Boston Omaha Corporation (BOC)

From the record

Boston Omaha Corporation's filings since 2017 show 5 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2022-01-03); a warning not to rely on past financial statements (8-K item 4.02, the latest 2021-05-18); an auditor change (8-K item 4.01, 2 times, the latest 2025-06-20); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2021-05-18) (its current reports).

From the record

Boston Omaha Corporation's 10 filed years say what it did: revenue went from $4 million in fiscal 2016 to $114 million in fiscal 2025, up 45.8% a year; it rose in 9 of 9 years; it never fell from a peak; net income was positive in 3 of 10 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Boston Omaha Corporation's diluted share count grew about 1.8% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 1 sale and 14 purchases of their own stock on the open market in the year to 2026-09-30, buying about $3 million (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Boston Omaha Corporation lost about 4 cents for every dollar of shareholders' money, and gross profitability: its products earned about 11 cents per dollar of everything the company owns. Leverage: it owed about 28 cents per dollar of assets, and net share issuance: its share count shrank 0.3% over the year (the filed statements).

From the record

Boston Omaha Corporation's standing among 15 graded names in its industry family: revenue of $114 million in fiscal 2025 ranks in the top 42% by size; a net margin of -16% ranks in the bottom 23%; revenue growth of 12.1% a year over the last 3 filed years ranks in the top 25% (its annual reports).

From the record

Boston Omaha Corporation's leadership, from its insiders' filings and its current reports: no one files under a chief executive's title, so that part is not read; the 7 officers and directors filing in the last fifteen months have been on the record a median of 9.4 years (bottom 36%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 7 people in charge now (bottom 36%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Boston Omaha Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $29 million against debt of $46 million leaves -2.5% of its assets as net cash, top 30% of its family; cash from operations less capital spending is -8.8% of revenue (bottom 32%); a gross margin of 65.8% (top 8%) (its annual report).

From the record

Boston Omaha Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew 12.1% a year over the last three filed years against 45.8% over all 10, slowing (bottom 4% of its family); the newest year grew 5.6% (top 39%); capital spending grew -11.4% a year (bottom 28%) (its annual reports). Boston Omaha Corporation reported 4 lines of business in fiscal 2025: LMH at $46 million, BOB at $41 million, GIG at $27 million, and 1 more. 3 of 4 grew in the latest filed year, and the largest line is 40% of revenue (its annual report).

From the record

Boston Omaha Corporation's newest year against its own record: revenue of $114 million in fiscal 2025 came in 8.5% below the $125 million its prior three years' pace pointed to (bottom 32% of its family); net income of $18 million against a prior three-year average of $3 million (bottom 11%); a net margin of -16% against 3.2% before (bottom 25%) (its annual reports).