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BERKSHIRE HATHAWAY STOCK INTELLIGENCE
Is Berkshire Really Safer Than the S&P 500?
Market data through Nov 6, 2026
Berkshire had a shallower drawdown than the S&P 500 in 6 of 11 market declines—but a deeper drawdown in 5. Its defensive reputation doesn't tell the whole story. Compare every qualifying decline, inspect recovery dates, and see which periods Berkshire struggled through. Both assets are measured within the same S&P 500 peak-to-trough windows.
Research & Analysis by Kamal Khondkar • Quantitative Researcher • TradingNInvestment
DRAWDOWN & RECOVERY
BRK.B vs S&P 500: Corrections & Recessions
Compare the deepest closing loss within identical event windows. Both series start a new running peak at the beginning of each window. This measures the decline experienced along the way, not just the return between two dates.
All distinct S&P 500 declines of at least 10% from a running peak in this dataset. Each comparison ends at the market trough; a new episode is counted only after the previous peak is regained. Smaller selloffs inside an unrecovered episode are not counted again.
BRK.BS&P 500Longer bar = deeper loss · Scale: 0–60%
1997 Correction
Oct 7, 1997 → Oct 27, 1997
BRK.B drawdown was 4.56 percentage points shallower.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Oct 7, 1997 | Oct 27, 1997 | -6.24% |
| S&P 500 | Oct 7, 1997 | Oct 27, 1997 | -10.80% |
S&P 500 previous peak regained: Dec 5, 1997.
1998 Correction
Jul 17, 1998 → Aug 31, 1998
BRK.B drawdown was 1.76 percentage points deeper.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Jul 20, 1998 | Aug 31, 1998 | -20.44% |
| S&P 500 | Jul 17, 1998 | Aug 31, 1998 | -19.34% |
S&P 500 previous peak regained: Nov 23, 1998.
1999 Correction
Jul 16, 1999 → Oct 15, 1999
BRK.B drawdown was 7.36 percentage points deeper.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Jul 16, 1999 | Oct 1, 1999 | -17.42% |
| S&P 500 | Jul 16, 1999 | Oct 15, 1999 | -12.08% |
S&P 500 previous peak regained: Nov 16, 1999.
2000–02 Bear market
Mar 24, 2000 → Oct 9, 2002
BRK.B drawdown was 25.89 percentage points shallower.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | May 17, 2002 | Jul 23, 2002 | 25.85% |
| S&P 500 | Mar 24, 2000 | Oct 9, 2002 | -49.15% |
S&P 500 previous peak regained: May 30, 2007.
2007–09 Bear market
Oct 9, 2007 → Mar 9, 2009
BRK.B drawdown was 2.91 percentage points shallower.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Dec 10, 2007 | Mar 5, 2009 | -43.51% |
| S&P 500 | Oct 9, 2007 | Mar 9, 2009 | -56.78% |
S&P 500 previous peak regained: Mar 28, 2013.
2015–16 Correction
May 21, 2015 → Feb 11, 2016
BRK.B drawdown was 0.39 percentage points deeper.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | May 21, 2015 | Jan 25, 2016 | -13.89% |
| S&P 500 | May 21, 2015 | Feb 11, 2016 | -14.16% |
S&P 500 previous peak regained: Jul 11, 2016.
2018 Correction
Jan 26, 2018 → Feb 8, 2018
BRK.B drawdown was 1.73 percentage points deeper.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Feb 1, 2018 | Feb 8, 2018 | -11.87% |
| S&P 500 | Jan 26, 2018 | Feb 8, 2018 | -10.16% |
S&P 500 previous peak regained: Aug 24, 2018.
2018 Correction
Sep 20, 2018 → Dec 24, 2018
BRK.B drawdown was 3.69 percentage points shallower.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Oct 9, 2018 | Dec 24, 2018 | -15.30% |
| S&P 500 | Sep 20, 2018 | Dec 24, 2018 | -19.78% |
S&P 500 previous peak regained: Apr 23, 2019.
2020 Bear market
Feb 19, 2020 → Mar 23, 2020
BRK.B drawdown was 4.62 percentage points shallower.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Feb 21, 2020 | Mar 23, 2020 | -29.27% |
| S&P 500 | Feb 19, 2020 | Mar 23, 2020 | -33.92% |
S&P 500 previous peak regained: Aug 18, 2020.
