Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
Help & Tutorial 
Cancel anytime
- Chart
- Upturn Summary
- Highlights
- Valuation
Upturn AI SWOT - About
BH-A 
Biglari Holdings Inc (BH-A)
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)
Stock price based on last close (see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
08/28/2025: BH-A (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit -2.07% | Avg. Invested days 28 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 08/28/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 891.01M USD | Price to earnings Ratio - | 1Y Target Price - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.97 | 52 Weeks Range 805.04 - 1444.87 | Updated Date 06/28/2025 |
52 Weeks Range 805.04 - 1444.87 | Updated Date 06/28/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -219.46 |
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 206864 | Shares Floating 185402 |
Shares Outstanding 206864 | Shares Floating 185402 | ||
Percent Insiders 0.4 | Percent Institutions 88.49 |
Upturn AI SWOT
Biglari Holdings Inc
Company Overview
History and Background
Biglari Holdings Inc. was originally founded as Steak n Shake Company in 1934. Over time, it evolved into a holding company with interests in various industries. A significant milestone was the acquisition and restructuring led by Sardar Biglari, transforming the company into Biglari Holdings.
Core Business Areas
- Steak n Shake: Operates and franchises Steak n Shake restaurants, known for burgers and milkshakes.
- Western Sizzlin': Operates and franchises Western Sizzlin' restaurants, offering steak and buffet-style dining.
- Insurance: Engages in property and casualty insurance through First Guard Insurance Company.
- Media: Owns Maxim magazine and related licensing rights.
Leadership and Structure
Sardar Biglari serves as Chairman and CEO. The company operates with a decentralized structure, where each subsidiary maintains its own management team but reports to Biglari Holdings' corporate office.
Top Products and Market Share
Key Offerings
- Steak n Shake Burgers and Milkshakes: Steak n Shake is known for its burgers, milkshakes, and affordable prices. Market share information for the fast-casual burger segment is fragmented, with competitors including McDonald's (MCD), Wendy's (WEN), and Burger King (QSR).
- Western Sizzlin' Steaks and Buffets: Western Sizzlin' offers steak and buffet-style dining. The market is highly competitive with chains such as Golden Corral.
- First Guard Insurance Policies: First Guard provides worker's compensation and other related insurance for businesses. Market share depends on the states and segments where they compete. Competitors include Travelers (TRV), Hartford (HIG), and CNA Financial (CNA).
- Maxim Magazine: Maxim magazine and its digital properties offers content and branding. The digital media industry is highly competitive. Competitors include Playboy and other male-oriented magazines and websites.
Market Dynamics
Industry Overview
The restaurant industry is competitive and subject to changing consumer preferences. The insurance industry is regulated and affected by economic cycles. The media industry is undergoing digital transformation.
Positioning
Biglari Holdings occupies a unique position as a diversified holding company with a mix of restaurant, insurance, and media assets. Their competitive advantage stems from Sardar Biglari's value investing approach.
Total Addressable Market (TAM)
The TAM for each of Biglari Holding's businesses varies significantly. The restaurant TAM is multi-billion, insurance is multi-trillion and media is multi-billion. Biglari Holdings has small portions of these overall TAM's.
Upturn SWOT Analysis
Strengths
- Diversified business holdings
- Value investing approach
- Strong brand recognition (Steak n Shake)
- Disciplined capital allocation
Weaknesses
- High debt levels
- Dependence on key personnel (Sardar Biglari)
- Inconsistent performance across subsidiaries
- Maxim Magazine's industry decline
Opportunities
- Expansion of Steak n Shake through franchising
- Acquisitions of undervalued businesses
- Growth in the insurance sector
- Maxim brand development
Threats
- Economic downturn affecting consumer spending
- Increased competition in the restaurant and insurance industries
- Changes in consumer tastes
- Regulatory changes in the insurance industry
Competitors and Market Share
Key Competitors
- MCD
- WEN
- QSR
- DRI
- PLAY
Competitive Landscape
Biglari Holdings operates in competitive markets, facing larger, more established competitors. Its strengths lie in its value investing approach and brand recognition. A weakness is lack of market share versus larger competitors
Major Acquisitions
Maxim
- Year: 2014
- Acquisition Price (USD millions): 12.5
- Strategic Rationale: To diversify Biglari Holding's portfolio into media and entertainment.
Growth Trajectory and Initiatives
Historical Growth: Growth has been uneven, with periods of rapid expansion followed by consolidation. Key growth drivers include acquisitions and franchising.
Future Projections: Future growth is dependent on the successful execution of strategic initiatives and the overall economic environment. No specific analyst estimates provided.
Recent Initiatives: Recent initiatives include streamlining Steak n Shake operations, expanding insurance operations, and digital initiatives for Maxim.
Summary
Biglari Holdings is a diversified holding company with interests in restaurants, insurance, and media. It has a strong brand recognition, but operates in competitive industries. The company's growth trajectory is closely tied to its acquisition strategy and management's ability to improve operational efficiency. Investor sentiment and economic conditions could prove volatile in the coming years.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Industry reports
- News articles
Disclaimers:
The data provided is for informational purposes only and should not be considered financial advice. Market share information is approximate and based on available sources. All information is subject to change.
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 2018-05-01 | 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.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.