BHBiglari Holdings Inc.
Next earnings Aug 6, 2026
Last earnings +2.0% on 2026-05-08
$373.05
▼ -5.49%$373.05▲ +29.70%
over 1Y
L $247.83H $476.92
Our buy Our hold Our sell Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today
-5.5%
1W
-12.1%
1M
+19.6%
3M
+14.5%
YTD
+8.6%
1Y
+29.7%
Sell
Conviction
Horizon
Medium (3–12mo)
Street · 6 analysts
Sell
Revenue grew 9.2% YoY; but unprofitable (net margin -9.5%).
Revenue (FY2025) $395M · FY2025
This call stands until the filings change it — the engine re-rates on new 10-K/10-Q/8-K facts, never on price moves. Hit Watch above to follow BH (Pro alerts fire the moment a rating flips), or catch every change in Saturday’s Flip Side. How to read a call
Biglari Holdings Inc. shows $395M in FY2025 revenue (+9.2% YoY), a -9.5% net margin, and -7.2% ROE.
Supporting the case: revenue grew 9.2% YoY; conservative balance sheet (liabilities/equity 0.96x).
Is BH a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread~60d expiry
- Long put 375 @ ~30.35 est
- Short put 335 @ ~13.18 est
debit $1,717max +$2,283max −$1,717BE 357.83
SELL verdict, defined risk: profits into weakness down to the short strike; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financialsannual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $366M | $368M | $365M | $362M | $395M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $35.5M | -$32.0M | $54.9M | -$3.76M | -$37.5M |
| Diluted EPS | $111.83 | -$107.43 | $189.49 | -$13.45 | -$143.86 |
| Net margin | 9.7% | -8.7% | 15.0% | -1.0% | -9.5% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$1.22B
EV / EBITDA—
EV / Sales3.1
EV / FCF15.9
P / FCF16.2
PEG (trailing)—
Earnings yield-3.0%
FCF yield6.2%
Quality & risk
ROIC (est.)—
Free cash flow$76.6M
Total debt$247M
Net cash$21.8M
Piotroski F-Score3/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timelineSEC · 8-Ks + reports
Red flag in recent filings — restated periodic report (2026-03-31). Worth a closer look.
- 8-K Earnings results2026-05-08
- 10-Q Quarterly report2026-05-08
- 8-K Shareholder vote2026-04-10
- 10-K/A Restated periodic report2026-03-31
- DEF 14A Proxy statement2026-03-11
- 8-K Earnings results2026-03-02
- 10-K Annual report2026-03-02
- S-3 Shelf registration (potential raise)2026-01-16
- 8-K Reg FD disclosure2025-11-21
Recent filings
all on EDGAR ↗4Period ending 2026-07-012026-07-06open ↗4Period ending 2026-06-262026-06-30open ↗4Period ending 2026-06-042026-06-05open ↗4Period ending 2026-05-122026-05-14open ↗8-KPeriod ending 2026-05-082026-05-08open ↗10-QPeriod ending 2026-03-312026-05-08open ↗8-KPeriod ending 2026-04-082026-04-10open ↗10-K/APeriod ending 2025-12-312026-03-31open ↗4Period ending 2026-03-132026-03-13open ↗ARSPeriod ending 2025-12-312026-03-11open ↗DEF 14APeriod ending 2026-04-082026-03-11open ↗4Period ending 2026-03-092026-03-09open ↗
Frequently asked
- Is Biglari Holdings Inc. (BH) a buy?
- BH currently carries a Sell rating with 2/5 conviction, derived from its latest SEC filings. Revenue grew 9.2% YoY; but unprofitable (net margin -9.5%).
- What is Biglari Holdings Inc.'s quality score?
- BH scores 48.758162649058/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001726173, latest 10-Q filed 2026-05-08) · EODHD · as of 7/11/2026, 9:11:03 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
Rule-based analysis, generated automatically from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 11, 2026, 5:11 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.