BIGLARI HOLDINGS INCINARY CLASS B (BH)
Consumer Discretionary · Casual Dining Restaurants / Diversified Holding Company · NYSE
A diversified holding company with a decentralized management structure, anchored by the iconic Steak n Shake and Western Sizzlin restaurant chains alongside insurance and energy assets.
What BIGLARI HOLDINGS INCINARY CLASS B does
Biglari Holdings Inc. is a diversified holding company with operations primarily in restaurant franchising and management, property and casualty insurance, oil and gas production, and licensing and media. The company's restaurant portfolio includes the Steak n Shake and Western Sizzlin chains, operating through a mix of company-owned locations, franchise partnerships, and traditional franchise models. Investment and capital allocation decisions are centralized, while operational management is decentralized across the company's various business units.
Themes: Restaurant operations and franchising, Property and casualty insurance, Oil and gas production, Diversified holding company, American casual dining
Fundamentals
- Price$388.85 as of 2026-08-21 close
- Market cap$1.2B as of 2026-08-24
- 1-year return+31.5% 2025-08-21 close $295.62 → 2026-08-21 close $388.85
- P/En/a negative earnings
- Net margin-4.7% as of 2026-08-24
- Gross margin+38.5% as of 2026-08-24
- ROE-3.4% as of 2026-08-24
- Debt / equity0.61 as of 2026-08-24
- Revenue growth (YoY)-17.1% as of 2026-08-24
- Revenue CAGR (3y)+2.4% SEC XBRL
- Beta0.52 as of 2026-08-24
- Last reported earnings2026-08-07 SEC EDGAR Form 8-K (Item 2.02)
How BH compares in its sector
- net profit marginbottom 25% 334 covered Consumer Discretionary peers, as of 2026-08-24
- operating marginmiddle range 334 covered Consumer Discretionary peers, as of 2026-08-24
- gross marginmiddle range 331 covered Consumer Discretionary peers, as of 2026-08-24
- return on equitybottom 25% 334 covered Consumer Discretionary peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 325 covered Consumer Discretionary peers
- free cash flow (absolute dollars, latest fiscal year)middle range 311 covered Consumer Discretionary peers, as of FY2025
Position among covered Consumer Discretionary companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How BIGLARI HOLDINGS INCINARY CLASS B looks technically
BIGLARI HOLDINGS INCINARY CLASS B (BH) is trading 11.7% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 18 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 9, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 52, neither overbought (above 70) nor oversold (below 30). It made a new 20-day high about 38 trading days ago. It is 19.6% below its highest point of the past year. Day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move.
Trend
8
| Distance from the 200-day | it is trading 11.7% above its 200-day average, the long-term trend line — a longer-term uptrend | +11.7% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $382.27 | $382.27 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $347.99 | $347.99 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing low 14 calendar days ago — the swings before that are what the structure reading is measured on | 14 sessions |
| Wave structure | its recent swings can be read as a completed three-part downward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes below 369.08. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave downward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 18 trading days ago — a "golden cross", a bullish long-term signal | 18 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 9, below the 25 that marks a real trend) | 8.9 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 52, neither overbought (above 70) nor oversold (below 30) | 52.1 |
|---|---|---|
| Position in its 14-day range | it is trading around the middle of its 14-day range ($369.08 to $408.25) — its "stochastic" reading is 50 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 50.5 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 30 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $483.60 | $483.60 |
|---|---|---|
| From the 52-week high | it is 19.6% below its 52-week high (its highest price of the past year) | -19.6% |
| Above the 52-week low | it is 65.5% above its 52-week low (its lowest price of the past year) | +65.5% |
| Below the 52-week high | it is 19.6% below its highest point of the past year | 19.6% |
| Since a 20-day breakout | it made a new 20-day high about 38 trading days ago | 38 sessions |
| Since a 55-day breakout | it made a new 55-day high about 38 trading days ago | 38 sessions |
| All-time high | its highest closing price on record is $483.60 (set on 2026-01-22) | $483.60 |
| Given back of the 52-week move | over the past year its closes ranged ($247.83 to $476.92), and it has recovered a bit over half of its fall from last year’s high — 62% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $389.41 to $396.74. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 61.6% |
| From the all-time high | it is 19.6% below its all-time high | -19.6% |
| Nearest price level | it is trading 5.8% above a support level at $366.46 — a price it turned at three times since 2025-12-26, most recently on 2026-08-07. Since 2024-08-21 it has 13 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -5.8% |
| All-time low | its lowest closing price on record is $5.71 (set on 1980-12-23) | $5.71 |
| Above the all-time low | it is 6710.0% above its all-time low | +6,710% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move | 0th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $19.39 between its high and its low — about 5.0% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $19.39 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $375.41 and $401.15 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $375.41 – $388.28 – $401.15 |
| Typical daily range (% of price) | its price moves about 5.0% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 5.0% |
| Stretch from the 200-day average | it is trading 2.1 daily ranges above its 200-day average price (11.7% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 2.1 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.66× |
|---|
Candlestick patterns
2
| Since a doji | 2 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 2 sessions ago |
|---|---|---|
| Since a bearish engulfing | 3 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 3 sessions ago |
