Berkshire Hathaway
Berkshire Hathaway is a global holding company that manages a highly decentralized portfolio of subsidiaries across diverse industries. Its core value proposition lies in its exceptional capital strength and a management philosophy that empowers individual business units while centralizing significant capital allocation and investment decisions. The company's primary operations span insurance and reinsurance, freight rail transportation, and regulated energy utilities, supplemented by a vast array of manufacturing, service, and retailing businesses.
Financials
Based on Q3 2025 filing
Business Segments
Insurance
primaryProvides primary insurance and reinsurance of property, casualty, life, and health risks globally. This segment is a critical source of 'float'—policyholder funds used for the company's massive investment portfolio.
GEICO, Berkshire Hathaway Primary Group, Berkshire Hathaway Reinsurance Group, National Indemnity Company, General Re, TransRe, MedPro Group, Guard Insurance Companies
Individual consumers, Commercial enterprises, Healthcare professionals, Other insurance companies
Freight Rail Transportation
majorOperates one of the largest railroad systems in North America through BNSF, transporting agricultural, consumer, and industrial products across the Western and Southern United States.
BNSF Railway
Agricultural producers, Industrial manufacturers, Retailers, Energy companies
Berkshire Hathaway Energy (BHE)
majorA global energy portfolio consisting of regulated electric and natural gas utilities, interstate pipelines, and renewable energy projects.
PacifiCorp, MidAmerican Energy Company, NV Energy, Northern Natural Gas, Kern River Gas Transmission Company, AltaLink, HomeServices of America
Residential retail customers, Commercial and industrial end-users, Wholesale energy buyers, Real estate buyers and sellers
Manufacturing
majorProduces a diverse range of industrial, building, and consumer products, including aerospace components, specialty chemicals, and prefabricated housing.
Precision Castparts (PCC), Lubrizol, IMC International Metalworking, Marmon, Clayton Homes, Shaw Industries, Johns Manville, Benjamin Moore, Duracell, Fruit of the Loom, Forest River
Aerospace OEMs, Construction contractors, Automotive manufacturers, Retail consumers
McLane Company
moderateProvides wholesale distribution services to convenience stores, discount retailers, and restaurants across the United States.
Retail distribution, Restaurant distribution, Beverage distribution
Convenience stores, Quick service restaurants, Wholesale clubs, Military bases
Service and Retailing
moderateA collection of businesses providing professional aviation services, electronic component distribution, and various retail operations.
NetJets, FlightSafety International, TTI, Inc., Berkshire Hathaway Automotive, Dairy Queen, See's Candies, Nebraska Furniture Mart
Corporate flight departments, Electronics manufacturers, Retail consumers, Franchisees
Pilot Travel Centers
moderateOperates a massive network of travel centers and fuel-only retail locations across North America, serving professional drivers and travelers.
Pilot, Flying J
Professional truck drivers, Travelers, Wholesale fuel buyers
Business Overview
Competitive Position
Berkshire Hathaway maintains a dominant competitive position through its massive scale, 'AA+' financial strength ratings, and a permanent capital base that allows for long-term investment horizons.
Geographies
United States, Canada, Europe, Asia-Pacific
Customer Segments
Retail Consumers, Enterprise, Government, SMEs
Upstream Dependencies
Petrochemical feedstocks, Steel and aluminum suppliers, Aircraft engine manufacturers, Automobile manufacturers, Agricultural commodity producers
Downstream Customers
Individual policyholders, Industrial manufacturers, Residential utility customers, Retail shoppers, Logistics and transportation firms
Competitors & Partners
Competitors
Progressive
PGR
Competitor in private passenger automobile insurance
Allstate
ALL
Competitor in private passenger automobile insurance
Union Pacific
UNP
Primary rail competitor in the Western U.S.
Sherwin-Williams
SHW
Competitor in the architectural coatings and paint market
BP
BP
Competitor in the travel center industry
Partners
General Motors
GM
Partner for a nationwide electric vehicle fast charger network
Insurance Australia Group Limited
Major quota-share reinsurance agreement partner
Walmart
WMT
Major wholesale distribution customer for McLane
7-Eleven
Major wholesale distribution customer for McLane
Yum! Brands
YUM
Major restaurant distribution customer for McLane
Boeing
BA
Major aerospace customer for Precision Castparts
Airbus
Major aerospace customer for Precision Castparts
Berkshire Hathaway FAQ
Common questions about Berkshire Hathaway
Berkshire Hathaway is a global holding company that manages a highly decentralized portfolio of subsidiaries across diverse industries. Its core value proposition lies in its exceptional capital strength and a management philosophy that empowers individual business units while centralizing significant capital allocation and investment decisions. The company's primary operations span insurance and reinsurance, freight rail transportation, and regulated energy utilities, supplemented by a vast array of manufacturing, service, and retailing businesses.
Berkshire Hathaway is scheduled to report earnings for Q1 2026 on May 4, 2026.
Berkshire Hathaway generated $372.13B in trailing twelve-month revenue with net income of $67.3B, representing a net margin of 18.1%, with free cash flow of $19.3B. These figures are based on the Q3 2025 filing.
Berkshire Hathaway's key competitors include Progressive, Allstate, Union Pacific, and others. These companies compete in similar markets and product categories.
Berkshire Hathaway has approximately 396,500 employees.