Subject: New Morningstar fair value estimate
"We've increased our fair value estimate to $510 per Class B share from $487 to reflect changes in our forecasts for the company's operating businesses and insurance investment portfolio since our last update. Our fair value estimate is equivalent to 1.53 and 1.38 times our estimates for Berkshire's book value per share, respectively, at the end of 2025 and 2026. For some perspective, during the past five (10) years, the shares have traded at an average of 1.49 (1.46) times trailing calendar year-end book value per share."

https://www.morningstar.com/co...