--- title: "Berkshire Hathaway Company Profile" description: "Educational business and investor-research dossier for Berkshire Hathaway, including business-model analysis, economics, metrics, risks, monitoring questions." canonical: https://www.getswoopr.com/stocks/companies/berkshire-hathaway/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Berkshire Hathaway Company Profile ## Direct answer Berkshire Hathaway (BRK.B) is a Financials company and a constituent of the S&P 500 Equal Weight Index. This guide covers Berkshire Hathaway's business model, financial metrics, competitive position, risk factors, and index membership as an educational business primer. It does not constitute personalized investment advice or a buy, sell, or price-target recommendation. ## What Do the Latest SEC Filings Show for Berkshire Hathaway? These are figures Berkshire Hathaway reported in its own SEC filings, read from the SEC's XBRL data, so the page has a fixed starting point before any of the research questions below. They describe reported history and are not a forecast. | Item | As reported | | --- | --- | | Ticker symbol | BRK-B, BRK-A | | SEC industry classification | 6331, Fire, Marine & Casualty Insurance | | Fiscal year ends | December 31 | | Latest fiscal year reported | FY2025, ended December 31, 2025 | | Revenue | $371 billion | | Net income (loss) | $67.0 billion | | Operating cash flow | $46.0 billion | | Cash and cash equivalents | $52.6 billion | Source: [SEC EDGAR: BERKSHIRE HATHAWAY INC Form 10-K filed March 2, 2026](https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm). ## Company Snapshot | Field | Value | | --- | --- | | Company | Berkshire Hathaway | | Security line(s) | BRK.B | | SEC CIK | 1067983 | | GICS sector | Financials | | GICS sub-industry | Multi-Sector Holdings | | Founded / lineage | 1839 | | S&P 500 addition date | 2010-02-16 | | S&P 500 Equal Weight status | Current company constituent as of 2026-09-15 | | Equal Weight target concept | Equal company weight at quarterly rebalance; nominally 0.20% when there are 500 companies | | Canonical Swoopr company URL | `/stocks/companies/berkshire-hathaway/` | ## What the Company Does The most defensible high-level description of Berkshire Hathaway begins with its GICS placement in Multi-Sector Holdings. In practical terms, Berkshire Hathaway participates in an industry where a company generally operates a portfolio of businesses whose economics must be evaluated at the segment level rather than reduced to a single product or revenue stream. That is an analytical starting point, not a substitute for Berkshire Hathaway's own segment disclosure. Use Berkshire Hathaway's latest annual report to name its actual reported segments, economically important products and services, brands, customer groups, and geographies. Where Berkshire Hathaway reports businesses that cross GICS boundaries, keep those distinctions rather than forcing every activity into the Multi-Sector Holdings label. When researching Berkshire Hathaway, the key question is: **what operating activity causes a customer to pay the company?** Answer it as a revenue tree rather than a marketing description. Start with the company's major reported business lines, connect each line to its paying customer, identify the unit that is sold or monetized, then identify whether the economics are recurring, transactional, cyclical, usage-based, regulated, project-based, volume-driven, or spread-driven for Berkshire Hathaway. This turns a company description into a usable investment model. ## How the Company Makes Money For Berkshire Hathaway, the primary business-model lens is a diversified operating-company model. The variables worth checking first are segment organic growth, price/volume/mix, portfolio changes, capital allocation, productivity, and end-market demand. These are industry mechanisms, not Berkshire Hathaway's reported KPIs, so match them to the metrics Berkshire Hathaway actually discloses. For each material revenue line, look for which mechanism drives it, how pricing works, whether customer relationships repeat, and whether any revenue stream has noticeably different margin or capital needs at Berkshire Hathaway. Revenue quality matters as much as revenue growth. When reviewing Berkshire Hathaway, separate growth from more customers or units from growth created by price, mix, acquisitions, foreign exchange, accounting presentation, or temporary industry conditions. Then ask whether added revenue requires proportional new capital, inventory, labor, marketing, or fixed assets for Berkshire Hathaway. The answer shows whether growth can compound with attractive cash economics or whether growth itself consumes substantial capital at the company. ## Revenue Engine The checklist below lists operating variables common in this industry. They are industry-level ideas, not reported