,524 13,112 13,817 10,888 14,653 15,258 12,986 18,039 12,714 14,384
Total Gross Profit
3,201 41,228 24,163 24,666 7,057 49,077 51,571 62,672 -58,553 51,174 52,899
Total Revenue
78,072 85,393 92,503 93,210 93,376 89,869 93,653 92,995 94,916 89,725 92,515
Operating Revenue
78,072 85,393 92,503 93,210 93,376 89,869 93,653 92,995 94,916 89,725 92,515
Total Cost of Revenue
74,871 44,165 68,340 68,544 86,319 40,792 42,082 30,323 153,469 38,551 39,616
Operating Cost of Revenue
74,871 44,165 68,340 68,544 86,319 40,792 42,082 30,323 153,469 38,551 39,616
Total Operating Expenses
-4,679 30,704 11,051 10,849 -3,831 34,424 36,313 49,686 -76,592 38,460 38,515
Selling, General & Admin Expense
8,406 6,473 6,194 6,209 10,598 6,546 7,265 8,428 9,352 8,527 9,082
Other Operating Expenses / (Income)
-13,085 24,231 4,857 4,640 -14,429 27,878 29,048 41,258 -85,944 29,933 29,433
Total Other Income / (Expense), net
14,229 34,228 32,323 -30,776 36,050 1,053 22,879 19,522 5,986 -7,566 366
Interest Expense
1,139 1,218 1,249 1,260 1,276 1,316 1,230 1,214 1,440 1,257 1,253
Interest & Investment Income
-66,994 35,446 33,572 -29,516 37,326 2,369 24,109 20,736 7,426 -6,309 1,619
Income Tax Expense
3,872 8,995 9,236 -4,392 9,180 2,874 7,639 6,028 4,274 476 2,293
Net Income / (Loss) Attributable to Noncontrolling Interest
157 253 287 200 184 130 150 229 57 69 87
Basic Earnings per Share
$12,300.20 $24,393.25 $24,791.52 ($8,829.88) $26,101.38 $8,830.88 $21,136.08 $18,284.18 $13,690.13 $3,202.13 $8,606.73
Weighted Average Basic Shares Outstanding
2.20B 2.19B 2.18B 2.17B 2.17B 2.16B 2.16B 2.16B 2.16B 2.16B 2.16B
Weighted Average Diluted Shares Outstanding
1.30B 1.30B 1.31B 1.31B 1.31B 1.31B 1.33B 1.33B 1.34B 1.34B 1.38B
Weighted Average Basic & Diluted Shares Outstanding
1.30B 1.30B 1.31B 1.31B 1.31B 1.31B 1.33B 1.33B 1.34B 1.34B 1.38B

Annual Cash Flow Statements for Berkshire Hathaway

This table details how cash moves in and out of Berkshire Hathaway's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
14,415 7,128 -38,959 3,569 -1,401 33,821 -16,236 40,310 -52,307 2,244 9,733
Net Cash From Operating Activities
32,010 31,491 32,647 45,728 37,400 38,687 39,773 39,427 37,350 49,196 30,592
Net Cash From Continuing Operating Activities
32,010 31,491 32,647 45,728 37,400 38,330 39,773 39,427 37,350 49,196 30,592
Net Income / (Loss) Continuing Operations
20,170 24,414 24,427 45,353 4,322 81,792 43,253 90,949 -21,998 97,147 89,561
Consolidated Net Income / (Loss)
20,170 24,414 24,427 45,353 4,322 81,792 43,253 90,949 -21,998 97,147 89,561
Depreciation Expense
7,370 7,779 8,901 9,188 9,779 10,064 10,596 10,718 10,899 12,486 12,855
Amortization Expense
- - - - - - - - -1,132 -5,510 -11,349
Non-Cash Adjustments To Reconcile Net Income
-7,849 -9,512 -7,106 -6,422 28,080 -70,670 -26,748 -76,850 67,455 -73,139 -52,617
Changes in Operating Assets and Liabilities, net
12,319 8,810 6,425 -2,391 -4,781 17,144 12,672 14,610 -17,874 18,212 -7,858
Net Cash From Investing Activities
-20,326 -28,001 -84,225 -41,009 -32,849 -5,621 -37,757 29,392 -87,601 -32,663 -10,287
Net Cash From Continuing Investing Activities
-20,326 -28,001 -84,225 -41,009 -32,849 -5,621 -37,757 29,392 -87,601 -32,663 -10,287
Purchase of Property, Plant & Equipment
-15,185 -16,082 -12,954 -11,708 -14,537 -15,979 -13,012 -13,276 -15,464 -19,409 -18,976
Acquisitions
-4,824 -10,160 -31,399 -2,708 -3,279 -1,683 -2,532 -456 -10,594 -8,604 -396
Purchase of Investments
-22,757 -28,111 -113,076 -178,818 -185,054 -154,765 -238,590 -161,085 -251,852 -251,469 -536,079
Sale and/or Maturity of Investments
22,104 25,874 73,398 155,566 171,521 168,032 220,338 203,439 190,070 246,134 545,359
Other Investing Activities, net
336 478 -194 -3,341 -1,500 -1,226 -3,961 770 239 685 -195
Net Cash From Financing Activities
2,731 3,803 12,791 -1,398 -5,812 730 -18,344 -28,508 -1,662 -14,405 -10,360
Net Cash From Continuing Financing Activities
2,731 3,803 12,791 -1,398 -5,812 730 -18,344 -28,508 -1,662 -14,405 -10,360
Repayment of Debt
-4,694 -6,079 -4,458 -9,135 -13,894 -7,964 -8,008 -8,367 -5,907 -15,458 -20,628
Repurchase of Common Equity
- - 0.00 0.00 -1,346 -4,850 -24,706 -27,061 -7,854 -9,171 -2,918
Issuance of Debt
8,690 9,882 17,249 7,737 9,428 13,544 14,370 6,920 12,099 10,224 13,186
Other Net Changes in Cash
- - -172 248 -140 25 92 -1.00 -394 116 -212

