Biglari Holdings, Inc. (BH-A)
NYSEConsumer DiscretionaryRestaurantsSnapshot 2026-09-04
$1928.21-0.77%
Close 2026-09-04 · 1-day change
NYSEConsumer DiscretionaryRestaurantsSnapshot 2026-09-04
QuarterlyIQ Insights · BH-A
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within consumer discretionary on a research-validated quality screen. As of 2026-09-04.
The screen ranks BH-A against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Consumer Discretionary names rated weak grew net income 56% of the time over the next year (vs 53% for the rest of the cohort, n=5213).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Focus on enhancing operating earnings from core businesses separate from investment gains/losses fluctuations.
Stated as a priority in 2 of last 2 quarters. Pre-tax operating earnings improved from a loss of $4.1M in 2026-Q1 to a gain of $6.3M in 2026-Q2, reflecting better operating business performance excluding investment gains. The trajectory shows delivering progress consistent with management's stated focus.
“Operating businesses are best analyzed before the impact of investment gains.”
“Operating businesses are best analyzed before the impact of investment gains.”
Drive growth in same-store sales for domestic company-operated and franchise-partner-operated Steak n Shake restaurants.
Newly stated in 2026-Q2. Management reported a 13.8% increase in same-store sales at Steak n Shake restaurants, indicating a positive growth trajectory in this segment for the quarter.
“Steak n Shake’s same-store sales for domestic company-operated and franchise-partner-operated restaurants increased by 13.8%.”
Over the trailing year it converted 4.10x of net income into operating cash flow. Historically, Consumer Discretionary names rated robust grew net income 58% of the time over the next year (vs 45% for the rest of the cohort, n=3652).
Not enough signal yet.
Not enough signal to read sensitivity to the broad stock market, the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
2 material management or governance events in the past 24 months, led by M&A activity. Historically, Consumer Discretionary names rated stable grew net income 47% of the time over the next year (vs 53% for the rest of the cohort, n=1906).
Not investment advice. As of 2026-09-04.