Berkshire Hathaway (BRK-B) Stock Analysis
Financial ServicesFire, Marine & Casualty Insurance
Q2 2026 · +10.0% revenue · +8.7% revenue
Beat the trendvs trailing 3-quarter avg
Revenue▲+8.1 ppvs trend
Net income▲+62.7 ppvs trend
Free cash flow▼−29.4 ppvs trend
Outperformed in 2 of 3 metrics
How the cash was deployedQ2 2026
Operating cash flow$21.65B
$10.63B (49.1 %)
Share buybacks$4.44B (20.5 %)
Returned to shareholders this quarter$4.44B▲ +52.3%
Last 8 quarters of revenueLatest quarter highlighted. Q4 reconstructed from the annual filing.
+10.0% +8.7%
93.00BQ3 24
94.92BQ4 24*
89.72BQ1 25
92.52BQ2 25
94.97BQ3 25
94.23BQ4 25*
93.67BQ1 26
101.81BQ2 26
* Q4 is reconstructed from the annual filing (FY − Q1 − Q2 − Q3), since the SEC does not require a Q4 10-Q.
RevenueReversal
$101.81B▲+10.0% ▲+8.7%
89.87B
93.65B
93.00B
94.92B
89.72B
92.52B
94.97B
94.23B
93.67B
101.81B
Net incomeReversal
$25.67B▲+107% ▲+154%
12.70B
30.35B
26.25B
19.69B
4.60B
12.37B
30.80B
19.20B
10.11B
25.67B
Free cash flowSlowing
$11.02B▼−7.0% ▲+102%
6.17B
15.24B
12.34B
−38.09B
6.62B
11.85B
20.05B
−27.92B
5.45B
11.02B
Diluted Not enough history
—— —
Not enough quarters yet to read the trend.Margins
Gross marginNot enough history
—— —
Not enough quarters yet to read the trend.Operating marginNot enough history
—— —
Not enough quarters yet to read the trend.Net marginReversal
25.2 %▲+11.8 pp ▲+14.4 pp
14.13
32.40
28.23
20.75
5.13
13.37
32.43
20.37
10.79
25.21
| Metric | Q2 2025Same quarter, prior year | Q1 2026Previous quarter | Q2 2026Latest quarter | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue | $92.52B | $93.67B | $101.81B | +10.0% | +8.7% |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expenses | $79.38B | $79.93B | $86.07B | +8.4% | +7.7% |
| Operating income | — | — | — | — | — |
| Net income | $12.37B | $10.11B | $25.67B | +107% | +154% |
| Diluted | — | — | — | — | — |
| Operating cash flow | $20.99B | $10.44B | $21.65B | +3.2% | +107% |
| $9.14B | $4.99B | $10.63B | +16.3% | +113% | |
| Free cash flow | $11.85B | $5.45B | $11.02B | −7.0% | +102% |
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 13.4 % | 10.8 % | 25.2 % | +11.8 pp | +14.4 pp |