BOSTON OMAHA Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BOSTON OMAHA Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3.84	9.01	20	41.4	45.7	57	81.2	96.3	108	114
Cost of revenue	1.14	2.69	5.64	11.3				31.9	34.3	39.1
Gross profit	2.58	5.58	12.4	23.8	27.2	38.4	54.5	64.4	73.9	75.3
General and administrative	0.79	1.89	4.22	6.35	6.97	9.76	12.9	16.1	16.2	15.9
Operating expenses								73.2	82.4	79.2
Operating income	-3.14	-6.77	-12.3	-12.4	-4.99	-23.8	-5.23	-8.85	-8.47	-3.93
Interest expense	0.01	0.01	0	0.3	0.84	0.96	1.21	1.15	1.6	2.33
Interest income	0.02	0.1	1.95	3.2	1.66	0.68	0.43	2.61	1.39	1.2
Pre-tax income	-3.17	-6.48	-9.16	-1.48	-2.43	73.2	7.87	-9.15	3.1	-18.4
Income tax				0	0	17.7	-2.5	-2.98	-0.27	-0.08
Net income to minority interests					-2.38		-0.29	0.91	4.6	-5.88
Net income	-3.17	-6.47	-9.11	-1.49	-0.05	52.7	10.2	-7	-1.29	-12.4
EBITDA	-1.5	-3.42	-4.18	1.16	2.7	-13.6	9.89	10.7	6.03	13.1
EPS, basic	-0.75	-0.85	-0.65	-0.10	0.00	2.58	0.34	-0.23	-0.04	-0.40
EPS, diluted	-0.75	-0.85	-0.65	-0.10	0.00	2.58	0.34	-0.23	-0.04	-0.40
Shares, basic (weighted)	4.27	7.64	14.1	16.1	18.1	20.5	29.7	31.1	31.5	31.4
Shares, diluted (weighted)	4.27	7.64	14.1	16.1	18.1	20.5	29.8	31.1	31.5	31.4

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	29.6	6.84	17.1	16	44.7	72.5	25.5	21.9	28.3	16.1
Short-term investments	1.16	1.66	6.25	6.55	7.05	4.73	6.29	24.8	45	4.99
Receivables	0.78	1.1	4.46	4.19	4.04	4.47	5.83	12.1	12.4	9.58
Other current assets	0.54	0.76	2.82	1.42	2.2	2.86	4.69	5.57	5.49	3.18
Total current assets	32.3	93.8	119	162	329	391	114	131	117	142
Property, plant and equipment	5.58	9.11	41.7	36.8	48.9	76.5	116	144	162	172
Lease right-of-use assets				53.2	52.8	61.3	64.7	61.4	59.7	56.1
Goodwill	17.2	24.7	98.7	106	124	151	179	182	182	171
Intangible assets	3.55	9.35	37	32.3	44.4	45.4	68.3	65.5	58.3	50.1
Long-term investments	1.29	13.9	32.4	42.6	19.4	19.3	26.1	87.1	74.1	46.3
Other non-current assets	0.24	0.25	0.88	0.36	0.07	0.16	0.12	0.12	0.17	0.12
Total assets	65.7	153	332	437	641	807	688	768	728	713
Accounts payable	0.47	2.08	3.55	5.68	6.83	25.3	11	18.4	16.4	8.08
Deferred revenue	1.1	0.25	0.98	1.39	1.92	2.21	2.53	2.63	3.04	3.06
Short-term debt				0.5	1.28	1.49	1.55	0.81	1.2	2.39
Total current liabilities	3.21	5.03	12.4	21.7	33.9	54	53	51.4	54.9	65.3
Long-term debt				17.6	21.8	28.5	27	26.5	38.4	46.4
Lease liabilities				48.2	47.6	56	59.3	56.4	55	52
Other non-current liabilities			1.32	0.4	0.12	1.4	0.34	1.5	1.42	0.09
Total liabilities	3.46	5.09	15.6	89.9	114	166	158	152	166	177
Total debt				18.1	23.1	30	28.5	27.3	26.5	25.7
Paid-in capital	66.9	158	336	367	424	484	484	523	539	541
Retained earnings	-4.74	-11.2	-20.3	-21.8	-42.7	12.4	22.7	15.7	-4.75	-17.2
Treasury stock								0	-1.59	-7.43
Shareholders' equity	62.2	147	315	345	382	496	507	538	533	516
Minority interests						0	7.41	62.6	29.9	19.9
Total equity	62.2	147	315	345	382	496	514	601	563	536
Total liabilities and equity	65.7	153	332	437	641	807	688	768	728	713

