# Biglari Holdings Inc. (BH-A)

> Cited company facts from SEC filings, by Steadybase. Web page: https://steadybase.io/company/biglari-holdings-inc/ JSON: https://steadybase.io/company/biglari-holdings-inc.json Checked Nov 10, 2026. Latest filing read: Nov 6, 2026.

## Company

- Legal name: Biglari Holdings Inc.
- Ticker: BH-A, BH (NYSE, NYSE)
- SEC CIK: 0001726173
- Industry: Retail-Eating  Places (SIC 5812)
- Headquarters: San Antonio, TX
- Fiscal year ends: December 31
- SEC filer category: Accelerated filer
- Website: biglariholdings.com
- LinkedIn: https://www.linkedin.com/company/biglari-holdings-inc-
- Next earnings date: Nov 6, 2026

## Key facts

- Revenue: $395.3M for the fiscal year ended Dec 31, 2025 (10-K filed Mar 2, 2026). Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/0001628280-26-012987-index.html
- Net income: -$37.5M for the fiscal year ended Dec 31, 2025 (10-K filed Mar 2, 2026). Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/0001628280-26-012987-index.html
- SG&A: $86.8M for the fiscal year ended Dec 31, 2025 (10-K filed Mar 2, 2026). Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/0001628280-26-012987-index.html
- Employees: 2,359 as of Dec 31, 2025, as reported in an SEC filing. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm
- Shares outstanding: 206,864 as of Nov 3, 2020 (10-Q filed Nov 9, 2020). Source: https://www.sec.gov/Archives/edgar/data/1726173/000119380520001399/0001193805-20-001399-index.html
- Auditor: Deloitte & Touche LLP, Austin, Texas, named in the latest 10-K. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm

## Business

Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance and reinsurance, licensing and media, restaurants, and oil and gas. The Company’s largest operating subsidiaries are involved in the franchising and operating of restaurants. Biglari Holdings is founded and led by Sardar Biglari, Chairman and Chief Executive Officer of the Company.

Source: Item 1. Business, https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm

## Annual results

| Fiscal year ended | Revenue | Net income | SG&A |
|---|---|---|---|
| Dec 31, 2025 | $395.3M | -$37.5M | $86.8M |
| Dec 31, 2024 | $362.1M | -$3.8M | $75.7M |
| Dec 31, 2023 | $365.3M | $54.9M | $77.0M |
| Dec 31, 2022 | $368.2M | -$32.0M | $70.6M |
| Dec 31, 2021 | $366.1M | $35.5M | $76.0M |

Each figure comes from the annual report for that year. Filing links for every figure: https://steadybase.io/company/biglari-holdings-inc.json

## Officers and directors

- Sardar Biglari, Chairman and CEO. Source: Form 4 filed Jun 5, 2026, https://www.sec.gov/Archives/edgar/data/1726173/000092189526001567/0000921895-26-001567-index.htm
- Bruce Lewis, Controller. Source: 10-Q filed Nov 6, 2026, https://www.sec.gov/Archives/edgar/data/1726173/000162828026071730/bh-20260930xexx3102.htm
- JOHN G. CARDWELL, Board member (per proxy). Source: DEF 14A filed Mar 11, 2026, https://www.sec.gov/Archives/edgar/data/1726173/000162828026016859/bh-20260311.htm
- KENNETH R. COOPER, Board member (per proxy). Source: DEF 14A filed Mar 11, 2026, https://www.sec.gov/Archives/edgar/data/1726173/000162828026016859/bh-20260311.htm
- PHILIP L. COOLEY, Board member (per proxy). Source: DEF 14A filed Mar 11, 2026, https://www.sec.gov/Archives/edgar/data/1726173/000162828026016859/bh-20260311.htm
- RUTH J. PERSON, Board member (per proxy). Source: DEF 14A filed Mar 11, 2026, https://www.sec.gov/Archives/edgar/data/1726173/000162828026016859/bh-20260311.htm

## Recent 8-K events

- Nov 6, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026071734/bh-20261106.htm
- Aug 7, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026054846/bh-20260807.htm
- May 8, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026032884/bh-20260508.htm
- Apr 10, 2026: Item 5.07, Submission of matters to a vote of security holders. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026024565/bh-20260408.htm
- Mar 2, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 7.01, Regulation FD disclosure; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012988/bh-20260228.htm
- Nov 21, 2025: Item 7.01, Regulation FD disclosure. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828025053527/bh-20251121.htm
- Nov 7, 2025: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828025050625/bh-20251107.htm
- Oct 6, 2025: Item 1.01, Entry into a material definitive agreement; Item 2.03, Creation of a direct financial obligation. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828025044299/bh-20251006.htm
- Oct 1, 2025: Item 7.01, Regulation FD disclosure. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828025043276/bh-20250930.htm
- Aug 8, 2025: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1726173/000162828025039268/bh-20250808.htm

## Insider trades (Form 4)

- Jun 5, 2026: Sardar Biglari (Chairman and CEO) bought 2,278 shares, about $658,793. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189526001567/0000921895-26-001567-index.htm
- May 14, 2026: Sardar Biglari (Chairman and CEO) bought 52,674 shares, about $13.4M. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189526001333/0000921895-26-001333-index.htm
- Mar 13, 2026: Sardar Biglari (Chairman and CEO) bought 2,810 shares, about $849,182. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189526000687/0000921895-26-000687-index.htm
- Mar 9, 2026: Sardar Biglari (Chairman and CEO) bought 3,320 shares, about $999,519. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189526000651/0000921895-26-000651-index.htm
- Mar 6, 2026: Sardar Biglari (Chairman and CEO) bought 2,441 shares, about $749,875. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189526000636/0000921895-26-000636-index.htm
- Mar 3, 2026: Sardar Biglari (Chairman and CEO) bought 1,146 shares, about $379,498. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189526000598/0000921895-26-000598-index.htm
- Dec 17, 2025: Sardar Biglari (Chairman and CEO) bought 3,452 shares, about $1.6M. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189525003369/0000921895-25-003369-index.htm
- Dec 16, 2025: Sardar Biglari (Chairman and CEO) bought 817 shares, about $547,138. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189525003361/0000921895-25-003361-index.htm
- Dec 10, 2025: Sardar Biglari (Chairman and CEO) bought 2,221 shares, about $705,671. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189525003310/0000921895-25-003310-index.htm
- Dec 5, 2025: Sardar Biglari (Chairman and CEO) bought 5,406 shares, about $1.6M. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189525003290/0000921895-25-003290-index.htm
- Nov 24, 2025: Sardar Biglari (Chairman and CEO) bought 2,032 shares, about $799,288. Source: https://www.sec.gov/Archives/edgar/data/1726173/000092189525003187/0000921895-25-003187-index.htm

## Latest filings

- 8-K filed Aug 7, 2026: https://www.sec.gov/Archives/edgar/data/1726173/000162828026054846/bh-20260807.htm
- 10-K filed Mar 2, 2026: https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm
- 10-Q filed Aug 7, 2026: https://www.sec.gov/Archives/edgar/data/1726173/000162828026054841/bh-20260630.htm
- DEF 14A filed Mar 11, 2026: https://www.sec.gov/Archives/edgar/data/1726173/000162828026016859/bh-20260311.htm

## About this data

SEC EDGAR filings, read by Steadybase. Every value links to the filing it came from.
Steadybase covers US-headquartered public companies that file with the SEC. API and MCP access: https://steadybase.io/docs/