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Biglari (BH.A) Financials

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$1,290.17 +30.21 (+2.40%)
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Annual Income Statements for Biglari

Annual Income Statements for Biglari

This table shows Biglari's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016
Net Income / (Loss) Attributable to Common Shareholders		 -3.76 55 -32 35 -38 45 19 50 99
Consolidated Net Income / (Loss)		 -3.76 56 -32 35 -38 45 19 50 99
Net Income / (Loss) Continuing Operations		 -3.76 56 -32 35 -38 45 19 50 99
Total Pre-Tax Income 		-8.15 65 -43 42 -50 55 17 -13 146
Total Operating Income		 33 44 37 26 -1.55 -11 -3.77 0.27 32
Total Gross Profit		 217 225 228 199 185 165 169 179 199
Total Revenue		 362 365 368 366 434 669 810 840 850
Operating Revenue		 362 365 368 366 434 669 810 840 850
Total Cost of Revenue		 145 140 140 167 249 504 641 661 651
Operating Cost of Revenue		 145 140 140 167 249 504 641 661 651
Total Operating Expenses		 183 182 191 173 186 175 173 179 168
Selling, General & Admin Expense		 76 77 71 76 76 100 127 129 127
Marketing Expense		 17 17 18 10 8.70 7.26 0.00 0.00 -
Depreciation Expense		 40 39 36 30 32 30 19 21 23
Other Operating Expenses / (Income)		 67 58 63 51 45 30 21 26 17
Impairment Charge		 1.11 3.95 3.52 4.64 24 8.19 5.68 1.79 -
Other Special Charges / (Income)		 -17 -14 0.00 0.00 - - - - -
Total Other Income / (Expense), net		 -41 21 -80 16 -49 66 21 -13 115
Interest Expense		 0.77 0.68 0.40 1.12 9.26 12 20 20 21
Interest & Investment Income		 -41 22 -79 17 -39 78 40 - -
Income Tax Expense		 -4.40 9.31 -11 6.79 -12 9.76 -2.64 -63 47
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.59 -0.29 0.00 0.00 - - - -
Basic Earnings per Share		 ($13.45) $189.49 ($107.43) $111.83 ($132.06) $157.97 $67.15 $136.01 $271.22
Weighted Average Basic Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M - -
Diluted Earnings per Share		 ($13.45) $189.49 ($107.43) $111.83 ($110.05) $26.33 $67.15 $136.01 $271.22
Weighted Average Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M - -
Weighted Average Basic & Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M - -

Quarterly Income Statements for Biglari

This table shows Biglari's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 -10 32 -48 23 45 -57 1.94 65 10 32
Consolidated Net Income / (Loss)		 -10 32 -48 23 45 -57 1.88 66 9.73 32
Net Income / (Loss) Continuing Operations		 -10 32 -48 23 45 -57 1.88 66 9.73 32
Total Pre-Tax Income 		-18 43 -63 29 51 -74 2.89 85 12 42
Total Operating Income		 4.35 3.55 20 5.70 4.02 21 10 9.22 5.54 13
Total Gross Profit		 54 54 54 55 55 54 59 57 66 56
Total Revenue		 91 90 91 89 91 91 94 90 98 92
Operating Revenue		 91 90 91 89 91 91 94 90 98 92
Total Cost of Revenue		 37 36 37 34 35 37 35 33 33 36
Operating Cost of Revenue		 37 36 37 34 35 37 35 33 33 36
Total Operating Expenses		 49 51 34 49 51 34 49 48 60 43
Selling, General & Admin Expense		 19 20 19 18 22 18 19 17 22 15
Marketing Expense		 3.43 4.43 4.28 4.50 4.61 3.77 3.51 5.47 6.09 4.09
Depreciation Expense		 10 11 9.12 10 9.33 9.61 10 9.94 12 8.46
Other Operating Expenses / (Income)		 17 16 17 17 13 15 15 15 16 15
Total Other Income / (Expense), net		 -22 40 -83 24 47 -95 -7.18 76 6.75 29
Interest Expense		 0.45 0.28 0.04 0.00 0.21 0.26 0.04 0.17 0.33 0.07
Interest & Investment Income		 -22 40 -83 24 47 -94 -7.14 76 -75 -0.85
Income Tax Expense		 -7.69 11 -15 6.82 6.05 -18 1.02 20 2.56 9.60
Basic Earnings per Share		 ($51.80) $114.77 ($171.89) $95.47 $111.66 ($195.55) $6.64 $266.74 $56.03 $130.96
Weighted Average Basic Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M
Diluted Earnings per Share		 ($51.80) $114.77 ($171.89) $95.47 $111.66 ($195.55) $6.64 $266.74 $56.03 $130.96
Weighted Average Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M
Weighted Average Basic & Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M

