Biglari Holdings Inc. BH Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 59.5%+0.3pp | 59.2%-0.6pp | 59.8%-0.5pp | 60.2%+0.2pp | 60.1%-0.3pp | |
| Net margin | -4.7%+4.8pp | -9.5%-10.0pp | 0.5%-9.9pp | 10.5%+26.7pp | -16.2%-15.2pp | |
| EBITDA margin | 7.2%+6.9pp | 0.3%-10.4pp | 10.8%-13.9pp | 24.6%+34.7pp | -10.1%-19.0pp | |
| Free cash flow margin | 20.5%+1.1pp | 19.4%-1.6pp | 21%+4.4pp | 16.6%— | —— | |
| Returns | ||||||
| Return on equity | -3.5%+3.3pp | -6.8%-7.2pp | 0.4%-6.5pp | 6.8%+17.1pp | -10.3%-9.7pp | |
| Return on assets | -2%+1.9pp | -4%-4.2pp | 0.2%-4.5pp | 4.7%+11.7pp | -7%-6.5pp | |
| Return on invested capital | -2.1%+4.6pp | -6.7%-6.9pp | 0.2%-6.8pp | 7%+20.1pp | -13.1%-11.9pp | |
| Efficiency | ||||||
| Asset turnover | 0.4×0.0× | 0.4×0.0× | 0.4×-0.1× | 0.5×0.0× | 0.4×0.0× | |
| Inventory turnover | 41.5×+0.2× | 41.4×+1.4× | 39.9×+2.2× | 37.7×0.0× | 37.6×-3.3× | |
| Liquidity | ||||||
| Current ratio | 2.5×0.0× | 2.4×-0.4× | 2.8×+1.4× | 1.4×+0.2× | 1.1×0.0× | |
| Quick ratio | 2.4×0.0× | 2.4×-0.4× | 2.8×+1.5× | 1.3×+0.2× | 1.1×0.0× | |
| Cash ratio | 1.4×-0.3× | 1.7×-0.2× | 1.9×+1.6× | 0.3×+0.1× | 0.2×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0.6×0.0× | 0.6×+0.1× | 0.5×+0.4× | 0.1×0.0× | 0.1×-0.1× | |
| Debt-to-assets | 0.3×0.0× | 0.3×0.0× | 0.3×+0.2× | 0×0.0× | 0×-0.1× | |
| Net debt / EBITDA | 3.1×-17.9× | 21×+20.7× | 0.3×+0.2× | 0.1×— | —— | |
| Interest coverage | -1×+3.8× | -4.8×-5.3× | 0.5×-20.4× | 20.9×+67.0× | -46.1×-36.5× | |
| Valuation | ||||||
| Market capitalization | $1.13B+34.6% | $1.03B+2.7% | $1B+12.6% | $891.54M+32.7% | $671.91M-14.8% | |
| Enterprise value | $1.22B+43.0% | $1.06B+4.1% | $1.02B+12.8% | $901.51M+32.0% | $683.19M-19.0% | |
| Price / sales | 2.8×+0.6× | 2.6×0.0× | 2.6×+0.2× | 2.4×+0.5× | 1.8×-0.4× | |
| Price / book | 2.3×+0.6× | 2×+0.2× | 1.7×+0.2× | 1.5×+0.3× | 1.2×-0.1× | |
| EV / EBITDA | 44.2×— | 809×+785× | 24.4×+14.7× | 9.7×— | —— | |
| EV / sales | 3.2×+0.8× | 2.7×0.0× | 2.6×+0.2× | 2.4×+0.5× | 1.9×-0.5× | |
| Free cash flow yield | 6.9%— | 7.4%-0.7pp | 8.1%+1.1pp | 7%— | —— | |
| Earnings yield | -1.6%+5.2pp | -3.6%-3.8pp | 0.2%-4.2pp | 4.4%+13.3pp | -8.9%-8.4pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- 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.
