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BIGLARI HOLDINGS INC-A (BH.A) Stock Fundamental Analysis

NYSE:BH.A - New York Stock Exchange, Inc. - US08986R4083 - Common Stock - Currency: USD

1203.01  -34.04 (-2.75%)

Fundamental Rating

3

BH.A gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 134 industry peers in the Hotels, Restaurants & Leisure industry. While BH.A seems to be doing ok healthwise, there are quite some concerns on its profitability. BH.A is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year BH.A has reported negative net income.
In the past year BH.A had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BH.A reported negative net income in multiple years.
BH.A had a positive operating cash flow in each of the past 5 years.
BH.A Yearly Net Income VS EBIT VS OCF VS FCFBH.A Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

1.2 Ratios

With a Return On Assets value of -7.12%, BH.A is not doing good in the industry: 80.60% of the companies in the same industry are doing better.
BH.A has a Return On Equity of -10.93%. This is comparable to the rest of the industry: BH.A outperforms 44.03% of its industry peers.
With a Return On Invested Capital value of 2.31%, BH.A is not doing good in the industry: 70.15% of the companies in the same industry are doing better.
BH.A had an Average Return On Invested Capital over the past 3 years of 4.28%. This is significantly below the industry average of 13.88%.
Industry RankSector Rank
ROA -7.12%
ROE -10.93%
ROIC 2.31%
ROA(3y)0.72%
ROA(5y)0.48%
ROE(3y)0.87%
ROE(5y)0.39%
ROIC(3y)4.28%
ROIC(5y)4.07%
BH.A Yearly ROA, ROE, ROICBH.A Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15

1.3 Margins

BH.A has a Operating Margin of 5.23%. This is in the lower half of the industry: BH.A underperforms 64.18% of its industry peers.
BH.A's Operating Margin has improved in the last couple of years.
BH.A's Gross Margin of 37.44% is on the low side compared to the rest of the industry. BH.A is outperformed by 68.66% of its industry peers.
In the last couple of years the Gross Margin of BH.A has grown nicely.
Industry RankSector Rank
OM 5.23%
PM (TTM) N/A
GM 37.44%
OM growth 3Y-14.11%
OM growth 5Y50.51%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.62%
GM growth 5Y13.62%
BH.A Yearly Profit, Operating, Gross MarginsBH.A Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BH.A is destroying value.
BH.A has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, BH.A has less shares outstanding
Compared to 1 year ago, BH.A has a worse debt to assets ratio.
BH.A Yearly Shares OutstandingBH.A Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500K 1M 1.5M 2M
BH.A Yearly Total Debt VS Total AssetsBH.A Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

BH.A has an Altman-Z score of 7.25. This indicates that BH.A is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 7.25, BH.A belongs to the top of the industry, outperforming 92.54% of the companies in the same industry.
The Debt to FCF ratio of BH.A is 8.80, which is on the high side as it means it would take BH.A, 8.80 years of fcf income to pay off all of its debts.
BH.A has a Debt to FCF ratio of 8.80. This is in the better half of the industry: BH.A outperforms 64.93% of its industry peers.
BH.A has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of BH.A (0.21) is better than 78.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 8.8
Altman-Z 7.25
ROIC/WACC0.26
WACC8.9%
BH.A Yearly LT Debt VS Equity VS FCFBH.A Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

A Current Ratio of 1.15 indicates that BH.A should not have too much problems paying its short term obligations.
BH.A has a Current ratio (1.15) which is in line with its industry peers.
BH.A has a Quick Ratio of 1.12. This is a normal value and indicates that BH.A is financially healthy and should not expect problems in meeting its short term obligations.
BH.A's Quick ratio of 1.12 is fine compared to the rest of the industry. BH.A outperforms 62.69% of its industry peers.
Industry RankSector Rank
Current Ratio 1.15
Quick Ratio 1.12
BH.A Yearly Current Assets VS Current LiabilitesBH.A Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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0

