Berkshire Hathaway Energy Company

Name: Berkshire Hathaway Energy Company financial statements and ratios
Creator: Annalist

Other, electric, gas & sanitary services · United States · US GAAP · Fiscal year ends December

Latest report: Q3 FY2026, the quarter ended 30 September 2026, released 9 November 2026. Snapshot FY2026Q3_cad6e1ea.

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Overview

Revenue, quarter

+6.9% year on year

Operating income, quarter

+20.7% year on year

Net income, quarter

+8.3% year on year

Diluted EPS, quarter

n/a

Operating margin, last 4 quarters

+1.5pp year on year

Return on equity, last 4 quarters

−0.2pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 30 September 2026 was US$7.7 billion, 6.9% higher than in the same quarter a year earlier.
Strengthenedin Q3 FY2026 · stated since Q1 FY20266.9% from 4.6% in Q2 FY2026
Rule: Revenue against a year earlier · Sources 10-Q 2026-09
History of this finding, 13 records
1. Q3 FY2026 StrengthenedRevenue for the quarter ended 30 September 2026 was US$7.7 billion, 6.9% higher than in the same quarter a year earlier.Recorded from FY2026Q3_cad6e1ea · data update
2. Q2 FY2026 ConfirmedRevenue for the quarter ended 30 June 2026 was US$6.7 billion, 4.6% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q1 FY2026 NewRevenue for the quarter ended 31 March 2026 was US$6.7 billion, 4.8% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q1 FY2026 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
5. Q4 FY2025 NewRevenue for the quarter ended 31 December 2025 was US$6.2 billion, 0.1% lower than in the same quarter a year earlier.Reconstructed · data update
6. Q4 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
7. Q3 FY2025 NewRevenue for the quarter ended 30 September 2025 was US$7.2 billion, 0.5% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q3 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
9. Q2 FY2025 NewRevenue for the quarter ended 30 June 2025 was US$6.4 billion, 0.2% lower than in the same quarter a year earlier.Reconstructed · data update
10. Q2 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
11. Q1 FY2025 WeakenedRevenue for the quarter ended 31 March 2025 was US$6.4 billion, 4.2% higher than in the same quarter a year earlier.Reconstructed · data update
12. Q4 FY2024 StrengthenedRevenue for the quarter ended 31 December 2024 was US$6.2 billion, 5.9% higher than in the same quarter a year earlier.Reconstructed · data update
13. Q3 FY2024 NewRevenue for the quarter ended 30 September 2024 was US$7.2 billion, 0.5% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$1.6 billion, 8.3% higher than in the same quarter a year earlier.
Weakenedin Q3 FY2026 · stated since Q2 FY20268.3% from 26.9% in Q2 FY2026
Rule: Net income against a year earlier · Sources 10-Q 2026-09
History of this finding, 11 records
1. Q3 FY2026 WeakenedNet income attributable to the company was US$1.6 billion, 8.3% higher than in the same quarter a year earlier.Recorded from FY2026Q3_cad6e1ea · data update
2. Q2 FY2026 NewNet income attributable to the company was US$891 million, 26.9% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q2 FY2026 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
4. Q1 FY2026 StrengthenedNet income attributable to the company was US$1.1 billion, 6.1% lower than in the same quarter a year earlier.Reconstructed · data update
5. Q4 FY2025 WeakenedNet income attributable to the company was US$691 million, 3.8% lower than in the same quarter a year earlier.Reconstructed · data update
6. Q3 FY2025 WeakenedNet income attributable to the company was US$1.5 billion, 24.6% lower than in the same quarter a year earlier.Reconstructed · data update
7. Q2 FY2025 NewNet income attributable to the company was US$702 million, 26.4% lower than in the same quarter a year earlier.Reconstructed · data update
8. Q2 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
9. Q1 FY2025 StrengthenedNet income attributable to the company was US$1.2 billion, 81.8% higher than in the same quarter a year earlier.Reconstructed · data update
10. Q4 FY2024 WeakenedNet income attributable to the company was US$718 million, 55.4% higher than in the same quarter a year earlier.Reconstructed · data update
11. Q3 FY2024 NewNet income attributable to the company was US$2.0 billion, 299.8% higher than in the same quarter a year earlier.Reconstructed · initial
The operating margin over the last 4 quarters was 20.2%, 1.5 percentage points higher than a year earlier.
Strengthenedin Q3 FY2026 · stated since Q3 FY2024
Rule: Operating margin against a year earlier · Sources 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03 and 2 more
History of this finding, 9 records
