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Biglari Holdings Inc. (BH.A) stock

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NYSE: BH.A NYSE Restaurants Next results ~November 6, 2026

C Fundamentals grade

Biglari Holdings Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$4500

Cash-flow model

Base case. Range ~$3200–$6300 across our lower- and higher-growth cases (0.1%–10.1% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 150% above it.

Price used: $1810.62, November 3, 2026

Biglari Holdings Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 1 selling23 purchases and 17 sales by directors and officers, last 12 monthsInsider trades

Value diary

Our note on each quarter Biglari files

Where Biglari stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $406m, up 7.5% on a year earlier, slower than the 8.2% growth a quarter earlier. Free-cash-flow margin fell to 12.4% from 16.6% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. Our valuation models combined value is $469 a share, against a share price of $1,890.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 6, 2026 (estimated)

Biglari Holdings Inc.'s trailing-twelve-month revenue grew 7.5% year on year, with a free-cash-flow margin of 12.4%. Where it stands out: free-cash-flow margin of 12.4% ranks 7 of 44 restaurants companies we cover. Where it lags: net margin of -7.3% ranks 40 of 44 restaurants companies we cover.

Our discounted-cash-flow model values the business at ~$4500 per share in the base case (~$3200–$6300 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 26% in the quarter to 2018-12-31.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $1,913.73 is 137% below our value per share of $4,500.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 0.6 against the S&P 500.
  • Below peers: net margin. Net margin of -7.3% ranks 40 of 44 restaurants companies we cover (median 2.6%).
  • Below peers: days sales outstanding. Days sales outstanding of 22 days ranks 22 of 25 restaurants companies we cover (median 6 days).
  • Heavily shorted. 21.6% of the shares available to trade are sold short (0.3 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
-$18.71 against an average estimate of -$14.91: missed by 25.5%
Revenue
$109m, up 7.9% on a year earlier
Share reaction
-0.4% in the first session after the results on August 7, 2026, against +0.6% for the S&P 500

Biglari's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.4%
  • 1 week-3.1%
  • 1 month-0.5%
  • This year+10.0%
  • 1 year+5.0%
  • 5 years+149.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$406M
Net margin
-7.3%

Growth

Revenue growth
+7.5%
Change in growth rate
−0.6 pts

Cash

Free cash flow (TTM)
$50.3M
FCF margin
12.4%

Earnings

Last results
August 7, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Biglari Holdings Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 7.2% a year for five years.That is slower than the 2.1% a year revenue growth Biglari has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-7.2%
  • Last 12 months7.5%
  • 3 years a year2.7%
  • 5 years a year2.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($1810.62, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$4500
Price used
$1810.62close November 3, 2026
Implied change
▲ +150%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Biglari Holdings Inc.'s free cash flow after stock-based pay with after-tax interest added back ($57.5M, FY2026 Q2 TTM), growing 5.1% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$3200–~$6300 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Biglari Holdings Inc.'s free cash flow after stock-based pay ( $57.5M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Biglari Holdings Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.75 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$4500 ~$3200–$6300 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$370 ~$170–$720 Left out: out of range vs price (0.19x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$4500 ~$3200–$6300 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Biglari Holdings Inc. with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −28%
  • Revenue growth 5 points higher ▲ +37%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▼ −23%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $3076$4458$6293$8707$11855$15926
8.5% $2168$3170$4491$6220$8464$11354
10% $1619$2395$3412$4735$6444$8636

Moat

61 /100

Moderate moat

How hard Biglari's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 16.0% of total assets over 5 years.

  • Pricing power 11 / 20

    Gross margin has been a median 57.9%, moving by 18.5 percentage points (standard deviation) across 9 years.

  • Durability 0 / 20

    Net margin has been a median 4.2%; its worst year was -25.0%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 8 of 8 years, at a median 14.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Biglari Holdings Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Dec 2018 −$14.91 −$18.71 −25.5%
Jun 2018 −$6.30 −$0.23 +96.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 7, 2026

No numeric guidance in Biglari Holdings Inc.'s latest earnings release (filed August 7, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
21.6%
of tradable shares
Days to cover
0.33
at average volume
Short interest, 1 month
+14%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.4%
of shares
Employees
2,359
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BH.A+19%−1%+16%+61%+37%+10%
Industry peers (median)+15%−17%+15%−1%−10%+2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BH.A58%50%58%58%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BH.A−27%−34%−33%−25%−23%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since May 2, 2018: 76% from May 2, 2018 to May 15, 2020. Getting back needed a 323% gain, reached on December 3, 2024, 1663 days after the low.

