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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%
Free cash flow$8.3M-79.0%

Valuation

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Market cap$1.22B+35.3%
Enterprise value$1.45B+58.0%
P/S+0.6×

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:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Biglari Holdings Inc.’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:14 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054841
Line itemFirst Six Months / 2026First Six Months / 2025
Changes in accounts payable and accrued expenses8,021(7,023)
Net cash provided by operating activities35,28057,942
Investing activities
Capital expenditures(13,632)(10,004)
Proceeds from property and equipment disposals6,13212,477
Purchases of interests in limited partnerships(63,530)(30,065)
Return of partnership investments28,600
Purchases of investments(254,272)(31,479)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Biglari Holdings Inc.'s capex?
Biglari Holdings Inc. (BH) reported capex of $6.67M in Q2 2026.
How has Biglari Holdings Inc.'s capex changed year-over-year?
Biglari Holdings Inc.'s capex increased by 146.5% year-over-year, from $2.7M to $6.67M.
What is the long-term trend for Biglari Holdings Inc.'s capex?
Over 4 years (2021 to 2025), Biglari Holdings Inc.'s capex has grown at a -17.2% compound annual growth rate (CAGR), from $64.55M to $30.35M.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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