Boston Omaha Corp. (BOC) intrinsic value & 10-year financials
Boston Omaha Corp. (BOC) has a Graham intrinsic value of $7.97 per share. At $12.54 on Oct 17, 2026, the stock trades 57% above that value. Over the last 10 fiscal years revenue grew 45.8% a year to $114.4M, with an average return on invested capital of -2.7%.
- Graham intrinsic value
- $7.97
- Share price (Oct 17, 2026)
- $12.54
- Price vs Graham value
- 57% above
- Market cap
- $393.9M
- Revenue (FY2025)
- $114.4M
- Revenue growth (10-yr CAGR)
- 45.8%
- ROIC (10-yr avg)
- -2.7%
- Free cash flow (FY2025)
- -$10.0M
BOC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $114.4M | -$12.4M | -$0.40 | -$10.0M | -3.4% | -0.7% |
| FY2024 | $108.3M | -$1.3M | -$0.04 | -$11.0M | -7.8% | -1.2% |
| FY2023 | $96.3M | -$7.0M | -$0.23 | -$35.8M | -9.2% | -1.1% |
| FY2022 | $81.2M | $7.1M | $0.24 | -$45.2M | -6.4% | -1.0% |
| FY2021 | $57.0M | $52.7M | $1.82 | -$13.2M | -41.7% | -3.8% |
| FY2020 | $45.7M | $455.8K | $0.00 | -$3.0M | -8.8% | -1.0% |
| FY2019 | $28.4M | -$1.5M | — | $6.8M | -43.7% | -3.1% |
| FY2018 | $14.1M | -$9.1M | — | -$3.1M | -87.1% | -3.9% |
| FY2017 | $9.0M | -$6.5M | — | -$5.5M | -75.1% | -6.2% |
| FY2016 | $3.8M | -$3.2M | — | -$2.2M | -81.7% | -5.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BOSTON OMAHA Corp is a consistent compounder, expanding top-line revenue at 45.8% annually over the past decade.
BOSTON OMAHA Corp has historically struggled to out-earn its cost of capital, averaging just -2.7% ROIC.
BOSTON OMAHA Corp capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BOSTON OMAHA Corp is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $7.97 per share.