2022 Bear market
Jan 3, 2022 → Oct 12, 2022
BRK.B drawdown was 1.15 percentage points deeper.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Mar 28, 2022 | Oct 12, 2022 | -12.23% |
| S&P 500 | Jan 3, 2022 | Oct 12, 2022 | -25.43% |
S&P 500 previous peak regained: Jan 19, 2024.
2025 Correction
Feb 19, 2025 → Apr 8, 2025
BRK.B drawdown was 10.10 percentage points shallower.
Inspect dates and endpoint returns
| Series | Own peak | Own trough | Window return |
|---|---|---|---|
| BRK.B | Apr 2, 2025 | Apr 7, 2025 | 1.83% |
| S&P 500 | Feb 19, 2025 | Apr 8, 2025 | -18.90% |
S&P 500 previous peak regained: Jun 27, 2025.
Data: May 9, 1996–Nov 6, 2026. Source: Yahoo Finance (stock); TNI S&P 500 daily dataset. S&P 500 price index, excluding reinvested dividends. This is a market benchmark proxy, not actual SPY ETF returns. Berkshire uses adjusted closes. A window's maximum drawdown may differ from the full-history maximum and from its endpoint return. Recession dates: NBER chronology, checked 2026-11-07. Market events, metrics and this image refresh with the BRK.B annual-return update. New official recession dates require a chronology update. Past performance does not guarantee future results.
DRAWDOWN & RECOVERY
BRK-B vs S&P 500 Drawdowns
Compare Berkshire Hathaway with the S&P 500 during market declines. Drawdown measures the loss from each investment's previous peak. The chart shows the depth of losses over the same dates; the recovery timeline tracks Berkshire's deepest decline.
How severe can a BRK-B drawdown be?
In this synchronized BRK-B–S&P 500 dataset, BRK-B's maximum adjusted-close drawdown was -53.86%, compared with -56.78% for S&P 500.
A hypothetical $10,000 investment made at BRK-B's prior peak would have fallen to approximately $4,614 at the trough. Recovering from that loss requires a subsequent gain of approximately 117% just to return to the previous peak.
The same comparison for S&P 500 would reduce $10,000 to approximately $4,322, requiring roughly 131% to recover. This illustrates why the magnitude of a percentage loss matters: the gain required to recover becomes increasingly large as drawdowns deepen.
BRK-B DRAWDOWN HISTORY
From peak to recovery
The timeline of BRK-B's deepest historical decline.
TOTAL TIME BELOW PREVIOUS PEAK
1,894calendar days
Drawdown perspective
BRK-B declined from its Dec 10, 2007 peak to its lowest point on Mar 5, 2009. It regained that previous high on Feb 15, 2013, completing a decline-and-recovery cycle of 1,894 calendar days.
Source: Yahoo Finance (stock); TNI S&P 500 daily dataset. Drawdowns are calculated from synchronized daily adjusted-close observations from 1996-05-09 through 2026-11-06. Each series is measured from its own running peak over the identical comparison period. Benchmark note: this comparison uses the S&P 500 price index as a market benchmark proxy for SPY, not actual SPY ETF returns. The index series excludes reinvested dividends and does not include SPY fund expenses or tracking differences. Each maximum drawdown is measured from that series' own peak and may span different dates. Data through Nov 6, 2026. Past performance does not guarantee future results.
Did downside resilience translate into better long-term returns?
Drawdowns show the losses along the way. Use the return comparisons, growth charts and annual history below to assess Berkshire's performance over your investment horizon.
Berkshire Hathaway Inc. Historical Return Statistics
Historical Berkshire Hathaway Inc. annual price-return statistics from 1997 to present, with the current year reported separately as year-to-date. (Market data through Nov 6, 2026)
Historical Coverage
1997 to Present
Latest verified market data
Average Annual Return
+12.90%
Completed calendar years
Median Annual Return
+15.46%
Completed calendar years
Positive / Non-Negative Years
23
79.31% of completed years
Negative Years
6
20.69% of completed years
Best Year
+52.70%
1998
Worst Year
-32.14%
2008
Current Year Return
+13.58%
2026 YTD · Through Nov 6, 2026
Berkshire Hathaway Inc. 1-Year, 3-Year, 5-Year, 10-Year and 20-Year Returns
Period returns are compounded from the latest completed calendar-year Berkshire Hathaway Inc. price returns. Multi-year cards also show the annualized return for the same completed-year period.