Annual Cash Flow Statements for Biglari

This table details how cash moves in and out of Biglari's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016
Net Change in Cash & Equivalents		 1.78 -9.15 -4.88 14 -41 16 -12 -8.60 0.00
Net Cash From Operating Activities		 50 73 128 229 118 94 21 26 0.00
Net Cash From Continuing Operating Activities		 50 73 128 229 118 94 21 26 0.00
Net Income / (Loss) Continuing Operations		 -3.76 56 -32 35 -38 45 19 50 0.00
Consolidated Net Income / (Loss)		 -3.76 56 -32 35 -38 45 19 50 0.00
Depreciation Expense		 40 39 36 30 32 30 19 21 0.00
Non-Cash Adjustments To Reconcile Net Income		 24 -19 155 158 167 63 -4.20 3.28 0.00
Changes in Operating Assets and Liabilities, net		 -10 -2.85 -32 4.81 -44 -44 -14 -49 0.00
Net Cash From Investing Activities		 -87 -66 -137 -59 -129 -70 -25 -12 0.00
Net Cash From Continuing Investing Activities		 -87 -66 -137 -59 -129 -70 -25 -12 0.00
Purchase of Property, Plant & Equipment		 -31 -23 -30 -65 -21 -18 -15 -8.03 0.00
Acquisitions		 0.00 0.00 -58 0.00 -36 -51 0.00 0.00 -
Purchase of Investments		 -143 -153 -183 -122 -300 -195 -98 -46 0.00
Sale of Property, Plant & Equipment		 29 25 5.32 10 4.42 4.58 2.59 1.00 0.00
Sale and/or Maturity of Investments		 57 91 129 118 293 149 49 42 0.00
Other Investing Activities, net		 0.00 -5.39 0.00 0.00 -70 40 37 0.00 0.00
Net Cash From Financing Activities		 39 -16 3.86 -156 -29 -8.01 -7.53 -23 0.00
Net Cash From Continuing Financing Activities		 39 -16 3.86 -156 -29 -8.01 -7.53 -23 0.00
Repayment of Debt		 -16 -42 -20 -150 -24 -2.20 -2.38 -17 0.00
Issuance of Debt		 61 32 30 0.00 0.50 0.00 0.00 - -
Other Financing Activities, net		 -5.52 -6.13 -6.14 -6.21 -5.83 -5.81 -5.16 -5.60 0.00
Effect of Exchange Rate Changes		 0.02 0.06 0.04 -0.06 0.01 -0.01 -0.08 0.17 0.00

Quarterly Cash Flow Statements for Biglari

This table details how cash moves in and out of Biglari's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 0.20 2.95 -7.84 6.47 -5.93 3.11 -8.48 2.15 -27 24
Net Cash From Operating Activities		 18 11 1.79 19 24 17 12 20 28 66
Net Cash From Continuing Operating Activities		 18 11 1.79 19 24 17 12 20 28 66
Net Income / (Loss) Continuing Operations		 -10 32 -48 23 45 -57 1.88 66 9.73 32
Consolidated Net Income / (Loss)		 -10 32 -48 23 45 -57 1.88 66 9.73 32
Depreciation Expense		 10 11 9.12 10 9.33 9.61 10 9.94 12 8.46
Non-Cash Adjustments To Reconcile Net Income		 25 -42 68 -26 -28 81 3.39 -75 19 17
Changes in Operating Assets and Liabilities, net		 -6.35 10 -27 13 -1.77 -17 -3.76 19 -13 7.90
Net Cash From Investing Activities		 -52 -15 -8.34 -11 -9.85 -28 -16 -13 -34 -70
Net Cash From Continuing Investing Activities		 -52 -15 -8.34 -11 -9.85 -28 -16 -13 -34 -70
Purchase of Property, Plant & Equipment		 -7.10 -7.07 -12 -4.60 -6.50 -6.35 -4.63 -5.93 -6.31 -7.02
Purchase of Investments		 -57 -21 -41 -25 -33 -52 -38 -30 -48 -57
Sale of Property, Plant & Equipment		 3.73 3.59 21 0.92 4.22 11 7.53 2.14 3.12 2.09
Sale and/or Maturity of Investments		 7.60 8.75 24 17 25 20 25 21 21 27
Net Cash From Financing Activities		 35 7.56 -1.29 -1.40 -21 14 -4.43 -5.05 -21 28
Net Cash From Continuing Financing Activities		 35 7.56 -1.29 -1.40 -21 14 -4.43 -5.05 -21 28
Repayment of Debt		 -9.00 -1.05 -6.00 0.00 -19 -11 -7.90 -3.50 -20 -
Issuance of Debt		 45 10 - - - 27 - - - 30
Other Financing Activities, net		 -1.39 -1.39 -1.34 -1.40 -1.51 -1.54 -1.53 -1.55 -1.49 -1.51
Effect of Exchange Rate Changes		 0.06 -0.04 0.00 -0.01 0.12 -0.15 0.09 0.01 0.19 -0.06

Annual Balance Sheets for Biglari

This table presents Biglari's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017
Total Assets		 866 849 828 895 1,018 1,139 1,029 0.00
Total Current Assets		 171 153 151 165 148 145 115 0.00
Cash & Equivalents		 31 28 37 42 25 68 49 0.00
Short-Term Investments		 103 92 69 83 95 45 34 0.00
Accounts Receivable		 25 22 29 29 19 22 16 0.00
Inventories, net		 4.03 2.98 3.85 3.80 2.74 4.67 7.54 0.00
Other Current Assets		 7.72 7.39 10 7.09 6.49 6.45 9.24 0.00
Plant, Property, & Equipment, net		 376 380 401 349 316 351 275 0.00
Total Noncurrent Assets		 319 316 277 381 554 643 640 0.00
Long-Term Investments		 202 199 156 250 420 506 557 0.00
Goodwill		 52 54 54 54 54 40 40 0.00
Intangible Assets		 23 23 23 23 24 27 28 0.00
Other Noncurrent Operating Assets		 42 41 45 53 57 70 14 0.00
Total Liabilities & Shareholders' Equity		 866 849 828 895 1,018 1,139 1,029 0.00
Total Liabilities		 293 250 273 307 453 523 459 0.00
Total Current Liabilities		 147 111 135 144 288 140 123 0.00
Short-Term Debt		 35 0.00 10 0.00 152 7.10 5.72 0.00
Accounts Payable		 63 67 79 102 91 121 117 0.00
Other Current Liabilities		 49 44 46 42 45 12 0.00 -
Total Noncurrent Liabilities		 146 139 138 163 165 383 336 0.00
Long-Term Debt		 10 0.00 - - - 263 240 0.00
Asset Retirement Reserve & Litigation Obligation		 15 14 14 10 10 10 0.00 -
Noncurrent Deferred & Payable Income Tax Liabilities		 29 38 31 47 41 54 87 0.00
Other Noncurrent Operating Liabilities		 91 87 93 107 113 55 9.18 0.00
Total Equity & Noncontrolling Interests		 573 599 556 588 565 616 570 0.00
Total Preferred & Common Equity		 573 599 547 588 565 616 570 0.00
Total Common Equity		 573 599 547 588 565 616 570 0.00
Common Stock		 387 387 383 383 383 383 383 0.00
Retained Earnings		 628 631 577 609 573 611 564 0.00
Treasury Stock		 -439 -416 -410 -402 -390 -375 -374 0.00
Accumulated Other Comprehensive Income / (Loss)		 -2.87 -2.52 -2.79 -1.91 -1.53 -2.81 -2.52 0.00

