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Biglari Holdings Inc (BH)

Upturn stock ratingUpturn stock rating
$359.81
Last Close (24-hour delay)
Profit since last BUY12.51%
upturn advisory
Consider higher Upturn Star rating
BUY since 34 days
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Upturn Advisory Summary

10/15/2025: BH (2-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

rating

Below Average Performance

These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.

Analysis of Past Performance

Type Stock
Historic Profit 38.58%
Avg. Invested days 33
Today’s Advisory Consider higher Upturn Star rating
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 3.0
Stock Returns Performance Upturn Returns Performance 3.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 10/15/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 891.00M USD
Price to earnings Ratio -
1Y Target Price 500
Price to earnings Ratio -
1Y Target Price 500
Volume (30-day avg) -
Beta 0.97
52 Weeks Range 159.69 - 296.40
Updated Date 06/29/2025
52 Weeks Range 159.69 - 296.40
Updated Date 06/29/2025
Dividends yield (FY) -
Basic EPS (TTM) -43.87

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -16.21%
Operating Margin (TTM) 3.06%

Management Effectiveness

Return on Assets (TTM) 1.41%
Return on Equity (TTM) -10.29%

Valuation

Trailing PE -
Forward PE -
Enterprise Value 908505620
Price to Sales(TTM) 2.42
Enterprise Value 908505620
Price to Sales(TTM) 2.42
Enterprise Value to Revenue 2.47
Enterprise Value to EBITDA 10.45
Shares Outstanding 2068640
Shares Floating 185402
Shares Outstanding 2068640
Shares Floating 185402
Percent Insiders 0.43
Percent Institutions 88.02

ai summary icon Upturn AI SWOT

Biglari Holdings Inc

stock logo

Company Overview

overview logo History and Background

Biglari Holdings Inc. was formerly known as Steak n Shake Company and changed its name in 2008. Its history is rooted in the restaurant industry with the Steak n Shake chain as a primary asset. Over time, it has diversified into other businesses through acquisitions.

business area logo Core Business Areas

  • Steak n Shake: Owns and operates Steak n Shake restaurants, a classic American casual dining chain.
  • Western Sizzlin': Owns and operates Western Sizzlin' restaurants.
  • Insurance: Engaged in property and casualty insurance through First Guard Insurance Company.
  • Media: Owns Maxim magazine.

leadership logo Leadership and Structure

Sardar Biglari is the Chairman and CEO. The company operates with a decentralized structure where subsidiary companies have considerable autonomy.

Top Products and Market Share

overview logo Key Offerings

  • Steak n Shake Menu Items: Steakburgers, milkshakes, and fries are core products. Market share within the burger segment is relatively small compared to McDonald's, Burger King, and Wendy's. Competitors include McDonald's (MCD), Burger King (RBI), Wendy's (WEN).
  • First Guard Insurance Policies: Offers various property and casualty insurance products. Market share is small in the competitive insurance industry. Competitors include Progressive (PGR), Allstate (ALL), Geico (BRK.A).
  • Maxim Magazine: Men's lifestyle publication with content including articles, photos, and entertainment. Competitors include GQ (Condu00e9 Nast), Esquire (Hearst).

Market Dynamics

industry overview logo Industry Overview

The restaurant industry is highly competitive and subject to consumer trends and economic conditions. The insurance industry is regulated and faces challenges from rising claims costs. The media industry is shifting towards digital platforms.

Positioning

Biglari Holdings operates in diverse sectors, giving it a mixed competitive landscape. Steak n Shake competes on value and nostalgia. Insurance competes on niche coverage. Maxim competes in the men's lifestyle space.

Total Addressable Market (TAM)

The TAM for the restaurant industry is massive, worth hundreds of billions. The insurance and media segments are also multi-billion dollar industries. Biglari Holdings' position is relatively small within each of these TAMs.

Upturn SWOT Analysis

Strengths

  • Diversified Business Model
  • Strong Brand Recognition (Steak n Shake)
  • Experienced Leadership
  • Decentralized Operations

Weaknesses

  • Inconsistent Performance Across Segments
  • High Debt Levels
  • Reliance on Steak n Shake Turnaround
  • Limited Market Share in Key Segments

Opportunities

  • Steak n Shake Franchise Expansion
  • Digital Transformation of Maxim
  • Strategic Acquisitions
  • Insurance Product Innovation

Threats

  • Economic Downturn Impacting Restaurants
  • Rising Labor Costs
  • Increased Competition
  • Changes in Consumer Preferences
  • Regulatory Changes in Insurance

Competitors and Market Share

competitor logo Key Competitors

  • MCD
  • RBI
  • WEN
  • PGR
  • ALL
  • BRK.A

Competitive Landscape

Biglari Holdings competes in highly competitive industries. Its advantage lies in brand recognition of Steak n Shake and a value-oriented approach. Disadvantages include limited scale compared to larger competitors.

Major Acquisitions

Maxim

  • Year: 2014
  • Acquisition Price (USD millions): 12.5
  • Strategic Rationale: Diversified holdings into media, expanding reach and brand portfolio. Allows for diverse revenue streams but introduces a cyclical media component.

Growth Trajectory and Initiatives

Historical Growth: Growth has been uneven, with Steak n Shake facing challenges in recent years. Acquisitions have contributed to growth but also increased debt.

Future Projections: Future growth depends on Steak n Shake's turnaround, insurance performance, and strategic acquisitions. Analyst estimates are difficult to aggregate given the diversified nature.

Recent Initiatives: Recent initiatives include efforts to improve Steak n Shake's operations and explore strategic alternatives for various business segments.

Summary

Biglari Holdings is a diversified holding company with varying levels of success across its segments. Steak n Shake, a core asset, requires operational improvements to drive overall performance. The company's decentralized structure allows for flexibility, but also creates inconsistency in performance. Investors should monitor Steak n Shake's turnaround and debt levels for a balanced perspective on the company's future.

Peer Comparison

Sources and Disclaimers

Data Sources:

  • SEC Filings
  • Company Website
  • Industry Reports
  • Market Research Reports

Disclaimers:

The data and analysis provided are for informational purposes only and should not be considered financial advice. Investment decisions should be made based on individual circumstances and consultation with a qualified financial advisor.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Biglari Holdings Inc

Exchange NYSE
Headquaters 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 2535
Full time employees 2535

Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States. It owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. The company 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, it 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 and Maxim brand names. Further, it engages in the 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.