373.55
+15.85%
Close of 9 Nov 2026, in USD
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About Biglari Holdings
From its filings with the US Securities and Exchange Commission
Biglari Holdings is based in San Antonio, Texas and is incorporated in Indiana. Its shares trade on NYSE under the ticker BH. The SEC classifies its business as retail-eating places. In the fiscal year to 31 December 2025, it reported revenue of $395.3m and a net loss of $37.5m. At that date it held total assets of $1.03bn and shareholders' equity of $523.4m.
Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance and reinsurance, licensing and media, restaurants, and oil and gas. The Company’s largest operating subsidiaries are involved in the franchising and operating of restaurants. Biglari Holdings is founded and led by Sardar Biglari, Chairman and Chief Executive Officer of the Company.
Biglari Holdings’ management system combines decentralized operations with centralized financial decision-making. Operating decisions for the various business units are made by their respective managers. All major investment and capital allocation decisions are made for the Company and its subsidiaries by Mr. Biglari.
The Company’s restaurant operations are conducted through two subsidiaries: Steak n Shake Inc. (“Steak n Shake”) and Western Sizzlin Corporation (“Western Sizzlin”) for a combined 435 units. As of December 31, 2025, Steak n Shake had 131 company-operated restaurants, 179 franchise partner units, and 94 traditional franchise units. Western Sizzlin had 3 company-operated restaurants and 28 franchise units.
Quoted from its 10-K, filed 2 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Consumer Discretionary
- Industry
- Hotels, Restaurants & Leisure
- Listed since
- 1 May 2018
- Employees
- 2,359
- Website
- biglariholdings.com ↗
Leadership
Pay as last reported
- Mr. Sardar BiglariChairman of the Board, Chief Executive Officer, since 2008$1.4m
- Dr. Philip CooleyVice Chairman of the Board, since 2008$270,000
- Mr. Bruce LewisController$1.1m
- Mr. John CardwellIndependent Director$90,000
- Mr. Kenneth CooperIndependent Director$100,000
- Dr. Ruth PersonIndependent Director$90,000
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 7
- Environment
- 4
- Social
- 14
- Governance
- 3
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Diversified business portfolio allowing for strategic moves and risk management.
- Strong brand reputation with a focus on providing value to customers and investors.
- Experienced management team with a track record of successful acquisitions and growth.
Weaknesses
- Reliance on specific industries such as restaurants and hotels, which may be susceptible to economic downturns.
- Limited global presence compared to some competitors, reducing opportunities for international growth.
- High debt levels, potentially impeding future investment and expansion.
Opportunities
- Acquisition opportunities in a fragmented industry, allowing for market consolidation and increased market share.
- Expansion into new markets or product lines through strategic partnerships or innovative offerings.
- Growing consumer demand for sustainable and ethically sourced products, providing an opportunity for differentiation.
Threats
- Intense competition in the industry, leading to potential price wars and reduced profit margins.
- Changing consumer preferences and trends, requiring constant innovation to stay relevant.
- Economic downturns or market volatility impacting consumer spending, potentially affecting revenue.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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