Boston Omaha Corp Financials
This page shows Boston Omaha Corp (BOC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Operating cash generation is real, but capital spending keeps absorbing it before it can become free cash.
Across the last three fiscal years, operating cash flow stayed positive while free cash flow stayed negative, because capital expenditures consistently ran above internally generated cash. That means the business is not failing to turn activity into cash; it is choosing or needing to reinvest enough that a reported cash surplus never appears.
The margin structure is unusually high at the gross level but still thin after overhead: gross margin stayed around
The balance sheet remains lightly levered, with debt-to-equity at 0.1x and a current ratio near 2.0x, so reinvestment is not being funded by heavy borrowing. But FY2025 also shows a wider gap between operating results and net income: the operating loss narrowed while the net loss deepened to
Financial Health Signals
We are recalculating Boston Omaha Corp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Boston Omaha Corp scores 1.66, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($429.4M) relative to total liabilities ($177.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Boston Omaha Corp passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Boston Omaha Corp generates $-1.44 in operating cash flow ($17.9M OCF vs -$12.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Boston Omaha Corp earns $-1.7 in operating income for every $1 of interest expense (-$3.9M vs $2.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Boston Omaha Corp generated $114.4M in revenue in fiscal year 2025. This represents an increase of 5.6% from the prior year.
Boston Omaha Corp's EBITDA was $13.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 117.2% from the prior year.
Boston Omaha Corp reported -$12.4M in net income in fiscal year 2025. This represents a decrease of 863.6% from the prior year.
Boston Omaha Corp earned $-0.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 900.0% from the prior year.
Cash & Balance Sheet
Boston Omaha Corp generated -$10.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 8.4% from the prior year.
Boston Omaha Corp held $28.6M in cash against $46.4M in long-term debt as of fiscal year 2025.
Margins & Returns
Boston Omaha Corp's gross margin was 65.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.4 percentage points from the prior year.
Boston Omaha Corp's operating margin was -3.4% in fiscal year 2025, reflecting core business profitability. This is up 4.4 percentage points from the prior year.
Boston Omaha Corp's net profit margin was -10.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 9.7 percentage points from the prior year.
Boston Omaha Corp's ROE was -2.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.2 percentage points from the prior year.
Capital Allocation
Boston Omaha Corp spent $5.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 68.7% from the prior year.
Boston Omaha Corp invested $27.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.4% from the prior year.
BOC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $28.2M-4.9% | $29.7M+3.4% | $28.7M+1.9% | $28.2M+1.7% | $27.7M-0.7% | $27.9M+0.8% | $27.7M+2.3% | $27.1M |
| Cost of Revenue | $10.8M+0.7% | $10.7M+10.2% | $9.7M+1.5% | $9.6M+5.4% | $9.1M+6.6% | $8.5M-5.4% | $9.0M+4.6% | $8.6M |