1-Year Return
+10.89%
2025 completed calendar year
3-Year Return
+17.62%
2023–2025 • Annualized
5-Year Return
+16.74%
2021–2025 • Annualized
10-Year Return
+14.30%
2016–2025 • Annualized
20-Year Return
+11.33%
2006–2025 • Annualized
Growth of $10,000
See how a hypothetical $10,000 investment in Berkshire Hathaway grew over time.
1997–2025Long-term growth
BRK.B vs. S&P 500 — Total Return
Growth of $10,000 · Dividends reinvested
● BRK.B: $226,011● S&P 500: $153,1632025
Annual observations through the last completed calendar year. Each selected period is rebased to $10,000. Sources: Stock adjusted-close total-return series; TNI S&P 500 historical total-return dataset.
Research Interpretation
BRK.B vs. S&P 500: Total Return Analysis
Over the maximum available period (1996–2025),BRK.B generated a cumulative total return of +2160.1%, compared with +1431.6% for the S&P 500. BRK.B outperformed the benchmark by 728.5 percentage points. Both comparisons incorporate reinvested dividends.
Understanding Relative Performance
The distance between the two cumulative-return lines illustrates how BRK.B's investment performance has diverged from the broader market. A widening positive gap indicates relative outperformance, while a narrowing or negative gap indicates weaker relative performance. Results depend on the investment horizon, so selecting another period may change the comparison.
What Investors Can Learn
BRK.B represents exposure to a single company's business performance, competitive position, and valuation. The S&P 500 provides diversified exposure to large U.S. companies. Comparing their total returns helps distinguish company-specific investment outcomes from broad-market performance, although historical results do not predict future returns.
RETURN BREAKDOWN20-Year Comparison
| Return Component | Ending Value | CAGR | Contribution |
|---|---|---|---|
| Price Return | $85,616 | 11.3% | 100.0% |
| Dividend + Reinvestment | +$0 | — | 0.0% |
| Total Return | $85,616 | 11.3% | 100.0% |
CONTRIBUTION THROUGH TIMEHow Reinvestment Compounded
| Year | Price Wealth | Total Wealth | Dividend + Reinvestment | Contribution |
|---|---|---|---|---|
| 2006 | $12,489 | $12,489 | +$0 | 0.0% |
| 2007 | $16,134 | $16,134 | +$0 | 0.0% |
| 2008 | $10,949 | $10,949 | +$0 | 0.0% |
| ···2023 | $60,749 | $60,749 | +$0 | 0.0% |
| 2024 | $77,206 | $77,206 | +$0 | 0.0% |
| 2025 | $85,616 | $85,616 | +$0 | 0.0% |
Contribution % represents the share of ending total-return wealth associated with the difference between the dividend-reinvested total-return path and the price-only path. It is not the historical dividend yield.
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Annual Returns
Berkshire Hathaway Inc. Annual Price Returns by Year
Performance
Time Period
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Benchmark Comparison
Berkshire Hathaway Inc. vs. S&P 500 Returns
Annual price-return comparison across overlapping completed calendar years from 1997 through 2025. Excess return is Berkshire Hathaway Inc. return minus S&P 500 return.
Years Compared
29
Berkshire Hathaway Inc. Avg. Return
+12.90%
S&P 500 Avg. Return
+9.55%
Avg. Excess Return
+3.35%
Outperformed
18 years
62.1% of comparable years
Underperformed
11 years
| Year | Berkshire Hathaway Inc. | S&P 500 | Difference | Result |
|---|---|---|---|---|
| 2025 | +10.89% | +16.39% | -5.50% | Underperformed |
| 2024 | +27.09% | +23.31% | +3.78% | Outperformed |
| 2023 | +15.46% | +24.23% | -8.77% | Underperformed |
| 2022 | +3.31% | -19.44% | +22.75% | Outperformed |
| 2021 | +28.95% | +26.89% | +2.06% | Outperformed |
| 2020 | +2.37% | +16.26% | -13.89% | Underperformed |
| 2019 | +10.93% | +28.88% | -17.95% | Underperformed |
| 2018 | +3.01% | -6.24% | +9.24% | Outperformed |
| 2017 | +21.62% | +19.42% | +2.20% | Outperformed |
| 2016 | +23.43% | +9.54% | +13.90% | Outperformed |
Comparison uses calendar-year price returns over the common historical period. Current-year YTD performance is shown separately and is excluded from completed-year statistics.
