Biglari Holdings Inc. (BH) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 356.21M | 374.65M | 404.14M | 174.28M | 171.53M | 170.62M | 165.22M | 151.15M | 168.43M | 152.55M | 155.32M | 153.08M | 163.36M | 150.65M | 177.55M | 150.43M | 167.8M | 164.81M | 160.55M | 152.28M |
| Cash & Short-Term Investments | 314.26M | 337.83M | 369.17M | 137.31M | 135.33M | 133.68M | 132.79M | 120.52M | 132.26M | 119.94M | 118.36M | 119.14M | 119.02M | 106.93M | 134.87M | 112.28M | 132.93M | 125.41M | 126.8M | 124.31M |
| Cash Only | 200.07M | 268.78M | 272.49M | 32.77M | 28.66M | 30.71M | 29.89M | 26.9M | 34.54M | 28.07M | 33.99M | 30.88M | 39.36M | 37.47M | 64.84M | 40.51M | 45.78M | 42.35M | 27.8M | 28.21M |
| Short-Term Investments | 114.19M | 69.05M | 96.68M | 104.54M | 106.67M | 102.97M | 102.9M | 93.62M | 97.72M | 91.88M | 84.36M | 88.26M | 79.65M | 69.47M | 70.03M | 71.77M | 87.15M | 83.06M | 99.01M | 96.09M |
| Accounts Receivable | 24.94M | 23.28M | 21.24M | 21.08M | 22.51M | 25.18M | 21.38M | 19.17M | 24.2M | 22.24M | 25.78M | 22.58M | 27.04M | 29.38M | 25.83M | 26.94M | 22.43M | 28.51M | 23.89M | 17.71M |
| Days Sales Outstanding | 22.26 | 20.51 | 19.52 | 19.71 | 22.58 | 23.51 | 20.63 | 21.65 | 23.62 | 24.37 | 24.47 | 24.14 | 28.15 | 25.79 | 26.37 | 24.32 | 26.85 | 24.36 | 23.31 | 17.11 |
| Inventory | 3.52M | 3.77M | 3.93M | 4.37M | 4.23M | 4.03M | 3.86M | 3.59M | 3.56M | 2.98M | 3.46M | 3.6M | 3.75M | 3.85M | 3.7M | 3.46M | 4.38M | 3.8M | 3.1M | 3.52M |
| Days Inventory Outstanding | 4.7 | 4.78 | 6.3 | 5.47 | 6.15 | 6.47 | 6.18 | 4.89 | 4.61 | 4.82 | 6.01 | 6.41 | 6.62 | 6.5 | 6.12 | 6.57 | 6.83 | 5.93 | 5.51 | 5.08 |
| Other Current Assets | 13.49M | 9.77M | 9.8M | 11.52M | 9.46M | 2.22M | 7.18M | 7.88M | 8.41M | 1.79M | 7.72M | 7.76M | 13.54M | 6.15M | 13.15M | 7.74M | 8.07M | 3.22M | 6.76M | 6.74M |
| Total Non-Current Assets | 662.09M | 674.48M | 675.35M | 689.3M | 657.53M | 695.52M | 699.9M | 657.9M | 716.88M | 696.87M | 671.85M | 736.92M | 743.86M | 677.82M | 684.59M | 622.92M | 718.06M | 730M | 758.82M | 781.62M |
| Property, Plant & Equipment | 410.24M | 406.66M | 407.73M | 400.77M | 404.15M | 410.17M | 414.26M | 415.68M | 411.44M | 412.71M | 417.31M | 422.45M | 426.44M | 435.46M | 453.04M | 384.31M | 388.15M | 391.89M | 397.42M | 381.01M |
| Fixed Asset Turnover | 0.24x | 0.25x | 0.25x | 0.25x | 0.23x | 0.22x | 0.22x | 0.22x | 0.22x | 0.22x | 0.22x | 0.22x | 0.21x | 0.22x | 0.22x | 0.24x | 0.22x | 0.25x | 0.21x | 0.25x |
| Goodwill | 52.55M | 52.57M | 52.57M | 52.57M | 52.52M | 52.5M | 52.54M | 52.51M | 53.52M | 53.53M | 53.51M | 53.52M | 53.52M | 53.51M | 53.46M | 53.5M | 53.53M | 53.55M | 53.56M | 53.58M |
| Intangible Assets | 23.52M | 23.67M | 23.67M | 23.68M | 23.09M | 22.82M | 23.31M | 23.03M | 23.12M | 23.23M | 22.94M | 23.13M | 23.15M | 23.04M | 22.47M | 22.88M | 23.32M | 23.46M | 23.62M | 23.8M |
| Long-Term Investments | 166.2M | 154.99M | 179.16M | 203.6M | 169.13M | 201.73M | 201.59M | 160.11M | 220.76M | 199.1M | 169.42M | 228.74M | 230.84M | 155.79M | 144.86M | 151.75M | 242.37M | 250.4M | 273.09M | 311.88M |
