Biglari Holdings Inc. BH

Consumer discretionary SIC 5812 - Retail-Eating Places NAICS Accommodation and Food Services › Food Services and Drinking Places › Restaurants and Other Eating Places derived NYSE

Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance and reinsurance, licensing and media, restaurants, and oil and gas. The Company's largest operating subsidiaries are involved in the franchising and operating of restaurants. Biglari Holdings is founded and led by Sardar Biglari, Chairman and Chief Executive Officer of the Company.

Biglari Holdings' management system combines decentralized operations with centralized financial decision-making. Operating decisions for the various business units are made by their respective managers. All major investment and capital allocation decisions are made for the Company and its subsidiaries by Mr. Biglari.

Last close 396.19 2026-10-23
Market cap —
52-week range 234.91 - 483.60

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-143.86

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $395.3M$362.1M$365.3M$368.2M$366.1M$433.7M$668.8M$775.7M——
Cost of revenue $161.3M$143.4M$138.0M$140.3M$167.5M$246.7M$500.9M$636.5M——
Gross profit $233.9M$218.7M$227.3M$228.0M$198.6M$187.0M$167.9M$139.2M——
SG&A $86.8M$75.7M$77.0M$70.6M$76.0M$76.4M$100.2M$127.2M——
Total operating expenses $376.5M$329.5M$322.1M$331.9M$341.2M$444.5M$691.8M$833.5M——
Interest expense —————$15.5M$20.3M$19.9M——
Pre-tax income -$47.7M-$8.2M$64.8M-$43.0M$42.3M-$50.2M$55.1M$16.8M——
Income tax $10.2M$4.4M$9.3M$10.7M$6.8M$12.2M$9.8M$2.6M——
Net income -$37.5M-$3.8M$54.9M-$32.0M$35.5M-$38.0M$45.4M$19.4M$50.1M$99.5M
EPS, diluted -143.86-13.45189.49-107.43111.83-110.05131.64———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $268.8M$30.7M$28.1M$38.8M$43.7M$29.7M$70.7M$55.0M$67.2M—
Receivables $23.3M$25.2M$22.2M$29.4M$28.5M$19.2M$21.6M———
Inventory $3.8M$4.0M$3.0M$3.9M$3.8M$2.7M$4.7M———
Total current assets $378.5M$170.6M$152.6M$150.7M$164.8M$147.8M$145.4M———
Property, plant and equipment $366.6M$376.2M$380.5M$400.7M$349.4M$316.1M$350.6M———
Goodwill $52.6M$52.5M$52.5M$53.5M$53.5M$53.6M$40.0M$40.1M$40.1M—
Other intangibles $23.7M$22.8M$23.2M$23.0M$23.5M$24.1M$27.2M———
Total assets $1.03B$866.1M$849.4M$828.5M$894.8M$1.02B$1.14B———
Accounts payable $34.2M$28.5M$22.4M$28.4M$36.7M$26.5M————
Short-term debt $33.1M$35.0M$0$10.0M$0$152.3M$7.1M———
Total current liabilities $156.0M$147.3M$111.1M$134.9M$143.6M$288.4M$139.8M———
Long-term debt $213.9M$10.0M——$104.5M$111.6M$263.2M———
Total liabilities $502.0M$293.2M$250.1M$272.9M$307.1M$453.1M$523.0M———
Retained earnings $590.2M$627.7M$631.5M$576.5M$608.5M$573.0M$611.0M———
Total equity $523.4M$573.0M$599.3M$555.6M$587.7M$564.8M$616.3M$570.5M$571.3M$531.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $107.0M$49.7M$73.0M$127.8M$228.8M$117.6M$93.7M$20.7M——
Depreciation and amortisation $40.8M$39.8M$39.0M$36.4M$30.1M$32.2M$29.6M$19.3M——
Capital expenditure $30.4M$30.6M$23.4M$29.7M$64.5M$20.7M$17.7M$15.3M——
Investing cash flow -$65.5M-$87.4M-$66.1M-$136.6M-$58.5M-$129.5M-$70.0M-$25.3M——
Financing cash flow $196.5M$39.5M-$16.1M$3.9M-$156.2M-$29.1M-$8.0M-$7.5M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-022422.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -250M 0 250M 500M 750M 1B Net income, FY2016: 99.5M Net income, FY2017: 50.1M Revenue, FY2018: 775.7M Gross profit, FY2018: 139.2M Net income, FY2018: 19.4M Revenue, FY2019: 668.8M Gross profit, FY2019: 167.9M Net income, FY2019: 45.4M Revenue, FY2020: 433.7M Gross profit, FY2020: 187M Net income, FY2020: -38M Revenue, FY2021: 366.1M Gross profit, FY2021: 198.6M Net income, FY2021: 35.5M Revenue, FY2022: 368.2M Gross profit, FY2022: 228M Net income, FY2022: -32M Revenue, FY2023: 365.3M Gross profit, FY2023: 227.3M Net income, FY2023: 54.9M Revenue, FY2024: 362.1M Gross profit, FY2024: 218.7M Net income, FY2024: -3.8M Revenue, FY2025: 395.3M Gross profit, FY2025: 233.9M Net income, FY2025: -37.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — $775.7M $668.8M $433.7M $366.1M $368.2M $365.3M $362.1M $395.3M
Gross profit — — $139.2M $167.9M $187.0M $198.6M $228.0M $227.3M $218.7M $233.9M
Net income $99.5M $50.1M $19.4M $45.4M -$38.0M $35.5M -$32.0M $54.9M -$3.8M -$37.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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