figures, so confirm which ones Berkshire Hathaway discloses as KPIs in its latest annual report (Form 10-K), and compare them with Berkshire Hathaway's earnings materials. - **Segment Organic Growth:** test direction, cause, revenue sensitivity, margin effect, and whether the change is durable or cyclical. - **Price/Volume/Mix:** test direction, cause, revenue sensitivity, margin effect, and whether the change is durable or cyclical. - **Portfolio Changes:** test direction, cause, revenue sensitivity, margin effect, and whether the change is durable or cyclical. - **Capital Allocation:** test direction, cause, revenue sensitivity, margin effect, and whether the change is durable or cyclical. - **Productivity:** test direction, cause, revenue sensitivity, margin effect, and whether the change is durable or cyclical. - **End-Market Demand:** test direction, cause, revenue sensitivity, margin effect, and whether the change is durable or cyclical. ## Business Segments Berkshire Hathaway's exact segment names and reported segment financials are in its latest Form 10-K, so read the segment note there. For each reportable segment, look for what it sells, who buys it, how it is priced, its growth and margin profile, important geographies, strategic role, and specific risks for Berkshire Hathaway. If management changes segment reporting, prior-period definitions should be kept and the restatement boundary marked, rather than splicing unlike periods together for Berkshire Hathaway. Until you have checked the segment figures, avoid treating the consolidated Multi-Sector Holdings classification as if it described every activity. Berkshire Hathaway may contain businesses with very different cyclicality and capital intensity. The most useful segment analysis identifies which segment contributes disproportionate profit or cash flow, which segment consumes the most capital, and which segment carries the highest expectations for future growth at Berkshire Hathaway. ## Products, Services and Business Lines This page covers only the economically significant Berkshire Hathaway products, services, platforms, brands and franchises. Each item should be tied to a reportable business line and a monetization mechanism for Berkshire Hathaway. Avoid an exhaustive catalog copied from a corporate website. The useful questions are whether an offering is a gateway product, a recurring revenue source, a high-margin add-on, a regulated necessity, a commodity-like product, or a strategic product that influences customer retention elsewhere in the portfolio for Berkshire Hathaway. ## Customers and Buying Behavior The relevant customer universe for this industry includes a mix of enterprise, institutional, government, channel, and consumer customers depending on the operating portfolio. For Berkshire Hathaway, the useful questions are which of those customer groups actually matter, whether a small number of customers represent concentration risk, how long purchasing decisions take, who controls the budget, and what makes a customer renew, reorder, switch, or delay purchases. Customer economics often explain why two companies in the same sub-industry can have very different margins and volatility for Berkshire Hathaway. A durable customer relationship can show up through contracts, subscriptions, installed-base dependence, integration costs, distribution access, regulatory qualification, brand preference, or operational reliability for Berkshire Hathaway. Those mechanisms must be evidenced for Berkshire Hathaway; simply saying the company has “loyal customers” is not sufficient. The monitoring framework should watch for weakening retention, lower wallet share, rising incentives, longer sales cycles, or adverse changes in customer concentration for Berkshire Hathaway. ## Geographic Exposure Do not assume Berkshire Hathaway's geographic revenue mirrors where it is headquartered. Berkshire Hathaway's latest annual report (Form 10-K) shows, when disclosed, how revenue, assets, manufacturing, sourcing, regulatory exposure, and major customers are spread across regions. Geography matters because exchange rates, tariffs, export controls, taxes, local competition, political risk, and supply-chain concentration can change the economics even when overall demand for Berkshire Hathaway is stable. ## Company Economics For a Multi-Sector Holdings business, the core cost structure often includes labor, materials, technology, selling expense, corporate overhead, and capital investment. When reviewing Berkshire Hathaway, separate fixed from variable costs and distinguish accounting expenses from cash investment. Then examine operating leverage: if revenue rises by 10%, which costs rise nearly in line, which lag, and which may step up after capacity thresholds for Berkshire Hathaway? The same exercise should be repeated in reverse for a downturn