Quarterly Balance Sheets for Biglari

This table presents Biglari's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 865 809 885 827 890 907 862
Total Current Assets		 165 151 168 155 153 163 178
Cash & Equivalents		 30 27 35 34 31 39 65
Short-Term Investments		 103 94 98 84 88 80 70
Accounts Receivable		 21 19 24 26 23 27 26
Inventories, net		 3.86 3.59 3.57 3.46 3.60 3.76 3.70
Other Current Assets		 7.18 7.88 8.41 7.72 7.76 14 13
Plant, Property, & Equipment, net		 381 381 377 384 389 393 414
Total Noncurrent Assets		 319 277 340 288 348 351 270
Long-Term Investments		 202 159 221 169 229 231 145
Goodwill		 76 76 77 76 77 77 76
Other Noncurrent Operating Assets		 42 43 42 42 43 43 49
Total Liabilities & Shareholders' Equity		 865 809 885 827 890 907 862
Total Liabilities		 263 240 267 270 274 286 317
Total Current Liabilities		 112 106 118 142 121 131 146
Accounts Payable		 67 60 73 79 73 79 102
Other Current Liabilities		 45 46 45 44 44 45 44
Total Noncurrent Liabilities		 151 134 148 128 152 155 171
Long-Term Debt		 9.00 - - - - - 30
Asset Retirement Reserve & Litigation Obligation		 15 15 14 14 14 14 15
Noncurrent Deferred & Payable Income Tax Liabilities		 35 26 42 25 48 50 29
Other Noncurrent Operating Liabilities		 92 93 92 89 90 91 98
Total Equity & Noncontrolling Interests		 602 569 619 557 616 621 545
Total Preferred & Common Equity		 602 569 619 557 616 612 536
Total Common Equity		 602 569 619 557 616 612 536
Common Stock		 387 387 387 387 387 383 383
Retained Earnings		 638 606 654 587 643 641 566
Treasury Stock		 -421 -421 -420 -413 -411 -410 -409
Accumulated Other Comprehensive Income / (Loss)		 -2.18 -2.67 -2.55 -3.07 -2.78 -2.46 -3.78

