BRK-A BERKSHIRE HATHAWAY INC

Overview and Growth

In fiscal 2025, BERKSHIRE HATHAWAY INC recorded $371.44B of revenue, net income of $66.97B, and an operating cash inflow of $45.97B. Revenue of $371.44B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $371.43B in fiscal 2024, revenue recorded a 0.0% year-over-year increase. The company employed $1.22T of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.3x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Net income came to $66.97B, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 18.0% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $82.46B of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 22.2%, relating income before taxes directly to revenue. The reported income-tax provision was $15.20B, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 18.4%, without assuming a statutory-rate comparison. Return on period-end equity was 9.3%, relating annual net income to the equity capital on the balance sheet. Net income represented 5.5% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Current net income of $66.97B was below fiscal 2024 net income of $89.00B, showing the direction of the bottom-line change.

Liquidity and Capital Structure

The company held $1.22T of assets against $502.47B of liabilities and $719.70B of equity, revealing how the asset base was financed. The company held $52.57B in cash and equivalents, a narrower liquidity measure than total current assets. Equity equaled 58.9% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 41.1%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 4.3%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 5.9% from $1.15T in fiscal 2024, leaving current total assets higher year over year. Book equity was 10.4% higher than fiscal 2024 equity of $651.65B, showing how shareholder capital changed year over year. Compared with $48.38B in fiscal 2024, the current cash balance moved 8.7% and finished higher.

Cash Flow and Earnings Quality

The company reported $45.97B of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 0.69x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $20.93B, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 45.5% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $25.04B, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 6.7%, showing how much sales converted into cash after investment. Free cash flow equaled 2.0% of total assets, relating post-investment cash generation to the company’s resource base. Compared with $30.59B in fiscal 2024, current operating cash flow of $45.97B was above the prior result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.