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.
606 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×.
$1.06T
Less: total liabilities
−$512.89B
Intrinsic Value (total)
$1.25T
Operating earnings = pretax income − investment gains + non-cash impairments, from the 2026-06-30 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
$750.18B
10-Q filed 2026-08-10
Net Revaluation
+$62.26B
Market uplift from tracked public holdings.
Estimated Equity
$812.44B
GAAP anchor — understates operating business value.
U.S. listed equity securities (13F)
Book $299.25B • Market $299.25B
+$0
Japan trading houses (non-GAAP add-on)
Book $0 • Market $40.93B
+$40.93B
Insurance float premium (non-GAAP)
Book $213.29B • Market $234.62B
+$21.33B
Market SnapshotYahoo Finance
BRK-A
759.35K
Day: 757.75K - 760.22K
PE: 12.72 • Mkt Cap: 1.08T
BRK-B
506
Day: 504 - 508
PE: 12.72 • Mkt Cap: 1.08T
As of 2026-09-05T15:51:46Z
Tracked Public EquitiesCurrent market value
U.S. 13F Equities
$299.25B
Japan Trading Houses
$40.93B
FX: 1 USD = 156.221 JPY as of 2026-09-05 15:51 UTC.
Portfolio SummaryGrouped View
$299.25B
Total reported 13F value
Period Of Report
2026-06-30
Filing Date
2026-08-14
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
2026-09-05 15:51 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
$35.10B
Short-term investments in U.S. Treasury Bills
$324.90B
Investments in fixed maturity securities
$17.03B
Investments in equity securities
$323.78B
Equity method investments
$19.95B
Loans and finance receivables
$30.72B
Other receivables
$48.63B
Inventories
$26.57B
Property, plant and equipment
$39.41B
Equipment held for lease
$18.91B
Goodwill
$56.19B
Other intangible assets
$33.95B
Deferred charges - retroactive reinsurance
$7.67B
Other
$27.81B
Total Insurance and Other assets
$1.01T
Railroad, Utilities and Energy — assets
Carrying value
Cash and cash equivalents
$5.51B
Receivables
$4.56B
Property, plant and equipment
$185.81B
Goodwill
$26.98B
Regulatory assets
$4.38B
Other
$25.17B
Total Railroad, Utilities and Energy assets
$252.43B
Total assets
$1.26T
Liabilities
Amount
Insurance float (policyholder reserves)
$213.29B
Notes payable and other borrowings
$43.30B
Other liabilities (payables, etc.)
$53.41B
Insurance and Other liabilities
$310.00B
Notes payable and other borrowings
$85.30B
Other liabilities
$27.42B
Railroad, Utilities and Energy liabilities
$112.72B
Income taxes (principally deferred)
$90.18B
Total liabilities
$512.89B
Total equity
$750.18B
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.