Annual Metrics And Ratios for Biglari

This table displays calculated financial ratios and metrics derived from Biglari's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016
Growth Metrics		 - - - - - - - - -
Revenue Growth		 -0.88% -0.79% 0.58% -15.58% -35.16% -17.42% -3.56% -1.21% 0.00%
EBITDA Growth		 -11.67% 13.25% 30.45% 82.86% 61.19% 22.40% -45.80% -84.91% 0.00%
EBIT Growth		 -24.01% 19.50% 41.04% 1,778.53% 85.30% -179.69% -152.16% -95.67% 0.00%
NOPAT Growth		 -37.90% 46.21% 17.62% 2,112.75% 87.50% -98.88% -2,435.83% -99.13% 0.00%
Net Income Growth		 -106.77% 271.92% -191.06% 193.39% -183.71% 134.01% -61.27% -49.65% 0.00%
EPS Growth		 -107.10% 276.38% -196.07% 201.62% -517.96% -60.79% -50.63% -49.85% 0.00%
Operating Cash Flow Growth		 -31.97% -42.89% -44.12% 94.60% 25.48% 353.06% -19.79% 0.00% 0.00%
Free Cash Flow Firm Growth		 -64.96% 192.16% -450.20% -113.30% 188.43% 44.19% -96,753.11% 0.00% 0.00%
Invested Capital Growth		 0.81% -7.45% 42.93% 18.92% -33.62% 52.27% 0.00% 0.00% 0.00%
Revenue Q/Q Growth		 0.12% -2.09% -0.13% -0.19% -11.93% -5.23% -1.68% 0.00% 0.00%
EBITDA Q/Q Growth		 1.49% -5.15% 2.88% 16.25% -21.95% 3,169.42% -50.17% 0.00% 0.00%
EBIT Q/Q Growth		 0.99% -3.35% -6.26% 44.10% -142.79% 52.87% -132.69% 0.00% 0.00%
NOPAT Q/Q Growth		 -16.39% 6.10% -6.26% 56.92% -142.79% 52.19% -97.36% 0.00% 0.00%
Net Income Q/Q Growth		 -107.35% 169.18% 31.06% -53.70% 37.43% -38.86% -58.22% 0.00% 0.00%
EPS Q/Q Growth		 -108.97% 41.56% 46.88% -63.11% 0.00% 0.00% -44.98% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -11.31% -4.88% 9.00% 2.85% -26.62% 41.68% 535.85% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 -47.54% 41.64% 6.21% -113.59% 536.69% -67.55% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 2.23% -2.89% 2.43% 6.65% -34.50% 7.76% -14.87% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 59.82% 61.72% 61.91% 54.25% 42.63% 24.63% 20.90% 21.29% 23.44%
EBITDA Margin		 20.21% 22.68% 19.87% 15.32% 7.07% 2.84% 1.92% 3.42% 22.36%
Operating Margin		 9.21% 12.01% 9.97% 7.11% -0.36% -1.58% -0.47% 0.03% 3.72%
EBIT Margin		 9.21% 12.01% 9.97% 7.11% -0.36% -1.58% -0.47% 0.86% 19.67%
Profit (Net Income) Margin		 -1.04% 15.20% -8.77% 9.69% -8.76% 6.78% 2.39% 5.96% 11.70%
Tax Burden Percent		 46.10% 85.65% 75.08% 83.94% 75.67% 82.30% 115.74% -388.45% 67.99%
Interest Burden Percent		 -24.46% 147.79% -117.18% 162.35% 3,236.69% -522.66% -444.19% -178.24% 87.48%
Effective Tax Rate		 0.00% 14.35% 0.00% 16.06% 0.00% 17.70% -15.74% 0.00% 32.01%
Return on Invested Capital (ROIC)		 8.29% 12.89% 9.99% 11.20% -0.49% -3.90% -4.95% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.19% 6.61% 28.44% 7.63% 9.56% -18.48% -17.01% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -8.93% -3.27% -15.64% -5.05% -5.95% 11.55% 11.75% 0.00% 0.00%
Return on Equity (ROE)		 -0.64% 9.62% -5.65% 6.16% -6.43% 7.65% 6.80% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 7.49% 20.63% -25.35% -6.08% 39.93% -45.34% -204.95% 0.00% 0.00%
Operating Return on Assets (OROA)		 3.89% 5.23% 4.26% 2.72% -0.14% -0.97% -0.73% 0.00% 0.00%
Return on Assets (ROA)		 -0.44% 6.62% -3.75% 3.71% -3.52% 4.18% 3.77% 0.00% 0.00%
Return on Common Equity (ROCE)		 -0.64% 9.55% -5.61% 6.16% -6.43% 7.65% 6.80% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 -0.66% 9.27% -5.91% 6.04% -6.73% 7.36% 3.40% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 23 38 26 22 -1.09 -8.68 -4.37 0.19 21
NOPAT Margin		 6.44% 10.29% 6.98% 5.97% -0.25% -1.30% -0.54% 0.02% 2.53%
Net Nonoperating Expense Percent (NNEP)		 -8.89% 6.28% -18.46% 3.57% -10.05% 14.57% 12.05% 0.00% 0.00%
Return On Investment Capital (ROIC_SIMPLE)		 3.78% 6.27% 4.54% - - - - - -
Cost of Revenue to Revenue		 40.18% 38.28% 38.09% 45.75% 57.37% 75.37% 79.10% 78.71% 76.56%
SG&A Expenses to Revenue		 20.90% 21.08% 19.17% 20.76% 17.61% 14.97% 15.71% 15.36% 14.97%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 50.62% 49.71% 51.94% 47.14% 42.99% 26.20% 21.37% 21.26% 19.72%
Earnings before Interest and Taxes (EBIT)		 33 44 37 26 -1.55 -11 -3.77 7.23 167
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 73 83 73 56 31 19 16 29 190
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 1.38 0.84 0.79 0.75 0.41 0.59 0.63 0.00 0.00
Price to Tangible Book Value (P/TBV)		 1.59 0.97 0.91 0.86 0.47 0.66 0.71 0.00 0.00
Price to Revenue (P/Rev)		 2.18 1.38 1.17 1.20 0.53 0.54 0.44 0.00 0.00
Price to Earnings (P/E)		 0.00 9.20 0.00 12.37 0.00 7.95 18.39 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 10.87% 0.00% 8.09% 0.00% 12.58% 5.44% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.77 0.66 0.61 0.30 0.00 0.05 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.38 0.51 0.50 0.17 0.00 0.02 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 6.82 2.25 2.53 1.12 0.00 0.68 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 14.98 4.25 5.04 2.42 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 21.40 4.96 7.21 2.88 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.06 2.55 1.45 0.27 0.00 0.14 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 23.70 3.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.08 0.00 0.02 0.00 0.27 0.44 0.43 0.00 0.00
Long-Term Debt to Equity		 0.02 0.00 0.00 0.00 0.00 0.43 0.42 0.00 0.00
Financial Leverage		 -0.52 -0.50 -0.55 -0.66 -0.62 -0.63 -0.69 0.00 0.00
