Boston Omaha Corp (BOC) Balance Sheet
BOC balance sheet, 2025
December 31, 2025 · U.S. dollars$713.1M assets = $177.0M liabilities + $536.1M equity
Both columns are drawn to the same scale: what BOC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BOC financial health
Descriptive bands, not a rating. Fiscal 2025.
BOC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $65.7M2016 | $713.1M2025 | +30.3%/yr | |
| Total liabilities | $3.5M2016 | $177.0M2025 | +54.8%/yr | |
| Shareholders’ equity | $62.2M2016 | $516.1M2025 | +26.5%/yr | |
| Cash & short-term investments | $30.7M2016 | $78.3M2025 | +11.0%/yr | |
| Total debt | $02016 | $108.4M2025 | — | |
| Net cash (debt) | $30.7M2016 | −$30.1M2025 | −$60.8M | |
| Working capital | $29.1M2016 | $58.8M2025 | +$29.6M | |
| Book value per share | $10.292016 | $16.432025 | +5.3%/yr | |
| Current ratio | 10.082016 | 1.982025 | −8.10 | |
| Debt / equity | 0.002016 | 0.212025 | +0.21 | |
| Shares outstanding | 6.0M2016 | 31.4M2025 | +20.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BOC assets
BOC liabilities and equity
BOC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BOC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $78.3M | $86.6M | $96.0M | $74.1M | $235.4M | $292.5M | $154.2M | $110.2M | $91.6M | $30.7M |
| Cash & equivalents | $28.6M | $28.3M | $21.9M | $25.5M | $72.5M | $44.9M | $16.4M | $17.1M | $6.8M | $29.6M |
| Short-term investments | $49.7M | $58.3M | $74.1M | $48.6M | $162.9M | $247.6M | $137.9M | $93.1M | $84.8M | $1.2M |
| Receivables | $16.0M | $12.5M | $12.3M | $6.0M | $4.5M | $24.3M | $4.6M | $4.5M | $1.1M | $783,066 |
| Inventory | $0 | $0 | $3.4M | −$42.3M | −$87.5M | −$37.8M | $343,518 | $1 | −$83.1M | $1 |
| Other current assets | $24.6M | $18.3M | $19.7M | $76.2M | $238.4M | $50.0M | $2.9M | $3.9M | $84.2M | $821,202 |
| Total current assets | $118.9M | $117.4M | $131.4M | $114.0M | $390.7M | $329.0M | $162.2M | $118.6M | $93.8M | $32.3M |
| Property, plant & equipment (net) | $231.0M | $221.3M | $205.7M | $180.3M | $137.7M | $101.7M | $90.1M | $41.7M | $9.1M | $5.6M |
| Goodwill & intangible assets | $233.7M | $240.7M | $247.9M | $247.8M | $196.7M | $168.8M | $138.5M | $135.7M | $34.0M | $20.8M |
| Long-term investments | $126.3M | $146.5M | $181.3M | $140.3M | $61.7M | $44.8M | $43.4M | $33.0M | $0 | $0 |
| Other non-current assets | $3.1M | $2.3M | $1.9M | $1.4M | $20.3M | $0 | $2.7M | $3.3M | $16.5M | $7.0M |
| Total assets | $713.1M | $728.3M | $768.2M | $683.7M | $807.1M | $640.7M | $436.9M | $332.2M | $153.5M | $65.7M |
| Liabilities | ||||||||||
| Accounts payable | $14.0M | $22.3M | $18.4M | $11.0M | $25.3M | $6.8M | $5.7M | $3.6M | $2.1M | $465,898 |
| Short-term debt | $7.7M | $6.5M | $5.9M | $6.7M | $6.1M | $5.6M | $4.3M | $2.0M | $497,000 | $0 |
