Railroad, Utilities & Energy was Berkshire Hathaway’s largest product and service line in fiscal 2025, bringing in $149.17B of $226.29B (66%).
| Product and Service | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Insurance & Other | $749.61B | $944.19B | — | — | ||||||
| Property/Casualty | — | — | — | — | ||||||
| Underwriting | $116.95B | $81.03B | $346.59B | $77.12B | ||||||
| Railroad, Utilities & Energy | — | — | $149.40B | $149.17B | ||||||
| Investment Income | — | $34.86B | $50.44B | — | ||||||
| Finance & Financial Products | — | — | — | — | ||||||
| Life/Health | — | — | — | — | ||||||
| Total | $866.57B | $1,060.08B | $546.42B | $226.29B |
Berkshire Hathaway brought in $226.29B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. Berkshire Hathaway regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $546.42B. Railroad, Utilities & Energy was the largest at $149.17B (65.9%), ahead of Underwriting at $77.12B (34.1%).
Compared with fiscal 2024, Railroad, Utilities & Energy fell 0.2% to $149.17B and Underwriting fell 77.7% to $77.12B.
Berkshire Hathaway stopped reporting Insurance & Other ($944.19B in fiscal 2023) and Investment Income ($50.44B in fiscal 2024) as separate lines.
Insurance & Other was Berkshire Hathaway’s largest segment in fiscal 2013, bringing in $278.98B of $292.88B (95%).
| Financial Segments | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 |
|---|---|---|---|---|---|
| Insurance & Other | $315.78B | $332.21B | $244.34B | $278.98B | |
| Railroad, Utilities & Energy | $79.09B | $92.52B | — | — | |
| Finance & Financial Products | $13.68B | $6.34B | $13.07B | $13.91B | |
| Total | $408.56B | $431.06B | $257.42B | $292.88B |
Berkshire Hathaway brought in $292.88B from its two segments in fiscal 2013, the year ended December 31, 2013. That was up 13.8% from $257.42B in fiscal 2012. Insurance & Other was the largest at $278.98B (95.3%), ahead of Finance & Financial Products at $13.91B (4.7%).
Compared with fiscal 2012, Insurance & Other grew 14.2% to $278.98B and Finance & Financial Products grew 6.4% to $13.91B.
Berkshire Hathaway stopped reporting Railroad, Utilities & Energy as a separate segment after fiscal 2011, when it brought in $92.52B.
Insurance, Corporate & Other was Berkshire Hathaway’s largest segment in fiscal 2021, bringing in $225.55B of $756.52B (30%).
| Statement Business Segments | FY 2007 | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenues | — | — | — | — | ||||||||||
| Total Revenues | — | — | — | — | ||||||||||
| Insurance, Corporate & Other | — | — | — | $225.55B | ||||||||||
| Manufacturing Businesses | — | — | $176.93B | $206.19B | ||||||||||
| Mclane | — | $151.37B | $140.52B | — | ||||||||||
| Mclane Company | — | — | — | — | ||||||||||
| Insurance Group | — | — | — | — | ||||||||||
| Berkshire Hathaway Insurance Group | — | — | — | — | ||||||||||
| Other Businesses | — | — | — | — | ||||||||||
| Service & Retailing | — | $88.46B | $84.53B | $104.50B | ||||||||||
| Service & Retailing Businesses | $86.82B | — | — | — | ||||||||||
| Berkshire Hathaway Energy ("Bhe") | — | — | — | $150.44B | ||||||||||
| Berkshire Hathaway Energy | $59.96B | $60.34B | $63.30B | — | ||||||||||
| Bnsf | $71.57B | $70.55B | $62.61B | $69.85B | ||||||||||
| Midamerican | — | — | — | — | ||||||||||
| Marmon | — | — | — | — | ||||||||||
| Finance & Financial Products Reportable | — | — | — | — | ||||||||||
| Total | $218.34B | $370.72B | $527.90B | $756.52B |
Berkshire Hathaway brought in $756.52B from its five segments in fiscal 2021, the year ended December 31, 2021. Berkshire Hathaway regrouped these segments after fiscal 2020, so the total does not compare directly with that year's $527.90B. Insurance, Corporate & Other was the largest at $225.55B (29.8%), ahead of Manufacturing Businesses at $206.19B (27.3%) and Berkshire Hathaway Energy ("Bhe") at $150.44B (19.9%). The other two segments brought in $174.34B combined.
Compared with fiscal 2020, Service & Retailing grew fastest, up 23.6% to $104.50B. Every segment above 2% of revenue grew.
Berkshire Hathaway began breaking out Insurance, Corporate & Other in fiscal 2021, Service & Retailing in fiscal 2019 and Berkshire Hathaway Energy ("Bhe") in fiscal 2021. Berkshire Hathaway stopped reporting Mclane ($140.52B in fiscal 2020), Service & Retailing Businesses ($86.82B in fiscal 2018) and Berkshire Hathaway Energy ($63.30B in fiscal 2020) as separate segments.
Berkshire Hathaway (BRK-B) reports its revenue by product and service, by financial segments and by statement business segments. In fiscal 2025, Railroad, Utilities & Energy was its largest product and service line, bringing in $149.17B (65.9% of the total), followed by Underwriting at $77.12B (34.1%).
Railroad, Utilities & Energy was Berkshire Hathaway's largest product and service line in fiscal 2025, bringing in $149.17B, or 65.9% of the $226.29B total across its two product and service lines.
Insurance & Other was Berkshire Hathaway's largest segment in fiscal 2013, bringing in $278.98B, or 95.3% of the $292.88B total across its two segments.
Insurance & Other grew faster than Finance & Financial Products in fiscal 2013, up 14.2% from $244.34B to $278.98B. Finance & Financial Products grew 6.4% to $13.91B.
Every figure comes from Berkshire Hathaway's annual financial filings, as reported. Each line keeps the name Berkshire Hathaway gives it, and years follow its fiscal calendar.
Berkshire Hathaway's revenue by product and service goes back to fiscal 2014, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.