Berkshire Hathaway in the Stock Market: Complete Guide for Investors in 2025

Berkshire Hathaway stands out as one of the most powerful and respected conglomerates in the world, embodying financial excellence and resilience over decades. For demanding investors, it offers a rare opportunity to access a diversified company with a legendary investment philosophy led by Warren Buffett. This comprehensive and updated article in 2025 provides an in-depth analysis of the group, from the functioning of its stock market shares to growth prospects, through key financial indicators, managerial strategy, and factors to consider before investing in BRK.A or BRK.B.

Presentation of Berkshire Hathaway

History and Identity of the Group

Founded in the 19th century, Berkshire Hathaway underwent a revolution starting from 1965 under the leadership of Warren Buffett, who turned it into a spearhead of traditional and value investing. Based in Omaha, Nebraska, the group has evolved from a former textile manufacturer to a sprawling holding company operating in numerous essential sectors such as insurance (GEICO), public utilities and energy (Berkshire Hathaway Energy, MidAmerican Energy), distribution (McLane Company), industrial manufacturing, finance, and even stakes in global leaders like Coca-Cola, Apple, or American Express.

The decentralized structure and autonomy offered to subsidiaries make Berkshire Hathaway an example of stability and adaptability. The upcoming entry of Greg Abel as CEO, scheduled for January 1, 2026, ensures a smooth transition and continuity of management methods that have made the success of the group. Warren Buffett, who will remain chairman, will continue to exert major influence on strategic choices.

Activities and Segmentation

  • Insurance and Reinsurance: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group.
  • Public Utilities and Energy: Berkshire Hathaway Energy, with activities in electricity and gas production and distribution.
  • Railway Transport: Burlington Northern Santa Fe (BNSF), one of the largest railway networks in the United States.
  • Industrial Production and Consumer Goods: Fruit of the Loom, Lubrizol, Precision Castparts.
  • Distribution: McLane Company.
  • Services and Retail: Car rental, aviation, dealerships, and various.

Market Positioning

Berkshire Hathaway is listed exclusively on the New York Stock Exchange (NYSE) under two distinct symbols representing two classes of shares:

  • BRK.A: Class A, an extremely exclusive share with enhanced voting rights and a particularly high nominal value.
  • BRK.B: Class B, resulting from a split to make the share more accessible to individual investors while retaining the bulk of economic rights.

In November 2025, BRK.A trades at approximately 745,500 USD (or nearly 692,000 €) and BRK.B at 475.68 USD (about 441 € according to the current USD/EUR exchange rate).

The group's total market capitalization approaches 1,078 billion USD, or nearly 1,003 billion euros, solidifying Berkshire Hathaway's position among the top-ranked most valuable companies in the world.

  • Stock Symbol: BRK.A / BRK.B
  • Market: New York Stock Exchange (NYSE)
  • Industry: Financial Services, Holding Company
  • BRK.B Shares Outstanding: 2,157,333,421
  • Beta BRK.B: 0.82 over 5 years (reflecting lower volatility compared to the market)

Financial Analysis and Balance Sheet in 2025

Key Metrics and Financial Ratios

  • Market Capitalization: 1,078 billion USD (~1,003 billion €)
  • Current Price BRK.A: ~745,500 USD
  • Current Price BRK.B: 475.68 USD
  • Number of BRK.B Shares Outstanding: 2,157,333,421
  • Operating Profit (Q3 2025): 13.5 billion USD (+34% YoY)
  • Revenue (Q3 2025): 95 billion USD (+2.1%)
  • Cash Reserve (Q3 2025): A record 382 billion USD
  • Price-to-Earnings Ratio (P/E ratio for BRK.A): 12.6x
  • PEG Ratio: 1.18
  • Price-to-Book Ratio: 1.6x
  • Price-to-Sales Ratio: 2.8x
  • Upside Potential: +3.1% according to analysts

Balance Sheet: Strength and Prudence

Berkshire Hathaway's strategy is based on risk management and financial discipline. Its balance sheet reflects colossal assets and contained debt relative to the scale of its operations. Cash reserves exceed 382 billion dollars, ensuring rapid investment capacity and robustness in case of major market turbulence.

The year 2025 was marked by a significant increase in operating profit, driven by improvements in insurance results and interest income on US bonds. Industrial and public service subsidiaries continue to provide stability.

Historical Performance of Shares

Berkshire Hathaway is renowned for the exceptional long-term performance of its shares. Historically, BRK.A has seen its price grow exponentially: the stock has multiplied by more than 200 since the 1970s. This growth is explained by the strategy advocating patience, long-term investment, acquisition of high-value-added companies, and a policy of reinvesting profits – Berkshire has almost never paid dividends.

Recent performance, while still strong, shows a more measured growth, reflecting an increasingly uncertain international economic environment and specific challenges in certain sectors. Nevertheless, Berkshire Hathaway remains a core holding for investors seeking stability and diversification.

Dividend Policy and Yield

In contrast to most large publicly traded companies, Berkshire Hathaway has not paid a regular dividend for several decades. All profits are reinvested into internal growth or new investments, a strategy that has proven successful over the long term. Patient shareholders therefore benefit from the continuous appreciation of the stock value rather than periodic income.

Beta Ratio and Volatility

The beta, which measures the sensitivity of a security to market movements, remains below 1 for BRK.B (0.82 over 5 years), indicating limited volatility. This positions Berkshire Hathaway as a defensive value, less exposed to the ups and downs of global markets, with the ability to cushion economic cycles through its sectoral diversification.