3. Growth

3.1 Past

The earnings per share for BH.A have decreased strongly by -610.92% in the last year.
The Revenue has been growing slightly by 0.85% in the past year.
Measured over the past years, BH.A shows a very negative growth in Revenue. The Revenue has been decreasing by -11.55% on average per year.
EPS 1Y (TTM)-610.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-254.3%
Revenue 1Y (TTM)0.85%
Revenue growth 3Y-0.36%
Revenue growth 5Y-11.55%
Sales Q2Q%6.25%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
BH.A Yearly Revenue VS EstimatesBH.A Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
BH.A Yearly EPS VS EstimatesBH.A Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 -2 -4 -6 -8

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0

4. Valuation

4.1 Price/Earnings Ratio

BH.A reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BH.A Price Earnings VS Forward Price EarningsBH.A Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0 0 0 0 0 0 0

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BH.A indicates a slightly more expensive valuation: BH.A is more expensive than 77.61% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, BH.A is valued a bit more expensive than 63.43% of the companies in the same industry.
Industry RankSector Rank
P/FCF 206.23
EV/EBITDA 47.69
BH.A Per share dataBH.A EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 -100 200

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

BH.A does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BIGLARI HOLDINGS INC-A

NYSE:BH.A (5/30/2025, 8:04:00 PM)

1203.01

-34.04 (-2.75%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)05-09 2025-05-09/amc
Earnings (Next)08-07 2025-08-07
Inst Owners88.33%
Inst Owner Change0.19%
Ins Owners0.41%
Ins Owner ChangeN/A
Market Cap2.74B
Analysts43.33
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 7.46
P/FCF 206.23
P/OCF 58.36
P/B 5.08
P/tB 5.91
EV/EBITDA 47.69
EPS(TTM)-109.01
EYN/A
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)5.83
FCFY0.48%
OCF(TTM)20.61
OCFY1.71%
SpS161.26
BVpS236.84
TBVpS203.51
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.12%
ROE -10.93%
ROCE 2.83%
ROIC 2.31%
ROICexc 2.31%
ROICexgc 2.58%
OM 5.23%
PM (TTM) N/A
GM 37.44%
FCFM 3.62%
ROA(3y)0.72%
ROA(5y)0.48%
ROE(3y)0.87%
ROE(5y)0.39%
ROIC(3y)4.28%
ROIC(5y)4.07%
ROICexc(3y)5.1%
ROICexc(5y)4.86%
ROICexgc(3y)5.84%
ROICexgc(5y)5.56%
ROCE(3y)5.04%
ROCE(5y)4.78%
ROICexcg growth 3Y-14.24%
ROICexcg growth 5Y44.43%
ROICexc growth 3Y-14.17%
ROICexc growth 5Y42.99%
OM growth 3Y-14.11%
OM growth 5Y50.51%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.62%
GM growth 5Y13.62%
F-Score3
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 8.8
Debt/EBITDA 1.87
Cap/Depr 84.25%
Cap/Sales 9.17%
Interest Coverage 250
Cash Conversion 79.35%
Profit Quality N/A
Current Ratio 1.15
Quick Ratio 1.12
Altman-Z 7.25
F-Score3
WACC8.9%
ROIC/WACC0.26
Cap/Depr(3y)72.69%
Cap/Depr(5y)99.33%
Cap/Sales(3y)7.64%
Cap/Sales(5y)9.06%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-610.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-254.3%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.85%
Revenue growth 3Y-0.36%
Revenue growth 5Y-11.55%
Sales Q2Q%6.25%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-44.72%
EBIT growth 3Y-14.42%
EBIT growth 5Y33.13%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-86.74%
FCF growth 3Y-51.28%
FCF growth 5Y-24.21%
OCF growth 1Y-62.88%
OCF growth 3Y-39.77%
OCF growth 5Y-11.8%