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Berkshire Hathaway Inc.

BRK-AActive

CIK 1067983 · Mega-Cap Diversified Acquirers

Berkshire Hathaway Inc. is a public company in Insurance - Diversified, tracked in the mega-cap diversified acquirers sub-sector, with $375B TTM revenue and $71B TTM EBITDA.

Market data as of May 10, 2026

Financials: LTM / latest available company filings

Sources: FMP, BRK-A filings, SEC EDGAR

$1,025,929

Market cap ($MM)

$1,113,922

Enterprise value ($MM)

$375,394

Revenue · LTM ($MM)

$71,097

EBITDA · LTM ($MM)

19%

EBITDA margin

3.0x

EV / revenue

14.8x

EV / EBITDA

-0.8x

Net debt / EBITDA

Coverage

Coverage view

The analytical read on the name and the balance-sheet capacity behind the program.

Key points

  1. 01BRK-A is a scaled public consolidator in Mega-Cap, a benchmark for how the sub-sector buys, pays, and trades.
  2. 02The relevant peer set is HON, MMM, CAT.

Balance sheet & capacity

Indicative capacity read: -0.8x net debt / EBITDA with EBITDA of $71B.

$58,810

Cash & equiv. ($MM)

N/A

Total debt ($MM)

N/A

Net debt ($MM)

-0.8x

Net debt / EBITDA

Valuation

Where it trades against its peer set

BRK-A versus the scaled public Mega-Cap Diversified Acquirers comparables.

EV / EBITDA distribution · peer set

BRK-A 14.8x

20.3xBRK-A: 14.8x EV/EBITDABRK-AMMM: 16.6x EV/EBITDAMMMHON: 23.9x EV/EBITDAHONCAT: 29.5x EV/EBITDACAT12.4x31.9x

Indexed share-price performance

BRK-A versus available Mega-Cap Diversified Acquirers peers and SPY.

+66%

BRK-A

+0.4%

Peer med.

+79%

SPY

19712654May 21Nov 23May 26BRK-Apeer medianSPY

Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.

CompanyTickerRevenue ($MM)EBITDA ($MM)MarginMarket cap ($MM)EV ($MM)EV / revEV / EBITDANet debt / EBITDA
Berkshire Hathaway Inc.BRK-A$375,394$71,09719%$1,025,929$1,113,9223.0x14.8x-0.8x
Honeywell International IncHON$36,763$6,55018%$135,044$156,7074.3x23.9x3.3x
3m CompanyMMM$25,024$5,02220%$74,735$83,5623.3x16.6x1.4x
Caterpillar Inc.CAT$70,755$15,31222%$413,399$452,3936.4x29.5x2.1x
Mega-Cap Diversified Acquirers median$53,759$10,93120%$274,221$304,5503.8x20.3x1.8x

Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.

M&A program

A sustained, programmatic tuck-in cadence

BRK-A's disclosed acquisition footprint and the deals behind it.

Disclosed acquisitions

119

Active years

13

Named deals

5

Avg / active year

9.2

Acq. cash outflow ($MM)

N/A

Banker read

  • 01BRK-A reads as a programmatic acquirer: 119 disclosed acquisitions across 13 active years, or 9.2 per active year. The chart shows activity in 11 of the last 12 visible years.
  • 02In the last three years, the file shows 3 acquisitions versus 6 in the prior three; recent activity has cooled versus the prior three-year period.
  • 03Spend changes the read: $16B of disclosed spend is concentrated in lumpy years, with FY08 the largest year at $4.5B. Recent spend is the visible baseline.

Annual acquisitions + disclosed spend

count spend named deal
3 deals$4.5B080910111214151618202225

BRK-A count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.

Program diagnostics

Recent / prior

3 / 6

Last three years is down 50% vs prior three.

Peak count year

FY14

3 disclosed acquisitions in the peak visible year.

Recent spend

N/A

sets the visible baseline vs prior three; peak FY08 at $4.5B.

Named evidence

5 rows

4.2% selected source-cited transaction coverage.

Selected transactions

DateTargetSegmentConsideration ($MM)Strategic rationaleSource
Jan 1, 2008Marmon Holdings, Inc.Mega-cap diversified acquirers$4,800Marmon—In 2008, Berkshire acquired approximately 64% of Marmon Holdings, Inc. (“Marmon”), a private company owned by trusts for the benefit of members of the Pritzker Family of...10-K†
Mar 18, 2008Marmon Holdings, Inc.Mega-cap diversified acquirers$4,500Marmon—On March 18, 2008, Berkshire acquired 60% of Marmon Holdings, Inc. (“Marmon”), a private company owned by trusts for the benefit of members of the Pritzker Family of Chic...10-K†
Jan 2, 2026Occidental Petroleum Corporation’s chemicals businessMega-cap diversified acquirersN/ABerkshire completed the acquisition of Occidental Petroleum Corporation’s chemicals business (“OxyChem”) on January 2, 2026, pursuant to a definitive agreement as of October 1,...10-K†
Jul 31, 2025Bell Laboratories, LLCMega-cap diversified acquirersN/ABerkshire acquired Bell Laboratories, LLC (“Bell Laboratories”) on July 31, 2025. Bell Laboratories produces high quality rodenticides and other rodent control products for comm...10-K†
Jan 16, 2024Pilot Travel Centers, LLCMega-cap diversified acquirersN/AOn January 16, 2024, Berkshire acquired the remaining 20% noncontrolling interest and Pilot became an indirect wholly-owned subsidiary.10-K†

Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 10 SEC-backed facts across 4 cited filings.

