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
EBITDA margin	7.2%+17.3pp	0.3%-8.6pp	10.8%-16.9pp	24.6%+29.7pp	-10.1%-23.4pp
Free cash flow margin	20.5%—	19.4%—	21%—	16.6%—	——
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 assets	-2%+4.9pp	-4%-3.5pp	0.2%-5.8pp	4.7%+9.1pp	-7%-8.4pp
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×
Inventory turnover	41.5×+3.9×	41.4×+0.4×	39.9×+1.4×	37.7×-1.7×	37.6×-0.5×
Liquidity
Current ratio	2.5×+1.3×	2.4×+1.3×	2.8×+1.4×	1.4×0.0×	1.1×-0.3×
Quick ratio	2.4×+1.3×	2.4×+1.3×	2.8×+1.4×	1.3×0.0×	1.1×-0.3×
Cash ratio	1.4×+1.2×	1.7×+1.5×	1.9×+1.6×	0.3×0.0×	0.2×-0.1×
Leverage
Debt-to-equity	0.6×+0.5×	0.6×+0.4×	0.5×+0.4×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.3×+0.2×	0.3×+0.2×	0.3×+0.2×	0×0.0×	0×0.0×
Net debt / EBITDA	3.1×—	21×+19.3×	0.3×+0.2×	0.1×—	——
Interest coverage	-1×+45.2×	-4.8×+4.8×	0.5×-115×	20.9×+130×	-46.1×-64.6×
Valuation
Market capitalization	$1.13B+28.7%	$1.03B+30.7%	$1B+88.2%	$891.54M+225%	$671.91M+150%
Enterprise value	$1.22B+37.2%	$1.06B+25.6%	$1.02B+86.9%	$901.51M+212%	$683.19M+147%
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×—	——
EV / sales	3.1×+0.6×	2.7×+0.4×	2.6×+1.1×	2.4×+1.6×	1.9×+1.1×
Free cash flow yield	7.2%—	7.4%—	8.1%—	7%—	——
Earnings yield	-1.7%+5.1pp	-3.6%-3.2pp	0.2%-9.4pp	4.4%+18.1pp	-8.9%-13.6pp

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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.