Biglari Holdings Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May '26 May 20, 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
Market Capitalization	863	1,048	790	505	429	439
Market Cap Growth	61.07%	32.65%	56.26%	17.72%	-2.13%	24.97%
Enterprise Value	906	1,026	772	510	446	437
Last Close Price	1374.65	1740.05	1274.99	793.93	687.50	695.00
PE Ratio	-	-	-	9.20	-	12.37
PS Ratio	2.17	2.65	2.18	1.38	1.17	1.20
PB Ratio	1.66	2.00	1.38	0.84	0.77	0.75
P/TBV Ratio	1.95	2.34	1.59	0.97	0.91	0.86
P/FCF Ratio	10.59	13.68	41.42	10.19	4.38	2.67
P/OCF Ratio	7.74	9.80	15.90	6.92	3.36	1.92
EV/Sales Ratio	2.28	2.60	2.13	1.40	1.21	1.19
EV/EBITDA Ratio	14.40	16.39	12.27	6.51	5.43	6.55
EV/EBIT Ratio	41.66	47.05	33.42	12.95	9.76	11.91
EV/FCF Ratio	11.13	13.39	40.51	10.28	4.55	2.66
Debt / Equity Ratio	0.69	0.69	0.26	0.17	0.21	0.21
Debt / EBITDA Ratio	5.54	5.55	2.37	1.28	1.40	1.48
Debt / FCF Ratio	4.39	4.68	7.88	2.04	1.21	0.74
Net Debt / Equity Ratio	0.08	0.04	0.03	-0.03	0.02	-0.01
Net Debt / EBITDA Ratio	0.69	0.33	0.26	-0.24	0.14	-0.06
Net Debt / FCF Ratio	0.53	0.27	0.87	-0.38	0.12	-0.02
Asset Turnover	0.43	0.42	0.42	0.44	0.43	0.38
Inventory Turnover	47.39	46.90	46.25	46.02	42.02	55.12
Quick Ratio	2.35	2.32	1.09	1.29	1.02	1.09
Current Ratio	2.47	2.43	1.16	1.37	1.12	1.15
Return on Equity (ROE)	-3.54%	-6.84%	-0.64%	9.62%	-5.65%	6.16%
Return on Assets (ROA)	1.47%	1.44%	1.68%	2.93%	3.32%	2.40%
Return on Invested Capital (ROIC)	3.93%	3.84%	3.95%	5.88%	7.95%	4.70%
Return on Capital Employed (ROCE)	2.50%	2.50%	3.20%	5.30%	6.60%	4.90%
Earnings Yield	-2.17%	-3.58%	-0.48%	10.87%	-7.46%	8.09%
FCF Yield	9.44%	7.31%	2.41%	9.81%	22.84%	37.43%
Buyback Yield / Dilution	5.24%	6.73%	3.66%	2.70%	6.06%	8.09%

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

SEC Filings: 10-K · 10-Q