Filing Flows › Berkshire Hathaway (BRK-B) › Q4 2025
Berkshire Hathaway (BRK-B) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Berkshire Hathaway (BRK-B) reported revenue of $94.2B for the fourth quarter 2025 (Q4 2025), -0.7% from a year earlier and -0.8% from the quarter before. Operating margin was 13.3%, net earnings $19.3B (20.4% of revenue).
Berkshire Hathaway, Q4 2025: revenue $94.2B (-0.7% year over year), operating margin 13.3%, net earnings $19.3B, operating cash flow $11.2B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $94.2B | -0.8% | -0.7% |
| Operating profit | $12.5B | -21% | -24% |
| Net earnings | $19.3B | -38% | -2% |
| Operating cash flow | $11.2B | -19% | +142% |
| Free cash flow | $5.0B | -39% | — |
What changed
Revenue was $94.2B in Q4 2025, down 1% year over year and down 1% from the previous quarter. Insurance Corporate and Other was the largest line at 29% of revenue.
Operating profit was $12.5B, a 13.3% margin (down 4.2 points year over year). Total costs grew 4% against a revenue fall of 1%. Net earnings were $19.2B, down 3% year over year. The effective tax rate was 21.2%. Non-operating items added $11.9B, 49% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $11.2B (up 142% year over year), 58% of net earnings. Non-cash charges added back $3.5B of depreciation and amortization. Working capital and other items used $11.6B. Capital expenditures of $6.2B left free cash flow of $5.0B.
Questions
What was Berkshire Hathaway's revenue in the fourth quarter 2025?
Berkshire Hathaway (BRK-B) reported revenue of $94.2B for the fourth quarter 2025 (Q4 2025), -0.7% from a year earlier and -0.8% from the quarter before.
Was Berkshire Hathaway profitable in the fourth quarter 2025?
Operating profit was $12.5B (13.3% of revenue) and net earnings $19.3B.
Source: Berkshire Hathaway 10-K on SEC EDGAR.