Biglari Holdings Inc.

Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States. It owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. As of December 31, 2021, it operated 199 Steak n Shake company-operated restaurants, 159 franchise partner units, and 178 traditional franchise units, as well as 3 Western Sizzlin company-operated restaurants and 38 franchised units. The company also engages in underwriting commercial trucking insurance; selling physical damage and non-trucking liability insurance to truckers; and providing property and casualty insurance. In addition, it operates oil and natural gas properties in the Gulf of Mexico; and publishes and sells magazines and related publishing products under the MAXIM brand name. Further, it licenses media products and services; and engages in the investment activities. The company was formerly known as The Steak n Shake Company and changed its name to Biglari Holdings Inc. in April 2010. Biglari Holdings Inc. was founded in 1934 and is based in San Antonio, Texas.

Biglari Holdings Inc. trades as BH on NYSE. The company is classified in Consumer Cyclical / Restaurants and reports in USD.

The current profile places the business in Restaurants. This section is intended to summarize the operating segments, products, geographies, and main revenue lines from official filings.

Latest available fiscal data shows $395.26M of revenue and -$37.49M of net income.

Use this area for management strategy, capital allocation priorities, target markets, and measurable goals from the latest annual report or investor presentation.

The app now provides the structure, but exact strategic claims should come from official company documents before being treated as a finished investment thesis.

Biglari Holdings Inc. can be compared against peers such as American Woodmark Corporation, Arcos Dorados Holdings Inc., Cracker Barrel Old Country Store, Inc., Cannae Holdings, Inc., Carter's, Inc., First Watch Restaurant Group, Inc..

A complete thesis should compare growth, margins, balance-sheet risk, valuation multiples, and market position against direct competitors.

Current signals to investigate include market capitalization of $921.43M, beta of 0.60, and return on equity of -7.2%.

This section should be validated with evidence such as durable margins, brand strength, regulation, switching costs, cost advantage, distribution, or technology.

Key risks should include financial leverage, cyclicality, customer concentration, regulatory exposure, currency risk, and execution risk.

BH currently shows total debt of $358.64M and beta of 0.60. Missing data should be treated as a research gap, not as low risk.

Production-capacity detail is not available as structured data yet. For industrial, defense, semiconductor, or real-estate companies, this should be reviewed from annual reports and investor presentations.

No structured backlog field is available yet. If the company reports backlog, review the relevant filing section before adding it to the thesis.

Use this section for major contracts, product launches, construction projects, acquisitions, or strategic programs that can materially affect valuation.

Recent filings to review: 4 (2026-06-05 00:00:00), 4 (2026-05-14 00:00:00), 8-K (2026-05-08 00:00:00), 10-Q (2026-05-08 00:00:00).

Customer concentration is not available as structured data here. Add it from official filings when a company discloses material customers or revenue concentration.

Supplier concentration and critical supply-chain dependencies are not available as structured data here. This should be researched from annual reports and risk disclosures.

Company website: https://www.biglariholdings.com

For US-listed stocks, verify the thesis against official filings, earnings call transcripts, and company investor relations materials.