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 23, 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	991	756	158	102	86	88
Market Cap Growth	58.58%	379.34%	54.18%	18.82%	-2.64%	28.21%
Enterprise Value	1,012	730.24	124.87	101.65	79.65	58.82
PE Ratio	-	-2.31	-18.91	0.87	-1.29	1.27
PS Ratio	2.51	1.91	0.44	0.28	-	0.24
PB Ratio	1.89	1.45	0.28	-	0.16	-
P/TBV Ratio	0.15	0.17	0.12	-	0.08	-
P/FCF Ratio	12.93	9.87	8.28	2.06	-17.60	0.54
P/OCF Ratio	9.26	7.07	3.18	1.40	-17.60	0.39
EV/Sales Ratio	2.56	1.85	0.34	0.28	-	0.16
EV/EBITDA Ratio	16.17	20.39	3.20	1.85	-	1.07
EV/EBIT Ratio	46.41	-146.87	-150.26	6.33	-	2.36
EV/FCF Ratio	13.21	9.53	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	-3.78%	-43.28%	-5.29%	114.89%	-77.40%	78.44%
FCF Yield	7.73%	10.13%	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