Quarterly Cash Flow Statements for Berkshire Hathaway

This table details how cash moves in and out of Berkshire Hathaway's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
3,043 -3,897 18,151 -19,049 7,039 -2,483 6,911 -5,079 10,384 -5,521 58,373
Net Cash From Operating Activities
10,311 8,693 12,434 13,669 14,400 10,566 13,602 1,803 4,621 10,903 10,085
Net Cash From Continuing Operating Activities
10,311 13,991 7,136 13,669 14,400 10,566 13,602 1,803 4,621 10,903 10,085
Net Income / (Loss) Continuing Operations
18,237 35,757 36,199 -12,567 37,758 12,832 30,498 26,480 19,751 4,672 12,457
Consolidated Net Income / (Loss)
18,237 35,757 36,199 -12,567 37,758 12,832 30,498 26,480 19,751 4,672 12,457
Depreciation Expense
2,758 3,051 3,096 3,210 3,129 3,168 3,198 3,206 3,283 3,265 3,329
Amortization Expense
- - - - - -1,908 - - - -3,129 -3,040
Non-Cash Adjustments To Reconcile Net Income
-14,000 -34,193 -33,844 28,136 -33,238 -1,160 -25,973 -21,267 -2,309 9,559 173
Changes in Operating Assets and Liabilities, net
4,448 9,376 1,685 -5,110 12,261 -2,366 5,879 -6,616 -4,755 -3,464 -2,834
Net Cash From Investing Activities
-6,092 -7,919 10,655 -28,048 -7,351 -3,203 -7,448 -3,904 4,268 -16,401 49,358
Net Cash From Continuing Investing Activities
-6,092 -7,919 10,655 -28,048 -7,351 -3,203 -7,448 -3,904 4,268 -16,401 49,358
Purchase of Property, Plant & Equipment
-4,557 -3,713 -4,685 -5,303 -5,708 -4,393 -4,535 -4,701 -5,347 -4,281 -4,858
Purchase of Investments
-46,247 -48,388 -58,114 -81,143 -63,824 -105,858 -127,953 -157,222 -145,046 -161,905 -95,050
Sale and/or Maturity of Investments
55,217 51,629 74,010 58,351 62,144 107,538 125,083 158,253 154,485 149,583 149,071
Other Investing Activities, net
-94 182 331 95 77 -490 -28 -214 210 202 195
Net Cash From Financing Activities
-1,351 -9,922 289 -4,636 -136 -9,802 854 -3,065 1,653 53 -1,166
Net Cash From Continuing Financing Activities
-1,351 -9,922 289 -4,636 -136 -9,802 854 -3,065 1,653 53 -1,166
Repayment of Debt
-676 -6,570 -1,226 -6,066 -1,596 -9,712 -2,015 -655 -5,634 -1,885 -4,091
Issuance of Debt
1,933 1,098 2,915 2,558 3,653 2,472 3,225 -2,410 7,287 1,938 2,925
Other Net Changes in Cash
175 -47 71 -34 126 -44 -97 87 -158 -76 96

Annual Balance Sheets for Berkshire Hathaway

This table presents Berkshire Hathaway's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
515,631 540,341 486,019 702,095 707,794 817,729 873,729 958,784 948,465 1,069,978 1,153,881
Total Current Assets
112,757 121,060 152,626 162,712 182,398 216,479 229,419 240,246 220,649 134,820 143,422
Cash & Equivalents
63,269 67,161 28,048 31,583 30,361 64,175 47,990 88,184 35,811 38,022 47,729
Note & Lease Receivable
- - - - - 17,527 19,201 20,751 23,208 24,681 27,798
Accounts Receivable
21,852 23,303 27,097 29,392 31,564 32,418 32,310 35,388 43,490 46,261 43,887
Inventories, net
- - 15,727 17,366 19,069 19,852 19,208 20,954 25,366 25,856 24,008
Plant, Property, & Equipment, net
137,244 145,166 152,773 158,219 166,706 174,341 187,017 191,282 196,965 216,593 222,929
Total Noncurrent Assets
265,630 274,115 180,620 381,164 358,690 426,909 457,293 527,256 530,851 718,565 787,530
Long-Term Investments
150,573 155,725 15,345 212,917 190,082 265,532 298,473 366,764 361,971 536,285 604,558
Noncurrent Note & Lease Receivables
12,566 12,772 13,300 17,279 19,946 3,417 3,542 4,177 4,795 4,999 4,503
Goodwill
60,714 62,708 79,486 81,258 81,025 81,882 73,734 73,875 78,119 84,626 83,880
Intangible Assets
9,203 9,148 33,481 32,518 31,499 31,051 29,462 28,486 29,187 35,884 34,638
Other Noncurrent Operating Assets
32,574 33,762 39,008 37,192 36,138 45,027 52,082 53,954 56,779 56,771 59,951
Total Liabilities & Shareholders' Equity
525,867 552,257 620,854 702,095 707,794 817,729 873,729 958,784 948,465 1,069,978 1,153,881
Total Liabilities
282,840 293,630 335,426 350,141 355,294 389,166 422,393 443,854 466,784 499,208 502,226
Total Current Liabilities
47,310 48,418 83,863 115,237 180,291 110,791 113,785 113,288 210,893 220,390 223,368
Accounts Payable
30,556 31,271 35,042 35,903 37,186 42,319 45,568 46,072 49,816 54,863 55,715
Current Deferred Revenue
- - - 0.00 4,593 5,281 5,856 5,849 6,820 8,253 9,356
Other Current Liabilities
11,944 13,311 45,931 77,162 138,512 63,191 62,361 61,367 154,257 157,274 158,297
Total Noncurrent Liabilities
235,530 245,212 251,563 234,904 175,003 278,375 308,608 330,566 255,891 278,818 278,858
Long-Term Debt
79,890 84,289 101,644 102,587 97,490 103,368 116,895 114,262 122,744 128,271 124,762
Noncurrent Deferred & Payable Income Tax Liabilities
- - - - 51,375 - - - 77,368 93,009 85,870
Other Noncurrent Operating Liabilities
22,928 24,653 19,098 75,710 26,138 35,189 37,761 39,397 55,779 57,538 68,226
Total Equity & Noncontrolling Interests
243,027 258,627 285,428 351,954 352,500 428,563 451,336 514,930 481,681 567,509 651,655
Total Preferred & Common Equity
240,170 255,550 282,070 348,296 348,703 424,791 443,164 506,199 473,424 561,273 649,368
Total Common Equity
240,170 255,550 282,070 348,296 348,703 424,791 443,164 506,199 473,424 561,273 649,368
Common Stock
35,581 35,628 35,689 35,702 35,715 35,666 35,634 35,600 35,175 34,488 35,673
Retained Earnings
163,620 187,703 210,846 255,786 321,112 402,493 444,626 534,421 511,127 607,350 696,218
Treasury Stock
-1,763 -1,763 -1,763 -1,763 -3,109 -8,125 -32,853 -59,795 -67,826 -76,802 -78,939
Accumulated Other Comprehensive Income / (Loss)
42,732 33,982 37,298 58,571 -5,015 -5,243 -4,243 -4,027 -5,052 -3,763 -3,584
Noncontrolling Interest
2,857 3,077 3,358 3,658 3,797 3,772 8,172 8,731 8,257 6,236 2,287

