Biglari Holdings Inc. (BH) stock
BHNYSERetail-Eating PlacesFiscal year ends December 31Also trades as BH.A
$393.70+3.38 (+0.87%)
Close on Oct 30, 2026Market cap –P/E –Yield –
Biglari gross margin
Gross margin is gross profit as a percentage of revenue.
Biglari's gross margin for the twelve months ending Jun 30, 2026 was 60.0%. For fiscal 2025 it was 59.2%, against 60.4% the year before. The highest annual figure on record is 62.2% in fiscal 2023.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 59.2% | −1.2 |
| FY2024 | Dec 31, 2024 | 60.4% | −1.8 |
| FY2023 | Dec 31, 2023 | 62.2% | +0.3 |
| FY2022 | Dec 31, 2022 | 61.9% | +7.7 |
| FY2021 | Dec 31, 2021 | 54.3% | +11.1 |
| FY2020 | Dec 31, 2020 | 43.1% | +18.0 |
| FY2019 | Dec 31, 2019 | 25.1% | +3.7 |
| FY2018 | Dec 31, 2018 | 21.4% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q2 FY2026 | Jun 30, 2026 | 62.1% | +1.9 |
| Q1 FY2026 | Mar 31, 2026 | 61.6% | +1.3 |
| Q4 FY2025 | Dec 31, 2025 | 58.3% | −2.3 |
| Q3 FY2025 | Sep 30, 2025 | 58.1% | −1.9 |
| Q2 FY2025 | Jun 30, 2025 | 60.2% | +0.7 |
| Q1 FY2025 | Mar 31, 2025 | 60.3% | −1.3 |
| Q4 FY2024 | Dec 31, 2024 | 60.6% | −2.5 |
| Q3 FY2024 | Sep 30, 2024 | 59.9% | +0.4 |
| Q2 FY2024 | Jun 30, 2024 | 59.5% | −3.1 |
| Q1 FY2024 | Mar 31, 2024 | 61.5% | −2.2 |
| Q4 FY2023 | Dec 31, 2023 | 63.0% | −3.7 |
| Q3 FY2023 | Sep 30, 2023 | 59.5% | −1.2 |
| Q2 FY2023 | Jun 30, 2023 | 62.7% | +1.6 |
| Q1 FY2023 | Mar 31, 2023 | 63.7% | +5.1 |
| Q4 FY2022 | Dec 31, 2022 | 66.7% | +5.3 |
| Q3 FY2022 | Sep 30, 2022 | 60.7% | +11.5 |
| Q2 FY2022 | Jun 30, 2022 | 61.1% | +7.3 |
| Q1 FY2022 | Mar 31, 2022 | 58.6% | +7.0 |
| Q4 FY2021 | Dec 31, 2021 | 61.4% | +26.7 |
| Q3 FY2021 | Sep 30, 2021 | 49.2% | +16.0 |
| Q2 FY2021 | Jun 30, 2021 | 53.8% | +19.8 |
| Q1 FY2021 | Mar 31, 2021 | 51.6% | +25.2 |
| Q4 FY2020 | Dec 31, 2020 | 34.7% | +7.4 |
| Q3 FY2020 | Sep 30, 2020 | 33.2% | +9.1 |
| Q2 FY2020 | Jun 30, 2020 | 33.9% | +15.8 |
| Q1 FY2020 | Mar 31, 2020 | 26.4% | +13.9 |
| Q4 FY2019 | Dec 31, 2019 | 27.3% | +10.4 |
| Q3 FY2019 | Sep 30, 2019 | 24.0% | +6.3 |
| Q2 FY2019 | Jun 30, 2019 | 18.1% | −2.4 |
| Q1 FY2019 | Mar 31, 2019 | 12.6% | −5.5 |
| Q4 FY2018 | Dec 31, 2018 | 17.0% | −0.4 |
| Q3 FY2018 | Sep 30, 2018 | 17.8% | +0.6 |
| Q2 FY2018 | Jun 30, 2018 | 20.5% | +1.7 |
| Q1 FY2018 | Mar 31, 2018 | 18.0% | −1.4 |
| Q4 FY2017 | Dec 31, 2017 | 17.3% | – |
| Q3 FY2017 | Sep 30, 2017 | 17.1% | – |
| Q2 FY2017 | Jun 30, 2017 | 18.8% | – |
| Q1 FY2017 | Mar 31, 2017 | 19.5% | – |