Comparative Intelligence
BRK-B vs. ^GSPC
Rolling 10-Year Annualized Returns
Each point shows the annualized price return over the trailing 10 completed calendar years. Select a year to compare the long-term return for BRK-B and ^GSPC.
● BRK-B● ^GSPC
2025
14.30%BRK-B2025
12.85%^GSPCExcess
+1.45%BRK-B − ^GSPCPrice-return comparison. Rolling results are calculated from annual calendar-year returns and exclude the current incomplete year. Hover or tap a year to inspect the values.
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Berkshire Hathaway Inc. Annual Returns by Year: 1997 to Present
Showing 29 annual price-return observations for 1997–2025.
● Negative● 0% – <10%● ≥10%
| Year | Berkshire Hathaway Price Return | Return Category |
|---|---|---|
| 2025 | +10.89% | ≥10% |
| 2024 | +27.09% | ≥10% |
| 2023 | +15.46% | ≥10% |
| 2022 | +3.31% | 0% – <10% |
| 2021 | +28.95% | ≥10% |
| 2020 | +2.37% | 0% – <10% |
| 2019 | +10.93% | ≥10% |
| 2018 | +3.01% | 0% – <10% |
| 2017 | +21.62% | ≥10% |
| 2016 | +23.43% | ≥10% |
| 2015 | -12.06% | Negative |
| 2014 | +26.64% | ≥10% |
| 2013 | +32.17% | ≥10% |
| 2012 | +17.56% | ≥10% |
| 2011 | -4.76% | Negative |
| 2010 | +21.90% | ≥10% |
| 2009 | +2.24% | 0% – <10% |
| 2008 | -32.14% | Negative |
| 2007 | +29.19% | ≥10% |
| 2006 | +24.89% | ≥10% |
| 2005 | -0.02% | Negative |
| 2004 | +4.30% | 0% – <10% |
| 2003 | +16.18% | ≥10% |
| 2002 | -4.04% | Negative |
| 2001 | +7.26% | 0% – <10% |
| 2000 | +28.63% | ≥10% |
| 1999 | -22.13% | Negative |
| 1998 | +52.70% | ≥10% |
| 1997 | +38.40% | ≥10% |
The current year is reported as year-to-date (YTD). Historical figures shown on this page are Berkshire Hathaway Inc. price returns.
Interactive Berkshire Hathaway Inc. Return Statistics
Statistics below update with the selected filters. Average, median, best and worst annual returns use completed calendar years only, so the current YTD period does not distort historical annual statistics.
Average Annual Return
+12.90%
29 completed years
Median Annual Return
+15.46%
Completed years only
Positive Years
23
79.31% of completed years
Negative Years
6
20.69% of completed years
Best Year
+52.70%
1998
Worst Year
-32.14%
2008
Historical Coverage
1997 to Present
Return Type
Berkshire Hathaway Price Return
Data Source
Yahoo Finance — Berkshire Hathaway Inc. Class B (BRK-B)
Berkshire Hathaway Inc. Historical Returns: What the Available Market History Shows
The history of Berkshire Hathaway Inc. returns shows how annual performance has varied across the available historical record.
This Berkshire Hathaway Inc. yearly returns database contains 29 completed calendar years from 1997 through 2025, plus the current 2026 year-to-date observation.
Across those 29 completed years, the average annual Berkshire Hathaway Inc. price return was +12.90%.
The median annual return was +15.46%.
Those summary statistics are useful, but the complete Berkshire Hathaway Inc. annual-return history provides more detail about how yearly performance has varied across the available record.
Looking at individual annual observations makes it possible to compare yearly outcomes using the same verified historical dataset.
Positive Berkshire Hathaway Inc. Years: Average Return +19.53%
One of the strongest findings in the historical Berkshire Hathaway Inc. returns dataset is the frequency of non-negative calendar years.
Of the 29 completed calendar years, 23 were non-negative.
That represents 79.31% of all completed years in the historical dataset.
Across those 23 non-negative years, the average annual Berkshire Hathaway Inc. price return was +19.53%.
The median return among those non-negative years was +21.62%.
That median is useful because it shows that the positive-year average was not driven solely by a small number of extraordinary market gains.
Strongest Positive Berkshire Hathaway Inc. Year
The strongest completed year in the entire dataset was 1998, when the Berkshire Hathaway Inc. price return reached +52.70%.
