The Berkshire Archive

2020

Index Book About

Berkshire Hathaway · Year by year

2020

Annual percentage change
Measure 2020
Per-share book value of Berkshire 9.8
Market value of Berkshire 2.4
S&P 500 with dividends included 18.4
Where 2020’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash29.9
  • Fixed income4.5
  • Common stocks66.1
  • Utility, energy, rail24.7
  • Other net assets30.9

Funded by

  • Net worth100.0
  • Debt9.2
  • Insurance float30.6
  • Deferred tax float16.4
What the company was made of — percent of net worth. Every dollar of net worth carried $1.56 of assets.

Note: figures in parentheses are losses. Source: Berkshire Hathaway annual reports.

What happened

The 2020 letter The 2020 meeting

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