Berkshire Hathaway Inc.

Name: Berkshire Hathaway Inc. financial statements and ratios
Creator: Annalist

BRK-A, BRK-B · NYSE · Financials, insurance and diversified holdings · United States · US GAAP · Fiscal year ends December

Latest report: Q2 FY2026, the quarter ended 30 June 2026, released 10 August 2026. Snapshot FY2026Q2_a1718730.

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Overview

Revenue, quarter

+10.0% year on year

Pre-tax income, quarter

+117% year on year

Net income, quarter

+107% year on year

Diluted EPS, quarter

n/a

Pre-tax margin, last 4 quarters

+7.2pp year on year

Return on equity, last 4 quarters

+2.2pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 30 June 2026 was US$101.8 billion, 10.0% higher than in the same quarter a year earlier.
Strengthenedin Q2 FY2026 · stated since Q1 FY2026
Rule: Revenue against a year earlier · Sources 10-Q 2026-06
History of this finding, 15 records
1. Q2 FY2026 StrengthenedRevenue for the quarter ended 30 June 2026 was US$101.8 billion, 10.0% higher than in the same quarter a year earlier.Recorded from FY2026Q2_bb16a6ae · data update
2. Q1 FY2026 NewRevenue for the quarter ended 31 March 2026 was US$93.7 billion, 4.4% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q1 FY2026 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
4. Q4 FY2025 NewRevenue for the quarter ended 31 December 2025 was US$94.2 billion, 0.7% lower than in the same quarter a year earlier.Reconstructed · data update
5. Q4 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
6. Q3 FY2025 NewRevenue for the quarter ended 30 September 2025 was US$95.0 billion, 2.1% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q3 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
8. Q2 FY2025 StrengthenedRevenue for the quarter ended 30 June 2025 was US$92.5 billion, 1.2% lower than in the same quarter a year earlier.Reconstructed · data update
9. Q1 FY2025 NewRevenue for the quarter ended 31 March 2025 was US$89.7 billion, 0.2% lower than in the same quarter a year earlier.Reconstructed · data update
10. Q1 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
11. Q4 FY2024 NewRevenue for the quarter ended 31 December 2024 was US$94.9 billion, 1.6% higher than in the same quarter a year earlier.Reconstructed · data update
12. Q4 FY2024 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
13. Q3 FY2024 NewRevenue for the quarter ended 30 September 2024 was US$93.0 billion, 0.2% lower than in the same quarter a year earlier.Reconstructed · data update
14. Q3 FY2024 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
15. Q2 FY2024 NewRevenue for the quarter ended 30 June 2024 was US$93.7 billion, 1.2% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$25.7 billion, 107.5% higher than in the same quarter a year earlier.
Weakenedin Q2 FY2026 · stated since Q1 FY2026
Rule: Net income against a year earlier · Sources 10-Q 2026-06
History of this finding, 14 records
1. Q2 FY2026 WeakenedNet income attributable to the company was US$25.7 billion, 107.5% higher than in the same quarter a year earlier.Recorded from FY2026Q2_bb16a6ae · data update
2. Q1 FY2026 NewNet income attributable to the company was US$10.1 billion, 119.6% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q1 FY2026 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
4. Q4 FY2025 NewNet income attributable to the company was US$19.2 billion, 2.5% lower than in the same quarter a year earlier.Reconstructed · data update
5. Q4 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
6. Q3 FY2025 NewNet income attributable to the company was US$30.8 billion, 17.3% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q3 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
8. Q2 FY2025 WeakenedNet income attributable to the company was US$12.4 billion, 59.2% lower than in the same quarter a year earlier.Reconstructed · data update
9. Q1 FY2025 StrengthenedNet income attributable to the company was US$4.6 billion, 63.8% lower than in the same quarter a year earlier.Reconstructed · data update
10. Q4 FY2024 NewNet income attributable to the company was US$19.7 billion, 47.6% lower than in the same quarter a year earlier.Reconstructed · data update
11. Q4 FY2024 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
12. Q3 FY2024 NewNet income attributable to the company was US$26.3 billion, against a net loss of US$12.8 billion in the same quarter a year earlier.Reconstructed · data update
