BH Consumer CyclicalBeta data

Biglari Holdings Inc.

$371.81-4.23%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Consumer Cyclical
Industry: Restaurants
Country: United States
Market cap: 1.2B USD
Enterprise value: 271.4M USD
Full-time employees: 2,359

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: less profitable than most peersless profitable than peers
About average: growth

Ranks #675 of 1,502 consumer cyclical companies (top 45%)

See how it ranks against its peers

Worth knowing

Borrowing rising faster than profit. Since 2022: debt +2370%, operating profit −48%.
Biglari's debt grew 2370% since 2022 while operating profit changed −48%.
Valuation signals disagree. Cheaper than 93% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 93% of peers on operating cash profit, but only 0% on earnings.
Relative to its operating cash profit (EBITDA), Biglari looks cheaper than 93% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Biglari looks cheaper than 93% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Sales growing faster than profits. Since 2022: revenue +7.3%, operating profit −48%.
Since 2022, Biglari's revenue changed +7.3% while operating profit fell 48%: costs rose faster than sales.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $40M profit in the quarter to June 2026.
Biglari reported a net loss over the last twelve months, but its most recent quarter was profitable ($40M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

StockQuotient Score

54/ 100▲ 2 since Oct 27 close

Oct 5 53 → Nov 4 54 (+1)

Fundamentals: Yahoo Finance, not primary filings

Valuation

Is the price right?

78/100

Moderate▲ 9 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 69 → 78

Share price -3.7%+2
Company's reported figures updated+5
Peer companies moved+2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-6.1%

Yahoo Finance · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.34Sector median: 0.0439 · MAD: 0.0329

EBITDA yield23.9%

Yahoo Finance · trailing 12 monthsReported value50% base weight · Z-score 3.29Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield4.2%

Yahoo Finance · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score -0.35Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield233.0%

Yahoo FinanceReported valueInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

54/100

Moderate

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Helped by:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0420 · MAD: 0.2537

3-year revenue growth2.7%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.24Sector median: 0.0425 · MAD: 0.0636

Revenue growth7.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.58Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

14/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin1.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.00Sector median: 0.0638 · MAD: 0.0461

Return on assets-2.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.41Sector median: 0.0331 · MAD: 0.0254

Return on invested capital0.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.09Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin39.1%

Yahoo Finance · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equity-5.3%

Yahoo Finance · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.51

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.41Sector median: 0.6345 · MAD: 0.2980

Current ratio2.45×

Yahoo FinanceReported value33% base weight · Z-score 1.74Sector median: 1.4800 · MAD: 0.5570

Debt / equity0.66×

Yahoo FinanceReported value33% base weight · Z-score -0.55Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Biglari

Is Biglari getting weaker?: Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is 54/100, up 2 since Oct 28, 2026.
How is Biglari valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 78/100 against 1,612 consumer cyclical peers. EBITDA yield 23.9% vs a peer median of 8.8% (stronger than 93% of peers).EBITDA yield 23.9% vs peers 8.8% (stronger than 93% of peers). Earnings yield -6.1% vs a peer median of 4.4% (weaker than 100% of peers).Earnings yield -6.1% vs peers 4.4% (weaker than 100% of peers).
Is Biglari growing?: At about the same pace as its peers. Growth scores 54/100 against 1,612 consumer cyclical peers. Revenue growth 7.5% vs a peer median of 3.7% (stronger than 66% of peers).Revenue growth 7.5% vs peers 3.7% (stronger than 66% of peers).
How profitable is Biglari?: Less profitable than most of its peers. Profitability scores 14/100 against 1,612 consumer cyclical peers. Return on assets -2.8% vs a peer median of 3.3% (weaker than 92% of peers).Return on assets -2.8% vs peers 3.3% (weaker than 92% of peers).
How risky is Biglari?: Lower risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Current ratio 2.45× vs a peer median of 1.48× (stronger than 79% of peers).Current ratio 2.45× vs peers 1.48× (stronger than 79% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Worth watching: Biglari is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	397.7M USD	405.6M USD	+2.0%
Net income (12 months)	−18.7M USD	−29.7M USD	+58.7%
Operating margin	1.2%	1.8%	+0.6 pts
Free cash flow (12 months)	81.5M USD	50.3M USD	−38.2%
Debt	239.9M USD	238.5M USD	−0.6%
Cash	200.1M USD	68.4M USD	−65.8%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Restaurants · 19 companies

Valuations in Restaurants are within their usual range since 2016.