Quarterly Balance Sheets for Berkshire Hathaway

This table presents Berkshire Hathaway's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets
948,465 997,072 1,041,573 1,019,933 1,069,978 1,070,035 1,108,860 1,147,251 1,153,881 1,164,532 1,163,968
Total Current Assets
220,649 247,499 241,792 251,883 134,820 284,870 137,874 133,362 143,422 141,746 201,052
Cash & Equivalents
35,811 26,747 50,055 30,840 38,022 35,549 42,324 37,181 47,729 42,180 100,486
Note & Lease Receivable
23,208 23,144 23,530 24,009 24,681 25,435 26,085 27,106 27,798 28,131 28,722
Accounts Receivable
43,490 45,674 45,590 45,878 46,261 46,772 45,967 45,458 43,887 47,401 47,473
Inventories, net
25,366 25,499 25,295 24,755 25,856 23,670 23,498 23,617 24,008 24,034 24,371
Plant, Property, & Equipment, net
196,965 205,855 209,188 211,498 216,593 217,500 219,469 222,272 222,929 224,758 227,863
Total Noncurrent Assets
530,851 543,718 590,593 556,552 718,565 567,665 751,517 791,617 787,530 798,028 735,053
Long-Term Investments
361,971 354,564 403,255 368,552 536,285 382,616 566,356 605,856 604,558 615,415 551,935
Noncurrent Note & Lease Receivables
4,795 6,814 6,067 6,848 4,999 6,063 6,502 6,588 4,503 4,291 4,323
Goodwill
78,119 83,502 85,853 85,652 84,626 84,549 84,411 84,608 83,880 84,007 84,251
Intangible Assets
29,187 30,001 29,819 29,495 35,884 29,045 28,788 28,797 34,638 34,331 34,079
Other Noncurrent Operating Assets
56,779 68,837 65,599 66,005 56,771 65,392 65,460 65,768 59,951 59,984 60,465
Total Liabilities & Shareholders' Equity
948,465 997,072 1,041,573 1,019,933 1,069,978 1,070,035 1,108,860 1,147,251 1,153,881 1,164,532 1,163,968
Total Liabilities
466,784 480,812 489,812 485,206 499,208 492,250 500,889 515,445 502,226 507,790 493,692
Total Current Liabilities
210,893 124,999 213,927 217,474 220,390 216,996 219,056 225,437 223,368 224,394 226,272
Accounts Payable
49,816 52,525 52,233 55,077 54,863 52,232 53,597 56,493 55,715 55,006 55,370
Current Deferred Revenue
6,820 7,052 7,375 7,549 8,253 8,375 8,442 8,941 9,356 9,509 9,747
Other Current Liabilities
154,257 65,422 154,319 154,848 157,274 156,389 157,017 160,003 158,297 159,879 161,155
Total Noncurrent Liabilities
255,891 355,813 275,885 267,732 278,818 275,254 281,833 290,008 278,858 283,396 267,420
Long-Term Debt
122,744 123,624 125,347 124,781 128,271 122,754 123,628 124,507 124,762 125,927 127,020
Noncurrent Deferred & Payable Income Tax Liabilities
77,368 - 93,011 85,793 93,009 95,651 101,414 92,107 85,870 86,002 82,991
Other Noncurrent Operating Liabilities
55,779 38,026 57,527 57,158 57,538 56,849 56,791 73,394 68,226 64,420 57,409
Total Equity & Noncontrolling Interests
481,681 513,077 548,551 531,497 567,509 577,785 607,971 631,806 651,655 656,742 670,276
Total Preferred & Common Equity
473,424 504,554 539,883 525,330 561,273 571,490 601,697 629,069 649,368 654,471 667,989
Total Common Equity
473,424 504,554 539,883 525,330 561,273 571,490 601,697 629,069 649,368 654,471 667,989
Common Stock
35,175 35,164 35,148 34,481 34,488 34,990 34,999 35,486 35,673 35,673 35,632
Retained Earnings
511,127 546,631 582,543 569,776 607,350 619,925 650,273 676,524 696,218 700,821 713,191
Treasury Stock
-67,826 -72,265 -73,568 -74,655 -76,802 -79,375 -79,720 -79,249 -78,939 -78,939 -78,939
Accumulated Other Comprehensive Income / (Loss)
-5,052 -4,976 -4,240 -4,272 -3,763 -4,050 -3,855 -3,692 -3,584 -3,084 -1,895
Noncontrolling Interest
8,257 8,523 8,668 6,167 6,236 6,295 6,274 2,737 2,287 2,271 2,287

