Direct Answer
Berkshire Hathaway reports revenue across 7 business segments in its fiscal 2025 Form 10-K. Berkshire Hathaway Insurance Group is the largest, with $104 billion of revenue (28% of the total), followed by Manufacturing Businesses at $78.4 billion (21%).
How Does Berkshire Hathaway Make Money?
No single line supplies a majority of revenue: the largest, Berkshire Hathaway Insurance Group, is 28%, which spreads Berkshire Hathaway's exposure across several demand drivers. Between fiscal 2024 and 2025, Service and Retailing Businesses grew fastest (+7.0%) and Pilot Travel Centers LLC slowest (-10.1%), so the revenue mix tilts toward Service and Retailing Businesses while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Berkshire Hathaway Insurance Group | $104 billion | $105 billion | 28.1% | -0.8% |
| Manufacturing Businesses | $78.4 billion | $77.2 billion | 21.1% | 1.5% |
| Mc Lane Company | $50.2 billion | $51.1 billion | 13.5% | -1.7% |
| Service and Retailing Businesses | $42.6 billion | $39.9 billion | 11.5% | 7.0% |
| Pilot Travel Centers LLC | $42.2 billion | $46.9 billion | 11.4% | -10.1% |
| Berkshire Hathaway Energy Company | $26.3 billion | $26.3 billion | 7.1% | -0.3% |
| Burlington Northern Santa Fe Corporation | $23.5 billion | $23.5 billion | 6.3% | 0.2% |
What Does Berkshire Hathaway Sell?
Berkshire Hathaway also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Insurance and Other | $322 billion | $322 billion | 86.6% | 0.0% |
| Railroad Utilities and Energy | $49.7 billion | $49.8 billion | 13.4% | -0.1% |
What the Segment Figures Do Not Show
The rows above add up to 99% of Berkshire Hathaway's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Berkshire Hathaway reported in the segment note and revenue disclosures of its Form 10-K filed March 2, 2026 (accession 0001193125-26-083899), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Berkshire Hathaway's business segments?
In its fiscal 2025 Form 10-K, Berkshire Hathaway reports revenue for Berkshire Hathaway Insurance Group, Manufacturing Businesses, Mc Lane Company, Service and Retailing Businesses, Pilot Travel Centers LLC, Berkshire Hathaway Energy Company and Burlington Northern Santa Fe Corporation.
Which part of Berkshire Hathaway brings in the most revenue?
Berkshire Hathaway Insurance Group, with $104 billion of revenue in fiscal 2025, or 28% of the total.
Where does Berkshire Hathaway report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed March 2, 2026, alongside management's discussion of each segment's results.