1. Q3 FY2026 StrengthenedThe operating margin over the last 4 quarters was 20.2%, 1.5 percentage points higher than a year earlier.Recorded from FY2026Q3_cad6e1ea · data update
2. Q2 FY2026 StrengthenedThe operating margin over the last 4 quarters was 19.4%, 0.3 percentage points higher than a year earlier.Reconstructed · data update
3. Q1 FY2026 WeakenedThe operating margin over the last 4 quarters was 18.6%, 0.1 percentage points higher than a year earlier.Reconstructed · data update
4. Q4 FY2025 WeakenedThe operating margin over the last 4 quarters was 18.5%, 1.7 percentage points higher than a year earlier.Reconstructed · data update
5. Q3 FY2025 WeakenedThe operating margin over the last 4 quarters was 18.7%, 2.7 percentage points higher than a year earlier.Reconstructed · data update
6. Q2 FY2025 StrengthenedThe operating margin over the last 4 quarters was 19.0%, 8.0 percentage points higher than a year earlier.Reconstructed · data update
7. Q1 FY2025 StrengthenedThe operating margin over the last 4 quarters was 18.5%, 6.6 percentage points higher than a year earlier.Reconstructed · data update
8. Q4 FY2024 StrengthenedThe operating margin over the last 4 quarters was 16.8%, 5.9 percentage points higher than a year earlier.Reconstructed · data update
9. Q3 FY2024 NewThe operating margin over the last 4 quarters was 16.0%, 4.4 percentage points higher than a year earlier.Reconstructed · initial
Return on equity over the last 4 quarters was 7.8%, against 8.0% a year earlier.
Weakenedin Q3 FY2026 · stated since Q3 FY2025
Rule: Return on equity against a year earlier · Sources 10-Q 2025-09, 10-Q 2026-09, 10-K 2025-12 and 3 more
History of this finding, 10 records
1. Q3 FY2026 WeakenedReturn on equity over the last 4 quarters was 7.8%, against 8.0% a year earlier.Recorded from FY2026Q3_cad6e1ea · data update
2. Q2 FY2026 WeakenedReturn on equity over the last 4 quarters was 7.8%, against 9.0% a year earlier.Reconstructed · data update
3. Q1 FY2026 StrengthenedReturn on equity over the last 4 quarters was 7.5%, against 9.7% a year earlier.Reconstructed · data update
4. Q4 FY2025 StrengthenedReturn on equity over the last 4 quarters was 7.8%, against 8.7% a year earlier.Reconstructed · data update
5. Q3 FY2025 NewReturn on equity over the last 4 quarters was 8.0%, against 8.3% a year earlier.Reconstructed · data update
6. Q3 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
7. Q2 FY2025 ConfirmedReturn on equity over the last 4 quarters was 9.0%, against 5.2% a year earlier.Reconstructed · data update
8. Q1 FY2025 StrengthenedReturn on equity over the last 4 quarters was 9.7%, against 5.5% a year earlier.Reconstructed · data update
9. Q4 FY2024 StrengthenedReturn on equity over the last 4 quarters was 8.7%, against 6.3% a year earlier.Reconstructed · data update
10. Q3 FY2024 NewReturn on equity over the last 4 quarters was 8.3%, against 7.1% a year earlier.Reconstructed · initial
Purchases of property, plant and equipment exceeded operating cash flow by US$1.6 billion over the last 4 quarters.
Interpretation. The company spent more on capital expenditure than its operating cash flow, and paid the difference from cash, borrowing or asset sales.
Weakenedin Q3 FY2026 · stated since Q3 FY2024
Rule: Free cash flow · Sources 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03 and 2 more
History of this finding, 9 records
1. Q3 FY2026 WeakenedPurchases of property, plant and equipment exceeded operating cash flow by US$1.6 billion over the last 4 quarters.Recorded from FY2026Q3_cad6e1ea · data update
2. Q2 FY2026 WeakenedPurchases of property, plant and equipment exceeded operating cash flow by US$2.3 billion over the last 4 quarters.Reconstructed · data update
3. Q1 FY2026 StrengthenedPurchases of property, plant and equipment exceeded operating cash flow by US$3.2 billion over the last 4 quarters.Reconstructed · data update
4. Q4 FY2025 StrengthenedPurchases of property, plant and equipment exceeded operating cash flow by US$2.2 billion over the last 4 quarters.Reconstructed · data update
5. Q3 FY2025 WeakenedPurchases of property, plant and equipment exceeded operating cash flow by US$1.1 billion over the last 4 quarters.Reconstructed · data update
6. Q2 FY2025 StrengthenedPurchases of property, plant and equipment exceeded operating cash flow by US$1.3 billion over the last 4 quarters.Reconstructed · data update
7. Q1 FY2025 WeakenedPurchases of property, plant and equipment exceeded operating cash flow by US$511 million over the last 4 quarters.Reconstructed · data update
8. Q4 FY2024 WeakenedPurchases of property, plant and equipment exceeded operating cash flow by US$571 million over the last 4 quarters.Reconstructed · data update
9. Q3 FY2024 NewPurchases of property, plant and equipment exceeded operating cash flow by US$1.4 billion over the last 4 quarters.Reconstructed · initial

