Professional
Added to YB: 2026-03-03
Pitch date: 2026-02-27
BOC [neutral]
Boston Omaha Corporation
+4.59%
current return
Author Info
River Oaks Capital is an investment fund that invests in a concentrated number of small, underfollowed micro cap & small cap public companies. Sign up for the newsletter.
Company Info
Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States.
Market Cap
$388.4M
Pitch Price
$12.21
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.07
P/E
-1.3K
EV/Sales
3.79
Sector
Media
Category
value
River Oaks Capital Portfolio Holding: Boston Omaha Corporation
BOC (holding update): Billboard segment alone worth $300M+ (vs $390M market cap), meaning Broadband ($200M invested, $17-20M FCFE now, $30M long-term), Sky Harbour stake ($115M, 11.7M shares), & Insurance ($50M equity, premiums +70% YoY) valued at zero. Adj market cap offers 14-16% FCFE yield (6-8x P/E) ex-growth. Sum-of-parts $0.50/$1. Mgmt executing $30M buyback (~7% market cap). All 3 core businesses now scaled & generating meaningful FCF growth.
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