Post #8725 by Dagdom on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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Who knows how the litigation will turn out so that is certainly a source of worry but I think there are reasons to look more favorably at the valuation of BHE than what recent earnings would suggest

Slide 12 and 13 of the most recent fixed income slide pack gives an idea of the huge amounts of expansion capex that has been plowed back into this business over the past several years

Then there is also the purchase of Mr Abel’s shares in 2022 for an implied valuation of some 87 billion. Berkshire owns 92%

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I think there are reasons to look more favorably at the valuation of BHE than what recent earnings would suggest...

Seems reasonable.

For whatever it's worth, these are the trailing-four-quarter net earnings at BHE as reported, and the same figures with the addition of my two adjustments to 2023-Q1 and 2023-Q1.
Gives an interesting insight when graphed...some gentle roll-off lately, but not a plummet.

TTM...     True   Jim's
2019-Q4   2,840   2,840
2020-Q1   2,796   2,796
2020-Q2   2,822   2,822
2020-Q3   3,039   3,039
2020-Q4   3,141   3,141
2021-Q1   3,283   3,283
2021-Q2   3,390   3,390
2021-Q3   3,491   3,491
2021-Q4   3,572   3,572
2022-Q1   3,619   3,619
2022-Q2   3,693   3,693
2022-Q3   3,798   3,798
2022-Q4   3,904   3,904
2023-Q1   3,570   3,888
2023-Q2   3,685   4,003
2023-Q3   2,438   3,899
2023-Q4   2,331   3,792
2024-Q1   2,632   3,775
2024-Q2   2,496   3,639

Jim

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