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BIGLARI HOLDINGS INC-B (BH) Stock Fundamental Analysis

NYSE:BH - New York Stock Exchange, Inc. - US08986R3093 - Common Stock - Currency: USD

300.56  +3.41 (+1.15%)

After market: 299.8 -0.76 (-0.25%)

Fundamental Rating

2

Overall BH gets a fundamental rating of 2 out of 10. We evaluated BH against 132 industry peers in the Hotels, Restaurants & Leisure industry. The financial health of BH is average, but there are quite some concerns on its profitability. BH 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 has reported negative net income.
In the past year BH had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BH reported negative net income in multiple years.
Each year in the past 5 years BH had a positive operating cash flow.
BH Yearly Net Income VS EBIT VS OCF VS FCFBH 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

BH's Return On Assets of -7.12% is on the low side compared to the rest of the industry. BH is outperformed by 80.30% of its industry peers.
The Return On Equity of BH (-10.93%) is comparable to the rest of the industry.
BH has a worse Return On Invested Capital (2.31%) than 68.18% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BH is significantly below the industry average of 13.91%.
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 Yearly ROA, ROE, ROICBH 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 has a worse Operating Margin (5.23%) than 62.12% of its industry peers.
In the last couple of years the Operating Margin of BH has grown nicely.
Looking at the Gross Margin, with a value of 37.44%, BH is doing worse than 67.42% of the companies in the same industry.
BH's Gross Margin has improved in the last couple of years.
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 Yearly Profit, Operating, Gross MarginsBH 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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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BH is destroying value.
Compared to 1 year ago, BH has about the same amount of shares outstanding.
Compared to 5 years ago, BH has less shares outstanding
Compared to 1 year ago, BH has a worse debt to assets ratio.
BH Yearly Shares OutstandingBH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500K 1M 1.5M 2M
BH Yearly Total Debt VS Total AssetsBH 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

An Altman-Z score of 2.98 indicates that BH is not a great score, but indicates only limited risk for bankruptcy at the moment.
BH has a Altman-Z score of 2.98. This is in the better half of the industry: BH outperforms 73.48% of its industry peers.
The Debt to FCF ratio of BH is 8.80, which is on the high side as it means it would take BH, 8.80 years of fcf income to pay off all of its debts.
BH has a Debt to FCF ratio of 8.80. This is in the better half of the industry: BH outperforms 66.67% of its industry peers.
BH has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.21, BH is in the better half of the industry, outperforming 77.27% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 8.8
Altman-Z 2.98
ROIC/WACC0.25
WACC9.2%
BH Yearly LT Debt VS Equity VS FCFBH 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 should not have too much problems paying its short term obligations.
The Current ratio of BH (1.15) is better than 61.36% of its industry peers.
BH has a Quick Ratio of 1.12. This is a normal value and indicates that BH is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of BH (1.12) is better than 64.39% of its industry peers.
Industry RankSector Rank
Current Ratio 1.15
Quick Ratio 1.12
BH Yearly Current Assets VS Current LiabilitesBH 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

BH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -610.92%.
Looking at the last year, BH shows a small growth in Revenue. The Revenue has grown by 0.85% in the last year.
BH 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.
BH Yearly Revenue VS EstimatesBH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
BH Yearly EPS VS EstimatesBH Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 -2 -4 -6 -8

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BH. In the last year negative earnings were reported.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BH Price Earnings VS Forward Price EarningsBH 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

The rest of the industry has a similar Enterprise Value to EBITDA ratio as BH.
The rest of the industry has a similar Price/Free Cash Flow ratio as BH.
Industry RankSector Rank
P/FCF 51.52
EV/EBITDA 12.96
BH Per share dataBH 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 does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BIGLARI HOLDINGS INC-B

NYSE:BH (7/17/2025, 8:05:11 PM)

After market: 299.8 -0.76 (-0.25%)

300.56

+3.41 (+1.15%)

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 Change0%
Market Cap685.28M
Analysts43.33
Price TargetN/A
Short Float %19.28%
Short Ratio1.55
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 1.86
P/FCF 51.52
P/OCF 14.58
P/B 1.27
P/tB 1.48
EV/EBITDA 12.96
EPS(TTM)-109.01
EYN/A
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)5.83
FCFY1.94%
OCF(TTM)20.61
OCFY6.86%
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 2.98
F-Score3
WACC9.2%
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%