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NYSE · REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS · SMALL CAP

Boston Omaha Corp. BOC

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$114.4M
▲ 5.6% YoY
$-12.4M
$-10.0M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company operates four separate lines of business: outdoor billboard advertising, broadband services, surety insurance and related brokerage activities, and an asset management business. It also holds minority investments in commercial real estate management and brokerage services, a bank focused on servicing the automotive loan market, a company serving the broadband industry, and a publicly-traded developer of private aviation infrastructure focused on building, leasing and managing business aviation hangars. As of December 31, 2025, it operated approximately 3,900 billboards with approximately 7,500 advertising faces. As of December 31, 2025, it had approximately 49,500 broadband customers, including 19,900 fiber customers, and 48,300 fiber passings completed. UCS, its surety insurance subsidiary, now has licenses to operate in all 50 states and the District of Columbia. As of March 1, 2026, it had 422 employees, of which 260 were in broadband operations, 92 were in billboard operations, 65 were in insurance services and 5 were in administrative or corporate related activities. Boston Omaha Corporation commenced its current business operations in June 2015.

Written from the business description in BOSTON OMAHA Corp's annual report to the U.S. Securities and Exchange Commission, filed 30 March 2026. Every sentence was checked against that document before publication.

Growth

USD 114.4M
Revenue, FY2025 · full 15-year series below
Revenue $M Net income $M
FY2025 · Revenue 114.4 · Net income -12.4
50M100M
201120142017202020232025
Compound annual growth
+12.1%
+20.1%
+65.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +20.1% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−16 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -3.4% · Net -16.0%
50%-50%-100%-150%
201120182025
ROE
FY2025 · ROE -2.4%
5%10%-2%-4%-6%
201120182025
Three returns, three denominators.

Each USD of equity lost 2 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -10.0
2.5M5.0M-20.0M-40.0M
201120182025

Total assetsUSD 713.1M
EquityUSD 516.1M
CashUSD 28.6M
Gross debtUSD 48.8M
Net debtUSD 20.1M
Current ratio1.98×

Net debt stands at 4% of equity.

The 15-year record

15 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
BOC, 15-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue $B0.10.10.10.10.10.00.00.00.00.00.00.00.00.0◌
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0◌◌
EBITDA $B0.00.00.00.0−0.00.00.0−0.0−0.0−0.0−0.0◌◌◌◌
Income tax $B−0.0−0.0−0.0−0.00.00.00.0◌◌◌◌◌◌◌◌
Net income $B−0.0−0.0−0.00.00.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0◌◌◌◌
EPS, diluted $−0.40−0.04−0.230.341.820.00−0.07−0.46−0.60−0.53−0.71−0.25−0.04◌◌
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————————————
ROE %−2.4−0.2−1.32.012.0−0.0−0.5−3.9−6.2−7.4—————
Shares out B◌0.00◌◌◌◌◌◌◌◌◌0.000.000.000.00

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

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Provenance

Company facts, as filed

How we verify · 1 failure · 4 divergences in 64 reconciliationsAUDITED

Reconciled in 10 of the 15 fiscal years we could check. 4 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. Eight checks were skipped: the balance sheet is not tagged before 2011. Eight checks were skipped: cost of revenue is not tagged before 2015. Six checks were skipped: EPS is not tagged before 2013.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency1 failure4 divergent
ActivityReal Estate Operators (No Developers) & Lessors
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2011

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