For this research, a zero return is included in the non-negative group.
Negative Berkshire Hathaway Inc. Years: Average Loss -12.52%
Negative years tell the other side of Berkshire Hathaway Inc. performance history.
Across the same 29 completed calendar years, 6 years were negative.
That represents 20.69% of completed years.
Looking only at those 6 negative years, the average annual Berkshire Hathaway Inc. price return was -12.52%.
The median negative-year return was -8.41%.
These figures show that a negative calendar year historically meant considerably more than simply finishing slightly below zero.
Worst Berkshire Hathaway Inc. Year
The worst calendar year in the dataset was 2008, when the Berkshire Hathaway Inc.price return fell -32.14%.
Negative calendar years occurred less frequently than non-negative calendar years, but several historical losses were substantial.
What Positive and Negative Berkshire Hathaway Inc. Returns Show Together
Putting both groups together reveals one of the most important characteristics of historical Berkshire Hathaway Inc. returns.
There were 23 non-negative completed years compared with 6 negative completed years.
The average return during the 23 non-negative years was +19.53%.
The average return during the 6 negative years was -12.52%.
Across all 29 completed years together, the average annual Berkshire Hathaway Inc. price return was +12.90%.
The median annual return across the full historical period was +15.46%.
An investor rarely experiences the long-term historical average in any particular calendar year.
Instead, individual Berkshire Hathaway Inc. annual returns can vary substantially around that average.
That is one reason the complete Berkshire Hathaway Inc. historical returns by year table can be more informative than relying on a single long-term number.
What Does the Berkshire Hathaway Inc. Average Return of +12.90% Mean?
Across the 29 completed calendar years in this dataset, the arithmetic Berkshire Hathaway Inc. average return was +12.90% per completed calendar year.
This is the arithmetic average of the individual annual price returns in the historical dataset.
It does not mean the market gained exactly 12.90% in a typical year.
Individual Berkshire Hathaway Inc. yearly returns frequently differed substantially from that number.
The median annual return of +15.46% provides a second way to evaluate the distribution.
Looking at both the average and median gives readers more information about historical Berkshire Hathaway Inc. returns than either statistic provides by itself.
These figures represent Berkshire Hathaway Inc. price returns, not total returns.
Berkshire Hathaway Inc. 3-Year Return View
The current Berkshire Hathaway Inc. 3-year return view covers 2024 through 2026 YTD.
Within that window, there are 2 completed calendar years.
The average annual price return across those completed years was +18.99%.
The median annual return was +18.99%.
2 of the 2 completed years were non-negative, representing 100.00% of completed observations.
0 completed years were negative, representing 0.00%.
The strongest completed year in the period was 2024 at +27.09%.
The weakest completed year was 2025 at +10.89%.
The current 2026 YTD return of +13.58% remains separate from those completed-year statistics.
3-Year Average Return Is Not the Same as 3-Year CAGR
The +18.99% figure is the arithmetic average of the completed annual price returns in this display window. It should not be described as a 3-year cumulative return or compound annual growth rate.
A true 3-year cumulative return or CAGR requires a different calculation.
This completed-year sample can be compared with the full 29-year historical record when interpreting recent-period results.
Berkshire Hathaway Inc. 5-Year Return View
The current Berkshire Hathaway Inc. 5-year return view covers 2022 through 2026 YTD.
Within that window, there are 4 completed calendar years.
The average annual price return across those completed years was +14.19%.
The median annual return was +13.18%.
4 of the 4 completed years were non-negative, representing 100.00% of completed observations.
0 completed years were negative, representing 0.00%.
The strongest completed year in the period was 2024 at +27.09%.
The weakest completed year was 2022 at +3.31%.
The current 2026 YTD return of +13.58% remains separate from those completed-year statistics.
5-Year Average Return Is Not the Same as 5-Year CAGR
The +14.19% figure is the arithmetic average of the completed annual price returns in this display window. It should not be described as a 5-year cumulative return or compound annual growth rate.
A true 5-year cumulative return or CAGR requires a different calculation.
This completed-year sample can be compared with the full 29-year historical record when interpreting recent-period results.
Berkshire Hathaway Inc. 10-Year Return View
The current Berkshire Hathaway Inc. 10-year return view covers 2017 through 2026 YTD.
Within that window, there are 9 completed calendar years.
