What is Biglari Holdings Inc.'s net debt / EBITDA?

Biglari Holdings Inc. (BH) reported net debt / EBITDA of 3.1× in Q1 2026.

What is the long-term trend for Biglari Holdings Inc.'s net debt / EBITDA?

Over 2 years (2023 to 2025), Biglari Holdings Inc.'s net debt / EBITDA has grown at a 1259.0% compound annual growth rate (CAGR), from 0.1× to 21×.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

Biglari Holdings Inc. BH Net debt / EBITDA

Net debt / EBITDA at other companies

Wendy'sWEN

7.8×+0.7×

McDonald'sMCD

4.1×-0.2×

Darden RestaurantsDRI

3.9×-0.1×

Berkshire HathawayBRK.B

0.1×0.0×

BJ's RestaurantsBJRI

3.6×—

Shake ShackSHAK

3.7×-1.0×

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

Calculated from Biglari Holdings Inc.’s reported figures.

net debt/ebitda=3.1×

Based on the most recent quarter.

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 net debt / EBITDA?: Biglari Holdings Inc. (BH) reported net debt / EBITDA of 3.1× in Q1 2026.
What is the long-term trend for Biglari Holdings Inc.'s net debt / EBITDA?: Over 2 years (2023 to 2025), Biglari Holdings Inc.'s net debt / EBITDA has grown at a 1259.0% compound annual growth rate (CAGR), from 0.1× to 21×.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.