Berkshire Hathaway annual operating margin
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2024
2025
Berkshire Hathaway Operating Margin Growth & History (BRK-B)
Berkshire Hathaway's operating margin was −28.81% for fiscal 2025.
View full Berkshire Hathaway company overviewBerkshire Hathaway annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | −28.81% | −2.39 pp |
| 2024 | 2024-12-31 | −26.42% | −0.44 pp |
| 2023 | 2023-12-31 | −25.99% | +2.27 pp |
| 2022 | 2022-12-31 | −28.26% | −0.81 pp |
| 2021 | 2021-12-31 | −27.45% | +11.27 pp |
| 2020 | 2020-12-31 | −38.72% | −10.85 pp |
| 2019 | 2019-12-31 | −27.87% | −2.92 pp |
| 2018 | 2018-12-31 | −24.95% | −32.74 pp |
| 2017 | 2017-12-31 | 7.79% | −3.48 pp |
| 2016 | 2016-12-31 | 11.27% | −5.35 pp |
| 2015 | 2015-12-31 | 16.62% | +2.18 pp |
| 2014 | 2014-12-31 | 14.45% | −1.36 pp |
| 2013 | 2013-12-31 | 15.81% | +3.45 pp |
| 2012 | 2012-12-31 | 12.36% | +0.40 pp |
| 2011 | 2011-12-31 | 11.96% | −0.72 pp |
| 2010 | 2010-12-31 | 12.68% | +2.76 pp |
| 2009 | 2009-12-31 | 9.92% | +2.89 pp |
| 2008 | 2008-12-31 | 7.03% | −10.02 pp |
| 2007 | 2007-12-31 | 17.05% | — |
Berkshire Hathaway quarterly operating margin
Q3.08
Q1.09
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Q4.09
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Q4.10
Q1.11
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Q3.17
Q4.17
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Q4.20
Q1.21
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Q3.21
Q4.21
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Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | −22.76% | +6.52 pp |
| Q1 2026 | 2026-03-31 | −26.59% | +5.27 pp |
| Q4 2025 | 2025-12-31 | −30.21% | −5.61 pp |
| Q3 2025 | 2025-09-30 | −24.14% | +6.76 pp |
| Q2 2025 | 2025-06-30 | −29.28% | −3.92 pp |
| Q1 2025 | 2025-03-31 | −31.86% | −6.99 pp |
| Q4 2024 | 2024-12-31 | −24.60% | +5.11 pp |
| Q3 2024 | 2024-09-30 | −30.90% | −7.20 pp |
| Q2 2024 | 2024-06-30 | −25.36% | −2.02 pp |
| Q1 2024 | 2024-03-31 | −24.87% | +2.49 pp |
| Q4 2023 | 2023-12-31 | −29.70% | +7.19 pp |
| Q3 2023 | 2023-09-30 | −23.71% | +4.07 pp |
| Q2 2023 | 2023-06-30 | −23.33% | −0.93 pp |
| Q1 2023 | 2023-03-31 | −27.35% | −1.41 pp |
| Q4 2022 | 2022-12-31 | −36.90% | −8.83 pp |
| Q3 2022 | 2022-09-30 | −27.78% | +1.57 pp |
| Q2 2022 | 2022-06-30 | −22.41% | +4.25 pp |
| Q1 2022 | 2022-03-31 | −25.94% | −0.39 pp |
| Q4 2021 | 2021-12-31 | −28.07% | −5.83 pp |
| Q3 2021 | 2021-09-30 | −29.34% | +1.63 pp |
| Q2 2021 | 2021-06-30 | −26.66% | +37.23 pp |
