Biglari Holdings Inc. (BH.A) vs Portillo's Inc. (PTLO)

Biglari Holdings Inc. and Portillo's Inc. are both Restaurants companies. Biglari Holdings Inc. and Portillo's Inc. are of similar size ($533.1M and $491.2M). Biglari Holdings Inc. has negative trailing earnings, so its P/E is not meaningful; Portillo's Inc. trades at 29.9×. Portillo's Inc. grew revenue faster over the last twelve months: 4.17% against 1.19%. Biglari Holdings Inc. has the higher net margin (5.46% vs 2.25%) and the lower return on invested capital (0.00% vs 3.44%). Across the 20 metrics below, Biglari Holdings Inc. leads on 10 and Portillo's Inc. on 10.

Valuation

Metric BH.A PTLO Restaurants median
P/E n/m 29.91 26.18
P/S 1.24 0.66 1.11
P/B 0.83 0.96 2.06
Price to free cash flow 6.05 39.73 17.92
EV/EBITDA 5.52 9.76 12.81
EV/Sales 1.26 0.94 1.29
Earnings yield (6.80%) 3.34% 2.23%
Free cash flow yield 16.53% 2.52% 3.23%

Profitability

Metric BH.A PTLO Restaurants median
Gross margin 32.12% 65.34% 38.86%
Operating margin 0.00% 5.30% 4.59%
Net margin 5.46% 2.25% 1.83%
Free cash flow margin 20.57% 1.65% 2.47%
Return on equity 3.72% 3.41% 3.72%
Return on assets 0.00% 1.07% 1.10%
Return on invested capital 0.00% 3.44% 3.01%

Growth

Metric BH.A PTLO Restaurants median
Revenue growth (TTM) 1.19% 4.17% 5.52%
EPS growth (last fiscal year) (969.59%) (41.30%) (5.05%)
Revenue growth, 5-year CAGR (15.20%) 9.96% 10.57%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BH.A PTLO Restaurants median
Debt to equity 0.22 0.46 0.22
Current ratio 1.10 0.27 0.78
Net debt to EBITDA 0.15 3.05 0.43

Dividend

Metric BH.A PTLO Restaurants median
Dividend yield — — 1.79%
Payout ratio — — 0.45

Size

Metric BH.A PTLO Restaurants median
Market cap 491.16m 533.12m 612.23m

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