Is Boston Omaha Corp. overvalued or undervalued?

As of 13 August 2025, the valuation grade for Boston Omaha Corp. has moved from very attractive to attractive, indicating a shift in its perceived value. The company appears to be overvalued based on its high P/E ratio of 106 compared to its peers, such as IBEX Ltd. with a P/E of 10.62 and Clear Channel Outdoor Holdings, Inc. at -5.67. Additionally, the EV to EBITDA ratio of 18.16 further supports this assessment, as it is significantly higher than the industry average, suggesting that the stock may not be justified at its current price.
The price-to-book value stands at 0.83, which is relatively favorable, but when combined with a negative ROCE of -1.34% and a low ROE of 0.79%, it paints a picture of a company struggling to generate returns. Furthermore, Boston Omaha Corp.'s stock has underperformed the S&P 500 across multiple time frames, with a 1-year return of -8.91% compared to the S&P 500's 17.14%, reinforcing the notion that the stock is currently overvalued.