Biglari Holdings Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $395.3M | $362.1M | $365.3M | $368.2M | $366.1M |
| Cost of revenue | $161.3M | $143.4M | $138.0M | $140.3M | $167.5M |
| Selling, general & administrative | $86.8M | $75.7M | $77.0M | $70.6M | $76.0M |
| Pretax income | -$47.7M | -$8.2M | $64.8M | -$43.0M | $42.3M |
| Income tax expense | -$10.2M | -$4.4M | $9.3M | -$10.7M | $6.8M |
| Net income | -$37.5M | -$3.8M | $54.9M | -$32.0M | $35.5M |
| Balance Sheet | |||||
| Cash and equivalents | $268.8M | $30.7M | $28.1M | $37.5M | $42.3M |
| Current assets | $378.5M | $170.6M | $152.6M | $150.7M | $164.8M |
| Total assets | $1.0B | $866.1M | $849.4M | $828.5M | $894.8M |
| Current liabilities | $156.0M | $147.3M | $111.1M | $134.9M | $143.6M |
| Total liabilities | $502.0M | $293.2M | $250.1M | $272.9M | $307.1M |
| Stockholders' equity | $523.4M | $573.0M | $599.3M | $547.0M | $587.7M |
| Cash Flow Statement | |||||
| Cash from operations | $107.0M | $49.7M | $73.0M | $127.8M | $228.8M |
| Depreciation and amortization | $40.8M | $39.8M | $39.0M | $36.4M | $30.1M |
| Capital expenditure | $30.4M | $30.6M | $23.4M | $29.7M | $64.5M |
| Free cash flow | $76.6M | $19.1M | $49.6M | $98.1M | $164.2M |
| Impairments | $1.3M | $1.1M | $3.9M | $3.5M | $4.6M |
Shares outstanding 2.3M
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.