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Berkshire Hathaway cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$5.6B in Q2 2026 · $24.2B over twelve months

Operating cash flow$11.2B
Capital spending−$5.6B
Free cash flow+$5.6B
Cash / net income0.4×

Analysis

In Q2 2026, Berkshire Hathaway generated $11.2B of operating cash flow and spent $5.6B on capital projects, leaving free cash flow of $5.6B. That is $343M more than in Q2 2025 ($5.2B).

Over the twelve months to Jun 30, 2026, operating cash flow was $46.6B; the largest uses were other investing ($73.0B), capital spending ($22.4B), acquisitions ($10.7B); the cash balance fell by $59.9B.

Operating cash flow was $11.2B against net income of $25.8B — 0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: gains on investments −$16.1B, depreciation & amortization +$3.6B, other liabilities +$2.5B.

Free cash flow

Berkshire Hathaway: free cash flow by quarterBerkshire Hathaway: free cash flow by quarter−$2.9BQ3 2024−$726MQ4 2024$6.6BQ1 2025$5.2BQ2 2025$8.2BQ3 2025$5.0BQ4 2025$5.5BQ1 2026$5.6BQ2 2026
Operating cash flow less capital spending.
Berkshire Hathaway: operating cash flow against capital spendingBerkshire Hathaway: operating cash flow against capital spendingOperating cash flowCapital spending$1.8B$4.7BQ3 2024$4.6B$5.3BQ4 2024$10.9B$4.3BQ1 2025$10.1B$4.9BQ2 2025$13.8B$5.6BQ3 2025$11.2B$6.2BQ4 2025$10.4B$5.0BQ1 2026$11.2B$5.6BQ2 2026
Latest (Q2 2026): Operating cash flow $11.2B, Capital spending $5.6B.

Capital allocation, year by year

Berkshire Hathaway: where the cash came from (up) and went (down), by fiscal yearBerkshire Hathaway: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $39.4BFY2021: Net borrowing −$624MFY2021: Capital spending −$13.3BFY2021: Acquisitions −$456MFY2021: Buybacks −$27.1B$39.4BFY2021FY2022: Operating cash flow $37.4BFY2022: Net borrowing −$596MFY2022: Capital spending −$15.5BFY2022: Acquisitions −$10.6BFY2022: Buybacks −$7.9B$37.4BFY2022FY2023: Operating cash flow $49.2BFY2023: Net borrowing $2.4BFY2023: Capital spending −$19.4BFY2023: Acquisitions −$8.6BFY2023: Buybacks −$9.2B$51.6BFY2023FY2024: Operating cash flow $30.6BFY2024: Net borrowing −$3.1BFY2024: Capital spending −$19.0BFY2024: Acquisitions −$396MFY2024: Buybacks −$2.9B$30.6BFY2024FY2025: Operating cash flow $46.0BFY2025: Net borrowing $878MFY2025: Capital spending −$20.9BFY2025: Acquisitions −$1.1B$46.8BFY2025
Over these 5 years operating cash flow totalled $202.5B; the largest uses were capital spending ($88.1B) and buybacks ($47.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$41.4B
Debtnone
Net cash$41.4B

Berkshire Hathaway funds itself: free cash flow was $24.2B over the last twelve months, with $41.4B of cash and investments and no debt on the balance sheet.

Berkshire Hathaway: debt maturities by year (FY2025)Berkshire Hathaway: debt maturities by year (FY2025)$6.6BYear 2$5.2BYear 3$6.3BYear 4$5.8BYear 5
Principal due in each year as disclosed in the annual report, against $41.4B of cash and investments now.

Where the cash came from and went

Berkshire Hathaway: sources (+) and uses (−) of cash, Q2 2026Berkshire Hathaway: sources (+) and uses (−) of cash, Q2 2026Other investing−$18.7BCash drawn (+) / kept (−)$17.4BOperating cash flow$11.2BCapital spending−$5.6BBuybacks−$4.2BOther financing−$462MNet borrowing (+) / repaid (−)$388MExchange rates−$46.0MAcquisitions−$14.0M
Berkshire Hathaway: sources (+) and uses (−) of cash, TTM to Q2 2026Berkshire Hathaway: sources (+) and uses (−) of cash, 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 profit to cash

Berkshire Hathaway: net income to operating cash flow, Q2 2026Berkshire Hathaway: net income to operating cash flow, Q2 2026Net income$25.8BDepreciation & amortization$3.6BGains on investments−$16.1BOther non-cash−$217MReceivables−$2.2BPrepaid and other assets−$1.3BOther liabilities$2.5BIncome taxes payable$1.1BOperating cash flow$11.2B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$11.2B−$5.6B−$14.0M−$4.2B$388M$17.4B$5.6B
Q1 2026$10.4B−$5.0B−$9.7B−$235M−$961M−$6.2B$5.5B
Q4 2025$11.2B−$6.2B——$250M$24.5B$5.0B
Q3 2025$13.8B−$5.6B——$58.0M$24.1B$8.2B
Q2 2025$10.1B−$4.9B−$11.0M—$985M−$58.4B$5.2B
Q1 2025$10.9B−$4.3B−$90.0M—−$415M$5.5B$6.6B
Q4 2024$4.6B−$5.3B−$34.0M—$348M−$10.4B−$726M
Q3 2024$1.8B−$4.7B−$20.0M—−$246M$5.1B−$2.9B

Berkshire Hathaway: income statement and cash flow

Berkshire Hathaway, Q2 2026: revenue $101.8B (+10% year over year), operating margin 15.5%. The chart follows the revenue to costs, profit and cash.

Berkshire Hathaway: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.