because downside operating leverage is often more important than upside leverage for Berkshire Hathaway. Capital intensity is equally important. Berkshire Hathaway can report attractive operating margins while requiring large amounts of working capital, plant, equipment, acquired intangibles, capitalized software, regulatory capital, or other reinvestment. Berkshire Hathaway's page should therefore reconcile earnings with cash generation and explain which investments are maintenance requirements versus discretionary growth spending. ## Financial Statement Guide ### Income statement Start with the revenue lines and expense categories that reflect segment organic growth, price/volume/mix, and portfolio changes. Separate organic operating change from acquisitions, divestitures, foreign exchange, accounting reclassifications, and unusual items for Berkshire Hathaway. Margin analysis should show whether changes come from price, mix, volume, productivity, input costs, or overhead absorption for Berkshire Hathaway. ### Balance sheet Identify the assets and liabilities that make the a diversified operating-company model work. For Berkshire Hathaway, focus on working capital, debt, goodwill and acquired intangibles, inventory or receivables where material, pension or insurance obligations where applicable, and any industry-specific capital or reserve requirements. ### Cash flow statement Reconcile reported earnings to operating cash flow and then to free cash flow after economically necessary capital expenditures for Berkshire Hathaway. Watch working-capital swings, restructuring cash costs, acquisition spending, stock-based compensation, and other items that can make a single period look unusually strong or weak for Berkshire Hathaway. ### Capital expenditure and reinvestment Determine how much spending merely maintains the existing earnings base and how much expands capacity or capabilities for Berkshire Hathaway. The distinction is especially important when Berkshire Hathaway's growth narrative depends on new facilities, networks, software, R&D, acquisitions, or customer acquisition. ## Metrics That Matter Most These are the measures analysts commonly use to judge a business like Berkshire Hathaway. Look each one up in Berkshire Hathaway's latest annual report (Form 10-K) and quarterly filings (Form 10-Q); companies define some of them differently, so compare like with like. | Metric | What it measures and why it matters | Where to look | | --- | --- | --- | | Segment Revenue Growth | The percentage change in revenue reported for an individual business segment compared with the prior period. Shows which parts of the business are driving or lagging overall growth. Reorganizations can change segment definitions over time. | Segment note, MD&A and earnings releases. Check for recast prior periods after reporting changes. | | Segment Margin | Profit of a reporting segment as a share of that segment's revenue, using the profit measure the company reports for the segment. Reveals which businesses drive profits and how mix shifts affect the total. Cost allocations between segments can differ and change over time. | Segment note in the annual and quarterly reports, plus MD&A. The profit measure is company defined, so check it. | | Orders/Backlog Where Relevant | New customer orders received in a period, and the total value of orders not yet recognized as revenue. Together they give a view of near term demand and revenue visibility. Orders can be cancelled or delayed, and not every company reports them. | Earnings releases and MD&A, usually as company defined measures. Check the definition and whether cancellations are removed. | | Cash Conversion | How much of earnings turn into cash, commonly free cash flow divided by net income or operating cash flow divided by earnings. High conversion suggests earnings quality, while low conversion may point to working capital build or heavy investment. One period can mislead. | Calculated from the income statement and cash flow statement. Some companies report their own version, so check the definition. | | Capex | Capital expenditures: cash spent on property, equipment, facilities and other long lived assets used to maintain or grow the business. Shows how much the company reinvests. Higher spending can support growth but reduces free cash flow, and maintenance and growth spending differ. | Cash flow statement investing section, with discussion of plans in MD&A. Split between maintenance and growth is often company defined. | | Roic | Return on invested capital, commonly after tax operating profit divided by invested capital such as debt plus equity less excess cash. Formulas vary by company. It shows how well a company earns on the money invested in it. Returns above the cost of capital tend to indicate value creation, but definitions differ. | Calculated from the income