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Upturn AI Summary - About
Biglari Holdings Inc(BH)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for BH
09/25/2026: BH (1-star) is currently NOT-A-BUY. Pass it for now.
Biglari Holdings Inc. is a diversified holding company structured around restaurant operations, property and casualty insurance, and licensing. Its main business strength lies in the steady cash flow provided by its insurance subsidiaries, which supports the company's long-term capital allocation strategy. The primary growth opportunity rests on the effective management of its diverse investment portfolio and the operational turnaround of its restaurant brands. Key risks include intense competition in the quick-service restaurant industry and the significant reliance on the CEO's capital allocation skills. The stock is best suited for value-oriented investors who are comfortable with the risks of a complex conglomerate and should monitor capital allocation shifts closely.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company's growth is episodic and dependent on capital allocation rather than steady organic expansion. |
| Momentum investor | Weak fit | The stock frequently experiences low volume and idiosyncratic price movements not tied to market momentum. |
| Value investor | Strong fit | The company operates as a holding entity often scrutinized for its intrinsic value relative to its investment portfolio. |
| Dividend investor | Weak fit | The company does not pay a regular dividend to shareholders. |
| Low-risk investor | Weak fit | The business model and stock price carry significant operational and market-related risks. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock price is subject to significant swings due to low float and reliance on investment portfolio performance. |
| Valuation risk | Medium | Determining the intrinsic value of a holding company with disparate assets can be complex. |
| Competition risk (QSR industry) | High | Steak n Shake faces stiff competition from much larger, well-capitalized QSR chains. |
| Business quality | Medium | The restaurant segment has historically faced operational struggles, impacting overall company quality. |
| Dividend income | Low / none | The company does not provide income to shareholders through dividends. |
| Execution risk | Medium / high | Success relies heavily on the CEO's ability to allocate capital effectively across varied industries. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit 25.08% | Avg. Invested days 38 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 09/25/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.11B USD | Price to earnings Ratio - | 1Y Target Price 500 |
Price to earnings Ratio - | 1Y Target Price 500 | ||
Volume (30-day avg) 162.1K shares | Beta 0.52 | 52 Weeks Range 234.91 - 483.60 | Updated Date 09/25/2026 |
52 Weeks Range 234.91 - 483.60 | Updated Date 09/25/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -22.38 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Restaurant Operations | Company-operated and franchised Steak n Shake and Western Sizzlin' units. | Profitability depends on restaurant-level margins and franchising fees. |
| Insurance | Underwriting premiums from First Guard and Southern Pioneer. | This provides cash float that the company invests, acting as a secondary engine for returns. |
| Licensing | Trademark and brand licensing agreements. | Low-cost revenue stream generated by brand presence. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Valuation
Trailing PE - | Forward PE 10.57 | Enterprise Value 1.12B | Price to Sales(TTM) 2.74 |
Enterprise Value 1.12B | Price to Sales(TTM) 2.74 | ||
Enterprise Value to Revenue 2.77 | Enterprise Value to EBITDA 44.17 | Shares Outstanding 2.11M | Shares Floating 185.35K |
Shares Outstanding 2.11M | Shares Floating 185.35K | ||
Percent Insiders 0.43 | Percent Institutions 95.26 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About Biglari Holdings Inc
Exchange NYSE | Headquarters San Antonio, TX, United States | ||
IPO Launch date 1992-02-25 | Chairman & CEO Mr. Sardar Biglari C.F.A. | ||
Sector Consumer Cyclical | Industry Restaurants | Full time employees 2359 | Website https://www.biglariholdings.com |
Full time employees 2359 | Website https://www.biglariholdings.com | ||
Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States. The company owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. It also engages in underwriting commercial truck insurance, including selling physical damage and non-trucking liability insurance to truckers; and property and casualty insurance and reinsurance. In addition, the company operates oil and natural gas properties offshore in Louisiana state waters and in the Permian Basin; and publishes, licenses, and sells magazines under the MAXIM brand names. Further, it involved investment activities. The company was formerly known as The Steak n Shake Company and changed its name to Biglari Holdings Inc. in April 2010. Biglari Holdings Inc. was founded in 1934 and is based in San Antonio, Texas.
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