| Gross Profit | $17.5M-8.1% | $19.0M-0.1% | $19.0M+2.1% | $18.6M-0.1% | $18.6M-3.9% | $19.4M+3.9% | $18.7M+1.2% | $18.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $3.9M-5.2% | $4.1M+2.1% | $4.0M+0.2% | $4.0M+5.8% | $3.8M-1.5% | $3.8M-11.6% | $4.3M+8.4% | $4.0M |
| Operating Income | -$2.2M-74.0% | -$1.3M-19.5% | -$1.1M-28.2% | -$820K-2.8% | -$798K+37.3% | -$1.3M-72.0% | -$740K+83.2% | -$4.4M |
| Interest Expense | $609K+7.8% | $565K-13.1% | $650K+13.4% | $573K+5.7% | $542K+12.7% | $481K+3.1% | $467K+26.7% | $368K |
| Income Tax | -$669K-140.3% | $1.7M+305.2% | -$809K-8.8% | -$744K-297.7% | -$187K-115.4% | $1.2M+328.4% | -$533K-2318.3% | -$22K |
| Net Income | -$2.1M+68.6% | -$6.9M-164.8% | -$2.6M-11.5% | -$2.3M-246.8% | -$669K-112.5% | $5.3M+435.3% | -$1.6M+28.6% | -$2.2M |
| EPS (Diluted) | $-0.07 | N/A | $-0.08-14.3% | $-0.07-250.0% | $-0.02 | N/A | $-0.05+28.6% | $-0.07 |
BOC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $696.2M-2.4% | $713.1M-1.1% | $721.4M-1.3% | $730.6M0.0% | $730.8M+0.3% | $728.3M+2.3% | $711.9M-1.5% | $723.1M |
| Current Assets | $110.1M-7.5% | $118.9M-5.7% | $126.1M+1.4% | $124.3M-1.5% | $126.2M+7.4% | $117.4M+8.2% | $108.6M+7.9% | $100.7M |
| Cash & Equivalents | $28.8M+0.6% | $28.6M-22.7% | $37.1M+24.8% | $29.7M+33.4% | $22.3M-21.3% | $28.3M+45.6% | $19.4M-21.1% | $24.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $11.6M-27.5% | $16.0M+7.6% | $14.9M+11.5% | $13.4M+6.5% | $12.5M+0.8% | $12.4M-8.7% | $13.6M+0.8% | $13.5M |
| Goodwill | $182.4M0.0% | $182.4M0.0% | $182.4M0.0% | $182.4M0.0% | $182.4M0.0% | $182.4M0.0% | $182.4M0.0% | $182.4M |
| Total Liabilities | $173.0M-2.3% | $177.0M+2.1% | $173.4M-1.1% | $175.4M+2.5% | $171.1M+3.3% | $165.6M+4.5% | $158.5M+0.5% | $157.7M |
| Current Liabilities | $59.3M-1.5% | $60.2M-1.4% | $61.0M+0.4% | $60.8M+6.8% | $56.9M+3.6% | $54.9M+5.6% | $52.0M+4.0% | $50.0M |
| Long-Term Debt | $45.8M-1.3% | $46.4M+6.9% | $43.4M-1.0% | $43.8M+6.6% | $41.1M+7.3% | $38.4M+8.1% | $35.5M-1.7% | $36.1M |
| Total Equity | $509.2M-1.3% | $516.1M-2.3% | $528.4M-0.5% | $531.0M-0.4% | $533.3M+0.1% | $532.8M+1.0% | $527.7M-0.5% | $530.5M |
| Retained Earnings | -$19.3M-12.5% | -$17.2M-66.3% | -$10.3M-33.4% | -$7.7M-42.8% | -$5.4M-14.1% | -$4.7M+53.0% | -$10.1M-18.8% | -$8.5M |
BOC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.9M-33.5% | $5.8M+17.7% | $4.9M+8.2% | $4.6M+78.5% | $2.6M-72.0% | $9.1M+75.6% | $5.2M+15.3% | $4.5M |
| Capital Expenditures | $6.5M-22.0% | $8.3M+53.3% | $5.4M-25.7% | $7.3M+6.4% | $6.9M-19.4% | $8.5M+32.3% | $6.4M-27.1% | $8.8M |
| Free Cash Flow | -$2.6M-4.6% | -$2.5M-412.4% | -$489K+82.1% | -$2.7M+36.3% | -$4.3M-794.8% | $619K+150.3% | -$1.2M+71.5% | -$4.3M |
| Investing Cash Flow | $5.3M+147.3% | -$11.3M-223.8% | $9.1M+5976.5% | -$155K+98.6% | -$11.2M-526.0% | -$1.8M-583.7% | -$262K-103.6% | $7.3M |
| Financing Cash Flow | -$11.0M-171.4% | -$4.1M+12.8% | -$4.7M-250.8% | $3.1M-54.8% | $6.8M+416.1% | $1.3M+113.5% | -$9.8M+71.6% | -$34.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $4.8M-15.1% | $5.7M | $0-100.0% | $170-99.8% | $87K-58.4% | $209K-84.8% | $1.4M-91.8% | $16.8M |
BOC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.9%-2.1pp | 64.0%-2.2pp | 66.2%+0.1pp | 66.1%-1.2pp | 67.3%-2.2pp | 69.5%+2.0pp | 67.5%-0.7pp | 68.2% |
| Operating Margin | -7.8%-3.5pp | -4.2%-0.6pp | -3.7%-0.8pp | -2.9%-0.0pp | -2.9%+1.7pp | -4.6%-1.9pp | -2.7%+13.6pp | -16.2% |
| Net Margin | -7.6%+15.5pp | -23.1%-14.1pp | -9.0%-0.8pp | -8.2%-5.8pp | -2.4%-21.6pp | 19.1%+24.9pp | -5.8%+2.5pp | -8.3% |