Price behaviour

52-week range
$1333.84 – $2462.99
From 52-week high
−22.3%
vs 50-day average
+2.6%
vs 200-day average
+4.6%
Volatility (1 year)
50%
Beta vs S&P 500
0.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±6.4%
After a week
3 up, 9 down
typical move ±10.7%
After a month
5 up, 7 down
typical move ±11.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 7, 2026 −0.4% +0.6% −1.7% −8.4%
May 8, 2026 −16.2% +1.1% −12.2% +3.0%
March 2, 2026 −10.7% −0.8% −16.4% −12.4%
November 7, 2025 −8.3% +1.7% −13.3% −6.4%
August 8, 2025 +2.5% +0.6% +15.1% +12.4%
May 9, 2025 −2.5% +3.2% −1.5% +8.0%
March 3, 2025 −8.2% −2.9% −13.4% −7.1%
November 8, 2024 0.0% +0.5% +19.5% +25.6%
August 9, 2024 −4.7% +0.5% −4.8% −13.6%
May 10, 2024 −3.9% +0.1% −6.0% −9.2%
February 26, 2024 +17.7% −0.2% +21.5% +32.0%
November 3, 2023 +2.0% +1.1% −2.8% −2.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Biglari Holdings Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Biglari Holdings Inc.
$360M $380M $400M $420M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $373.1M Revenue (TTM), FY23 Q4: $365.3M Revenue (TTM), FY24 Q1: $364.6M Revenue (TTM), FY24 Q2: $362.2M Revenue (TTM), FY24 Q3: $361.7M Revenue (TTM), FY24 Q4: $362.1M Revenue (TTM), FY25 Q1: $367.7M Revenue (TTM), FY25 Q2: $377.2M Revenue (TTM), FY25 Q3: $386.5M Revenue (TTM), FY25 Q4: $395.3M Revenue (TTM), FY26 Q1: $397.7M Revenue (TTM), FY26 Q2: $405.6M $405.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $373.1M
FY23 Q4 $365.3M
FY24 Q1 $364.6M
FY24 Q2 $362.2M
FY24 Q3 $361.7M
FY24 Q4 $362.1M
FY25 Q1 $367.7M
FY25 Q2 $377.2M
FY25 Q3 $386.5M
FY25 Q4 $395.3M
FY26 Q1 $397.7M
FY26 Q2 $405.6M
Revenue growth, TTM YoY Biglari Holdings Inc.
-5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 1.2% Revenue growth, TTM YoY, FY23 Q4: -0.8% Revenue growth, TTM YoY, FY24 Q1: -2.3% Revenue growth, TTM YoY, FY24 Q2: -3.2% Revenue growth, TTM YoY, FY24 Q3: -3.1% Revenue growth, TTM YoY, FY24 Q4: -0.9% Revenue growth, TTM YoY, FY25 Q1: 0.9% Revenue growth, TTM YoY, FY25 Q2: 4.1% Revenue growth, TTM YoY, FY25 Q3: 6.9% Revenue growth, TTM YoY, FY25 Q4: 9.2% Revenue growth, TTM YoY, FY26 Q1: 8.2% Revenue growth, TTM YoY, FY26 Q2: 7.5% 7.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 1.2%
FY23 Q4 -0.8%
FY24 Q1 -2.3%
FY24 Q2 -3.2%
FY24 Q3 -3.1%
FY24 Q4 -0.9%
FY25 Q1 0.9%
FY25 Q2 4.1%
FY25 Q3 6.9%
FY25 Q4 9.2%
FY26 Q1 8.2%
FY26 Q2 7.5%
FCF margin (TTM) Biglari Holdings Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 14.3% FCF margin (TTM), FY23 Q4: 13.6% FCF margin (TTM), FY24 Q1: 13.8% FCF margin (TTM), FY24 Q2: 9.1% FCF margin (TTM), FY24 Q3: 7.2% FCF margin (TTM), FY24 Q4: 5.3% FCF margin (TTM), FY25 Q1: 3.5% FCF margin (TTM), FY25 Q2: 16.6% FCF margin (TTM), FY25 Q3: 21.0% FCF margin (TTM), FY25 Q4: 19.4% FCF margin (TTM), FY26 Q1: 20.5% FCF margin (TTM), FY26 Q2: 12.4% 12.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 14.3%
FY23 Q4 13.6%
FY24 Q1 13.8%
FY24 Q2 9.1%
FY24 Q3 7.2%
FY24 Q4 5.3%
FY25 Q1 3.5%
FY25 Q2 16.6%
FY25 Q3 21.0%
FY25 Q4 19.4%
FY26 Q1 20.5%
FY26 Q2 12.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 810 669 434 366 368 365 362 395 406
Gross profit 173 168 187 199 228 227 219 234 243
Net income 19 45 −38 35 −32 55 −4 −37 −30
Diluted EPS — $131.64 −$110.05 $111.83 −$107.43 $189.49 −$13.45 −$143.86 —
Growth (year on year)
Revenue — −17.4% −35.2% −15.6% +0.6% −0.8% −0.9% +9.2% +7.5%
Net income — +134.0% −183.7% — −190.2% — −106.8% — −175.3%
Diluted EPS — — −183.6% — −196.1% — −107.1% — —
Margins
Gross margin 21.4% 25.1% 43.1% 54.3% 61.9% 62.2% 60.4% 59.2% 60.0%
Net margin 2.4% 6.8% −8.8% 9.7% −8.7% 15.0% −1.0% −9.5% −7.3%
Free-cash-flow margin 0.7% 11.4% 22.3% 44.9% 26.6% 13.6% 5.3% 19.4% 12.4%
Cash flow
Cash from operations 21 94 118 229 128 73 50 107 84
Capital spending 15 18 21 65 30 23 31 30 34
Free cash flow 5 76 97 164 98 50 19 77 50
Balance sheet
Cash 49 68 25 42 37 28 31 269 68
Total debt 248 272 416 104 40 0 45 247 239
Net debt (negative = net cash) 199 205 392 62 3 −28 14 −22 170

