Coverage summary
Aardvark Labs Capital Research has covered Berkshire Hathaway (BRK-B) since August 5, 2025. The company is in the Financial Services sector. This page lists 6 reports: 6 earnings recaps.
The latest is the Q3 2026 Earnings Recap, published November 7, 2026. That report moved the rating from Hold to Underperform. The rating has changed 3 times since coverage began.
Translations: 5 in Chinese, 4 in Japanese and 4 in Korean.
The Excel model for BRK-B holds 22 quarters and 5 fiscal years of history and 10 quarters and 5 fiscal years of projections. It was last updated September 27, 2026.
Rating history
All BRK-B reports
Recap: Q3 2026
Downgrading to Underperform: GEICO Tripped Our Trigger, and an AI Rotation Lifted the Stock to 1.6x Book, 13% Above Where Berkshire Itself Was Buying
Recap: Q2 2026
Downgrading to Hold: Abel Ended a 14-Quarter Selling Streak and Put $24 Billion to Work, But the Discount We Underwrote Is Mostly Spent and GEICO Is Breaking
Recap: Q1 2026
Maintaining Outperform: The Buyback Resumes for the First Time Since 2024, Cash Still Hits a Record $397B After OxyChem, and Abel's First Annual Meeting Stresses Continuity
Recap: Q4 2025
Upgrading to Outperform into the Sell-Off: A Cyclically Weak Quarter Masks a 12-Point Relative De-Rating, Abel's First Letter Reopens the Buyback Door, and OxyChem Closes
Recap: Q3 2025
Maintaining Hold: A 34% Operating-Earnings Jump That's Mostly FX and an Easy Catastrophe Comp — Meanwhile Cash Hits a Record $382B and the First Deal in Years Barely Dents It
Recap: Q2 2025
Initiating Berkshire at Hold: The Operating Engine Compounds Fine — It's the $344B of Idle Cash, the Buyback Drought, and the Succession Clock That Keep Us Neutral