Biglari Holdings Inc (BH) — Tangible Net Worth Ratio
Biglari Holdings Inc (BH) has a Tangible Net Worth Ratio of 95.5% as of March 2026. This metric is calculated by deducting intangible assets ($23.52 Million) from net assets ($519.16 Million) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See working capital position of Biglari Holdings Inc to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Biglari Holdings Inc Tangible Net Worth Ratio (1986–2025)
This chart shows how Biglari Holdings Inc's Tangible Net Worth Ratio has changed across 39 annual periods from 1986 to 2025. As of March 2026, the ratio stands at 95.5%, reflecting net assets of $519.16 Million with intangible assets of $23.52 Million USD. See Biglari Holdings Inc liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Biglari Holdings Inc (1986–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Biglari Holdings Inc from 1986 to 2025, covering 39 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see BH stock market capitalisation.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 95.5% | $523.43 Million | $23.67 Million | $1.05 Billion | ▼ -0.5 pp |
| 2024 | 96.0% | $572.96 Million | $22.82 Million | $866.13 Million | ▼ -0.1 pp |
| 2023 | 96.1% | $599.33 Million | $23.23 Million | $849.42 Million | ▲ +0.3 pp |
| 2022 | 95.9% | $555.57 Million | $23.04 Million | $828.47 Million | ▼ -0.2 pp |
| 2021 | 96.0% | $587.70 Million | $23.46 Million | $894.81 Million | ▲ +0.3 pp |
| 2020 | 95.7% | $564.83 Million | $24.07 Million | $1.02 Billion | ▲ +0.2 pp |
| 2019 | 95.6% | $616.30 Million | $27.35 Million | $1.14 Billion | ▲ +0.5 pp |
| 2018 | 95.1% | $570.46 Million | $28.11 Million | $1.03 Billion | ▼ -0.3 pp |
| 2017 | 95.4% | $571.33 Million | $26.56 Million | $1.06 Billion | ▲ +0.2 pp |
| 2016 | 95.1% | $531.94 Million | $26.05 Million | $1.10 Billion | ▼ -0.1 pp |
| 2015 | 95.2% | $451.37 Million | $21.67 Million | $1.00 Billion | ▼ -1.2 pp |
| 2014 | 96.4% | $638.72 Million | $22.91 Million | $1.17 Billion | ▼ -2.2 pp |
| 2013 | 98.6% | $564.59 Million | $7.72 Million | $988.54 Million | ▲ +0.2 pp |
| 2012 | 98.4% | $401.21 Million | $6.25 Million | $773.79 Million | ▲ +0.6 pp |
| 2011 | 97.9% | $324.93 Million | $6.95 Million | $672.86 Million | ▲ +0.4 pp |
| 2010 | 97.4% | $311.24 Million | $7.96 Million | $563.84 Million | ▼ -2.0 pp |
| 2009 | 99.5% | $292.05 Million | $1.57 Million | $514.50 Million | ▲ +2.8 pp |
| 2008 | 96.7% | $283.58 Million | $9.45 Million | $520.14 Million | ▼ -2.7 pp |
| 2007 | 99.4% | $303.07 Million | $1.91 Million | $562.76 Million | ▲ +0.1 pp |
| 2006 | 99.3% | $287.04 Million | $2.15 Million | $542.52 Million | ▲ +3.1 pp |
| 2005 | 96.2% | $258.51 Million | $9.84 Million | $491.34 Million | ▼ -3.3 pp |
| 2004 | 99.5% | $225.49 Million | $1.20 Million | $445.12 Million | ▲ +0.1 pp |
| 2003 | 99.3% | $193.89 Million | $1.29 Million | $415.66 Million | ▲ +0.2 pp |
| 2002 | 99.1% | $167.05 Million | $1.43 Million | $395.89 Million | ▼ -0.9 pp |
| 2001 | 100.0% | $165.80 Million | $0.00 | $245.07 Million | ▲ +0.0 pp |
| 2000 | 100.0% | $152.11 Million | $0.00 | $240.77 Million | ▲ +0.0 pp |
| 1999 | 100.0% | $135.50 Million | $0.00 | $210.50 Million | ▲ +0.0 pp |
| 1998 | 100.0% | $120.40 Million | $0.00 | $191.90 Million | ▲ +0.0 pp |
| 1997 | 100.0% | $93.00 Million | $0.00 | $167.30 Million | ▲ +0.0 pp |
| 1996 | 100.0% | $57.80 Million | $0.00 | $131.40 Million | ▲ +0.0 pp |
| 1995 | 100.0% | $42.60 Million | $0.00 | $99.80 Million | ▲ +0.0 pp |
| 1994 | 100.0% | $19.70 Million | $0.00 | $80.30 Million | ▲ +0.0 pp |
| 1993 | 100.0% | $11.10 Million | $0.00 | $70.60 Million | ▲ +0.0 pp |
| 1992 | 100.0% | $1.80 Million | $0.00 | $67.10 Million | ▲ +0.0 pp |
| 1990 | 100.0% | $22.50 Million | $0.00 | $55.80 Million | ▲ +0.0 pp |
| 1989 | 100.0% | $18.00 Million | $0.00 | $50.00 Million | ▲ +0.0 pp |
| 1988 | 100.0% | $13.80 Million | $0.00 | $46.80 Million | ▲ +0.0 pp |
| 1987 | 100.0% | $12.90 Million | $0.00 | $49.30 Million | ▲ +0.0 pp |
| 1986 | 100.0% | $10.80 Million | $0.00 | $47.90 Million | — |