Biglari Holdings Inc. (BH.A) vs Cannae Holdings, Inc. (CNNE)

Biglari Holdings Inc. and Cannae Holdings, Inc. are both Restaurants companies. Cannae Holdings, Inc. is the larger, with a market value of $673.6M against $491.2M — 1.4× the size. Biglari Holdings Inc. grew revenue faster over the last twelve months: 1.19% against −6.54%. Biglari Holdings Inc. has the higher net margin (5.46% vs −38.2%) and the higher return on invested capital (0.00% vs −8.02%). Across the 18 metrics below, Biglari Holdings Inc. leads on 11 and Cannae Holdings, Inc. on 7.

Valuation

Metric BH.A CNNE Restaurants median
P/E n/m n/m 22.14
P/S 14.34 1.68 0.91
P/B 9.60 0.75 2.01
Price to free cash flow 69.71 n/m 19.41
EV/EBITDA 63.09 n/m 11.48
EV/Sales 14.35 1.66 1.20
Earnings yield (6.33%) (19.15%) 2.30%
Free cash flow yield 1.43% (16.08%) 3.92%

Profitability

Metric BH.A CNNE Restaurants median
Gross margin 32.12% 15.47% 38.77%
Operating margin 0.00% (28.44%) 4.30%
Net margin 5.46% (38.18%) 1.85%
Free cash flow margin 20.57% (10.62%) 3.12%
Return on equity 3.72% (13.75%) 3.07%
Return on assets 0.00% (10.25%) 1.50%
Return on invested capital 0.00% (8.02%) 3.14%

Growth

Metric BH.A CNNE Restaurants median
Revenue growth (TTM) 1.19% (6.54%) 5.16%
EPS growth (last fiscal year) (969.59%) (91.97%) —
Revenue growth, 5-year CAGR (15.20%) (6.27%) 10.57%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BH.A CNNE Restaurants median
Debt to equity 0.22 0.07 0.10
Current ratio 1.10 1.24 0.81
Net debt to EBITDA 0.15 1.27 0.43

Dividend

Metric BH.A CNNE Restaurants median
Dividend yield — — 2.32%
Payout ratio 0.00 0.00 0.00

Size

Metric BH.A CNNE Restaurants median
Market cap 491.16m 673.60m 482.66m

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