Rankings Financial data & insurance broking Berkshire Hathaway
Berkshire Hathaway
65
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Litigation (PacifiCorp fires)−4
- Quality of growth−3
- The insurance engine−3
Strengths
- Net cash+3
- Buybacks+1
- Broad business+1
How the score is built
From 100 to 65, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 556.11 USD
- Median analyst target
- 529.00 USD
- Upside to median
- −4.9%
- Analysts
- 4
- Target range
- 510.00 – 628.00 USD
- 52-week change
- +16%
- P/E (trailing)
- 14.0
- Forward P/E
- 24.5
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−8 of −30
- −3Quality of growthRevenue has stood still at USD 364-371bn in 2023-2025 (TTM 385bn), and analysts expect broadly unchanged EPS in 2027 (-0.4%); ROE has been only 9.8-14.7% in the last two years. The company is getting bigger via acquisitions, but not stronger.
- −3The insurance engineUnderwriting result fell 19.5% to 7.2 bn USD in 2025, and operating profit in Q4 2025 fell 29.8%; GEICO has lost customers after broad price increases, and reinsurance revenue has fallen from 27.3 to 25.5 bn USD.
- −2Capital allocationUSD 365bn in cash (approx. one third of market cap) earns only the government bond rate, and the largest new acquisitions are cyclical: OxyChem (chemicals, USD 9.7bn) and the homebuilder Taylor Morrison.
Price
Today's multiples against the company's own history and its peers. · 3 findings−7 of −35
- −3Price vs book value (own history)P/B 1.44 and P/TBV 1.72 vs 1.30–1.51 and 1.66–1.87 in 2021–2025 – in the upper half of the range, even though growth in operating profit is lower than before.
- −2FCF yieldFCF yield only 2.2% (P/FCF 45) and P/OCF 23 vs 16–24 in 2021–2023; the large capital expenditure in BNSF and BHE (22 bn USD a year) eats up the cash flow.
- −2Price vs growthForward P/E of around 23 on analysts' operating earnings, while EPS is expected to grow about 1% a year over the next three years and practically nothing in 2027 – a high price for zero growth, even adjusted for the net cash.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−9 of −35
- −3Management changeGreg Abel has taken over after Warren Buffett, and the 2026 letter was the first without Buffett; capital allocation has already changed (large acquisitions, Alphabet purchase), and the market has not yet seen Abel handle a crash or a large insurance loss.
- −4Litigation (PacifiCorp fires)As of 30 June 2026, PacifiCorp has provisioned USD 2.85bn for the wildfires and paid USD 2.28bn in settlements; juries have awarded USD 1.25bn to 201 plaintiffs, and Berkshire itself has estimated that the liability could run to tens of billions. An appeal ruling in April could reduce it.
- −2Portfolio riskEarnings swing sharply with the concentrated equity portfolio: GAAP earnings were USD −22.8bn in 2022 and +96bn in 2023, and equity – on which the P/B assessment is based – thus follows the stock market.
Plus
Only documented strengths. · 3 findings+5 of +15
- +3Net cashNet cash of USD 237bn (USD 111 per share, approx. 22% of the price) and debt/EBITDA below 1.
- +1BuybacksBuybacks resumed in Q1 2026 and about USD 4.5bn in Q2, because management judges the intrinsic value to be above the price; no dividend, so the buyback is clearly below FCF of USD 24bn.
- +1Broad businessOperating profit rose 18% to USD 12.98bn in Q2 2026, and earnings are spread across insurance, railroad, energy, industry and retail with no dependence on single customers.
Caveats
What the score does not capture, or where the data is weak.
Scored on the B share (BRK.B). Conglomerate (insurance, railroad, utilities, industrials, retail) – the industry 'Finance, data & insurance brokerage' has been chosen as the closest, as insurance is the core. GAAP earnings and P/E are distorted by unrealised price gains on the equity portfolio, and stockanalysis' EPS forecasts are per A share; the assessment is therefore based on P/B and operating profit. Only 4 analysts cover the stock.
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