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.

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM 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
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 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×
Liquidity
Current ratio	2.5×0.0×	2.4×-0.4×	2.8×+1.4×	1.4×+0.2×	1.1×0.0×
Leverage
Debt-to-equity	0.6×0.0×	0.6×+0.1×	0.5×+0.4×	0.1×0.0×	0.1×-0.1×
Net debt / EBITDA	3.1×—	——	——	——	——
Valuation
Market capitalization	$1.13B+34.6%	$1.03B+2.7%	$1B+12.6%	$891.54M+32.7%	$671.91M-14.8%
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×—	——	——	——	——

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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.