Net margin
18.0% Fiscal year 2025
Rank 62 of 100: higher than 62% of 237 peers (All). medium.
Rank 35 of 100: higher than 35% of 33 peers (Sector). medium.
Median Financials: 26.2%
Profit after all costs, interest and taxes divided by revenue.
Berkshire Hathaway is a holding company from Omaha, led for decades by Warren Buffett; Greg Abel took over at the end of 2025. The group includes the insurer Geico, the railroad BNSF, utilities and many industrial companies as well as large stock holdings, for example in Apple. This is the Class B share. As of Oct 11, 2026
Berkshire Hathaway is a Delaware holding company with corporate headquarters in Omaha, Nebraska, whose subsidiaries operate in many different industries. The group names primary insurance and reinsurance, a freight railroad and utility and energy companies as particularly important. The insurance subsidiaries cover property and casualty risks as well as life and health risks worldwide. The NICO Group offers property and casualty reinsurance and primary insurance for very large or unusual risks. The General Re Group conducts reinsurance worldwide for property and casualty risks as well as for life and health. Outside insurance, the group includes the freight railroad BNSF, Berkshire Hathaway Energy and makers of industrial, construction and consumer goods.
Automatically summarized from SEC annual report (10-K, filed Mar 2, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
This method currently detects no pattern for BRK-B. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Berkshire Hathaway · Sector Financials · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Mar 2, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
18.0% Fiscal year 2025
Rank 62 of 100: higher than 62% of 237 peers (All). medium.
Rank 35 of 100: higher than 35% of 33 peers (Sector). medium.
Median Financials: 26.2%
Profit after all costs, interest and taxes divided by revenue.
9.3% Fiscal year 2025
Rank 29 of 100: higher than 29% of 218 peers (All). weak.
Rank 23 of 100: higher than 23% of 32 peers (Sector). weak.
Median Financials: 13.9%
Net income divided by equity at fiscal year end.
5.5% Fiscal year 2025 (total assets at year end)
Rank 48 of 100: higher than 48% of 238 peers (All). medium.
Rank 74 of 100: higher than 74% of 33 peers (Sector). strong.
Median Financials: 2.4%
Net income divided by total assets at fiscal year end.
58.7% Fiscal year 2025
Rank 81 of 100: higher than 81% of 239 peers (All). strong.
Rank 92 of 100: higher than 92% of 33 peers (Sector). strong.
Median Financials: 18.2%
Equity as a share of total assets. Usually low for banks.
6.7% Fiscal year 2025
Rank 32 of 100: higher than 32% of 213 peers (All). weak.
Rank 24 of 100: higher than 24% of 23 peers (Sector). weak.
Median Financials: 25.8%
Free cash flow divided by revenue.
25.0B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+7.1% per year
Rank 45 of 100: higher than 45% of 230 peers (All). medium.
Rank 33 of 100: higher than 33% of 32 peers (Sector). medium.
Median Financials: +9.7%
Average growth per year over 3 fiscal years.
+8.6% per year
Rank 38 of 100: higher than 38% of 217 peers (All). medium.
Rank 36 of 100: higher than 36% of 29 peers (Sector). medium.
Median Financials: +9.1%
Average growth per year over 5 fiscal years.
+5.8% per year
Rank 41 of 100: higher than 41% of 157 peers (All). medium.
Rank 33 of 100: higher than 33% of 23 peers (Sector). medium.
Median Financials: +7.2%
Average growth per year over 10 fiscal years.
Banks and insurers usually do not report gross margin, current assets or capital expenditure – those criteria then do not count. Debt is part of their business.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Earnings per share” in this interval.
No reported values for “Earnings per share” in this interval.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 371.4B USD · Net income 67.0B USD · Net margin 18.0%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 18.0 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 371.4B USD | 100.0% |
| Net income | 67.0B USD | 18.0% |
| Interest expense | 5.1B USD | 1.4% |
| Taxes | 15.2B USD | 4.1% |
| Remaining costs & other | 284.2B USD | 76.5% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The net margin stayed roughly the same in 5 years (18.0%).
Net marginReturn on equity stayed roughly the same in 5 years (9.3%).
Return on equityReturn on assetsThe equity ratio rose in 5 years from 50.7% to 58.7%.
Equity in USD Long-term debt, depending on the filing, includes the current portion or leases.Banks and insurers: gross margin, current assets and capital expenditure are usually not reported and cash flow is not meaningful there – those lines and charts are omitted.
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Over 4 years, 47.0B USD went back to shareholders, 100% of it through share repurchases. That is 53% of the free cash flow of those years.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDFor banks and insurers free cash flow is not meaningful; ratios to free cash flow are usually omitted.