Annual Metrics And Ratios for Berkshire Hathaway

This table displays calculated financial ratios and metrics derived from Berkshire Hathaway's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
13.78% 8.34% 1.98% 11.54% 3.29% 2.74% -3.55% 12.46% 9.35% 20.68% 1.91%
EBITDA Growth
3.41% -80.37% 94.99% -27.75% -84.88% 483.56% -69.83% 80.54% -60.55% 11.40% 12.88%
EBIT Growth
-1.35% -69.95% 176.32% -42.85% -120.50% 2,515.63% -71.98% 94.77% -65.36% 21.19% 26.05%
NOPAT Growth
0.00% 53.19% 101.42% 8.10% -20.11% 0.00% -72.75% 108.58% -6.18% 39.97% 26.52%
Net Income Growth
3.28% 42.08% 0.11% 171.34% -180.94% 1,792.46% -47.12% 110.27% -124.19% 541.62% -7.81%
EPS Growth
4.08% 42.41% -0.08% 86.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth
50.95% 21.49% 207.34% 80.14% -18.21% 3.44% 2.81% -0.87% -5.27% 31.72% -37.82%
Free Cash Flow Firm Growth
0.00% 196.44% -471.79% 258.54% -26.12% 0.00% 0.00% -87.43% 307.76% -72.76% 77.38%
Invested Capital Growth
-12.06% -47.37% 43.56% -58.85% -65.26% -33.80% -50.36% 2.36% -39.92% 9.54% -0.48%
Revenue Q/Q Growth
1.28% 3.53% -1.92% 7.75% 2.02% 1.31% -0.37% 2.77% 2.08% 4.38% 0.42%
EBITDA Q/Q Growth
98.60% 5.78% 29.97% 45.32% -129.18% 289.23% 14.50% 3.01% 380.97% -3.71% -6.08%
EBIT Q/Q Growth
-4.07% 6.90% 2.73% 27.84% -156.80% 376.45% 16.98% 3.48% 7,741.38% 6.64% 13.30%
NOPAT Q/Q Growth
-99.60% 24.45% -45.81% 465.88% -117.82% -6.22% 3.64% 9.05% -3.45% 5.88% 13.91%
Net Income Q/Q Growth
-8.04% 11.51% 6.84% 276.10% -186.14% 201.03% 18.98% 4.49% -6,427.60% 25.15% -16.74%
EPS Q/Q Growth
-8.03% 5.80% 3.45% 281.22% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
22.96% -0.40% 1.32% 3.01% 15.04% 3.29% -3.71% -6.51% 7.22% 9.07% -24.22%
Free Cash Flow Firm Q/Q Growth
-596.84% -32.62% 0.00% -9.98% 154.10% 0.00% 34.21% 145.81% 404.48% -70.35% -21.61%
Invested Capital Q/Q Growth
120.37% 107.28% 15.56% 11.65% -35.17% 113.89% 83.64% 3.24% -40.68% -6.72% 9.58%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
116.15% 57.36% 69.30% 62.08% 69.52% 53.52% 54.10% 28.77% 26.93% 26.64% 30.04%
EBITDA Margin
39.81% 21.98% 42.02% 14.34% 15.98% 90.76% 28.39% 45.57% 16.44% 15.18% 16.81%
Operating Margin
32.24% 36.58% 26.03% 9.62% 13.10% 12.91% 7.48% 13.25% 13.21% 13.26% 16.41%
EBIT Margin
32.24% 36.58% 33.75% 21.01% 8.09% 82.86% 24.07% 41.69% 13.21% 13.26% 16.41%
Profit (Net Income) Margin
20.72% 11.57% 22.71% 37.80% 3.49% 131.83% 17.61% 32.93% -7.28% 26.65% 24.11%
Tax Burden Percent
143.53% 139.72% 0.00% 408.05% 0.00% 160.21% 77.66% 81.31% 72.12% 80.84% 81.14%
Interest Burden Percent
189.46% 190.23% 227.39% 194.56% 79.85% 194.72% 94.20% 97.15% -76.46% 248.58% 181.13%
Effective Tax Rate
56.47% 30.14% 54.89% -180.51% -16.05% 40.71% 22.34% 18.69% 0.00% 19.16% 18.86%
Return on Invested Capital (ROIC)
51.05% 12.87% 27.71% 44.39% 37.84% 23.65% 5.11% 15.89% 18.41% 32.76% 39.74%
ROIC Less NNEP Spread (ROIC-NNEP)
53.27% 35.26% 20.62% 13.77% 52.69% -5.42% -6.29% -4.80% 32.81% 18.49% 31.50%
Return on Net Nonoperating Assets (RNNOA)
-30.14% -13.31% -5.13% -13.97% -39.88% 662.42% 3.64% 2.94% -22.82% -14.30% -25.08%
Return on Equity (ROE)
1.88% 13.43% 17.96% 7.67% -11.65% 31.21% 8.75% 18.82% -4.41% 18.46% 14.65%
Cash Return on Invested Capital (CROIC)
-60.35% 149.86% -208.64% 29.99% 118.86% -58.16% 72.43% 13.56% 68.28% 23.65% 40.22%
Operating Return on Assets (OROA)
12.55% 14.62% 14.15% 4.24% 2.84% 27.66% 6.99% 12.57% 4.18% 4.79% 5.48%
Return on Assets (ROA)
8.06% 9.25% 9.52% 15.27% 0.61% 10.72% 5.11% 9.93% -2.31% 9.63% 8.05%
Return on Common Equity (ROCE)
1.86% 13.27% 17.75% 15.17% -11.53% 30.91% 8.63% 18.50% -4.34% 18.15% 14.51%
Return on Equity Simple (ROE_SIMPLE)
16.80% 19.11% 17.32% 26.04% 2.48% 38.51% 9.76% 17.97% -4.65% 17.31% 13.79%
Net Operating Profit after Tax (NOPAT)
22,523 26,955 40,623 43,915 35,082 52,365 14,269 29,762 27,922 39,081 49,445
NOPAT Margin
23.14% 25.56% 18.88% 36.61% 14.16% 20.57% 5.81% 10.78% 9.25% 10.72% 13.31%
Net Nonoperating Expense Percent (NNEP)
-1.19% -4.04% 8.95% 4.74% -18.46% 39.95% 11.41% 20.69% -14.40% 14.27% 8.24%
Return On Investment Capital (ROIC_SIMPLE)
6.87% - - - - - - - 4.62% 5.62% 6.37%
Cost of Revenue to Revenue
83.85% 85.28% 130.70% 137.92% 130.48% 46.48% 45.90% 71.23% 73.07% 73.36% 69.96%
SG&A Expenses to Revenue
14.09% 14.51% 16.71% 8.00% 14.41% 32.56% 10.02% 8.86% 8.11% 8.09% 8.07%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
85.58% 79.81% 43.27% 21.42% 44.87% 81.22% 46.62% 15.51% 13.72% 13.38% 13.64%
Earnings before Interest and Taxes (EBIT)
62,768 38,583 72,598 50,420 20,042 210,962 59,119 115,147 39,888 48,341 60,936
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
77,508 46,362 90,400 68,796 39,600 231,090 69,715 125,865 49,655 55,317 62,442
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.54 1.27 1.42 1.40 1.44 1.30 1.23 1.32 1.44 1.38 1.51
Price to Tangible Book Value (P/TBV)
2.18 1.77 2.38 2.09 2.13 1.78 1.60 1.66 1.86 1.76 1.84
Price to Revenue (P/Rev)
1.90 1.54 1.87 2.04 2.03 2.17 2.21 2.42 2.26 2.13 2.63
Price to Earnings (P/E)
37.34 13.51 16.68 10.89 124.99 6.80 12.79 7.44 0.00 8.07 10.99
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
5.36% 7.40% 5.99% 9.19% 0.80% 14.70% 7.82% 13.44% 0.00% 12.39% 9.10%
Enterprise Value to Invested Capital (EV/IC)
4.09 1.13 1.85 1.46 2.20 1.33 1.14 1.38 2.83 2.73 3.65
Enterprise Value to Revenue (EV/Rev)
1.11 0.77 1.79 1.12 1.14 0.98 0.86 0.95 1.07 0.93 1.22
Enterprise Value to EBITDA (EV/EBITDA)
5.59 3.52 8.50 7.81 14.24 2.15 3.03 2.08 6.49 6.15 7.25
Enterprise Value to EBIT (EV/EBIT)
6.91 4.22 10.59 10.66 28.14 2.36 3.58 2.28 8.08 7.04 7.43
Enterprise Value to NOPAT (EV/NOPAT)
9.62 6.05 18.92 6.12 8.04 9.50 14.83 8.81 11.55 8.71 9.16
Enterprise Value to Operating Cash Flow (EV/OCF)
14.39 5.18 11.77 5.88 7.54 6.43 5.32 6.65 8.63 6.92 14.80
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 3.48 0.00 2.99 1.91 0.00 1.05 10.32 3.11 12.06 9.05
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.00 0.68 0.73 0.30 0.55 0.00 0.26 0.22 0.25 0.22 0.19
Long-Term Debt to Equity
0.66 0.33 0.71 0.58 0.00 0.48 0.26 0.22 0.25 0.22 0.19
Financial Leverage
-1.81 -0.88 0.00 -0.51 -1.59 -1.77 -0.58 -0.61 -0.70 -0.77 -0.80
Leverage Ratio
4.30 4.25 0.00 3.94 4.00 3.91 1.92 1.90 1.91 1.92 1.82
Compound Leverage Factor
4.08 3.85 4.28 0.00 0.00 3.80 1.81 1.84 -1.46 4.77 3.30
Debt to Total Capital
51.69% 50.83% 53.61% 0.00% 43.33% 38.87% 20.57% 18.16% 20.31% 18.35% 16.07%
Short-Term Debt to Total Capital
0.00% 2.21% 1.48% 0.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
