BH.A Fundamental Analysis - BIGLARI HOLDINGS INC-A

Fundamental Rating

Taking everything into account, BH.A scores 3 out of 10 in our fundamental rating. BH.A was compared to 131 industry peers in the Hotels, Restaurants & Leisure industry. The financial health of BH.A is average, but there are quite some concerns on its profitability. BH.A has a expensive valuation and it also scores bad on growth.

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1. Profitability

1.1 Basic Checks

BH.A had negative earnings in the past year.

In the past year BH.A had a positive cash flow from operations.

In multiple years BH.A reported negative net income over the last 5 years.

BH.A had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

Looking at the Return On Assets, with a value of -7.17%, BH.A is doing worse than 80.15% of the companies in the same industry.

BH.A's Return On Equity of -11.01% is in line compared to the rest of the industry. BH.A outperforms 43.51% of its industry peers.

The Return On Invested Capital of BH.A (2.33%) is worse than 70.23% of its industry peers.

Measured over the past 3 years, the Average Return On Invested Capital for BH.A is significantly below the industry average of 15.87%.

		Industry Rank	Sector Rank
ROA	-7.17%
ROE	-11.01%
ROIC	2.33%

ROA(3y)0.71%

ROA(5y)0.47%

ROE(3y)0.87%

ROE(5y)0.38%

ROIC(3y)4.28%

ROIC(5y)4.07%

1.3 Margins

Looking at the Operating Margin, with a value of 5.29%, BH.A is doing worse than 64.12% of the companies in the same industry.

In the last couple of years the Operating Margin of BH.A has grown nicely.

Looking at the Gross Margin, with a value of 37.58%, BH.A is doing worse than 67.18% of the companies in the same industry.

BH.A's Gross Margin has improved in the last couple of years.

		Industry Rank	Sector Rank
OM	5.29%
PM (TTM)	N/A
GM	37.58%

OM growth 3Y-13.98%

OM growth 5Y50.65%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-0.62%

GM growth 5Y13.62%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BH.A is destroying value.

The number of shares outstanding for BH.A remains at a similar level compared to 1 year ago.

The number of shares outstanding for BH.A has been reduced compared to 5 years ago.

The debt/assets ratio for BH.A is higher compared to a year ago.

2.2 Solvency

An Altman-Z score of 8.94 indicates that BH.A is not in any danger for bankruptcy at the moment.

BH.A has a Altman-Z score of 8.94. This is amongst the best in the industry. BH.A outperforms 92.37% of its industry peers.

BH.A has a debt to FCF ratio of 8.90. This is a slightly negative value and a sign of low solvency as BH.A would need 8.90 years to pay back of all of its debts.

BH.A has a Debt to FCF ratio of 8.90. This is in the better half of the industry: BH.A outperforms 64.89% of its industry peers.

A Debt/Equity ratio of 0.21 indicates that BH.A is not too dependend on debt financing.

BH.A has a better Debt to Equity ratio (0.21) than 76.34% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.21
Debt/FCF	8.9
Altman-Z	8.94

ROIC/WACC0.26

WACC9.07%

2.3 Liquidity

A Current Ratio of 1.14 indicates that BH.A should not have too much problems paying its short term obligations.

The Current ratio of BH.A (1.14) is better than 60.31% of its industry peers.

A Quick Ratio of 1.11 indicates that BH.A should not have too much problems paying its short term obligations.

Looking at the Quick ratio, with a value of 1.11, BH.A is in the better half of the industry, outperforming 61.83% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	1.14
Quick Ratio	1.11

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

BH.A shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -616.97%.

The Revenue has been growing slightly by 0.86% in the past year.

The Revenue for BH.A have been decreasing by -11.55% on average. This is quite bad

EPS 1Y (TTM)-616.97%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-256.63%

Revenue 1Y (TTM)0.86%

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.

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4. Valuation

4.1 Price/Earnings Ratio

BH.A reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

BH.A's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. BH.A is more expensive than 79.39% of the companies in the same industry.

Based on the Price/Free Cash Flow ratio, BH.A is valued a bit more expensive than 61.07% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	270.45
EV/EBITDA	57.57

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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5. Dividend

5.1 Amount

BH.A does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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BIGLARI HOLDINGS INC-A

NYSE:BH.A (8/26/2025, 8:16:45 PM)

1561.14

+26.23 (+1.71%)

Chartmill FA Rating

GICS SectorConsumer Discretionary

GICS IndustryGroupConsumer Services

GICS IndustryHotels, Restaurants & Leisure

Earnings (Last)08-07 2025-08-07

Earnings (Next)11-06 2025-11-06

Inst Owners88.5%

Inst Owner Change0.12%

Ins Owners0.4%

Ins Owner ChangeN/A

Market Cap3.56B

Analysts43.33

Price TargetN/A

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector 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 Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	9.68
P/FCF	270.45
P/OCF	76.62
P/B	6.59
P/tB	7.67
EV/EBITDA	57.57

EPS(TTM)-110.3

EYN/A

EPS(NY)N/A

Fwd EYN/A

FCF(TTM)5.77

FCFY0.37%

OCF(TTM)20.38

OCFY1.31%

SpS161.27

BVpS236.77

TBVpS203.61

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-7.17%
ROE	-11.01%
ROCE	2.86%
ROIC	2.33%
ROICexc	2.74%
ROICexgc	3.13%
OM	5.29%
PM (TTM)	N/A
GM	37.58%
FCFM	3.58%

ROA(3y)0.71%

ROA(5y)0.47%

ROE(3y)0.87%

ROE(5y)0.38%

ROIC(3y)4.28%

ROIC(5y)4.07%

ROICexc(3y)5.11%

ROICexc(5y)4.86%

ROICexgc(3y)5.84%

ROICexgc(5y)5.56%

ROCE(3y)5.05%

ROCE(5y)4.78%

ROICexcg growth 3Y-14.08%

ROICexcg growth 5Y44.59%

ROICexc growth 3Y-14.03%

ROICexc growth 5Y43.14%

OM growth 3Y-13.98%

OM growth 5Y50.65%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-0.62%

GM growth 5Y13.62%

F-Score3

Asset Turnover0.44

Health

		Industry Rank	Sector Rank
Debt/Equity	0.21
Debt/FCF	8.9
Debt/EBITDA	1.87
Cap/Depr	83.03%
Cap/Sales	9.05%
Interest Coverage	250
Cash Conversion	78.02%
Profit Quality	N/A
Current Ratio	1.14
Quick Ratio	1.11
Altman-Z	8.94

F-Score3

WACC9.07%

ROIC/WACC0.26

Cap/Depr(3y)72.81%

Cap/Depr(5y)99.4%

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)-616.97%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-256.63%

EPS Next YN/A

EPS Next 2YN/A

EPS Next 3YN/A

EPS Next 5YN/A

Revenue 1Y (TTM)0.86%

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-44.1%

EBIT growth 3Y-14.29%

EBIT growth 5Y33.25%

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-86.88%

FCF growth 3Y-51.22%

FCF growth 5Y-24.16%

OCF growth 1Y-63.31%

OCF growth 3Y-39.9%

OCF growth 5Y-11.92%

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

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

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2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

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3. Growth

3.1 Past

3.2 Future

3.3 Evolution

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4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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