Berkshire Hathaway Inc. (BRK.A) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-28.8%

$612,239.97

vs $860,000.00 price

Levered DCF

$274,390.09

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.21×	11×	8.17×	-30.25×	7.57×	13.04×	6.82×	125.1×
P/B	1.51×	1.51×	1.4×	1.45×	1.34×	1.25×	1.31×	1.44×
P/S	2.92×	2.64×	2.16×	2.28×	2.46×	2.26×	2.16×	2.05×
EV / EBITDA	16.2×	14.69×	14.55×	14.87×	15.56×	15.5×	5.14×	32.34×
Gross margin	23.6%	23.3%	19.5%	19.7%	20.0%	19.9%	39.2%	38.3%
Operating margin	15.9%	16.0%	13.2%	13.8%	12.7%	12.2%	39.5%	2.5%
Net margin	18.0%	24.0%	26.4%	-7.5%	32.6%	17.3%	31.7%	1.6%
Current ratio	6.75×	5.39×	4.7×	4.55×	5.04×	4.25×	4.53×	4.06×
Debt / equity	0.19×	0.2×	0.24×	0.27×	0.24×	0.28×	0.26×	0.28×
Interest coverage	11.62×	11.43×	9.62×	9.56×	8.39×	7.34×	25.63×	1.6×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.3%	13.7%	17.1%	-4.8%	17.8%	9.6%	19.2%	1.2%
Return on invested capital	4.1%	4.4%	3.8%	3.3%	3.1%	2.8%	10.4%	0.9%
Return on assets	5.5%	7.7%	9.0%	-2.4%	9.4%	4.9%	10.0%	0.6%
Free cash flow yield	2.3%	1.2%	3.8%	3.2%	3.8%	4.8%	4.1%	4.5%
Earnings yield	6.2%	9.1%	12.2%	-3.3%	13.2%	7.7%	14.7%	0.8%
Enterprise value	$1.2T	$1.1T	$881.8B	$780.4B	$711.6B	$628.8B	$600B	$570.2B
Net debt / EBITDA	1.2×	1.15×	1.58×	1.75×	0.68×	1.83×	0.39×	3.81×
Cash conversion cycle (days)	35	4	45	57	47	3	37	33