40% of months since 2016 were valued lower than now.
12% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +13% and earnings +17% (medians): earnings grew faster than prices.
Median price-to-sales is −28% vs the whole market, against a usual −11%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	54.3%	61.9%	62.2%	60.4%	59.2%	▼ 1.2 pts
Operating margin	6.8%	9.9%	11.8%	9.0%	4.8%	▼ 4.2 pts
Net margin	9.7%	-8.7%	15.0%	-1.0%	-9.5%	▼ 8.4 pts
Return on assets (ROA)	4.0%	-3.9%	6.5%	-0.4%	-3.7%	▼ 3.2 pts
Return on equity (ROE)	6.0%	-5.9%	9.2%	-0.7%	-7.2%	▼ 6.5 pts
Free cash flow margin	44.9%	26.6%	13.6%	5.3%	19.4%	▲ 14 pts
Current ratio	1.15×	1.12×	1.37×	1.16×	2.43×	▲ 110%
Quick ratio	1.12×	1.09×	1.35×	1.13×	2.40×	▲ 112%
Debt to equity	0.18×	0.02×	0.00×	0.08×	0.47×	▲ 501%
Interest coverage	22.22×	91.03×	63.43×	42.24×	2.28×	▼ 95%

BH price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Pop Mart International Group Limited9992.HK91/ 100

Bringing the fundamentals into focus…

Worth knowing

Borrowing rising faster than profit. Since 2022: debt +2370%, operating profit −48%.

Biglari's debt grew 2370% since 2022 while operating profit changed −48%.

Valuation signals disagree. Cheaper than 93% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 93% of peers on operating cash profit, but only 0% on earnings.

Relative to its operating cash profit (EBITDA), Biglari looks cheaper than 93% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Biglari looks cheaper than 93% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Sales growing faster than profits. Since 2022: revenue +7.3%, operating profit −48%.

Since 2022, Biglari's revenue changed +7.3% while operating profit fell 48%: costs rose faster than sales.

Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $40M profit in the quarter to June 2026.

Biglari reported a net loss over the last twelve months, but its most recent quarter was profitable ($40M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

Questions investors ask about Biglari

Is Biglari getting weaker?

Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is 54/100, up 2 since Oct 28, 2026.

How is Biglari valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 78/100 against 1,612 consumer cyclical peers. EBITDA yield 23.9% vs a peer median of 8.8% (stronger than 93% of peers).EBITDA yield 23.9% vs peers 8.8% (stronger than 93% of peers). Earnings yield -6.1% vs a peer median of 4.4% (weaker than 100% of peers).Earnings yield -6.1% vs peers 4.4% (weaker than 100% of peers).

Is Biglari growing?

At about the same pace as its peers. Growth scores 54/100 against 1,612 consumer cyclical peers. Revenue growth 7.5% vs a peer median of 3.7% (stronger than 66% of peers).Revenue growth 7.5% vs peers 3.7% (stronger than 66% of peers).

How profitable is Biglari?

Less profitable than most of its peers. Profitability scores 14/100 against 1,612 consumer cyclical peers. Return on assets -2.8% vs a peer median of 3.3% (weaker than 92% of peers).Return on assets -2.8% vs peers 3.3% (weaker than 92% of peers).

How risky is Biglari?

Lower risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Current ratio 2.45× vs a peer median of 1.48× (stronger than 79% of peers).Current ratio 2.45× vs peers 1.48× (stronger than 79% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

397.7M USD

405.6M USD

+2.0%

Net income (12 months)

−18.7M USD

−29.7M USD

+58.7%

Operating margin

1.2%

1.8%

+0.6 pts

Free cash flow (12 months)

81.5M USD

50.3M USD

−38.2%

Debt

239.9M USD

238.5M USD

−0.6%

Cash

200.1M USD

68.4M USD

−65.8%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

54.3%

61.9%

62.2%

60.4%

59.2%

▼ 1.2 pts

Operating margin

6.8%

9.9%

11.8%

9.0%

4.8%

▼ 4.2 pts

Net margin

9.7%

-8.7%

15.0%

-1.0%

-9.5%

▼ 8.4 pts

Return on assets (ROA)

4.0%

-3.9%

6.5%

-0.4%

-3.7%

▼ 3.2 pts

Return on equity (ROE)

6.0%

-5.9%

9.2%

-0.7%

-7.2%

▼ 6.5 pts

Free cash flow margin

44.9%

26.6%

13.6%

5.3%

19.4%

▲ 14 pts

Current ratio

1.15×

1.12×

1.37×

1.16×

2.43×

▲ 110%

Quick ratio

1.12×

1.09×

1.35×

1.13×

2.40×

▲ 112%

Debt to equity

0.18×

0.02×

0.00×

0.08×

0.47×

▲ 501%

Interest coverage

22.22×

91.03×

63.43×

42.24×

2.28×

▼ 95%