Biglari Holdings Inc. (BH) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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BH Revenue Growth
Revenue Breakdown (FY 2024)
BH's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
BH Revenue Analysis (2013–2024)
As of May 8, 2026, Biglari Holdings Inc. (BH) generated trailing twelve-month (TTM) revenue of $386.5 million, reflecting strong growth of +10.3% year-over-year. The most recent quarter (Q3 2025) recorded $99.7 million in revenue, down 0.9% sequentially.
Looking at the longer-term picture, BH's 5-year compound annual growth rate (CAGR) stands at -11.5%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $861.5 million in 2015.
Revenue diversification analysis shows BH's business is primarily driven by Restaurant Operations (69%), Insurance Operations (20%), and Oil and Gas (10%). With over half of revenue concentrated in Restaurant Operations, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Cyclical sector peers including FRPH (+2.7% YoY), LMFA, and CODI (-8.2% YoY), BH has outperformed the peer group in terms of revenue growth. Compare BH vs FRPH →
BH Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BHCurrent | $387M | +10.3% | -11.5% | 6.4% | |
 FRPH | $42M | +2.7% | +12.0% | 28.0% | |
 LMFA | $11M | - | - | -58.7% | |
 CODI | $1.9B | -8.2% | +5.3% | 2.3% | |
 WEN | $2.2B | -1.7% | +5.6% | 16.5% | |
 MCD | $26.9B | +6.8% | +7.0% | 46.1% |
BH Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $362.1M | -0.9% | $138.6M | 38.3% | $23.1M | 6.4% |
| 2023 | $365.3M | -0.8% | $116.4M | 31.9% | $39.4M | 10.8% |
| 2022 | $368.2M | +0.6% | $152.8M | 41.5% | $82.2M | 22.3% |
| 2021 | $366.1M | -15.6% | $142.8M | 39.0% | $66.8M | 18.2% |
| 2020 | $433.7M | -35.2% | $137.0M | 31.6% | $60.6M | 14.0% |
| 2019 | $668.8M | -17.4% | $135.2M | 20.2% | $35.0M | 5.2% |
| 2018 | $809.9M | -3.6% | $148.5M | 18.3% | $36.6M | 4.5% |
| 2017 | $839.8M | -1.2% | $152.5M | 18.2% | $267K | 0.0% |
| 2016 | $850.1M | -1.3% | $181.8M | 21.4% | $31.6M | 3.7% |
| 2015 | $861.5M | +4.0% | $183.2M | 21.3% | $23.3M | 2.7% |
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Start ComparisonBH — Frequently Asked Questions
Quick answers to the most common questions about buying BH stock.
Is BH's revenue growth accelerating or slowing?
BH maintains +10.3% revenue growth, in line with its 5-year CAGR of -11.5%. TTM revenue stands at $387M. Growth rate remains consistent with historical average.
What is BH's long-term revenue growth rate?
Biglari Holdings Inc.'s 5-year revenue CAGR of -11.5% reflects the sustained expansion pattern. Current YoY growth of +10.3% is near this long-term average.
How is BH's revenue distributed by segment?
BH reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.