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-3.17	-6.48	-9.16	-1.48	-2.43	55.5	10.4	-6.17	3.37	-18.3
Depreciation and amortization	1.64	3.35	8.08	13.6	7.69	10.1	15.1	19.6	14.5	17
Deferred income tax	-0.09				0	17.7	-2.82	-3.08	-0.29	-0.19
Change in receivables	0.01	-0.1	-2.07	-0.03	-0.02	-0.06	-1.42	-6.56	-0.61	0.43
Change in payables	0.09	-0.27	0.71	1.99	0.74	17.4	-12.3	7.64	3.92	-1.81
Cash from operations	-1.48	-3.19	0.04	9.61	5.17	7.77	-5.17	16.1	21.2	17.9
Capital expenditures	-0.71	-2.27	-3.12	-2.81	-8.57	-21	-40.1	-51.9	-32.2	-27.9
Acquisitions	-19.8	-12.2	-135	-7.47	-33.6	-41.3	-51.2	-10.9	0
Purchases of investments	-0.25	-177	-843	-1,190	-893	-1,648	-116
Cash from investing	-23.9	-111	-165	-60.6	-169	-45.7	87.9	-64.3	28.1	-13.5
Debt issued				18.1	5.5	8.13	0
Debt repaid				0	-0.5	-1.18	-1.5	-1.16	-1.27	-2.29
Stock issued	30.5	52.5	27.2	32.2	59.5	62.9	0.21	37.5	0	0.53
Share buybacks								0	-18.4	-5.75
Cash from financing	41.8	91.4	176	49.2	203	64.6	-110	32.9	-47.6	1.21
Net change in cash		-22.6	10.9	-1.77	38.6	26.7	-27	-15.3	1.78	5.52
Free cash flow	-2.19	-5.45	-3.08	6.8	-3.4	-13.2	-45.2	-35.8	-11	-10
Interest paid	0.01	0.01	0	0.24	0.82	0.92	1.17	1.13	1.53	2.35
Income taxes paid				0	0	0	0	0.1	0	0.05

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $13.47 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	64.5%	Gross profit / revenue.
Operating margin	-4.7%	Operating income / revenue.
EBITDA margin	10.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-14.5%	Pre-tax income / revenue.
Net margin	-11.4%	Net income / revenue.
Return on equity (ROE)	-2.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.9%	Net income / average total assets.
Return on invested capital (ROIC)	-0.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	22.1%	Capital expenditures / revenue.
D&A / revenue	15.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	20.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	11.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	22.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	117.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	9.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	37.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-15.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	28.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-3.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-2.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	11.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.05x	Current assets / current liabilities.
Quick ratio	0.40x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.31x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.05x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	3.7%	Total debt / total assets.
Liabilities / assets	24.6%	Total liabilities / total assets.
Net debt	$6.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.53x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-2.22x	Operating income / interest expense.
Working capital	$64.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	31.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$283.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.17x	Revenue / average total assets.
Fixed asset turnover	0.66x	Revenue / average property, plant and equipment.
Receivables turnover	21.1x	Revenue / average receivables.
Days sales outstanding	17 days	365 x average receivables / revenue.
Days payables	81 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.43	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.79	Revenue / diluted weighted shares.
Book value per share	$16.50	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.32	Tangible book value / shares outstanding.
Cash per share	$0.61	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$405.8M	Share price x shares outstanding.
Enterprise value	$412.4M	Market cap + total debt - cash - short-term investments.
P/S	3.52x	Market cap / revenue.
P/B	0.81x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.43x	Market cap / tangible book value, when positive.
EV/Sales	3.57x	Enterprise value / revenue.
EV/EBITDA	33.3x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-3.3%	Net income / market cap (the inverse of P/E).
Shareholder yield	4.0%	(Dividends paid + share buybacks) / market cap.

What was BOSTON OMAHA Corp's revenue in fiscal 2025?

BOSTON OMAHA Corp reported revenue of $114.4M for fiscal 2025, 5.6% higher than the year before.

Was BOSTON OMAHA Corp profitable in fiscal 2025?

No. It reported a net loss of $12.4M.

How much free cash flow did BOSTON OMAHA Corp generate in fiscal 2025?

Cash from operations of $17.9M minus capital expenditures of $27.9M left free cash flow of -$10.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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