Berkshire Hathaway
BRK-BNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $583.34 Prior regular-session close from the quote source.
- $576.80–$588.51 Regular-session low and high so far today.
- 5.1M Regular-session shares traded · Nov 11, 4:02 PM ET.
- Mar 1 projected Projected for 2027-03-01 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $464.01–$588.51 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own BRK-B if you believe Berkshire’s insurance-led conglomerate can keep compounding equity and operating cash flow despite flat revenue, volatile net income, and Buffett succession risk.
BRK-B price history
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Investment thesis
What must happen next
Berkshire returns to at least low-single-digit revenue growth, but only in a way that preserves cash generation rather than buying growth at worse economics.HoldingMateriality: High
future annual revenue grows more than 3% while operating_cash_flow is flat or higher year over year. This is a load-bearing condition for Berkshire Hathaway's investment case.
Watch: another annual revenue print is flat or down, or revenue grows while operating_cash_flow falls more than 10%.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
future annual revenue grows more than 3% while operating_cash_flow is flat or higher year over year.
Open source ↗Operating cash flow remains the core proof of earnings power despite volatility in reported net income.HoldingMateriality: High
annual operating_cash_flow stays above $40 billion, or quarterly filings annualize above that level. This is a load-bearing condition for Berkshire Hathaway's investment case.
Watch: annual operating_cash_flow falls below $35 billion or two consecutive quarterly filings show material year-over-year declines.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
annual operating_cash_flow stays above $40 billion, or quarterly filings annualize above that level.
Open source ↗Berkshire continues compounding its equity base without leaning on balance-sheet leverage.HoldingMateriality: Medium
equity rises year over year and grows faster than liabilities in the next annual filing. This is a load-bearing condition for Berkshire Hathaway's investment case.
Watch: equity declines year over year or liabilities grow faster than equity for two consecutive filings.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
equity rises year over year and grows faster than liabilities in the next annual filing.
Open source ↗Cash remains a source of optionality for acquisitions, claims, or capital allocation rather than being consumed to support ordinary operations.HoldingMateriality: Medium
cash is maintained or grows year over year while operating_cash_flow remains positive. This is a load-bearing condition for Berkshire Hathaway's investment case.
Watch: cash falls more than 20% year over year without a disclosed acquisition or capital return, or operating_cash_flow turns negative.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
cash is maintained or grows year over year while operating_cash_flow remains positive.
Open source ↗Future net income volatility does not signal economic impairment unless it is accompanied by weaker cash flow and declining equity.HoldingMateriality: Medium
a lower or volatile net_income print is accompanied by operating_cash_flow above $35 billion and rising equity. This is a load-bearing condition for Berkshire Hathaway's investment case.
Watch: net_income turns negative while operating_cash_flow falls below $35 billion and equity declines.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
a lower or volatile net_income print is accompanied by operating_cash_flow above $35 billion and rising equity.
Open source ↗
Full investment case & evidence
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Original research
Berkshire returns to at least low-single-digit revenue growth, but only in a way that preserves cash generation rather than buying growth at worse economics. This is a load-bearing condition for Berkshire Hathaway's investment case.
Operating cash flow remains the core proof of earnings power despite volatility in reported net income. This is a load-bearing condition for Berkshire Hathaway's investment case.
Berkshire continues compounding its equity base without leaning on balance-sheet leverage. This is a load-bearing condition for Berkshire Hathaway's investment case.
Cash remains a source of optionality for acquisitions, claims, or capital allocation rather than being consumed to support ordinary operations. This is a load-bearing condition for Berkshire Hathaway's investment case.
Future net income volatility does not signal economic impairment unless it is accompanied by weaker cash flow and declining equity. This is a load-bearing condition for Berkshire Hathaway's investment case.
All standing thesis claims
Original report summary
you believe Berkshire’s insurance-led conglomerate can keep compounding equity and operating cash flow despite flat revenue, volatile net income, and Buffett succession risk.
