What is Biglari Holdings Inc.'s Shariah compliance score?

Biglari Holdings Inc. (BH) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Biglari Holdings Inc. pass AAOIFI screening?

Biglari Holdings Inc. (BH) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. BH's debt-to-market-cap is 19.3%.

How much purification is needed for Biglari Holdings Inc.?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Biglari Holdings Inc. (BH) using the latest financial data.

Where can I screen Biglari Holdings Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Biglari Holdings Inc. (BH) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

BHNot HalalF

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Is Biglari Holdings (BH) Stock Halal?

Compliance Status

Not Halal

Screened on Nov 11, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Biglari Holdings Inc. (BH) halal? Not Halal. Based on AAOIFI screening, Biglari Holdings Inc. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Biglari Holdings Inc. (BH) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Nov 11, 2026. Source: https://halalscreener.app/en/stock/BH

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Within the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

19.3% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding BH

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

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Biglari Holdings Inc.

NYSEConsumer CyclicalUS

$362.47

Market Cap: 1.1B

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About Biglari Holdings Inc.

Biglari Holdings Inc., an enterprise established in 1934 and based in San Antonio, Texas, is a multifaceted company with its primary operations centered on managing and franchising restaurants throughout the United States. Its well-known dining brands include Steak n Shake and Western Sizzlin. By December 31, 2021, the company's restaurant network comprised 199 company-operated Steak n Shake locations, complemented by 159 franchise partner units and 178 conventional franchise outlets. Its Western Sizzlin brand encompassed 3 company-owned restaurants and 38 franchised establishments. Beyond its restaurant segment, Biglari Holdings engages in several other industries. It underwrites commercial trucking insurance, providing coverage for physical damage and non-trucking liability to truckers, and also offers general property and casualty insurance. The company is involved in the energy sector, operating oil and natural gas properties located in the Gulf of Mexico. Furthermore, it maintains a media presence through the MAXIM brand, publishing magazines and related content, alongside licensing various media products and services. Investment activities also form a part of its corporate portfolio. Originally named The Steak n Shake Company, the organization rebranded itself as Biglari Holdings Inc. in April 2010.

Sector: Consumer Cyclical · Industry: Restaurants

Why this does not pass

Business activity: the company earns from an activity AAOIFI treats as prohibited.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Nov 11, 2026

AI Compliance InsightProSee plans

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Insurance underwriting (premiums earned): 17.8% of revenues (fiscal 2025)

Source: the company's latest Form 10-K, computed from figures the filing states. View its filings on SEC EDGAR

Revenue BreakdownProSee plans

Compliance History

Not Halalnow
since Sep 2026
Halal
until the change above

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q3 2026Data source: FMP

Halal Alternatives in Consumer Cyclical

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Biglari Holdings Inc. (BH) halal to invest in?

Biglari Holdings Inc. (BH) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Biglari Holdings Inc. get a F compliance rating?

Biglari Holdings Inc. (BH) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 19.3% (limit 30%); interest-bearing deposits within the 30% limit; prohibited income over the 5% limit. The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Biglari Holdings Inc.'s Shariah verdict?

Biglari Holdings Inc.'s verdict is recalculated at every re-screen, including the one that follows each new quarterly or annual report. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Biglari Holdings Inc. re-screened for Shariah compliance?

Biglari Holdings Inc. (BH) is screened from the latest financial statements on record, currently those for fiscal Q3 2026. The 500 largest US-listed companies, and every stock on a HalalScreener watchlist or portfolio, are re-screened daily against the current market cap; every other stock at least once a week. When the company files a new quarterly or annual report with the SEC, it is re-screened from that filing: we check the SEC's filing feed every 15 minutes and the earnings calendar every day. Last screened: Nov 11, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.