Intrinsic value of Berkshire Hathaway Cl B - BRK-B

Previous Close

$205.83

  Intrinsic Value

$5.65

stock screener

  Rating & Target

str. sell

-97%

Previous close

$205.83

 
Intrinsic value

$5.65

 
Up/down potential

-97%

 
Rating

str. sell

We calculate the intrinsic value of BRK-B stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 275.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.30
  7.97
  7.67
  7.41
  7.17
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.16
Revenue, $m
  262,234
  283,134
  304,859
  327,436
  350,898
  375,280
  400,626
  426,980
  454,395
  482,924
  512,627
  543,567
  575,811
  609,432
  644,504
  681,108
  719,329
  759,254
  800,977
  844,597
  890,215
  937,940
  987,885
  1,040,169
  1,094,916
  1,152,255
  1,212,325
  1,275,267
  1,341,233
  1,410,380
Variable operating expenses, $m
  219,454
  236,659
  254,542
  273,127
  292,440
  312,511
  333,374
  355,069
  377,636
  401,120
  421,980
  447,449
  473,992
  501,667
  530,538
  560,670
  592,132
  624,997
  659,342
  695,249
  732,801
  772,087
  813,200
  856,239
  901,304
  948,505
  997,952
  1,049,765
  1,104,066
  1,160,986
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  219,454
  236,659
  254,542
  273,127
  292,440
  312,511
  333,374
  355,069
  377,636
  401,120
  421,980
  447,449
  473,992
  501,667
  530,538
  560,670
  592,132
  624,997
  659,342
  695,249
  732,801
  772,087
  813,200
  856,239
  901,304
  948,505
  997,952
  1,049,765
  1,104,066
  1,160,986
Operating income, $m
  42,780
  46,476
  50,317
  54,309
  58,458
  62,770
  67,251
  71,912
  76,759
  81,804
  90,647
  96,118
  101,819
  107,764
  113,966
  120,439
  127,197
  134,257
  141,635
  149,348
  157,415
  165,854
  174,685
  183,931
  193,611
  203,750
  214,372
  225,502
  237,167
  249,394
EBITDA, $m
  121,841
  131,552
  141,646
  152,136
  163,037
  174,365
  186,142
  198,387
  211,124
  224,380
  238,181
  252,556
  267,538
  283,159
  299,454
  316,462
  334,220
  352,770
  372,156
  392,423
  413,619
  435,793
  458,999
  483,291
  508,728
  535,370
  563,280
  592,524
  623,174
  655,301
Interest expense (income), $m
  3,732
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
  16,261
Earnings before tax, $m
  26,519
  30,214
  34,056
  38,048
  42,197
  46,508
  50,990
  55,650
  60,498
  65,543
  74,385
  79,856
  85,558
  91,503
  97,705
  104,178
  110,936
  117,996
  125,374
  133,087
  141,153
  149,593
  158,424
  167,669
  177,350
  187,489
  198,111
  209,241
  220,906
  233,133
Tax expense, $m
  7,160
  8,158
  9,195
  10,273
  11,393
  12,557
  13,767
  15,026
  16,334
  17,697
  20,084
  21,561
  23,101
  24,706
  26,380
  28,128
  29,953
  31,859
  33,851
  35,933
  38,111
  40,390
  42,775
  45,271
  47,885
  50,622
  53,490
  56,495
  59,645
  62,946
Net income, $m
  19,359
  22,057
  24,861
  27,775
  30,804
  33,951
  37,223
  40,625
  44,164
  47,846
  54,301
  58,295
  62,457
  66,797
  71,325
  76,050
  80,983
  86,137
  91,523
  97,153
  103,042
  109,203
  115,650
  122,399
  129,466
  136,867
  144,621
  152,746
  161,261
  170,187

