B

Biglari Holdings Inc
NYSE:BH

Watchlist Manager
Biglari Holdings Inc
NYSE:BH
Watchlist
Price: 307.66 USD -2.3% Market Closed
Market Cap: $954.7m

Income Statement

Earnings Waterfall
Biglari Holdings Inc

Income Statement
Biglari Holdings Inc

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Income Statement
Currency: USD
Apr-2002 Jul-2002 Sep-2002 Dec-2002 Apr-2003 Jul-2003 Sep-2003 Dec-2003 Apr-2004 Jun-2004 Sep-2004 Dec-2004 Apr-2005 Jul-2005 Sep-2005 Dec-2005 Apr-2006 Jul-2006 Sep-2006 Dec-2006 Apr-2007 Jul-2007 Sep-2007 Dec-2007 Apr-2008 Jul-2008 Sep-2008 Dec-2008 Apr-2009 Jul-2009 Sep-2009 Dec-2009 Apr-2010 Jul-2010 Sep-2010 Dec-2010 Apr-2011 Jul-2011 Sep-2011 Dec-2011 Apr-2012 Jul-2012 Sep-2012 Dec-2012 Apr-2013 Jul-2013 Sep-2013 Dec-2013 Apr-2014 Jul-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025 Dec-2025
Revenue
Interest Expense
8
11
14
14
15
15
14
14
13
13
13
13
13
13
13
13
12
11
11
12
13
14
14
14
14
14
14
14
14
14
14
13
12
13
13
13
14
13
13
15
16
17
18
18
17
17
16
0
12
14
16
26
23
23
22
21
21
21
21
21
21
20
20
20
20
20
20
20
20
20
20
20
19
18
17
16
14
12
10
7
6
6
6
6
6
6
6
6
6
6
6
6
7
0
0
0
Revenue
458
N/A
460
+1%
459
0%
461
+1%
470
+2%
483
+3%
499
+3%
512
+3%
526
+3%
535
+2%
554
+3%
566
+2%
589
+4%
606
+3%
607
+0%
619
+2%
630
+2%
633
+0%
639
+1%
647
+1%
652
+1%
655
+0%
654
0%
643
-2%
632
-2%
622
-1%
611
-2%
607
-1%
605
0%
607
+0%
629
+4%
646
+3%
657
+2%
671
+2%
674
+0%
683
+1%
695
+2%
705
+1%
709
+1%
717
+1%
729
+2%
734
+1%
740
+1%
740
+0%
742
+0%
751
+1%
756
+1%
762
+1%
771
+1%
780
+1%
794
+2%
1 018
+28%
817
-20%
846
+4%
871
+3%
862
-1%
864
+0%
861
0%
859
0%
850
-1%
845
-1%
839
-1%
837
0%
840
+0%
839
0%
834
-1%
824
-1%
810
-2%
790
-3%
749
-5%
706
-6%
669
-5%
623
-7%
551
-12%
492
-11%
434
-12%
392
-10%
387
-1%
367
-5%
366
0%
357
-2%
359
+0%
369
+3%
368
0%
373
+1%
374
+0%
373
0%
365
-2%
365
0%
362
-1%
362
0%
362
+0%
368
+2%
377
+3%
387
+2%
395
+2%
Gross Profit
Cost of Revenue
(329)
(329)
(328)
(329)
(336)
(346)
(359)
(368)
(378)
(386)
(400)
(408)
(426)
(437)
(435)
(444)
(453)
(455)
(462)
(470)
(475)
(483)
(487)
(487)
(491)
(490)
(489)
(487)
(483)
(480)
(489)
(494)
(499)
(506)
(502)
(504)
(512)
(519)
(524)
(529)
(535)
(540)
(545)
(551)
(555)
(561)
(567)
(572)
(576)
(577)
(899)
(806)
(942)
(974)
(690)
(678)
(676)
(675)
(673)
(668)
(667)
(671)
(678)
(687)
(689)
(682)
(672)
(661)
(655)
(627)
(581)
(534)
(474)
(400)
(347)
(297)
(257)
(248)
(235)
(223)
(218)
(217)
(216)
(215)
(213)
(211)
(211)
(210)
(212)
(217)
(219)
(223)
(229)
(233)
(239)
(246)
Gross Profit
129
N/A
131
+2%
131
+0%
132
+1%
134
+2%
137
+2%
140
+2%
143
+2%
148
+3%
149
+1%
154
+3%
158
+2%
163
+3%
169
+4%
172
+2%
175
+2%
177
+1%
178
+0%
176
-1%
178
+1%
177
0%
172
-3%
167
-3%