The average annual price return across those completed years was +13.74%.
The median annual return was +10.93%.
9 of the 9 completed years were non-negative, representing 100.00% of completed observations.
0 completed years were negative, representing 0.00%.
The strongest completed year in the period was 2021 at +28.95%.
The weakest completed year was 2020 at +2.37%.
The current 2026 YTD return of +13.58% remains separate from those completed-year statistics.
10-Year Average Return Is Not the Same as 10-Year CAGR
The +13.74% figure is the arithmetic average of the completed annual price returns in this display window. It should not be described as a 10-year cumulative return or compound annual growth rate.
A true 10-year cumulative return or CAGR requires a different calculation.
This completed-year sample can be compared with the full 29-year historical record when interpreting recent-period results.
Berkshire Hathaway Inc. 20-Year Return View
The current Berkshire Hathaway Inc. 20-year return view covers 2007 through 2026 YTD.
Within that window, there are 19 completed calendar years.
The average annual price return across those completed years was +11.99%.
The median annual return was +15.46%.
16 of the 19 completed years were non-negative, representing 84.21% of completed observations.
3 completed years were negative, representing 15.79%.
The strongest completed year in the period was 2013 at +32.17%.
The weakest completed year was 2008 at -32.14%.
The current 2026 YTD return of +13.58% remains separate from those completed-year statistics.
20-Year Average Return Is Not the Same as 20-Year CAGR
The +11.99% figure is the arithmetic average of the completed annual price returns in this display window. It should not be described as a 20-year cumulative return or compound annual growth rate.
A true 20-year cumulative return or CAGR requires a different calculation.
This completed-year sample can be compared with the full 29-year historical record when interpreting recent-period results.
Best and Worst Berkshire Hathaway Inc. Annual Returns
The strongest calendar-year price return in the dataset occurred in 1998 at +52.70%.
The worst annual price return occurred in 2008 at -32.14%.
These extremes are far removed from the full-dataset Berkshire Hathaway Inc. average return of +12.90%.
Berkshire Hathaway Inc. Price Return vs. Total Return
Understanding the type of return used on this page is essential.
The historical figures presented here are Berkshire Hathaway Inc. price returns.
Price return measures the change in the market price of the asset between periods.
The figures on this page do not include dividends.
Therefore, these results should not be interpreted as Berkshire Hathaway Inc. total returns.
A total-return series would incorporate dividends or other distributions according to the methodology of that series.
The chart, historical table, filters, and statistics on this page represent Berkshire Hathaway Inc. price performance only.
Berkshire Hathaway Inc. Return 2026 YTD
The current dataset shows the Berkshire Hathaway Inc. return for 2026 at +13.58% YTD through Nov 6, 2026.
Unlike the completed historical calendar-year observations, 2026 is still in progress.
TradingNInvestment therefore displays the 2026 YTD return separately.
It is excluded from calculations such as the historical average, median, best completed year, and worst completed year.
This prevents a partial-year observation from being treated as though it were directly comparable with a completed calendar year.
The 2026 YTD result can change when the underlying verified market data is updated.
Why the Median Berkshire Hathaway Inc. Annual Return Matters
Average return is one of the most commonly quoted historical stock market statistics.
But the median provides useful additional information.
Across the 29 completed years, the median annual Berkshire Hathaway Inc. price return was +15.46%, compared with an average of +12.90%.
The difference indicates that the distribution of historical annual returns is not perfectly symmetrical.
Large negative years can pull the arithmetic average downward.
Average, median, positive-year frequency, negative-year frequency, best year, and worst year together provide a more complete view of historical Berkshire Hathaway Inc. returns.
No single statistic captures the entire history.
How Often Have Berkshire Hathaway Inc. Returns Been Positive?
The dataset contains 23 non-negative years out of 29 completed years.
That corresponds to 79.31% of completed calendar years.
This is a historical frequency, not a probability forecast.
It would be incorrect to say that Berkshire Hathaway Inc. has a 79.31% probability of rising next year simply because 79.31% of these historical observations were non-negative.
Future market conditions can differ substantially from historical conditions.
The statistic describes what occurred across the observed period, not what must happen in the future.
Why Study Historical Berkshire Hathaway Inc. Returns?
Historical Berkshire Hathaway Inc. returns provide context that recent performance alone cannot provide.
A large gain or decline can appear unusual when viewed only against the most recent observations.