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Adjusted assets (=assets-cash), $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Revenue / Adjusted assets
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Average production assets, $m
  754,711
  814,861
  877,385
  942,362
  1,009,883
  1,080,056
  1,153,000
  1,228,849
  1,307,748
  1,389,855
  1,475,340
  1,564,385
  1,657,185
  1,753,944
  1,854,883
  1,960,230
  2,070,228
  2,185,133
  2,305,213
  2,430,750
  2,562,039
  2,699,392
  2,843,134
  2,993,607
  3,151,167
  3,316,191
  3,489,071
  3,670,220
  3,860,069
  4,059,073
Working capital, $m
  -255,941
  -276,339
  -297,543
  -319,578
  -342,476
  -366,273
  -391,011
  -416,733
  -443,489
  -471,334
  -500,324
  -530,521
  -561,992
  -594,805
  -629,036
  -664,762
  -702,065
  -741,032
  -781,754
  -824,326
  -868,850
  -915,430
  -964,176
  -1,015,205
  -1,068,638
  -1,124,601
  -1,183,229
  -1,244,661
  -1,309,044
  -1,376,531
Total debt, $m
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
  301,133
Total liabilities, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total equity, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total liabilities and equity, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  19,359
  22,057
  24,861
  27,775
  30,804
  33,951
  37,223
  40,625
  44,164
  47,846
  54,301
  58,295
  62,457
  66,797
  71,325
  76,050
  80,983
  86,137
  91,523
  97,153
  103,042
  109,203
  115,650
  122,399
  129,466
  136,867
  144,621
  152,746
  161,261
  170,187
Depreciation, amort., depletion, $m
  79,061
  85,076
  91,329
  97,826
  104,579
  111,596
  118,890
  126,475
  134,365
  142,576
  147,534
  156,438
  165,718
  175,394
  185,488
  196,023
  207,023
  218,513
  230,521
  243,075
  256,204
  269,939
  284,313
  299,361
  315,117
  331,619
  348,907
  367,022
  386,007
  405,907
Funds from operations, $m
  98,420
  107,133
  116,190
  125,602
  135,382
  145,547
  156,113
  167,100
  178,529
  190,422
  201,835
  214,734
  228,176
  242,192
  256,813
  272,073
  288,006
  304,650
  322,044
  340,228
  359,246
  379,142
  399,963
  421,759
  444,582
  468,486
  493,528
  519,768
  547,268
  576,094
Change in working capital, $m
  -19,615
  -20,398
  -21,204
  -22,035
  -22,898
  -23,797
  -24,737
  -25,722
  -26,756
  -27,844
  -28,990
  -30,197
  -31,471
  -32,814
  -34,231
  -35,726
  -37,303
  -38,967
  -40,722
  -42,573
  -44,524
  -46,580
  -48,746
  -51,029
  -53,433
  -55,964
  -58,628
  -61,432
  -64,383
  -67,487
Cash from operations, $m
  118,035
  127,531
  137,393
  147,637
  158,281
  169,344
  180,850
  192,822
  205,285
  218,266
  230,825
  244,931
  259,646
  275,005
  291,044
  307,798
  325,309
  343,617
  362,766
  382,801
  403,769
  425,722
  448,709
  472,788
  498,015
  524,450
  552,156
  581,200
  611,651
  643,581
Maintenance CAPEX, $m
  -69,695
  -75,471
  -81,486
  -87,739
  -94,236
  -100,988
  -108,006
  -115,300
  -122,885
  -130,775
  -138,985
  -147,534
  -156,438
  -165,718
  -175,394
  -185,488
  -196,023
  -207,023
  -218,513
  -230,521
  -243,075
  -256,204
  -269,939
  -284,313
  -299,361
  -315,117
  -331,619
  -348,907
  -367,022
  -386,007
New CAPEX, $m
  -57,764
  -60,150
  -62,524
  -64,977
  -67,521
  -70,173
  -72,944
  -75,849
  -78,899
  -82,107
  -85,485
  -89,045
  -92,800
  -96,760
  -100,938
  -105,347
  -109,998
  -114,905
  -120,080
  -125,537
  -131,290
  -137,353
  -143,742
  -150,472
  -157,560
  -165,024
  -172,880
  -181,149
  -189,850
  -199,003
Cash from investing activities, $m
  -127,459
  -135,621
  -144,010
  -152,716
  -161,757
  -171,161
  -180,950
  -191,149
  -201,784
  -212,882
  -224,470
  -236,579
  -249,238
  -262,478
  -276,332
  -290,835
  -306,021
  -321,928
  -338,593
  -356,058
  -374,365
  -393,557
  -413,681
  -434,785
  -456,921
  -480,141
  -504,499
  -530,056
  -556,872
  -585,010
Free cash flow, $m
  -9,423
  -8,090
  -6,617
  -5,078
  -3,477
  -1,817
  -100
  1,673
  3,501
  5,385
  6,355
  8,352
  10,408
  12,527
  14,711
  16,963
  19,288
  21,690
  24,173
  26,743
  29,405
  32,165
  35,028
  38,002
  41,094
  44,309
  47,657
  51,144
  54,779
  58,571
Issuance/(repayment) of debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total cash flow (excl. dividends), $m
  -9,423
  -8,090
  -6,617
  -5,078
  -3,477
  -1,817
  -100
  1,673
  3,501
  5,385
  6,355
  8,352
  10,408
  12,527
  14,711
  16,963
  19,288
  21,690
  24,173
  26,743
  29,405
  32,165
  35,028
  38,002
  41,094
  44,309
  47,657
  51,144
  54,779
  58,571
Retained Cash Flow (-), $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  0
  0
  0
  0
  0
  0
  0
  1,673
  3,501
  5,385
  6,355
  8,352
  10,408
  12,527
  14,711
  16,963
  19,288
  21,690
  24,173
  26,743
  29,405
  32,165
  35,028
  38,002
  41,094
  44,309
  47,657
  51,144
  54,779
  58,571
Discount rate, %
  12.20
  12.81
  13.45
  14.12
  14.83
  15.57
  16.35
  17.17
  18.02
  18.93
  19.87
  20.87
  21.91
  23.00
  24.16
  25.36
  26.63
  27.96
  29.36
  30.83
  32.37
  33.99
  35.69
  37.47
  39.35
  41.31
  43.38
  45.55
  47.83
  50.22
PV of cash for distribution, $m
  0
  0
  0
  0
  0
  0
  0
  471
  788
  951
  865
  859
  792
  690
  573
  456
  348
  256
  182
  124
  81
  52
  31
  18
  10
  6
  3
  1
  1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in various business activities. Its segments include Insurance, such as GEICO, Berkshire Hathaway Primary Group, General Re Corporation and Berkshire Hathaway Reinsurance Group; Burlington Northern Santa Fe, LLC, which is engaged in the operation of the railroad system; Berkshire Hathaway Energy, which includes regulated electric and gas utility; Manufacturing, which includes manufacturers of various products, including industrial, consumer and building products; McLane Company, which is engaged in the wholesale distribution of groceries and non-food items; Service and retailing, which includes providers of various services, including fractional aircraft ownership programs, aviation pilot training and various retailing businesses, and Finance and financial products, which includes manufactured housing and related consumer financing, transportation equipment, manufacturing and leasing, and furniture leasing.

