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Upturn AI Summary - About
Biglari Holdings Inc(BH-A)
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-A
09/24/2026: BH-A (1-star) is currently NOT-A-BUY. Pass it for now.
Biglari Holdings Inc is a diversified holding company structured around restaurant operations and property and casualty insurance. Its strength lies in its decentralized management and history of capital allocation. The primary investment story centers on the potential for long-term growth through the strategic optimization of its restaurant brands and the disciplined growth of its insurance subsidiaries. However, risks include high competition in the food service sector, leadership concentration, and exposure to economic volatility. The stock may suit value-oriented investors who are comfortable with the company's non-traditional business model and focus on long-term book value growth rather than regular dividend income.
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 driven by opportunistic capital allocation rather than consistent top-line expansion. |
| Momentum investor | Weak fit | The stock frequently exhibits low liquidity and lacks consistent short-term price momentum. |
| Value investor | Strong fit while signal remains positive | Value investors may appreciate the focus on long-term book value growth and capital allocation. |
| Dividend investor | Weak fit | The company does not pay dividends and prioritizes reinvestment or capital retention. |
| Low-risk investor | Weak fit | The company's reliance on specific market segments and high ownership concentration creates significant risks. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | Thin trading volume and specific asset concentrations contribute to sharp price movements. |
| Valuation risk | Medium | The complexity of valuing diverse subsidiaries makes it difficult to determine intrinsic value. |
| Competition risk (QSR and Insurance) | High | Intense industry competition puts constant pressure on margins and market share. |
| Business quality | Medium | The company owns a mix of legacy restaurant brands and niche insurance companies with varying quality. |
| Dividend income | Low / none | Income-focused investors will not find this stock suitable. |
| Execution risk | Medium / high | Management's ability to turnaround and operate diverse businesses is critical to performance. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit 34.08% | Avg. Invested days 36 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 09/24/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
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 - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) 23.6K shares | Beta 0.52 | 52 Weeks Range 1238.00 - 2513.00 | Updated Date 09/23/2026 |
52 Weeks Range 1238.00 - 2513.00 | Updated Date 09/23/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -112.93 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Restaurant Operations | Steak n Shake and Western Sizzlin' revenue from food and beverage sales. | Revenue is earned by selling meals to customers, which is sensitive to food costs and consumer demand. |
| Insurance Operations | Premiums earned from property and casualty insurance policies. | The company collects insurance premiums and invests the proceeds until claims are paid. |
| Investments | Income and capital gains from the company's investment portfolio. | Returns on capital are a major driver of the company's long-term book value. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE - | Enterprise Value 1.12B | Price to Sales(TTM) 2.75 |
Enterprise Value 1.12B | Price to Sales(TTM) 2.75 | ||
Enterprise Value to Revenue 2.76 | Enterprise Value to EBITDA 44.06 | Shares Outstanding 214.48K | Shares Floating 185.35K |
Shares Outstanding 214.48K | Shares Floating 185.35K | ||
Percent Insiders 0.39 | Percent Institutions 101.15 |
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 2018-05-01 | 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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