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%-0.6pp	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%—	-16.2%—
EBITDA margin	7.2%+17.3pp	0.3%-8.6pp	10.8%-16.9pp	24.6%—	-10.1%—
Free cash flow margin	20.5%—	——	——	——	——
Returns
Return on equity	-3.5%+6.8pp	-6.8%-6.2pp	0.4%-8.5pp	6.8%—	-10.3%—
Return on assets	-2%+4.9pp	-4%-3.5pp	0.2%-5.8pp	4.7%—	-7%—
Return on invested capital	-2.1%+11.0pp	-6.7%-5.5pp	0.2%-8.4pp	7%—	-13.1%—
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×—	——	——	——	——
Interest coverage	-1×+45.2×	-4.8×+4.8×	0.5×-115×	20.9×—	-46.1×—
Valuation
Market capitalization	$1.18B+34.6%	$1.03B+30.7%	$1B+88.2%	$891.54M+225%	$671.91M+150%
Enterprise value	$1.27B+43.0%	$1.06B+25.6%	$1.02B+86.9%	$901.51M+212%	$683.19M+147%
Price / sales	3×+0.6×	2.6×+0.4×	2.6×+1.1×	2.4×+1.6×	1.8×+1.1×
Price / book	2.3×+0.6×	2×+0.6×	1.7×+0.8×	1.5×+1.0×	1.2×+0.8×
EV / EBITDA	44.2×—	——	——	——	——
EV / sales	3.2×+0.8×	2.7×+0.4×	2.6×+1.1×	2.4×+1.6×	1.9×+1.1×
Free cash flow yield	6.9%—	——	——	——	——
Earnings yield	-1.6%+5.2pp	-3.6%-3.2pp	0.2%-9.4pp	4.4%—	-8.9%—

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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.