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Compare Stocks › BRK-B vs NI

Berkshire Hathaway Inc. (BRK-B) vs NiSource Inc. (NI)

BRK-B
Berkshire Hathaway Inc.
$473.01
VS
NI
NiSource Inc.
$48.08

Rewards

BRK-B
  • ★Each dollar of retained earnings has created $3.95 of earning power — management is an exceptional capital allocator.
  • ★PEG ratio of 0.13 suggests the stock is undervalued relative to its growth rate — paying less than 1x for each unit of earnings growth.
  • ★Net debt/EBITDA of -2.3x means the company holds more cash than debt — a net cash position.
NI
  • ★Each dollar of retained earnings has created $1.50 of earning power — management is creating shareholder value.

Risks

BRK-B
  • ⚠FCF yield of 6.0% suggests reasonable valuation assuming continued moderate growth.
  • ⚠Trailing P/E of 15.2x is 72% above the historical average of 8.9x — the stock trades at a premium to its own history.
NI
  • ⚠NiSource Inc. scores only 24/100 on the Economic Moat Score, suggesting limited durable competitive advantages.
  • ⚠Despite buyback spending, shares outstanding increased in 2 out of 2 years — stock-based compensation is offsetting repurchases.
  • ⚠Trailing P/E of 24.7x is 31% above the historical average of 18.9x — the stock trades at a premium to its own history.

Key Valuation Metrics

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BRK-B
NI
Valuation
$61.23B
Free Cash Flow
$-1.12B
6.00%
FCF Yield
-4.85%
15.24
Trailing P/E
24.66
21.95
Forward P/E
21.53
Quality & Moat
4.96%
ROIC
5.07%
9.18%
ROE
7.97%
27.78%
Gross Margin
50.61%
0.13
PEG Ratio
2.22
Balance Sheet Safety
0.18
Debt / Equity
1.39
N/A
Interest Coverage
N/A
-2.28
Net Debt / EBITDA
5.59
N/A
Dividend Yield
2.50%
BRK-B: 7Ties: 3NI: 1
BRK-BNI

Historical Fundamentals

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BRK-B

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.

NI

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.

$1 Retained Earnings Test

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BRK-B
$1.66
created per $1 retained over 3 years
Value Creator
Σ Retained
$252.19B
Δ Market Cap
+$417.89B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
NI
$9.36
created per $1 retained over 3 years
Exceptional Value Creator
Σ Retained
$927.3M
Δ Market Cap
+$8.68B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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BRK-B
31.0% Margin of Safety
Price is 31.0% below estimated fair value
Current Price: $473.01
Fair Value: $685.41
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
NI
370.4% Overvalued
Price is 370.4% above estimated fair value
Current Price: $48.08
Fair Value: $10.22
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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BRK-B

What growth rate is the market pricing in at $473?

-0.3%
Market-Implied Owner Earnings Growth
Standard FCF implies +1.0%

The market implies -0.3% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +1.0%, reflecting heavy growth investment.

NI

Requires positive FCF to compute implied growth rate.

Economic Moat Score

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BRK-B
40/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None

Narrow moat with reinvestment efficiency as the key competitive advantage. Improving revenue predictability would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.
NI
24/100
No Moat
70+ Wide · 40-69 Narrow · <40 None

No durable moat detected, though margin stability shows some competitive positioning. The business lacks consistent evidence of sustainable advantages.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.

Forensic Accounting

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BRK-B
-2.41
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
NI
-2.28
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Ownership Breakdown

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BRK-B
Insiders 0.3%Institutions 66.2%Retail & Other 33.6%
No. of Institutional Holders5,818
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
NI
Insiders 0.4%Institutions 98.5%Retail & Other 1.1%
No. of Institutional Holders1,152
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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BRK-B
0
Buys (3M)
0
Buys (12M)
No open market insider purchases found.
Open market purchases · includes direct & indirect ownership · excludes option exercises
NI
0
Buys (3M)
0
Buys (12M)
No open market insider purchases found.
Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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BRK-B
0
Sells (3M)
0
Sells (12M)
No open market insider sales found.
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
NI
2
Sells (3M)
7
Sells (12M)
Total value (12M): $2.74M
GODE GUNNAR
Officer
$100,050
@ $46.00 · 2026-02-18
ANDERSON SHAWN
Chief Financial Officer
$562,625
@ $45.01 · 2026-02-13
CUCCIA KIMBERLY S
General Counsel
$345,040
@ $43.13 · 2025-11-25
ANDERSON SHAWN
Chief Financial Officer
$470,498
@ $42.33 · 2025-08-28
BERMAN MELANIE B
Officer
$245,499
@ $39.42 · 2025-05-30
YATES LLOYD M
Chief Executive Officer
$627,824
@ $38.93 · 2025-05-16
JESANIS MICHAEL E
Director
$386,470
@ $37.97 · 2025-05-14
ANDERSON SHAWN
Chief Financial Officer
$526,191
@ $40.79 · 2025-03-03
GODE GUNNAR
Officer
$219,560
@ $39.92 · 2025-02-14
ANDERSON SHAWN
Chief Financial Officer
$216,975
@ $32.24 · 2024-08-21
JEFFERSON WILLIAM JR.
Chief Operating Officer
$139,953
@ $32.07 · 2024-08-19
BIRMINGHAM-BYRD MELODY
Officer
$225,578
@ $31.54 · 2024-08-13
BERMAN MELANIE B
Officer
$104,638
@ $27.96 · 2024-05-30
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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BRK-B
FearGreed
😐Neutral(52/100)

"Market is pricing this stock without strong emotion in either direction"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
NI
FearGreed
😏Greed(67/100)

"Market is optimistic — be cautious and ensure you have a margin of safety"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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BRK-B
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Neutral (52)
NI
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Greed (67)
View BRK-B Full AnalysisView NI Full Analysis
BRK-B vs NI: Which Is the Better Buy? | SafetyMargin.io