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Biglari Holdings Inc. BH Gift Cards — Total revenues

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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+42.1%
Enterprise value$1.43B+66.0%
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:RevenueFromContractWithCustomerExcludingAssessedTax.

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

For the years ended December 31, 2025, 2024, and 2023, restaurant operations recognized $4,657, $4,224, and $5,276, respectively, of revenue from gift card redemptions. As of December 31, 2025 and 2024, restaurant operations had deferred revenue recorded in accrued expenses related to unredeemed gift cards of $4,973 and $5,214, respectively. Restaurant operations expect to recognize approximately $2,413 of deferred revenue during 2026.

Item 8. Financial Statements and Supplementary Data

FAQ

What is Biglari Holdings Inc.'s gift cards — total revenues?
Biglari Holdings Inc. (BH) reported gift cards — total revenues of $1.16M in Q4 2025.
How has Biglari Holdings Inc.'s gift cards — total revenues changed year-over-year?
Biglari Holdings Inc.'s gift cards — total revenues increased by 10.3% year-over-year, from $1.06M to $1.16M.
What is the long-term trend for Biglari Holdings Inc.'s gift cards — total revenues?
Over 4 years (2021 to 2025), Biglari Holdings Inc.'s gift cards — total revenues has grown at a -5.8% compound annual growth rate (CAGR), from $5.9M to $4.66M.
What does gift cards — total revenues mean?
This metric represents the total revenue recognized from the sale and redemption of gift cards within the specified business segment. It reflects the consumer demand for the company's products or services through prepaid instruments and serves as an indicator of brand engagement and future sales potential. Tracking this revenue stream helps investors assess the contribution of prepaid programs to the overall top-line performance of the segment.

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