Biglari (BH) Stock Forecast & Price Target
BH$388.64+3.99 +1.04%
$1.24B
Market Cap
-40.89
P/E
—
Forward P/E
41
Score
Biglari (BH) Stock Forecast & Price Target
BH price $388.64 +3.99 +1.04%
- Ticker
- BH
- Price
- $388.64
- Change
- +3.99 +1.04%
- Market cap ?
- $1.24B
- P/E ?
- -40.89
- Dividend yield ?
- 0.00%
- Beta ?
- 0.53
- Sector
- Consumer Cyclical
- Industry
- Restaurants
- Stocklytics score
- 41
- Value
- 32
- Quality
- 46
- Growth
- 45
Stocklytics score rationale: value 32, quality 46, growth 45.
Financials
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| 850076000 | 839804000 | 809894000 | 668838000 | 433683000 | 366106000 | 368231000 | 365318000 | 362114000 | 395261000 |
Biglari Holdings Inc., an enterprise established in 1934 and based in San Antonio, Texas, is a multifaceted company with its primary operations centered on managing and franchising restaurants throughout the United States. Its well-known dining brands include Steak n Shake and Western Sizzlin. By December 31, 2021, the company's restaurant network comprised 199 company-operated Steak n Shake locations, complemented…
Fair value
BH fair value $506.84. Price $388.64. Price is 23% below fair value.
Below fair value, but more expensive than usual. A smaller discount than on 75% of days in the past 5 years.
Fair value is an estimate of what one share is worth if future cash flows arrive as modeled. It is not a forecast of the share price. How discounted cash flow works.
Calculated with a 10-year free-cash-flow discount. Starting free cash flow 49.94M. Growth 20.00%. When analyst earnings forecasts are available, free cash flow in those years is forecast earnings times the company's usual conversion of earnings into free cash flow, kept between 60% and 130%. Years with fewer than 3 analyst estimates are left out. Growth then fades in a straight line to terminal growth by year 10, starting from the last well-covered year's growth, or from the pace across those years when the final year slows sharply, kept between 0% and 20%. Without those forecasts, year-1 growth is analyst revenue growth for the next full fiscal year, or 5-year historical revenue growth when that forecast is missing, held for five years, then fading in a straight line to terminal growth by year 10. Terminal growth 3.00%. Discount rate 8.70% (beta 0.8). Beta is kept between 0.8 and 2.0, which on its own would make the discount rate 8.7% to 15.3%. The rate is then capped at 12%. A cap is used because a discount above 12% pushes higher-beta stocks further from the price. The discount rate stays at least 5 percentage points above terminal growth. Shares 3.18M. Net debt 89.86M. The earnings value is next-12-months earnings per share, or trailing earnings when that forecast is missing, times the median P/E of the company's industry. That median uses listed stocks worth at least $10 billion with a positive P/E of 100 or below, and the industry needs at least eight of them. Otherwise the sector median is used when that group also has at least eight, then the market median of those large companies. The multiple used is the lower of that median and 1.25 times the stock's own 10-year median P/E, then kept between 8 and 30. If the stock has no 10-year median, the peer median is kept between 8 and 30. Fair value is the average of the cash-flow value and the earnings value when both exist. Card and credit companies use the earnings value only, because changes in customer receivables distort free cash flow. Model uncertainty is high when fair value is more than 60% from the price, or when most of the cash-flow value sits after year 10.