48.75% 24.31% 52.13% 45.03% 0.00% 38.87% 20.57% 18.16% 20.31% 18.35% 16.07%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
1.74% 1.77% 1.72% 1.61% 0.00% 1.42% 1.44% 1.39% 1.37% 1.36% 0.29%
Common Equity to Total Capital
146.57% 147.40% 144.67% 152.89% 0.00% 159.72% 77.99% 80.45% 78.33% 80.29% 83.64%
Debt to EBITDA
4.57 4.76 5.40 3.05 11.04 1.79 1.68 0.91 2.47 2.32 2.00
Net Debt to EBITDA
-8.09 -6.53 -0.91 -13.03 -22.66 -5.35 -4.88 -3.30 -7.41 -8.06 -8.45
Long-Term Debt to EBITDA
4.31 4.55 4.95 5.96 11.04 1.81 1.68 0.91 2.47 2.32 2.00
Debt to NOPAT
7.52 6.54 11.09 5.08 6.02 8.29 8.19 3.84 4.40 3.28 2.52
Net Debt to NOPAT
-13.92 -6.13 -2.03 -10.21 -12.79 -23.59 -23.85 -13.97 -13.17 -11.41 -10.67
Long-Term Debt to NOPAT
7.50 6.57 10.01 4.67 6.02 8.29 8.19 3.84 4.40 3.28 2.52
Altman Z-Score
1.96 1.94 4.37 1.89 3.77 4.87 2.15 2.53 2.10 2.12 2.43
Noncontrolling Interest Sharing Ratio
2.33% 2.37% 2.37% 0.00% 0.00% 0.00% 1.36% 1.75% 1.70% 1.69% 0.96%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
4.77 2.50 0.00 0.00 0.00 3.91 2.02 2.12 1.05 0.61 0.64
Quick Ratio
4.77 0.00 3.26 2.52 1.81 3.55 1.85 1.94 0.93 0.49 0.53
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-95,899 156,971 -323,263 179,721 295,387 0.00 202,145 25,400 103,571 28,216 50,049
Operating Cash Flow to CapEx
421.60% 391.63% 504.05% 390.57% 514.55% 242.11% 305.66% 296.98% 241.53% 253.47% 161.21%
Free Cash Flow to Firm to Interest Expense
-27.61 89.31 -87.63 20.49 76.66 0.00 49.51 6.09 23.80 5.64 9.62
Operating Cash Flow to Interest Expense
9.84 8.96 8.73 20.85 9.71 19.53 9.74 9.45 8.58 9.83 5.88
Operating Cash Flow Less CapEx to Interest Expense
10.34 8.77 5.26 7.76 5.93 11.47 6.55 6.27 5.03 5.95 2.23
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.78 0.80 0.84 0.40 0.70 0.33 0.29 0.30 0.32 0.36 0.33
Accounts Receivable Turnover
18.48 18.69 17.07 16.99 16.26 15.92 7.59 8.16 7.66 8.12 8.24
Inventory Turnover
0.00 0.00 0.00 20.00 17.75 14.70 5.77 9.80 9.53 10.44 10.42
Fixed Asset Turnover
3.08 3.09 2.99 1.54 3.10 2.99 1.36 1.46 1.56 1.76 1.69
Accounts Payable Turnover
4.77 2.91 4.24 9.33 8.85 7.17 2.57 4.29 4.60 5.11 4.70
Days Sales Outstanding (DSO)
78.98 78.13 42.76 42.97 92.37 188.21 48.10 44.73 47.66 44.94 44.29
Days Inventory Outstanding (DIO)
44.93 44.95 35.89 36.50 41.12 60.02 63.24 37.26 38.30 34.96 35.02
Days Payable Outstanding (DPO)
305.80 250.90 172.18 156.50 164.99 245.23 142.28 85.01 79.29 71.45 77.66
Cash Conversion Cycle (CCC)
-181.89 -127.82 -50.77 5.12 3.52 -33.46 -30.95 -3.02 6.67 8.45 1.65
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
274,496 144,480 414,844 368,898 256,286 373,032 185,156 189,518 113,869 124,734 124,130
Invested Capital Turnover
4.41 3.04 2.94 0.80 1.00 6.15 0.88 1.47 1.99 3.06 2.99
Increase / (Decrease) in Invested Capital
303,715 -130,016 540,728 -50,256 -107,666 233,492 -187,876 4,362 -75,649 10,865 -604
Enterprise Value (EV)
216,732 162,995 384,389 268,795 282,040 248,616 211,573 262,198 322,366 340,353 452,772
Market Capitalization
370,653 325,275 401,644 978,497 502,600 553,690 543,679 669,122 681,921 776,892 978,010
Book Value per Share
$146,334.55 $204.58 $437.37 $520.76 $511.47 $613.81 $323.10 $388.16 $363.45 $428.78 $488.61
Tangible Book Value per Share
$139.92 $147.05 $262.21 $146,750.32 $346.42 $191,087.19 $247.86 $309.67 $281.07 $336.72 $399.44
Total Capital
327,727 346,752 779,924 913,426 899,980 1,063,862 568,231 629,192 604,425 699,041 776,417
Total Debt
169,400 88,125 209,068 209,518 194,980 206,736 116,895 114,262 122,744 128,271 124,762
Total Long-Term Debt
159,780 84,289 203,288 205,174 194,980 206,736 116,895 114,262 122,744 128,271 124,762
Net Debt
-313,556 -165,357 -41,226 -224,112 -448,714 -308,846 -340,278 -415,655 -367,812 -446,036 -527,525
Capital Expenditures (CapEx)
30,370 16,082 25,908 23,416 29,074 31,958 13,012 13,276 15,464 19,409 18,976
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-41,296 -21,279 -76,298 -132,614 -259,316 -40,994 -43,066 -36,195 -118,829 -123,592 -127,675
Debt-free Net Working Capital (DFNWC)
140,514 76,478 143,306 99,294 4,214 211,376 115,634 126,958 9,756 -85,570 -79,946
Net Working Capital (NWC)
130,894 72,642 137,526 47,475 4,214 211,376 115,634 126,958 9,756 -85,570 -79,946
Net Nonoperating Expense (NNE)
2,353 2,541 -8,231 -2,877 61,519 -111,219 -28,984 -61,187 49,920 -58,066 -40,116
Net Nonoperating Obligations (NNO)
-105,779 -114,147 -156,012 -335,010 -448,714 -242,047 -266,180 -325,412 -367,812 -446,036 -527,525
Total Depreciation and Amortization (D&A)
14,740 7,779 17,802 18,376 19,558 20,128 10,596 10,718 9,767 6,976 1,506
Debt-free, Cash-free Net Working Capital to Revenue
-21.21% -20.18% -35.47% -27.64% -104.63% -32.20% -17.54% -13.11% -39.34% -33.91% -34.37%
Debt-free Net Working Capital to Revenue
72.17% 72.51% 33.31% 41.38% 1.70% 83.02% 47.09% 45.97% 3.23% -23.48% -21.52%
Net Working Capital to Revenue
67.23% 68.87% 63.93% 19.79% 0.85% 83.02% 47.09% 45.97% 3.23% -23.48% -21.52%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$12,092.00 $14,656.00 $14,645.00 $27,326.00 $4,893.63 $49,894.44 $26,685.78 $59,499.64 ($15,545.36) $66,456.27 $61,941.27
Adjusted Weighted Average Basic Shares Outstanding
1.64M 0.00 0.00 0.00 0.00 2.45B 2.39B 2.27B 2.20B 2.17B 2.16B
Adjusted Diluted Earnings per Share
$12,092.00 $14,656.00 $14,645.00 $27,326.00 $2,446.00 $49,828.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
1.64M 0.00 0.00 0.00 1.37B 0.00 1.34B 1.29B 1.30B 1.31B 1.34B
Adjusted Basic & Diluted Earnings per Share
$12,092.00 $14,656.00 $14,645.00 $27,326.00 $2,446.00 $49,828.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
1.64M 1.64M 1.64M 1.64M 1.38B 3.27M 1.34B 1.29B 1.30B 1.31B 1.34B
Normalized Net Operating Profit after Tax (NOPAT)
45,046 26,955 0.00 0.00 23,001 52,518 22,557 29,762 27,922 39,081 49,445
Normalized NOPAT Margin
23.14% 12.78% 18.88% 13.47% 18.56% 20.63% 9.19% 10.78% 9.25% 10.72% 13.31%
Pre Tax Income Margin
28.87% 33.13% 31.30% 9.94% 4.10% 80.67% 22.68% 40.50% -10.10% 32.97% 29.72%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
19.30 21.95 19.41 11.50 2.60 123.77 14.48 27.60 9.17 9.66 11.72
NOPAT to Interest Expense
6.92 15.34 5.43 20.03 9.11 13.22 3.49 7.13 6.42 7.81 9.51
EBIT Less CapEx to Interest Expense
4.98 12.80 12.48 6.16 -1.17 22.60 11.29 24.42 5.61 5.78 8.07
NOPAT Less CapEx to Interest Expense
2.26 6.19 1.97 7.34 5.33 5.15 0.31 3.95 2.86 3.93 5.86
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 62.29% 11.86% 57.12% 29.75% -35.70% 9.44% 3.26%

