Thursday, March 11, 2021

Warren Buffett -- Idle Thoughts -- March 11, 2021

New headlines:

Previously posted:

Buffett:

Buffett:

  • BNSF? Best buy ever? How Berkshire Hathaway makes money, Investopedia
  • BNSF Railway Berkshire's freight rail transportation business operates one of the largest systems in North America. BNSF Railway ships coal as well as consumer, industrial, and agricultural products.
  • BNSF Railway's revenue fell 11.3% in 2020 to $20.9 billion as EBT fell 6.3% to $6.8 billion. Rail transport comprised only 9% of Berkshire's total revenue, but it generated over 25% of total EBT.

Something to think about:

  • in the big scheme of things, BNSF and Union Pacific are two peas in a pod, as they say
  • Berkshire Hathaway's EBITDA for the three months ended in December, 2020, was $49,364 million; its EBITDA for the trailing twelve months (TTM) ended in December, 2020, was $70,372 million
    • 25% of $70 billion is $17.5 billion
  • Union Pacific EBITDA for the quarter ending December 31, 2020 was $2.563B, a 3.61% decline year-over-year. Union Pacific EBITDA for the twelve months ending December 31, 2020, was $10.044B, a 6.74% decline year-over-year.

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