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Biglari Holdings Inc. BH Q3 2025 earnings

Reported November 7, 2025 · Before market open

Revenue$99.7M
EPS$23.46

Next report

Aug 7, 2026 (In 1 week)

Financials

Q3 2025

Income statement

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Revenue$99.7M+10.3%
Gross profit$57.9M+6.8%
Net income-$5.3M-116%
EPS (diluted)-$4.08-118%

Balance sheet

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Cash & equivalents$272.5M+812%
Total debt$285.1M+607%
Total equity$580.3M-3.6%
Total assets$1.1B+24.8%

Cash flow

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Operating cash flow$31.2M+191%
CapEx$8.9M+26.6%
Free cash flow$22.3M+505%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$1B+88.2%
Enterprise value$1.02B+86.9%
P/E480.1×+470×
P/S2.6×+1.1×

Profitability

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Gross margin59.8%-1.2pp
Net margin0.5%-13.6pp
FCF margin21%—

Returns & leverage

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Return on equity0.4%-8.5pp
Debt / equity0.5×+0.4×
Current ratio2.8×+1.4×

Segments

By product

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Restaurant operations$71.7M+15.0%
Insurance premiums and other$19.2M+5.1%
Oil and gas$7.4M-23.0%

Versus estimates

Revenue

Q1 2026$97.5MQ4 2025$99.9M
Q3 2025$99.7M
Q2 2025$100.6MQ1 2025$95.0MQ4 2024$91.1M

Diluted EPS

Q1 2026-$0.56Q4 2025-$2.38
Q3 2025$23.46
Q2 2025$9.17Q1 2025$23.37Q4 2024-$36.60

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Questions, answered.

When did Biglari Holdings Inc. report Q3 2025 earnings?
Biglari Holdings Inc. (BH) reported Q3 2025 earnings on November 7, 2025 before market open.
What were Biglari Holdings Inc.'s Q3 2025 revenue and EPS?
Biglari Holdings Inc. reported revenue of $99.7M and eps of $23.46 for Q3 2025.
How did Biglari Holdings Inc.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.3% from $90.4M a year earlier and eps declined 79.6% from $114.77.
Where can I find Biglari Holdings Inc.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001628280-25-050625) and the 10-Q periodic report (0001628280-25-050620) directly on SEC EDGAR. The filing index links above go to sec.gov.