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Biglari Holdings Inc.
NYSE: BH-A, NYSE: BH · Retail-Eating Places · San Antonio, TX
- Revenue
- $395.3M
- +9.2% vs. prior year
- Net income
- -$37.49M
- -9.5% net margin
- Total assets
- $1.03B
- Diluted EPS
- -$143.86
Company details
As reported to the SEC
- SEC CIK
- 1726173
- Stock
- NYSE: BH-A, NYSE: BH
- Legal Entity Identifier (LEI)
- 549300GLWWSODF8TM682
- Industry (SIC)
- Retail-Eating Places (5812)
- Headquarters
- 19100 Ridgewood Pkwy, Suite 1200, San Antonio, TX 78259
- Incorporated in
- Indiana
- Fiscal year end (SEC record)
- December 31
- Filer status
- Accelerated filer
- Phone
- (210) 344-3400
- Last annual report
- 03/02/2026
- Last quarterly report
- 08/07/2026
Formerly: NBHSA Inc. (until 04/02/2018)
Annual financials
U.S. dollars, as tagged in each annual report's XBRL data. Later restatements replace earlier numbers. Select a date to open the filing.
| Fiscal year ended | 12/31/2025 | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 |
|---|---|---|---|---|---|
| Revenue | $395.3M | $362.1M | $365.3M | $368.2M | $366.1M |
| Net income | -$37.49M | -$3.76M | $54.95M | -$32.02M | $35.48M |
| Diluted earnings per share | -$143.86 | -$13.45 | $189.49 | -$107.43 | $111.83 |
| Total assets | $1.03B | $866.1M | $849.4M | $828.5M | $894.8M |
| Total liabilities | $502M | $293.2M | $250.1M | $272.9M | $307.1M |
| Shareholders' equity | $523.4M | $573M | $599.3M | $547M | $587.7M |
| Cash and cash equivalents | $268.8M | $30.71M | $28.07M | $37.47M | $42.35M |
| Long-term debt | $213.9M | $10M | Not reported | Not reported | $104.5M |
| Cash from operations | $107M | $49.66M | $73M | $127.8M | $228.8M |
| Capital expenditures | $30.35M | $30.59M | $23.41M | $29.75M | $64.55M |
Federal and state records filed under the name Biglari Holdings Inc.
Matched by the company name and by the subsidiary names it lists in SEC filings and other public records, after removing endings like Inc., Corp. and Holdings. Records marked Subsidiary were filed under a subsidiary name. A subsidiary that is not listed in those records is not included, and an unrelated business with the same name can appear.
Trucking registrations
Motor carrier registrations with the Federal Motor Carrier Safety Administration
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| Carrier | USDOT | Power units |
|---|---|---|
| Southern Oil Company IncSubsidiary · Suffolk, VA | 1331117 | 2 |
Subsidiaries
8 companies that Biglari Holdings Inc. owns or controls, as listed in its SEC annual report (Exhibit 21), GLEIF ownership records or USAspending
| Subsidiary | Listed in |
|---|---|
| Abraxas Petroleum Corporation | SEC 10-K |
| Biglari Reinsurance Ltd. | SEC 10-K |
| First Guard Insurance Company | SEC 10-K |
| Maxim Inc. | SEC 10-K |
| Southern Oil Company | SEC 10-K |
| Southern Pioneer Property & Casualty Insurance Company | SEC 10-K |
| Steak n Shake Inc. | SEC 10-K |
| Western Sizzlin Corporation | SEC 10-K |
Recent filings
121 recent filings on record; insider ownership forms (3, 4, 5 and 144) are not listed here
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| Form | Filed | Period |
|---|---|---|
| 8-KResults of operations | 08/07/2026 | 08/07/2026 |
| 10-QQuarterly report | 08/07/2026 | 06/30/2026 |
| 8-KResults of operations | 05/08/2026 | 05/08/2026 |
| 10-QQuarterly report | 05/08/2026 | 03/31/2026 |
| 8-KShareholder vote results | 04/10/2026 | 04/08/2026 |
| 10-K/AAnnual report (amended) | 03/31/2026 | 12/31/2025 |
| ARSAnnual report to shareholders | 03/11/2026 | 12/31/2025 |
| DEF 14AProxy statement | 03/11/2026 | 04/08/2026 |
| 8-KResults of operations, Regulation FD disclosure | 03/02/2026 | 02/28/2026 |
| 10-KAnnual report | 03/02/2026 | 12/31/2025 |
| UPLOADLetter from the SEC staff | 01/27/2026 | None |
| EFFECTNotice of effectiveness | 01/26/2026 | None |
| CORRESPLetter to the SEC staff | 01/22/2026 | None |
| CORRESPLetter to the SEC staff | 01/22/2026 | None |
| S-3Shelf registration statement | 01/16/2026 | None |
| SCHEDULE 13D/AOwnership report (5% holder, active, amended) | 01/14/2026 | None |
| SCHEDULE 13D/AOwnership report (5% holder, active, amended) | 12/29/2025 | None |
| 8-KRegulation FD disclosure | 11/21/2025 | 11/21/2025 |
| 8-KResults of operations | 11/07/2025 | 11/07/2025 |
| 10-QQuarterly report | 11/07/2025 | 09/30/2025 |
22 insider ownership reports (Forms 3, 4, 5 and 144) were filed about Biglari Holdings Inc. in the last 12 months. They list trades by officers, directors and large holders; see them on SEC EDGAR.
Other retail-eating places
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| Company | Headquarters | Revenue | Net income |
|---|---|---|---|
| McDonalds CorpMCD | Chicago, IL | $26.89B | $8.56B |
| AramarkARMK | Philadelphia, PA | $18.51B | $326.4M |
| Darden Restaurants IncDRI | Orlando, FL | $13.21B | $1.21B |
| Chipotle Mexican Grill IncCMG | Newport Beach, CA | $11.93B | $1.54B |
| Yum China Holdings, Inc.YUMC | Plano, TX | $11.8B | $929M |
| Restaurant Brands International Inc.QSR | Miami, FL | $9.43B | $1.07B |
| Restaurant Brands International Limited PartnershipQSP | Toronto, Ontario, Canada | $9.43B | $1.07B |
| YUM Brands IncYUM | Louisville, KY | $8.21B | $1.56B |
Profile refreshed Oct 26, 2026; financials refreshed Oct 22, 2026.
Frequently asked questions
- What is Biglari Holdings Inc.'s CIK number?
- Biglari Holdings Inc.'s SEC Central Index Key (CIK) is 1726173.
- What is Biglari Holdings Inc.'s stock ticker?
- Biglari Holdings Inc. trades as NYSE: BH-A, NYSE: BH.
- What was Biglari Holdings Inc.'s revenue?
- Biglari Holdings Inc. reported revenue of $395.3M for the fiscal year ended Dec 31, 2025, +9.2% from the year before.
- When does Biglari Holdings Inc.'s fiscal year end?
- Biglari Holdings Inc.'s fiscal year end on file with the SEC is December 31; its most recent fiscal year ended Dec 31, 2025.
- Where is Biglari Holdings Inc. headquartered?
- Biglari Holdings Inc.'s principal executive office on file with the SEC is in San Antonio, TX.
- What companies does Biglari Holdings Inc. own?
- Biglari Holdings Inc. lists 8 subsidiaries in its SEC filings and other public records, including Abraxas Petroleum Corporation, Biglari Reinsurance Ltd., First Guard Insurance Company.
Source: U.S. Securities and Exchange Commission, EDGAR submissions and XBRL company facts · Last updated 10/26/2026