Biglari Holdings Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	200.08	268.78	30.71	28.07	37.47	42.35
Short-Term Investments	114.19	69.05	102.98	91.88	69.47	83.06
Cash & Short-Term Investments	314.26	337.83	133.68	119.95	106.93	125.41
Cash Growth	132.22%	152.71%	11.45%	12.17%	-14.73%	5.07%
Accounts Receivable	24.94	23.28	25.18	22.24	29.38	28.51
Other Receivables	-	1.04	1.14	1.02	1.45	3.22
Receivables	24.94	24.33	26.32	23.26	30.83	31.73
Inventory	3.52	3.77	4.03	2.98	3.85	3.8
Prepaid Expenses	-	8.63	5.11	5.59	4.34	3.87
Other Current Assets	13.49	3.96	1.48	0.77	4.7	-
Total Current Assets	356.21	378.53	170.62	152.55	150.65	164.81
Property, Plant & Equipment	410.24	406.66	410.17	412.71	435.46	391.89
Long-Term Investments	165.49	154.28	201.73	199.1	155.79	250.4
Goodwill	52.56	52.57	52.5	53.53	53.51	53.55
Other Intangible Assets	23.53	23.67	22.82	23.23	23.04	23.46
Other Long-Term Assets	10.28	9.68	8.31	8.3	10.01	10.7
Total Assets	1,018	1,025	866.13	849.42	828.47	894.81
Accounts Payable	32.03	34.17	28.54	22.45	28.43	36.68
Accrued Expenses	11.95	12.68	11.62	19.57	14.29	27.51
Current Portion of Long-Term Debt	28.26	33.07	35	-	10	-
Current Portion of Leases	12.61	13.95	14.45	14.86	16.98	16.9
Current Income Taxes Payable	5.26	10.08	8.13	11.05	14.9	11.39
Current Unearned Revenue	29.35	27.2	27.61	26.74	28.97	37.59
Other Current Liabilities	24.85	24.85	21.96	16.44	21.33	13.57
Total Current Liabilities	144.32	156	147.32	111.1	134.9	143.64
Long-Term Debt	211.68	213.92	10	-	-	-
Long-Term Leases	105.17	97.7	90.74	86.39	91.84	104.48
Long-Term Deferred Tax Liabilities	21.51	18.03	29.39	37.94	31.34	46.53
Other Long-Term Liabilities	16.47	16.31	15.72	14.66	14.82	12.46
Total Liabilities	499.14	501.95	293.17	250.09	272.91	307.11
Common Stock	1.15	1.14	1.14	1.14	1.14	1.14
Additional Paid-In Capital	400.51	385.59	385.59	385.59	381.79	381.79
Retained Earnings	575.68	590.21	627.7	631.46	576.51	608.53
Treasury Stock	-456.6	-452.16	-438.6	-416.34	-409.68	-401.85
Comprehensive Income & Other	-1.57	-1.35	-2.87	-2.52	-2.79	-1.91
Total Common Equity	519.16	523.43	572.96	599.33	546.97	587.7
Minority Interest	-	-	-	-	8.6	-
Shareholders' Equity	519.16	523.43	572.96	599.33	555.57	587.7
Total Liabilities & Equity	1,018	1,025	866.13	849.42	828.47	894.81
Total Debt	357.71	358.64	150.19	101.24	118.83	121.38
Net Cash (Debt)	-43.45	-20.81	-16.5	18.7	-11.89	4.03
Net Cash Per Share	-167.20	-79.84	-59.07	64.49	-39.90	12.71
Filing Date Shares Outstanding	0.63	0.63	0.62	0.62	0.62	0.62
Total Common Shares Outstanding	0.63	0.62	0.62	0.62	0.62	0.62
Working Capital	211.89	222.53	23.3	41.45	15.76	21.17
Book Value Per Share	826.95	843.43	923.25	965.74	881.36	946.99
Tangible Book Value	443.08	447.19	497.65	522.57	470.42	510.69
Tangible Book Value Per Share	705.76	720.58	801.89	842.05	758.01	822.90
Land	133.52	133.52	134.74	139.9	143.31	144.61
Buildings	173.94	169.31	160.28	151.72	151.63	148.61
Machinery	214.21	213.4	213.8	212.42	222.66	224.58
Construction In Progress	2.06	2.2	0.67	1.63	2.24	2.82

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q