Biglari Holdings Inc.
- BH-A · NYSE
- Retail-Eating Places
- San Antonio, TX
- 2,359 employees
- CIK 0001726173
Updated from SEC filings through
Top things to know
Revenue, FY2025$395M+9.2% vs FY2024Employees2,359As of December 31, 2025
Next earningsNovember 6, 2026Announced
Latest 8-KResults of operations and financial conditionFiled November 6, 2026 Executives
- Sardar Biglari Chairman and CEO 4, 2026-06-05
- Bruce Lewis Controller 10-Q, 2026-11-06
Biglari Holdings Inc. is a U.S. public company in retail-eating places (SIC 5812), headquartered in San Antonio, TX. It trades as BH-A on NYSE. Revenue was $395M in the fiscal year ending December 31, 2025, +9.2% from the year before. It reported about 2,359 employees. Sardar Biglari is Chairman and CEO.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $395M 10-K, 2026-03-02 | $362M 10-K, 2026-03-02 | $365M 10-K, 2026-03-02 | $368M 10-K, 2025-03-03 | $366M 10-K, 2024-02-26 |
| Operating income | Not on file | Not on file | Not on file | Not on file | Not on file |
| SG&A | $86.8M 10-K, 2026-03-02 | $75.7M 10-K, 2026-03-02 | $77.0M 10-K, 2026-03-02 | $70.6M 10-K, 2025-03-03 | $76.0M 10-K, 2024-02-26 |
| Net income | -$37.5M 10-K, 2026-03-02 | -$3.8M 10-K, 2026-03-02 | $54.9M 10-K, 2026-03-02 | -$32.0M 10-K, 2025-03-03 | $35.5M 10-K, 2024-02-26 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| Sardar Biglari | Chairman and CEO | 4, 2026-06-05 |
| Bruce Lewis | Controller | 10-Q, 2026-11-06 |
| JOHN G. CARDWELL | Board member (per proxy) bio: director | DEF 14A, 2026-03-11 |
| KENNETH R. COOPER | Board member (per proxy) bio: director | DEF 14A, 2026-03-11 |
| PHILIP L. COOLEY | Board member (per proxy) bio: Vice Chairman of the Board of Directors | DEF 14A, 2026-03-11 |
| RUTH J. PERSON | Board member (per proxy) bio: director | DEF 14A, 2026-03-11 |
What Biglari Holdings Inc. does
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.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 206,864 (as of November 3, 2020) | 10-Q, November 9, 2020 |
|---|---|---|
| Public float | $268M (as of June 30, 2025) | 10-K/A, March 31, 2026 |
| Latest proxy statement | Meeting April 8, 2026 (filed March 11, 2026) | DEF 14A, March 11, 2026 |
| Auditor | Deloitte & Touche LLP (Austin, Texas) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| June 5, 2026 | Sardar Biglari Chairman and CEO | Buy | 2,278 | $659K | Form 4, June 5, 2026 |
| May 14, 2026 | Sardar Biglari Chairman and CEO | Buy | 52,674 | $13.4M | Form 4, May 14, 2026 |
| March 13, 2026 | Sardar Biglari Chairman and CEO | Buy | 2,810 | $849K | Form 4, March 13, 2026 |
| March 9, 2026 | Sardar Biglari Chairman and CEO | Buy | 3,320 | $1000K | Form 4, March 9, 2026 |
| March 6, 2026 | Sardar Biglari Chairman and CEO | Buy | 2,441 | $750K | Form 4, March 6, 2026 |
| March 3, 2026 | Sardar Biglari Chairman and CEO | Buy | 1,146 | $379K | Form 4, March 3, 2026 |
| December 17, 2025 | Sardar Biglari Chairman and CEO | Buy | 3,452 | $1.6M | Form 4, December 17, 2025 |
| December 16, 2025 | Sardar Biglari Chairman and CEO | Buy | 817 | $547K | Form 4, December 16, 2025 |
Recent 8-K events
- 8-K filed 2026-11-06
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-08-07
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-05-08
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-04-10
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-03-02
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-11-21
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-11-07
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2025-10-06
- Item 1.01 Entry into a material definitive agreement
- Item 2.03 Creation of a direct financial obligation
- 8-K filed 2025-10-01
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-08-08
- Item 2.02 Results of operations and financial condition (earnings release)
Frequently asked questions about Biglari Holdings Inc.
- What does Biglari Holdings Inc. do?
- In its own words, from Item 1 of its 10-K: "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."
- What is Biglari Holdings Inc.'s revenue?
- $395M for the fiscal year ending December 31, 2025, from its 10-K filed March 2, 2026.
- Is Biglari Holdings Inc. profitable?
- Biglari Holdings Inc. reported net income of -$37.5M for the fiscal year ending December 31, 2025.
- How many employees does Biglari Holdings Inc. have?
- About 2,359 as of December 31, 2025, as stated in its annual report.
- Who is the CEO of Biglari Holdings Inc.?
- Sardar Biglari, Chairman and CEO, as named in a 4 filed June 5, 2026.
- Where is Biglari Holdings Inc. headquartered?
- San Antonio, TX.
- What is Biglari Holdings Inc.'s stock ticker?
- BH-A, BH on NYSE.
- What industry is Biglari Holdings Inc. in?
- Retail-Eating Places, SIC code 5812.
- What is Biglari Holdings Inc.'s website?
- biglariholdings.com.
- When does Biglari Holdings Inc. report earnings next?
- November 6, 2026. Source: ir_event.
- Is Biglari Holdings Inc. a public company?
- Yes. Biglari Holdings Inc. files with the SEC under CIK 0001726173 and trades as BH-A.
- Who audits Biglari Holdings Inc.?
- Deloitte & Touche LLP, Austin, Texas, as named in its latest annual report (10-K).
- How many shares of Biglari Holdings Inc. are outstanding?
- 206,864 shares as of November 3, 2020, from its 10-Q filed November 9, 2020.
- What is Biglari Holdings Inc.'s public float?
- $268M as of June 30, 2025, as reported on the cover of its 10-K/A filed March 31, 2026.
- When is Biglari Holdings Inc.'s annual shareholder meeting?
- April 8, 2026, per its proxy statement (DEF 14A) filed March 11, 2026.
- Have Biglari Holdings Inc. insiders traded stock recently?
- Since November 24, 2025, officers and directors reported 0 open-market sales and 11 purchases worth about $22.4M on Forms 4 and 5. The most recent: Sardar Biglari (Chairman and CEO) bought 2,278 shares on June 5, 2026.