13. Q3 FY2024 RetiredThe finding changed to a profit after a loss a year earlier.Reconstructed · data update
14. Q2 FY2024 NewNet income attributable to the company was US$30.3 billion, 15.5% lower than in the same quarter a year earlier.Reconstructed · initial
Return on equity over the last 4 quarters was 12.1%, against 9.9% a year earlier.
Confirmedin Q2 FY2026 · first stated
Rule: Return on equity against a year earlier · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 3 more
History of this finding, 13 records
1. Q2 FY2026 ConfirmedReturn on equity over the last 4 quarters was 12.1%, against 9.9% a year earlier.Recorded from FY2026Q2_bb16a6ae · wording
2. Q2 FY2026 NewReturn on equity over the last four quarters was 12.1%, against 9.9% a year earlier.Recorded from FY2026Q2_bb16a6ae · data update
3. Q2 FY2026 RetiredThe finding changed to higher than a year earlier.Recorded from FY2026Q2_bb16a6ae · data update
4. Q1 FY2026 WeakenedReturn on equity over the last four quarters was 10.5%, against 13.2% a year earlier.Reconstructed · data update
5. Q4 FY2025 WeakenedReturn on equity over the last four quarters was 9.8%, against 14.7% a year earlier.Reconstructed · data update
6. Q3 FY2025 StrengthenedReturn on equity over the last four quarters was 10.2%, against 18.5% a year earlier.Reconstructed · data update
7. Q2 FY2025 StrengthenedReturn on equity over the last four quarters was 9.9%, against 11.9% a year earlier.Reconstructed · data update
8. Q1 FY2025 WeakenedReturn on equity over the last four quarters was 13.2%, against 13.6% a year earlier.Reconstructed · data update
9. Q4 FY2024 NewReturn on equity over the last four quarters was 14.7%, against 18.6% a year earlier.Reconstructed · data update
10. Q4 FY2024 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
11. Q3 FY2024 NewReturn on equity over the last four quarters was 18.5%, against 15.6% a year earlier.Reconstructed · data update
12. Q3 FY2024 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
13. Q2 FY2024 NewReturn on equity over the last four quarters was 11.9%, against 17.3% a year earlier.Reconstructed · initial
Free cash flow over the last 4 quarters was US$24.2 billion, and operating cash flow was 0.5 times net income attributable to the company.
Interpretation. Operating cash flow paid for all capital expenditure, and the rest is free for dividends, share buybacks or debt repayment.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Free cash flow · Sources 10-Q 2025-06, 10-Q 2025-09, 10-K 2025-12 and 2 more
History of this finding, 10 records
1. Q2 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$24.2 billion, and operating cash flow was 0.5 times net income attributable to the company.Recorded from FY2026Q2_bb16a6ae · wording
2. Q2 FY2026 ConfirmedFree cash flow over the last four quarters was US$24.2 billion, and operating cash flow was 0.5 times net income attributable to the company.Recorded from FY2026Q2_bb16a6ae · data update
3. Q1 FY2026 ConfirmedFree cash flow over the last four quarters was US$23.9 billion, and operating cash flow was 0.6 times net income attributable to the company.Reconstructed · data update
4. Q4 FY2025 StrengthenedFree cash flow over the last four quarters was US$25.0 billion, and operating cash flow was 0.7 times net income attributable to the company.Reconstructed · data update
5. Q3 FY2025 StrengthenedFree cash flow over the last four quarters was US$19.3 billion, and operating cash flow was 0.6 times net income attributable to the company.Reconstructed · data update
6. Q2 FY2025 WeakenedFree cash flow over the last four quarters was US$8.2 billion, and operating cash flow was 0.4 times net income attributable to the company.Reconstructed · data update
7. Q1 FY2025 ConfirmedFree cash flow over the last four quarters was US$12.1 billion, and operating cash flow was 0.4 times net income attributable to the company.Reconstructed · data update
8. Q4 FY2024 WeakenedFree cash flow over the last four quarters was US$11.6 billion, and operating cash flow was 0.3 times net income attributable to the company.Reconstructed · data update
9. Q3 FY2024 WeakenedFree cash flow over the last four quarters was US$21.0 billion, and operating cash flow was 0.4 times net income attributable to the company.Reconstructed · data update
10. Q2 FY2024 NewFree cash flow over the last four quarters was US$32.3 billion, and operating cash flow was 0.8 times net income attributable to the company.Reconstructed · initial

