BH tangible book value per share history

Annual fiscal periods. Dates are reporting period ends; fiscal years can differ from calendar years.

Biglari Holdings Incinary Class B Tangible Book Value Per Share — Annual fiscal periods
Period ending	Tangible Book Value Per Share
Dec 31, 2025	144.1163
Dec 31, 2024	355.5763
Dec 31, 2023	366.5964
Dec 31, 2022	321.4552
Dec 31, 2021	321.9445
Dec 31, 2020	282.2586
Dec 31, 2019	318.4518
Dec 31, 2018	288.5823
Dec 31, 2017	274.1725
Dec 31, 2016	254.1118
Dec 31, 2015	166.9526
Sep 30, 2014	327.6675
Sep 30, 2013	228.3389
Sep 30, 2012	157.8727
Sep 30, 2011	135.1506
Sep 30, 2010	121.5974
Sep 30, 2009	119.8999
Sep 30, 2008	113.7138
Sep 30, 2007	126.6087
Sep 30, 2006	120.6977
Sep 30, 2005	111.8989
Sep 30, 2004	101.8951
Sep 30, 2003	88.2444
Sep 30, 2002	74.325
Sep 30, 2001	71.4704
Sep 30, 2000	64.3241
Sep 30, 1999	57.5247
Sep 30, 1998	47.1774
Sep 30, 1997	34.2679
Sep 30, 1996	27.5103
Sep 30, 1995	23.9331
Sep 30, 1994	15.2365
Sep 30, 1993	8.7171
Sep 30, 1992	1.538
Sep 30, 1991	-3.96
Sep 30, 1990	21.161
Sep 30, 1989	19.6847
Sep 30, 1988	17.0773
Sep 30, 1987	17.5599
Sep 30, 1986	10.6919