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Berkshire Hathaway (BRK-B) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Berkshire Hathaway (BRK-B) Q2 2026 earnings results →

Q2 2026 Revenue up 10% year over year to $101.8B · 25¢ of every $1 of revenue kept as net profit · operating margin 15.5%

Berkshire Hathaway made $101.8B in Q2 2026 (+10% Y/Y): Insurance Corporate and Other $27.3B, Manufacturing Businesses $22.5B, Pilot Travel Centers LLC $14.9B. Operating margin 15.5%, net earnings $25.7B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.

Revenue$101.8B
Year over year+10%
Operating margin15.5%
Net earnings$25.7B
Operating cash flow$11.2B

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

Berkshire Hathaway Q2 2026 revenue breakdown: Sankey diagram of revenue (Insurance Corporate and Other, Manufacturing Businesses, Pilot Travel Centers LLC, Mc Lane Company), costs, profit and cash flow
Berkshire Hathaway Q2 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $101.8B in Q2 2026, up 10% year over year and up 9% from the previous quarter. Insurance Corporate and Other was the largest line at 27% of revenue. Pilot Travel Centers LLC added $4.8B year over year (up 48%), 52% of the total change. Mc Lane Company declined 4%.

Operating profit was $15.7B, a 15.5% margin (up 1.3 points year over year). Of the extra revenue versus Q2 2025, 28% reached operating profit, above the 14% margin then. Total costs grew 8% against revenue growth of 10%. Net earnings were $25.7B, up 107% year over year. The effective tax rate was 19.6%. Non-operating items added $16.3B, 51% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $11.2B (up 11% year over year), 44% of net earnings. Non-cash charges added back $3.6B of depreciation and amortization. Working capital and other items used $18.2B. Capital expenditures of $5.6B left free cash flow of $5.6B.

Quarterly history

Berkshire Hathaway revenue by quarterBerkshire Hathaway revenue by quarter$94.9BQ4 2024$89.7BQ1 2025$92.5BQ2 2025$95.0BQ3 2025$94.2BQ4 2025$93.7BQ1 2026$101.8BQ2 2026
Berkshire Hathaway net earnings by quarterBerkshire Hathaway net earnings by quarter$19.7BQ4 2024$4.6BQ1 2025$12.4BQ2 2025$30.8BQ3 2025$19.3BQ4 2025$10.2BQ1 2026$25.7BQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 10, 2026$101.8B+10%15.5%$25.7B$11.2B
Q1 202610-QMay 4, 2026$93.7B+4%14.7%$10.2B$10.4B
Q4 202510-KMar 2, 2026$94.2B-0.7%13.3%$19.3B$11.2B
Q3 202510-QNov 3, 2025$95.0B+2%16.7%$30.8B$13.8B
Q2 202510-QAug 4, 2025$92.5B-1%14.2%$12.4B$10.1B
Q1 202510-QMay 5, 2025$89.7B-0.2%12.8%$4.6B$10.9B
Q4 202410-KFeb 24, 2025$94.9B+2%17.5%$19.7B$4.6B

Charts

Berkshire Hathaway: revenue growth, year over year and quarter over quarterBerkshire Hathaway: revenue growth, year over year and quarter over quarterY/YQ/Q+2%Q4 20240%-5%Q1 2025-1%+3%Q2 2025+2%+3%Q3 2025-1%-1%Q4 2025+4%-1%Q1 2026+10%+9%Q2 2026
Latest (Q2 2026): Y/Y +10%, Q/Q +9%.
Berkshire Hathaway: where the cash came from (+) and went (−), TTM to Q2 2026Berkshire Hathaway: where the cash came from (+) and went (−), TTM to Q2 2026Other investing−$73.0BCash drawn (+) / kept (−)$59.9BOperating cash flow$46.6BCapital spending−$22.4BAcquisitions−$10.7BOther financing−$498MExchange rates$349MNet borrowing (+) / repaid (−)−$265M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Berkshire Hathaway: profit against cash, quarter by quarterBerkshire Hathaway: profit against cash, quarter by quarterNet incomeOperating cash flow$26.5B$1.8BQ3 2024$19.8B$4.6BQ4 2024$4.7B$10.9BQ1 2025$12.5B$10.1BQ2 2025$30.9B$13.8BQ3 2025$19.3B$11.2BQ4 2025$10.2B$10.4BQ1 2026$25.8B$11.2BQ2 2026
Latest (Q2 2026): Net income $25.8B, Operating cash flow $11.2B.
Berkshire Hathaway: long-term debt falling due (FY2025)Berkshire Hathaway: long-term debt falling due (FY2025)$6.6B2027$5.2B2028$6.3B2029$5.8B2030
Cash $52.6B, short-term investments —, long-term debt — at 2025-12-31.
Berkshire Hathaway in its industry: growth against margin (56 companies, SIC 6331)Berkshire Hathaway in its industry: growth against margin (56 companies, SIC 6331)revenue growth, year over year →↑ operating marginmedian +2%median 14%PGRALLCBTRVAIGHIGLACGLMKLCNAWRBEGCINFAFGEverest Reinsurance Holdings IncAXSTHGRNRMCYSIGIKMPRSPNTHGWTMTIPTRLISKWDKNSLUVEHMNUFCSPLMRROOTSLDELMNDSAFTHCIDGICAHRTGEIGBOWJRVRHIPOGLREASICAIIGBLIAMSFACICNODKKINSKWYPRHIKGOXBRBRK-B (+10%, 16%)
Fire, Marine & Casualty Insurance; dot size is quarterly revenue; dashed lines are the industry's medians.

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Customers and suppliers named in filings

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About Berkshire Hathaway

Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

In its own words, from its 8-K, filed Aug 11, 2026.

Berkshire Hathaway against its Fire, Marine & Casualty Insurance peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +2%. Operating margin: 15.5% against the peers' median 15.5%.

CompanyQuarterRevenueY/YOp. margin
BRK-B Berkshire HathawayQ2 2026$101.8B+10%15.5%
PGR ProgressiveQ3 2026$23.2B+3%14.0%
ALL AllstateQ3 2026$17.3B+0.5%15.1%
CB ChubbQ3 2026$16.2B+0.3%21.0%
TRV Travelers CompaniesQ3 2026$12.4B-0.5%19.1%
AIG American International GroupQ3 2026$7.4B+17%15.0%
HIG Hartford Insurance GroupQ3 2026$7.2B+4%21.9%
L LoewsQ3 2026$4.8B+2%8.5%
ACGL Arch Capital GroupQ3 2026$4.7B-9%25.5%

Source: Berkshire Hathaway 10-Q on SEC EDGAR · CIK 1067983 · Fire, Marine & Casualty Insurance

13F: who owns BRK-B and who is buying

Largest holders of BRK-B (13F)Largest holders of BRK-B (13F)Vanguard Group$79.0BBlackRock$60.6BVanguard Capital Management LLC$59.2BState Street$37.9BGeode Capital Management, LLC$20.7BMorgan Stanley$13.3BVanguard Portfolio Management LLC$12.2BNorthern Trust$7.7BGates Foundation Trust$7.4BCharles Schwab Investment Managem…$5.8B
Funds' net buying of BRK-B by quarter (13F)Funds' net buying of BRK-B by quarter (13F)−$624M2024-09−$1.9B2024-12$2.5B2025-03$4.8B2025-06−$1.7B2025-09$14.5B2025-12$1.2B2026-03$3.9B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BRK-B

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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中文版：伯克希尔·哈撒韦（BRK-B）财报

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