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Boston Omaha Beneish M-Score

: -2.50 (As of Today)
View and export this data going back to 2016. Start your Free Trial

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Boston Omaha's Beneish M-Score or its related term are showing as below:

NAS:BOMN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.63   Med: -2.44   Max: -0.5
Current: -2.5

-3.63
-0.5

During the past 6 years, the highest Beneish M-Score of Boston Omaha was -0.50. The lowest was -3.63. And the median was -2.44.


Boston Omaha Beneish M-Score Historical Data

The historical data trend for Boston Omaha's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Boston Omaha Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only - -1.65 -0.50 -3.63 -2.53

Boston Omaha Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.67 -2.78 -2.53 -2.96 -2.50

Competitive Comparison

For the Advertising Agencies subindustry, Boston Omaha's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Boston Omaha Beneish M-Score Distribution

For the Media - Diversified industry and Communication Services sector, Boston Omaha's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Boston Omaha's Beneish M-Score falls into.



Boston Omaha Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Boston Omaha for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.2172+0.528 * 0.9166+0.404 * 0.6086+0.892 * 1.1151+0.115 * 1.2459
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1327+4.679 * -0.0467-0.327 * 0.7222
=-2.50

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $5.57 Mil.
Revenue was 14.18 + 13.205 + 11.234 + 11.607 = $50.23 Mil.
Gross Profit was 9.379 + 8.458 + 6.944 + 6.939 = $31.72 Mil.
Total Current Assets was $504.55 Mil.
Total Assets was $817.17 Mil.
Property, Plant and Equipment(Net PPE) was $110.45 Mil.
Depreciation, Depletion and Amortization(DDA) was $13.09 Mil.
Selling, General, & Admin. Expense(SGA) was $27.78 Mil.
Total Current Liabilities was $34.45 Mil.
Long-Term Debt & Capital Lease Obligation was $72.19 Mil.
Net Income was 8.638 + 84.438 + 17.819 + 3.464 = $114.36 Mil.
Non Operating Income was 12.758 + 109.661 + 16.607 + 4.274 = $143.30 Mil.
Cash Flow from Operations was 1.26 + 4.03 + 1.682 + 2.231 = $9.20 Mil.
Accounts Receivable was $4.11 Mil.
Revenue was 11.493 + 11.41 + 11.316 + 10.823 = $45.04 Mil.
Gross Profit was 6.472 + 6.88 + 6.781 + 5.94 = $26.07 Mil.
Total Current Assets was $186.99 Mil.
Total Assets was $468.88 Mil.
Property, Plant and Equipment(Net PPE) was $91.30 Mil.
Depreciation, Depletion and Amortization(DDA) was $13.89 Mil.
Selling, General, & Admin. Expense(SGA) was $21.99 Mil.
Total Current Liabilities was $21.43 Mil.
Long-Term Debt & Capital Lease Obligation was $63.30 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(5.573 / 50.226) / (4.106 / 45.042)
=0.11095847 / 0.09115936
=1.2172

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(26.073 / 45.042) / (31.72 / 50.226)
=0.57885973 / 0.63154541
=0.9166

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (504.548 + 110.449) / 817.172) / (1 - (186.988 + 91.299) / 468.881)
=0.24740813 / 0.40648693
=0.6086

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=50.226 / 45.042
=1.1151

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(13.89 / (13.89 + 91.299)) / (13.094 / (13.094 + 110.449))
=0.13204803 / 0.10598739
=1.2459

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(27.777 / 50.226) / (21.992 / 45.042)
=0.55304026 / 0.48825541
=1.1327

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((72.187 + 34.452) / 817.172) / ((63.295 + 21.427) / 468.881)
=0.13049762 / 0.18068977
=0.7222

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(114.359 - 143.3 - 9.203) / 817.172
=-0.0467

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Boston Omaha has a M-score of -2.50 suggests that the company is unlikely to be a manipulator.


Boston Omaha Beneish M-Score Related Terms

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Boston Omaha Business Description

Boston Omaha logo
Industry
Traded in Other Exchanges
Address
1601 Dodge Street, Suite 3300, Omaha, NE, USA, 68102
Boston Omaha Corp is a US-based company which invests in real estate. Its operations include its ownership of multiple billboards in Florida, Georgia, Wisconsin, and Alabama and equity method investments in several real estate companies. The company operates three separate lines of business, outdoor billboard advertising, surety insurance and related brokerage activities, and broadband services. It also engages in investments in real estate management and related activities. The company generates the majority of the revenue from billboard rentals.
Executives
Weisenburger Joshua Paul officer: Chief Financial Officer 1411 HARNEY ST. SUITE 200 OMAHA NE 68102
Briner Bradford B director 705 GIMGHOUL ROAD CHAPEL HILL NC 27514
Keating Brendan Joseph director 8918 SPANISH RIDGE AVENUE, SUITE 100 LAS VEGAS NV 89148
Boulderado Partners, Llc 10 percent owner 292 NEWBURY STREET SUITE 333 BOSTON MA 02115
Boulderado Group, Llc other: Manager is Director and Co-CEO 304 NEWBURY STREET SUITE 333 BOSTON MA 02115
Boulderado Capital, Llc 10 percent owner 292 NEWBURY STREET BOSTON MA 02115
Rozek Alexander Buffett director, 10 percent owner, officer: Co-Chief Executive Officer 292 NEWBURY ST #333 BOSTON MA 02115
Magnolia Group, Llc 10 percent owner 1411 HARNEY STREET SUITE 200 OMAHA NE 68102
Magnolia Boc Ii, Lp 10 percent owner 1411 HARNEY ST. SUITE 200 OMAHA NE 68102
Magnolia Boc I, Lp 10 percent owner 1411 HARNEY ST. SUITE 200 OMAHA NE 68102
Peterson Adam K director, 10 percent owner, officer: Co-Chief Executive Officer 1411 HARNEY STREET, SUITE 200 OMAHA NE 68102
Magnolia Capital Fund, Lp 10 percent owner 1411 HARNEY ST., SUITE 200 OMAHA NE 68102
Lafoy William Scott officer: CEO of Link Media Holdings,LLC C/O LINK MEDIA OUTDOOR 200 MANSELL CT. EAST, BLDG 200 STE. 360 ROSWELL GA 30076
Royal Jeffrey C director 5420 NICHOLAS STREET OMAHA NE 68132
Kenan Frank H. Ii director C/O BOSTON OMAHA CORPORATION., 292 NEWBURY ST. SUITE 333 BOSTON MA 02115

Boston Omaha Headlines

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