Berkshire Hathaway Inc. (BRK-B) 股票估值 — PE 分析

Q: 基於本益比，BRK-B 被高估了嗎？

BRK-B 的本益比 12.5x 結合 PEG 比率 0.34 提供了成長調整後的視角。PEG 低於 1.0 表明 本益比相對於獲利成長率偏低。注意 PE 估值最適合獲利穩定的成熟公司——對於高成長或週期性Insurance - Diversified，DCF 分析可能更合適。

Insurance - Diversified · NYSE

目前價格

$495.82

PE Ratio (TTM)

12.5x

內在價值

$532.83

安全邊際 +6.9%

AI 護城河與風險分析

AI 生成 · 僅供參考BRK-B

競爭護城河

↑品牌聲譽卓著

波克夏·海瑟威的品牌聲譽是其無形資產的核心，吸引了忠誠的客戶群和頂尖人才。這種信任感轉化為強大的定價能力和客戶忠誠度。

↑多元化業務組合

公司橫跨保險、鐵路、能源、製造和零售等多個行業，降低了單一市場波動的風險。這種多元化提供了穩定的現金流和抗風險能力。

↑卓越的資本配置

沃倫·巴菲特及其團隊展現了非凡的資本配置能力，透過戰略性收購和股票回購，持續為股東創造價值。這是一種難以複製的技能。

投資風險

↓宏觀經濟衰退

全球經濟放緩或衰退可能影響其多元化業務的盈利能力，特別是那些對經濟週期敏感的行業。

↓利率風險

利率的變動會影響其保險業務的投資組合收益以及債務融資成本，進而影響整體獲利能力。

↓重大收購整合風險

若未來進行大規模收購，整合失敗或未能實現預期協同效應，將對公司財務表現和股東價值造成負面影響。

做一次完整評估 →追蹤這檔股票

基準情形

BRK-B 基準情形 PE 估值

BRK-B 的基準情形 PE 估值估算每股公允價值約為 $532.83，目前股價為 $495.82。該模型假設盈餘年成長率 3.5%、目標 P/E 倍數 12.45x、折現率 10%。

內在價值

$532.83

安全邊際

+6.9%

預期年化報酬

+1.5%

基準情形假設：盈餘年成長率 3.5%、目標 P/E 倍數 12.45x、折現率 10%、預測 5 年。資料截至 2026-08-21。

本基準情形採用預設假設，不構成投資建議。當目標 PE 或盈餘成長率變化時，公允價值會顯著改變。開啟計算器可設定你自己的假設，並查看完整的敏感度區間。

自訂 BRK-B PE 估值

調整目標 PE、盈餘成長與折現率，查看 Berkshire Hathaway Inc. 的公允價值與安全邊際如何變化。

開啟 BRK-B PE 計算器

或試試 BRK-B DCF 估值 →

公司簡介

Berkshire Hathaway Inc., established in 1998 and headquartered in Omaha, Nebraska, operates as a vast global conglomerate with diverse business interests. Its core operations primarily encompass insurance, freight rail transportation, and utility services. The company provides a comprehensive suite of insurance and reinsurance products, including coverage for property, casualty, life, accident, and health. Across North America, it manages extensive railway networks dedicated to freight transport. Its utility division is responsible for generating, transmitting, storing, and distributing electricity sourced from various origins such as natural gas, coal, wind, solar, hydroelectric, nuclear, and geothermal energy. This segment also oversees natural gas infrastructure, including distribution networks, storage facilities, interstate pipelines, and liquefied natural gas (LNG) operations, alongside its interests in coal mining. Beyond these foundational sectors, Berkshire Hathaway boasts a significant manufacturing footprint. It produces a wide array of goods ranging from confectionery and specialty chemicals to metal cutting tools and components for both aerospace and power generation applications. Its manufacturing portfolio also extends to flooring products, insulation, roofing materials, engineered building components, paints, coatings, and bricks. The company is also involved in residential construction, offering both manufactured and site-built homes, supplemented by related lending and financial services. Its product offerings further include recreational vehicles, apparel, footwear, jewelry, custom picture framing, and alkaline batteries. On the industrial side, it manufactures specialized components like castings, forgings, fasteners, aerostructures, and precision parts, often utilizing advanced alloys such as cobalt, nickel, and titanium. Additionally, Berkshire Hathaway provides a variety of services, which include distributing electronic components, franchising and servicing quick-service restaurants, offering logistics, grocery, and foodservice distribution, as well as professional aviation training and shared aircraft ownership programs. Finally, the company maintains a substantial retail presence, selling an extensive selection of products such as automobiles, furniture, home appliances, electronics, computers, jewelry, and kitchenware, in addition to motorcycle clothing and equipment.

財務指標 — BRK-B PE 估值資料

PE Ratio (TTM)

12.5x

PEG Ratio

0.34

獲利收益率

8.03%

ROE (TTM)

11.9%

Revenue/Share (TTM)

$178.54

Debt/Equity

0.17x

常見問題

BRK-B 的本益比是多少？

BRK-B 的過去 12 個月本益比反映投資者為 Berkshire Hathaway Inc. 每一美元收益所支付的價格。該指標在與Insurance - Diversified同類公司和公司自身歷史區間對比時最有意義。

基於本益比，BRK-B 被高估了嗎？

BRK-B 的本益比 12.5x 結合 PEG 比率 0.34 提供了成長調整後的視角。PEG 低於 1.0 表明本益比相對於獲利成長率偏低。注意 PE 估值最適合獲利穩定的成熟公司——對於高成長或週期性Insurance - Diversified，DCF 分析可能更合適。

如何使用本益比對 BRK-B 進行估值？

對 Berkshire Hathaway Inc. 使用 PE 估值的步驟：(1) 將目前本益比 (12.5x)與Insurance - Diversified中位數對比評估相對定價，(2) 查看 PEG 比率 (0.34)以調整成長預期，(3) 參考 5 年 PE 歷史區間判斷目前位置，(4) 用目標 PE 乘以前瞻 EPS 估算公允價值。這種相對估值方法與 DCF 的絕對估值互為補充。

BRK-B 的 PEG 比率是多少？

BRK-B 的 PEG 比率為 0.34，由本益比（12.5x）除以預期獲利成長率計算。PEG 低於 1.0 意味著本益比相對於預期獲利成長率偏低。注意 PEG 的準確性取決於成長預期的可靠性。

對 BRK-B 應該使用 PE 還是 DCF 估值？

PE 本益比給出快速的相對定價——BRK-B 相對於Insurance - Diversified同類的估值水準。DCF 基於預期自由現金流提供絕對價值。建議用 PE 做快速篩選，用 DCF 做深度分析。兩種方法各有盲區：PE 忽略了資本結構和現金流品質，DCF 則對成長率和折現率假設非常敏感。

了解更多

查看 BRK-B DCF 估值 → — 透過折現現金流分析計算內在價值
PE 方法論 — PE 本益比估值分步指南
DCF 方法論 — 折現現金流分析指南
PE 本益比 — 理解本益比
內在價值 — 如何評估股票公允價值