From Morningstar: 2024-10-22 06:31:00

Morningstar has adjusted the fair value estimate for Berkshire Hathaway to $700,000 per Class A share and $467 per Class B share, while lowering the moat rating to narrow from wide. The estimate is based on a sum-of-the-parts methodology, valuing each operating segment separately. The company’s ability to generate excess returns has been impacted by challenges in the railroad and utilities/energy businesses, leading to a narrowed moat rating. Berkshire’s size and competition have also hindered potential significant value additions, impacting its future excess returns beyond the next decade.



Read more at Morningstar: Berkshire Hathaway Moat Rating Lowered