Records before Q2 FY2026 are reconstructed from the latest snapshot. Ledger: findings.json. Correction of 20 October 2026: The fourth quarter of 2021 of Berkshire Hathaway came from a fiscal year and 9 months of different filings; it now comes from one set of filings, with net income of US$39.65 billion where US$39.79 billion was published. 3 quarterly amortisation and depreciation figures that rested on lines of different scope are no longer published. No finding cites the figures. Correction of 22 October 2026: Changes against a year earlier compared 2 figures of different bases where a stock split, a spin-off or a restatement came between the 2 periods. 11 growth values changed, among them net income growth for the first quarter of fiscal 2022, minus 52.4% before the correction and minus 53.4% on one basis. No finding states the changes concerned.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents26 documents, latest Form 10-Q, period ended 30 June 2026List

DownloadsExcel workbook · JSON

SnapshotFY2026Q2_a1718730

Corporate Events

No corporate event found in the filings since 2020.

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Income Before Income Taxes

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

Q2 FY2026

Form 10-Q, period ended 30 June 2026, filed 10 August 2026. Changes are against the previous report, and each figure shows its period.

3changes1threshold crossed

Changes in This Report 3

StrengthenedRevenue Against a Year Earlier10-Q 2026-06
Revenue for the quarter ended 30 June 2026 was US$101.8 billion, 10.0% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Revenue for the quarter ended 31 March 2026 was US$93.7 billion, 4.4% higher than in the same quarter a year earlier.
WeakenedNet Income Against a Year Earlier10-Q 2026-06
Net income attributable to the company was US$25.7 billion, 107.5% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Net income attributable to the company was US$10.1 billion, 119.6% higher than in the same quarter a year earlier.
NewReturn on Equity Against a Year Earlier10-Q 2026-06
Return on equity over the last 4 quarters was 12.1%, against 9.9% a year earlier.
Earlier record, Q1 FY2026
Return on equity over the last four quarters was 10.5%, against 13.2% a year earlier.

Thresholds Crossed 1

ConfirmedCash Backing of Earnings
Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 3.2% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsLease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

These ratios are not computed for this company; the method below gives the reason.

Method

Not computed: the company is an insurer (SIC 6331), where debt to EBITDA and the related ratios do not measure credit; financial companies need a template of their own.
Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.

Liquidity and MaturitiesCash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

These ratios have no value for the figures of this company.

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityEarnings above cash flowCash-flow accruals 3.2% · Q2 FY2026

Accruals and the cash backing of reported earnings.

Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 3.2% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Cash backing of earnings · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 2 more
History of this finding, 10 records
1. Q2 FY2026 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 3.2% of average total assets.Recorded from FY2026Q2_d6d67a49 · methodology
2. Q2 FY2026 StrengthenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 3.2% of average total assets.Recorded from FY2026Q2_db1bcd98 · data update
3. Q1 FY2026 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 2.2% of average total assets.Reconstructed · data update
4. Q4 FY2025 WeakenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.8% of average total assets.Reconstructed · data update
5. Q3 FY2025 WeakenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 2.4% of average total assets.Reconstructed · data update
6. Q2 FY2025 WeakenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 3.1% of average total assets.Reconstructed · data update
7. Q1 FY2025 WeakenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 4.5% of average total assets.Reconstructed · data update
8. Q4 FY2024 WeakenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 5.3% of average total assets.Reconstructed · data update
9. Q3 FY2024 StrengthenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 6.1% of average total assets.Reconstructed · data update
10. Q2 FY2024 NewNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.5% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company		n/a
Working capital investment to revenueCash put into receivables and stock, less extra credit from suppliers and customers, as a share of revenue. A positive figure means growth or slower collection uses cash.(Increase in receivables + increase in inventories - increase in payables - increase in contract liabilities) / revenue

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresPublished distress and misstatement models, with their original coefficients and thresholds.

Published distress and misstatement models, with their original coefficients and thresholds.

