Biglari Holdings Inc.
Rank #324DeclineBH · NYSE · Consumer Cyclical
Biglari Holdings Inc. (BH) — Rank #324 by gross profitability (GP/assets 0.22) · ROE -6.9% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0001726173 · all metrics point-in-time as of the filing date.
About
Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States.
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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.
- Industry
- Restaurants
- Sector
- Consumer Cyclical
- State
- IN
- Filer Category
- Accelerated filer
- Fiscal Year End
- December 31
- Website
- biglariholdings.com
Financials
Stable
Direction over 5 fiscal years
- Free cash flowstable
- Gross marginimproving
- Gross profitabilityimproving
- Net cashimproving
- Operating marginn/a
- Return on equitydeteriorating
- Share count (dilution)n/a
Monitoring diagnostic of business direction — not a prediction of returns.
Each fiscal year is read as-of that year’s own 10-K filing, so nothing restated after the fact leaks backwards. Line items this filer never tagged are omitted. Hover or tap a badge for the diagnostic behind it.
| Fiscal year end | 2022-12-31filed 2023-02-27 | 2021-12-31filed 2022-02-28 | 2020-12-31filed 2021-03-01 | 2019-12-31filed 2020-02-24 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | 368.2 | 366.1 | 433.7 | — |
| Revenue growth (YoY) | -44.9% | -45.3% | -35.2% | — |
| Gross profit | 228.0 | 198.6 | 187.0 | — |
| Gross margin | 61.9% | 54.3% | 43.1% | — |
| Net income | (32.0) | 35.5 | (38.0) | 45.4 |
| Net margin | -8.7% | 9.7% | -8.8% | — |
| EPS (diluted) | -$107.43 | $111.83 | — | — |
| EPS growth (YoY) | -196.1% | — | — | — |
| Cash flow | ||||
| Operating cash flow | 127.8 | 228.8 | 117.6 | — |
| Capital expenditures | 29.7 | 64.5 | 20.7 | — |
| Free cash flow | 98.1 | 164.2 | 96.9 | — |
Figures are as originally filed with the SEC (point-in-time), not restated, so they can differ slightly from sites that show later-restated numbers. Why point-in-time?