Leverage Ratio		 1.46 1.45 1.51 1.66 1.83 1.83 1.80 0.00 0.00
Compound Leverage Factor		 -0.36 2.15 -1.77 2.69 59.12 -9.55 -8.02 0.00 0.00
Debt to Total Capital		 7.28% 0.00% 1.77% 0.00% 21.23% 30.49% 30.11% 0.00% 0.00%
Short-Term Debt to Total Capital		 5.66% 0.00% 1.77% 0.00% 21.23% 0.80% 0.70% 0.00% 0.00%
Long-Term Debt to Total Capital		 1.62% 0.00% 0.00% 0.00% 0.00% 29.69% 29.41% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 1.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 92.72% 100.00% 96.71% 100.00% 78.77% 69.51% 69.89% 0.00% 0.00%
Debt to EBITDA		 0.61 0.00 0.14 0.00 4.96 14.20 15.81 0.00 0.00
Net Debt to EBITDA		 -3.97 0.00 -3.45 0.00 -12.61 -18.28 -25.36 0.00 0.00
Long-Term Debt to EBITDA		 0.14 0.00 0.00 0.00 0.00 13.83 15.44 0.00 0.00
Debt to NOPAT		 1.93 0.00 0.39 0.00 -140.24 -31.13 -56.29 0.00 0.00
Net Debt to NOPAT		 -12.44 0.00 -9.83 0.00 356.13 40.07 90.29 0.00 0.00
Long-Term Debt to NOPAT		 0.43 0.00 0.00 0.00 0.00 -30.31 -54.97 0.00 0.00
Altman Z-Score		 3.21 2.91 2.53 2.34 1.35 1.73 2.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.74% 0.75% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 1.16 1.37 1.12 1.15 0.51 1.04 0.93 0.00 0.00
Quick Ratio		 1.08 1.28 1.01 1.07 0.48 0.96 0.80 0.00 0.00
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 21 60 -65 -12 89 -101 -181 0.19 0.00
Operating Cash Flow to CapEx		 3,410.71% 0.00% 523.27% 420.16% 721.78% 715.03% 162.78% 366.71% 0.00%
Free Cash Flow to Firm to Interest Expense		 27.33 88.31 -163.54 -10.58 9.63 -8.10 -9.08 0.01 0.00
Operating Cash Flow to Interest Expense		 64.41 107.20 320.36 204.07 12.69 7.53 1.04 1.28 0.00
Operating Cash Flow Less CapEx to Interest Expense		 62.52 108.99 259.14 155.50 10.93 6.48 0.40 0.93 0.00
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.42 0.44 0.43 0.38 0.40 0.62 1.57 0.00 0.00
Accounts Receivable Turnover		 15.27 14.16 12.72 15.35 21.25 35.78 0.00 0.00 0.00
Inventory Turnover		 41.50 40.94 36.65 51.22 67.15 82.57 0.00 0.00 0.00
Fixed Asset Turnover		 0.96 0.94 0.98 1.10 1.30 2.14 0.00 0.00 0.00
Accounts Payable Turnover		 2.24 1.92 1.55 1.74 2.35 4.23 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 23.90 25.79 28.69 23.77 17.18 10.20 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 8.79 8.92 9.96 7.13 5.44 4.42 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 163.23 189.72 234.97 210.15 155.48 86.28 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -130.53 -155.02 -196.32 -179.25 -132.86 -71.66 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 283 280 303 212 178 268 176 0.00 0.00
Invested Capital Turnover		 1.29 1.25 1.43 1.88 1.94 3.01 9.19 0.00 0.00
Increase / (Decrease) in Invested Capital		 2.27 -23 91 34 -90 92 176 0.00 0.00
Enterprise Value (EV)		 499 186 185 63 -157 13 -38 0.00 0.00
Market Capitalization		 790 505 429 439 230 361 357 0.00 0.00
Book Value per Share		 $251.80 $263.38 $240.37 $258.27 $248.22 $270.84 $250.69 $0.00 $0.00
Tangible Book Value per Share		 $218.70 $229.65 $206.73 $224.43 $214.09 $241.23 $220.74 $0.00 $0.00
Total Capital		 618 599 566 588 717 887 816 0.00 0.00
Total Debt		 45 0.00 10 0.00 152 270 246 0.00 0.00
Total Long-Term Debt		 10 0.00 0.00 0.00 0.00 263 240 0.00 0.00
Net Debt		 -290 -319 -253 -376 -387 -348 -394 0.00 0.00
Capital Expenditures (CapEx)		 1.46 -1.22 24 54 16 13 13 7.03 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -75 -78 -81 -104 -108 -100 -85 0.00 0.00
Debt-free Net Working Capital (DFNWC)		 58 41 26 21 12 13 -2.33 0.00 0.00
Net Working Capital (NWC)		 23 41 16 21 -141 5.57 -8.05 0.00 0.00
Net Nonoperating Expense (NNE)		 27 -18 58 -14 37 -54 -24 -50 -78
Net Nonoperating Obligations (NNO)		 -290 -319 -253 -376 -387 -348 -394 0.00 0.00
Total Depreciation and Amortization (D&A)		 40 39 36 30 32 30 19 21 23
Debt-free, Cash-free Net Working Capital to Revenue		 -20.82% -21.49% -22.04% -28.47% -24.85% -14.94% -10.46% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 16.10% 11.35% 6.99% 5.78% 2.67% 1.90% -0.29% 0.00% 0.00%
Net Working Capital to Revenue		 6.43% 11.35% 4.28% 5.78% -32.44% 0.83% -0.99% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($13.45) $189.49 ($128.92) $134.20 ($132.06) $131.64 $55.71 $136.01 $271.22
Adjusted Weighted Average Basic Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 0.00 0.00
Adjusted Diluted Earnings per Share		 ($13.45) $189.49 ($107.43) $22.37 ($132.06) $131.64 $55.71 $136.01 $271.22
Adjusted Weighted Average Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 0.00 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($132.06) $131.64 $55.71 $136.01 $271.22
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 12 29 28 26 15 -1.95 1.33 1.44 21
Normalized NOPAT Margin		 3.43% 8.03% 7.65% 7.03% 3.57% -0.29% 0.16% 0.17% 2.53%
Pre Tax Income Margin		 -2.25% 17.75% -11.68% 11.55% -11.58% 8.24% 2.07% -1.53% 17.21%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 43.24 64.43 92.03 23.22 -0.17 -0.85 -0.19 0.36 7.99
NOPAT to Interest Expense		 30.27 55.18 64.42 19.49 -0.12 -0.70 -0.22 0.01 1.03
EBIT Less CapEx to Interest Expense		 41.35 66.22 30.80 -25.35 -1.93 -1.90 -0.83 0.01 7.99
NOPAT Less CapEx to Interest Expense		 28.38 56.98 3.19 -29.08 -1.88 -1.75 -0.86 -0.34 1.03
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Biglari