Quarterly Metrics And Ratios for Berkshire Hathaway

This table displays calculated financial ratios and metrics derived from Berkshire Hathaway's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
8.60% 20.54% 21.39% 21.20% 19.60% 5.24% 1.24% -0.23% 1.65% -0.16% -1.22%
EBITDA Growth
-79.82% 31.10% 131.34% 2,096.13% 31.76% 31.28% 13.87% -4.90% 52.12% -19.25% -7.65%
EBIT Growth
-84.24% 37.53% 124.09% 485.84% 38.17% 39.23% 16.37% -6.01% 65.68% -13.23% -5.73%
NOPAT Growth
-15.87% 6.48% 19.45% 39.79% 34.75% 42.37% 16.80% 9.37% 69.32% -3.62% -0.44%
Net Income Growth
-54.45% 526.77% 183.71% -365.79% 107.04% -64.11% -15.75% 310.71% -47.69% -63.59% -59.15%
EPS Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth
32.18% 27.35% 45.75% 17.01% 39.66% 21.55% 9.39% -86.81% -67.91% 3.19% -25.86%
Free Cash Flow Firm Growth
2,341.76% 76.10% 197.19% 4,719.36% -102.56% 650.85% -79.87% -54.33% 832.70% -84.82% -162.24%
Invested Capital Growth
-39.92% 14.00% -34.91% -30.34% 9.54% -40.95% -2.81% -15.29% -0.48% -2.99% 17.86%
Revenue Q/Q Growth
1.52% 9.38% 8.33% 0.76% 0.18% -3.76% 4.21% -0.70% 2.07% -5.47% 3.11%
EBITDA Q/Q Growth
1,347.13% -45.92% 19.40% 5.05% -17.68% -64.94% 3.56% -12.27% 31.68% -39.73% 14.19%
EBIT Q/Q Growth
320.05% -52.90% 24.59% 5.38% -21.20% -69.28% 4.13% -14.89% 38.91% -29.52% 13.14%
NOPAT Q/Q Growth
-6.05% 29.37% 24.24% -7.42% -9.44% 36.69% 1.92% -13.31% 40.20% -22.19% 5.28%
Net Income Q/Q Growth
775.95% 96.07% 1.24% -134.72% 400.45% -66.02% 137.67% -13.17% -25.41% -76.35% 166.63%
EPS Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
-11.74% -15.69% 43.03% 9.93% 5.35% -26.63% 28.73% -86.74% 156.30% 135.94% -7.50%
Free Cash Flow Firm Q/Q Growth
5,687.60% -122.40% 525.26% -13.23% -103.10% 4,913.12% -84.46% 96.82% -50.24% -0.26% -163.71%
Invested Capital Q/Q Growth
-40.68% 91.75% -42.07% 5.72% -6.72% 3.36% -4.66% -7.85% 9.58% 0.76% 15.83%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
4.10% 48.28% 26.12% 26.46% 7.56% 49.19% 67.55% 67.39% -61.69% 57.03% 57.18%
EBITDA Margin
13.63% 15.90% 17.52% 18.27% 15.01% 19.83% 19.71% 17.41% 22.46% 14.32% 15.86%
Operating Margin
10.09% 12.32% 14.17% 14.82% 11.66% 16.30% 16.29% 13.96% 19.01% 14.17% 15.55%
EBIT Margin
10.09% 12.32% 14.17% 14.82% 11.66% 16.30% 16.29% 13.96% 19.01% 14.17% 15.55%
Profit (Net Income) Margin
23.36% 41.87% 39.13% -13.48% 40.44% 14.28% 32.56% 28.47% 20.81% 5.21% 13.46%
Tax Burden Percent
82.49% 79.90% 79.67% 74.10% 80.44% 81.70% 79.97% 81.46% 82.21% 90.75% 84.45%
Interest Burden Percent
280.57% 425.24% 346.51% -122.74% 431.10% 107.19% 249.95% 250.33% 133.18% 40.49% 102.54%
Effective Tax Rate
17.51% 20.10% 20.33% 0.00% 19.56% 18.30% 20.03% 18.54% 17.79% 9.25% 15.55%
Return on Invested Capital (ROIC)
16.58% 15.21% 23.44% 22.25% 28.66% 28.31% 38.67% 34.07% 46.64% 37.60% 36.30%
ROIC Less NNEP Spread (ROIC-NNEP)
13.19% 6.39% 16.09% 28.86% 21.53% 28.07% 34.65% 30.61% 45.63% 39.00% 36.24%
Return on Net Nonoperating Assets (RNNOA)
-9.17% -3.85% -11.04% -19.45% -16.65% -19.14% -27.20% -24.13% -36.34% -30.97% -28.65%
Return on Equity (ROE)
7.40% 11.36% 12.40% 2.80% 12.01% 9.17% 11.47% 9.94% 10.30% 6.62% 7.65%
Cash Return on Invested Capital (CROIC)
68.28% 8.89% 63.19% 58.44% 23.65% 76.11% 38.66% 51.70% 40.22% 40.92% 19.59%
Operating Return on Assets (OROA)
3.20% 3.97% 4.84% 5.39% 4.21% 5.82% 5.61% 4.77% 6.35% 4.71% 5.06%
Return on Assets (ROA)
7.40% 13.48% 13.35% -4.90% 14.60% 5.10% 11.21% 9.72% 6.95% 1.73% 4.39%
Return on Common Equity (ROCE)
7.28% 11.17% 12.16% 2.75% 11.81% 9.04% 11.29% 9.84% 10.20% 6.58% 7.60%
Return on Equity Simple (ROE_SIMPLE)
0.00% 1.60% 16.21% 14.78% 0.00% 12.99% 11.39% 17.10% 0.00% 12.44% 0.00%
Net Operating Profit after Tax (NOPAT)
6,500 8,409 10,447 9,672 8,759 11,972 12,202 10,578 14,830 11,538 12,148
NOPAT Margin
8.33% 9.85% 11.29% 10.38% 9.38% 13.32% 13.03% 11.37% 15.62% 12.86% 13.13%
Net Nonoperating Expense Percent (NNEP)
3.39% 8.82% 7.35% -6.61% 7.13% 0.23% 4.02% 3.46% 1.01% -1.40% 0.06%
Return On Investment Capital (ROIC_SIMPLE)
1.08% - - - 1.26% - - - 1.91% 1.47% 1.52%
Cost of Revenue to Revenue
95.90% 51.72% 73.88% 73.54% 92.44% 50.81% 32.45% 32.61% 161.69% 42.97% 42.82%
SG&A Expenses to Revenue
10.77% 7.58% 6.70% 6.66% 11.35% 6.43% 6.86% 9.06% 9.85% 9.50% 9.82%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
-5.99% 35.96% 11.95% 11.64% -4.10% 32.88% 51.26% 53.43% -80.69% 42.86% 41.63%
Earnings before Interest and Taxes (EBIT)
7,880 10,524 13,112 13,817 10,888 14,653 15,258 12,986 18,039 12,714 14,384
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
10,638 13,575 16,208 17,027 14,017 17,821 18,456 16,192 21,322 12,850 14,673
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.44 1.34 1.38 1.45 1.38 1.60 1.46 1.58 1.51 1.76 1.57
Price to Tangible Book Value (P/TBV)
1.86 1.73 1.76 1.86 1.76 1.99 1.80 1.92 1.84 2.14 1.91
Price to Revenue (P/Rev)
2.26 2.14 2.24 2.19 2.13 2.47 2.37 2.68 2.63 3.09 2.83
Price to Earnings (P/E)
0.00 94.46 8.60 9.96 8.07 12.43 12.94 9.28 10.99 14.20 16.66
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 1.06% 11.63% 10.04% 12.39% 8.04% 7.73% 10.77% 9.10% 7.04% 6.00%
Enterprise Value to Invested Capital (EV/IC)
2.83 1.38 2.62 2.78 2.73 3.65 3.25 4.21 3.65 4.95 3.62
Enterprise Value to Revenue (EV/Rev)
1.07 0.95 1.00 1.07 0.93 1.27 1.08 1.29 1.22 1.67 1.42
Enterprise Value to EBITDA (EV/EBITDA)
6.49 5.79 6.26 6.48 6.15 7.23 5.93 7.17 7.25 10.43 9.03
Enterprise Value to EBIT (EV/EBIT)
8.08 7.39 8.02 8.21 7.04 8.96 7.31 8.86 7.43 10.50 9.03
Enterprise Value to NOPAT (EV/NOPAT)
11.55 6.69 9.90 10.09 8.71 11.01 8.94 10.98 9.16 12.87 10.89
Enterprise Value to Operating Cash Flow (EV/OCF)
8.63 7.68 7.70 8.26 6.92 9.21 7.64 11.80 14.80 20.02 19.15
Enterprise Value to Free Cash Flow (EV/FCFF)
3.11 16.54 3.27 3.91 12.06 3.56 8.28 7.46 9.05 11.92 20.02
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.25 0.24 0.23 0.23 0.22 0.21 0.20 0.20 0.19 0.19 0.19
Long-Term Debt to Equity
0.25 0.24 0.23 0.23 0.22 0.21 0.20 0.20 0.19 0.19 0.19
Financial Leverage
-0.70 -0.60 -0.69 -0.67 -0.77 -0.68 -0.79 -0.79 -0.80 -0.79 -0.79
Leverage Ratio
1.91 1.91 1.91 1.93 1.92 1.89 1.85 1.86 1.82 1.81 1.78
Compound Leverage Factor
5.37 8.12 6.62 -2.36 8.27 2.03 4.63 4.65 2.42 0.73 1.82
Debt to Total Capital
20.31% 19.42% 18.51% 18.92% 18.35% 17.52% 16.90% 16.46% 16.07% 16.09% 15.93%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
