Biglari Holdings Inc. (BH) Stock Price & Analysis
Biglari Holdings Inc. (BH) is trading at USD 390.16, down 1.31% today, as of October 23, 2026 at 14:17 UTC (US market open; quotes may be delayed), according to Nexqual market data.
BH last closed at USD 390.16; today's session has ranged USD 390–395.5 on volume of 18,248 shares. Market capitalization is —, with a 52-week range of USD 234.92–483.6 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 14:20 UTC.
Also available as compact Markdown for AI agents: nexqual.com/BH.md
Key facts (BH)
- Last four reported quarters (through Jun 30, 2026): revenue $406M, net income -$29.7M (-7.3% margin), free cash flow $50.3M (SEC filings).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $14.1M; 0 by opportunistic insiders, 2 by routine insiders.
- Total return with dividends: 1Y +4.7% vs S&P 500 +14.4%; 5Y +134.7% vs S&P 500 +77.0%.
- Next earnings: 2026-11-06, EPS estimate USD —, revenue estimate $0K.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (BH)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $366M | $368M | $365M | $362M | $395M | $406M |
| Gross profit | $199M | $228M | $227M | $219M | $234M | — |
| Net income | $35.5M | -$32.0M | $54.9M | -$3.8M | -$37.5M | -$29.7M |
| EPS (diluted) | $111.83 | -$107.43 | $189.49 | -$13.45 | -$143.86 | — |
| Free cash flow | $164M | $98.1M | $49.6M | $19.1M | $76.6M | $50.3M |
| Gross margin | 54.3% | 61.9% | 62.2% | 60.4% | 59.2% | — |
| Net margin | 9.7% | -8.7% | 15.0% | -1.0% | -9.5% | -7.3% |
| Revenue growth | -15.6% | +0.6% | -0.8% | -0.9% | +9.2% | — |
| Cash + short-term investments | $42.3M | $37.5M | $28.1M | $30.7M | $269M | — |
| Total debt | $104M | — | — | $45.0M | $247M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (BH)
Insider purchases (SEC Form 4, open-market, last ~7 months) (BH)
2 purchases, $14.1M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-04…2026-06-05 | Biglari, Sardar | Chairman and CEO | 2,278 | $659K | 289.2 | Routine (bought in Dec each year 2023–2025; this trade is outside those months) |
| 2026-05-12…2026-05-14 | Biglari, Sardar | Chairman and CEO | 52,674 | $13.4M | 255.15 | Routine (bought in Dec each year 2023–2025; this trade is outside those months) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Total return (dividends reinvested) (BH)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +4.7% | +134.7% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +4.7% | +18.6% |
| Volatility (annualized) | 54.0% | 43.2% |
| Max drawdown | -48.0% (Jan 2026→May 2026) | -42.8% (Jan 2026→May 2026) |
BH revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Restaurant | $74.7M | 68.9% | +3.8% |
| Restaurant | $74.7M | 68.9% | +3.8% |
| Insurance | $19.0M | 17.5% | +1.1% |
| Oil And Gas | $11.3M | 10.4% | +50.2% |
| Brand Licensing | $3.5M | 3.2% | +53.3% |
| Total revenue | $108.5M | 100% | — |
BH revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Restaurant | $74.7M | 68.9% | +3.8% |
| — Product (part of Restaurant) | $45.6M | 42.1% | -2.6% |
| — Franchisor (part of Restaurant) | $23.1M | 21.3% | +14.8% |
| — Royalty (part of Restaurant) | $3.4M | 3.1% | +7.1% |
| — Product & Service Other (part of Restaurant) | $2.6M | 2.4% | +38.0% |
| Insurance Underwriting | $17.7M | 16.3% | +3.1% |
| Oil and gas | $11.3M | 10.4% | +50.2% |
| Investment Income1 | $717,000 | 0.7% | -14.5% |
| Total revenue | $108.5M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
BH suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Shake | “We believe the franchise partner information is useful to readers, as it has a direct effect on Steak n Shake's profitability.” |
Quoted from the company's 10-K filed Mar 2, 2026.
BH analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year (ends Dec 2019) | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |
Key Statistics (as of October 23, 2026 at 14:20 UTC)
| Price | USD 390.16 |
|---|---|
| Change | ▼ 1.31% (down) |
| Previous Close | USD 390.16 |
| Open | USD 390.16 |
| Day Range | USD 390 – 395.5 |
| 52-Week Range | USD 234.92 – 483.6 |
| Volume | 18,248 shares |
| Market Cap | — |
| Exchange | NYQ |
Technical Analysis (BH)
Nexqual's technical model rates BH "BUY" based on 4 bullish and 1 bearish signals across 128 daily candles, as of October 23, 2026 at 14:20 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 51.35 (neutral) |
| vs SMA50 | Above (USD 376.2) |
| MACD | 13.53 (positive) |
Earnings (BH)
| Next Earnings Date | 2026-11-06 |
|---|
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2018-12-31 | USD -3.74 vs est -2.98 ▼ miss |
| 2018-09-30 | USD -0.47 vs est -0.54 ▲ beat |
| 2018-06-30 | USD -0.05 vs est -1.26 ▲ beat |
Source: Nexqual, October 23, 2026 at 14:20 UTC.
Financials & Fundamentals (BH)
| Total Revenue | $405.61M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +7.90% |
| Gross Margin | +39.13% |
| Operating Margin | +7.74% |
| Profit Margin | -7.33% |
| ROE | -5.25% |
| Debt / Equity | 0.66 |
| Current Ratio | 2.45 |
| Total Cash | $342.72M |
| Total Debt | $358.45M |
Source: Nexqual, October 23, 2026 at 14:20 UTC.
Ownership (BH)
| Insider Ownership | +0.43% |
|---|---|
| Institutional Ownership | +95.24% |
| Shares Outstanding | 2.11M |
| Float | 185,349 |
| Short % of Float | +3.64% |
Source: Nexqual, October 23, 2026 at 14:20 UTC.
From Biglari Holdings Inc.'s Latest SEC 10-K Filing (filed 2026-03-02)
Legal & Regulatory Risks (Item 1A, quoted)
- Litigation could have a material adverse effect on our financial position, cash flows, and results of operations.
- We are subject to health, employment, environmental, and other government regulations, and failure to comply with existing or future government regulations could expose us to litigation or penalties, damage our reputation, and lower profits.
- The development and construction of restaurants is subject to compliance with applicable zoning, land use, and environmental regulations. Difficulties in obtaining, or failure to obtain, the required licenses or approvals could delay or prevent the development of a new restaurant in a particular area.
- Our oil and gas business can be adversely affected by political or regulatory developments affecting our operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| WEN | Wendy's Company (The) | USD 6.26 | ▼ 4.79% |
| BJRI | BJ's Restaurants, Inc. | USD 56.44 | ▼ 4.01% |
| SG | Sweetgreen, Inc. | USD 9.92 | ▼ 2.98% |
| CBRL | Cracker Barrel Old Country Stor | USD 66.54 | ▼ 1.14% |
| ARCO | Arcos Dorados Holdings Inc. | USD 7.88 | ▼ 1.81% |
| BLMN | Bloomin' Brands, Inc. | USD 9.7 | ▼ 5.6% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 14:20 UTC. This page is informational and not investment advice.
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