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
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
One-year growth currently built into the price, compared with our model's estimate.
A comparable price-assumption read is not available for this company.
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
No outside relationship met the current evidence threshold.
Based on historical daily prices through 2026-09-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Worth watching into the next print: this name has erratic recent earnings surprises and is on a run of consecutive earnings misses. A fundamental tilt, not a price call.
Model as of 2026-09-04 · Compared with 30 industry peers · Company calendar date is not available
BH-A — capital allocation
Dated 2025-10-06
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. October 6, 2025 BIGLARI HOLDINGS INC. By: /s/ Bruce Lewis Name: Bruce Lewis Title: Controller
Why it matters: A continued rise in same-store sales shows strong demand and growth for Steak n Shake. This could boost overall earnings.
Supportive ifSame-store sales at Steak n Shake increase by more than 13.8% in the next quarter.
Worry ifSame-store sales growth falls below 5% in the next quarter.
Why it matters: Earnings results will show how well Biglari Holdings runs its business. Investors want to see if things are getting better or worse.
Watch forThe earnings report shows a profit or smaller losses compared to last quarter.
Also watch forThe earnings report shows bigger losses or no change from last quarter.
Why it matters: Better investment gains could cover losses. This shows better management of assets and helps profits.
Supportive ifInvestment gains reported above -$14,741 for Q2.
Worry ifInvestment losses reported worse than -$14,741 for Q2.
Why it matters: Biglari's operating earnings are improving. This shows the core business is getting better.
Supportive ifPre-tax operating earnings are over $7 million in Q3.
Worry ifPre-tax operating earnings fall below $5 million in Q3.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$130 on $10,000 · ±1.3% | How much price usually moves either way. |
| Bad day | $465 loss on $10,000 · 4.6% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $4,584 loss on $10,000 · 45.8% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: If the consumer discretionary sector grows, it may help Biglari Holdings. This could strengthen its market position.
Supportive ifThe consumer discretionary sector made more money this year. It grew compared to last year.
Worry ifThe consumer discretionary sector lost money this year. It fell compared to last year.
Why it matters: Positive revenue growth would signal a shift in the declining trend of the sector. It could show that Biglari Holdings is improving its business performance.
Supportive ifQ2 revenue growth reported as positive year over year.
Worry ifQ2 revenue growth reported as negative year over year.