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	Apr '26 Apr 2, 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 Cap	1,069	206	158	102	86	88
Market Cap Growth	64.39%	30.73%	54.18%	18.83%	-2.64%	28.21%
Enterprise Value	1,090	180.09	124.87	101.65	79.65	58.82
PE Ratio	-	-2.31	-18.91	0.87	-1.29	1.27
PS Ratio	2.71	0.52	0.44	0.28	-	0.24
PB Ratio	2.04	0.39	0.28	-	0.16	-
P/TBV Ratio	0.17	0.17	0.12	-	0.08	-
P/FCF Ratio	13.96	2.69	8.28	2.06	-17.60	0.54
P/OCF Ratio	10.00	1.93	3.18	1.40	-17.60	0.39
EV/Sales Ratio	2.76	0.46	0.34	0.28	-	0.16
EV/EBITDA Ratio	17.42	5.03	3.20	1.85	-	1.07
EV/EBIT Ratio	50.02	-36.22	-150.26	6.33	-	2.36
EV/FCF Ratio	14.23	2.35	6.55	2.05	-16.27	0.36
Debt / Equity Ratio	0.60	0.60	0.18	-	0.17	-
Debt / EBITDA Ratio	10.02	10.02	3.85	-	-	-
Debt / FCF Ratio	4.68	4.68	7.88	-	-24.27	-
Net Debt / Equity Ratio	0.04	0.04	0.03	-	0.02	-
Net Debt / EBITDA Ratio	0.58	0.58	0.42	-0.01	-	-0.54
Net Debt / FCF Ratio	0.27	0.27	0.87	-0.01	-2.43	-0.18
Asset Turnover	0.42	0.42	0.58	0.61	0	0.46
Inventory Turnover	63.04	63.04	110.89	109.04	0	163.19
Quick Ratio	2.31	2.31	1.08	0.00	1.01	0.23
Current Ratio	2.43	2.43	1.16	0.00	1.12	0.23
Return on Equity (ROE)	-6.84%	-6.84%	-1.31%	19.99%	0.00%	12.56%
Return on Assets (ROA)	-0.41%	-0.41%	-0.06%	2.29%	0.00%	2.64%
Return on Invested Capital (ROIC)	-0.61%	-0.61%	-0.07%	2.71%	0.00%	3.12%
Return on Capital Employed (ROCE)	-0.63%	-0.63%	-0.18%	3.64%	0.00%	4.28%
Earnings Yield	-3.51%	-43.28%	-5.29%	114.89%	-77.40%	78.44%
FCF Yield	7.16%	37.13%	12.08%	48.46%	-5.68%	185.60%
Buyback Yield / Dilution	6.73%	6.73%	3.66%	2.70%	6.06%	8.09%
Total Shareholder Return	6.73%	6.73%	3.66%	2.70%	6.06%	8.09%

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

SEC Filings: 10-K · 10-Q