| Deferred revenue | $3.2M | $16.0M | $12.3M | $9.7M | $7.1M | $5.9M | $9.4M | $5.9M | $1.4M | $1.1M |
| Total current liabilities | $60.2M | $54.9M | $51.4M | $53.0M | $54.0M | $33.9M | $21.7M | $12.4M | $5.0M | $3.2M |
| Long-term debt | $46.4M | $38.4M | $26.5M | $27.0M | $28.5M | $21.8M | $17.6M | $0 | $0 | $0 |
| Lease obligations | $59.7M | $60.3M | $61.5M | $64.5M | $60.6M | $51.9M | $52.0M | — | — | — |
| Other long-term liabilities | $70.4M | $72.4M | $73.8M | $77.1M | $83.9M | $58.5M | $50.7M | $3.2M | $57,000 | $255,500 |
| Total liabilities | $177.0M | $165.6M | $151.8M | $157.1M | $166.5M | $114.1M | $89.9M | $15.6M | $5.1M | $3.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $31,600 | $31,471 | $31,312 | $29,707 | $29,699 | $27,232 | $23,511 | $22,085 | $14,363 | $6,897 |
| Retained earnings (deficit) | −$17.2M | −$4.7M | $15.7M | $19.6M | $12.4M | −$42.7M | −$21.8M | −$20.3M | −$11.2M | −$4.7M |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | — | $0 | $0 | $0 | $0 |
| Minority interest | $19.9M | $29.9M | $78.2M | $7.4M | — | — | — | — | — | — |
| Total shareholders' equity | $516.1M | $532.8M | $538.2M | $503.5M | $496.3M | $381.6M | $345.2M | $315.2M | $147.2M | $62.2M |
| Key figures | ||||||||||
| Total debt | $108.4M | $99.9M | $88.9M | $93.0M | $90.6M | $75.0M | $70.1M | $2.0M | $497,000 | $0 |
| Net cash (debt) | −$30.1M | −$13.3M | $7.2M | −$18.9M | $144.8M | $217.5M | $84.2M | $108.2M | $91.1M | $30.7M |
| Working capital | $58.8M | $62.5M | $80.0M | $61.0M | $336.7M | $295.2M | $140.5M | $106.1M | $88.8M | $29.1M |
| Tangible book value | $282.4M | $292.1M | $290.3M | $255.7M | $299.6M | $212.7M | $206.7M | $179.5M | $113.1M | $41.4M |
| Book value per share | $16.43 | $16.92 | $17.31 | $16.92 | $17.09 | $14.86 | $15.16 | $15.81 | $13.60 | $10.29 |
| Shares outstanding | 31.4M | 31.5M | 31.1M | 29.8M | 29.0M | 25.7M | 22.8M | 19.9M | 10.8M | 6.0M |
| Current ratio | 1.98 | 2.14 | 2.56 | 2.15 | 7.23 | 9.71 | 7.48 | 9.53 | 18.65 | 10.08 |
| Quick ratio | 1.57 | 1.81 | 2.11 | 1.51 | 4.44 | 9.35 | 7.33 | 9.22 | 18.42 | 9.82 |
| Debt / equity | 0.21 | 0.19 | 0.17 | 0.18 | 0.18 | 0.20 | 0.20 | 0.01 | 0.00 | 0.00 |
| Equity / assets | 72.4% | 73.2% | 70.1% | 73.6% | 61.5% | 59.6% | 79.0% | 94.9% | 95.9% | 94.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $35.3M | $79.1M | $78.3M | $92.3M | $90.2M | $67.4M | $86.6M | $59.1M | $59.4M | $56.1M | $96.0M | $97.1M |
| Cash & equivalents | $15.1M | $31.0M | $28.6M | $42.6M | $32.0M | $22.3M | $28.3M | $19.4M | $24.6M | $17.4M | $21.9M | $31.0M |
| Short-term investments | $20.2M | $48.1M | $49.7M | $49.7M | $58.2M | $45.1M | $58.3M | $39.6M | $34.8M | $38.7M | $74.1M | $66.2M |
| Receivables | $5.5M | $11.6M | $16.0M | $14.9M | $13.4M | $12.6M | $12.5M | $13.8M | $13.6M | $12.4M | $12.3M | $7.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$47.1M | −$47.1M | −$53.5M |