Earnings
| Date | EPS actual | EPS estimate | Revenue | Revenue estimate |
|---|---|---|---|---|
| 2026-11-06 | — | — | — | — |
| 2026-08-07 | 158.17 | — | 108.52M | — |
| 2026-05-08 | -0.56 | — | 97.48M | — |
| 2026-02-28 | -2.38 | — | 99.87M | — |
| 2025-11-07 | 23.46 | -4.15 | 99.74M | 206.30M |
| 2025-08-08 | 9.17 | -3.65 | 100.62M | 211.41M |
| 2025-05-09 | 23.37 | -1.77 | 95.03M | 206.54M |
| 2025-03-01 | -36.60 | -2.74 | 91.11M | 205.58M |
| 2024-11-08 | 1.15 | — | 90.41M | — |
| 2024-08-09 | -12.87 | — | 91.14M | — |
| 2024-05-10 | 0.80 | — | 89.45M | — |
| 2024-02-24 | 1.54 | — | 90.67M | — |
| 2023-11-03 | -1.96 | — | 90.94M | — |
| 2023-08-04 | 6.64 | — | 93.54M | — |
| 2023-05-05 | 2.22 | — | 90.18M | — |
| 2023-02-25 | 32.87 | — | 98.46M | — |
| 2022-11-04 | 1.09 | — | 92.03M | — |
| 2022-08-05 | -2.44 | — | 92.37M | — |
| 2022-05-06 | -0.98 | — | 85.37M | — |
| 2022-02-28 | -13.96 | — | 98.95M | — |
| 2021-11-05 | -33.74 | — | 82.08M | — |
| 2021-08-06 | -0.64 | — | 90.79M | — |
| 2021-05-07 | 2.23 | — | 94.29M | — |
| 2021-03-01 | 1.03 | — | 99.65M | — |
| 2020-11-06 | 0.60 | — | 101.83M | — |
| 2020-08-07 | 1.22 | — | 96.50M | — |
| 2020-05-08 | -4.00 | — | 135.70M | — |
| 2020-02-24 | 39.64 | -4.15 | 158.42M | 206.30M |
| 2019-11-01 | -0.05 | -3.65 | 160.22M | 211.41M |
| 2019-08-02 | 0.64 | -0.02 | 168.34M | 206.54M |
| 2019-05-03 | 28.36 | -2.74 | 181.86M | 205.58M |
| 2019-02-25 | 1.23 | -0.05 | 195.35M | 39.34M |
| 2018-11-02 | -7.90 | -0.54 | 203.58M | 13.92M |
| 2018-08-03 | -21.73 | — | 208.74M | — |
| 2018-05-04 | -5.15 | — | 202.22M | — |
| 2018-02-26 | 0.57 | — | 209.22M | — |
| 2017-11-03 | -20.09 | — | 214.23M | — |
| 2017-08-04 | 17.17 | — | 212.95M | — |
| 2017-05-05 | -12.82 | — | 203.39M | — |
| 2017-02-27 | 0.58 | — | 205.99M | — |
Dividends
Yield 0.00%. Payout ratio 0.00%. Frequency Quarterly.
Safety score 55/100 · Moderate. Payout ratio is 0% of earnings. Free-cash-flow coverage is not available, so this part stays neutral. Dividends were paid in 6 separate years. There is no dividend yield.
| Ex-date | Dividend | Record | Payment | Frequency |
|---|---|---|---|---|
| 1990-11-28 | $30.71 | 1990-10-26 | 1991-11-27 | Quarterly |
| 1990-09-17 | $0.36 | 1990-09-21 | 1990-10-01 | Quarterly |
| 1990-06-04 | $0.36 | 1990-06-08 | 1990-07-02 | Quarterly |
| 1990-02-26 | $0.36 | 1990-03-02 | 1990-04-02 | Quarterly |
| 1989-12-08 | $0.29 | 1989-12-14 | 1990-01-02 | Quarterly |
| 1989-08-28 | $0.29 | 1989-09-01 | 1989-10-01 | Quarterly |
| 1989-05-26 | $0.29 | 1989-06-02 | 1989-07-01 | Quarterly |
| 1989-02-27 | $0.29 | 1989-03-03 | 1989-04-01 | Quarterly |
| 1988-12-15 | $0.29 | 1988-12-21 | 1989-01-04 | Quarterly |
| 1988-08-29 | $0.22 | 1988-09-02 | 1988-10-03 | Quarterly |
| 1988-06-14 | $0.22 | 1988-06-20 | 1988-07-05 | Quarterly |
| 1988-02-29 | $0.21 | — | — | Semi-Annual |
| 1987-08-27 | $0.21 | — | — | Semi-Annual |
| 1987-02-25 | $0.17 | — | — | Semi-Annual |
