vs
Side-by-side financial comparison of Berkshire Hathaway (BRK.B) and Centene Corporation (CNC). Click either name above to swap in a different company.
Berkshire Hathaway is the larger business by last-quarter revenue ($62.7B vs $44.7B, roughly 1.4× Centene Corporation). Berkshire Hathaway runs the higher net margin — 30.6% vs -2.5%, a 33.1% gap on every dollar of revenue. On growth, Centene Corporation posted the faster year-over-year revenue change (23.2% vs -0.2%). Berkshire Hathaway produced more free cash flow last quarter ($5.0B vs $224.0M). Over the past eight quarters, Centene Corporation's revenue compounded faster (10.9% CAGR vs 1.2%).
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger. Greg Abel succeeded Buffett as CEO at the beginning of 2026. Buffett personally owns 38.4% of the Class A voting shares of Berkshire Hathaway, representing a 15.
Centene Corporation is an American for-profit healthcare company based in the Greater St. Louis area, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 23 on the 2025 Fortune 500.
BRK.B vs CNC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $62.7B | $44.7B |
| Net Profit | $19.2B | $-1.1B |
| Gross Margin | — | 5.7% |
| Operating Margin | 39.0% | -3.9% |
| Net Margin | 30.6% | -2.5% |
| Revenue YoY | -0.2% | 23.2% |
| Net Profit YoY | -2.5% | -489.0% |
| EPS (diluted) | — | $-2.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $62.7B | $44.7B | ||
| Q3 25 | $63.7B | $44.9B | ||
| Q2 25 | $61.4B | $42.5B | ||
| Q1 25 | $59.4B | $42.5B | ||
| Q4 24 | $62.9B | $36.3B | ||
| Q3 24 | $62.0B | $36.9B | ||
| Q2 24 | $63.5B | $36.0B | ||
| Q1 24 | $61.3B | $36.3B |
| Q4 25 | $19.2B | $-1.1B | ||
| Q3 25 | $30.8B | $-6.6B | ||
| Q2 25 | $12.4B | $-253.0M | ||
| Q1 25 | $4.6B | $1.3B | ||
| Q4 24 | $19.7B | $283.0M | ||
| Q3 24 | $26.3B | $713.0M | ||
| Q2 24 | $30.3B | $1.1B | ||
| Q1 24 | $12.7B | $1.2B |
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 10.5% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 13.0% |
| Q4 25 | 39.0% | -3.9% | ||
| Q3 25 | 59.8% | -15.5% | ||
| Q2 25 | 24.0% | -1.1% | ||
| Q1 25 | 8.7% | 3.6% | ||
| Q4 24 | 38.2% | 0.5% | ||
| Q3 24 | 52.4% | 1.8% | ||
| Q2 24 | 60.0% | 3.4% | ||
| Q1 24 | 25.6% | 3.0% |
| Q4 25 | 30.6% | -2.5% | ||
| Q3 25 | 48.3% | -14.8% | ||
| Q2 25 | 20.1% | -0.6% | ||
| Q1 25 | 7.8% | 3.1% | ||
| Q4 24 | 31.3% | 0.8% | ||
| Q3 24 | 42.3% | 1.9% | ||
| Q2 24 | 47.8% | 3.2% | ||
| Q1 24 | 20.7% | 3.2% |
| Q4 25 | — | $-2.15 | ||
| Q3 25 | — | $-13.50 | ||
| Q2 25 | — | $-0.51 | ||
| Q1 25 | — | $2.63 | ||
| Q4 24 | — | $0.63 | ||
| Q3 24 | — | $1.36 | ||
| Q2 24 | — | $2.16 | ||
| Q1 24 | — | $2.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $20.3B |
| Total DebtLower is stronger | — | $17.5B |
| Stockholders' EquityBook value | $717.4B | $20.0B |
| Total Assets | $1222.2B | $76.7B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.3B | ||
| Q3 25 | — | $19.2B | ||
| Q2 25 | — | $17.3B | ||
