Berkshire Hathaway Inc. (BRK-B) 股票估值 — PE 分析
Insurance - Diversified · NYSE
当前价格
$544.11
市盈率（TTM）
13.6x
内在价值
$569.89
安全边际 +4.5%
竞争护城河
↑保险业务护城河
伯克希尔哈撒韦拥有强大的保险业务，通过其庞大的规模和卓越的承保能力，能够获得低成本的浮存金。这笔资金可用于长期投资，产生可观的回报。
↑多元化业务组合
公司拥有能源、铁路、制造和零售等多元化业务，能够分散风险并产生稳定的现金流。这种广泛的业务布局降低了对单一行业的依赖。
↑卓越的资本配置
沃伦·巴菲特和格雷格·阿贝尔在资本配置方面拥有卓越的声誉，能够识别并投资于具有长期价值的公司。这种能力为股东创造了持续的价值。
投资风险
↓领导层交接风险
尽管格雷格·阿贝尔已接任，但市场仍会密切关注其能否延续沃伦·巴菲特成功的投资策略和公司文化。
↓集中度风险
公司投资组合高度集中于少数几家“超级明星”股票，一旦这些股票表现不佳，将对整体业绩产生显著影响。
↓监管环境变化
保险和金融行业的监管政策变化可能对公司的运营和盈利能力带来不确定性。
基准情形
BRK-B 基准情形 PE 估值
BRK-B 的基准情形 PE 估值估算每股公允价值约为 $569.89，当前股价为 $544.11。该模型假设盈利年增长率 3.5%、目标 P/E 倍数 13.56x、折现率 10%。
内在价值
$569.89
安全边际
+4.5%
预期年化收益
+0.9%
基准情形假设：盈利年增长率 3.5%、目标 P/E 倍数 13.56x、折现率 10%、预测 5 年。数据截至 2026-10-28。
本基准情形采用默认假设，不构成投资建议。当目标 PE 或盈利增长率变化时，公允价值会显著改变。打开计算器可设置你自己的假设，并查看完整的敏感性区间。
公司简介
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.
财务指标 — BRK-B PE 估值数据
市盈率（TTM）
13.6x
PEG 比率
0.37
盈利收益率
7.37%
ROE (TTM)
11.9%
Revenue/Share (TTM)
$267887.88
Debt/Equity
0.17x
常见问题
BRK-B 的市盈率是多少？
BRK-B 的过去 12 个月市盈率反映投资者为 Berkshire Hathaway Inc. 每一美元收益所支付的价格。该指标在与Insurance - Diversified同类公司和公司自身历史区间对比时最有意义。
基于市盈率，BRK-B 被高估了吗？
BRK-B 的市盈率 13.6x 结合 PEG 比率 0.37 提供了增长调整后的视角。PEG 低于 1.0 表明市盈率相对于盈利增速偏低。注意 PE 估值最适合盈利稳定的成熟公司——对于高增长或周期性Insurance - Diversified，DCF 分析可能更合适。
如何使用市盈率对 BRK-B 进行估值？
对 Berkshire Hathaway Inc. 使用 PE 估值的步骤：(1) 将当前市盈率 (13.6x)与Insurance - Diversified中位数对比评估相对定价，(2) 查看 PEG 比率 (0.37)以调整增长预期，(3) 参考 5 年 PE 历史区间判断当前位置，(4) 用目标 PE 乘以前瞻 EPS 估算公允价值。这种相对估值方法与 DCF 的绝对估值互为补充。
BRK-B 的 PEG 比率是多少？
BRK-B 的 PEG 比率为 0.37，由市盈率（13.6x）除以预期盈利增速计算。PEG 低于 1.0 意味着市盈率相对于预期盈利增速偏低。注意 PEG 的准确性取决于增长预期的可靠性。
对 BRK-B 应该使用 PE 还是 DCF 估值？
PE 市盈率给出快速的相对定价——BRK-B 相对于Insurance - Diversified同类的估值水平。DCF 基于预期自由现金流提供绝对价值。建议用 PE 做快速筛选，用 DCF 做深度分析。两种方法各有盲区：PE 忽略了资本结构和现金流质量，DCF 则对增长率和折现率假设非常敏感。
了解更多
- 查看 BRK-B DCF 估值 → — 通过折现现金流分析计算内在价值
- PE 方法论 — PE 市盈率估值分步指南
- DCF 方法论 — 折现现金流分析指南
- PE 市盈率 — 理解市盈率
- 内在价值 — 如何评估股票公允价值
相关 PE 估值
查看全部 Financial Services 估值PE 与 DCF 使用不同的方法和假设为 BRK-B 估值，因此两者的结论可能不同。可对比 DCF 内在价值。
价格截至 2026-10-28。 财务数据来自 Financial Modeling Prep（过去 12 个月）· 估值方法论由 Charlie Wang 提供。
这是估计值，不构成投资建议。