Investment Strategies at Berkshire Hathaway

Investment Philosophy and Capital Allocation

The approach advocated by Warren Buffett is based on the rigorous selection of companies with sustainable competitive advantages, stable cash flows, and competent management teams. Acquisitions are targeted, with strict discipline on pricing. In 2025, Berkshire acquired OxyChem, Occidental's chemical subsidiary, for $9.7 billion, illustrating its ability to seize tactical opportunities while maintaining prudent cash management.

Governance is entering a new era with the upcoming appointment of Greg Abel as CEO, marking the transition after the Buffett era, without disrupting the fundamentals of the group.

Comparative Analysis BRK.A vs BRK.B

Criterion BRK.A BRK.B
Price in November 2025 ~$745,500 $475.68
Voting Rights 100x BRK.B Standard
Accessibility Reserved for institutional investors & the wealthy Accessible to the general public
Liquidity/Volume Low daily trading volume High volume
Dividend No No
Beta Ratio (Volatility) Similar to BRK.B 0.82 (moderate)

The Class A shares are ideal for investors capable of immobilizing very large sums, while Class B shares offer an affordable entry point, suitable for portfolio diversification.

Risks and Limitations of Investment

  • Past performance does not guarantee future results, especially in the context of rapid economic and technological changes.
  • The decentralized structure provides flexibility but can complicate financial analysis.
  • The managerial transition (Buffett/Abel) introduces uncertainty about succession policy.
  • The absence of dividends makes the stock unsuitable for profiles strictly oriented towards regular income.
  • The high valuation may lead to increased sensitivity to market corrections in case of global recession.

Perspectives and Trends for 2026 and Beyond

Financial Position and Acquisitions

Berkshire Hathaway continues to demonstrate remarkable resilience against global economic uncertainties thanks to its mountain of liquidity and the diversification of its business sectors. The cautious approach to acquisitions translates into carefully selected operations, such as the acquisition of OxyChem in 2025. The holding company maintains a large-scale investment capacity, allowing it to capitalize on emerging opportunities.

Changes at the Top

The appointment of Greg Abel at the helm ensures the continuity of the centralized governance model and proven methods of capital allocation. Warren Buffett will remain chairman, while Todd Combs and Ted Weschler will continue managing the investment portfolios.

Financial Challenges to Watch

  • Berkshire Hathaway’s ability to maintain solid organic growth in the insurance sector and industrial subsidiaries.
  • Management of cash reserves and investment strategies implemented in the new global context (rising interest rates, high valuations).
  • The evolution of profitability and liquidity ratios, key elements for assessing the defense of the business model against market shocks.
  • The performance of major holdings: Apple, Coca-Cola, American Express, Occidental Petroleum, etc.

How to Invest in Berkshire Hathaway in 2025?

Access to Shares and Conditions

To purchase Berkshire Hathaway shares, it is necessary to go through a broker offering access to the NYSE. Class A (BRK.A) requires substantial financial capacity, while Class B (BRK.B) is open to any investor wishing to be exposed to the Buffett philosophy.

The share is not eligible for PEA or SRD, but remains accessible in the majority of account-titres contracts. The choice between BRK.A and BRK.B will depend primarily on your profile, your objective, and the amount to be invested.

Practical Tips for Investing

  • Define your investment horizon: Berkshire Hathaway adapts to long-term growth strategies, not speculation.
  • Pay close attention to the weight of BRK in your portfolio to ensure optimal diversification.
  • Evaluate the moderate volatility offered by the group, perfect for reducing overall risk during periods of stock market turbulence.
  • Monitor quarterly and annual earnings reports, which provide valuable signals about the status of subsidiaries and their profitability.
  • Stay alert to the succession of Warren Buffett and upcoming strategic adjustments that could influence the investment policy.

Sector Focus: Why Does Berkshire Hathaway Attract Investors?

Competitive Advantages

  • Extreme diversification: insurance, industry, transportation, energy, technology, consumer goods.
  • Autonomy of subsidiaries: ability to quickly adapt to sector challenges.
  • Risk management: cash reserve strategy, robust capital structure, discipline in acquisitions.
  • Recognized leadership (Buffett/Abel).
  • History of superior long-term performance.

Weaknesses

  • No dividend, which may discourage certain types of investors.
  • Complexity of the model and limited transparency on some subsidiaries.
  • Strong dependence on the management's ability to maintain operational excellence after the succession of Buffett.

Key Figures for Berkshire Hathaway Analysis in 2025

  • BRK.A Price: ~745,500 USD (November 2025)
  • BRK.B Price: 475.68 USD (November 2025)
  • Market Capitalization: 1,078 billion USD (~1,003 billion €)
  • BRK.B Shares: 2,157,333,421
  • Beta BRK.B: 0.82
  • Operating Profit (Q3 2025): 13.5 billion USD (+34% year-over-year)
  • Available Cash: 382 billion USD
  • Price/Earnings Ratio BRK.A: 12.6x
  • Price/Book Ratio: 1.6x

Conclusion: Should You Invest in Berkshire Hathaway in 2025?

Berkshire Hathaway remains an exceptional value, embodying the robustness, efficiency, and rigor of American "value" investing. Its shares, whether BRK.A or BRK.B, rely on solid pillars: diversification, countercyclical model, prudent management, and a history of remarkable performance. The upcoming managerial transition is unlikely to alter the DNA of the group, but the future will depend on the ability to continue allocating capital wisely in a changing world.

For investors seeking stability, long-term growth, and exposure to a unique holding company, Berkshire Hathaway retains all the qualities of an indispensable asset in 2025, with the caveat of considering the absence of dividends and the importance of choosing the right class of shares according to the desired profile.

Monitor the next financial results and management decisions and invest with a long-term perspective, faithful to the Buffett philosophy: patience, discipline, and diversification.