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $1.1bn
Short-term assets $384mLonger-term assets $675m
What it owes, and who funded it · $1.1bn
Short-term liabilities $157mLonger-term liabilities $358mShareholders' equity $544m
  • Short-term assets cover short-term liabilities $384m of assets due within a year against $157m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $384m short-term assets against $358m of longer-dated liabilities.
  • More cash than debt $68m of cash against $239m of debt.
  • Debt below 40% of shareholders' equity Debt is 44% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 18% to 44% over five years.
  • A year's operating cash flow covers at least 20% of debt $84m of operating cash flow against $239m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Biglari Holdings Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Sales & admin spending
23.1%
of revenue
Days sales outstanding
22 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in restaurants
Last 12 months unless stated BH.A NDLS LOCO KRUS RICK SG Median
Revenue, last 12 months $406m $496m $501m $319m $284m $682m $1.4bn
Revenue growth, last 12 months 7.5% 0.2% 4.4% 18.4% 1.0% −0.6% 4.6%
Revenue growth, 3-year average 2.7% −1.4% 2.0% 22.3% −0.6% 9.4% 5.1%
Revenue growth, latest quarter 7.9% 0.5% 3.0% 16.2% 3.9% 3.8% 4.5%
Gross margin 60.0% — — — 84.6% — 68.6%
Operating margin — −2.6% 10.5% −1.4% 9.6% −21.4% 4.9%
Operating margin, 3-year average — −4.3% 9.3% −2.5% 9.6% −17.4% 6.9%
Net margin −7.3% −4.7% 7.0% −0.7% −1.5% 2.0% 2.5%
Cash from operations / revenue 20.8% 2.7% 14.8% 8.7% 15.0% −4.1% 11.9%
Free-cash-flow margin 12.4% 0.8% 8.2% −8.5% 12.2% −18.1% 3.4%
Free-cash-flow margin, 3-year average 12.7% −2.1% 5.9% −9.9% 10.6% −11.6% 2.8%
Stock pay / revenue — 0.7% 1.1% 1.5% 0.3% 4.3% 0.8%
Change in share count — −0.4% 1.1% 2.9% −8.9% 2.1% 0.2%

