Updated
BiglariBH-A · Consumer Cyclical
$1,573.88-2.13%
Market cap$1.2B
IndustryRestaurants
Biglari (BH-A) Revenue breakdown
By segment, Restaurant operations is the largest at 69% of fiscal 2023 revenue; Insurance premiums and other grew fastest, 22% a year over 4 years.
Summary
By product, Restaurant operations is the largest at 71% of fiscal 2025 revenue; Insurance premiums and other grew fastest, 17% a year over 6 years.
Revenue by segment
Fiscal years, as Biglari reports them in its 10-K filings; fiscal 2023 total $365M.
| Segments | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Share |
|---|---|---|---|---|---|---|---|
| Restaurant operations | — | $610M | $351M | $271M | $242M | $251M | 69% |
| Insurance premiums and other | — | $30M | $53M | $59M | $65M | $67M | 18% |
| Oil And Gas Operations | — | $24M | $26M | $33M | $58M | $45M | 12% |
| Maxim | — | $4M | $4M | $3M | $5M | $2M | 1% |
| Steak n Shake | $761M | — | — | — | — | — | — |
| Western | $15M | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Biglari reports them in its 10-K filings; fiscal 2025 total $395M.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Restaurant operations | — | $610M | $351M | $271M | $242M | $251M | $251M | $281M | 71% |
| Insurance premiums and other | — | $30M | $53M | $59M | $65M | $67M | $73M | $76M | 19% |
| Oil and gas | — | $24M | $26M | $33M | $58M | $45M | $37M | $30M | 8% |
| Licensing and media | — | $4M | $4M | $3M | $5M | $2M | $1M | $8M | 2% |
| Product | $741M | — | — | — | — | — | — | — | — |
| Royalty | $31M | — | — | — | — | — | — | — | — |
| Other | $4M | — | — | — | — | — | — | — | — |
| Franchise | $3M | — | — | — | — | — | — | — | — |
| Franchisor | $33,000 | — | — | — | — | — | — | — | — |
Questions about Biglari
Where does Biglari make its money?
In fiscal 2023, by segment: Restaurant operations $251M, Insurance premiums and other $67M, Oil And Gas Operations $45M, Maxim $2M.
From Biglari's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.