20.31% 19.42% 18.51% 18.92% 18.35% 17.52% 16.90% 16.46% 16.07% 16.09% 15.93%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
1.37% 1.34% 1.75% 1.42% 1.36% 0.90% 0.86% 0.36% 0.29% 0.29% 0.29%
Common Equity to Total Capital
78.33% 79.25% 79.73% 79.65% 80.29% 81.58% 82.24% 83.18% 83.64% 83.62% 83.78%
Debt to EBITDA
2.47 2.38 2.36 2.17 2.32 1.89 1.84 1.87 2.00 2.12 2.18
Net Debt to EBITDA
-7.41 -7.38 -8.02 -6.98 -8.06 -6.90 -7.21 -7.80 -8.45 -8.95 -9.03
Long-Term Debt to EBITDA
2.47 2.38 2.36 2.17 2.32 1.89 1.84 1.87 2.00 2.12 2.18
Debt to NOPAT
4.40 2.75 3.74 3.38 3.28 2.87 2.77 2.87 2.52 2.62 2.64
Net Debt to NOPAT
-13.17 -8.53 -12.68 -10.86 -11.41 -10.50 -10.86 -11.95 -10.67 -11.05 -10.90
Long-Term Debt to NOPAT
4.40 2.75 3.74 3.38 3.28 2.87 2.77 2.87 2.52 2.62 2.64
Altman Z-Score
1.99 2.11 2.09 2.15 2.01 2.39 2.16 2.24 2.30 2.47 2.46
Noncontrolling Interest Sharing Ratio
1.70% 1.67% 1.99% 1.77% 1.69% 1.36% 1.57% 1.04% 0.96% 0.69% 0.67%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.05 1.98 1.13 1.16 0.61 1.31 0.63 0.59 0.64 0.63 0.89
Quick Ratio
0.93 1.78 1.01 1.04 0.49 1.20 0.52 0.49 0.53 0.52 0.78
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
82,149 -18,405 78,270 67,914 -2,106 101,386 15,759 31,017 15,434 15,394 -9,808
Operating Cash Flow to CapEx
226.27% 234.12% 265.40% 257.76% 252.28% 240.52% 299.93% 38.35% 86.42% 254.68% 207.60%
Free Cash Flow to Firm to Interest Expense
72.12 -15.11 62.67 53.90 -1.65 77.04 12.81 25.55 10.72 12.25 -7.83
Operating Cash Flow to Interest Expense
9.05 7.14 9.96 10.85 11.29 8.03 11.06 1.49 3.21 8.67 8.05
Operating Cash Flow Less CapEx to Interest Expense
5.05 4.09 6.20 6.64 6.81 4.69 7.37 -2.39 -0.50 5.27 4.17
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.32 0.32 0.34 0.36 0.36 0.36 0.34 0.34 0.33 0.33 0.33
Accounts Receivable Turnover
7.66 7.48 7.81 8.10 8.12 7.98 8.08 8.10 8.24 7.89 7.92
Inventory Turnover
9.53 9.63 9.83 10.27 10.44 11.05 9.58 8.09 10.42 10.80 10.66
Fixed Asset Turnover
1.56 1.59 1.66 1.73 1.76 1.74 1.73 1.71 1.69 1.68 1.65
Accounts Payable Turnover
4.60 4.70 4.91 4.97 5.11 5.19 4.42 3.51 4.70 4.80 4.68
Days Sales Outstanding (DSO)
47.66 48.79 46.75 45.08 44.94 45.73 45.15 45.06 44.29 46.29 46.07
Days Inventory Outstanding (DIO)
38.30 37.90 37.14 35.55 34.96 33.02 38.09 45.14 35.02 33.80 34.24
Days Payable Outstanding (DPO)
79.29 77.68 74.36 73.48 71.45 70.36 82.62 104.12 77.66 75.97 77.94
Cash Conversion Cycle (CCC)
6.67 9.01 9.53 7.15 8.45 8.39 0.62 -13.92 1.65 4.11 2.37
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
113,869 218,344 126,476 133,715 124,734 128,930 122,919 113,276 124,130 125,074 144,875
Invested Capital Turnover
1.99 1.54 2.08 2.14 3.06 2.12 2.97 3.00 2.99 2.92 2.76
Increase / (Decrease) in Invested Capital
-75,649 26,814 -67,823 -58,242 10,865 -89,414 -3,557 -20,439 -604 -3,856 21,956
Enterprise Value (EV)
322,366 301,234 331,877 372,371 340,353 470,380 399,103 476,524 452,772 619,323 524,933
Market Capitalization
681,921 676,833 745,284 763,986 776,892 912,940 877,881 992,317 978,010 1,148,720 1,048,047
Book Value per Share
$363.45 $387.61 $416.40 $401.43 $428.78 $264.52 $458.63 $474.50 $488.61 $488.92 $497.25
Tangible Book Value per Share
$281.07 $300.42 $327.18 $313.44 $336.72 $211.94 $372.35 $388.96 $399.44 $400.52 $409.16
Total Capital
604,425 636,701 677,108 659,508 699,041 700,539 731,599 756,313 776,417 782,669 797,296
Total Debt
122,744 123,624 125,347 124,781 128,271 122,754 123,628 124,507 124,762 125,927 127,020
Total Long-Term Debt
122,744 123,624 125,347 124,781 128,271 122,754 123,628 124,507 124,762 125,927 127,020
Net Debt
-367,812 -384,122 -425,285 -401,012 -446,036 -448,855 -485,052 -518,530 -527,525 -531,668 -525,401
Capital Expenditures (CapEx)
4,557 3,713 4,685 5,303 5,708 4,393 4,535 4,701 5,347 4,281 4,858
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-118,829 -30,682 -119,512 -122,832 -123,592 -121,119 -123,506 -129,256 -127,675 -124,828 -125,706
Debt-free Net Working Capital (DFNWC)
9,756 122,500 27,865 34,409 -85,570 67,874 -81,182 -92,075 -79,946 -82,648 -25,220
Net Working Capital (NWC)
9,756 122,500 27,865 34,409 -85,570 67,874 -81,182 -92,075 -79,946 -82,648 -25,220
Net Nonoperating Expense (NNE)
-11,737 -27,348 -25,752 22,239 -28,999 -860 -18,296 -15,902 -4,921 6,866 -309
Net Nonoperating Obligations (NNO)
-367,812 -294,733 -425,285 -401,012 -446,036 -448,855 -485,052 -518,530 -527,525 -531,668 -525,401
Total Depreciation and Amortization (D&A)
2,758 3,051 3,096 3,210 3,129 3,168 3,198 3,206 3,283 136 289
Debt-free, Cash-free Net Working Capital to Revenue
-39.34% -9.69% -35.90% -35.18% -33.91% -32.83% -33.37% -34.94% -34.37% -33.62% -33.96%
Debt-free Net Working Capital to Revenue
3.23% 38.70% 8.37% 9.85% -23.48% 18.40% -21.93% -24.89% -21.52% -22.26% -6.81%
Net Working Capital to Revenue
3.23% 38.70% 8.37% 9.85% -23.48% 18.40% -21.93% -24.89% -21.52% -22.26% -6.81%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$12,300.20 $24,393.25 $24,791.52 ($8,829.88) $26,101.38 $8,830.88 $21,136.08 $18,284.18 $13,690.13 $3,202.13 $8,606.73
Adjusted Weighted Average Basic Shares Outstanding
2.20B 2.19B 2.18B 2.17B 2.17B 2.16B 2.16B 2.16B 2.16B 2.16B 2.16B
Adjusted Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
1.30B 1.30B 1.31B 1.31B 1.31B 1.31B 1.33B 1.33B 1.34B 1.34B 1.38B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
1.30B 1.30B 1.31B 1.31B 1.31B 1.31B 1.33B 1.33B 1.34B 1.34B 1.38B
Normalized Net Operating Profit after Tax (NOPAT)
6,500 8,409 10,447 9,672 8,759 11,972 12,202 10,578 14,830 11,538 12,148
Normalized NOPAT Margin
8.33% 9.85% 11.29% 10.38% 9.38% 13.32% 13.03% 11.37% 15.62% 12.86% 13.13%
Pre Tax Income Margin
28.32% 52.41% 49.12% -18.19% 50.27% 17.48% 40.72% 34.96% 25.31% 5.74% 15.94%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
6.92 8.64 10.50 10.97 8.53 11.13 12.40 10.70 12.53 10.11 11.48
NOPAT to Interest Expense
5.71 6.90 8.36 7.68 6.86 9.10 9.92 8.71 10.30 9.18 9.70
EBIT Less CapEx to Interest Expense
2.92 5.59 6.75 6.76 4.06 7.80 8.72 6.82 8.81 6.71 7.60
NOPAT Less CapEx to Interest Expense
1.71 3.86 4.61 3.47 2.39 5.76 6.23 4.84 6.59 5.77 5.82
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
-35.70% 113.29% 10.87% 12.35% 9.44% 9.81% 9.11% 4.75% 3.26% 0.44% 0.00%