Evidence

Source archive

A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.

Annual 10-Ks

21

Named deal filings

4

Recent SEC filings

10

Evidence clips

5

Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.21 rows+
Fiscal yearFiling dateFormStatusCountCash spendPurchase considerationSource
FY2025Mar 2, 2026Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2024Feb 24, 2025Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2023Feb 26, 2024Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2022Feb 27, 2023Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2021Feb 28, 2022Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2020Mar 1, 2021Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2019Feb 24, 2020Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2017Feb 26, 2018Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2015Feb 29, 2016Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2014Mar 2, 2015Annual M&A 10-Kaccepted4N/AN/ASEC filing
FY2013Mar 3, 2014Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2012Mar 1, 2013Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2011Feb 27, 2012Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2010Feb 28, 2011Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2009Mar 1, 2010Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2008Mar 2, 2009Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2007Feb 29, 2008Annual M&A 10-Kquarantined (1 warn, 1 issue)2$1.6BN/ASEC filing
FY2006Mar 1, 2007Annual M&A 10-Kwarning (1 warn)N/A$10BN/ASEC filing
FY2005Mar 13, 2006Annual M&A 10-Kwarning (1 warn)1$2.4BN/ASEC filing
FY2004Mar 15, 2005Annual M&A 10-Kwarning (1 warn)N/A$414MMN/ASEC filing
FY2003Mar 12, 2004Annual M&A 10-KacceptedN/AN/AN/ASEC filing
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.4 rows+
Filing dateFormTargets / topicsSupportSource
Mar 2, 202610-KOccidental Petroleum Corporation’s chemicals business; Bell Laboratories, LLCFinancialsAnnual M&ANamed dealsSEC filing
Feb 24, 202510-KPilot Travel Centers, LLCAnnual M&ANamed dealsSEC filing
Mar 1, 201010-KMarmon Holdings, Inc.Annual M&ANamed dealsSEC filing
Mar 2, 200910-KMarmon Holdings, Inc.Annual M&ANamed dealsSEC filing
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.10 rows+
Filing dateFormItemsDescriptionSupportSource
Mar 2, 202610-KN/A10-KFinancialsAnnual M&ANamed dealsRecent SECSEC filing
May 7, 20268-K2.02,5.02,5.03,5.07,9.018-KRecent SECSEC filing
May 4, 202610-QN/A10-QRecent SECSEC filing
May 1, 202610-QN/AQuarterly report from SEC company indexRecent SECSEC filing
Apr 16, 20268-K8.01,9.018-KRecent SECSEC filing
Mar 13, 2026DEFA14AN/ADEFA14ARecent SECSEC filing
Mar 13, 2026DEFA14AN/ADEFA14ARecent SECSEC filing
Mar 13, 2026DEF 14AN/ADEF 14ARecent SECSEC filing
Mar 5, 20268-K8.01,9.018-KRecent SECSEC filing
Mar 2, 20268-K2.02,9.018-KRecent SECSEC filing
Evidence clipsShort excerpts used on the page; expand only when you want the language.5 rows+

Acquisition of approximately 64% of Marmon Holdings, Inc.

10-K - Mar 1, 2010

Medium

Marmon—In 2008, Berkshire acquired approximately 64% of Marmon Holdings, Inc. (“Marmon”), a private company owned by trusts for the benefit of members of the Pritzker Family of Chicago for $4.8 billion.

SEC source

Marmon Holdings, Inc.

10-K - Mar 2, 2009

Medium

Marmon—On March 18, 2008, Berkshire acquired 60% of Marmon Holdings, Inc. (“Marmon”), a private company owned by trusts for the benefit of members of the Pritzker Family of Chicago for $4.5 billion.

SEC source

OxyChem

10-K - Mar 2, 2026

Medium

Berkshire completed the acquisition of Occidental Petroleum Corporation’s chemicals business (“OxyChem”) on January 2, 2026, pursuant to a definitive agreement as of October 1, 2025. Pursuant to the agreement, Occidenta…

SEC source

Bell Laboratories, LLC

10-K - Mar 2, 2026

Medium

Berkshire acquired Bell Laboratories, LLC (“Bell Laboratories”) on July 31, 2025. Bell Laboratories produces high quality rodenticides and other rodent control products for commercial, agricultural and retail markets an…

SEC source

Pilot Travel Centers, LLC acquisition

10-K - Feb 24, 2025

Medium

On January 16, 2024, Berkshire acquired the remaining 20% noncontrolling interest and Pilot became an indirect wholly-owned subsidiary.

SEC source

Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.

Prepared from SEC EDGAR public filingsBRK-A · CIK 1067983Source-backed coverage research, not investment advice