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Biglari Holdings Inc. BH Restaurant operations — CapEx

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$1.26M-89.3%
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$257K+69.1%
Brand licensing
$0

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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:SegmentExpenditureAdditionToLongLivedAssets.

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
Line itemCapital Expenditures / 2025Capital Expenditures / 2024Capital Expenditures / 2023
Operating Businesses:
Restaurant$26,690$21,812$21,294
Insurance257152309
Oil and gas1,26111,783544
Brand licensing1,776
Operating businesses29,98433,74722,147
Corporate and other313361,258
$30,297$33,783$23,405

Item 8. Financial Statements and Supplementary Data

FAQ

What is Biglari Holdings Inc.'s restaurant operations — capex?
Biglari Holdings Inc. (BH) reported restaurant operations — capex of $6.67M in Q4 2025.
How has Biglari Holdings Inc.'s restaurant operations — capex changed year-over-year?
Biglari Holdings Inc.'s restaurant operations — capex increased by 22.4% year-over-year, from $5.45M to $6.67M.
What is the long-term trend for Biglari Holdings Inc.'s restaurant operations — capex?
Over 3 years (2022 to 2025), Biglari Holdings Inc.'s restaurant operations — capex has grown at a 2.9% compound annual growth rate (CAGR), from $24.47M to $26.69M.
What does restaurant operations — capex mean?
Represents the funds used by the restaurant operations segment to acquire, upgrade, or maintain physical assets such as restaurant facilities, kitchen equipment, and technology systems. This metric reflects the company's investment in long-term growth, store renovations, and operational infrastructure. High levels of expenditure often signal expansion or modernization efforts.

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