statement and balance sheet. Some companies publish it in presentations, so check their definition. | | Working Capital | Commonly defined as current assets minus current liabilities. Some companies use an operating version that excludes cash and debt. It shows whether a company can fund near term obligations and how much cash is tied up in operations. Swings can reflect timing rather than lasting change. | Balance sheet, with changes shown in the cash flow statement and explained in MD&A liquidity discussion. | | Leverage | The extent of debt financing relative to earnings, cash flow or equity. Commonly debt divided by EBITDA or debt divided by equity. Higher leverage raises fixed obligations and sensitivity to downturns or rate changes. Compare with peers, since normal levels differ by industry. | Balance sheet debt, and ratios in MD&A or earnings releases. Ratio definitions and adjustments are often company specific, so check them. | | Portfolio Mix | The share of a company's assets, revenue or properties made up by each category it holds, such as types, regions or product lines. Shows concentration and exposure to specific markets. Shifts in mix can change risk, growth and margins. | Business section, segment or property notes and supplemental reports. Categories are company defined. | | Free Cash Flow | Cash left after operating needs and capital spending. Commonly defined as operating cash flow minus capital expenditures. Shows cash available for debt repayment, dividends, buybacks or reinvestment. Definitions vary, and one-off working capital swings can distort a single period. | Derived from the cash flow statement. Often shown in earnings releases as a non-GAAP figure, so check the company's own definition. | ## Competitive Position Potential sources of competitive durability in this industry include portfolio quality, scale, distribution, operating systems, brand, and capital allocation capability. For Berkshire Hathaway, a claimed advantage is only meaningful when tied to evidence: better retention, structurally lower costs, stronger unit economics, sustained share, premium pricing, shorter payback, higher utilization, superior reliability, or another measurable outcome. A moat claim without a mechanism and an observable consequence is not persuasive for Berkshire Hathaway. A useful starting peer set inside the current index is [Aflac](https://www.getswoopr.com/stocks/companies/aflac/), [Allstate](https://www.getswoopr.com/stocks/companies/allstate/), [American Express](https://www.getswoopr.com/stocks/companies/american-express/), [American International Group](https://www.getswoopr.com/stocks/companies/american-international-group/), [Ameriprise Financial](https://www.getswoopr.com/stocks/companies/ameriprise-financial/), [Aon plc](https://www.getswoopr.com/stocks/companies/aon/). This is an **index peer set**, not a claim that every named company is a direct competitor in every product line for Berkshire Hathaway. A complete competitor analysis separates direct product competitors, substitute technologies, vertically integrated customers and suppliers, and companies that compete primarily for capital or distribution for Berkshire Hathaway. ### Index peer comparison framework | Peer | Why compare it | What to verify | | --- | --- | --- | | [Aflac](https://www.getswoopr.com/stocks/companies/aflac/) | Current S&P 500 peer classified in Life & Health Insurance | Actual product overlap, customer overlap, margins, capital intensity, and geographic mix | | [Allstate](https://www.getswoopr.com/stocks/companies/allstate/) | Current S&P 500 peer classified in Property & Casualty Insurance | Actual product overlap, customer overlap, margins, capital intensity, and geographic mix | | [American Express](https://www.getswoopr.com/stocks/companies/american-express/) | Current S&P 500 peer classified in Consumer Finance | Actual product overlap, customer overlap, margins, capital intensity, and geographic mix | | [American International Group](https://www.getswoopr.com/stocks/companies/american-international-group/) | Current S&P 500 peer classified in Multi-line Insurance | Actual product overlap, customer overlap, margins, capital intensity, and geographic mix | | [Ameriprise Financial](https://www.getswoopr.com/stocks/companies/ameriprise-financial/) | Current S&P 500 peer classified in Asset Management & Custody Banks | Actual product overlap, customer overlap, margins, capital intensity, and geographic mix | | [Aon plc](https://www.getswoopr.com/stocks/companies/aon/) | Current S&P 500 peer classified in Insurance Brokers | Actual product overlap, customer overlap, margins, capital intensity, and geographic mix | ## Industry Position Berkshire Hathaway should be analyzed inside the structure of the Multi-Sector Holdings industry rather than in isolation. Map concentration, barriers to entry, buyer