Is it safe?
Can BH-A take a bad year?
Biglari Holdings Inc. carries $170M of net debt at 25.7× EBITDA: a heavy load to carry through a bad year.
$170M
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 25.7×
Net debt / EBITDA
- Interest cover
- none
Interest cover · no operating profit to pay the interest bill from
- Annualised volatility
- 44%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ2 2026
- $239M
- Cash and short-term investments
- $68M
- Net debt
- $170M
- EBITDA, trailing twelve months
- $6.6M
- Operating profit, trailing twelve months
- −$34M
- Debt / equity
- 0.44×
- Total debt / EBITDA
- 36.0×
- Annualised volatilitytwo years of daily moves
- 44%
- Worst drawdown on file
- −76%
- Below its 52-week high
- −20%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.