156
-6%
141
-10%
132
-6%
122
-7%
119
-2%
122
+2%
128
+4%
140
+10%
153
+9%
157
+3%
165
+5%
172
+4%
179
+4%
184
+3%
186
+1%
185
0%
188
+1%
194
+3%
194
+0%
195
+0%
189
-3%
187
-1%
189
+2%
189
0%
190
+1%
195
+3%
202
+4%
(105)
N/A
212
N/A
(125)
N/A
(128)
-3%
181
N/A
183
+1%
188
+3%
186
-1%
186
0%
182
-2%
178
-2%
168
-5%
158
-6%
153
-4%
149
-2%
152
+2%
152
0%
149
-2%
135
-9%
123
-9%
125
+2%
135
+8%
148
+10%
151
+1%
146
-3%
137
-6%
136
-1%
139
+2%
132
-5%
143
+8%
140
-2%
142
+2%
153
+8%
153
0%
160
+5%
163
+2%
162
-1%
155
-4%
152
-2%
144
-5%
142
-1%
139
-3%
138
0%
144
+4%
148
+3%
149
+1%
Operating Income
Operating Expenses
(86)
(85)
(81)
(82)
(83)
(85)
(94)
(96)
(99)
(100)
(99)
(102)
(106)
(112)
(115)
(119)
(122)
(124)
(123)
(126)
(128)
(135)
(138)
(135)
(133)
(140)
(140)
(140)
(136)
(119)
(119)
(129)
(125)
(125)
(122)
(126)
(130)
(131)
(132)
(133)
(139)
(145)
(151)
(153)
(156)
(160)
(166)
(170)
(171)
(182)
120
(191)
132
141
(157)
(160)
(157)
(153)
(152)
(150)
(149)
(148)
(148)
(152)
(155)
(155)
(155)
(152)
(153)
(147)
(140)
(130)
(119)
(114)
(110)
(109)
(100)
(99)
(97)
(106)
(107)
(106)
(106)
(107)
(110)
(115)
(119)
(116)
(117)
(116)
(118)
(116)
(119)
(124)
(124)
(128)
Selling, General & Administrative
(65)
(63)
(60)
(61)
(62)
(64)
(67)
(72)
(74)
(76)
(76)
(79)
(83)
(87)
(88)
(92)
(94)
(96)
(96)
(98)
(100)
(100)
(102)
(99)
(97)
(94)
(92)
(92)
(87)
(86)
(86)
(86)
(88)
(91)
(93)
(97)
(101)
(104)
(104)
(106)
(113)
(117)
(125)
(126)
(130)
(135)
(140)
(144)
(146)
(157)
(177)
(159)
(166)
(156)
(131)
(135)
(133)
(130)
(129)
(127)
(126)
(125)
(127)
(131)
(134)
(135)
(135)
(133)
(133)
(126)
(117)
(100)
(84)
(78)
(75)
(76)
(70)
(70)
(67)
(76)
(77)
(75)
(74)
(71)
(72)
(74)
(77)
(77)
(78)
(78)
(79)
(76)
(79)
(83)
(84)
(87)
Depreciation & Amortization
(20)
(22)
(23)
(24)
(24)
(24)
(24)
(25)
(25)
(25)
(25)
(25)
(26)
(26)
(27)
(28)
(28)
(29)
(29)
(30)
(31)
(32)
(32)
(33)
(33)
(34)
(34)
(33)
(33)
(32)
(31)
(31)
(30)
(30)
(29)
(29)
(29)
(29)
(28)
(28)
(28)
(27)
(26)
(26)
(26)
(26)
(25)
(25)
(25)
(25)
(25)
(32)
(25)
(25)
(26)
(25)
(24)
(23)
(23)
(23)
(23)
(23)
(22)
(21)
(21)
(20)
(20)
(19)
(20)
(20)
(23)
(30)
(34)
(36)
(36)
(32)
(29)
(30)
(30)
(30)
(31)
(31)
(32)
(36)
(39)
(41)
(42)
(39)
(39)
(38)
(39)
(40)
(40)
(41)
(40)
(40)
Other Operating Expenses
0
0
2
3
3
4
(3)
0
0
1
2
2
3
2
1
1
1
1
3
2
3
(3)
(3)
(3)
(3)
(12)
(14)
(15)
(16)
(1)
(2)
(12)
(7)
(5)
0
(1)
(1)
1
0
2
1
(0)
0
(0)
(0)
(0)
(1)
(1)
(1)
(1)
322
0
323
322
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
0
(1)
Operating Income
43
N/A
47
+9%
50
+8%
51
+1%
52
+2%
52
+1%
46
-12%
48
+4%
49
+3%
49
+0%
56
+13%
56
+1%
57
+1%
57
+1%
57
N/A
56
-1%
55
-1%
54
-2%
54
-1%
52
-3%
49
-6%
38
-23%
30
-22%
21
-27%
8
-64%
(8)
N/A
(18)
-116%