Records before Q3 FY2026 are reconstructed from the latest snapshot. Ledger: findings.json.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents28 documents, latest Form 10-Q, period ended 30 September 2026List

DownloadsExcel workbook · JSON · Brief for AI

SnapshotFY2026Q3_cad6e1ea

Corporate Events

Acquisition or disposal1 September 2023
Completed an acquisition or disposition of assets.
Source 8-K 2023-09

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Operating Income

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

Q3 FY2026

Form 10-Q, period ended 30 September 2026, filed 9 November 2026. Changes are against the previous report, and each figure shows its period.

6changes1threshold crossed

Changes in This Report 6

StrengthenedRevenue Against a Year Earlier10-Q 2026-09
Revenue for the quarter ended 30 September 2026 was US$7.7 billion, 6.9% higher than in the same quarter a year earlier.
Earlier record, Q2 FY2026
Revenue for the quarter ended 30 June 2026 was US$6.7 billion, 4.6% higher than in the same quarter a year earlier.
WeakenedNet Income Against a Year Earlier10-Q 2026-09
Net income attributable to the company was US$1.6 billion, 8.3% higher than in the same quarter a year earlier.
Earlier record, Q2 FY2026
Net income attributable to the company was US$891 million, 26.9% higher than in the same quarter a year earlier.
StrengthenedOperating Margin Against a Year Earlier10-Q 2026-09
The operating margin over the last 4 quarters was 20.2%, 1.5 percentage points higher than a year earlier.
Earlier record, Q2 FY2026
The operating margin over the last 4 quarters was 19.4%, 0.3 percentage points higher than a year earlier.
WeakenedReturn on Equity Against a Year Earlier10-Q 2026-09
Return on equity over the last 4 quarters was 7.8%, against 8.0% a year earlier.
Earlier record, Q2 FY2026
Return on equity over the last 4 quarters was 7.8%, against 9.0% a year earlier.

2 more changes

WeakenedFree Cash Flow10-Q 2026-09
Purchases of property, plant and equipment exceeded operating cash flow by US$1.6 billion over the last 4 quarters.
Earlier record, Q2 FY2026
Purchases of property, plant and equipment exceeded operating cash flow by US$2.3 billion over the last 4 quarters.
NewLiquidity Cover10-Q 2026-09
Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.1 times the sum of debt due within 12 months, capital expenditure and dividends.
Earlier record, Q2 FY2026
Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.0 times the sum of debt due within 12 months, capital expenditure and dividends.

Thresholds Crossed 1

WeakenedFree Cash Flow
Purchases of property, plant and equipment exceeded operating cash flow by US$1.6 billion over the last 4 quarters.
Interpretation. The company spent more on capital expenditure than its operating cash flow, and paid the difference from cash, borrowing or asset sales.

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsLease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

These ratios are not computed for this company; the method below gives the reason.