| Q1 2021 | 2021-03-31 | −25.55% | +5.54 pp |
| Q4 2020 | 2020-12-31 | −22.24% | +1.67 pp |
| Q3 2020 | 2020-09-30 | −30.97% | −6.88 pp |
| Q2 2020 | 2020-06-30 | −63.89% | −37.91 pp |
| Q1 2020 | 2020-03-31 | −31.09% | −4.84 pp |
| Q4 2019 | 2019-12-31 | −23.91% | −2.78 pp |
| Q3 2019 | 2019-09-30 | −24.10% | −2.31 pp |
| Q2 2019 | 2019-06-30 | −25.98% | −4.43 pp |
| Q1 2019 | 2019-03-31 | −26.25% | −0.06 pp |
| Q4 2018 | 2018-12-31 | −21.13% | −28.18 pp |
| Q3 2018 | 2018-09-30 | −21.79% | −29.12 pp |
| Q2 2018 | 2018-06-30 | −21.55% | −31.26 pp |
| Q1 2018 | 2018-03-31 | −26.19% | −33.39 pp |
| Q4 2017 | 2017-12-31 | 7.05% | +6.07 pp |
| Q3 2017 | 2017-09-30 | 7.33% | −10.18 pp |
| Q2 2017 | 2017-06-30 | 9.71% | −3.50 pp |
| Q1 2017 | 2017-03-31 | 7.20% | −4.72 pp |
| Q4 2016 | 2016-12-31 | 0.98% | −13.12 pp |
| Q3 2016 | 2016-09-30 | 17.50% | −6.46 pp |
| Q2 2016 | 2016-06-30 | 13.21% | +1.52 pp |
| Q1 2016 | 2016-03-31 | 11.92% | −3.72 pp |
| Q4 2015 | 2015-12-31 | 14.10% | +1.94 pp |
| Q3 2015 | 2015-09-30 | 23.96% | +10.78 pp |
| Q2 2015 | 2015-06-30 | 11.69% | −6.23 pp |
| Q1 2015 | 2015-03-31 | 15.63% | +1.12 pp |
| Q4 2014 | 2014-12-31 | 12.16% | −6.21 pp |
| Q3 2014 | 2014-09-30 | 13.18% | −2.67 pp |
| Q2 2014 | 2014-06-30 | 17.92% | +2.50 pp |
| Q1 2014 | 2014-03-31 | 14.52% | +1.10 pp |
| Q4 2013 | 2013-12-31 | 18.37% | +8.43 pp |
| Q3 2013 | 2013-09-30 | 15.85% | +2.60 pp |
| Q2 2013 | 2013-06-30 | 15.42% | +0.23 pp |
| Q1 2013 | 2013-03-31 | 13.42% | +2.04 pp |
| Q4 2012 | 2012-12-31 | 9.94% | −1.60 pp |
| Q3 2012 | 2012-09-30 | 13.26% | −4.38 pp |
| Q2 2012 | 2012-06-30 | 15.18% | +3.91 pp |
| Q1 2012 | 2012-03-31 | 11.37% | +3.85 pp |
| Q4 2011 | 2011-12-31 | 11.55% | −1.11 pp |
| Q3 2011 | 2011-09-30 | 17.64% | +5.62 pp |
| Q2 2011 | 2011-06-30 | 11.28% | −4.09 pp |
| Q1 2011 | 2011-03-31 | 7.52% | −3.29 pp |
| Q4 2010 | 2010-12-31 | 12.65% | −0.83 pp |
| Q3 2010 | 2010-09-30 | 12.02% | −4.16 pp |
| Q2 2010 | 2010-06-30 | 15.37% | −0.81 pp |
| Q1 2010 | 2010-03-31 | 10.81% | +21.97 pp |
| Q4 2009 | 2009-12-31 | 13.48% | — |
| Q3 2009 | 2009-09-30 | 16.18% | +10.80 pp |
| Q2 2009 | 2009-06-30 | 16.18% | — |
| Q1 2009 | 2009-03-31 | −11.16% | — |
| Q3 2008 | 2008-09-30 | 5.38% | — |
Berkshire Hathaway operating margin trends
Over the last five fiscal years, Berkshire Hathaway's operating margin increased from −38.72% to −28.81%, a change of +9.91 percentage points. The latest reported quarter, Q2 2026, shows −22.76%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Berkshire Hathaway source filings ↗