(21)
-18%
(14)
+35%
8
N/A
21
+157%
24
+12%
33
+38%
40
+23%
50
+25%
53
+6%
54
+2%
55
+1%
53
-2%
55
+3%
55
N/A
50
-10%
44
-12%
36
-17%
31
-16%
29
-5%
23
-21%
20
-13%
24
+18%
20
-16%
15
-26%
21
+42%
8
-64%
14
+80%
24
+79%
23
-4%
31
+32%
33
+9%
34
+2%
32
-7%
29
-8%
21
-29%
10
-52%
0
-97%
(5)
N/A
(3)
+39%
(3)
+6%
(4)
-23%
(18)
-376%
(24)
-32%
(15)
+37%
6
N/A
30
+438%
37
+25%
36
-4%
28
-21%
36
+27%
40
+10%
35
-11%
37
+4%
32
-12%
36
+11%
48
+34%
46
-4%
50
+9%
48
-3%
43
-11%
39
-8%
35
-12%
28
-18%
24
-15%
23
-5%
19
-16%
20
+1%
24
+22%
22
-9%
Pre-Tax Income
Interest Income Expense
(8)
(11)
(14)
(14)
(15)
(15)
(14)
(14)
(13)
(13)
(13)
(13)
(13)
(13)
(13)
(13)
(12)
(11)
(11)
(12)
(13)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(2)
(5)
(7)
(9)
(6)
(7)
(7)
(5)
(5)
(6)
(7)
(10)
(12)
(10)
155
175
173
201
34
25
164
159
153
146
(61)
(4)
52
(62)
115
11
(3)
62
(13)
16
(30)
(5)
21
51
93
114
58
(151)
(123)
(96)
(55)
207
113
72
10
(80)
(153)
(109)
(85)
(3)
99
(24)
16
(37)
(112)
22
(47)
(123)
21
(34)
(80)
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
0
0
0
(3)
(3)
(3)
(3)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(1)
(1)
(1)
(1)
(1)
(3)
(3)
(5)
(3)
(1)
(1)
(0)
(2)
(1)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(2)
(2)
(7)
(8)
(17)
(23)
(21)
(24)
(18)
(12)
(8)
(5)
(4)
(4)
(4)
(4)
(4)
(5)
8
10
11
27
14
16
24
9
9
11
Total Other Income
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
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
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Pre-Tax Income
35
N/A
36
+2%
36
+0%
36
+1%
37
+1%
38
+2%
32
-15%
34
+6%
36
+5%
36
+1%
42
+18%
43
+1%
44
+2%
44
+1%
44
+0%
44
-2%
44
+0%
43
-2%
42
-2%
40
-4%
36
-10%
24
-33%
15
-39%
8
-49%
(7)
N/A
(22)
-237%
(35)
-59%
(38)
-10%
(31)
+20%
(9)
+70%
7
N/A
21
+196%
27
+27%
32
+20%
41
+28%
46
+12%
46
N/A
47
+1%
48
+2%
50
+4%
49
-1%
43
-13%
31
-27%
22
-28%
16
-28%
181
+1 024%
196
+9%
192
-2%
224
+17%
52
-77%
39
-25%
185
+372%
167
-10%
167
0%
170
+2%
(37)
N/A
26
N/A
85
+227%
(28)
N/A
146
N/A
40
-73%
18
-55%
72
+306%
(13)
N/A
10
N/A
(33)
N/A
(8)
+75%
17
N/A
31
+85%
67
+117%
92
+36%
55
-40%
(138)
N/A
(109)
+21%
(82)
+25%
(50)
+38%
225
N/A
141
-37%
100
-29%
42
-57%
(52)
N/A
(122)
-134%
(65)
+47%
(43)
+34%
43
N/A
142
+233%
26
-81%
65
+145%
9
-87%
(57)
N/A
60
N/A
(8)
N/A
(79)
-867%
49
N/A
(2)
N/A
(48)
-2 894%
Net Income
Tax Provision
(13)
(13)
(13)
(13)
(13)
(13)
(11)
(12)
(13)
(13)
(15)
(15)
(15)
(15)
(14)
(14)
(14)
(14)
(14)
(13)
(11)
(6)
(3)
(1)
4
10
12
13
10
3
(1)
(6)
(9)
(11)
(12)
(14)
(14)
(12)
(14)
(14)
(14)
(12)
(7)
(3)
1
(61)
(74)
(81)
(77)
(18)
(10)
(65)
(70)
(64)
(59)
22
(1)
(23)
21
(47)
(8)
(2)
(21)
11
2
17
3
1
(1)
(8)
(19)
(10)
36
27
21
12
(54)
(33)
(23)
(7)
16
