Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.
BH-A
STRONG SELLREMOVEBiglari Holdings Inc. · Consumer Cyclical · United States · $1.1B · Avg Vol: $33M/d
Biglari Holdings is a complex, idiosyncratic conglomerate with poor capital allocation alignment and no relevance to our 18-month macro themes.
COMPANY DESCRIPTION
Biglari Holdings Inc. is a diversified holding company primarily engaged in the restaurant and insurance sectors, with its most prominent asset being the Steak n Shake restaurant chain. The company benefits from the operational cash flows of its subsidiaries and a disciplined capital allocation strategy, managed by its founder Sardar Biglari. BH-A operates as a unique public holding company, often seen as a value-oriented investment vehicle.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR |
|---|---|---|---|---|---|
| Revenue | 368.2M | 365.3M | 362.1M | 395.3M | 2.4% |
| EPS | -1578.84 | 2784.46 | -197.63 | -2113.69 | — |
| Shares | 0.2M | 0.2M | 0.2M | 0.2M | 0.0% |
| Debt | 118.8M | 101.2M | 150.2M | 358.6M | 44.5% |
| Equity | 547.0M | 599.3M | 573.0M | 523.4M | -1.5% |
| Op CF | 127.8M | 73.0M | 49.7M | 107.0M | -5.8% |
| Inv CF | -136.6M | -66.1M | -87.4M | -65.5M | — |
| Fin CF | 3.9M | -16.1M | 39.5M | 196.5M | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Consumer Cyclical, ranked by industry match, size, and score similarity. Cross-listings of BH-A are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| BH-A | Biglari Holdings Inc.(you) | $1.1B | 12 | STRONG SELL |
| SG | Sweetgreen, Inc. | $1.0B | 11 | STRONG SELL |
| FWRG | First Watch Restaurant Group, Inc. | $724M | 3 | STRONG SELL |
| KRUS | Kura Sushi USA, Inc. | $588M | 8 | STRONG SELL |
| SHAK | Shake Shack Inc. | $2.4B | 10 | STRONG SELL |
| CBRL | Cracker Barrel Old Country Store, Inc. | $1.1B | 36 | HOLD |
| PTLO | Portillo's Inc. | $308M | 13 | STRONG SELL |
| WING | Wingstop Inc. | $4.3B | 15 | STRONG SELL |
| JACK | Jack in the Box Inc. | $226M | 9 | STRONG SELL |
| PZZA | Papa John's International, Inc. | $1.1B | 47 | HOLD |
Peer medians: ROE 10.3% · P/E 22.6x · Gross margin 37.5%