This table displays calculated financial ratios and metrics derived from Biglari's official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.50% -0.58% -2.56% -0.80% -7.92% -1.19% 1.27% 5.63% -0.50% 12.12%
EBITDA Growth		 8.05% -53.16% 43.12% -17.78% -25.21% -40.85% 123.69% 166.91% 12.97% 532.46%
EBIT Growth		 8.10% -82.75% 95.95% -38.18% -27.42% -51.68% 110.84% 1,427.95% -30.68% 318.48%
NOPAT Growth		 -14.07% -81.73% 111.60% -38.22% -19.28% 45.04% -24.21% 69.57% -21.60% 1,779.97%
Net Income Growth		 -123.01% 156.84% -2,668.76% -65.55% 358.60% -276.39% 102.54% 22,092.28% 301.82% 400.30%
EPS Growth		 -146.39% 158.69% -2,688.70% -64.21% 99.29% -249.32% 102.26% 22,705.08% 244.48% 423.44%
Operating Cash Flow Growth		 -26.03% -37.32% -84.61% -4.01% -13.34% -73.82% -11.57% -5.54% 60.20% 172.70%
Free Cash Flow Firm Growth		 -97.02% -30.57% 82.88% 128.36% 130.15% 124.62% 22.07% -10.14% -207.91% -217.85%
Invested Capital Growth		 0.81% -4.24% 6.58% -4.42% -7.45% -2.38% 12.57% 31.06% 42.93% 48.82%
Revenue Q/Q Growth		 0.78% -0.81% 1.89% -1.34% -0.30% -2.78% 3.73% -8.41% 6.98% -0.36%
EBITDA Q/Q Growth		 2.13% -51.05% 83.29% 17.91% -55.73% 49.58% 5.30% 7.26% -64.99% 159.92%
EBIT Q/Q Growth		 22.64% -82.04% 246.60% 41.58% -80.43% 104.03% 9.34% 66.23% -86.97% 145.79%
NOPAT Q/Q Growth		 15.78% -80.97% 215.86% 23.50% -75.38% 120.32% -7.77% 61.36% -55.76% 15.13%
Net Income Q/Q Growth		 -131.98% 166.66% -313.43% -49.42% 178.99% -3,112.47% -97.14% 573.28% -69.62% 143.43%
EPS Q/Q Growth		 -145.13% 166.77% -280.05% -36.68% 157.10% -3,045.03% -97.51% 376.07% -57.22% 144.66%
Operating Cash Flow Q/Q Growth		 67.32% 502.52% -90.67% -21.38% 41.78% 47.98% -41.80% -29.03% -57.18% 399.92%
Free Cash Flow Firm Q/Q Growth		 -94.78% 464.55% -124.50% -36.17% 21.79% 189.88% 59.42% 32.13% 0.58% -184.57%
Invested Capital Q/Q Growth		 2.23% -4.69% 9.20% -5.25% -2.89% 6.08% -2.07% -8.26% 2.43% 22.33%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 58.91% 59.95% 58.95% 61.52% 60.99% 59.54% 62.66% 63.70% 66.69% 60.71%
EBITDA Margin		 15.84% 15.63% 31.67% 17.61% 14.73% 33.18% 21.56% 21.24% 18.14% 55.42%
Operating Margin		 4.77% 3.92% 21.67% 6.37% 4.44% 22.61% 10.77% 10.22% 5.63% 14.01%
EBIT Margin		 4.77% 3.92% 21.67% 6.37% 4.44% 22.61% 10.77% 10.22% 5.63% 46.24%
Profit (Net Income) Margin		 -11.27% 35.53% -52.87% 25.24% 49.24% -62.15% 2.01% 72.68% 9.89% 34.81%
Tax Burden Percent		 57.20% 74.15% 76.60% 76.81% 88.06% 76.35% 64.82% 76.85% 79.18% 76.95%
Interest Burden Percent		 -412.87% 1,221.48% -318.62% 515.97% 1,259.79% -360.00% 28.72% 925.29% 221.75% 97.85%
Effective Tax Rate		 0.00% 25.85% 0.00% 23.19% 11.94% 0.00% 35.18% 23.15% 20.82% 23.05%
Return on Invested Capital (ROIC)		 4.30% 3.72% 19.55% 6.56% 4.90% 20.21% 10.17% 11.96% 6.38% 16.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.67% -6.20% 39.44% 1.34% -9.48% 47.56% 11.70% -4.30% 4.68% 9.27%
Return on Net Nonoperating Assets (RNNOA)		 -4.51% 3.18% -20.74% -0.75% 4.69% -22.36% -6.34% 2.56% -2.57% -5.27%
Return on Equity (ROE)		 -0.21% 6.90% -1.19% 5.81% 9.59% -2.15% 3.83% 14.52% 3.81% 10.82%
Cash Return on Invested Capital (CROIC)		 7.49% 14.22% 6.09% 25.36% 20.63% 14.53% -0.54% -14.07% -25.35% -28.15%
Operating Return on Assets (OROA)		 2.02% 1.68% 9.24% 2.59% 1.93% 9.99% 4.85% 4.25% 2.41% 19.14%
Return on Assets (ROA)		 -4.76% 15.19% -22.54% 10.27% 21.44% -27.45% 0.90% 30.24% 4.23% 14.41%
Return on Common Equity (ROCE)		 -0.21% 6.90% -1.19% 5.77% 9.52% -2.13% 3.83% 14.41% 3.78% 10.73%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.50% -6.59% 2.03% 0.00% 3.70% 17.71% 5.48% 0.00% -8.74%
Net Operating Profit after Tax (NOPAT)		 3.05 2.63 14 4.38 3.54 14 6.53 7.08 4.39 9.92
NOPAT Margin		 3.34% 2.91% 15.17% 4.89% 3.91% 15.83% 6.98% 7.85% 4.46% 10.78%
Net Nonoperating Expense Percent (NNEP)		 -4.37% 9.93% -19.89% 5.23% 14.38% -27.35% -1.53% 16.27% 1.70% 6.81%
Return On Investment Capital (ROIC_SIMPLE)		 0.49% - - - 0.59% - - - 0.78% -
Cost of Revenue to Revenue		 41.09% 40.05% 41.05% 38.48% 39.01% 40.46% 37.34% 36.30% 33.31% 39.29%
SG&A Expenses to Revenue		 21.11% 21.58% 20.47% 20.43% 24.72% 20.14% 20.32% 19.14% 22.68% 16.81%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 54.13% 56.02% 37.29% 55.15% 56.55% 36.94% 51.89% 53.48% 61.06% 46.70%
Earnings before Interest and Taxes (EBIT)		 4.35 3.55 20 5.70 4.02 21 10 9.22 5.54 43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 14 14 29 16 13 30 20 19 18 51
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.38 0.88 1.03 0.96 0.84 0.93 0.98 0.85 0.79 0.68
Price to Tangible Book Value (P/TBV)		 1.59 1.00 1.19 1.09 0.97 1.07 1.12 0.98 0.91 0.80
Price to Revenue (P/Rev)		 2.18 1.46 1.63 1.63 1.38 1.38 1.62 1.40 1.17 0.99
Price to Earnings (P/E)		 0.00 10.32 0.00 46.89 9.20 25.37 5.55 15.75 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 9.69% 0.00% 2.13% 10.87% 3.94% 18.02% 6.35% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.77 0.73 1.07 0.90 0.66 0.86 0.96 0.68 0.61 0.43
Enterprise Value to Revenue (EV/Rev)		 1.38 0.56 0.85 0.66 0.51 0.66 0.70 0.50 0.50 0.34
Enterprise Value to EBITDA (EV/EBITDA)		 6.82 2.81 3.51 3.02 2.25 2.84 3.31 2.40 2.53 1.77
Enterprise Value to EBIT (EV/EBIT)		 14.98 6.14 6.19 5.94 4.25 5.46 6.89 4.71 5.04 3.22
Enterprise Value to NOPAT (EV/NOPAT)		 21.40 7.26 8.84 4.23 4.96 7.00 8.97 6.00 7.21 4.59
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.06 3.62 4.96 3.32 2.55 3.23 2.08 1.49 1.45 1.07
Enterprise Value to Free Cash Flow (EV/FCFF)		 23.70 5.05 18.09 3.48 3.10 5.84 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.08 0.02 0.00 0.00 0.00 0.03 0.01 0.01 0.02 0.06
Long-Term Debt to Equity		 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06