| 1986-08-26 | $0.02 | — | — | Semi-Annual |
| 1986-02-25 | $0.02 | — | — | Semi-Annual |
| 1985-08-27 | $0.02 | — | — | Semi-Annual |
| 1985-02-26 | $0.02 | — | — | Semi-Annual |
Insider trades
| Date | Insider | Action | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-05 | BIGLARI, SARDAR | Buy | 535 | $297.14 | 158.97K |
| 2026-06-04 | BIGLARI, SARDAR | Buy | 1.74K | $286.76 | 499.82K |
| 2026-05-14 | BIGLARI, SARDAR | Buy | 14.35K | $258.06 | 3.70M |
| 2026-05-13 | BIGLARI, SARDAR | Buy | 15.36K | $260.36 | 4.00M |
| 2026-05-12 | BIGLARI, SARDAR | Buy | 22.96K | $249.84 | 5.74M |
| 2026-03-13 | BIGLARI, SARDAR | Buy | 2.81K | $302.20 | 849.18K |
| 2026-03-09 | BIGLARI, SARDAR | Buy | 3.32K | $301.06 | 999.52K |
| 2026-03-06 | BIGLARI, SARDAR | Buy | 2.44K | $307.20 | 749.88K |
| 2026-03-03 | BIGLARI, SARDAR | Buy | 1.15K | $331.15 | 379.50K |
| 2025-12-17 | BIGLARI, SARDAR | Buy | 3.08K | $323.71 | 998.32K |
| 2025-12-17 | BIGLARI, SARDAR | Buy | 368 | $1,633.52 | 601.14K |
| 2025-12-16 | BIGLARI, SARDAR | Buy | 156 | $1,599.87 | 249.58K |
| 2025-12-15 | BIGLARI, SARDAR | Buy | 152 | $328.00 | 49.86K |
| 2025-12-15 | BIGLARI, SARDAR | Buy | 60 | $1,635.37 | 98.12K |
| 2025-12-12 | BIGLARI, SARDAR | Buy | 449 | $333.14 | 149.58K |
| 2025-12-10 | BIGLARI, SARDAR | Buy | 310 | $321.94 | 99.80K |
| 2025-12-09 | BIGLARI, SARDAR | Buy | 938 | $319.08 | 299.30K |
| 2025-12-08 | BIGLARI, SARDAR | Buy | 973 | $315.08 | 306.57K |
| 2025-12-05 | BIGLARI, SARDAR | Buy | 1.47K | $306.90 | 449.61K |
| 2025-12-04 | BIGLARI, SARDAR | Buy | 1.14K | $306.05 | 348.59K |
| 2025-12-03 | BIGLARI, SARDAR | Buy | 2.80K | $303.32 | 849.90K |
| 2025-11-24 | BIGLARI, SARDAR | Buy | 1.82K | $274.74 | 499.75K |
| 2025-11-24 | BIGLARI, SARDAR | Buy | 213 | $1,406.27 | 299.54K |
| 2024-12-17 | BIGLARI, SARDAR | Buy | 2.59K | $249.55 | 646.08K |
| 2024-12-17 | BIGLARI, SARDAR | Buy | 682 | $1,250.34 | 852.73K |
| 2024-12-16 | BIGLARI, SARDAR | Buy | 703 | $234.12 | 164.59K |
| 2024-12-16 | BIGLARI, SARDAR | Buy | 114 | $1,186.32 | 135.24K |
| 2024-12-13 | BIGLARI, SARDAR | Buy | 128 | $234.98 | 30.08K |
| 2024-12-13 | BIGLARI, SARDAR | Buy | 17 | $1,160.00 | 19.72K |
| 2024-12-12 | BIGLARI, SARDAR | Buy | 239 | $234.13 | 55.96K |
| 2024-12-12 | BIGLARI, SARDAR | Buy | 277 | $1,174.06 | 325.21K |
| 2024-12-05 | BIGLARI, SARDAR | Buy | 2.17K | $228.47 | 495.09K |
| 2024-12-04 | BIGLARI, SARDAR | Buy | 444 | $223.85 | 99.39K |
| 2024-12-03 | BIGLARI, SARDAR | Buy | 2.67K | $223.47 | 595.99K |
| 2024-12-03 | BIGLARI, SARDAR | Buy | 274 | $1,108.95 | 303.85K |
| 2024-12-02 | BIGLARI, SARDAR | Buy | 1.59K | $217.16 | 345.50K |
| 2024-12-02 | BIGLARI, SARDAR | Buy | 144 | $1,078.01 | 155.23K |
| 2024-11-27 | BIGLARI, SARDAR | Buy | 2.10K | $212.54 | 445.27K |
| 2024-11-27 | BIGLARI, SARDAR | Buy | 327 | $1,068.21 | 349.30K |
| 2024-11-26 | BIGLARI, SARDAR | Buy | 798 | $206.95 | 165.15K |
