Boston Omaha (BOC) AI Stock Analysis

• Market Cap: $423.05M
• Dividend Yield: N/A
• Average Volume (3M): 162.77K
• Price to Earnings (P/E): 475.3
• Beta (1Y): 0.52
• Revenue Growth: 11.58%
• EPS Growth: N/A
• Country: US
• Employees: 407
• Sector: Industrials
• Sector Strength: 88
• Industry: Advertising Agencies
• EPS (TTM): -0.02
• Shares Outstanding: 30,872,875
• 10 Day Avg. Volume: 139,302
• 30 Day Avg. Volume: 162,773
• PEG Ratio: 2.97
• Price to Book (P/B): 0.81
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -46.02
• Enterprise Value/Market Cap: 1.01
• Enterprise Value/Revenue: 1.01
• Enterprise Value/Gross Profit: 5.01
• Enterprise Value/Ebitda: 4.22
• 1Y Price Target: $15.00
• Price Target Upside: 14.16% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 55 Neutral
• Price Target: $14.00 ▲(6.54%Upside)

The overall stock score reflects significant challenges in profitability and valuation. The high P/E ratio suggests overvaluation, while technical indicators highlight bearish momentum. Despite strong revenue growth and a solid equity base, operational and cash flow issues are concerning, necessitating improved financial management.

Positive Factors

Insurance performance

The Insurance segment posted a strong quarter, with premium and commission revenues growing significantly year over year.

Revenue growth

Boston Omaha delivered another strong quarter, with broad-based revenue growth across all segments.

Negative Factors

Broadband challenges

Broadband revenue growth decelerated, and its EBITDA was significantly below estimates.

Capital consumption

Broadband is consuming significant capital, requiring BOC to demonstrate improvement to ensure the durability of potential cash flows.

Boston Omaha Business Overview & Revenue Model

Company Description

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and investment businesses. The company provides high-speed internet service to approximately 7,000 subscribers in communities in southern Arizona; and 10,000 subscribers in Salt Lake City, Park City, Ogden, Provo, and surrounding communities. As of March 25, 2022, it operated approximately 3,900 billboards containing approximately 7,400 advertising faces of which 80 are digital displays. The company was formerly known as REO Plus, Inc. and changed its name to Boston Omaha Corporation in March 2015. Boston Omaha Corporation was incorporated in 2009 and is headquartered in Omaha, Nebraska.

How the Company Makes Money

Boston Omaha Corporation makes money through its diversified operations in outdoor advertising, insurance, and real estate. In the outdoor advertising sector, BOC generates revenue by owning and leasing billboard spaces to advertisers. The insurance division earns income through the sale of surety insurance products, which include bonds for construction and commercial services. Additionally, the company invests in real estate ventures, generating returns through property development, management, and sales. Boston Omaha's earnings are further supported by strategic partnerships and investments in various businesses that align with its long-term growth strategy.

Boston Omaha Financial Statement Overview

Summary

Boston Omaha demonstrates robust revenue growth and a strong equity position. Nevertheless, profitability and cash flow management are areas of concern, as reflected in negative margins and free cash flow. The company should focus on improving operational efficiency and cash flow generation to enhance financial health.

Income Statement

The company has shown consistent revenue growth over the years, with a strong increase in 2024. However, the net profit margin is negative due to net losses, impacting overall profitability. Gross profit margin remains solid, but negative EBIT and EBITDA margins indicate operational challenges.

Balance Sheet

The balance sheet shows a strong equity base with a low debt-to-equity ratio, indicating financial stability. The company maintains a healthy equity ratio, suggesting a strong asset base backed by equity. However, there is an increase in total liabilities, which needs monitoring.

Cash Flow

Operating cash flow has improved, but the company faces challenges with negative free cash flow in recent years. The free cash flow to net income ratio is unfavorable, indicating cash flow issues despite operating profits.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	108.28M	96.25M	81.23M	56.97M	45.74M
Gross Profit	92.78M	64.35M	54.54M	38.38M	27.23M
EBITDA	32.59M	17.27M	29.73M	88.82M	10.22M
Net Income	-1.29M	-7.00M	10.23M	52.75M	-49.09K
Balance Sheet
Total Assets	728.35M	768.21M	683.72M	807.05M	509.65M
Cash, Cash Equivalents and Short-Term Investments	86.61M	96.02M	74.07M	235.40M	152.40M
Total Debt	99.89M	88.86M	92.98M	90.61M	74.99M
Total Liabilities	165.63M	151.75M	157.07M	166.46M	100.46M
Stockholders Equity	532.82M	538.21M	503.53M	496.33M	402.88M
Cash Flow
Free Cash Flow	-10.96M	-35.81M	-45.22M	-13.24M	-3.00M
Operating Cash Flow	21.24M	16.06M	-5.17M	7.77M	5.57M
Investing Cash Flow	28.10M	-64.25M	87.86M	-45.67M	-38.13M
Financing Cash Flow	-47.56M	32.94M	-109.73M	64.64M	60.01M

Boston Omaha Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BOC, the sentiment is Negative. The current price of 13.14 is below the 20-day moving average (MA) of 13.81, below the 50-day MA of 14.04, and below the 200-day MA of 14.53, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 39.38 is Neutral, neither overbought nor oversold. The STOCH value of 15.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BOC.

Boston Omaha Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NEXN	75 Outperform	$656.07M	15.14	8.57%	―	1.63%	―
DLX	71 Outperform	$720.31M	12.92	9.10%	7.38%	-2.69%	61.73%
Sector *	58 Neutral	HK$13.96B	4.77	-2.71%	5.86%	3.74%	-52.98%
BOC	55 Neutral	$423.05M	475.27	0.16%	―	11.58%	―
TSQ	54 Neutral	$112.66M	―	74.55%	11.61%	-0.16%	57.03%
NCMI	48 Neutral	$453.60M	―	-4.73%	1.25%	42.01%	-100.56%
CCO	48 Neutral	$506.65M	―	4.92%	―	-17.54%	66.05%

Boston Omaha Corporate Events

Boston Omaha’s Chief Accounting Officer Resigns

Boston Omaha Corporation has announced that its 2025 Annual Meeting of Stockholders will be held on August 25, 2025, at The Salvation Army Omaha Kroc Center in Omaha, Nebraska. The meeting will be conducted in person without remote streaming, and it will take place within 30 days of the anniversary of the 2024 Annual Meeting. Additionally, Joseph M. Meisinger, who became the full-time CEO of Boston Omaha Broadband, LLC in August 2024, has resigned from his role as Chief Accounting Officer of Boston Omaha Corporation, effective June 18, 2025, to focus on his CEO responsibilities.

The most recent analyst rating on (BOC) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Boston Omaha stock, see the BOC Stock Forecast page.