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Biglari Holdings Inc. BH Licensing and media — Restaurant operations

Other product segments

Restaurant operations
$66.15M+2.8%
Insurance premiums and other
$18.94M-2.1%
Oil and gas
$9.14M-8.0%

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WHLicense and other fees — Royalties and franchise fee revenues
$30M+11.1%

Other financials

Income statement

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Revenue$97.5M+2.6%
Gross profit$60.0M+4.8%
Net income-$14.5M+56.3%
EPS (diluted)-$11.16+55.9%

Balance sheet

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Cash & equivalents$200.1M+598%
Total debt$290.3M+627%
Total equity$519.2M-3.8%
Total assets$1.0B+22.8%

Cash flow

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Operating cash flow$20.3M+28.7%
CapEx$7.0M-4.6%
Free cash flow$13.4M+57.3%

Valuation

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Market cap$1.13B+28.7%
Enterprise value$1.22B+37.2%
P/S2.8×+0.5×

Profitability

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Gross margin59.5%-0.6pp
Net margin-4.7%-2.0pp
FCF margin20.5%

Returns & leverage

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Return on equity-3.5%-1.4pp
Debt / equity0.6×+0.5×
Current ratio2.5×+1.3×

Where this comes from

Reported directly by Biglari Holdings Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Biglari Holdings Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Biglari Holdings Inc.'s licensing and media — restaurant operations?
Biglari Holdings Inc. (BH) reported licensing and media — restaurant operations of $3.26M in Q1 2026.
How has Biglari Holdings Inc.'s licensing and media — restaurant operations changed year-over-year?
Biglari Holdings Inc.'s licensing and media — restaurant operations increased by 131.8% year-over-year, from $1.41M to $3.26M.
What is the long-term trend for Biglari Holdings Inc.'s licensing and media — restaurant operations?
Over 2 years (2021 to 2023), Biglari Holdings Inc.'s licensing and media — restaurant operations has grown at a -18.7% compound annual growth rate (CAGR), from $3.2M to $2.12M.
What does licensing and media — restaurant operations mean?
This metric represents the total revenue generated from licensing intellectual property, brand assets, and media rights associated with the company's restaurant operations. It captures income streams derived from franchising agreements, brand usage fees, and related media content distribution. Monitoring this revenue stream provides insight into the scalability and brand equity monetization of the company's food service portfolio.