Biglari Holdings Inc. Liquidation Value
BH-A
Other
Cash & Equivalents
$268.78M
As of 2025-12-31
Current Price: N/A
Key Metrics
Cash Liquidation Value
Cash minus Total Obligations
Cash: $268.78M
Total Obligations: -$419.19M
$-150.41M
Per share: $-72.71
Period: 2025-12-31
Liquid Liquidation Value
Cash + AR minus Total Obligations
Cash: $268.78M
AR: $23.28M
Total Obligations: -$419.19M
$-127.13M
Per share: $-61.46
Period: 2025-12-31
Operating Liquidation Value
Cash + AR + Inventory minus Total Obligations
Cash: $268.78M
AR: $23.28M
Inventory: $3.77M
Total Obligations: -$419.19M
$-123.36M
Per share: $-59.64
Period: 2025-12-31
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Liquidation Ladder
| Metric | Total | Per Share |
|---|---|---|
| Cash Liquidation Value | $-150.41M | $-72.71 |
| Liquid Liquidation Value | $-127.13M | $-61.46 |
| Operating Liquidation Value | $-123.36M | $-59.64 |
Key Components (as of 2025-12-31)
| Cash & Equivalents | $268.78M |
| Accounts Receivable | $23.28M |
| Inventory | $3.77M |
| Current Liabilities | $156.00M |
| Long-term Debt | $213.92M |
| Op. Lease Liability | $41.89M |
| Finance Lease | $7.39M |
| Shares Outstanding | N/A |
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Historical
| Period | Cash | AR | Inventory | AP | Curr Liab | LT Debt | Op Lease | Fin Lease |
|---|---|---|---|---|---|---|---|---|
| 2025-12-31 | $268.78M | $23.28M | $3.77M | $34.17M | $156.00M | $213.92M | $41.89M | $7.39M |
| 2025-09-30 | $272.49M | $21.24M | $3.93M | $27.81M | $142.96M | $214.91M | $41.61M | $7.63M |
| 2025-06-30 | $32.77M | $21.08M | $4.37M | $25.54M | $126.09M | N/A | $37.53M | $5.21M |
| 2025-03-31 | $28.66M | $22.51M | $4.23M | $27.85M | $150.31M | N/A | $35.68M | $4.26M |
| 2024-12-31 | $30.71M | $25.18M | $4.03M | $28.54M | $147.32M | $10.00M | $36.14M | $4.00M |
| 2024-09-30 | $29.89M | $21.38M | $3.86M | $26.31M | $112.05M | N/A | $36.03M | $4.30M |
| 2024-06-30 | $26.90M | $19.17M | $3.59M | $25.81M | $105.77M | N/A | $37.13M | $4.60M |
| 2024-03-31 | $34.54M | $24.20M | $3.56M | $21.83M | $118.28M | N/A | $36.84M | $4.90M |
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