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 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 20, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	1,237	790	505	429	439	351
Market Cap Growth	75.15%	56.26%	17.72%	-2.13%	24.97%	-2.71%
Enterprise Value	1,215	772	510	446	437	519
Last Close Price	391.18	254.29	164.93	138.80	142.57	111.20
PE Ratio	591.45	-	9.20	-	12.37	-
PS Ratio	3.20	2.18	1.38	1.17	1.20	0.81
PB Ratio	2.13	1.38	0.84	0.77	0.75	0.62
P/TBV Ratio	2.45	1.59	0.97	0.91	0.86	0.72
P/FCF Ratio	15.25	41.42	10.19	4.38	2.67	3.63
P/OCF Ratio	11.54	15.90	6.92	3.36	1.92	2.99
EV/Sales Ratio	3.14	2.13	1.40	1.21	1.19	1.20
EV/EBITDA Ratio	18.97	12.27	6.51	5.43	6.55	8.57
EV/EBIT Ratio	50.81	33.42	12.95	9.76	11.91	18.30
EV/FCF Ratio	14.98	40.51	10.28	4.55	2.66	5.36
Debt / Equity Ratio	0.60	0.26	0.17	0.21	0.21	0.50
Debt / EBITDA Ratio	5.38	2.37	1.28	1.40	1.48	3.47
Debt / FCF Ratio	4.28	7.88	2.04	1.21	0.74	2.90
Net Debt / Equity Ratio	-0.04	0.03	-0.03	0.02	-0.01	0.29
Net Debt / EBITDA Ratio	-0.34	0.26	-0.24	0.14	-0.06	2.67
Net Debt / FCF Ratio	-0.27	0.87	-0.38	0.12	-0.02	1.67
Asset Turnover	0.40	0.42	0.44	0.43	0.38	0.40
Inventory Turnover	45.22	46.25	46.02	42.02	55.12	69.49
Quick Ratio	2.73	1.09	1.29	1.02	1.09	0.49
Current Ratio	2.83	1.16	1.37	1.12	1.15	0.51
Return on Equity (ROE)	0.35%	-0.64%	9.62%	-5.65%	6.16%	-6.43%
Return on Assets (ROA)	1.54%	1.68%	2.93%	3.32%	2.40%	1.64%
Return on Invested Capital (ROIC)	4.21%	3.95%	5.88%	7.95%	4.70%	3.62%
Return on Capital Employed (ROCE)	2.60%	3.20%	5.30%	6.60%	4.90%	3.90%
Earnings Yield	0.17%	-0.48%	10.87%	-7.46%	8.09%	-10.82%
FCF Yield	6.56%	2.41%	9.81%	22.84%	37.43%	27.59%
Buyback Yield / Dilution	6.48%	3.66%	2.70%	6.06%	8.09%	-0.13%

Updated Nov 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q