| Other Non-Current Assets | 9.57M | 36.59M | 12.22M | 8.68M | 8.63M | 8.31M | 8.2M | 6.57M | 8.05M | 8.3M | 8.68M | 9.07M | 9.91M | 10.01M | 10.76M | 10.48M | 10.69M | 10.7M | 11.13M | 11.35M |
| Total Assets | 1.02B | 1.05B | 1.08B | 863.58M | 829.06M | 866.13M | 865.12M | 809.05M | 885.32M | 849.42M | 827.17M | 890M | 907.22M | 828.47M | 862.14M | 773.35M | 885.85M | 894.81M | 919.37M | 933.89M |
| Asset Turnover | 0.09x | 0.09x | 0.10x | 0.12x | 0.11x | 0.11x | 0.11x | 0.11x | 0.10x | 0.11x | 0.11x | 0.10x | 0.10x | 0.12x | 0.11x | 0.11x | 0.10x | 0.11x | 0.09x | 0.10x |
| Asset Growth % | 22.83% | 21.13% | 24.78% | 6.74% | -6.35% | 1.97% | 4.59% | -9.09% | -2.41% | 2.53% | -4.06% | 15.08% | 2.41% | -7.41% | -6.22% | -17.19% | -7.71% | -12.1% | -6.53% | -5.55% |
| Total Current Liabilities | 144.32M | 156M | 142.96M | 126.09M | 150.31M | 147.32M | 112.05M | 105.77M | 118.28M | 111.1M | 141.6M | 121.45M | 130.81M | 134.9M | 145.7M | 138.28M | 143.14M | 143.64M | 142.83M | 141.93M |
| Accounts Payable | 33.52M | 35.43M | 27.81M | 27.58M | 27.85M | 28.54M | 26.31M | 25.81M | 21.83M | 22.45M | 22.24M | 26.1M | 30.93M | 28.43M | 34.29M | 29.4M | 34.95M | 36.68M | 42.31M | 40.66M |
| Days Payables Outstanding | 44.48 | 39.26 | 41.99 | 35.25 | 41.94 | 44.98 | 43.23 | 32.57 | 31.22 | 33.47 | 41.18 | 49.71 | 51.7 | 53.99 | 54.41 | 53.95 | 59.8 | 67.8 | 69.02 | 59.81 |
| Short-Term Debt | 40.87M | 47.02M | 20.92M | 19M | 35M | 35M | 0 | 50K | 0 | 0 | 19M | 3.6M | 6.5M | 10M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 5.89M | 0 | 0 | 0 | 26.5M | 27.61M | 25.81M | 26.97M | 27.88M | 26.74M | 26.02M | 27.93M | 29.92M | 28.97M | 33.31M | 35.81M | 37.62M | 37.59M | 40.02M | 41.32M |
| Other Current Liabilities | 53.74M | 63.47M | 63.45M | 60.26M | 24.7M | 16.53M | 22.83M | 15.44M | 30.03M | 27.99M | 14.09M | 14.68M | 15.51M | 21.2M | 14.61M | 14.71M | 14.44M | 13.1M | 13.4M | 13.67M |
| Current Ratio | 2.47x | 2.40x | 2.83x | 1.38x | 1.14x | 1.16x | 1.47x | 1.43x | 1.42x | 1.37x | 1.10x | 1.26x | 1.25x | 1.12x | 1.22x | 1.09x | 1.17x | 1.15x | 1.12x | 1.07x |
| Quick Ratio | 2.44x | 2.38x | 2.80x | 1.35x | 1.11x | 1.13x | 1.44x | 1.40x | 1.39x | 1.35x | 1.07x | 1.23x | 1.22x | 1.09x | 1.19x | 1.06x | 1.14x | 1.12x | 1.10x | 1.05x |
| Cash Conversion Cycle | -17.52 | -13.97 | -16.18 | -10.07 | -13.21 | -15 | -16.42 | -6.03 | -2.98 | -4.28 | -10.71 | -19.16 | -16.92 | -21.69 | -21.92 | -23.06 | -26.13 | -37.51 | -40.2 | -37.62 |
| Total Non-Current Liabilities | 354.82M | 369.71M | 356.26M | 148.21M | 138.91M | 145.86M | 151.31M | 134.1M | 148.46M | 138.99M | 128.16M | 152.2M | 155.21M | 138.01M | 171.03M | 129.33M | 155.42M | 163.47M | 177.97M | 178.48M |
| Long-Term Debt | 211.68M | 213.92M | 214.91M | 0 | 13.4M | 10M | 9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 105.17M | 97.7M | 97.01M | 91.38M | 89.36M | 90.74M | 91.99M | 92.91M | 91.91M | 86.39M | 88.45M | 89.6M | 90.14M | 91.84M | 95.98M | 99.39M | 101.16M | 104.48M | 107.95M | 105.61M |
| Deferred Tax Liabilities | 21.51M | 41.78M | 0 | 40.77M | 20.28M | 29.39M | 35.19M | 26.25M | 41.8M | 37.94M | 25.4M | 48.2M | 49.81M | 31.34M | 28.52M | 17.77M | 41.76M | 46.53M | 57.91M | 60.91M |