| Return on Equity | -0.4%+0.9pp | -1.3%-0.8pp | -0.5%-0.0pp | -0.4%-0.3pp | -0.1%-1.1pp | 1.0%+1.3pp | -0.3%+0.1pp | -0.4% |
| Return on Assets | -0.3%+0.6pp | -1.0%-0.6pp | -0.4%-0.0pp | -0.3%-0.2pp | -0.1%-0.8pp | 0.7%+0.9pp | -0.2%+0.1pp | -0.3% |
| Current Ratio | 1.86-0.1 | 1.98-0.1 | 2.07+0.0 | 2.05-0.2 | 2.22+0.1 | 2.14+0.1 | 2.09+0.1 | 2.01 |
| Debt-to-Equity | 0.090.0 | 0.090.0 | 0.080.0 | 0.080.0 | 0.080.0 | 0.070.0 | 0.070.0 | 0.07 |
| FCF Margin | -9.3%-0.8pp | -8.4%-6.7pp | -1.7%+8.0pp | -9.7%+5.8pp | -15.5%-17.7pp | 2.2%+6.7pp | -4.4%+11.5pp | -15.9% |
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Frequently Asked Questions
What is Boston Omaha Corp's annual revenue?
Boston Omaha Corp (BOC) reported $114.4M in total revenue for fiscal year 2025. This represents a 5.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Boston Omaha Corp's revenue growing?
Boston Omaha Corp (BOC) revenue grew by 5.6% year-over-year, from $108.3M to $114.4M in fiscal year 2025.
Is Boston Omaha Corp profitable?
No, Boston Omaha Corp (BOC) reported a net income of -$12.4M in fiscal year 2025, with a net profit margin of -10.9%.
What is Boston Omaha Corp's EBITDA?
Boston Omaha Corp (BOC) had EBITDA of $13.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Boston Omaha Corp have?
As of fiscal year 2025, Boston Omaha Corp (BOC) had $28.6M in cash and equivalents against $46.4M in long-term debt.
What is Boston Omaha Corp's gross margin?
Boston Omaha Corp (BOC) had a gross margin of 65.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Boston Omaha Corp's operating margin?
Boston Omaha Corp (BOC) had an operating margin of -3.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Boston Omaha Corp's net profit margin?
Boston Omaha Corp (BOC) had a net profit margin of -10.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Boston Omaha Corp's return on equity (ROE)?
Boston Omaha Corp (BOC) has a return on equity of -2.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Boston Omaha Corp's free cash flow?
Boston Omaha Corp (BOC) generated -$10.0M in free cash flow during fiscal year 2025. This represents a 8.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Boston Omaha Corp's operating cash flow?
Boston Omaha Corp (BOC) generated $17.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Boston Omaha Corp's total assets?
Boston Omaha Corp (BOC) had $713.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Boston Omaha Corp's capital expenditures?
Boston Omaha Corp (BOC) invested $27.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Boston Omaha Corp's current ratio?
Boston Omaha Corp (BOC) had a current ratio of 1.98 as of fiscal year 2025, which is generally considered healthy.
What is Boston Omaha Corp's debt-to-equity ratio?
Boston Omaha Corp (BOC) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Boston Omaha Corp's return on assets (ROA)?
Boston Omaha Corp (BOC) had a return on assets of -1.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Boston Omaha Corp's Altman Z-Score?
Boston Omaha Corp (BOC) has an Altman Z-Score of 1.66, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Boston Omaha Corp's Piotroski F-Score?
Boston Omaha Corp (BOC) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Boston Omaha Corp's earnings high quality?
Boston Omaha Corp (BOC) has an earnings quality ratio of -1.44x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Boston Omaha Corp cover its interest payments?
Boston Omaha Corp (BOC) has an interest coverage ratio of -1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.