| Other current assets | $84.2M | $19.4M | $24.6M | $18.9M | $20.8M | $46.1M | $18.3M | $35.7M | $27.6M | $108.4M | $70.2M | $79.2M |
| Total current assets | $125.0M | $110.1M | $118.9M | $126.1M | $124.3M | $126.2M | $117.4M | $108.6M | $100.7M | $129.9M | $131.4M | $130.3M |
| Property, plant & equipment (net) | $228.2M | $231.2M | $231.0M | $227.3M | $227.7M | $225.1M | $221.3M | $216.9M | $214.4M | $210.2M | $205.7M | $211.8M |
| Goodwill & intangible assets | $218.2M | $232.0M | $233.7M | $235.5M | $237.2M | $238.8M | $240.7M | $242.6M | $244.7M | $246.0M | $247.9M | $247.1M |
| Long-term investments | $111.5M | $119.6M | $126.3M | $129.2M | $138.8M | $138.2M | $146.5M | $141.6M | $161.0M | $169.3M | $181.3M | $173.2M |
| Other non-current assets | $127,000 | $3.3M | $3.1M | $3.2M | $2.7M | $2.5M | $2.3M | $2.3M | $2.3M | $1.9M | $1.9M | $1.7M |
| Total assets | $683.1M | $696.2M | $713.1M | $721.4M | $730.6M | $730.8M | $728.3M | $711.9M | $723.1M | $757.3M | $768.2M | $764.1M |
| Liabilities | ||||||||||||
| Accounts payable | $8.3M | $12.3M | $14.0M | $21.5M | $20.6M | $19.1M | $22.3M | $18.6M | $19.3M | $16.3M | $18.4M | $14.0M |
| Short-term debt | $7.1M | $7.4M | $7.7M | $7.2M | $12.6M | $6.9M | $6.5M | $6.1M | $6.0M | $5.9M | $5.9M | $5.9M |
| Deferred revenue | $3.1M | $16.6M | $3.2M | $17.3M | $3.2M | $15.9M | $16.0M | $15.4M | $14.5M | $12.0M | $12.3M | $11.0M |
| Total current liabilities | $61.0M | $59.3M | $60.2M | $61.0M | $60.8M | $56.9M | $54.9M | $52.0M | $50.0M | $44.4M | $51.4M | $46.2M |
| Long-term debt | $45.2M | $45.8M | $46.4M | $43.4M | $43.8M | $41.1M | $38.4M | $35.5M | $36.1M | $26.3M | $26.5M | $26.7M |
| Lease obligations | $53.9M | $57.5M | $59.7M | $59.8M | $60.8M | $61.1M | $60.3M | $60.3M | $60.3M | $61.1M | $61.5M | $62.4M |
| Other long-term liabilities | $61.6M | $67.9M | $70.4M | $69.0M | $70.7M | $73.0M | $72.4M | $71.0M | $71.6M | $72.5M | $73.8M | $76.2M |
| Total liabilities | $167.8M | $173.0M | $177.0M | $173.4M | $175.4M | $171.1M | $165.6M | $158.5M | $157.7M | $143.2M | $151.8M | $149.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $32,000 | $32,000 | $31,600 | $31,571 | $31,571 | $31,571 | $31,471 | $31,471 | $31,459 | $31,361 | $31,312 | $31,306 |
| Retained earnings (deficit) | −$20.9M | −$19.3M | −$17.2M | −$10.3M | −$7.7M | −$5.4M | −$4.7M | −$10.1M | −$8.5M | $12.9M | $15.7M | $19.3M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Minority interest | $13.4M | $13.9M | $19.9M | $19.5M | $24.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $501.9M | $509.2M | $516.1M | $528.4M | $531.0M | $533.3M | $532.8M | $527.7M | $530.5M | $536.2M | $538.2M | $541.0M |
| Key figures | ||||||||||||
| Total debt | $101.5M | $105.6M | $108.4M | $105.2M | $111.9M | $103.8M | $99.9M | $96.6M | $97.2M | $88.3M | $88.9M | $90.0M |