Median of all 44 companies we cover in restaurants. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 restaurants companies
Measure Company Peer median Rank
Revenue growth Growth 7.5% 4.7% 16 of 44
Change in growth rate Growth -0.6pp +0.3pp 30 of 44
Gross margin Profitability 60.0% 63.0% 9 of 15
Net margin Profitability -7.3% 2.6% 40 of 44
Free-cash-flow margin Cash generation 12.4% 3.6% 7 of 44
Long-term debt as % of assets Balance sheet 19.9% 29.0% 17 of 36
Days sales outstanding Balance sheet 22 days 6 days 22 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Restaurant Operations $281M ▲ 11.7%
Restaurant $281M ▲ 11.7%
Insurance $76.5M ▲ 5.2%
Oil and Gas $30.2M ▼ 18.2%
Maxim $7.7M ▲ 650.0%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue YoY
Restaurant Operations $281M ▲ 11.7%
Insurance Operations $76.5M ▲ 5.2%
Oil and Gas $30.2M ▼ 18.2%
Licensing and Media $7.7M ▲ 650.0%
Gift Cards $4.7M ▲ 10.3%
Advertising $3.4M ▲ 4.8%
Franchise $330,000 ▼ 28.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From Biglari Holdings Inc.'s 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Insider trading activity

Full insider history and chart
Insider purchases History → $22.4M 23 trades by 3 insiders, last 12 months Insider sales History → $9.2M 17 trades by 1 insider · 0% under pre-set plans
Net ▲ $13.2M net buying
Insider Date Trade Shares Price Value
Biglari, Sardar 10% owner October 16, 2026 Sell 25,556 $16.50 $421,674
Biglari, Sardar 10% owner August 7, 2026 Sell 550 $17.06 $9,383
Biglari, Sardar 10% owner August 5, 2026 Sell 40,000 $16.90 $676,000
Biglari, Sardar 10% owner August 3, 2026 Sell 10,000 $16.73 $167,300
Biglari, Sardar 10% owner July 30, 2026 Sell 273 $16.70 $4,559
Biglari, Sardar 10% owner July 29, 2026 Sell 3,305 $16.71 $55,227
Biglari, Sardar 10% owner July 29, 2026 Sell 3,306 $16.71 $55,243
Biglari, Sardar 10% owner July 17, 2026 Sell 11,000 $16.71 $183,810
Biglari, Sardar 10% owner July 16, 2026 Sell 2,749 $16.70 $45,908
Biglari, Sardar 10% owner July 15, 2026 Sell 6,533 $16.71 $109,166
Biglari, Sardar 10% owner July 14, 2026 Sell 1,211 $16.73 $20,260
Biglari, Sardar 10% owner July 13, 2026 Sell 75,000 $16.74 $1.3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • August 7, 2026
  • May 8, 2026
  • March 2, 2026
  • November 7, 2025
  • August 8, 2025
  • May 9, 2025

Recent SEC filings

Data status

When each part of this page on Biglari Holdings Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Biglari Holdings Inc. in brief

What does Biglari Holdings Inc. do?
Biglari Holdings Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.
What is Biglari Holdings Inc.'s stock ticker?
Biglari Holdings Inc. trades under the ticker BH.A on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Biglari Holdings Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Biglari Holdings Inc. reported revenue of $406M, 7.5% higher than a year earlier, according to its SEC filings.
What is Biglari Holdings Inc.'s free cash flow?
Biglari Holdings Inc.'s free-cash-flow margin is 12.4% of revenue over the trailing twelve months, ranking 7 of the 44 restaurants companies we cover.
What is Biglari Holdings Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Biglari Holdings Inc.'s free cash flow after stock-based pay gives ~$4500 per share in the base case, and ~$3200–$6300 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
How much debt does Biglari Holdings Inc. have?
Biglari Holdings Inc.'s debt-to-equity ratio is 43.9%, from its latest balance sheet (17.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Biglari Holdings Inc.'s competitors?
In our Restaurants peer group, the companies closest to Biglari Holdings Inc. are Noodles & Co, El Pollo Loco Holdings, Inc., Kura Sushi USA, Inc., RCI Hospitality Holdings, Inc. and Sweetgreen, Inc. The side-by-side comparison below sets their revenue, margins and growth against Biglari Holdings Inc.'s.
Are insiders buying or selling Biglari Holdings Inc. stock?
Over the last 12 months, Biglari Holdings Inc.'s directors and officers reported 23 open-market purchases and 17 sales on Form 4. The insider trading page charts every trade.
When is Biglari Holdings Inc.'s next earnings date?
Around November 6, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Biglari Holdings Inc. announces its own schedule.