Boston Omaha Corp (BOC) AI Stock Analysis
BOC AI stock analysis summary
AI ResearchBoston Omaha Corp is a diversified holding company operating outdoor billboard advertising, broadband services, surety insurance, and strategic investments. The company grew annual revenue to $114.4M in FY2025 with a 5-year revenue CAGR of 20.1%, though it generated a net income of -$12.4M. For the trailing twelve months, revenue reached $115.5M alongside an operating margin of -3.3%.
- Market cap
- $357.6M
- Revenue (TTM)
- $115.5M
- P/E
- —
- 1Y return
- -9.5% S&P 500 16.8%
- Avg. target
- $14.00 11.6% vs last close
Bull case
- Boston Omaha has achieved a 5-year revenue CAGR of 20.1% through FY2025, expanding its top line to $114.4M.
- Gross margin widened significantly to 86.9% in FY2025, up from 68.3% in FY2024.
- The balance sheet maintains a low debt-to-equity ratio of 0.20 and a healthy current ratio of 2.05 as of June 30, 2026.
Bear case
- Boston Omaha remained unprofitable in FY2025 with a net income of -$12.4M and an operating margin of -3.4%.
- Free cash flow remained negative across the past five years, including -$10.0M in FY2025.
- Shares fell 66.4% over five years, significantly trailing the S&P 500 return of 83.0%.
What Boston Omaha does
Headquartered in Omaha, Nebraska, Boston Omaha Corporation operates a diversified business portfolio. The company manages outdoor billboard advertising primarily in the southeastern United States, featuring approximately 3,900 billboards with about 7,400 advertising faces, including digital displays. Boston Omaha also provides high-speed internet services to over 17,000 subscribers across southern Arizona and various cities in Utah, including Salt Lake City, Park City, Ogden, and Provo. In addition to billboards and broadband connectivity, the company maintains operations in surety insurance and related brokerage, alongside strategic investments to drive expansion.
Growth and profitability
Boston Omaha expanded revenue from $57.0M in FY2021 to $81.2M in FY2022, $96.3M in FY2023, $108.3M in FY2024, and $114.4M in FY2025, reflecting a 5-year revenue CAGR of 20.1%. Revenue growth moderated to 5.6% in FY2025, down from 12.5% in FY2024. Gross margin improved to 86.9% in FY2025, compared to 68.3% in FY2024 and 67.4% in FY2021. However, operating margin remained negative at -3.4% in FY2025, while net income fell to -$12.4M from -$1.3M in FY2024. For the latest quarter ending June 30, 2026, quarterly revenue growth was 2.4% year-over-year, while quarterly earnings growth dropped 82.2%.
Balance sheet and cash flow
As of June 30, 2026, Boston Omaha held $35.3M in cash and short-term investments against total debt of $101.5M, resulting in net debt of $66.2M. The company maintains a current ratio of 2.05 and a debt-to-equity ratio of 0.20 against shareholders' equity of $501.9M and total assets of $683.1M. In FY2025, operating cash flow reached $17.9M, while free cash flow stood at -$10.0M after capital expenditures of $27.9M. The company also allocated $5.8M to share buybacks in FY2025.
Valuation and performance
Boston Omaha trades at an enterprise value of $469.3M and a market cap of $357.6M. Its price-to-sales ratio of 3.1x and EV-to-EBITDA of 26.0x sit above the US-listed Industrials medians of 1.5x and 13.9x, respectively. The stock trades at a price-to-book ratio of 0.8x. Over the past year, the stock declined 9.5%, trailing the S&P 500 (SPY) return of 16.8%. Over a five-year period, the stock fell 66.4% compared to an 83.0% gain for the S&P 500.
What analysts expect
Based on analyst tracking, the mean price target for Boston Omaha stands at $14.00, representing an 11.6% upside compared to its last close of $12.54. For the fiscal year ending December 31, 2026, consensus estimates project an EPS of -$0.08, representing an EPS growth estimate of 80.0%. For the next fiscal year, one analyst projects revenue of $125.5M and an EPS of -$0.02. Over the last four quarters, the company delivered 0 EPS beats. The next earnings date is November 12, 2026.
Key risks and what to watch
- Quarterly earnings fell 82.2% year-over-year in the quarter ended June 30, 2026.
- The company recorded 0 EPS beats over the last 4 quarters, indicating ongoing earnings forecasting challenges.
- High capital expenditures of $27.9M in FY2025 continue to strain free cash flow despite positive operating cash flow of $17.9M.
- Valuation multiples remain elevated relative to the sector, with an EV-to-EBITDA of 26.0x compared to the US-listed Industrials median of 13.9x.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this BOC AI stock analysis
This page is an AI-written research summary of Boston Omaha Corp (BOC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: BOC income statement, BOC balance sheet, BOC key metrics, BOC analyst forecast, BOC chart. See the BOC stock overview for the latest quote and news.
BOC AI stock analysis FAQ
Does Boston Omaha Corp pay a dividend?
Boston Omaha Corp does not currently pay a dividend.
What was Boston Omaha's revenue growth in FY2025?
In FY2025, Boston Omaha reported revenue of $114.4M, representing a year-over-year revenue growth of 5.6%.
What is Boston Omaha's net debt position?
As of June 30, 2026, Boston Omaha held $35.3M in cash and short-term investments and $101.5M in total debt, resulting in net debt of $66.2M.
What is the analyst price target for BOC stock?
The mean price target is $14.00, which represents an 11.6% upside relative to its last close of $12.54 as of October 16, 2026.