Key Financial Trends

Berkshire Hathaway (NYSE: BRK.A) has demonstrated robust financial performance over the last four years, showing resilience in revenue growth, income, and strong cash flow generation.

Here are the key positive highlights from the recent financial statements:

  • Strong consolidated net income growth, with Q2 2025 reaching $12.46 billion, up significantly from the $4.67 billion in Q1 2025 and showing substantial improvement from prior years.
  • Consistently high operating revenues around $90 billion per quarter, with $92.5 billion in Q2 2025, indicating stable core business operations.
  • Net cash from continuing operating activities remains robust, with $10.1 billion in Q2 2025, highlighting strong cash generation capabilities.
  • Substantial cash and equivalents on the balance sheet, nearly doubling from $42.2 billion in Q1 2025 to $100.5 billion in Q2 2025, providing liquidity and flexibility.
  • Consistent increase in total common equity, growing from approximately $447 billion in Q1 2021 to about $668 billion in Q2 2025, reflecting retained earnings accumulation and shareholder value growth.
  • Healthy sale and maturity of investments activities, with $149 billion generated in Q2 2025, outpacing purchases and indicating good management of investment portfolio liquidity.
  • Positive pre-tax income trend with Q2 2025 showing $14.75 billion compared to lower levels in early 2024, signaling profitability improvements.

Neutral points that investors should observe:

  • Depreciation and amortization expenses are high but stable, reflecting ongoing investments in property, plant, and equipment.
  • Long-term debt has remained fairly stable around $120-$130 billion, requiring monitoring for potential refinancing risks.
  • Fluctuations in 'Other Operating Expenses / (Income)' which can be volatile due to the diverse operations and investment activities of Berkshire Hathaway.

Potential concerns or negative aspects:

  • Large scale purchases of investments, such as $95 billion in Q2 2025, which might increase financial risk depending on market conditions.
  • Negative operating gross profit reported in Q4 2024 likely due to accounting or investment valuation impacts, although offset by strong other income.
  • High volatility in net income attributable to noncontrolling interests and fluctuations in income tax expenses could impact net profitability.
  • Periods of negative net income and cash flows in certain quarters (e.g., Q3 2023 loss), reflecting sensitivity to investment performance and possibly economic cycles.

Summary: Berkshire Hathaway continues to demonstrate strong operational revenue and income growth with healthy cash generation. The substantial increase in cash holdings and equity over the past quarters supports business flexibility and capacity for investment opportunities. However, investors should be mindful of large investment purchase volumes and occasional volatility in other income and expenses that may affect future earnings.

08/09/25 07:58 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Berkshire Hathaway's Financials

When does Berkshire Hathaway's financial year end?

According to the most recent income statement we have on file, Berkshire Hathaway's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Berkshire Hathaway's net income changed over the last 10 years?

Berkshire Hathaway's net income appears to be on an upward trend, with a most recent value of $89.56 billion in 2024, rising from $20.17 billion in 2014. The previous period was $97.15 billion in 2023.

What is Berkshire Hathaway's operating income?
Berkshire Hathaway's total operating income in 2024 was $60.94 billion, based on the following breakdown:
  • Total Gross Profit: $111.59 billion
  • Total Operating Expenses: $50.65 billion
How has Berkshire Hathaway's revenue changed over the last 10 years?

Over the last 10 years, Berkshire Hathaway's total revenue changed from $194.70 billion in 2014 to $371.43 billion in 2024, a change of 90.8%.

How much debt does Berkshire Hathaway have?

Berkshire Hathaway's total liabilities were at $502.23 billion at the end of 2024, a 0.6% increase from 2023, and a 77.6% increase since 2014.

How much cash does Berkshire Hathaway have?

In the past 10 years, Berkshire Hathaway's cash and equivalents has ranged from $28.05 billion in 2016 to $88.18 billion in 2021, and is currently $47.73 billion as of their latest financial filing in 2024.

How has Berkshire Hathaway's book value per share changed over the last 10 years?

Over the last 10 years, Berkshire Hathaway's book value per share changed from 146,334.55 in 2014 to 488.61 in 2024, a change of -99.7%.



This page (NYSE:BRK.A) was last updated on 8/9/2025 by MarketBeat.com Staff
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