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Biglari Holdings Inc. BH Restaurant operations — Depreciation, depletion, and amortization

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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:DepreciationDepletionAndAmortization.

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 itemDepreciation, Depletion, and Amortization / 2025Depreciation, Depletion, and Amortization / 2024Depreciation, Depletion, and Amortization / 2023
Operating Businesses:
Restaurant$26,759$27,002$27,031
Insurance368341339
Oil and gas11,67411,10210,339
Brand licensing446
Operating businesses39,24738,44537,709
Corporate and other1,5321,3981,270
$40,779$39,843$38,979

Item 8. Financial Statements and Supplementary Data

FAQ

What is Biglari Holdings Inc.'s restaurant operations — depreciation, depletion, and amortization?
Biglari Holdings Inc. (BH) reported restaurant operations — depreciation, depletion, and amortization of $6.69M in Q4 2025.
How has Biglari Holdings Inc.'s restaurant operations — depreciation, depletion, and amortization changed year-over-year?
Biglari Holdings Inc.'s restaurant operations — depreciation, depletion, and amortization decreased by 0.9% year-over-year, from $6.75M to $6.69M.
What is the long-term trend for Biglari Holdings Inc.'s restaurant operations — depreciation, depletion, and amortization?
Over 4 years (2021 to 2025), Biglari Holdings Inc.'s restaurant operations — depreciation, depletion, and amortization has grown at a 5.6% compound annual growth rate (CAGR), from $21.48M to $26.76M.
What does restaurant operations — depreciation, depletion, and amortization mean?
Represents the non-cash expense allocated to systematically reduce the carrying value of tangible and intangible assets over their estimated useful lives within the restaurant segment. This metric accounts for the wear and tear of restaurant equipment and the expiration of intangible assets. It is a critical component in reconciling net income to cash flow from operations.

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