Biglari Holdings Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Biglari Holdings Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2020 | Dec 31, 2020 | $99.65M | Mar 1, 2021 |
| FY2020 | Sep 30, 2020 | $101.84M | Mar 1, 2021 |
| FY2020 | Jun 30, 2020 | $96.50M | Mar 1, 2021 |
| FY2020 | Mar 31, 2020 | $135.70M | Mar 1, 2021 |
| FY2020 | Dec 31, 2019 | $158.42M | Mar 1, 2021 |
| FY2020 | Sep 30, 2019 | $160.22M | Mar 1, 2021 |
| FY2020 | Jun 30, 2019 | $168.34M | Mar 1, 2021 |
| FY2020 | Mar 31, 2019 | $181.86M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $195.35M | Feb 24, 2020 |
| FY2019 | Sep 30, 2018 | $203.58M | Feb 24, 2020 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $395.26M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $362.11M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $365.32M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $368.23M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $366.11M | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $433.68M | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | $668.84M | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | $775.69M | Mar 1, 2021 |
Gross Profit
Revenue minus the cost of goods sold (COGS). Gross profit shows how much revenue remains to cover operating expenses, R&D, and administrative costs before calculating operating income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2020 | Dec 31, 2020 | $34.58M | Mar 1, 2021 |
| FY2020 | Sep 30, 2020 | $33.76M | Mar 1, 2021 |
| FY2020 | Jun 30, 2020 | $32.72M | Mar 1, 2021 |
| FY2020 | Mar 31, 2020 | $35.89M | Mar 1, 2021 |
| FY2020 | Dec 31, 2019 | $43.31M | Mar 1, 2021 |
| FY2020 | Sep 30, 2019 | $38.47M | Mar 1, 2021 |
| FY2020 | Jun 30, 2019 | $30.45M | Mar 1, 2021 |
| FY2020 | Mar 31, 2019 | $22.84M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $33.15M | Feb 24, 2020 |
| FY2019 | Sep 30, 2018 | $36.15M | Feb 24, 2020 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($37.49M) | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | ($3.76M) | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $54.95M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | ($32.02M) | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $35.48M | Feb 26, 2024 |
| FY2020 | Dec 31, 2020 | $36.33M | Mar 1, 2021 |
| FY2020 | Sep 30, 2020 | $21.10M | Mar 1, 2021 |
| FY2020 | Jun 30, 2020 | $42.47M | Mar 1, 2021 |
| FY2020 | Mar 31, 2020 | ($137.89M) | Mar 1, 2021 |
| FY2020 | Dec 31, 2019 | $13.61M | Mar 1, 2021 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $86.84M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $75.67M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $77.00M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $70.61M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $76.02M | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $76.36M | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | $100.15M | Feb 28, 2022 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $106.96M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $49.66M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $73.00M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $127.83M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $228.77M | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $117.56M | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | $93.68M | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | $20.68M | Mar 1, 2021 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $30.35M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $30.59M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $23.41M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $29.75M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $64.55M | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $20.70M | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | $17.68M | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | $15.29M | Mar 1, 2021 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.03B | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $866.13M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $849.42M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $828.47M | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $894.81M | Feb 27, 2023 |
| FY2021 | Dec 31, 2020 | $1.02B | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | $1.14B | Mar 1, 2021 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $501.95M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $293.17M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $250.09M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $272.91M | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $307.11M | Feb 27, 2023 |
| FY2021 | Dec 31, 2020 | $453.14M | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | $523.01M | Mar 1, 2021 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $523.43M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $572.96M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $599.33M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $546.97M | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $587.70M | Feb 27, 2023 |
| FY2021 | Dec 31, 2020 | $564.83M | Feb 28, 2022 |
| FY2021 | Dec 31, 2019 | $616.30M | Feb 28, 2022 |
| FY2021 | Dec 31, 2018 | $570.46M | Feb 28, 2022 |
| FY2020 | Dec 31, 2017 | $571.33M | Mar 1, 2021 |
| FY2019 | Dec 31, 2016 | $531.94M | Feb 24, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $52.57M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $52.50M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $52.53M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $53.51M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $53.55M | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $53.60M | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | $40.04M | Feb 28, 2022 |
| FY2021 | Dec 31, 2018 | $40.05M | Feb 28, 2022 |
| FY2020 | Dec 31, 2017 | $40.08M | Mar 1, 2021 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $590.21M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $627.70M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $631.46M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $576.51M | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $608.53M | Feb 27, 2023 |
| FY2021 | Dec 31, 2020 | $573.05M | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | $611.04M | Mar 1, 2021 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $268.78M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $30.71M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $28.07M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $37.47M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $42.35M | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $24.50M | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | $67.77M | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | $48.56M | Mar 1, 2021 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (143) | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | (13) | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | 189 | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | (107) | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | 111 | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | (110) | Feb 27, 2023 |
| FY2021 | Dec 31, 2019 | 131 | Feb 28, 2022 |