Comparing the current period with the available historical distribution helps show how it relates to earlier outcomes.
Historical returns can help investors, researchers, students, and analysts examine how annual performance has varied through the available record.
They can also reduce the tendency to use only recent performance as the reference point for evaluating the current year.
How to Use the Berkshire Hathaway Inc. Return Explorer
The TradingNInvestment Return Explorer is designed to make historicalBerkshire Hathaway Inc. returns easier to investigate.
Instead of presenting only a static chart, the tool allows readers to filter the same verified annual-return dataset.
Readers can examine all available years, non-negative years, negative years, and available historical periods.
The chart, annual-returns table, and summary statistics update from the same selected data.
Readers interested in downside history can examine the 6 negative calendar years in the completed-year dataset.
Readers studying non-negative historical performance can examine the 23 non-negative calendar years in the completed-year dataset.
When sufficient history is available, readers can also use the available period views to focus on more recent performance.
The purpose is not to predict the next Berkshire Hathaway Inc. return, but to make the available historical observations easier to explore and understand.
Reading Berkshire Hathaway Inc. Performance History in Context
One of the biggest risks when studying historical returns is selecting a period that confirms an existing belief.
A short period can appear exceptionally strong or exceptionally weak depending on its starting and ending years.
Using the broader available Berkshire Hathaway Inc. history provides additional context for interpreting shorter periods.
Different historical windows can produce different average returns, frequencies of positive and negative years, and extreme outcomes.
None of those periods is inherently the single correct measure of historical performance. They answer different questions about different parts of the available record.
This is why TradingNInvestment provides both the available historical series and interactive period filters.
What the Available Berkshire Hathaway Inc. Return History Shows
The dataset contains 29 completed calendar years of Berkshire Hathaway Inc. price-return observations.
Of those completed years, 23 were non-negative and 6 were negative.
When completed years were non-negative, the average annual return was +19.53%.
When completed years were negative, the average annual return was -12.52%.
The strongest completed calendar year in the dataset was 1998 at +52.70%, while the weakest was 2008 at -32.14%.
The overall average annual Berkshire Hathaway Inc. price return across the 29 completed calendar years was +12.90%.
Together, these statistics provide a broader view of the historical return distribution than the average alone.
The complete Berkshire Hathaway Inc. annual-return dataset allows readers to examine the individual yearly observations behind the summary statistics.
TradingNInvestment aims to make market history simple to read, easy to understand, and rigorous enough to support serious market research.
Research Context
Berkshire Hathaway Inc. Historical Returns Research
This TNI research page examines Berkshire Hathaway Inc. annual price returns by calendar year. The published dataset covers 1997–2025and separates completed historical years from current-year performance.
Annual price return is calculated from the final available closing price of each calendar year relative to the final available closing price of the prior calendar year. The page provides the year-by-year dataset, historical statistics, interactive visualization, and research methodology.
BERKSHIRE HATHAWAY STOCK INTELLIGENCE
Berkshire Hathaway Stock Returns FAQ
Frequently asked questions based on TNI's verified historical annual-return dataset.
What is Berkshire Hathaway's historical average annual return?
Across 29 completed calendar years, Berkshire Hathaway's average annual berkshire hathaway price return was +12.90%. The current partial year is excluded from this historical average.
What is Berkshire Hathaway's 5-year return?
Over the latest five completed calendar years (2021–2025), Berkshire Hathaway produced a cumulative return of +116.78%, equivalent to an annualized return of +16.74%.
What is Berkshire Hathaway's 10-year return?
Over the latest ten completed calendar years (2016–2025), Berkshire Hathaway produced a cumulative return of +280.68%, equivalent to an annualized return of +14.30%.
How often has Berkshire Hathaway had a non-negative year?
Berkshire Hathaway had a non-negative annual return in 23 of 29 completed calendar years, or 79.31% of the historical observations in this dataset.
What were Berkshire Hathaway's best and worst years?
Berkshire Hathaway's strongest completed calendar year in this dataset was 1998, with a return of +52.70%. Its weakest was 2008, with a return of -32.14%.
How does Berkshire Hathaway compare with the S&P 500?
The S&P 500 comparison on this page places Berkshire Hathaway's annual price returns beside the benchmark on a year-by-year basis. This keeps the comparison on the same price-return basis rather than mixing price return with dividend-adjusted total return.
