StockData

Biglari Holdings Inc. (BH) stock analysis

BHNYSERetail-Eating PlacesFiscal year ends December 31Also trades as BH.A
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026Score 4/30
$393.70+3.38 (+0.87%)

Close on Oct 30, 2026Market cap –P/E –Yield –

StockData Score

Prices as of Oct 30, 2026How the score works

Value0Growth1Performance0Health3Dividend0

Weak4 of 30 checks passed

Biglari passes 4 of the 30 checks behind our score; 18 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
1/6
Past performance
0/6
Financial health
3/6
Dividend
0/6

What stands out

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 35.3% of total debt.

  • Growing faster than the industry

    Revenue grew 7.5% over the last twelve months; the Eating and Drinking Places median is 6.0%.

  • Debt falling against equity

    Debt to equity fell from 46.7% five years ago to 43.9%.

  • Short-term assets cover short-term debts

    Current assets are 2.45 times current liabilities.

What to watch

  • Return on equity under 15%

    Return on equity was -5.3% over the last twelve months and averaged 0.5% over five years; we look for 15% on both.

  • High debt

    Debt is 43.9% of shareholders' equity, above the 40% we consider low.

  • Revenue growing under 10% a year

    Revenue grew 2.4% a year over the last three fiscal years, short of the 10% we look for.

  • Gross margin slipping

    Gross margin was 60.0% over the last twelve months, against 60.2% a year earlier.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B against the industry

    Needs positive book value.

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth1/6

  • Revenue growing under 10% a year

    Revenue grew 2.4% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 7.5% over the last twelve months; the Eating and Drinking Places median is 6.0%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin slipping

    Gross margin was 60.0% over the last twelve months, against 60.2% a year earlier.

Past performance0/6

  • Return on equity under 15%

    Return on equity was -5.3% over the last twelve months and averaged 0.5% over five years; we look for 15% on both.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity below the industry

    Biglari's return on equity of -5.3% is below the Eating and Drinking Places median of 7.2%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin below its 5-year average

    Net margin was -7.3% over the last twelve months, against a 5-year average of 1.1%.

  • Net margin below the industry

    Biglari's net margin of -7.3% is below the Eating and Drinking Places median of 1.9%.

Financial health3/6

  • High debt

    Debt is 43.9% of shareholders' equity, above the 40% we consider low.

  • Debt falling against equity

    Debt to equity fell from 46.7% five years ago to 43.9%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 35.3% of total debt.

  • Interest coverage

    Interest expense is not reported separately.

  • Short-term assets cover short-term debts

    Current assets are 2.45 times current liabilities.

  • Bankruptcy risk (Altman Z)

    Needs market value, working capital and retained earnings.

Dividend0/6

  • No dividend

    Biglari has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Biglari. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$67.74M
Value traded per 1% price move
$27.17M

Downside

Medium risk

Typical loss in a bad month
22.2%
Volatility (annualized)
50%
Sharpe ratio, 1 year
-0.00
Beta to the S&P 500 (5Y)
0.25

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2015 to 2025

Gross margin

59.2%+16.1 pts over 5 years

Net margin

-9.5%−0.7 pts over 5 years