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Biglari Holdings Inc. BH Advertising — Revenue, remaining performance obligation, amount

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Other financials

Income statement

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Revenue$108.5M+7.9%
Gross profit$67.4M+11.3%
Net income$39.9M-21.6%
EPS (diluted)$31.63-18.7%

Balance sheet

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Cash & equivalents$68.4M+109%
Total debt$289.3M+577%
Total equity$543.8M-7.7%
Total assets$1.1B+22.6%

Cash flow

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Operating cash flow$14.9M-64.5%
CapEx$6.7M+146%
Free cash flow$8.3M-79.0%

Valuation

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Market cap$1.21B+41.7%
Enterprise value$1.43B+65.7%
P/S+0.7×

Profitability

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Gross margin60%-0.2pp
Net margin-7.3%-17.8pp
FCF margin12.4%-4.2pp

Returns & leverage

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Return on equity-5.3%-12.1pp
Debt / equity0.5×+0.5×
Current ratio2.4×+1.1×

Where this comes from

Reported directly by Biglari Holdings Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

The source filing: Biglari Holdings Inc.’s 10-K, filed March 2, 2026.

Filed
Mar 2, 2026, 6:32 AM EST
Fiscal year
FY2025
Accession
0001628280-26-012987

Our advertising arrangements with franchisees are reported in franchise royalties and fees. During the years ended December 31, 2025, 2024, and 2023, restaurant operations recognized $3,448, $3,290, and $4,479, respectively, in revenue related to franchisee advertising fees. As of December 31, 2025 and 2024, restaurant operations had deferred revenue recorded in accrued expenses related to franchisee advertising fees of $891 and $1,441, respectively. Restaurant operations expect to recognize approximately $780 of deferred revenue during 2026.

Item 8. Financial Statements and Supplementary Data

FAQ

What is Biglari Holdings Inc.'s advertising — revenue, remaining performance obligation, amount?
Biglari Holdings Inc. (BH) reported advertising — revenue, remaining performance obligation, amount of $891K in Q4 2025.
How has Biglari Holdings Inc.'s advertising — revenue, remaining performance obligation, amount changed year-over-year?
Biglari Holdings Inc.'s advertising — revenue, remaining performance obligation, amount decreased by 38.2% year-over-year, from $1.44M to $891K.
What does advertising — revenue, remaining performance obligation, amount mean?
This metric represents the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the end of the reporting period. It provides visibility into the company's future revenue backlog specifically derived from advertising contracts, indicating the stability and predictability of future cash flows from this segment.

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