Berkshire Hathaway Inc. (BRK-B) 股票估值 — PE 分析
Insurance - Diversified · NYSE
当前价格
$507.49
市盈率（TTM）
15.1x
内在价值
$513.03
安全边际 +1.1%
竞争护城河
↑保险业务规模
伯克希尔哈撒韦拥有庞大的保险业务组合，如GEICO和General Re，这带来了显著的规模经济和定价能力。
↑多元化经营
公司业务横跨保险、铁路、能源、制造等多个领域，降低了单一行业风险，并创造了协同效应。
↑投资组合价值
伯克希尔哈撒韦持有的优质股票投资组合，如苹果和Alphabet，为其提供了稳定的现金流和资本增值潜力。
投资风险
↓继承人风险
沃伦·巴菲特的领导地位和投资决策对公司至关重要，其继任者格雷格·阿贝尔能否复制其成功存在不确定性。
↓宏观经济波动
利率变动、通货膨胀和经济衰退等宏观经济因素可能影响其保险业务的承保利润和投资组合的价值。
↓大型投资风险
对单一公司（如Alphabet）的大额投资可能带来集中风险，若该投资表现不佳，将对公司整体业绩产生重大影响。
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 $513.03，当前股价为 $507.49。该模型假设盈利年增长率 3.5%、目标 P/E 倍数 15x、折现率 10%。
内在价值
$513.03
安全边际
+1.1%
预期年化收益
+0.2%
基准情形假设：盈利年增长率 3.5%、目标 P/E 倍数 15x、折现率 10%、预测 5 年。数据截至 2026-07-30。
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）
15.1x
PEG 比率
n/m
盈利收益率
6.62%
ROE (TTM)
10.3%
Revenue/Share (TTM)
$174.02
Debt/Equity
0.20x
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 15.1x 结合 PEG 比率 -1.44 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。
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 (15.1x)与Insurance - Diversified中位数对比评估相对定价，(2) 查看 PEG 比率 (-1.44)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 -1.44，由市盈率（15.1x）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。
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 2026-07-30。 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。