These ratios have no value for the figures of this company.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 30 June 2026	10 Aug 2026	10-Q:0001193125-26-341032
Form 10-Q, period ended 31 March 2026	4 May 2026	10-Q:0001193125-26-202243
Form 10-K, period ended 31 December 2025	2 Mar 2026	10-K:0001193125-26-083899
Form 10-Q, period ended 30 September 2025	3 Nov 2025	10-Q:0001193125-25-261548
Form 10-Q, period ended 30 June 2025	4 Aug 2025	10-Q:0000950170-25-101578
Form 10-Q, period ended 31 March 2025	5 May 2025	10-Q:0000950170-25-063112
Form 10-K, period ended 31 December 2024	24 Feb 2025	10-K:0000950170-25-025210
Form 10-Q, period ended 30 September 2024	4 Nov 2024	10-Q:0000950170-24-120241
Form 10-Q, period ended 30 June 2024	5 Aug 2024	10-Q:0000950170-24-090305
Form 10-Q, period ended 31 March 2024	6 May 2024	10-Q:0000950170-24-053185
Form 10-K, period ended 31 December 2023	26 Feb 2024	10-K:0000950170-24-019719
Form 10-Q, period ended 30 September 2023	6 Nov 2023	10-Q:0000950170-23-058993
Form 10-Q, period ended 30 June 2023	7 Aug 2023	10-Q:0000950170-23-038705
Form 10-Q, period ended 31 March 2023	8 May 2023	10-Q:0000950170-23-018438
Form 10-K, period ended 31 December 2022	27 Feb 2023	10-K:0000950170-23-004451
Form 10-Q, period ended 30 September 2022	7 Nov 2022	10-Q:0000950170-22-022287
Form 10-Q, period ended 30 June 2022	8 Aug 2022	10-Q:0001564590-22-028282
Form 10-Q, period ended 31 March 2022	2 May 2022	10-Q:0001564590-22-016907
Form 10-K, period ended 31 December 2021	28 Feb 2022	10-K:0001564590-22-007322
Form 10-Q, period ended 30 September 2021	8 Nov 2021	10-Q:0001564590-21-055032
Form 10-Q, period ended 30 June 2021	9 Aug 2021	10-Q:0001564590-21-042312
Form 10-Q, period ended 31 March 2021	3 May 2021	10-Q:0001564590-21-022703
Form 10-K, period ended 31 December 2020	1 Mar 2021	10-K:0001564590-21-009611
Form 10-Q, period ended 30 September 2020	9 Nov 2020	10-Q:0001564590-20-052144
Form 10-Q, period ended 30 June 2020	10 Aug 2020	10-Q:0001564590-20-038544
Form 10-Q, period ended 31 March 2020	4 May 2020	10-Q:0001564590-20-020599

Checks

227210 of 227 checks passed, 17 warnings

Fiscal calendar68 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year81 of 89 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level; a difference that a later report explains is a warning, which does not stop publication.

Revenue, FY2020: $245,510m against $245,579m

Revenue, FY2021: $276,203m against $276,185m

Income before income taxes, FY2021: $111,686m against $111,861m

Income tax expense, FY2021: $20,879m against $20,912m

Net income including noncontrolling interests, FY2021: $90,807m against $90,949m

Net income attributable to the company, FY2021: $89,795m against $89,937m

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity26 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Balance sheet structure18 of 21 passedTotal assets equal liabilities, temporary equity and total equity. Checked at warning level.

30 Jun 2023: $1,041,573m against $1,038,363m

30 Sep 2023: $1,019,933m against $1,016,703m

31 Dec 2023: $1,069,978m against $1,066,717m

Lease liabilities6 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

Debt maturities0 of 6 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.

31 Dec 2020: $28,713m against $0

31 Dec 2021: $28,806m against $0

31 Dec 2022: $22,805m against $0

31 Dec 2023: $24,083m against $0

31 Dec 2024: $22,457m against $0

31 Dec 2025: $23,953m against $0

Quarters and 9 months10 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	836
Proven by a check	60.0%, 502 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	25.7%, 215 values
Values withheld	0
Restated figures tracked	58
Changes compared on one basis	16
Company lines mapped	0 of 1 reviewed

Citation

Annalist, Berkshire Hathaway Inc., snapshot berkshire-hathaway/FY2026Q2_a1718730 (as of FY2026 Q2); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026Q2_a1718730 · dataset SHA-256 a17187304e34f18a0b497a8ad9627426956404ddbcb00cce4aa12cf997e48ce8 · findings rules 0.4

Data: info.json · dataset.json · validation.json · documents.json