Where do Biglari Holdings Inc.'s ratios come from?

Every ratio is computed from Biglari Holdings Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	59.5%-0.6pp	59.2%-1.2pp	59.8%-1.2pp	60.2%-0.7pp	60.1%-1.6pp
Net margin	-4.7%+11.5pp	-9.5%-8.4pp	0.5%-13.6pp	10.5%+20.8pp	-16.2%-19.7pp
Returns
Return on equity	-3.5%+6.8pp	-6.8%-6.2pp	0.4%-8.5pp	6.8%+13.1pp	-10.3%-12.3pp
Return on invested capital	-2.1%+11.0pp	-6.7%-5.5pp	0.2%-8.4pp	7%+16.3pp	-13.1%-14.6pp
Efficiency
Asset turnover	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.5×0.0×	0.4×0.0×
Liquidity
Current ratio	2.5×+1.3×	2.4×+1.3×	2.8×+1.4×	1.4×0.0×	1.1×-0.3×
Leverage
Debt-to-equity	0.6×+0.5×	0.6×+0.4×	0.5×+0.4×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	3.1×—	21×+19.3×	0.3×+0.2×	0.1×—	——
Valuation
Market capitalization	$1.13B+28.7%	$1.03B+30.7%	$1B+88.2%	$891.54M+225%	$671.91M+150%
Price / sales	2.8×+0.5×	2.6×+0.4×	2.6×+1.1×	2.4×+1.6×	1.8×+1.1×
Price / book	2.2×+0.5×	2×+0.6×	1.7×+0.8×	1.5×+1.0×	1.2×+0.8×
EV / EBITDA	42.4×—	809×+783×	24.4×+19.0×	9.7×—	——

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Where do Biglari Holdings Inc.'s ratios come from?: Every ratio is computed from Biglari Holdings Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.