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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Biglari Holdings (BH-A) Net Margin (2017 - 2025)

Biglari Holdings has reported Net Margin over the past 9 years, most recently at 49.92% for Q4 2025.

  • Quarterly results put Net Margin at 49.92% for Q4 2025, down 3864.0% from a year ago — trailing twelve months through Dec 2025 was 9.48% (down 845.0% YoY), and the annual figure for FY2025 was 9.48%, down 845.0%.
  • Net Margin for Q4 2025 was 49.92% at Biglari Holdings, down from 5.3% in the prior quarter.
  • Over the last five years, Net Margin for BH-A hit a ceiling of 76.05% in Q1 2021 and a floor of 79.88% in Q2 2022.
  • Median Net Margin over the past 5 years was 2.61% (2022), compared with a mean of 0.93%.
  • Biggest five-year swings in Net Margin: skyrocketed 17766bps in 2021 and later crashed -9696bps in 2023.
  • Biglari Holdings' Net Margin stood at 4.87% in 2021, then skyrocketed by 303bps to 9.89% in 2022, then skyrocketed by 398bps to 49.24% in 2023, then tumbled by -123bps to 11.27% in 2024, then plummeted by -343bps to 49.92% in 2025.
  • The last three reported values for Net Margin were 49.92% (Q4 2025), 5.3% (Q3 2025), and 50.62% (Q2 2025) per Business Quant data.