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	Jul '26 Jul 14, 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	1,236	206	158	102	86	88
Market Cap Growth	39.56%	30.73%	54.18%	18.82%	-2.64%	28.21%
Enterprise Value	1,279	227.11	174.31	101.65	106.63	58.82
PE Ratio	-	-	-	0.87	-	1.27
PS Ratio	3.11	0.52	0.44	0.28	-	0.24
PB Ratio	2.38	0.39	0.28	-	0.16	-
P/TBV Ratio	0.23	0.19	0.14	-	0.09	-
P/FCF Ratio	15.16	2.69	8.28	2.06	-	0.54
P/OCF Ratio	11.08	1.93	3.18	1.40	-	0.39
EV/Sales Ratio	3.22	0.57	0.48	0.28	-	0.16
EV/EBITDA Ratio	20.32	6.34	4.47	1.85	-	1.07
EV/EBIT Ratio	58.78	-	-	6.33	-	2.36
EV/FCF Ratio	15.70	2.96	9.14	2.05	-	0.36
Debt / Equity Ratio	0.61	0.60	0.18	-	0.17	-
Debt / EBITDA Ratio	8.79	10.02	3.85	-	-	-
Debt / FCF Ratio	4.39	4.68	7.88	-	-	-
Net Debt / Equity Ratio	0.08	0.04	0.03	-	0.02	-
Net Debt / EBITDA Ratio	1.07	0.58	0.42	-0.01	-	-0.54
Net Debt / FCF Ratio	0.53	0.27	0.87	-0.01	-2.43	-0.18
Asset Turnover	0.39	0.42	0.58	0.61	0	0.46
Inventory Turnover	67.07	63.04	110.89	109.04	0	163.19
Quick Ratio	2.35	2.31	1.08	0.00	1.01	0.23
Current Ratio	2.47	2.43	1.16	0.00	1.12	0.23
Return on Equity (ROE)	-3.60%	-6.84%	-1.31%	19.99%	0.00%	12.56%
Return on Assets (ROA)	-0.03%	-0.41%	-0.06%	2.29%	0.00%	2.64%
Return on Invested Capital (ROIC)	-0.06%	-0.69%	-0.07%	-	0.00%	-
Return on Capital Employed (ROCE)	-0.05%	-0.63%	-0.18%	3.64%	0.00%	4.28%
Earnings Yield	-	-	-	114.89%	-	78.44%
FCF Yield	6.59%	37.13%	12.08%	48.46%	-	185.60%
Buyback Yield / Dilution	5.24%	6.73%	3.66%	2.70%	6.06%	8.09%
Total Shareholder Return	5.24%	6.73%	3.66%	2.70%	6.06%	8.09%

SEC Filings: 10-K · 10-Q