Also trades as: BH-A (NYSE) · $vol 51M
BH NYSE
Biglari Holdings Inc.
1W: -12.9%
1M: +12.6%
3M: +0.7%
YTD: +12.1%
1Y: +2.8%
3Y: +160.0%
5Y: +129.9%
$386.06
-3.05 (-0.78%)
Weekly Expected Move ±6.9%
$342
$369
$396
$424
$451
Credit Risk of going bust: higher than 56% of companies Debt: 19.1% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $8.80 (down 98%), Biglari Holdings Inc. would be worth roughly what it owes.
Total debt $289.3M against a stock market value of $1.23B.
Distance to default 4.60 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $133.4M (short-term plus half of long-term), stock volatility 53.9%; Altman Z'' 4.29. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $8.80 (down 98%), Biglari Holdings Inc. would be worth roughly what it owes.
Total debt $289.3M against a stock market value of $1.23B.
Distance to default 4.60 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $133.4M (short-term plus half of long-term), stock volatility 53.9%; Altman Z'' 4.29. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
Overview
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Balance Sheet Trends
Total Assets
$1.0B
+21.1% ▲
5Y CAGR: +0.6%
Total Liabilities
$526M
+79.3% ▲
5Y CAGR: +3.0%
Shareholders Equity
$523M
-8.6% ▼
5Y CAGR: -1.5%
Cash & Investments
$338M
+152.7% ▲
5Y CAGR: +23.1%
Total Debt
$359M
+138.8% ▲
5Y CAGR: +5.0%
Net Debt
$90M
-24.8% ▼
Assets vs Liabilities & Equity
Year-over-Year Growth
View Full Balance Sheet
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Assets — | |||||
| Cash | $42M | $37M | $28M | $31M | $269M |
| Short-Term Investments | $83M | $69M | $92M | $103M | $69M |
| Cash & ST Investments | $125M | $107M | $120M | $134M | $338M |
| Net Receivables | $29M | $29M | $22M | $25M | $23M |
| Inventory | $4M | $4M | $3M | $4M | $4M |
| Other Current Assets | $3M | $6M | $2M | $2M | $10M |
| Total Current Assets | $165M | $151M | $153M | $171M | $375M |
| Property, Plant & Equip. | $392M | $435M | $413M | $410M | $407M |
| Goodwill & Intangibles | $77M | $77M | $77M | $75M | $76M |
| Long-Term Investments | $250M | $156M | $199M | $202M | $155M |
| Other Non-Current Assets | $11M | $2M | $8M | $8M | $37M |
| Total Non-Current Assets | $730M | $678M | $697M | $696M | $674M |
| Total Assets | $895M | $828M | $849M | $866M | $1.0B |
| — Liabilities — | |||||
| Accounts Payable | $37M | $28M | $22M | $29M | $35M |
| Short-Term Debt | $0 | $10M | $0 | $35M | $47M |
| Deferred Revenue | $38M | $29M | $27M | $0 | $0 |
| Other Current Liabilities | $13M | $17M | $28M | $56M | $63M |
| Total Current Liabilities | $144M | $135M | $111M | $147M | $156M |
| Long-Term Debt | $0 | $0 | $0 | $10M | $214M |
| Other Non-Current Liab. | $12M | $15M | $15M | $16M | $16M |
| Total Non-Current Liabilities | $163M | $138M | $139M | $146M | $370M |
| Total Liabilities | $307M | $273M | $250M | $293M | $526M |
| — Equity — | |||||
| Common Stock | $1M | $1M | $1M | $1M | $1M |
| Retained Earnings | $609M | $577M | $631M | $628M | $590M |
| Accumulated OCI | -$2M | -$3M | -$3M | -$3M | -$1M |
| Total Stockholders Equity | $588M | $547M | $599M | $573M | $523M |
| Total Liabilities & Equity | $895M | $828M | $849M | $866M | $1.0B |
| — Key Metrics — | |||||
| Total Debt | $121M | $119M | $101M | $150M | $359M |
| Net Debt | $79M | $81M | $73M | $119M | $90M |
| Total Investments | $333M | $225M | $291M | $305M | $224M |