Biglari Holdings (BH-A) Gross Margin (2017 - 2026)

Biglari Holdings' Gross Margin history runs 10 years deep, the most recent figure standing at 61.57% for Q1 2026.

• In Q1 2026, Gross Margin rose 130.0% year-over-year to 61.57%; the TTM figure through Mar 2026 stood at 88.44% (up 2836.0% YoY), while the FY2025 annual figure was 96.83%, up 3644.0% from the prior year.
• Gross Margin was 61.57% for Q1 2026 at Biglari Holdings, down from 97.62% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 191.03% in Q4 2022 to a low of 59.53% in Q2 2024.
• Historically, Gross Margin has averaged 83.08% across 5 years, with a median of 63.7% in 2023.
• The sharpest annual moves came in 2022 and 2023: Gross Margin surged 25327 bps in 2022, then sank 9612 bps in 2023.
• A 5-year view of Gross Margin shows it stood at 191.03% in 2022, then slumped by 50 bps to 94.91% in 2023, then plunged by 36 bps to 60.57% in 2024, then jumped by 61 bps to 97.62% in 2025, then sank by 37 bps to 61.57% in 2026.
• The last three Gross Margin figures came in at 61.57% (Q1 2026), 97.62% (Q4 2025), and 96.75% (Q3 2025), per Business Quant data.