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How Berkshire Hathaway (BRK-B) makes money
Berkshire Hathaway (BRK-B) made $101.8B of revenue in the second quarter 2026 (Q2 2026), +10% from a year earlier. Insurance Corporate and Other brought in $27.3B (27%); Manufacturing Businesses brought in $22.5B (22%); Pilot Travel Centers LLC brought in $14.9B (15%). Of every dollar of revenue, 15¢ was left as operating profit, 25¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Insurance Corporate and Other | $27.3B | 26.8% | +3% | +0.2% |
| Manufacturing Businesses | $22.5B | 22.1% | +9% | +13% |
| Pilot Travel Centers LLC | $14.9B | 14.7% | +33% | +48% |
| Mc Lane Company | $11.9B | 11.7% | +1% | -4% |
| Service and Retailing Businesses | $11.9B | 11.6% | +8% | +11% |
| Berkshire Hathaway Energy Company | $6.7B | 6.6% | +1% | +5% |
| Burlington Northern Santa Fe Corporation | $6.6B | 6.5% | +10% | +14% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $101.8B | 100.0% |
| Operating profit | $15.7B | 15.5% |
| Income tax | $6.3B | 6.2% |
| Net earnings | $25.7B | 25.2% |
| Operating cash flow | $11.2B | 11.0% |
| Free cash flow | $5.6B | 5.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $101.8B | +10% |
| Q1 2026 | $93.7B | +4% |
| Q4 2025 | $94.2B | -0.7% |
| Q3 2025 | $95.0B | +2% |
| Q2 2025 | $92.5B | -1% |
| Q1 2025 | $89.7B | -0.2% |
| Q4 2024 | $94.9B | +2% |
From Berkshire Hathaway's 10-Q filed Aug 10, 2026 (on EDGAR).
Questions
How does Berkshire Hathaway make money?
Berkshire Hathaway (BRK-B) made $101.8B of revenue in the second quarter 2026 (Q2 2026), +10% from a year earlier. Insurance Corporate and Other brought in $27.3B (27%); Manufacturing Businesses brought in $22.5B (22%); Pilot Travel Centers LLC brought in $14.9B (15%). Of every dollar of revenue, 15¢ was left as operating profit, 25¢ was left as net earnings.
What is Berkshire Hathaway's biggest business?
Insurance Corporate and Other: $27.3B in the second quarter 2026, 27% of revenue, +0.2% from a year earlier.
What is Berkshire Hathaway's profit margin?
Net earnings were $25.7B, 25.2% of revenue, in the second quarter 2026; the operating margin was 15.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.