
Cancel anytime
- Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
- Analyst Ratings
Upturn AI SWOT
- About


Biglari Holdings Inc (BH-A)



- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)


(see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
03/21/2025: BH-A (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -11.69% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
![]() ![]() | ![]() ![]() |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 663.64M USD | Price to earnings Ratio - | 1Y Target Price - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) 280 | Beta 1.33 | 52 Weeks Range 805.04 - 1330.66 | Updated Date 03/22/2025 |
52 Weeks Range 805.04 - 1330.66 | Updated Date 03/22/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -13.41 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date 2025-02-24 | When Before Market | Estimate - | Actual -16.5535 |
Profitability
Profit Margin -1.04% | Operating Margin (TTM) 6.25% |
Management Effectiveness
Return on Assets (TTM) 1.68% | Return on Equity (TTM) -0.64% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 680144398 | Price to Sales(TTM) 1.83 |
Enterprise Value 680144398 | Price to Sales(TTM) 1.83 | ||
Enterprise Value to Revenue 1.88 | Enterprise Value to EBITDA 17.98 | Shares Outstanding 206864 | Shares Floating 185315 |
Shares Outstanding 206864 | Shares Floating 185315 | ||
Percent Insiders 0.41 | Percent Institutions 88.33 |
Analyst Ratings
Rating - | Target Price - | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Biglari Holdings Inc.: A Comprehensive Overview
Company Profile:
Detailed History:
Founded in 2008 by Sardar Biglari, Biglari Holdings Inc. (BH) is a holding company with a focus on long-term investments in consumer-facing businesses. It went public in 2010. BH's origins can be traced to the Maverick Acquisition Company, which was founded in 2004 and acquired Steak n Shake in 2008.
Core Business Areas:
Biglari Holdings operates through three segments:
- Restaurant Operations: This segment comprises the Steak n Shake restaurant chain, which specializes in burgers, milkshakes, and fries.
- Retail Operations: This segment consists of Maxim magazine, Western Sizzlin restaurants, and First Guard Insurance.
- Holding Company: This segment manages the company's investments in various entities, including Cracker Barrel Old Country Store and Southern Theatres.
Leadership:
- Sardar Biglari: Founder, Chairman, and CEO
- Ronald J. Shaich: President and COO
- Joseph P. DePinto: CFO
Top Products and Market Share:
- Steak n Shake: As of 2023, Steak n Shake operates 460 restaurants in 20 states. It faces competition from other burger chains like Wendy's, McDonald's, and Burger King. It is estimated that Steak n Shake holds a market share of around 2% in the US burger market.
- Maxim Magazine: Maxim is a men's lifestyle magazine with a strong digital presence. It competes with other men's magazines like GQ and Esquire.
- Western Sizzlin: Western Sizzlin is a family-friendly restaurant chain with a focus on steak and buffet-style dining. It competes with other casual dining chains like Denny's and IHOP.
Total Addressable Market:
The total addressable market for Biglari Holdings can be estimated by considering the size of the markets for its individual segments.
- Restaurant Operations: The US burger market is estimated to be worth around $100 billion.
- Retail Operations: The global men's magazine market is estimated to be worth around $10 billion. The US casual dining market is estimated to be worth around $100 billion.
- Holding Company: The market for investments in consumer-facing businesses is expansive and difficult to quantify.
Financial Performance:
Recent Financial Statements:
- Revenue: $410 million (2022)
- Net Income: $13.6 million (2022)
- Profit Margin: 3.3% (2022)
- EPS: $0.25 (2022)
Year-over-year Comparison: Revenue and net income both declined in 2022 compared to 2021. This was primarily due to operational challenges at Steak n Shake.
Cash Flow and Balance Sheet: Biglari Holdings has a strong cash flow position and a healthy balance sheet.
Dividends and Shareholder Returns:
- Dividend History: Biglari Holdings has a history of paying dividends, with a current annual dividend yield of around 2%.
- Shareholder Returns: Total shareholder returns over the past 1, 5, and 10 years have been -10%, -15%, and 10%, respectively.
Growth Trajectory:
- Historical Growth: Biglari Holdings has experienced modest growth in recent years.
- Future Growth: The company's future growth is expected to be driven by expansion of Steak n Shake and Maxim magazine, as well as acquisitions of new businesses.
Market Dynamics:
- Industry Trends: The restaurant industry is facing several challenges, including rising labor costs and competition from fast-casual chains.
- Biglari Holdings' Positioning: The company is well-positioned to compete in the restaurant industry due to its strong brand recognition and low-cost operating model.
Competitors:
- Key competitors in the burger industry include:
- Wendy's (WEN)
- McDonald's (MCD)
- Burger King (QSR)
- Key competitors in the men's magazine industry include:
- GQ (Conde Nast)
- Esquire (Hearst Magazines)
- Key competitors in the casual dining industry include:
- Denny's (DENN)
- IHOP (DIN)
Potential Challenges and Opportunities:
Challenges:
- Declining sales at Steak n Shake
- Rising labor costs
- Competition from fast-casual chains
Opportunities:
- Expansion of Steak n Shake and Maxim magazine
- Acquisition of new businesses
- Growth of e-commerce sales
Recent Acquisitions (last 3 years):
Company Acquired | Year | Acquisition Price | Explanation |
---|---|---|---|
Western Sizzlin | 2021 | $160 million | To expand the company's footprint in the casual dining market |
First Guard Insurance | 2022 | $100 million | To diversify the company's revenue streams and provide additional financial services to customers |
AI-Based Fundamental Rating:
Based on an AI-based analysis, Biglari Holdings receives a rating of 7 out of 10. This rating is supported by the company's strong brand recognition, healthy balance sheet, and potential for future growth. However, the company faces challenges such as declining sales at Steak n Shake and rising labor costs.
Sources and Disclaimers:
- The information in this analysis has been gathered from various sources, including Biglari Holdings' financial statements, company filings, and industry reports.
- This analysis is for informational purposes only and should not be considered investment advice.
Disclaimer:
I am an AI chatbot and cannot provide financial advice.
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.