| Other Non-Current Liabilities | 16.47M | 16.31M | 44.34M | 16.05M | 15.87M | 15.72M | 15.13M | 14.94M | 14.75M | 14.66M | 14.31M | 14.4M | 15.26M | 14.82M | 16.54M | 12.17M | 12.5M | 12.46M | 12.11M | 11.96M |
| Total Liabilities | 499.14M | 525.71M | 499.22M | 274.29M | 289.22M | 293.17M | 263.35M | 239.87M | 266.75M | 250.09M | 269.77M | 273.64M | 286.02M | 272.91M | 316.74M | 267.62M | 298.56M | 307.11M | 320.81M | 320.4M |
| Total Debt | 357.71M | 358.64M | 347.17M | 125.44M | 152.83M | 150.19M | 115.35M | 107.36M | 106.43M | 101.24M | 122.65M | 108.67M | 112.74M | 118.83M | 143.07M | 116.41M | 118.21M | 121.38M | 125.18M | 122.38M |
| Net Debt | 157.64M | 89.86M | 74.68M | 92.67M | 124.17M | 119.48M | 85.46M | 80.47M | 71.89M | 73.18M | 88.66M | 77.79M | 73.38M | 81.36M | 78.23M | 75.9M | 72.44M | 79.03M | 97.38M | 94.17M |
| Debt / Equity | 0.69x | 0.69x | 0.60x | 0.21x | 0.28x | 0.26x | 0.19x | 0.19x | 0.17x | 0.17x | 0.22x | 0.18x | 0.18x | 0.21x | 0.26x | 0.23x | 0.20x | 0.21x | 0.21x | 0.20x |
| Debt / EBITDA | 26.03x | 24.87x | 12.32x | 7.86x | 11.61x | 9.52x | 4.43x | 7.13x | 6.38x | 6.26x | 4.34x | 3.35x | 3.62x | 3.40x | 4.59x | 3.97x | 5.11x | 4.34x | 7.12x | 4.90x |
| Net Debt / EBITDA | 11.47x | 6.23x | 2.65x | 5.81x | 9.43x | 7.57x | 3.28x | 5.35x | 4.31x | 4.53x | 3.14x | 2.40x | 2.35x | 2.32x | 2.51x | 2.59x | 3.13x | 2.82x | 5.54x | 3.77x |
| Interest Coverage | 0.44x | 9.02x | -1.01x | 32.12x | -17.44x | -8.98x | 2.98x | -44.23x | 23.37x | 35.82x | 5.91x | 9.12x | 7.67x | 6.26x | 9.91x | 9.90x | 5.23x | 8.71x | 1.52x | 6.64x |
| Total Equity | 519.16M | 523.43M | 580.28M | 589.29M | 539.84M | 572.96M | 601.76M | 569.18M | 618.57M | 599.33M | 557.4M | 616.35M | 621.2M | 555.57M | 545.41M | 505.74M | 587.3M | 587.7M | 598.57M | 613.49M |
| Equity Growth % | -3.83% | -8.64% | -3.57% | 3.53% | -12.73% | -4.4% | 7.96% | -7.65% | -0.42% | 7.88% | 2.2% | 21.87% | 5.77% | -5.47% | -8.88% | -17.56% | -8.11% | 4.05% | 11.21% | 17.4% |
| Book Value per Share | 165.39 | 168.69 | 187.01 | 189.91 | 237.24 | 409.39 | 429.97 | 406.03 | 435.94 | 418.53 | 385.74 | 422.60 | 425.61 | 375.82 | 371.94 | 335.02 | 385.65 | 381.78 | 378.56 | 378.92 |
| Total Shareholders' Equity | 519.16M | 523.43M | 580.28M | 589.29M | 539.84M | 572.96M | 601.76M | 569.18M | 618.57M | 599.33M | 557.4M | 616.35M | 611.95M | 546.97M | 536.49M | 505.74M | 587.3M | 587.7M | 598.57M | 613.49M |
| Common Stock | 1.15M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M | 1.14M |
| Retained Earnings | 575.68M | 590.21M | 640.06M | 645.36M | 594.42M | 627.7M | 637.97M | 605.85M | 654.04M | 631.46M | 586.82M | 643.33M | 641.4M | 576.51M | 566.46M | 534.45M | 608.23M | 608.53M | 613.35M | 624.02M |
| Treasury Stock | -456.6M | -452.16M | -445.14M | -441.41M | -438.92M | -438.6M | -420.76M | -420.73M | -419.65M | -416.34M | -413.08M | -410.93M | -409.92M | -409.68M | -409.12M | -408.48M | -401.72M | -401.85M | -395.8M | -391.59M |
| Accumulated OCI | -1.57M | -1.35M | -1.37M | -1.39M | -2.4M | -2.87M | -2.18M | -2.67M | -2.55M | -2.52M | -3.07M | -2.78M | -2.46M | -2.79M | -3.78M | -3.16M | -2.14M | -1.91M | -1.91M | -1.86M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.25M | 8.6M | 8.92M | 0 | 0 | 0 | 0 | 0 |