BOSTON OMAHA CORP BOC
November 13, 2024 - 6:47am EST by
member
| 2024 | 2025 | ||||||
| Price: | 15.00 | EPS | 0 | 0 | |||
| Shares Out. (in M): | 31 | P/E | 0 | 0 | |||
| Market Cap (in $M): | 470 | P/FCF | 8.8 | 6.5 | |||
| Net Debt (in $M): | -34 | EBIT | 0 | 0 | |||
| TEV (in $M): | 436 | TEV/EBIT | 0 | 0 | |||
- None found
- BETA
- YELLOWSTONE ACQUISI CO -REDH YSACW 08/09/2021
Description
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 46 | |
Starfox:
Below you will find a response to all your points (in bold) from your last message:
“What I have found is that companies with governance concerns tend to trade at a price that reflects that, and... login to read the rest | |
| 44 | |
Best of luck for those that are long the stock and kudos to Starfox for taking the time and effort to clearly aritculate some important lessons that I had to learn the hard way in | |
| 42 | |
Hi Alex,
As other members have stated, I think discussion with the genuine intent of learning is valuable. This will be my last post on this thread because, as you rightly pointed out, there are better uses... login to read the rest | |
| 39 | |
Trev,
It's an interesting question and the lack of such successful companies is telling. Leucadia doesn't fit (Steinberg & Cummings were relatively young bankers and did not run a fund), but is pretty close in spirit. ... login to read the rest | |
| 36 | |
Starfox:
You say: “It's very difficult to reconcile your numbers to the financial statements. You're projecting almost $30M in FCF for 2025 and $40M for 2026 but EBITDA and cash from ops appear to be around... login to read the rest | |
| 35 | |
Light62,
You are obsessed with Alex Rozek (but I do appreciate that you are no longer falsely accusing me of being him). Rozek is no longer at the company. I bought my shares based on an... login to read the rest | |
| 29 | |
Light62:
You stated: "Bloomberg tells me (or did a few days ago) the total return here has been negative since it was listed in 2016. Am I missing something about the total return calculation or are you... login to read the rest | |
| 27 | |
Light62:
It’s quite clear to me that you are trying to slant everything as negatively as possible (which you also did in the comment section of my Sky Harbour write-up here on VIC) where you falsely... login to read the rest | |
| 26 | |
To add to Light, cash from ops is like $20M/yr after over $400M+ of cumulative investment according to your writeup. Even on your math, the bull case is they get to $40M cash from ops... login to read the rest | |
| 21 | |
SamPR:
I appreciate your thoughtful questions and comments.
Regarding the negative ratings and the vicious comments by others: There are clearly people on VIC who viscerally hate this company, and anything connected to it. It’s very bizarre.... login to read the rest | |
| 20 | |
Light62:
You state:
“I would add:
12) A quick look on Bloomberg tells me that cumulative GAAP Net Income over the 7-8 year period since this was recapitalized runs ~$30m (on average equity of somewhere around $400m so,... login to read the rest | |
| 19 | |
I typed a longer message but accidentally closed the window and it got deleted. Anyway, the thrust of it was:
1) LAMR is a REIT according to its 10-K and BOC is not (unless I am... login to read the rest | |
| 18 | |
Utah1009:
You said just said, "Allegation of what, exactly? I didn't "allege" anything, certainly nothing you can actually articulate."
However, just a moment ago, in an allegation against Peterson you stated the following about him:
“the idea of... login to read the rest | |
| 17 | |
Allegation of what, exactly? I didn't "allege" anything, certainly nothing you can actually articulate. | |
| 16 | |
Utah1009,
I have no idea what you are talking about and neither does one of the investors in Adam's fund who I sent your comment to. Adam’s investors consist of some of the most discerning allocators in | |
| 15 | |
You honestly can't figure out what I meant by this? You don't see the issue? Geez...okay. Many things I could say but I'll bite my tongue. I notice you didn't attempt to answer the question.
| |
| 14 | |
Utah1009:
You stated: “Why did Adam start BOC in the first place? As someone who runs a fund that's done okay (like Adam pre-BOC) the idea of jeopardizing it and pulling the rug out on my partners... login to read the rest | |
| 13 | |
It's very difficult to reconcile your numbers to the financial statements. You're projecting almost $30M in FCF for 2025 and $40M for 2026 but EBITDA and cash from ops appear to be around $15 -... login to read the rest | |
| 11 | |
Why did Adam start BOC in the first place? As someone who runs a fund that's done okay (like Adam pre-BOC) the idea of jeopardizing it and pulling the rug out on my partners in | |
| 9 | |
Understood, thanks. "performance bonuses are deferred until 2032" seemed to indicate bonuses are still being accrued but payout won't be until 2032. | |
| 8 | |
Thanks AlexB. Indeed, it's a long list of significant insider buys, and it goes a significant way toward mitigating some of the corporate governance issues (although not absolving them).
One thing that gives me pause about... login to read the rest | |
| 7 | |
Durableadvantage,
Thank you for the question.
I did not account for a liability for incentive compensation in my SOTP or FCF, because no liability would exist. As noted in my write-up, there is no incentive compensation through... login to read the rest | |
| 6 | |
SamPR,Thank you for reading the write-up and for your constructive question.
In my write-up, I mentioned: "Since Alex Rozek’s departure nearly every named insider has been buying shares in the open market in significant amounts."I know... login to read the rest | |
| 5 | |
Thanks for the write-up. I do find it an interesting (and apparently variant) view. The discount to NAV is significant if that's an unbiased analysis.
You write: "Nearly every named insider has been buying shares in... login to read the rest | |
| 2 | |
I am quite surprised to see that this scores an average of 2.7 among 12 votes.
I thought it was quite a good write-up (but do not own the stock).
Would be interested to hear why others | |
| 1 | |
Interesting write-up. Does your SOTP include a liability for incentive comp owed to Adam if those values are achieved? If not, what would that liability be? Thanks! | |