Live quote snapshot, SEC 13F holdings, and XBRL balance sheet context
Valuation Monitor
Berkshire Valuation Monitor
A cleaner view of Berkshire Hathaway's current trading level versus a live, non-GAAP intrinsic value estimate built from reported equity and marked public holdings.
Method
Reported equity plus live revaluation of U.S. 13F equities and Japan trading houses.
Valuation Trend
Snapshots from the stored valuation history (quarterly filing history plus recent daily readings), showing BRK.B against intrinsic value plus the premium or discount trend.
528 snapshots
Price Vs Intrinsic Value
Premium Or Discount
BRK.B market price Intrinsic value per BRK.B Premium / discount
Buffett has written in shareholder letters that he values businesses at 10–15× pretax earnings, with higher-quality businesses at the upper end. At Berkshire's ~21% effective tax rate, 15× pretax is equivalent to roughly 19× after-tax — consistent with long-run valuations of large, durable businesses. Berkshire's mix of capital-intensive segments (BNSF, BHE) and higher-return franchises (insurance) makes 15× a conservative blended estimate; many analysts of comparable conglomerates use 16–18×.
$847.04B
Less: total liabilities
−$522.82B
Intrinsic Value (total)
$1.02T
Operating earnings = pretax income − investment gains + non-cash impairments, from the 2026-03-31 10-Q XBRL filing (annualized to a full-year run-rate). Liabilities include insurance float, deferred taxes, and all debt.
GAAP equity bridge (reference)
Reported Equity
$729.45B
10-Q filed 2026-05-04
Net Revaluation
+$57.26B
Market uplift from tracked public holdings.
Estimated Equity
$786.71B
GAAP anchor — understates operating business value.
U.S. listed equity securities (13F)
Book $263.10B • Market $263.10B
+$0
Japan trading houses (non-GAAP add-on)
Book $0 • Market $36.06B
+$36.06B
Insurance float premium (non-GAAP)
Book $212.06B • Market $233.26B
+$21.21B
Market SnapshotYahoo Finance
BRK-A
733.61K
Day: 730.00K - 737.25K
PE: 14.55 • Mkt Cap: 1.05T
BRK-B
489
Day: 486 - 494
PE: 14.56 • Mkt Cap: 1.06T
As of 2026-06-19T09:02:36Z
Tracked Public EquitiesCurrent market value
U.S. 13F Equities
$263.10B
Japan Trading Houses
$36.06B
FX: 1 USD = 161.312 JPY as of 2026-06-19 09:02 UTC.
Portfolio SummaryGrouped View
$263.10B
Total reported 13F value
Period Of Report
2026-03-31
Filing Date
2026-05-15
Entries
Showing top 10 of 29
Latest 13F Holdings
This remains the main supporting evidence table and keeps the current live-price enrichment.
Live Market Caps
Fetched via Yahoo Finance for TSE (.T) tickers; currency JPY.
Valuation Method
Current value = % ownership x live market cap.
As Of
2026-06-19 09:02 UTC
Cash, Other Assets, and Liabilities
Reference values extracted from SEC XBRL balance sheet tags.
SEC XBRL
Insurance and Other — assets
Carrying value
Cash and cash equivalents
$51.48B
Short-term investments in U.S. Treasury Bills
$339.26B
Investments in fixed maturity securities
$17.67B
Investments in equity securities
$288.03B
Equity method investments
$19.95B
Loans and finance receivables
$30.10B
Other receivables
$47.49B
Inventories
$25.52B
Property, plant and equipment
$39.04B
Equipment held for lease
$18.67B
Goodwill
$56.17B
Other intangible assets
$34.27B
Deferred charges - retroactive reinsurance
$7.85B
Other
$27.41B
Total Insurance and Other assets
$1.00T
Railroad, Utilities and Energy — assets
Carrying value
Cash and cash equivalents
$6.64B
Receivables
$4.27B
Property, plant and equipment
$184.03B
Goodwill
$27.01B
Regulatory assets
$4.47B
Other
$22.92B
Total Railroad, Utilities and Energy assets
$249.33B
Total assets
$1.25T
Liabilities
Amount
Insurance float (policyholder reserves)
$212.06B
Notes payable and other borrowings
$42.84B
Other liabilities (payables, etc.)
$67.81B
Insurance and Other liabilities
$322.71B
Notes payable and other borrowings
$86.05B
Other liabilities
$25.38B
Railroad, Utilities and Energy liabilities
$111.43B
Income taxes (principally deferred)
$88.69B
Total liabilities
$522.82B
Total equity
$729.45B
How insurance float is treated
Float — the policyholder reserves above — is the money Berkshire holds between collecting premiums and paying claims. As long as underwriting roughly breaks even and float is stable or growing, it behaves like low- or no-cost leverage.
In the sum-of-parts intrinsic value, float is not added back as equity. The investments it funds (the equity portfolio, T-bills, and cash) are already counted at full value on the asset side, and the interest & dividend income those investments produce is already capitalized in the operating-earnings multiple. Float's franchise value therefore flows through to intrinsic value via the earnings it generates; the principal nets against the assets it bought, so it is deducted as a liability to avoid double-counting.
Information on this site is for educational purposes only and does not constitute financial or investment advice. All valuation estimates are approximate and subject to change. Always conduct your own research.