Insurance - Diversified · NYSE
当前价格
$489.25
PE Ratio (TTM)
14.6x
内在价值
$538.58
安全边际 +9.2%
竞争护城河
↑保险业务
伯克希尔哈撒韦拥有强大的保险业务,包括GEICO和General Re等子公司,这为其提供了稳定的现金流和低成本的浮存金,可用于投资。
↑多元化投资
公司通过广泛的股权投资和对众多非保险业务的控股,实现了高度的多元化,降低了单一行业或资产的风险。
↑品牌声誉
沃伦·巴菲特和查理·芒格的卓越声誉为伯克希尔哈撒韦带来了巨大的信任度和吸引力,有助于其吸引顶尖人才和优质投资机会。
投资风险
↓接班人风险
沃伦·巴菲特和查理·芒格的长期领导地位是公司成功的关键,其接班人的能力和市场认可度存在不确定性。
↓利率风险
作为大型投资组合的管理者,利率的变动会影响其投资组合的价值和收益,尤其是在低利率环境下。
↓监管风险
保险和金融服务行业受到严格监管,政策变化可能对公司的运营和盈利能力产生不利影响。
基准情形
BRK-B 的基准情形 PE 估值估算每股公允价值约为 $538.58,当前股价为 $489.25。该模型假设盈利年增长率 4.7%、目标 P/E 倍数 15x、折现率 10%。
内在价值
$538.58
安全边际
+9.2%
预期年化收益
+1.9%
基准情形假设:盈利年增长率 4.7%、目标 P/E 倍数 15x、折现率 10%、预测 5 年。数据截至 2026-06-12。
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。
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.
PE Ratio (TTM)
14.6x
PEG Ratio
n/m
Earnings Yield
6.87%
ROE (TTM)
10.3%
Revenue/Share (TTM)
$174.02
Debt/Equity
0.20x
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。
BRK-B 的市盈率 14.6x 结合 PEG 比率 -1.39 提供了增长调整后的视角。BRK-B 盈利为负,市盈率和 PEG 比率此时均无意义,无法判断股票被高估还是低估。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。
对 Berkshire Hathaway Inc. 使用 PE 估值的步骤:(1) 将当前市盈率 (14.6x)与Insurance - Diversified中位数对比评估相对定价,(2) 查看 PEG 比率 (-1.39)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 比率为 -1.39,由市盈率(14.6x)除以预期盈利增速计算。由于 BRK-B 盈利为负,其 PEG 比率没有意义,不应被解读为低估或高估的信号。注意 PEG 的准确性取决于增长预期的可靠性。
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。
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 2026-06-12。 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。