Financial Leverage		 -0.52 -0.51 -0.53 -0.56 -0.50 -0.47 -0.54 -0.59 -0.55 -0.57
Leverage Ratio		 1.46 1.46 1.43 1.45 1.45 1.53 1.48 1.48 1.51 1.56
Compound Leverage Factor		 -6.04 17.83 -4.57 7.46 18.30 -5.51 0.43 13.73 3.34 1.52
Debt to Total Capital		 7.28% 1.47% 0.01% 0.00% 0.00% 3.30% 0.58% 1.04% 1.77% 5.21%
Short-Term Debt to Total Capital		 5.66% 0.00% 0.01% 0.00% 0.00% 3.30% 0.58% 1.04% 1.77% 0.00%
Long-Term Debt to Total Capital		 1.62% 1.47% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.21%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.47% 1.52% 1.55%
Common Equity to Total Capital		 92.72% 98.53% 99.99% 100.00% 100.00% 96.70% 99.42% 97.49% 96.71% 93.24%
Debt to EBITDA		 0.61 0.12 0.00 0.00 0.00 0.22 0.05 0.08 0.14 0.42
Net Debt to EBITDA		 -3.97 -4.51 -3.17 0.00 0.00 -3.08 -4.38 -4.38 -3.45 -3.51
Long-Term Debt to EBITDA		 0.14 0.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.42
Debt to NOPAT		 1.93 0.32 0.00 0.00 0.00 0.54 0.12 0.21 0.39 1.09
Net Debt to NOPAT		 -12.44 -11.66 -7.97 0.00 0.00 -7.59 -11.87 -10.94 -9.83 -9.11
Long-Term Debt to NOPAT		 0.43 0.32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.09
Altman Z-Score		 3.10 2.74 3.12 2.87 2.76 2.70 2.84 2.57 2.41 2.25
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.75% 0.74% 0.81% 0.00% 0.77% 0.75% 0.78%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.16 1.47 1.43 1.42 1.37 1.10 1.26 1.25 1.12 1.22
Quick Ratio		 1.08 1.38 1.32 1.32 1.28 1.02 1.17 1.12 1.01 1.10
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.78 15 -4.08 17 26 21 -24 -59 -87 -87
Operating Cash Flow to CapEx		 533.82% 309.41% 0.00% 520.27% 1,071.16% 0.00% 0.00% 525.81% 879.42% 1,329.08%
Free Cash Flow to Firm to Interest Expense		 1.71 54.11 -97.19 0.00 123.12 81.81 -596.14 -351.83 -260.74 -1,299.57
Operating Cash Flow to Interest Expense		 39.64 39.11 42.50 0.00 114.75 65.49 289.88 119.30 84.55 978.36
Operating Cash Flow Less CapEx to Interest Expense		 32.21 26.47 258.38 0.00 104.03 82.21 362.43 96.61 74.94 904.75
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.42 0.43 0.43 0.41 0.44 0.44 0.45 0.42 0.43 0.41
Accounts Receivable Turnover		 15.27 15.34 17.35 14.23 14.16 14.46 15.11 15.08 12.72 14.83
Inventory Turnover		 41.50 38.70 39.57 38.16 40.94 38.33 38.73 33.86 36.65 42.55
Fixed Asset Turnover		 0.96 0.95 0.94 0.95 0.94 0.93 1.02 1.01 0.98 0.96
Accounts Payable Turnover		 2.24 1.94 2.13 1.84 1.92 1.52 1.63 1.54 1.55 1.43
Days Sales Outstanding (DSO)		 23.90 23.80 21.04 25.65 25.79 25.24 24.15 24.20 28.69 24.60
Days Inventory Outstanding (DIO)		 8.79 9.43 9.22 9.56 8.92 9.52 9.42 10.78 9.96 8.58
Days Payable Outstanding (DPO)		 163.23 187.81 171.40 198.68 189.72 240.01 223.81 237.33 234.97 255.11
Cash Conversion Cycle (CCC)		 -130.53 -154.58 -141.14 -163.47 -155.02 -205.24 -190.24 -202.35 -196.32 -221.93
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 283 276 290 266 280 289 272 278 303 296
Invested Capital Turnover		 1.29 1.28 1.29 1.34 1.25 1.28 1.46 1.52 1.43 1.49
Increase / (Decrease) in Invested Capital		 2.27 -12 18 -12 -23 -7.04 30 66 91 97
Enterprise Value (EV)		 499 203 310 240 186 248 260 188 185 126
Market Capitalization		 790 528 589 593 505 517 604 522 429 367
Book Value per Share		 $251.80 $264.45 $250.13 $271.84 $263.38 $244.96 $270.86 $268.93 $240.37 $235.77
Tangible Book Value per Share		 $218.70 $231.12 $216.94 $238.16 $229.65 $211.36 $237.18 $235.23 $206.73 $202.40
Total Capital		 618 611 569 619 599 576 620 628 566 575
Total Debt		 45 9.00 0.05 0.00 0.00 19 3.60 6.50 10 30
Total Long-Term Debt		 10 9.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30
Net Debt		 -290 -325 -279 -353 -319 -269 -344 -343 -253 -250
Capital Expenditures (CapEx)		 3.37 3.48 -9.07 3.68 2.27 -4.38 -2.90 3.79 3.19 4.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -75 -80 -75 -82 -78 -86 -84 -80 -81 -103
Debt-free Net Working Capital (DFNWC)		 58 53 45 50 41 33 35 39 26 32
Net Working Capital (NWC)		 23 53 45 50 41 14 32 33 16 32
Net Nonoperating Expense (NNE)		 13 -29 62 -18 -41 71 4.66 -58 -5.34 -22
Net Nonoperating Obligations (NNO)		 -290 -325 -279 -353 -319 -269 -344 -343 -253 -250
Total Depreciation and Amortization (D&A)		 10 11 9.12 10 9.33 9.61 10 9.94 12 8.46
Debt-free, Cash-free Net Working Capital to Revenue		 -20.82% -22.01% -20.73% -22.52% -21.49% -22.95% -22.42% -21.44% -22.04% -27.94%
Debt-free Net Working Capital to Revenue		 16.10% 14.70% 12.54% 13.76% 11.35% 8.77% 9.41% 10.47% 6.99% 8.64%
Net Working Capital to Revenue		 6.43% 14.70% 12.53% 13.76% 11.35% 3.68% 8.45% 8.72% 4.28% 8.64%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($51.80) $114.77 ($171.89) $95.47 $111.66 ($234.66) $7.97 $266.74 $56.03 $130.96
Adjusted Weighted Average Basic Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M
Adjusted Diluted Earnings per Share		 ($51.80) $114.77 ($171.89) $95.47 $111.66 ($234.66) $7.97 $266.74 $56.03 $130.96
Adjusted Weighted Average Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M 2.28M
Normalized Net Operating Profit after Tax (NOPAT)		 3.05 2.59 3.21 4.09 4.92 5.42 7.09 7.68 7.16 9.92
Normalized NOPAT Margin		 3.34% 2.86% 3.52% 4.57% 5.43% 5.96% 7.57% 8.52% 7.27% 10.78%
Pre Tax Income Margin		 -19.71% 47.92% -69.03% 32.86% 55.91% -81.39% 3.09% 94.57% 12.49% 45.24%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 9.58 12.90 470.14 0.00 18.98 78.47 251.93 55.19 16.70 635.12
NOPAT to Interest Expense		 6.71 9.56 329.10 0.00 16.71 54.93 163.31 42.41 13.22 148.10
EBIT Less CapEx to Interest Expense		 2.16 0.26 686.02 0.00 8.27 95.19 324.48 32.50 7.08 561.51
NOPAT Less CapEx to Interest Expense		 -0.72 -3.08 544.98 0.00 6.00 71.65 235.86 19.72 3.61 74.49
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Biglari's Financials

