Biglari Holdings financials
$339.63−0.71%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $395.3M | $362.1M | $365.3M | $368.2M | $366.1M | $433.7M | $668.8M | $809.9M |
| Gross profit | $158.5M | $140.7M | $157.2M | $155.5M | $145.1M | $137.0M | $135.2M | $148.5M |
| Gross margin | 40.1% | 38.8% | 43.0% | 42.2% | 39.6% | 31.6% | 20.2% | 18.3% |
| Operating income | $20.5M | $22.0M | $35.4M | $42.2M | $32.1M | $4.7M | -$2.7M | -$3.8M |
| Net income | -$37.5M | -$3.8M | $54.9M | -$32.0M | $35.5M | -$38.0M | $45.4M | $19.4M |
| Net margin | −9.5% | −1.0% | 15.0% | −8.7% | 9.7% | −8.8% | 6.8% | 2.4% |
| Diluted EPS | $-143.86 | $-13.45 | $189.49 | $-107.43 | $111.83 | $-110.05 | $131.64 | $55.71 |
| EBITDA | $62.6M | $63.0M | $78.4M | $82.2M | $66.8M | $60.6M | $35.0M | $21.2M |
| Operating cash flow | $107.0M | $49.7M | $73.0M | $127.8M | $228.8M | $117.6M | $93.7M | $20.7M |
| Free cash flow | $76.6M | $19.1M | $49.6M | $98.1M | $164.2M | $96.9M | $76.0M | $5.4M |
| Diluted shares | 0.3M | 0.3M | 0.3M | 0.3M | 0.3M | 0.3M | 0.3M | 0.3M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $268.8M | $30.7M | $28.1M | $37.5M | $42.3M | $24.5M |
| Short-term investments | $69.0M | $103.0M | $91.9M | $69.5M | $83.1M | $94.9M |
| Total debt | $247.0M | $45.0M | $15.2M | $10.0M | $16.9M | $169.6M |
| Total assets | $1.03B | $866.1M | $849.4M | $828.5M | $894.8M | $1.02B |
| Total liabilities | $502.0M | $293.2M | $250.1M | $272.9M | $307.1M | $453.1M |
| Shareholders' equity | $523.4M | $573.0M | $599.3M | $555.6M | $587.7M | $564.8M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology