Stocks · Consumer Cyclical · Restaurants
Biglari Holdings Inc. BH
$363.76 +1.84% Close, Oct 2, 2026 · NYSE · Market cap $1.14B
Expensive vs sector
Next earnings report: Nov 6, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $-9.69, down 155.7% year over year.
- Net debt is 10.2× EBITDA, a high level of leverage.
- Revenue over the last four quarters was $405.6M, up 7.5% from a year earlier.
PromtFinance scores
Each score is a percentile within the Consumer Cyclical sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 35%
- EPS growth (TTM, YoY)Bottom 8%
- FCF growth (TTM, YoY)Bottom 27%
- Revenue growth, 3-year CAGRTop 48%
- Revenue growth accelerationBottom 37%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 37%
- Gross marginBottom 46%
- Operating marginTop 37%
- Accruals (lower is better)Top 16%
- Net debt / EBITDA (lower is better)Bottom 9%
- Interest coverBottom 37%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 22%
- Free-cash-flow yieldBottom 40%
- EBITDA / enterprise valueBottom 17%
- Sales / enterprise valueBottom 13%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 25%
- 6-month returnTop 35%
- 1-year return vs S&P 500Top 30%
- Distance from 52-week highTop 44%
- Trend checklist (0–4)Top 20%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 6%
- Consecutive EPS beatsTop 38%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 34%
- Maximum drawdown, 3 yearsTop 39%
- Beta vs S&P 500 (lower is better)Top 7%
- Net debt / EBITDA (lower is better)Bottom 9%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 8.2% | 7.5% | ↓ |
| Gross margin | 35.4% | 33.9% | ↓ |
| Operating margin | 7.9% | 9.5% | ↑ |
| FCF margin | 16.6% | 12.3% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 7.5% | 8.2% | ↓ | Top 35% |
| EPS growth (TTM, YoY) | -155.7% | — | Bottom 8% | |
| Gross margin | 33.9% | 35.4% | ↓ | Bottom 46% |
| Operating margin | 9.5% | 7.9% | ↑ | Top 37% |
| Net margin | -7.3% | 10.5% | ↓ | — |
| Free-cash-flow margin | 12.3% | 16.6% | ↓ | — |
| Return on invested capital | 3.6% | — | Bottom 37% | |
| Revenue growth, 3-year CAGR | 2.4% | — | Top 48% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -10.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +11.0 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 10.16×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -1.31%
- Shareholder yield
- -1.31%
- Share count change, 1 year
- +1.2%
- Share count change, 3-year CAGR
- +29.1%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 7, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 3
- Beats in the last 8 reports
- 3 of 4
- Average EPS surprise, last 4
- +100.0%
- Average 2-day reaction, last 8
- -2.8%
- Positive 20 days after report
- 3 of 8
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 7, 2026 | — | -0.9% | -0.5% | -1.2% | — |
| May 8, 2026 | — | +2.0% | -14.1% | -2.4% | +30.7% |
| Feb 28, 2026 | — | -13.2% | -21.5% | -21.1% | -28.7% |
| Nov 7, 2025 | +665.3% | -0.4% | -11.2% | -15.8% | +11.4% |
| Aug 8, 2025 | +351.2% | -2.2% | +2.5% | +10.7% | +28.4% |
| May 9, 2025 | +1420.3% | -1.5% | -1.7% | +8.4% | +20.0% |
| Mar 1, 2025 | -1235.8% | -6.7% | -11.1% | -11.8% | +2.4% |
| Nov 8, 2024 | — | +0.4% | +17.9% | +27.7% | +29.7% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 7, 2026 | $1.58 | — | — | $108.5M |
| May 8, 2026 | -$0.56 | — | — | $97.5M |
| Feb 28, 2026 | -$2.38 | — | — | $99.9M |
| Nov 7, 2025 | $23.46 | -$4.15 | +665.3% | $99.7M |
| Aug 8, 2025 | $9.17 | -$3.65 | +351.2% | $100.6M |