32
18
11
(9)
(33)
(6)
(9)
4
20
(9)
4
19
(10)
4
10
Income from Continuing Operations
22
23
23
24
24
25
21
22
23
24
28
28
29
29
30
30
30
29
28
28
25
18
12
6
(2)
(12)
(23)
(25)
(20)
(7)
6
15
18
22
29
33
33
35
34
35
35
31
25
19
17
120
122
111
147
34
29
120
97
103
110
(16)
25
63
(7)
100
33
16
52
(2)
12
(16)
(5)
18
30
59
73
45
(102)
(82)
(61)
(38)
172
108
77
36
(37)
(90)
(47)
(32)
33
109
21
56
13
(37)
52
(4)
(59)
40
2
(37)
Income to Minority Interest
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
1
(1)
(1)
(1)
(3)
1
(1)
(2)
(2)
(3)
(2)
(2)
(3)
(2)
(2)
(1)
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
(1)
(1)
(1)
(1)
0
0
0
0
0
0
0
0
Equity Earnings Affiliates
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
0
0
0
0
0
0
20
44
(2)
13
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
0
0
0
0
0
0
Net Income (Common)
22
N/A
23
+2%
23
+0%
24
+4%
24
+1%
25
+2%
21
-16%
22
+5%
23
+5%
24
+1%
28
+17%
28
+2%
29
+2%
29
+1%
30
+3%
30
-1%
30
-1%
29
-2%
28
-4%
28
-2%
25
-9%
18
-29%
12
-34%
6
-46%
(2)
N/A
(12)
-413%
(23)
-87%
(25)
-10%
(20)
+20%
(7)
+68%
6
N/A
15
+150%
18
+21%
23
+27%
28
+22%
32
+14%
32
+0%
32
N/A
35
+7%
34
-2%
33
-3%
29
-12%
22
-26%
17
-19%
15
-13%
117
+674%
140
+20%
152
+8%
144
-5%
47
-67%
29
-39%
120
+316%
119
-1%
110
-8%
110
+1%
(16)
N/A
25
N/A
63
+148%
(7)
N/A
100
N/A
33
-67%
16
-50%
52
+220%
50
-3%
64
+28%
36
-45%
47
+31%
19
-58%
31
+60%
61
+95%
74
+23%
45
-39%
(102)
N/A
(82)
+20%
(61)
+26%
(38)
+37%
172
N/A
108
-37%
77
-29%
36
-54%
(37)
N/A
(90)
-145%
(47)
+48%
(32)
+31%
33
N/A
109
+231%
20
-82%
55
+175%
13
-76%
(37)
N/A
52
N/A
(4)
N/A
(59)
-1 481%
40
N/A
2
-95%
(37)
N/A
EPS (Diluted)
13.99
N/A
14.31
+2%
14.37
+0%
14.93
+4%
15.12
+1%
15.49
+2%
13.06
-16%
13.75
+5%
14.5
+5%
14.68
+1%
17.25
+18%
17.56
+2%
17.99
+2%
18.25
+1%
18.87
+3%
18.68
-1%
18.56
-1%
18.25
-2%
17.5
-4%
17.18
-2%
15.62
-9%
11.12
-29%
7.37
-34%
4
-46%
-1.49
N/A
-7.68
-415%
-14.37
-87%
-15.74
-10%
-11.82
+25%
-3.82
+68%
3.52
N/A
8.82
+151%
10.7
+21%
14.43
+35%
17.56
+22%
20.06
+14%
21.46
+7%
20.12
-6%
21.62
+7%
21.18
-2%
20.49
-3%
18.12
-12%
13.5
-25%
10.87
-19%
11.61
+7%
89.92
+675%
100.21
+11%
95.12
-5%
90.12
-5%
29.43
-67%
16.94
-42%
63.1
+272%
62.73
-1%
57.68
-8%
84.92
+47%
-9.87
N/A
21.08
N/A
52.33
+148%
-5.5
N/A
82.91
N/A
27.08
-67%
13.41
-50%
42.91
+220%
41.75
-3%
30.52
-27%
16.9
-45%
22.14
+31%
9.23
-58%
14.76
+60%
28.8
+95%
37.1
+29%
21.61
-42%
-48.71
N/A
-38.95
+20%
-28.9
+26%
-18.09
+37%
90.31
N/A
57.05
-37%
40.31
-29%
18.68
-54%
-20.27
N/A
-49.77
-146%
-26.05
+48%
-17.94
+31%
18.22
N/A
63.82
+250%
34.57
-46%
94.75
+174%
22.85
-76%
-65.84
N/A
92.45
N/A
-6.73
N/A
-112.86
-1 577%
75.46
N/A
4.03
-95%
-71.93
N/A
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