Berkshire Hathaway (BRK.B) has a market cap near $1.07 trillion as of February 2026. GAAP net income for 2024 was $89.0 billion. Unlike Apple or JPMorgan, Berkshire's reported earnings swing sharply year to year due to unrealized investment gains and losses.
Earnings of Berkshire Hathaway
Annual Earnings of Berkshire Hathaway
| Year | Net Income (USD) | YoY Change |
|---|---|---|
| 2024 | $89.00 B | -7.51% |
| 2023 | $96.22 B | N/M (from -$22.8B) |
| 2022 | -$22.76 B | N/M (from $89.9B) |
| 2021 | $89.94 B | +111.5% |
| 2020 | $42.52 B | -47.8% |
| 2019 | $81.42 B | +1,925.4% |
| 2018 | $4.02 B | -91.1% |
| 2017 | $44.94 B | +86.7% |
| 2016 | $24.07 B | -0.04% |
| 2015 | $24.08 B | -12.5% |
Berkshire Hathaway P/E Ratio
| Year | Year-End P/E Ratio | Notes |
|---|---|---|
| 2024 | 11.0 | Strong investment gains lifted earnings |
| 2023 | 10.2 | Rebound from 2022 loss year |
| 2022 | N/M | Negative GAAP earnings; P/E not meaningful |
| 2021 | 8.3 | Record earnings from equity portfolio gains |
| 2020 | 14.5 | Pandemic recovery; moderate investment gains |
| 2019 | 6.6 | Massive unrealized gains compressed ratio |
| 2018 | 125.3 | Near-zero earnings from market downturn |
| 2017 | 11.1 | Tax reform boosted reported income |
| 2016 | 17.0 | Steady operating results |
| 2015 | 14.4 | Consistent operating earnings base |
