Highlights

  • Berkshire Hathaway shows 36.32% EPS growth, 13.64 P/E and -1.64 PEG.
  • Second quarter operating earnings were $12,983 million, against $11,160 million a year earlier.
  • Berkshire acquired approximately $4.5 billion of treasury shares in the second quarter.
  • Insurance float was approximately $177.5 billion at June 30, 2026.

Berkshire Hathaway (NYSE:BRK-A) shares were trading at USD 815,420.00 on October 28, 2026, up 0.66%, alongside one-year basic EPS growth of 36.32%, a trailing twelve-month P/E of 13.64 and an expected-basis PEG of -1.64, the three figures behind its place among undervalued growth stocks. In its latest disclosures, the diversified holding company reported on August 8 that second quarter 2026 net earnings attributable to Berkshire shareholders were $25,667 million, with operating earnings of $12,983 million, in an earnings release furnished on Form 8-K dated August 11.

Berkshire Hathaway Inc. is incorporated in Delaware and has its principal executive offices at 3555 Farnam Street in Omaha, Nebraska. It and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing. Its Class A and Class B common stock are listed on the New York Stock Exchange.

Growth: Second Quarter Earnings, Operating Earnings and Segment Results

Net earnings attributable to Berkshire shareholders were $25,667 million in the second quarter against $12,370 million a year earlier, and $35,773 million for the first six months against $16,973 million. Net earnings per average equivalent Class A share were $17,868 against $8,601 in the quarter, and $24,889 against $11,801 for six months. Per average equivalent Class B share, they were $11.91 against $5.73 and $16.59 against $7.87.

Operating earnings, which the company defines as net earnings exclusive of investment gains or losses, impairments of goodwill and intangible assets and other-than-temporary impairments of equity method investments, were $12,983 million against $11,160 million in the quarter and $24,329 million against $20,801 million for six months.

By business in the second quarter, manufacturing, service and retailing earned $4,470 million against $3,601 million, BNSF earned $1,558 million against $1,466 million, and Berkshire Hathaway Energy earned $891 million against $702 million. Other earnings were $1,274 million against $32 million, including foreign currency exchange gains on non-U.S. Dollar denominated debt of $326 million, against losses of $877 million in the second quarter of 2025.

Valuation: P/E of 13.64, PEG of -1.64 and Earnings Composition

The P/E ratio of 13.64 is measured on trailing twelve-month earnings, and the PEG ratio of -1.64 on expected growth. Investment gains were $12,684 million in the second quarter against $4,970 million, and $11,444 million for six months against investment losses of $68 million. They included gains of $10.9 billion in the quarter from changes in unrealized gains on equity securities and after-tax realized gains on sales of investments of $1.8 billion in the quarter and $7.5 billion in the six months.

The company stated that generally accepted accounting principles require it to include changes in unrealized gains or losses on equity securities in investment gains or losses, and that such amounts for any particular period are not indicative of quarterly business performance.

Capital Returns, Float and Share Count

Berkshire acquired approximately $4.5 billion of treasury shares during the second quarter of 2026, bringing the six-month total to about $4.8 billion. There were 1,431,693 Class A equivalent shares outstanding on June 30, 2026.

Insurance float, which the company defines as the net liabilities it assumes under insurance contracts, was approximately $177.5 billion at June 30, 2026, an increase of approximately $1.1 billion since yearend 2025. The release does not provide a balance sheet.

Disclosed Risks and Outlook

Insurance-underwriting earnings were $1,731 million in the second quarter against $1,992 million, and insurance-investment income was $3,059 million against $3,367 million. For six months, insurance-investment income was $5,738 million against $6,260 million, while insurance-underwriting earnings were $3,448 million against $3,328 million.

The company said the limited information in its release is not adequate for making an informed investment judgment and urged investors and reporters to read its 10-Q. Second quarter and six-month 2025 results included a $3,760 million other-than-temporary impairment of its investment in Kraft Heinz.

The release states that its forward-looking statements are not guaranties of future performance and that actual results may differ materially. It contains no earnings guidance, and no outlook for specific periods.