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Berkshire Hathaway next to 8 stocks of the sector Financials we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| BRK-B Berkshire Hathaway this stock | 371.4B USD | +8.6% | – | – | 18.0% | 9.3% | 58.7% | – | – |
| JPM JPMorgan Chase | 182.4B USD | +8.8% | – | – | 31.3% | 15.7% | 8.2% | – | – |
| BAC Bank of America | 113.1B USD | +5.7% | – | – | 27.0% | 10.1% | 8.9% | – | – |
| PGR Progressive Corporation | 87.7B USD | +15.5% | – | – | 12.9% | 37.3% | 24.6% | – | – |
| C Citigroup | 85.2B USD | +2.8% | – | – | 16.8% | 6.7% | 8.0% | – | – |
| WFC Wells Fargo | 83.7B USD | +3.0% | – | – | 25.5% | 11.8% | 8.4% | – | – |
| MS Morgan Stanley | 70.6B USD | +7.9% | – | – | 23.9% | 15.1% | 7.9% | – | – |
| CB Chubb Limited | 59.4B USD | +10.5% | – | – | 17.4% | 14.0% | 27.1% | – | – |
| GS Goldman Sachs | 58.3B USD | +5.5% | – | – | 29.5% | 13.7% | 6.9% | – | – |
| Median of the sector 33 symbols | 27.0B USD | +9.1% | – | 39.0% | 26.2% | 13.9% | 18.2% | – | – |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Banks and insurers: gross margin (only if reported), free cash flow margin and Piotroski are not meaningful there (“–”).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 79 symbols in the Financials sector on our list (current members of the S&P 500 and other lists).
+8.6% per year, last 5 years
Sector Financials: median +8.8% (73 symbols)
What does this mean? Revenue: over 5 years it grew by 8.6% per year on average, but more slowly than the median company in the sector (+8.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
+9.5% per year, last 5 years
Sector Financials: median +13.8% (71 symbols)
per share: not available
What does this mean? Total net income: over 5 years it grew by 9.5% per year on average, but more slowly than the median company in the sector (+13.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
18.0% last fiscal year
Sector Financials: median 19.4% (75 symbols)
What does this mean? Of every 100 USD in revenue, 18.03 USD remained as profit – less than the median company in the sector (19.4%). Five years ago the margin was 17.3%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
– latest balance sheet
Sector Financials: median 0.63 (60 symbols)
What does this mean? No usable figure: reported financial debt or positive equity for the same balance sheet date is missing.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Financials: median 34% (58 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
9 of 10 fiscal years with a profit
What does this mean? In 9 of the last 10 fiscal years the bottom line showed a profit. One year ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 371.4B | 67.0B | 18.0% | – | – | – |
| 2024 | Dec 31, 2024 | 371.4B | 89.0B | 24.0% | – | – | – |
| 2023 | Dec 31, 2023 | 364.5B | 96.2B | 26.4% | – | – | – |
| 2022 | Dec 31, 2022 | 302.1B | −22.8B | −7.6% | – | – | – |
| 2021 | Dec 31, 2021 | 276.1B | 89.8B | 32.5% | – | – | – |
| 2020 | Dec 31, 2020 | 245.5B | 42.5B | 17.3% | – | – | – |
| 2019 | Dec 31, 2019 | 254.6B | 81.4B | 32.0% | – | – | – |
| 2018 | Dec 31, 2018 | 247.8B | 4.0B | 1.6% | – | – | – |
| 2017 | Dec 31, 2017 | 242.1B | 44.9B | 18.6% | – | – | – |
| 2016 | Dec 31, 2016 | 223.6B | 24.1B | 10.8% | – | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 101.8B | 25.7B | 25.2% | – | – | – |
| Q1/26 | Mar 31, 2026 | 93.7B | 10.1B | 10.8% | – | – | – |
| Q4/25* | Dec 31, 2025 | 94.2B | 19.2B | 20.4% | – | – | – |
| Q3/25 | Sep 30, 2025 | 95.0B | 30.8B | 32.4% | – | – | – |
| Q2/25 | Jun 30, 2025 | 92.5B | 12.4B | 13.4% | – | – | – |
| Q1/25 | Mar 31, 2025 | 89.7B | 4.6B | 5.1% | – | – | – |
| Q4/24* | Dec 31, 2024 | 94.9B | 19.7B | 20.7% | – | – | – |
| Q3/24 | Sep 30, 2024 | 93.0B | 26.3B | 28.2% | – | – | – |
| Q2/24 | Jun 30, 2024 | 93.7B | 30.3B | 32.4% | – | – | – |
| Q1/24 | Mar 31, 2024 | 89.9B | 12.7B | 14.1% | – | – | – |
| Q4/23* | Dec 31, 2023 | 93.4B | 37.6B | 40.2% | – | – | – |
| Q3/23 | Sep 30, 2023 | 93.2B | −12.8B | −13.7% | – | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $250.1K1 person | $20.0M1 person | −$19.7M |
| 6 months | $500.6K1 person | $20.0M1 person | −$19.5M |
| 12 months | $500.6K1 person | $20.0M1 person | −$19.5M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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