Bull case and bear case
Bull case and bear case for Berkshire Hathaway
Where the evidence on Berkshire Hathaway stands: Holding on the latest evidence (Nov 7, 2026). Of its 5 thesis points, 5 holding.
Bull case: what the evidence supports
Berkshire returns to at least low-single-digit revenue growth, but only in a way that preserves cash generation rather than buying growth at worse economics.
Operating cash flow remains the core proof of earnings power despite volatility in reported net income.
Berkshire continues compounding its equity base without leaning on balance-sheet leverage.
Cash remains a source of optionality for acquisitions, claims, or capital allocation rather than being consumed to support ordinary operations.
Future net income volatility does not signal economic impairment unless it is accompanied by weaker cash flow and declining equity.
Bear case: what would count against it
another annual revenue print is flat or down, or revenue grows while operating_cash_flow falls more than 10%.
annual operating_cash_flow falls below $35 billion or two consecutive quarterly filings show material year-over-year declines.
equity declines year over year or liabilities grow faster than equity for two consecutive filings.
Company research
Research on Berkshire Hathaway
- Reporting · Raging Capital Ventures buys Berkshire puts as the stock sits at a one-year high
Shares rose in the first session after a quarterly profit decline that OptimistFi reads as weakening its own case.
- Reporting · Berkshire Hathaway Inc. (NYSE: BRK.B) Keeps Greg Abel in Charge
Howard Buffett will guard the culture, while Greg Abel runs a company holding $359.2 billion in cash and Treasury bills at June 30.
Thesis-Break Engine
Thesis-break watch · Berkshire Hathaway
No break has crossed Berkshire Hathaway’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Berkshire Hathaway filed an SEC 8-K on 2026-08-11: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Berkshire Hathaway filed an SEC 8-K on 2026-05-07: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- another annual revenue print is flat or down, or revenue grows while operating_cash_flow falls more than 10%.
- annual operating_cash_flow falls below $35 billion or two consecutive quarterly filings show material year-over-year declines.
- equity declines year over year or liabilities grow faster than equity for two consecutive filings.
- cash falls more than 20% year over year without a disclosed acquisition or capital return, or operating_cash_flow turns negative.
- net_income turns negative while operating_cash_flow falls below $35 billion and equity declines.
BRK-B news
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Financial statements
BRK-B income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
BRK-B: quick answers
- When does Berkshire Hathaway (BRK-B) report earnings next?
- Berkshire Hathaway's next results are projected for March 1, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 9, 2026. Earnings calendar
- What is BRK-B's short interest?
- As of October 30, 2026, 15.2M BRK-B shares were sold short, up 10.6% from the count before. At the stock's average daily volume that is 3.4 days to cover. FINRA publishes the count twice a month. BRK-B short interest history
- Have members of Congress traded BRK-B?
- Reports made public in the last 90 days disclose 15 trades in BRK-B by 4 filers: 8 purchases and 7 sales. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed BRK-B trade
- Which well-known investors own BRK-B?
- 5 of the 37 well-known funds tracked here reported BRK-B shares in their latest 13F filings. By share of the fund's portfolio: Gates Foundation Trust (Bill Gates), 21.4%; Himalaya Capital (Li Lu), 15.0%; Markel Group (Tom Gayner), 5.9%. Fund portfolios
BRK-B in well-known investors’ portfolios
5 of 37 funds reported BRK-B shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Bill GatesGates Foundation Trust | 21.4% | $7.4B | −13.8% | Q2 2026 |
| Li LuHimalaya Capital | 15.0% | $555M | +23.5% | Q2 2026 |
| Tom GaynerMarkel Group | 5.9% | $763M | No change | Q3 2026 |
| George SorosSoros Fund Management | 0.82% | $66.7M | No change | Q2 2026 |
| Chuck AkreAkre Capital Management | 0.08% | $4.1M | −20.8% | Q2 2026 |