Berkshire Hathaway Q3 FY25: where the revenue came from and where it went
The whole income statement of Berkshire Hathaway for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Nov 3, 2025
Revenue$95.0B
+2% year over year
Operating profit$15.8B
17% margin
Net profit$30.8B
32% margin
Net profit is larger than what operations earned, because the statement adds $22.2B below it, under Other income, net.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 95.0 | 100% | +2% |
| Insurance & corporate | 27.2 | 29% | +1% |
| Manufacturing businesses | 20.0 | 21% | +2% |
| McLane company | 13.0 | 14% | +3% |
| Pilot travel centers | 10.9 | 11% | +2% |
| Service & retailing | 10.6 | 11% | +8% |
| Berkshire Hathaway energy | 7.3 | 8% | +0% |
| Burlington Northern Santa Fe | 6.0 | 6% | +2% |
| Operating expenses | −79.1 | 83% | |
| Cost of sales & services | −40.9 | 43% | +0pp |
| Insurance losses & benefits | −18.2 | 19% | +0pp |
| Other | −9.9 | 10% | +0pp |
| SG&A | −6.3 | 7% | +0pp |
| Railroad, utilities & energy | −3.9 | 4% | +0pp |
| Operating profit | 15.8 | 17% margin | +4pp |
| Other income, net | 22.2 | ||
| Tax | −7.2 | ||
| Net profit | 30.8 | 32% margin | +4pp |
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