BRK-B vs HWM: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: BRK-B is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BRK-B and HWM share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BRK-B and HWM exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Berkshire Hathaway is a diversified holding company that owns a wide range of businesses outright and holds a large portfolio of public stocks. Its foundation is insurance: GEICO, Berkshire Hathaway Reinsurance, and other insurers generate underwriting profit and, more importantly, float (premiums held before claims are paid) that Berkshire invests. In Q1 2026 insurance underwriting income rose to about $1.72 billion from $1.34 billion a year earlier, and Q2 2026 underwriting income was about $1.73 billion. Insurance float stood at about $177.5 billion at June 30, 2026. Beyond insurance, Berkshire owns the BNSF railroad, Berkshire Hathaway Energy, and consumer and industrial businesses such as Duracell, Dairy Queen, See's Candies, and Precision Castparts, alongside a stock portfolio historically anchored by names like Apple and American Express. Under Abel the operating group has kept growing by acquisition: Berkshire completed its purchase of OxyChem on January 2, 2026 and closed the $8.5 billion acquisition of homebuilder Taylor Morrison on July 24, 2026.

Full BRK-B guide

Howmet Aerospace is a manufacturer of advanced engineered components for the aerospace and transportation industries. It is a leading maker of investment-cast turbine blades and structural castings for jet engines, engineered fastening systems used to hold aircraft together, aluminum and titanium structural parts, and forged aluminum wheels for commercial trucks. Howmet's products are highly engineered, precision metal parts that operate in extreme temperature and stress environments, particularly the hot sections of jet engines. The company makes money supplying these mission-critical components to engine makers and airframers for new aircraft production, and it earns substantial recurring spares and aftermarket revenue as engines are maintained over their long lives. Howmet was formed from the breakup of the old Arconic and Alcoa lineage and is now a focused aerospace and transportation supplier headquartered in Pittsburgh, Pennsylvania, with about 25,400 employees. Trailing revenue reached roughly $9.1 billion by mid-2026, up from $8.25 billion for full-year 2025, and quarterly sales climbed from $2.09 billion in the September 2025 quarter to $2.55 billion in the June 2026 quarter. It is widely viewed as a high-quality aerospace components company leveraged to rising commercial aircraft build rates and air travel.

Full HWM guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• BRK-B drivers: Leadership transition to Greg Abel; Insurance float and underwriting.
• HWM drivers: Commercial aerospace ramp; Engine spares and aftermarket.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The central 2026 risk is the leadership transition itself, now complete at the top with Buffett as chairman emeritus: Buffett's judgment and reputation were core to Berkshire's edge, and the market will test whether Greg Abel can allocate capital as effectively, especially with a record cash pile to deploy. For HWM, howmet is heavily exposed to commercial aerospace, so any downturn in air travel, airline financial stress, or a slowdown at Boeing and Airbus, including production problems or order cancellations, would reduce demand.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick BRK-B if you believe its drivers more; HWM if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BRK-B and HWM guides.

BRK-B. Figures are approximate and tied to mid-October 2026; verify live numbers before acting. Because accounting rules force Berkshire to mark its large stock portfolio to market each quarter, GAAP net income is noisy: the trailing P/E of about 13 is flattered by investment gains, while the forward multiple of about 24 is based on operating earnings alone. The cash balance means a meaningful part of the market cap is cash awaiting deployment, and the resumption of buybacks in 2026 suggests management sees the shares as reasonably priced. Third-quarter results are expected around November 7, 2026.

HWM. As of October 16, 2026, Howmet trades near 48x trailing and 34x forward earnings and almost 10x sales, still a large premium to traditional industrials, backed by roughly 24% revenue growth and earnings that analysts expect to rise about 42% in 2026. The multiple has compressed with the share price, which is down about 20% over three months though still up about 5% year to date. Third-quarter results on October 29 (consensus EPS about $1.37 on $2.59 billion of revenue) are the next test of whether growth can keep pace with the valuation.

Headline figures (approximate, October 2026): BRK-B shows operating earnings (q2 2026) ~$12.98 billion, up ~16% from ~$11.16 billion; first half ~$24.3 billion, net earnings (q2 2026) ~$25.7 billion, including ~$12.7 billion of investment gains from equity marks, revenue (ttm) ~$385 billion; Q2 2026 revenue up ~10% year over year, insurance float ~$177.5 billion at June 30, 2026; HWM shows revenue (ttm) ~$9.1 billion, revenue growth (latest quarter, yoy) ~24%, operating margin ~28.5%, net income (ttm) ~$1.9 billion.

BRK-B and HWM are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BRK-B and HWM exposure against your real portfolio. It is not an investment adviser.