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BH 
Biglari Holdings Inc (BH)
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Upturn Advisory Summary
12/29/2025: BH (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star 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 24.78% | Avg. Invested days 31 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 12/29/2025 |
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 |
Upturn AI SWOT
Biglari Holdings Inc
Company Overview
History and Background
Biglari Holdings Inc. was founded in 2008. It is a diversified holding company with interests in restaurants, insurance, and other businesses. The company is known for its aggressive investment strategies and focus on shareholder value, often through the personal investment philosophy of its chairman and CEO, Sardar Biglari.
Core Business Areas
- Steak 'n Shake: A casual dining restaurant chain primarily known for its burgers and milkshakes. Biglari Holdings acquired a controlling stake in Steak 'n Shake in 2008.
- Cracker Barrel Old Country Store: While not a direct owner, Biglari Holdings has historically held a significant investment in Cracker Barrel, often engaging in activist investor roles.
- Insurance: The company has investments in insurance businesses, though details may vary over time due to strategic shifts.
Leadership and Structure
Biglari Holdings Inc. is a publicly traded company with a concentrated leadership structure, largely influenced by its Chairman and CEO, Sardar Biglari, who also serves as its principal investment manager.
Top Products and Market Share
Key Offerings
- Steak 'n Shake Restaurants: Offers classic American diner fare, including burgers, fries, and a wide variety of milkshakes. Market share data for individual restaurant chains is often highly fragmented and difficult to pinpoint definitively. Competitors include McDonald's, Burger King, Wendy's, Five Guys, and other casual dining establishments.
Market Dynamics
Industry Overview
The casual dining and quick-service restaurant industry is highly competitive and cyclical, influenced by consumer spending, economic conditions, and evolving food trends. The insurance sector is also subject to regulatory changes and economic factors.
Positioning
Biglari Holdings Inc. positions itself as a value-oriented holding company, aiming to acquire and manage businesses with strong cash flow generation potential and opportunities for operational improvement. Its approach is often characterized by a long-term investment horizon and a focus on shareholder returns, sometimes through activist strategies.
Total Addressable Market (TAM)
The TAM for the casual dining and fast-food industry is in the hundreds of billions of dollars globally. Biglari Holdings, through its investments, targets specific segments within this large market. Its positioning within this TAM is as a niche player and investor rather than a broad-market operator.
Upturn SWOT Analysis
Strengths
- Concentrated ownership and leadership, enabling swift decision-making.
- Focus on shareholder value and potential for activist engagement.
- Acquisition of established brands with recognized customer bases.
- Potential for operational improvements in acquired businesses.
Weaknesses
- Reliance on the performance of a few core investments.
- Potential for controversy or scrutiny due to activist investment tactics.
- Limited diversification compared to larger conglomerates.
- Transparency and public perception can be influenced by leadership's public profile.
Opportunities
- Acquisition of underperforming or undervalued businesses.
- Leveraging operational expertise to improve profitability of existing holdings.
- Strategic investments in growing sectors.
- Potential for market recovery and increased consumer spending.
Threats
- Intense competition in the restaurant and insurance sectors.
- Economic downturns impacting consumer discretionary spending.
- Changes in consumer preferences and dining habits.
- Regulatory changes affecting the insurance industry.
- Challenges in effective management of diverse business units.
Competitors and Market Share
Key Competitors
- McDonald's Corporation (MCD)
- Restaurant Brands International (RBI)
- The Wendy's Company (WEN)
- Chipotle Mexican Grill, Inc. (CMG)
Competitive Landscape
Biglari Holdings, primarily through Steak 'n Shake, competes in a highly saturated and competitive casual dining and fast-food market. Its competitive advantages lie in its ability to leverage a focused operational strategy and potentially its activist investor approach to drive value. However, it faces immense scale disadvantages against larger, more diversified global restaurant corporations.
Growth Trajectory and Initiatives
Historical Growth: Biglari Holdings Inc.'s growth has been largely driven by acquisitions and the strategic management of its portfolio companies, particularly Steak 'n Shake. Periods of growth have been marked by successful integration and operational improvements. However, challenges in the restaurant sector have also led to periods of stagnation or decline.
Future Projections: Future projections would depend on analyst assessments of the restaurant industry, the insurance market, and the company's ability to execute its investment and operational strategies. Specific projections are not publicly available in a generalized format and would require access to current analyst reports.
Recent Initiatives: Recent initiatives would include ongoing efforts to improve the performance of Steak 'n Shake, potentially exploring new investment opportunities, and managing its existing portfolio to maximize shareholder value.
Summary
Biglari Holdings Inc. is a diversified holding company with significant interests in the restaurant sector, most notably Steak 'n Shake. Its strengths lie in its focused leadership and potential for activist value creation. However, it faces intense competition and operational challenges within its core businesses, alongside limited diversification. The company's future success hinges on its ability to navigate these challenges and capitalize on strategic growth opportunities.
Similar Stocks
Sources and Disclaimers
Data Sources:
- SEC Filings (10-K, 10-Q)
- Company Investor Relations Websites
- Financial News and Analysis Sites (e.g., Bloomberg, Refinitiv, Yahoo Finance)
Disclaimers:
This analysis is based on publicly available information and may not be exhaustive. Market share data and financial figures are estimates and subject to change. This information is for informational purposes only and does not constitute investment advice.
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.
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 | Website https://www.biglariholdings.com |
Full time employees 2535 | Website https://www.biglariholdings.com | ||
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.
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