power, supplier power, substitution risk, capital requirements, regulation, technology change, and cyclicality for Berkshire Hathaway. Then identify where Berkshire Hathaway sits on the spectrum from price taker to differentiated supplier. This industry map is especially useful when Berkshire Hathaway’s own results look strong: it helps determine whether the improvement reflects company-specific execution or a favorable cycle lifting most participants. ## Supply Chain and Dependencies An initial supply-chain map for this industry connects suppliers, employees, distribution partners, customers, and capital markets. The production Berkshire Hathaway page should identify material single-source dependencies, constrained inputs, outsourced manufacturing or service dependencies, logistics bottlenecks, regulated interfaces, and customer concentration. The strongest supply-chain analysis identifies not only who supplies whom but also where bargaining power sits and which participant absorbs volatility when supply or demand changes for Berkshire Hathaway. ## Economic Sensitivity The macro variables most worth testing for this business model are GDP, industrial production, interest rates, consumer demand, commodity prices, and government spending. These are hypotheses, not a claim that every variable has equal influence on Berkshire Hathaway. Link each selected indicator to a specific transmission mechanism - for example, higher rates changing financing costs, weaker employment changing demand or credit, or industrial production changing order volumes for Berkshire Hathaway. Remove macro indicators that do not have a defensible causal path to Berkshire Hathaway's economics. ## Company History Registry data records Berkshire Hathaway's founding or corporate lineage as **1839** and its S&P 500 addition date as **2010-02-16**. Those two dates are only anchors. A publishable history should be built from issuer and SEC sources and focus on events that changed the economic identity of Berkshire Hathaway: founding, major product or market entries, mergers, divestitures, restructurings, leadership transitions, regulatory events, crises, and strategic pivots. Avoid trivia that does not explain today’s business. ### Verified timeline anchors - **1839:** Founding or corporate-lineage date recorded in the constituent metadata source. Verify nuanced predecessor history against issuer materials. - **2010-02-16:** Berkshire Hathaway security line `BRK.B` entered the S&P 500 according to the constituent registry used for this snapshot. - **2026-09-15:** Berkshire Hathaway is treated as a current constituent company of the S&P 500 Equal Weight Index snapshot used by Swoopr. ## Capital Allocation Evaluate Berkshire Hathaway's capital allocation as a hierarchy: first the spending required to maintain the existing business; then high-return organic reinvestment; then strategic acquisitions or divestitures; then balance-sheet decisions; and finally dividends or repurchases. For this industry, Berkshire Hathaway investors should pay particular attention to whether management is reinvesting during peaks in the cycle, paying too much for acquired growth, underfunding maintenance, or returning capital while leverage or other obligations remain elevated. The useful question is not whether Berkshire Hathaway “returns cash to shareholders.” It is whether each dollar has been directed to its highest credible risk-adjusted use. Measure outcomes over multi-year periods using per-share results, returns on invested capital, cash conversion, balance-sheet resilience, and the performance of acquired or newly built assets for Berkshire Hathaway. Repurchases can destroy value if executed at poor prices or merely offset heavy dilution for Berkshire Hathaway. ## Growth Drivers Potential growth for Berkshire Hathaway should be decomposed into observable mechanisms rather than summarized as a single forecast. - **Segment Organic Growth:** verify management evidence, identify the KPI, separate organic improvement from acquisition/price/mix, and define a disconfirming signal. - **Price/Volume/Mix:** verify management evidence, identify the KPI, separate organic improvement from acquisition/price/mix, and define a disconfirming signal. - **Portfolio Changes:** verify management evidence, identify the KPI, separate organic improvement from acquisition/price/mix, and define a disconfirming signal. - **Capital Allocation:** verify management evidence, identify the KPI, separate organic improvement from acquisition/price/mix, and define a disconfirming signal. - **Productivity:** verify management evidence, identify the KPI, separate organic improvement from acquisition/price/mix, and define a disconfirming signal. ## Risk Factors Use Berkshire Hathaway's current risk disclosures to decide which of the following industry risks actually deserve prominence. Each retained risk needs a causal path and a warning signal. - **Portfolio Complexity:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. - **Cyclical Exposure:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. - **Capital Misallocation:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. - **Integration Risk:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. - **Competition:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. - **Input Costs:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. - **Execution:** map the exposure to revenue, margin, cash flow, balance sheet, or strategic position; do not copy boilerplate risk language. ## Bull, Base and Bear Operating Framework **Bull operating case.