Methodology & Source
How the annual returns are calculated
Annual price return is calculated using the final available close of each calendar year relative to the final available close of the prior calendar year. The current calendar year is shown as YTD and is excluded from completed-year summary statistics.
Data Source: Yahoo Finance — Berkshire Hathaway Inc. Class B (BRK-B). Return Type: Berkshire Hathaway Price Return.
Historical Returns Tell You What Happened Before. See What Is Happening Now.
Historical Berkshire Hathaway Inc. returns provide context for long-term market performance, strong years, drawdowns, and changing market conditions. TNI Intelligence tracks current market-moving news and live market intelligence as conditions change.
VIEW TODAY'S MARKET INTELLIGENCEBerkshire Hathaway Cash Reserves & Share Buybacks
How much liquidity did Berkshire hold, and how much cash did it spend buying back its own shares? Compare the ten completed years from 2016 to 2025, with the latest reported period shown separately. Cash supports obligations and investment flexibility; it does not guarantee protection from stock-price declines.
Latest reported snapshot: Sep 30, 2026
Cash, equivalents & Treasury bills$377.44BConsolidated gross balance
After Treasury purchase payables$356.95BGross less $20.49B unsettled purchases
Cash paid for share buybacks$13.76BFirst nine months of 2026 · Not annualized
Cash and equivalents: $40.70B; separately reported Treasury bills: $336.74B. Berkshire reported approximately $14.4B of repurchases executed during the first nine months, including September purchases settled in October. That is different from cash paid within the period. The balance after Treasury payables is not net cash after all debt or obligations. Balance sheet · Cash-flow statement
USD billions · Scale: $0–$400B
2016$86.37B
2017$115.95B
2018$111.87B
2019$128.00B
2020$138.29B
2021$146.72B
2022$128.59B
2023$167.64B
2024$334.20B
2025$373.31B
USD billions · Scale: $0–$30B
2016$0.00B
2017$0.00B
2018$1.35B
2019$4.85B
2020$24.71B
2021$27.06B
2022$7.85B
2023$9.17B
2024$2.92B
2025$0.00B
Charts use separate scales. Cash is a December 31 balance; buybacks are cash spent during the year. The 2026 year-to-date figures are excluded from these full-year charts.
| Year | Cash & equivalents | Treasury bills* | Gross total | Buybacks: cash paid | Sources |
|---|---|---|---|---|---|
| 2016 | $28.05B | $58.32B | $86.37B | $0.00B | Balance sheet · Buybacks |
| 2017 | $31.58B | $84.37B | $115.95B | $0.00B | Balance sheet · Buybacks |
| 2018 | $30.36B | $81.51B | $111.87B | $1.35B | Balance sheet · Buybacks |
| 2019 | $64.17B | $63.82B | $128.00B | $4.85B | Balance sheet · Buybacks |
| 2020 | $47.99B | $90.30B | $138.29B | $24.71B | Balance sheet · Buybacks |
| 2021 | $88.18B | $58.53B | $146.72B | $27.06B | Balance sheet · Buybacks |
| 2022 | $35.81B | $92.77B | $128.59B | $7.85B | Balance sheet · Buybacks |
| 2023 | $38.02B | $129.62B | $167.64B | $9.17B | Balance sheet · Buybacks |
| 2024 | $47.73B | $286.47B | $334.20B | $2.92B | Balance sheet · Buybacks |
| 2025 | $51.88B | $321.43B | $373.31B | $0.00B | Balance sheet · Buybacks |
Definitions, sources and reporting dates
*Treasury bills here are the separately reported short-term investment line. Consolidated cash and cash equivalents plus separately reported short-term U.S. Treasury bills, summed across balance-sheet business groups. Excludes restricted cash reported in other assets. Treasury bills already included in cash equivalents are not counted twice. Figures are gross of payables for unsettled Treasury purchases.
Cash paid for acquisitions of Berkshire treasury stock, from consolidated statements of cash flows; includes Class A and Class B shares. Excludes subsidiaries buying their own shares and purchases of other companies. Settlement timing can differ from the value of repurchases executed.
Annual figures use comparative statements in Berkshire's annual reports; 2016 zero buybacks are also confirmed in its 2016 Form 10-K. Amounts are stored in USD millions and displayed in billions, rounded to two decimals.
Financial-report dates are independent of daily market-data dates. Figures require review when a new quarterly or annual filing is released. Last financial-data review: Nov 7, 2026.