Price gaps
3
| Gap at the open | it opened on 2026-08-21 0.5% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.5% |
|---|---|---|
| Open gap | it gapped 2.8% above the previous close 51 sessions ago and has not traded back through the level it left behind at 293.54 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +2.8% |
| Gap filled | a 4.5% gap down opened on 2026-07-29 has been "filled" 17 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 17 sessions ago |
Price streaks
1
| Closing streak | it closed lower in its latest session, after a session that did not close lower — a single down day rather than a run | 1 session down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 3.5 percentage points (the stock lost 1.2% while the market gained 2.3%) | -3.5% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 38.8 percentage points (the stock gained 41.9% while the market gained 3.1%) | +38.9% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 11.7 percentage points (the stock lost 0.6% while the market gained 11.1%) | -11.7% |
| vs market, 12 months | over the past 12 months this stock beat the market by 11.1 percentage points (the stock gained 31.5% while the market gained 20.5%) | +11.1% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bearish state: MACD momentum is negative, lagging the market over 6 months — these describe past price behaviour, not a forecast | 2 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 1.5% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-15 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is thick, spanning 11.3% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | +1.5% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 8% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $359.96 — a volume-weighted average of daily closes over 159 sessions, not a true tick-by-tick VWAP. | +8.0% |
|---|
Price levels it has turned at before
BH last closed at $388.85 on 2026-08-21. Since 2024-08-21 it has turned at 13 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $366.46 | Support | 5.8% below the last close | turned there three times · 2025-12-26 to 2026-08-07 |
| $358.91 | Support | 7.7% below the last close | turned there four times · 2026-04-08 to 2026-07-29 |
| $421.65 | Resistance | 8.4% above the last close | turned there twice · 2026-02-06 to 2026-02-18 |
| $327.37 | Support | 15.8% below the last close | turned there four times · 2025-07-23 to 2026-06-23 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part downward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes below $369.08.
It is the only labelling that fits these swings, though its proportions are not the textbook ones. It was chosen from 3 labellings that survived the rules, counting shorter readings of the same bars.
This reading has stood for 6 trading days, since 2026-08-14.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Recent golden cross (50-day crossed above 200-day) · in a Bollinger Band volatility squeeze · trendless / choppy (low ADX) · lagging the market · Near the golden pocket (has given back about two thirds of its 52-week move) | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low · bollinger bands
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Key risks (from latest filing)
["Restaurant operations face intense competition with low barriers to entry, impacting profitability as consumer preferences and local economic conditions shift","Current net losses (-4.71% margin) and declining revenues (-17.09% YoY) indicate operational challenges across business segments, particularly restaurants and investment partnerships","Significant debt obligations ($239.9M in notes payable and lease obligations as of Q1 2026) combined with negative earnings pressure cash generation and financial flexibility"]
Insider activity (SEC Form 4)
2 open-market purchases and 20 open-market sales by insiders in the last 90 days.
- Last 30 days0 buys · 10 sells ($2M) — 1 selling insider
- Last 90 days2 buys ($658793) · 20 sells ($10M) — 1 buying, 1 selling insiders
- Last 180 days9 buys ($17M) · 20 sells ($10M) — 1 buying, 1 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-07. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about BH's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
4 institutional 13F filers reported holding BH as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 4
- Reported shares held 80,967
- Reported value $26,685,824
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 2 increased, 2 decreased, 1 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
BH had 131,481 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
Short interest as a percent of shares outstanding is not shown for BH because we do not hold a verified share count to divide it by. The reported figures above are unaffected.
- Reported short interest (shares) 131,481
- Prior settlement (shares) 131,805
- Reported change -0.25%
- Days to cover (reported) 1
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- McDonald's (MCD)
- Wendy's (WEN)
- Texas Roadhouse (TXRH)
- Jack in the Box (JACK)
- Sonic Corp (Inspire Brands)
- Berkshire Hathaway
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does BIGLARI HOLDINGS INCINARY CLASS B (BH) do?
Biglari Holdings Inc. is a diversified holding company with operations primarily in restaurant franchising and management, property and casualty insurance, oil and gas production, and licensing and media. The company's restaurant portfolio includes the Steak n Shake and Western Sizzlin chains, operating through a mix of company-owned locations, franchise partnerships, and traditional franchise models.
What sector is BIGLARI HOLDINGS INCINARY CLASS B (BH) in?
BIGLARI HOLDINGS INCINARY CLASS B (BH) is classified in the Consumer Discretionary sector. Its industry is Casual Dining Restaurants / Diversified Holding Company. It trades on NYSE.
Who are BIGLARI HOLDINGS INCINARY CLASS B's (BH) competitors?
Notable peers of BIGLARI HOLDINGS INCINARY CLASS B (BH) include McDonald's, Wendy's, Texas Roadhouse, Jack in the Box and Sonic Corp (Inspire Brands). This peer set is informational only — not financial advice.
Is BIGLARI HOLDINGS INCINARY CLASS B (BH) overbought or oversold right now?
BIGLARI HOLDINGS INCINARY CLASS B (BH) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 52, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on BH come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.