** A favorable fundamental path for Berkshire Hathaway would combine healthy segment organic growth and price/volume/mix, stable or improving competitive position, disciplined reinvestment, and cost behavior that allows incremental revenue to convert efficiently into cash. This is not a share-price forecast. The purpose is to state what would have to go unusually well in the Berkshire Hathaway business itself. **Base operating case.** A normal-execution path would show mixed but manageable movement in segment organic growth, price/volume/mix, and portfolio changes, no material erosion in the company’s key competitive mechanisms, and capital allocation consistent with the economics of the business. Results may still be cyclical; “base” does not mean smooth. **Bear operating case.** A deteriorating path would combine one or more of portfolio complexity, cyclical exposure, capital misallocation, and integration risk with weaker operating indicators, pressure on margins or cash conversion, and reduced strategic flexibility. The bear framework should be updated when new filings reveal a different risk concentration for Berkshire Hathaway. ## What Could Prove an Investment Thesis Wrong? - **Persistent deterioration in segment revenue growth.** Define a numeric or filing-based threshold before relying on the thesis so the test is not moved after results disappoint. - **Weakening segment organic growth despite a healthy end market.** Define a numeric or filing-based threshold before relying on the thesis so the test is not moved after results disappoint. - **Multi-period margin compression without a credible reinvestment explanation.** Define a numeric or filing-based threshold before relying on the thesis so the test is not moved after results disappoint for Berkshire Hathaway. - **Capital allocation that lowers per-share economics or raises balance-sheet risk.** Define a numeric or filing-based threshold before relying on the thesis so the test is not moved after results disappoint for Berkshire Hathaway. - **Evidence that customer switching costs, brand, network, cost position, or another claimed advantage is weaker than assumed.** Define a numeric or filing-based threshold before relying on the thesis so the test is not moved after results disappoint for Berkshire Hathaway. - **A structural industry change that makes historical comparisons misleading.** Define a numeric or filing-based threshold before relying on the thesis so the test is not moved after results disappoint for Berkshire Hathaway. ## What Investors Commonly Misunderstand About This Company - **GICS classification is not the whole company.** Berkshire Hathaway is classified as Multi-Sector Holdings, but actual segments may span adjacent markets. Use segment disclosures. - **Revenue growth is not automatically economic improvement.** Price, mix, acquisitions, FX, and accounting changes can produce growth with very different cash consequences for Berkshire Hathaway. - **The most visible product may not be the profit engine.** Verify which Berkshire Hathaway business lines produce operating profit and cash rather than assuming brand visibility equals economic importance. - **A strong cycle can masquerade as a stronger moat.** Compare performance with peers and end-market conditions before attributing all improvement to execution for Berkshire Hathaway. - **Free cash flow needs context.** Working-capital timing, deferred investment, restructuring, and stock compensation can make one period unusually strong or weak for Berkshire Hathaway. ## What to Monitor A practical Berkshire Hathaway monitoring list should remain short enough to update every quarter. For each item, store the definition, historical series, source, and why a change would alter the Berkshire Hathaway business thesis. - **Segment Revenue Growth:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Segment Margin:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Orders/Backlog Where Relevant:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Cash Conversion:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Capex:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Roic:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Working