Biglari Holdings Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	395.26	362.11	365.32	-	366.11
Revenue Growth (YoY)	9.15%	-0.88%	-	-	-
Cost of Revenue	245.85	223.49	209.96	-	223.33
Gross Profit	149.42	138.62	155.36	-	142.78
Selling, General & Admin	86.84	75.67	77	-	76.02
Depreciation & Amortization Expenses	40.78	39.84	38.98	-	30.05
Other Operating Expenses	26.77	23.94	23.31	-	11.8
Total Operating Expenses	154.39	139.45	139.29	0	117.86
Operating Income	-4.97	-0.83	16.07	-	24.91
Total Non-Operating Income (Expense)	-66.47	-40.72	21.65	-	17.35
Pretax Income	-47.69	-8.15	64.85	-	42.27
Provision for Income Taxes	-10.2	-4.4	9.31	-	6.79
Net Income	-37.49	-3.76	54.95	-	35.48
Minority Interest in Earnings	-	-	0.59	-	-
Net Income to Common	-37.49	-3.76	54.95	-	35.48
Shares Outstanding (Basic)	0	0	0	0	0
Shares Outstanding (Diluted)	0	0	0	0	0
Shares Change (YoY)	-6.73%	-3.66%	-2.70%	-6.06%	-8.09%
EPS (Basic)	-143.86	-13.45	189.49	-107.43	111.83
EPS (Diluted)	-143.86	-13.45	189.49	-107.43	111.83
Free Cash Flow	76.61	19.07	49.6	-4.89	164.22
Free Cash Flow Growth	301.79%	-61.56%	-	-	984.01%
Free Cash Flow Per Share	293.98	68.24	171.03	-16.42	517.63
Gross Margin	37.80%	38.28%	42.53%	-	39.00%
Operating Margin	-1.26%	-0.23%	4.40%	-	6.80%
Profit Margin	-9.48%	-1.04%	15.20%	-	9.69%
FCF Margin	19.38%	5.27%	13.58%	-	44.86%
EBITDA	35.81	39.01	55.05	0	54.96
EBITDA Margin	9.06%	10.77%	15.07%	-	15.01%
EBIT	-4.97	-0.83	16.07	-	24.91
EBIT Margin	-1.26%	-0.23%	4.40%	-	6.80%
Effective Tax Rate	21.39%	53.90%	14.35%	-	16.06%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q