Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States. It owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. The company also engages in underwriting commercial truck insurance, including selling physical damage and non-trucking liability insurance to truckers; and property and casualty insurance and reinsurance. In addition, it operates …
Full BH-A analysis →
Biglari Holdings Inc. ranks #23 of 57
scored companies in Restaurants by moat score — the top 40%.
The widest moat in the group is Yum! Brands, Inc. (YUM)
at 83/100.
Moat scores for companies ranked near BH-A in Restaurants
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 38
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 87
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 35
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 76
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 55
· 15% of the moat score
Scale matters only when it converts into economics.
Biglari Holdings Inc. (BH-A) scores 58 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #23 of 57 scored companies in Restaurants, the top 40%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 56 companies in Restaurants. Its strongest defense is Customer Stickiness (87/100) and its weakest is Capital Efficiency (35/100).
How does Biglari Holdings Inc. compare with other Restaurants companies?
Biglari Holdings Inc. ranks #23 of 57 scored companies in Restaurants by moat score. The widest moat in Restaurants is Yum! Brands, Inc. (YUM) at 83/100. The companies ranked closest are Arcos Dorados Holdings Inc. (ARCO) at 59 just above it and Biglari Holdings Inc. (BH) at 58 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 56 companies in Restaurants. The defenses are then weighted to produce the overall score out of 100.
Why is Biglari Holdings Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Biglari Holdings Inc.?
The Corporate Default template measures 6 defenses, and BH-A scores: Pricing Power (61), Cost Advantage (38), Customer Stickiness (87), Capital Efficiency (35), Resilience (76), Scale & Market Position (55). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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