Capital:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Segment Organic Growth:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Price/Volume/Mix:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. - **Portfolio Changes:** record trend, management explanation, link to revenue/margin/cash flow, and a threshold that would trigger deeper review. ## Questions Investors Should Ask - What are Berkshire Hathaway's actual reportable segments, and which segment contributes the most operating profit and cash? - Which of segment organic growth, price/volume/mix, and portfolio changes explains most of Berkshire Hathaway's revenue change? - Is Berkshire Hathaway's pricing power strengthening, stable, or weakening, and what evidence proves it? - How much of recent growth is organic versus acquisition, FX, price, mix, or accounting change for Berkshire Hathaway? - What portion of reinvestment is maintenance versus growth? - Which customer group has the strongest bargaining power and why? - Are customer concentration or supplier concentration becoming more material? - Which metric would deteriorate first if the competitive position weakened? - Does operating leverage improve cash economics in growth periods without creating excessive downside in contractions for Berkshire Hathaway? - What is the most important balance-sheet constraint on strategy? - How has management allocated incremental cash over the last full cycle for Berkshire Hathaway? - Have acquisitions improved per-share economics after considering price paid and dilution for Berkshire Hathaway? - Which regulatory change would most directly alter the business model? - What macro variable has the clearest causal link to demand or margins for Berkshire Hathaway? - What evidence would make the current business-model classification obsolete? ## S&P 500 Equal Weight Index Context As of the 2026-09-15 snapshot, Berkshire Hathaway is one of 500 constituent companies represented by 503 security lines in the parent S&P 500 universe used by Swoopr. The S&P 500 Equal Weight Index uses the same constituent companies but resets companies to equal weight at quarterly rebalances for Berkshire Hathaway. With 500 companies, the nominal company target is about 0.20% immediately after a rebalance, before market movement causes weights to drift for Berkshire Hathaway. Berkshire Hathaway therefore has materially different index influence in the equal-weight version than it may have in the capitalization-weighted S&P 500. ## Key Takeaways - Berkshire Hathaway is classified in Financials / Multi-Sector Holdings; use that classification as a starting point, not a replacement for segment research. - The most useful operating variables to verify are segment organic growth, price/volume/mix, portfolio changes, and capital allocation. - The cost structure should be analyzed around labor, materials, technology, and selling expense. - The most relevant monitoring metrics begin with segment revenue growth, segment margin, orders/backlog where relevant, cash conversion, and capex. - Industry risks include portfolio complexity, cyclical exposure, capital misallocation, and integration risk, but only issuer-specific evidence should determine final risk ranking. - Cash generation must be evaluated after maintenance reinvestment, working-capital needs, dilution, and acquisition spending for Berkshire Hathaway. - Berkshire Hathaway receives the same nominal company weight as every other constituent at an S&P 500 Equal Weight quarterly reset, subject to multi-class allocation rules. ## Frequently Asked Questions What does Berkshire Hathaway do? Berkshire Hathaway is classified by GICS in Multi-Sector Holdings. That means the company participates in an industry where businesses generally operates a portfolio of businesses whose economics must be evaluated at the segment level rather than reduced to a single product or revenue stream. For Berkshire Hathaway’s exact segments, products, services and customer groups, read Item 1 (Business) of its latest annual report (Form 10-K) on SEC EDGAR. How does Berkshire Hathaway make money? The primary analytical lens is a diversified operating-company model. Investors should map Berkshire Hathaway's actual disclosed revenue lines to segment organic growth, price/volume/mix, portfolio changes, and capital allocation and distinguish recurring, transactional, cyclical, regulated, or project-based economics as applicable. What sector is Berkshire Hathaway in? Berkshire Hathaway is classified in the Financials sector and Multi-Sector Holdings sub-industry in the constituent snapshot used by Swoopr. What metrics matter for Berkshire Hathaway? Metrics commonly watched in this industry include segment revenue growth, segment margin, orders/backlog where relevant, cash