Biglari Holdings Inc. BH Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Restaurant operations by Business | ||||||
| Insurance Segment | $18.94M-0.9% | $19.11M-0.3% | $19.18M+1.9% | $18.82M-2.7% | $19.35M+1.7% | |
| Maxim | $3.26M— | —— | —— | —— | $1.41M+348% | |
| Oil And Gas Segment | $9.14M+68.8% | $5.41M-26.6% | $7.37M-1.7% | $7.5M-24.5% | $9.93M+8.1% | |
| Restaurant Segment | $66.15M-9.1% | $72.77M+1.4% | $71.74M-0.4% | $72.01M+11.9% | $64.35M+2.8% | |
| Earnings (loss) before income taxes by Business | ||||||
| Insurance Segment | $3.24M-21.7% | $4.14M-21.1% | $5.25M+193% | $1.79M+16.7% | $1.54M-17.9% | |
| Maxim | $157K— | —— | —— | —— | -$357K— | |
| Oil And Gas Segment | $1.51M+222% | $467K-30.0% | $667K-40.3% | $1.12M-89.5% | $10.65M+3,186% | |
| Restaurant Segment | $2.88M-50.0% | $5.75M-24.8% | $7.65M+18.8% | $6.44M+94.2% | $3.31M-25.7% | |
| Costs and Expenses by Business | ||||||
| Insurance Segment | $15.7M+4.8% | $14.97M+7.5% | $13.93M-18.2% | $17.03M-4.4% | $17.81M+3.9% | |
| Maxim | $3.1M— | —— | —— | —— | $1.76M— | |
| Oil And Gas Segment | $8.12M+22.9% | $6.61M-2.8% | $6.8M-5.2% | $7.18M-16.6% | $8.61M-3.8% | |
| Restaurant Segment | $63.27M-5.6% | $67.02M+4.6% | $64.1M-2.3% | $65.58M+7.4% | $61.04M+5.0% | |
| G&A by Business | ||||||
| Maxim | $39K— | —— | —— | —— | $43K— | |
| Oil And Gas Segment | $1.33M-7.9% | $1.44M+38.1% | $1.04M-12.0% | $1.18M-9.1% | $1.3M-47.6% | |
| Depreciation, depletion, and amortization by Business | ||||||
| Maxim | $191K— | —— | —— | —— | $70K— | |
| Oil And Gas Segment | $2.87M+2.9% | $2.79M+11.1% | $2.51M-19.2% | $3.11M-4.5% | $3.26M+7.5% | |
| Total revenues by Product | ||||||
| Other | $486K-38.4% | $789K+26.6% | $623K-23.8% | $818K+9.5% | $747K-12.7% | |
| Earnings (loss) before income taxes by Product | ||||||
| Insurance Underwriting | 288,300,000%+215,700,000pp | 72,600,000%-381,100,000pp | 453,700,000%+244,600,000pp | 209,100,000%+87,600,000pp | 121,500,000%+46,000,000pp | |
| Investment Income | 65,100,000%-18,800,000pp | 83,900,000%+1,500,000pp | 82,400,000%-1,500,000pp | 83,900,000%+200,000pp | 83,700,000%-40,500,000pp | |
| Other | -29,300,000%-286,700,000pp | 257,400,000%+268,800,000pp | -11,400,000%+16,600,000pp | -28,000,000%-26,700,000pp | -1,300,000%— | |
| Restaurant operations by Product | ||||||
| Franchise partner fees | $20.54M0.0% | $20.55M+7.2% | $19.17M-4.9% | $20.15M+17.6% | $17.14M-2.4% | |
| Franchise royalties and fees | $3.13M-23.3% | $4.07M+40.6% | $2.9M-7.4% | $3.13M-10.3% | $3.49M+12.6% | |
| Insurance premiums and other | $18.94M-0.9% | $19.11M-0.3% | $19.18M+1.9% | $18.82M-2.7% | $19.35M+1.7% | |
| Licensing and media | $3.26M— | —— | —— | —— | $1.41M— | |
| Oil and gas | $9.14M+68.8% | $5.41M-26.6% | $7.37M-1.7% | $7.5M-24.5% | $9.93M+8.1% | |
| Restaurant operations | $66.15M-9.1% | $72.77M+1.4% | $71.74M-0.4% | $72.01M+11.9% | $64.35M+2.8% | |
| Other segment items by Product | ||||||
| Insurance Underwriting | $0— | $0— | $0— | $0— | $0— | |
| Investment Income | $0— | $0— | $0— | $0— | $0— | |
| Other | $875K— | —— | $737K-32.9% | $1.1M+44.5% | $760K-22.6% | |
| Costs and Expenses by Product | ||||||
| Insurance Underwriting | $14.92M-11.0% | $16.76M+27.0% | $13.2M-17.2% | $15.93M-6.6% | $17.05M+5.5% | |
| Investment Income | $0— | $0— | $0— | $0— | $0— | |
| Other | $779K— | —— | $737K-32.9% | $1.1M+44.5% | $760K-22.6% | |
| Insurance losses and underwriting expenses by Product | ||||||
| Insurance Underwriting | $4.96M-32.4% | $7.34M+133% | $3.15M-26.1% | $4.26M-15.6% | $5.05M+31.0% | |
| Investment Income | $0— | $0— | $0— | $0— | $0— | |
| Other | -$96K— | $0— | $0— | $0— | $0— | |
| Insurance losses by Product | ||||||
| Insurance Underwriting | $9.96M+5.7% | $9.42M-6.3% | $10.05M-13.9% | $11.67M-2.8% | $12.01M-2.5% | |
| Investment Income | $0— | $0— | $0— | $0— | $0— | |
| Other | $0— | $0— | $0— | $0— | $0— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Biglari Holdings Inc. break its business down?
- Biglari Holdings Inc. (BH) reports restaurant operations by business across 4 parts — Insurance Segment, Maxim, Oil And Gas Segment and Restaurant Segment. Each is extracted from the segment footnotes and tracked over time.
- Where does Biglari Holdings Inc.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Biglari Holdings Inc.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
