BH
Biglari Holdings Inc
NYSE: BH · CONSUMER CYCLICAL · RESTAURANTS
$309.21
+3.97% today
Updated 2026-04-30
Market cap
$971.06M
P/E ratio
—
P/S ratio
2.46x
EPS (TTM)
$-28.77
Dividend yield
—
52W range
$223 – $484
Volume
0.1M
Biglari Holdings Inc (BH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $638.82M | $654.14M | $610.06M | $627.04M | $673.78M | $709.20M | $734.26M | $755.82M | $828.08M | $861.45M | $850.08M | $839.80M | $809.89M | $668.84M | $433.68M | $366.11M | $368.23M | $365.32M | $362.11M | $395.26M |
| Revenue growth (YoY) | — | +2.4% | -6.7% | +2.8% | +7.5% | +5.3% | +3.5% | +2.9% | +9.6% | +4.0% | -1.3% | -1.2% | -3.6% | -17.4% | -35.2% | -15.6% | +0.6% | -0.8% | -0.9% | +9.2% |
| Cost of revenue | $462.43M | $487.24M | $151.19M | $164.97M | $501.57M | $523.91M | $545.14M | $566.85M | $659.35M | $678.26M | $668.28M | $687.28M | $661.44M | $533.66M | $296.73M | $223.33M | $215.45M | $248.94M | $223.49M | $286.63M |
| Gross profit | $176.39M | $166.90M | $458.87M | $462.07M | $172.21M | $185.29M | $189.13M | $188.97M | $168.72M | $183.19M | $181.79M | $152.52M | $148.46M | $135.18M | $136.95M | $142.78M | $152.78M | $116.38M | $138.62M | $108.64M |
| Gross margin | 27.6% | 25.5% | 75.2% | 73.7% | 25.6% | 26.1% | 25.8% | 25.0% | 20.4% | 21.3% | 21.4% | 18.2% | 18.3% | 20.2% | 31.6% | 39.0% | 41.5% | 31.9% | 38.3% | 27.5% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | $0.00 | — | — | — | — | — | — | — |
| SG&A | $96.23M | $102.82M | $432.90M | $376.22M | $58.18M | $65.38M | $82.35M | $95.45M | $128.47M | $135.13M | $127.26M | $130.81M | $132.91M | $100.15M | $76.36M | $62.09M | $56.69M | $64.37M | $63.09M | $86.84M |
| Operating income | $51.29M | $31.90M | $-7.69M | $7.19M | $50.02M | $52.49M | $43.18M | $31.35M | $12.70M | $23.28M | $31.61M | $267000.00 | $36.64M | $35.03M | $60.59M | $66.76M | $82.17M | $39.38M | $23.11M | $18.11M |
| Operating margin | 8.0% | 4.9% | -1.3% | 1.1% | 7.4% | 7.4% | 5.9% | 4.1% | 1.5% | 2.7% | 3.7% | 0.0% | 4.5% | 5.2% | 14.0% | 18.2% | 22.3% | 10.8% | 6.4% | 4.6% |
| EBITDA | $82.63M | $64.08M | $12.89M | $52.30M | $83.68M | $89.57M | $75.85M | $48.89M | $38.37M | $8.70M | $54.53M | $28.68M | $55.96M | $35.03M | $60.59M | $66.76M | $82.17M | $109.62M | $37.82M | $58.89M |
| EBITDA margin | 12.9% | 9.8% | 2.1% | 8.3% | 12.4% | 12.6% | 10.3% | 6.5% | 4.6% | 1.0% | 6.4% | 3.4% | 6.9% | 5.2% | 14.0% | 18.2% | 22.3% | 30.0% | 10.4% | 14.9% |
| EBIT | $53.66M | $31.90M | $-20.77M | $20.93M | $54.42M | $61.21M | $49.43M | $23.64M | $12.70M | $-16.08M | $31.61M | $7.23M | $36.64M | $5.45M | $28.37M | $36.71M | $45.73M | $70.64M | $-2.02M | $18.11M |
| Interest expense | $6.42M | $20.04M | $40.19M | $13.74M | $12.98M | $13.38M | $20.18M | $16.38M | $20.02M | $21.36M | $20.93M | $20.12M | $19.88M | $20.26M | $15.54M | $7.16M | $5.89M | $5.79M | $6.13M | $5.42M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $28.00M | $11.81M | $-22.98M | $6.00M | $28.09M | $34.56M | $21.59M | $140.27M | $100.83M | $-15.84M | $99.45M | $50.07M | $19.39M | $45.38M | $-37.99M | $35.48M | $-32.02M | $54.95M | $-3.76M | $-37.49M |
| Net income growth (YoY) | — | -57.8% | -294.6% | +126.1% | +368.4% | +23.0% | -37.5% | +549.6% | -28.1% | -115.7% | +727.7% | -49.7% | -61.3% | +134.0% | -183.7% | +193.4% | -190.2% | +271.6% | -106.8% | -897.3% |
| Profit margin | 4.4% | 1.8% | -3.8% | 1.0% | 4.2% | 4.9% | 2.9% | 18.6% | 12.2% | -1.8% | 11.7% | 6.0% | 2.4% | 6.8% | -8.8% | 9.7% | -8.7% | 15.0% | -1.0% | -9.5% |