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BerkshireHathawayWEB

BerkshireHathawayWEB

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Published by mattpauls
How to think about the value of Berkshire Hathaway.
How to think about the value of Berkshire Hathaway.

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Published by: mattpauls on Jun 19, 2010
Copyright:Attribution Non-commercial

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07/10/2013

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Last119,13552 Week High125,252Change73552 Week Low83,957% Change0.6211 Year Total Return(%)33.03Open116,4103 Years Total Return(%)8.23High119,357Low116,410Common Primary Shares (mil)1Volume588Market Cap Consolidated (mil)194,791CurrencyUSDValuation Range (mil)217,000to230,000
Berkshire Hathaway Inc.
(BRK-A)Class A $ 119,135Market Capitalization 196,324,000,000Reasonably Valued 217,000,000,000
April 2009 (LAST YEAR)
Last year Berkshire Hathaway sold forwhat I believed was a clearlyundervalued, $135.9 billion. Myassessment at that time was thatBerkshire Hathaway was worth, atminimum, $160 billion, but couldreasonably command $172 billion.April 2009 market value:
$135,946,000,000
!
!
April 2009 estimated business valuerange:
!
$160,000,000,000 - $172,000,000,000
April2010 (CURRENT)
At the time of this writing, BerkshireHathaway sells for $200,000,000,000.Though Mr. Market was way off last year,Berkshire currently sells right aroundwhere it should.
Current Business(Intrinsic) Value Estimate$217,000,000,000
!!!!
to$230,000,000,000
Last year I discussed Berkshire Hathaway’s valuation atlength. Let’s continue the tradition with an update.
Matt paulsPO Box 523714, 6200 Rolling RoadSpringfield, Virginia 22152matt@mattpauls.com(703) 659-9391©Matt PaulsPO Box 523714, 6200 Rolling Road Springfield, Virginia 22152matt@mattpauls.com 
April 19, 2010
 
Major Shareholders....................................................... 1Debt Maturity Profile.................................................... 1Major Subsidiaries......................................................... 2Berkshire Hathaway, Inc. Tearsheet............................... 3Annual Financials Statements........................................ 4
Balance Sheet 4Statement of Income 5Statement of Cash Flows 6Annual Financial Ratios 7Limitations of Consolidated Financial Statements 8
Overview........................................................................
 
9
Derivatives in More Detail 10Itemized Derivatives Contracts 11
Operating Units..............................................................
 
12
Insurance 13Total Investments 14Other Investments 15Float 18Equities 19
Value of Insurance Operations 20Non-Insurance Business 21
Burlington Northern Santa Fe........................................
 
22
BNSF Tear Sheet 23BNSF Merger 24
Berkshire Hathaway Inc., Business Value....................... 26
 
!
BERKSHIRE HATHAWAY, INC.
 
©Matt Pauls
PO Box 523714, 6200 Rolling Road Springfield, Virginia 22152matt@mattpauls.com 
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