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BH

BiglariB
NYSE / Consumer Services
Last Price
Quote time unavailable
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Current thesis
The best bull argument is that BH still posted double-digit same-store sales growth at Steak n Shake while franchise partner fees rose meaningfully, suggesting the transition to a more asset-light model is still progressing despite noisy consolidated accounting. Book value per Class A equivalent share was reported at $2,006.69 on March 31, 2026, implying about $401.34 per Class B equivalent and leaving the July 10 Class B price only modestly below reported book value.
Posture
Constructive
Lead driver
Sentiment
What changed
Sentiment remains the lead driver in the composite, 7D delta +17.2.
What can break
Analyst coverage and external revision data are thin in the packet, reducing confidence in any strong near-term rerating thesis.
Momentum
60
Value
47
Sentiment
72
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $400.00 · Bull $430.00 · Bear $320.00Analysis 2026-07-11; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-09 • Model: HYBRID_IC_RP
AI Memo
As of 2026-07-11 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-09-09

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-09. Definitions

Supporting evidence
What
Grade B · Constructive
Confidence Medium · Net Neutral
Why
Momentum60 · Δ7d 0.0
Value47 · Δ7d 0.0
Sentiment72 · Δ7d +17.2
So what
Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.

Confirming evidence

  • • Sentiment remains the lead driver in the composite, 7D delta +17.2.

Contradictions & invalidation

  • • Analyst coverage and external revision data are thin in the packet, reducing confidence in any strong near-term rerating thesis.
  • • BH remains exposed to investment-mark volatility and conglomerate complexity, which can obscure operating progress and keep valuation multiples compressed.
  • • The bear case is that operating deterioration is real: pre-tax operating earnings swung to a loss even with positive traffic, and the holding-company structure still leaves investors exposed to investment volatility and uneven segment performance.

Catalyst clock

2026-09-25

Next quarterly report is the key proof point on earnings conversion

Lead driver: Sentiment · See AI snapshot
Momentum
60
9% active weight
Current posture
7d trendSoftening
Δ7d
0.0
Δ21d
-23.2
Value
47
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
-6.6
Sentiment
72
62% active weight
Current posture
7d trendImproving
Δ7d
+17.2
Δ21d
+10.9
Why this grade

Composite grade B. Momentum 60.2 / Value 47.4 / Sentiment 71.9

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-07-11. Scenario method

B+
Bull case
30%
Probability
Target price
$430.00
Analysis reference price unavailable
Analysis 2026-07-11 · RankAlpha Sentiment Codex
Most likely
B
Base case
45%
Probability
Target price
$400.00
Analysis reference price unavailable
Analysis 2026-07-11 · RankAlpha Sentiment Codex
B-
Bear case
25%
Probability
Target price
$320.00
Analysis reference price unavailable
Analysis 2026-07-11 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$1.25B
Beta
-
Shares Out
3.18M
P/E (TTM) · Derived
-32.5
P/S (TTM)
-
P/FCF (TTM) · Derived
24.51
Rev YoY
+7.9%
EPS YoY
-22.5%
Gross Margin
+29.0%
Op Margin
+5.2%
Net Debt
$20.81M
Current Ratio
2.45
As of 2026-09-09 • Updated nightlySource: Internal modelMethods & Data