| 2024-11-26 | BIGLARI, SARDAR | Buy | 130 | $1,030.10 | 133.91K |
| 2024-11-22 | BIGLARI, SARDAR | Buy | 384 | $207.95 | 79.85K |
| 2024-11-21 | BIGLARI, SARDAR | Buy | 1.19K | $207.46 | 246.05K |
| 2024-11-20 | BIGLARI, SARDAR | Buy | 856 | $210.00 | 179.76K |
| 2024-11-20 | BIGLARI, SARDAR | Buy | 1 | $1,030.00 | 1.03K |
| 2024-11-19 | BIGLARI, SARDAR | Buy | 3.96K | $209.77 | 831.74K |
| 2024-11-19 | BIGLARI, SARDAR | Buy | 151 | $1,045.10 | 157.81K |
| 2024-11-18 | BIGLARI, SARDAR | Buy | 4.95K | $208.78 | 1.03M |
| 2024-11-18 | BIGLARI, SARDAR | Buy | 197 | $1,049.29 | 206.71K |
| 2024-11-15 | BIGLARI, SARDAR | Buy | 5.15K | $209.97 | 1.08M |
| 2024-11-15 | BIGLARI, SARDAR | Buy | 782 | $1,049.52 | 820.72K |
| 2024-11-14 | BIGLARI, SARDAR | Buy | 3.99K | $210.13 | 838.84K |
| 2024-11-14 | BIGLARI, SARDAR | Buy | 671 | $1,032.57 | 692.85K |
| 2024-11-13 | BIGLARI, SARDAR | Buy | 6.93K | $199.00 | 1.38M |
| 2024-11-13 | BIGLARI, SARDAR | Buy | 1.63K | $997.72 | 1.63M |
| 2024-11-12 | BIGLARI, SARDAR | Buy | 4.53K | $181.34 | 822.20K |
| 2024-11-12 | BIGLARI, SARDAR | Buy | 460 | $897.76 | 412.97K |
| 2024-03-15 | BIGLARI, SARDAR | Buy | 3.87K | $192.37 | 745.05K |
| 2024-03-15 | BIGLARI, SARDAR | Buy | 157 | $984.30 | 154.54K |
| 2024-03-13 | BIGLARI, SARDAR | Buy | 940 | $194.10 | 182.45K |
| 2024-03-13 | BIGLARI, SARDAR | Buy | 69 | $976.62 | 67.39K |
| 2024-03-12 | BIGLARI, SARDAR | Buy | 659 | $191.17 | 125.98K |
| 2024-03-12 | BIGLARI, SARDAR | Buy | 497 | $950.54 | 472.42K |
| 2024-03-11 | BIGLARI, SARDAR | Buy | 1.91K | $187.87 | 358.46K |
| 2024-03-11 | BIGLARI, SARDAR | Buy | 149 | $948.54 | 141.33K |
| 2024-03-08 | BIGLARI, SARDAR | Buy | 1.00K | $185.24 | 186.17K |
| 2024-03-08 | BIGLARI, SARDAR | Buy | 101 | $924.26 | 93.35K |
| 2024-03-07 | BIGLARI, SARDAR | Buy | 419 | $190.11 | 79.66K |
| 2024-03-06 | BIGLARI, SARDAR | Buy | 632 | $186.54 | 117.89K |
| 2024-03-06 | BIGLARI, SARDAR | Buy | 42 | $923.10 | 38.77K |
| 2024-03-05 | BIGLARI, SARDAR | Buy | 277 | $180.38 | 49.97K |
| 2024-03-04 | BIGLARI, SARDAR | Buy | 1.69K | $178.06 | 301.28K |
| 2024-03-04 | BIGLARI, SARDAR | Buy | 6 | $900.00 | 5.40K |
| 2023-12-15 | BIGLARI, SARDAR | Buy | 440 | $175.47 | 77.21K |
| 2023-12-15 | BIGLARI, SARDAR | Buy | 81 | $887.87 | 71.92K |
| 2023-12-14 | BIGLARI, SARDAR | Buy | 484 | $178.45 | 86.37K |
| 2023-12-14 | BIGLARI, SARDAR | Buy | 183 | $891.54 | 163.15K |
| 2023-12-13 | BIGLARI, SARDAR | Buy | 1.30K | $175.29 | 227.35K |
| 2023-12-13 | BIGLARI, SARDAR | Buy | 132 | $880.26 | 116.19K |
| 2023-12-12 | BIGLARI, SARDAR | Buy | 3.48K | $167.75 | 584.27K |
| 2023-12-12 | BIGLARI, SARDAR | Buy | 252 | $826.62 | 208.31K |
| 2023-12-11 | BIGLARI, SARDAR | Buy | 4.11K | $156.63 | 643.59K |
| 2023-12-11 | BIGLARI, SARDAR | Buy | 452 | $778.66 | 351.95K |
| 2022-06-08 | LION FUND, L.P. | Buy | 890.27K | — | — |
| 2021-12-17 | BIGLARI, SARDAR | Buy | 10.07K | $148.68 | 1.50M |