| Q1 25 | — | $17.3B | ||
| Q4 24 | — | $16.7B | ||
| Q3 24 | — | $17.6B | ||
| Q2 24 | — | $20.2B | ||
| Q1 24 | — | $19.7B |
| Q4 25 | — | $17.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $717.4B | $20.0B | ||
| Q3 25 | $698.2B | $20.9B | ||
| Q2 25 | $668.0B | $27.4B | ||
| Q1 25 | $654.5B | $27.9B | ||
| Q4 24 | $649.4B | $26.4B | ||
| Q3 24 | $629.1B | $27.3B | ||
| Q2 24 | $601.7B | $27.4B | ||
| Q1 24 | $571.5B | $27.0B |
| Q4 25 | $1222.2B | $76.7B | ||
| Q3 25 | $1226.0B | $82.1B | ||
| Q2 25 | $1164.0B | $86.4B | ||
| Q1 25 | $1164.5B | $87.0B | ||
| Q4 24 | $1153.9B | $82.4B | ||
| Q3 24 | $1147.3B | $82.4B | ||
| Q2 24 | $1108.9B | $83.1B | ||
| Q1 24 | $1070.0B | $82.6B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.2B | $437.0M |
| Free Cash FlowOCF − Capex | $5.0B | $224.0M |
| FCF MarginFCF / Revenue | 8.0% | 0.5% |
| Capex IntensityCapex / Revenue | 9.9% | 0.5% |
| Cash ConversionOCF / Net Profit | 0.58× | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.0B | $4.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.2B | $437.0M | ||
| Q3 25 | $13.8B | $1.4B | ||
| Q2 25 | $10.1B | $1.8B | ||
| Q1 25 | $10.9B | $1.5B | ||
| Q4 24 | $4.6B | $-587.0M | ||
| Q3 24 | $1.8B | $-978.0M | ||
| Q2 24 | $13.6B | $2.2B | ||
| Q1 24 | $10.6B | $-456.0M |
| Q4 25 | $5.0B | $224.0M | ||
| Q3 25 | $8.2B | $1.1B | ||
| Q2 25 | $5.2B | $1.6B | ||
| Q1 25 | $6.6B | $1.4B | ||
| Q4 24 | $-726.0M | $-741.0M | ||
| Q3 24 | $-2.9B | $-1.1B | ||
| Q2 24 | $9.1B | $2.0B | ||
| Q1 24 | $6.2B | $-607.0M |
| Q4 25 | 8.0% | 0.5% | ||
| Q3 25 | 12.9% | 2.6% | ||
| Q2 25 | 8.5% | 3.7% | ||
| Q1 25 | 11.2% | 3.2% | ||
| Q4 24 | -1.2% | -2.0% | ||
| Q3 24 | -4.7% | -3.1% | ||
| Q2 24 | 14.3% | 5.5% | ||
| Q1 24 | 10.1% | -1.7% |
| Q4 25 | 9.9% | 0.5% | ||
| Q3 25 | 8.8% | 0.5% | ||
| Q2 25 | 7.9% | 0.5% | ||
| Q1 25 | 7.2% | 0.3% | ||
| Q4 24 | 8.5% | 0.4% | ||
| Q3 24 | 7.6% | 0.4% | ||
| Q2 24 | 7.1% | 0.5% | ||
| Q1 24 | 7.2% | 0.4% |
| Q4 25 | 0.58× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.82× | — | ||
| Q1 25 | 2.37× | 1.15× | ||
| Q4 24 | 0.23× | -2.07× | ||
| Q3 24 | 0.07× | -1.37× | ||
| Q2 24 | 0.45× | 1.90× | ||
| Q1 24 | 0.83× | -0.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRK.B
| Grocery And Convenience Store Distribution | $7.9B | 13% |
| Manufactured Industrial And Commercial Products | $7.5B | 12% |
| Berkshire Hathaway Energy Company | $6.0B | 10% |
| Railroad Utilities And Energy | $6.0B | 9% |
| Burlington Northern Santa Fe Corporation | $5.9B | 9% |
| Electricity And Natural Gas | $5.1B | 8% |
| Manufactured Building Products | $4.8B | 8% |
| Food And Beverage | $4.7B | 8% |
| Consumer Products | $4.7B | 7% |
| Investments Segment | $4.0B | 6% |
| Auto Sales | $2.8B | 5% |
| Other | $2.5B | 4% |
| Other Retail And Wholesale Distribution | $972.0M | 2% |
CNC
| Total Premium And Service | $23.0B | 52% |
| Commercial Segment | $10.8B | 24% |
| Medicare Segment | $9.6B | 21% |
| Services | $749.0M | 2% |