FINANCIAL RATIOS  of  Berkshire Hathaway Cl B (BRK-B)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate 6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -19.5%
Cap. Spend. - 3 Yr. Gr. Rate 3.2%
Financial Strength
Quick Ratio 36
Current Ratio NaN
LT Debt to Equity 35.2%
Total Debt to Equity 35.9%
Interest Coverage 10
Management Effectiveness
Return On Assets 4.6%
Ret/ On Assets - 3 Yr. Avg. 4.6%
Return On Total Capital 6.6%
Ret/ On T. Cap. - 3 Yr. Avg. 6.8%
Return On Equity 8.9%
Return On Equity - 3 Yr. Avg. 9.1%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 24.4%
Gross Margin - 3 Yr. Avg. 24.4%
EBITDA Margin 20.7%
EBITDA Margin - 3 Yr. Avg. 20.8%
Operating Margin 14.6%
Oper. Margin - 3 Yr. Avg. 15.2%
Pre-Tax Margin 15.1%
Pre-Tax Margin - 3 Yr. Avg. 15.4%
Net Profit Margin 10.8%
Net Profit Margin - 3 Yr. Avg. 10.8%
Effective Tax Rate 27.4%
Eff/ Tax Rate - 3 Yr. Avg. 28.6%
Payout Ratio 0%

BRK-B stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BRK-B stock intrinsic value calculation we used $242137 million for the last fiscal year's total revenue generated by Berkshire Hathaway Cl B. The default revenue input number comes from 2017 income statement of Berkshire Hathaway Cl B. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BRK-B stock valuation model: a) initial revenue growth rate of 8.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 12.2%, whose default value for BRK-B is calculated based on our internal credit rating of Berkshire Hathaway Cl B, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Berkshire Hathaway Cl B.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BRK-B stock the variable cost ratio is equal to 83.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BRK-B stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Berkshire Hathaway Cl B.

Corporate tax rate of 27% is the nominal tax rate for Berkshire Hathaway Cl B. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BRK-B stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BRK-B are equal to 287.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Berkshire Hathaway Cl B operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BRK-B is equal to -97.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Berkshire Hathaway Cl B - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 1338 million for Berkshire Hathaway Cl B is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Berkshire Hathaway Cl B at the current share price and the inputted number of shares is $275.4 billion.

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