Biglari (BH-A) Stock
Biglari's price implies about 2% free cash flow growth a year.
Key numbers
- EV / EBITDA
- 36.1x
- Revenue growth
- +8.1%
- Operating margin
- 2.5%
- Debt / equity
- 0.36x
What Biglari's price implies
From a reverse DCF on Biglari's SEC filings.
- Free cash flow, last 7 years
- 46.1%a year
- Revenue, same period
- -9.7%a year
At a market value of $1.2B, Biglari's free cash flow of $77M (fiscal 2025) would need to grow about 2% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 7 years. A 9% discount rate and 3% growth after year 10 (how it works). Change them in the Modeling tab or the reverse DCF calculator.
Revenue and free cash flow
Fiscal years, from Biglari's 10-K filings.
Biglari revenue and free cash flow
FY2016–FY2025Results from SEC filings
All three statements · Quarters, TTM and 20+ years of statements in Investingly
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $366M | $368M | $365M | $362M | $395M |
| Net income | $35M | -$32M | $55M | -$4M | -$37M |
| Free cash flow | $164M | $98M | $50M | $19M | $77M |
| EPS (diluted) | $111.83 | -$107.43 | $189.49 | -$13.45 | -$143.86 |
| Operating margin | 6.8% | 9.9% | 11.8% | 9.0% | 4.8% |
Where the revenue comes from
By segments, fiscal 2023. By year
Superinvestors who own BH-A
From each investor's latest 13F filing (what a 13F shows).
None of the superinvestors we track held BH-A in their latest 13F.
Biglari insider buying
Open-market purchases by executives and directors in the last 12 months, from SEC Form 4 filings (what insider buying tells you). Every purchase
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Jun 5, 2026 | Biglari Sardar Chairman and CEO | 535 | $297.14 | $158,970 |
| Jun 4, 2026 | Biglari Sardar Chairman and CEO | 1,743 | $286.76 | $499,823 |
| May 14, 2026 | Biglari Sardar Chairman and CEO | 14,351 | $258.06 | $4M |
| May 13, 2026 | Biglari Sardar Chairman and CEO | 15,358 | $260.36 | $4M |
| May 12, 2026 | Biglari Sardar Chairman and CEO | 22,965 | $249.84 | $6M |
Fundamental grade
Five factors scored 1 to 9 from BH-A's latest numbers. It describes the business, not whether the stock is a buy.
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How Biglari compares
Biglari's P/FCF is higher than 92% of Consumer Cyclical companies and 90% of the 2,361 companies with a P/FCF figure.
| Higher than | Consumer Cyclical | All stocks |
|---|---|---|
| P/FCF | 92% | 90% |
| Revenue growth | 63% | 48% |
| Operating margin | 29% | 34% |
| ROE | 19% | 26% |
Questions about Biglari
What growth does Biglari's stock price imply?
At a market value of $1.2B, Biglari would need its free cash flow to grow about 2% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 7 years its free cash flow grew 46% a year.
Are Biglari insiders buying the stock?
5 open-market insider purchases of BH-A in the last 12 months, from SEC Form 4 filings.
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