Earnings quality
Compare earnings and operating cash flow for earnings quality.
Berkshire Hathaway Inc.
Ticker BRK-B · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-03-02 · Period end 2025-12-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is 8.1%; equity ratio is 58.7%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin8.1%
Equity ratio58.7%
Last priceUSD 579.09
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
BERKSHIRE HATHAWAY INC is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 4023461400 · As of filing date 2026-03-02
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $249.7B | $247.2B |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit | $17.2B | $20.1B |
| Income tax | $20.8B | $15.2B |
| Net income | $89.0B | $67.0B |
| Basic EPS | — | — |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $28.0B | $31.6B |
| Current assets | — | — |
| Non-current assets* | — | — |
| Total assets | $1.2T | $1.2T |
| Current liabilities | — | — |
| Non-current liabilities* | — | — |
| Total liabilities | $502.2B | $502.5B |
| Stockholders’ equity | $649.4B | $717.4B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $30.6B | $46.0B |
| Investing cash flow | -$10.3B | -$44.5B |
| Financing cash flow | -$10.4B | $2.2B |
| Cash at end of period | $28.0B | $31.6B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $191.3B | $207.8B | $254.9B | $249.7B | $247.2B | |
| Net income | $89.9B | -$22.8B | $96.2B | $89.0B | $67.0B | |
| Total assets | $959.4B | $948.5B | $1.1T | $1.2T | $1.2T | |
| Stockholders’ equity | $506.2B | $473.4B | $561.3B | $649.4B | $717.4B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from $249.7B to $247.2B (▼ -1.0%). Operating profit went from $17.2B to $20.1B (▲ +16.8%).
Operating cash flow was $46.0B (prior $30.6B), with cash on the balance sheet at $31.6B versus $28.0B.
Liquidity & leverage
Cash moved from $28.0B to $31.6B; current liabilities —.
Capital buffer
Stockholders’ equity moved from $649.4B to $717.4B.
Was this page helpful?
Source: SEC EDGAR 0001193125-26-083899
(BERKSHIRE HATHAWAY INC), period end 2025-12-31.