Biglari Holdings Inc. (BH-A) Operating Margin (2017 - 2026)
Biglari Holdings' Operating Margin was -32.12% in Q2 2026, up 4.03 percentage points from -36.14% a year earlier and up 10.57 percentage points from the prior quarter.
Powered by 
Analysis
Biglari Holdings Inc. (BH-A) Operating Margin (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Biglari Holdings' Operating Margin was -38.18% through Jun 30, 2026, down 3.95 percentage points year-over-year; for FY2025, it came in at -36.06%, down 5.44 percentage points from FY2024.
- Operating Margin shows a five-year change of +23.31 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -30.62% in FY2024 (-4.67 pp), -25.95% in FY2023 (+2.28 pp), -28.23% in FY2022 (+10.72 pp) and -38.94% in FY2021 (+20.42 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin since Q1 2025.
- Compared with a year earlier, Operating Margin was higher in three of the last eight quarters, with an average year-over-year change of -6.43 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q3 2022 (a gain of 24.52 percentage points); the worst was Q3 2024 (a drop of 18.30 percentage points).
- Per Business Quant data, BH-A's Operating Margin in the three quarters before Q2 2026 was -42.68% (Q1 2026), -43.48% (Q4 2025) and -35.08% (Q3 2025).
Peer Set
Peer Comparison
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -32.12% |
| Mar 31, 2026 | -42.68% |
| Dec 31, 2025 | -43.48% |
| Sep 30, 2025 | -35.08% |
| Jun 30, 2025 | -36.14% |
| Mar 31, 2025 | -29.21% |
| Dec 31, 2024 | -35.16% |
| Sep 30, 2024 | -36.44% |
| Jun 30, 2024 | -18.85% |
| Mar 31, 2024 | -32.11% |
| Dec 31, 2023 | -32.78% |
| Sep 30, 2023 | -18.13% |
| Jun 30, 2023 | -26.61% |
| Mar 31, 2023 | -26.27% |
| Dec 31, 2022 | -28.01% |
| Sep 30, 2022 | -25.35% |
| Jun 30, 2022 | -25.60% |
| Mar 31, 2022 | -34.42% |
| Dec 31, 2021 | -31.65% |
| Sep 30, 2021 | -49.88% |
API Access
Biglari Holdings Inc. Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BH-A&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BH-A", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BH-A&period=max&api_key=YOUR_API_KEY");
const data = await res.json();