conversion, capex, and ROIC. Keep only metrics Berkshire Hathaway reports consistently or that can be reliably calculated from its filings. What are the main risks for Berkshire Hathaway? Risks commonly associated with this industry include portfolio complexity, cyclical exposure, capital misallocation, integration risk, and competition. The latest 10-K and 10-Q show which of these risks are most material to Berkshire Hathaway now. Who are Berkshire Hathaway's competitors? Current index peers in the same or adjacent classification include Aflac, Allstate, American Express, American International Group, and Ameriprise Financial. This is a research peer set, not a claim of direct competition across every product for Berkshire Hathaway. What economic conditions affect Berkshire Hathaway? The strongest macro hypotheses to test are GDP, industrial production, interest rates, consumer demand, and commodity prices. Each should be retained only when there is a clear transmission mechanism to demand, pricing, costs, financing, or capital allocation for Berkshire Hathaway. Is Berkshire Hathaway in the S&P 500 Equal Weight Index? Yes. Berkshire Hathaway is treated as a current company constituent in the 2026-09-15 snapshot because the Equal Weight Index uses the same constituent companies as the S&P 500. What is Berkshire Hathaway's target weight in the Equal Weight Index? At a quarterly reset, each constituent company is assigned an equal company weight for Berkshire Hathaway. With 500 companies, the nominal target is about 0.20% per company before weights drift with market movements for Berkshire Hathaway. Does Berkshire Hathaway have multiple share classes in the index? No multi-class treatment is recorded for this issuer in the current snapshot; Swoopr's registry records security line BRK.B. How should an investor use this page? Use the Berkshire Hathaway dossier as an educational research map: identify the business model, verify the company-specific disclosures in primary sources, track a small set of causal operating metrics, and define thesis-breakers before relying on a conclusion. Is this investment advice? No. This dossier is educational research content. It does not provide individualized investment advice, a buy/sell recommendation, or a price target. ## References 1. [U.S. Securities and Exchange Commission: Berkshire Hathaway filings](https://www.sec.gov/edgar/browse/?CIK=1067983&owner=exclude) Use the latest 10-K, 10-Q, 8-K, proxy statement, and applicable registration filings for company-specific operating facts. 1. [S&P Dow Jones Indices: S&P 500 Equal Weight Index](https://www.spglobal.com/spdji/en/indices/equity/sp-500-equal-weight-index/) Use for index identity and official index documentation. 1. [S&P Dow Jones Indices: U.S. Indices Methodology](https://www.spglobal.com/spdji/en/documents/methodologies/methodology-sp-us-indices.pdf) Use for equal-weight calculation, rebalancing, and multi-class treatment. 1. **Current constituent metadata snapshot used by Swoopr.** Swoopr's constituent registry records ticker, GICS classification, CIK, founding/lineage field, and S&P 500 addition date as of 2026-09-15. ## Editorial Verification Gate Before this Berkshire Hathaway dossier is marked GREEN, an editor or research agent must reconcile every issuer-specific narrative statement against the latest primary sources, populate actual segments and significant products, add current as-of-dated financial and operating metrics where useful, verify management and geography, expand the company timeline with sourced events, and replace any industry hypothesis that does not apply to the issuer. This gate is intentionally explicit: completeness of page structure must never be mistaken for verification of current financial facts. ## More in This Section - [Berkshire Hathaway History & Investor Timeline](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/history-timeline/) - [Berkshire Hathaway in the S&P 500 Equal Weight Index](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/equal-weight-membership/) - [Berkshire Hathaway Industry Context](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/industry-context/) - [Berkshire Hathaway Monitoring Guide](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/monitoring-guide/) - [Berkshire Hathaway: Business Model](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/business-model/) - [Berkshire Hathaway: Competitors](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/competitors/) - [Berkshire Hathaway: History & Research Timeline](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/history/) - [Berkshire Hathaway: Metrics Guide](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/metrics/) - [Berkshire Hathaway: Risk Monitoring](https://www.getswoopr.com/stocks/companies/berkshire-hathaway/risks/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).