Berkshire Hathaway Inc.

AI-generated fair value estimate for this company.

Method: Sum-of-the-parts: $364.7B cash & short-term Treasuries (funded in part by $177.5B insurance float invested conservatively) plus $323.8B marketable equity/bond portfolio (Apple, American Express, Coca-Cola, etc., per Q2 2026 10-Q) plus operating businesses (BNSF railroad, Berkshire Hathaway Energy, insurance underwriting, manufacturing/service/retail) normalized pre-tax earnings of ~$65B (annualized from 1H2026 after-tax operating earnings of ~$25.7B) at a 10x multiple = $650B, less an estimated $40B deferred tax liability on unrealized portfolio gains, divided by 2.14B Class-B-equivalent shares outstanding.

Reasoning: Berkshire is a diversified holding company best valued by summing the fair value of its investment portfolio (marked to market) and the earnings power of its wholly owned operating businesses at a conservative multiple, the 'three-bucket' look-through approach Buffett himself has described, rather than a single blended P/E or DCF.