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Biglari Holdings Inc. BH Restaurant operations — CapEx

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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:SegmentExpenditureAdditionToLongLivedAssets.

The official record: Biglari Holdings Inc.’s 10-K, filed March 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

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.