| Net cash (debt) | −$66.2M | −$26.6M | −$30.1M | −$12.8M | −$21.7M | −$36.5M | −$13.3M | −$37.5M | −$37.8M | −$32.2M | $7.2M | $7.1M |
| Working capital | $64.0M | $50.8M | $58.8M | $65.1M | $63.6M | $69.3M | $62.5M | $56.6M | $50.7M | $85.5M | $80.0M | $84.1M |
| Tangible book value | $283.7M | $277.3M | $282.4M | $292.9M | $293.8M | $294.4M | $292.1M | $285.1M | $285.8M | $290.1M | $290.3M | $293.9M |
| Book value per share | $16.50 | $16.53 | $16.43 | $16.80 | $16.88 | $16.97 | $16.99 | $16.79 | $16.65 | $17.11 | $17.19 | $17.24 |
| Shares outstanding | 30.4M | 30.8M | 31.4M | 31.5M | 31.5M | 31.4M | 31.4M | 31.4M | 31.9M | 31.3M | 31.3M | 31.4M |
| Current ratio | 2.05 | 1.86 | 1.98 | 2.07 | 2.05 | 2.22 | 2.14 | 2.09 | 2.01 | 2.92 | 2.56 | 2.82 |
| Quick ratio | 0.67 | 1.53 | 1.57 | 1.76 | 1.70 | 1.41 | 1.81 | 1.40 | 1.46 | 1.54 | 2.11 | 2.27 |
| Debt / equity | 0.20 | 0.21 | 0.21 | 0.20 | 0.21 | 0.19 | 0.19 | 0.18 | 0.18 | 0.16 | 0.17 | 0.17 |
| Equity / assets | 73.5% | 73.1% | 72.4% | 73.2% | 72.7% | 73.0% | 73.2% | 74.1% | 73.4% | 70.8% | 70.1% | 70.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 30, 2026); data from EODHD.
BOC financial position
At the end of fiscal 2025 (December 31, 2025), Boston Omaha had total assets of $713.1 million (down 2.1% from a year earlier), total liabilities of $177.0 million and shareholders' equity of $516.1 million. It held $78.3 million in cash and short-term investments against $108.4 million of debt, net debt of $30.1 million. Its current ratio was 1.98. In the latest quarter (ended June 30, 2026) total assets were $683.1 million and equity $501.9 million.
Related: BOC income statement, BOC cash flow statement, BOC key metrics. See the BOC stock overview for the latest quote and news.
BOC balance sheet FAQ
What are Boston Omaha's total assets?
Boston Omaha reported total assets of $713.1 million at the end of fiscal 2025 (December 31, 2025), compared with $728.3 million a year earlier.
How much debt does Boston Omaha have?
Boston Omaha had $108.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.21.
How much cash does Boston Omaha have?
Boston Omaha held $78.3 million in cash and short-term investments at the end of fiscal 2025; with $108.4 million of debt that is net debt of $30.1 million.
What is Boston Omaha's book value?
Boston Omaha's shareholders' equity (book value) was $516.1 million at the end of fiscal 2025, or $16.43 per share.
What is Boston Omaha's current ratio?
Boston Omaha had current assets of $118.9 million and current liabilities of $60.2 million, a current ratio of 1.98 (it can cover its short-term obligations).
How much goodwill does Boston Omaha have?
Boston Omaha carried $233.7 million of goodwill and intangible assets, 32.8% of total assets, at the end of fiscal 2025.