| May 9, 2025 | $23.37 | -$1.77 | +1420.3% | $95.0M |
| Mar 1, 2025 | -$36.60 | -$2.74 | -1235.8% | $91.1M |
| Nov 8, 2024 | $1.15 | — | — | $90.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / EBITDA | 62.7× | — | — | Bottom 17% |
| EV / Sales | 3.36× | — | — | Bottom 13% |
| Free-cash-flow yield | 4.37% | — | — | Bottom 40% |
| Earnings yield | -2.66% | — | — | Bottom 22% |
P/E over the past five years
Range 2.5× – 22.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +12.6%
- Earnings per share growth (TTM)
- -155.7%
- Change in P/E multiple
- +34.8%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 2
- 50-day average slope (20 days)
- -4.5%
- 200-day average slope (20 days)
- +1.4%
- Distance from 50-day average
- -2.7%
- Distance from 200-day average
- +2.5%
- RSI (14)
- 52.8
- Relative volume
- 0.36×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 35.9%
- Volatility vs own 5-year history
- 54th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.48
- Correlation with S&P 500
- 0.14
- Current drawdown from 1-year high
- -23.7%
- Maximum drawdown, 3 years
- -48.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 21, 2026 | May 11, 2026 | -48.0% | 76 days | Not yet recovered |
| Jun 14, 2021 | Feb 23, 2022 | -39.6% | 176 days | 301 days (May 5, 2023) |
| Jun 2, 2023 | Nov 13, 2023 | -33.4% | 113 days | 126 days (May 15, 2024) |
| Oct 24, 2025 | Nov 20, 2025 | -27.0% | 19 days | 31 days (Jan 7, 2026) |
| Dec 24, 2024 | Apr 7, 2025 | -23.6% | 69 days | 43 days (Jun 9, 2025) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.14B
- EPS, diluted (TTM)
- -$9.69
- Revenue (TTM)
- $405.6M
- 52-week range
- $234.92 – $483.60
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $366.1M | $368.2M | $365.3M | $362.1M | $395.3M |
| Gross profit | $142.8M | $152.8M | $116.4M | $138.6M | $108.6M |
| Operating income | $66.8M | $82.2M | $39.4M | $23.1M | $18.1M |
| Net income | $35.5M | -$32.0M | $54.9M | -$3.8M | -$37.5M |
| EPS (diluted) | $22.37 | -$21.49 | $38.55 | -$2.69 | -$12.08 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $90.4M | $91.1M | $95.0M | $100.6M | $99.7M | $99.9M | $97.5M | $108.5M |
| Net income | $32.1M | -$10.3M | -$33.3M | $50.9M | -$5.3M | -$49.9M | -$14.5M | $39.9M |
| EPS (diluted) | $22.95 | -$7.34 | -$14.62 | $16.41 | -$1.71 | -$16.07 | -$4.63 | $12.72 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $228.8M | $127.8M | $73.0M | $49.7M | $107.0M |
| Capital expenditure | -$64.5M | -$29.7M | -$23.4M | -$30.6M | -$30.4M |
| Free cash flow | $164.2M | $98.1M | $49.6M | $19.1M | $76.6M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $0 | $0 | $0 | $0 | $0 |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $68.4M
- Total assets
- $1.06B
- Total liabilities
- $514.8M
- Total debt
- $289.3M
- Net debt
- $220.9M
- Shareholders’ equity
- $543.8M
As of Jun 30, 2026 (filed Aug 7, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Nov 28, 1990 | $4.25 | Nov 27, 1991 |
| Sep 17, 1990 | $0.05 | Oct 1, 1990 |
| Jun 4, 1990 | $0.05 | Jul 2, 1990 |
| Feb 26, 1990 | $0.05 | Apr 2, 1990 |
| Dec 8, 1989 | $0.04 | Jan 2, 1990 |
| Aug 28, 1989 | $0.04 | Oct 1, 1989 |
| May 26, 1989 | $0.04 | Jul 1, 1989 |
| Feb 27, 1989 | $0.04 | Apr 1, 1989 |
Short interest
- Shares sold short
- 158,600
- Days to cover
- 1.00
- Change vs previous report
- +8.6%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- May 1, 2018
- 3-for-2
- Aug 15, 2014
- 1,077-for-1,000
- Aug 23, 2013
- 1,077-for-1,000
- Dec 21, 2009
- 1-for-20
- Dec 27, 1999
- 11-for-10