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 133 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 is valued expensive and it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

BH.A had negative earnings in the past year.

BH.A had a positive operating cash flow in the past year.

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

In the past 5 years BH.A always reported a positive cash flow from operatings.

1.2 Ratios

BH.A has a Return On Assets of -7.12%. This is amonst the worse of the industry: BH.A underperforms 81.20% of its industry peers.

With a Return On Equity value of -10.93%, BH.A perfoms like the industry average, outperforming 44.36% of the companies in the same industry.

The Return On Invested Capital of BH.A (2.31%) is worse than 69.92% 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 13.81%.

		Industry Rank	Sector 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%

1.3 Margins

BH.A has a Operating Margin of 5.23%. This is in the lower half of the industry: BH.A underperforms 63.91% of its industry peers.

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

With a Gross Margin value of 37.44%, BH.A is not doing good in the industry: 67.67% of the companies in the same industry are doing better.

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

		Industry Rank	Sector 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%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

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

BH.A has about the same amout of shares outstanding than it did 1 year ago.

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

BH.A has a worse debt/assets ratio than last year.

2.2 Solvency

An Altman-Z score of 8.40 indicates that BH.A is not in any danger for bankruptcy at the moment.

BH.A has a better Altman-Z score (8.40) than 93.23% of its industry peers.

BH.A has a debt to FCF ratio of 8.80. This is a slightly negative value and a sign of low solvency as BH.A would need 8.80 years to pay back of all of its debts.

With a decent Debt to FCF ratio value of 8.80, BH.A is doing good in the industry, outperforming 65.41% of the companies in the same industry.

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

BH.A has a Debt to Equity ratio of 0.21. This is in the better half of the industry: BH.A outperforms 77.44% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.21
Debt/FCF	8.8
Altman-Z	8.4

ROIC/WACC0.25

WACC9.12%

2.3 Liquidity

BH.A has a Current Ratio of 1.15. This is a normal value and indicates that BH.A is financially healthy and should not expect problems in meeting its short term obligations.

The Current ratio of BH.A (1.15) is better than 60.15% of its industry peers.

A Quick Ratio of 1.12 indicates that BH.A should not have too much problems paying its short term obligations.

BH.A's Quick ratio of 1.12 is fine compared to the rest of the industry. BH.A outperforms 63.16% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.15
Quick Ratio	1.12

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The earnings per share for BH.A have decreased strongly by -610.92% in the last year.

Looking at the last year, BH.A shows a small growth in Revenue. The Revenue has grown by 0.85% in the last year.

BH.A shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -11.55% yearly.

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.

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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

Based on the Enterprise Value to EBITDA ratio, BH.A is valued a bit more expensive than the industry average as 78.95% of the companies are valued more cheaply.

Based on the Price/Free Cash Flow ratio, BH.A is valued a bit more expensive than 61.65% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	244.8
EV/EBITDA	57.02

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 (7/11/2025, 8:04:00 PM)

After market: 1428 0 (0%)

1428

-17.36 (-1.2%)

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 Owners88.5%

Inst Owner Change0%

Ins Owners0.4%

Ins Owner ChangeN/A

Market Cap3.26B

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	8.86
P/FCF	244.8
P/OCF	69.27
P/B	6.03
P/tB	7.02
EV/EBITDA	57.02

EPS(TTM)-109.01

EYN/A

EPS(NY)N/A

Fwd EYN/A

FCF(TTM)5.83

FCFY0.41%

OCF(TTM)20.61

OCFY1.44%

SpS161.26

BVpS236.84

TBVpS203.51

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector 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 Rank	Sector 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	8.4

F-Score3

WACC9.12%

ROIC/WACC0.25

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%

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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