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BH

Biglari Holdings Inc.

Consumer Cyclical · $1.1B market cap

Verdict

We can't put a fair value on BH right now. It lost money in at least 2 of its last 3 years, so one year of cash flow isn't a reliable base to value it on.

Business quality

0 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth5.5% a year✗
Equity per share growth7.0% a year✗
Sales growth-2.4% a year✗
Free cash flow growth2.3% a year✗
Return on invested capital2.5%✗

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Superinvestors

2 of the investors we track hold BH. Who we track

Steven Check

Check Capital Management · as of Q2 2026

$3.3M

1,562 shares

Steven Check

Check Capital Management · as of Q2 2026

$412K

967 shares

About Biglari Holdings Inc.

Biglari Holdings Inc., an enterprise established in 1934 and based in San Antonio, Texas, is a multifaceted company with its primary operations centered on managing and franchising restaurants throughout the United States. Its well-known dining brands include Steak n Shake and Western Sizzlin. By December 31, 2021, the company's restaurant network comprised 199 company-operated Steak n Shake locations, complemented…

Restaurants

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works