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Biglari Holdings Inc.

BH and BH.A

Biglari Holdings Inc. is a diversified holding company that manages a portfolio of subsidiaries across the restaurant, insurance, media, and energy sectors.

Market cap
$1.17B+21.6%
Revenue$397.7M+8.2%
Net income-$18.7M+68.6%
Free cash flow$81.5M+117%
EPS (diluted)-$129.65-137%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 7, 2026 (In 1 week)

Financials

Q1 2026

Income statement

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Revenue$97.5M+2.6%
Gross profit$60.0M+4.8%
Net income-$14.5M+56.3%
EPS (diluted)-$11.16+55.9%

Balance sheet

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Cash & equivalents$200.1M+598%
Total debt$290.3M+627%
Total equity$519.2M-3.8%
Total assets$1.0B+22.8%

Cash flow

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Operating cash flow$20.3M+28.7%
CapEx$7.0M-4.6%
Free cash flow$13.4M+57.3%

Valuation & ratios

Valuation

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Market cap$1.17B+21.6%
Enterprise value$1.26B+28.3%
P/S+0.4×

Profitability

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Gross margin59.5%-0.6pp
Net margin-4.7%-2.0pp
FCF margin20.5%

Returns & leverage

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Return on equity-3.5%-1.4pp
Debt / equity0.6×+0.5×
Current ratio2.5×+1.3×

Segments

By product

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Restaurant operations$66.1M+2.8%
Insurance premiums and other$18.9M-2.1%
Oil and gas$9.1M-8.0%
Licensing and media$3.3M+132%

By segment

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Insurance Segment$18.9M-2.1%

Competitors

Profile

Biglari Holdings Inc. is a diversified holding company that manages a portfolio of subsidiaries across the restaurant, insurance, media, and energy sectors. The company employs a decentralized operating model where individual business units manage daily operations while capital allocation and investment decisions are centralized. Its primary business value is derived from its iconic American restaurant brands and a unique franchise partner model.

Competitive position

A diversified conglomerate with a strong footprint in the American quick-service and casual dining markets through heritage brands.

GeographiesUnited States, Monaco, International
Customer segmentsRetail consumers, Small business owners, Enterprise insurance clients
Business modelFranchising, Holding Company, Direct-to-Consumer, B2B Licensing
SuppliersIndependent food distributors, Beef and dairy suppliers, Energy equipment providers, Real estate owners
CustomersDine-in and take-out restaurant patrons, Franchise owner-operators, Insurance policyholders
Listed1984
Employees2.5K
CEOSardar Biglari
IndustryRestaurants
FilingsSEC EDGAR

Questions, answered.

What is Biglari Holdings Inc.'s market cap?
Biglari Holdings Inc. (BH) has a market capitalization of $1.2B and trades on NYSE.
What is Biglari Holdings Inc.'s revenue and profitability?
Biglari Holdings Inc. generated $397.7M in trailing twelve-month revenue with a net loss of $18.7M, representing a net margin of -4.7%. Gross margin stands at 59.5%, with free cash flow of $81.5M. These figures are based on the Q1 2026 filing.
Who are Biglari Holdings Inc.'s competitors?
Biglari Holdings Inc.'s key competitors include McDonald's Corporation, Darden Restaurants, Inc., The Wendy's Company, and others. These companies compete in similar markets and product categories.
What subsidiaries does Biglari Holdings Inc. have?
Biglari Holdings Inc.'s subsidiaries include Steak n Shake Inc., Western Sizzlin Corporation.
Where is Biglari Holdings Inc. headquartered?
Biglari Holdings Inc. is headquartered in United States of America and employs approximately 2,466 people. It has been publicly traded since 1984.