When does Biglari's financial year end?

According to the most recent income statement we have on file, Biglari's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Biglari's net income changed over the last 8 years?

Biglari's net income appears to be on a downward trend, with a most recent value of -$3.76 million in 2024, falling from $99.45 million in 2016. The previous period was $55.54 million in 2023.

What is Biglari's operating income?
Biglari's total operating income in 2024 was $33.34 million, based on the following breakdown:
  • Total Gross Profit: $216.63 million
  • Total Operating Expenses: $183.29 million
How has Biglari revenue changed over the last 8 years?

Over the last 8 years, Biglari's total revenue changed from $850.08 million in 2016 to $362.11 million in 2024, a change of -57.4%.

How much debt does Biglari have?

Biglari's total liabilities were at $293.17 million at the end of 2024, a 17.2% increase from 2023, and a 29,317,200,000.0% increase since 2017.

How much cash does Biglari have?

In the past 7 years, Biglari's cash and equivalents has ranged from $0.00 in 2017 to $67.77 million in 2019, and is currently $30.71 million as of their latest financial filing in 2024.

How has Biglari's book value per share changed over the last 8 years?

Over the last 8 years, Biglari's book value per share changed from 0.00 in 2016 to 251.80 in 2024, a change of 25,179.5%.


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This page (NYSE:BH.A) was last updated on 5/29/2025 by MarketBeat.com Staff
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