Method

Not computed: at 31 December 2025 the debt maturity schedule reports debt that the balance sheet items do not capture, so total debt is incomplete.
Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.

Liquidity and MaturitiesLiquidity cover 1.07x, Debt due within 12 months $1.5bn · Q3 FY2026

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends, with the debt maturities of the latest annual report.

Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.1 times the sum of debt due within 12 months, capital expenditure and dividends.
Interpretation. Cash on hand and 1 year of operating cash flow pay for the debt due in the next 12 months, capital expenditure and dividends, without new borrowing. Undrawn credit lines are not counted.
Newin Q3 FY2026 · first stated
Rule: Liquidity cover · Sources 10-Q 2026-09, 10-K 2025-12, 10-Q 2025-09 and 2 more
History of this finding, 10 records
1. Q3 FY2026 NewCash, short-term investments and operating cash flow over the last 4 quarters equalled 1.1 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q3_cad6e1ea · data update
2. Q3 FY2026 RetiredThe finding changed to sources of cash that cover the uses.Recorded from FY2026Q3_cad6e1ea · data update
3. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 1.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
4. Q1 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.9 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
5. Q3 FY2025 ConfirmedCash, short-term investments and operating cash flow over the 4 quarters ended 30 September 2025 equalled 0.8 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · restatement
6. Q3 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.8 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
7. Q2 FY2025 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.8 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
8. Q1 FY2025 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.9 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
9. Q3 FY2024 ConfirmedCash, short-term investments and operating cash flow over the 4 quarters ended 30 September 2024 equalled 0.7 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · restatement
10. Q3 FY2024 NewCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.7 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · initial

Sources and Uses, Last 4 Quarters to Q3 FY2026

Sources	Amount
Cash and short-term investments	$3.9bn
Operating cash flow	$9.0bn
Sources	$12.9bn

Uses	Amount
Debt due within 12 months	$1.5bn
Capital expenditure	$10.6bn
Dividends paid	$0
Uses	$12.1bn

Liquidity cover 1.07x

Debt Maturities at 31 December 2025

Principal due by fiscal year, US dollars

FY2026	FY2027	FY2028	FY2029	FY2030	After FY2030	Total
$1.5bn	$884m	$1.3bn	$3.3bn	$2.3bn	$48.3bn	$57.5bn

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q3 FY2026latest quarter
Liquidity coverCash on hand plus a year of operating cash flow, against the cash needed in the next 12 months for maturing debt, capital spending and dividends. Above 1, these sources cover the uses without new borrowing.(Cash + short-term investments + operating cash flow) / (debt due within 12 months + capital expenditure + dividends); the flows of the fiscal year or of the last 4 quarters are taken as those of the next 12 months, and undrawn facilities are not included	n/a	n/a	n/a	n/a	n/a
Debt due within 12 monthsBorrowings due within the next 12 months, which the company must repay or refinance.The larger of long-term debt maturing within 12 months in the maturity schedule and the current portion of long-term debt, + short-term borrowings	n/a	n/a	n/a	n/a	n/a
Maturity concentrationThe largest amount of debt due in a single year of the next 5, as a share of the debt in the schedule. A high share means the repayments are concentrated in 1 year.Largest single year of debt maturing within 5 years / total debt in the maturity schedule						n/a

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityCash-flow accruals −3.1%, Operating cash flow to EBITDA 0.90x · Q3 FY2026

Accruals and the cash backing of reported earnings.

Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.1% of average total assets.
Interpretation. The profit came in as cash: operating cash flow was larger than net income. Profit backed by cash tends to repeat more than profit made of accounting entries (Sloan, 1996).
Confirmedin Q3 FY2026 · stated since Q3 FY2024−3.1% from −3.0% in Q2 FY2026
Rule: Cash backing of earnings · Sources 10-Q 2025-09, 10-Q 2026-09, 10-K 2025-12 and 2 more
History of this finding, 9 records
1. Q3 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.1% of average total assets.Recorded from FY2026Q3_cad6e1ea · data update
2. Q2 FY2026 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.0% of average total assets.Reconstructed · data update
3. Q1 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.5% of average total assets.Reconstructed · data update
4. Q4 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.0% of average total assets.Reconstructed · data update
5. Q3 FY2025 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.6% of average total assets.Reconstructed · data update
6. Q2 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.5% of average total assets.Reconstructed · data update
7. Q1 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.6% of average total assets.Reconstructed · data update
8. Q4 FY2024 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.0% of average total assets.Reconstructed · data update
9. Q3 FY2024 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.5% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Balance sheet accrualsThe same gap between profit and cash, measured from the changes in the balance sheet (Sloan, 1996).[(Change in current assets - change in cash) - (change in current liabilities - change in short-term debt - change in taxes payable) - depreciation and amortisation] / average total assets (Sloan, 1996)	n/a	n/a	n/a	n/a	n/a
Operating cash flow to EBITDAOperating cash flow against EBITDA: the part of operating profit before depreciation that turns into cash after interest, tax and changes in stock, receivables and payables.Operating cash flow / (operating income + depreciation and amortisation)
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresAltman Z'' 1.87, Last 4 quarters 2.18 at Q3 FY2026 · FY2025

Published distress and misstatement models, with their original coefficients and thresholds.

The Altman Z'' score for fiscal 2025 was 1.87, between the distress threshold of 1.10 and the safe threshold of 2.60.
Interpretation. By this model, the company is between the 2 groups of its original study: below 1.10 the profile resembles companies that went bankrupt, above 2.60 companies that did not. Large share buybacks lower book equity and so lower the score.
Confirmedin FY2025 · stated since FY20231.87 from 1.81 in FY2024
Rule: Altman Z'' zone · Sources 10-Q 2026-09, 10-K 2025-12
History of this finding, 3 records
1. FY2025 ConfirmedThe Altman Z'' score for fiscal 2025 was 1.87, between the distress threshold of 1.10 and the safe threshold of 2.60.Reconstructed · data update
2. FY2024 ConfirmedThe Altman Z'' score for fiscal 2024 was 1.81, between the distress threshold of 1.10 and the safe threshold of 2.60.Reconstructed · data update
3. FY2023 NewThe Altman Z'' score for fiscal 2023 was 1.63, between the distress threshold of 1.10 and the safe threshold of 2.60.Reconstructed · initial

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q3 FY2026latest quarter
Altman Z'' scoreA measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.6.56 x working capital / total assets + 3.26 x retained earnings / total assets + 6.72 x EBIT / total assets + 1.05 x total equity / total liabilities (Altman, 1995); distress zone below 1.10, safe zone above 2.60	grey zone	grey zone	grey zone	grey zone	grey zone	grey zone

Altman Z'' Score

fiscal 2025

A measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.

Distress zone, below 1.10

1.87Grey zone, 1.10 to 2.60

Safe zone, above 2.60

The score of 1.87 is in the grey zone of the model, between 1.10 and 2.60. The largest part is retained earnings, at 1.11; working capital below zero lowers the score by 0.08.

Part	Value	Coefficient	Contribution
Working capital / total assetsCurrent assets less current liabilities, against total assets: the short-term funds available for operations.	−0.012	6.560	−0.078
Retained earnings / total assetsProfits kept in the business over its life, against total assets.	0.339	3.260	1.107
EBIT / total assetsOperating profit against total assets: the earning power of the assets.	0.033	6.720	0.220
Total equity / total liabilitiesBook equity against liabilities: how far the assets could fall in value before liabilities exceed them.	0.595	1.050	0.624
Score			1.873

Altman, Hartzell and Peck (1995), for non-manufacturing companies. The model omits the ratio of sales to total assets of the 1968 model and uses book equity. Working capital below zero and equity reduced by share repurchases lower the score.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 30 September 2026	9 Nov 2026	10-Q:0001081316-26-000026
Form 10-Q, period ended 30 June 2026	10 Aug 2026	10-Q:0001081316-26-000017
Form 10-Q, period ended 31 March 2026	4 May 2026	10-Q:0001081316-26-000013
Form 10-K, period ended 31 December 2025	2 Mar 2026	10-K:0001081316-26-000003
Form 10-Q, period ended 30 September 2025	3 Nov 2025	10-Q:0001081316-25-000022
Form 10-Q, period ended 30 June 2025	4 Aug 2025	10-Q:0001081316-25-000013
Form 10-Q, period ended 31 March 2025	5 May 2025	10-Q:0001081316-25-000010
Form 10-K, period ended 31 December 2024	24 Feb 2025	10-K:0001081316-25-000004
Form 10-Q, period ended 30 September 2024	4 Nov 2024	10-Q:0001081316-24-000022
Form 10-Q, period ended 30 June 2024	5 Aug 2024	10-Q:0001081316-24-000016
Form 10-Q, period ended 31 March 2024	6 May 2024	10-Q:0001081316-24-000010
Form 10-K, period ended 31 December 2023	26 Feb 2024	10-K:0001081316-24-000003
Form 10-Q, period ended 30 September 2023	6 Nov 2023	10-Q:0001081316-23-000032
Form 8-K, period ended 1 September 2023	1 Sep 2023	8-K:0001193125-23-227676
Form 10-Q, period ended 30 June 2023	7 Aug 2023	10-Q:0001081316-23-000028
Form 10-Q, period ended 31 March 2023	8 May 2023	10-Q:0001081316-23-000020
Form 10-K, period ended 31 December 2022	27 Feb 2023	10-K:0001081316-23-000005
Form 10-Q, period ended 30 September 2022	7 Nov 2022	10-Q:0001081316-22-000046
Form 10-Q, period ended 30 June 2022	8 Aug 2022	10-Q:0001081316-22-000025
Form 10-Q, period ended 31 March 2022	2 May 2022	10-Q:0001081316-22-000020
Form 10-K, period ended 31 December 2021	28 Feb 2022	10-K:0001081316-22-000004
Form 10-Q, period ended 30 September 2021	8 Nov 2021	10-Q:0001081316-21-000037
Form 10-Q, period ended 30 June 2021	9 Aug 2021	10-Q:0001081316-21-000029
Form 10-Q, period ended 31 March 2021	3 May 2021	10-Q:0001081316-21-000019
Form 10-K, period ended 31 December 2020	1 Mar 2021	10-K:0001081316-21-000011
Form 10-Q, period ended 30 September 2020	9 Nov 2020	10-Q:0001081316-20-000026
Form 10-Q, period ended 30 June 2020	7 Aug 2020	10-Q:0001081316-20-000022
Form 10-Q, period ended 31 March 2020	4 May 2020	10-Q:0001081316-20-000019

Checks

262250 of 262 checks passed, 12 warnings

Fiscal calendar70 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year92 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level.

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity27 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Balance sheet structure27 passedTotal assets equal liabilities, temporary equity and total equity. Checked at warning level.

Lease liabilities6 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

Debt maturities0 of 6 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.

31 Dec 2020: $49,759m against $1,839m

31 Dec 2021: $49,746m against $1,265m

31 Dec 2022: $51,702m against $3,201m

31 Dec 2023: $52,313m against $2,740m

31 Dec 2024: $55,471m against $2,646m

31 Dec 2025: $57,526m against $1,455m

Quarters and 9 months21 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Interest and debt0 of 6 passedInterest expense of a fiscal year is between 0.5% and 15% of the average total debt at its opening and closing dates, so that the debt captured carries the interest reported. Checked at warning level.

FY2020: interest expense equals 49.0% of average total debt

FY2021: interest expense equals 57.3% of average total debt

FY2022: interest expense equals 58.4% of average total debt

FY2023: interest expense equals 43.1% of average total debt

FY2024: interest expense equals 51.0% of average total debt

FY2025: interest expense equals 78.1% of average total debt

Primary statements6 passedEach key figure of the latest fiscal year is a line of the income statement, the balance sheet or the cash flow statement of the annual report. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	1,166
Confirmed by other figures	49.5%, 577 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	14.8%, 172 values
Values withheld	0
Restated figures tracked	1
Changes compared on one basis	0
Company lines mapped	0 of 0 reviewed

Citation

Annalist, Berkshire Hathaway Energy Company, snapshot berkshire-hathaway-energy/FY2026Q3_cad6e1ea (as of FY2026 Q3); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026Q3_cad6e1ea · dataset SHA-256 cad6e1eafb3b71bedac15ef409c1ed66d1b55b708a0098794f11869145c50182 · findings rules 0.5

Data: info.json · dataset.json · validation.json · documents.json