Boston Omaha Corporation (BOC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-112.9%

-$1.73

vs $13.49 price

Levered DCF

-$15.89

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.57

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-30.92×	-345.85×	-68.39×	77.94×	15.79×	-14,552.63×	-300.57×	-50.87×
P/B	0.75×	0.84×	0.89×	1.57×	1.68×	1.86×	1.39×	1.48×
P/S	3.4×	4.12×	4.98×	9.71×	14.61×	15.52×	11.58×	23.3×
EV / EBITDA	32.07×	15.9×	31.61×	28.81×	9.58×	72.41×	33×	-436.11×
Gross margin	86.9%	68.3%	66.9%	67.1%	67.4%	59.5%	57.4%	62.1%
Operating margin	-3.4%	-7.8%	-9.2%	-6.4%	-41.7%	-10.9%	-30.0%	-61.2%
Net margin	-10.9%	-1.2%	-7.3%	12.6%	92.6%	-0.1%	-3.6%	-45.5%
Current ratio	1.98×	2.14×	2.56×	2.15×	7.23×	9.71×	7.48×	9.53×
Debt / equity	0.21×	0.19×	0.17×	0.18×	0.18×	0.2×	0.2×	0×
Interest coverage	-1.69×	-5.3×	-7.72×	-4.33×	-24.86×	-5.93×	-41×	-6,794.9×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.4%	-0.2%	-1.3%	2.0%	10.6%	-0.0%	-0.4%	-2.9%
Return on invested capital	-0.6%	-1.2%	-0.8%	-0.8%	-2.4%	-0.8%	-3.0%	-3.8%
Return on assets	-1.7%	-0.2%	-0.9%	1.5%	6.5%	-0.0%	-0.3%	-2.7%
Free cash flow yield	-2.6%	-2.5%	-7.5%	-5.7%	-1.6%	-0.5%	1.4%	-0.7%
Earnings yield	-3.2%	-0.3%	-1.5%	1.3%	6.3%	-0.0%	-0.3%	-2.0%
Enterprise value	$468.4M	$518.2M	$545.9M	$856.3M	$850.6M	$740M	$532.9M	$449.3M
Net debt / EBITDA	5.46×	2.2×	3.87×	2.27×	0.2×	2.94×	3.32×	16.6×
Cash conversion cycle (days)	-290	-194	-164	-701	-2,186	60	-77	-89