| 2021-12-14 | BIGLARI, SARDAR | Buy | 547 | $143.81 | 78.66K |
| 2021-12-13 | BIGLARI, SARDAR | Buy | 389 | $144.00 | 56.02K |
| 2021-11-24 | BIGLARI, SARDAR | Buy | 2.20K | $145.64 | 320.41K |
| 2021-11-24 | BIGLARI, SARDAR | Buy | 60 | $722.44 | 43.35K |
| 2021-11-22 | BIGLARI, SARDAR | Buy | 26.57K | $143.00 | 3.80M |
| 2021-11-22 | BIGLARI, SARDAR | Buy | 138 | $720.00 | 99.36K |
| 2021-08-12 | Cardwell John Garrett | Buy | 200 | $172.31 | 34.46K |
| 2021-08-12 | BIGLARI, SARDAR | Buy | 12.94K | $171.56 | 2.22M |
| 2021-08-12 | BIGLARI, SARDAR | Buy | 818 | $867.30 | 709.45K |
| 2021-08-11 | BIGLARI, SARDAR | Buy | 258 | $850.00 | 219.30K |
| 2021-08-10 | BIGLARI, SARDAR | Buy | 542 | $825.91 | 447.64K |
| 2021-06-18 | Cardwell John Garrett | Buy | 50 | $171.00 | 8.55K |
| 2021-06-16 | BIGLARI, SARDAR | Buy | 73 | $899.79 | 65.68K |
| 2021-06-15 | BIGLARI, SARDAR | Buy | 75 | $915.00 | 68.62K |
| 2021-06-14 | BIGLARI, SARDAR | Buy | 38 | $905.00 | 34.39K |
Institutional holders
Latest filed quarter: Q2 2026.
Institutions holding: 117, holders +1 vs prior quarter. Ownership 63.85%.
| Holder | Shares | Change | Change % | Value |
|---|---|---|---|---|
| BIGLARI CAPITAL CORP. | 1.47M | 54.95K | +3.88% | 627.22M |
| DIMENSIONAL FUND ADVISORS LP | 106.26K | 4.01K | +3.92% | 45.27M |
| TWO SIGMA INVESTMENTS, LP | 50.62K | 42.02K | +488.92% | 21.56M |
| BLACKROCK, INC. | 46.13K | 1.09K | +2.42% | 19.65M |
| MARSHALL WACE, LLP | 31.02K | -1.19K | -3.70% | 13.21M |
| RENAISSANCE TECHNOLOGIES LLC | 28.63K | 6.88K | +31.67% | 12.20M |
| VANGUARD CAPITAL MANAGEMENT LLC | 28.18K | -1.57K | -5.28% | 12.01M |
| MILLENNIUM MANAGEMENT LLC | 26.77K | 9.43K | +54.39% | 11.41M |
| GEODE CAPITAL MANAGEMENT, LLC | 14.92K | 1.09K | +7.86% | 6.36M |
| TREXQUANT INVESTMENT LP | 14.56K | -7.15K | -32.94% | 6.20M |
| STATE STREET CORP | 12.81K | -1.14K | -8.15% | 5.46M |
| CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. | 12.31K | 970 | +8.55% | 5.24M |
| AQR CAPITAL MANAGEMENT LLC | 9.49K | 3.56K | +59.93% | 4.04M |
| QUBE RESEARCH & TECHNOLOGIES LTD | 8.78K | -13.64K | -60.85% | 3.74M |
| JPMORGAN CHASE & CO | 7.85K | -4.46K | -36.22% | 3.43M |
| SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. | 7.70K | 7.70K | New | 3.28M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 7.70K | 864 | +12.63% | 3.28M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 7.34K | -254 | -3.34% | 3.13M |
| NORTHERN TRUST CORP | 7.16K | 228 | +3.29% | 3.05M |
| HRT FINANCIAL LP | 6.48K | 6.48K | New | 2.76M |
| JANE STREET GROUP, LLC | 6.13K | -11.28K | -64.80% | 2.61M |
| PACER ADVISORS, INC. | 5.83K | 483 | +9.03% | 2.48M |
| NUVEEN, LLC | 5.04K | 794 | +18.70% | 2.15M |
| XTX TOPCO LTD | 4.50K | -6.11K | -57.61% | 1.92M |
| VANGUARD FIDUCIARY TRUST CO | 4.33K | 54 | +1.26% | 1.84M |
Forecast
Consensus Buy from 2 analysts.
Insights · Dividends · Forecast · Financials · Learn