BOC - Boston Omaha Corporation Stock Price, Fair Value and News

15.50USD-0.05 (-0.32%)Market Closed

Market Summary

USD15.50-0.05

Market Closed

-0.32%

BOC Stock Price

View Fullscreen

BOC RSI Chart

BOC Valuation

Market Cap

481.9M

Price/Earnings (Trailing)

-68.81

Price/Sales (Trailing)

5.01

EV/EBITDA

117.07

Price/Free Cashflow

-13.46

BOC Price/Sales (Trailing)

BOC Profitability

Operating Margin

90.08%

EBT Margin

-9.50%

Return on Equity

-1.3%

Return on Assets

-0.91%

Free Cashflow Yield

-7.43%

BOC Fundamentals

BOC Revenue

Revenue (TTM)

96.3M

Rev. Growth (Yr)

9.18%

Rev. Growth (Qtr)

0.51%

BOC Earnings

Earnings (TTM)

-7.0M

Earnings Growth (Yr)

-152.4%

Earnings Growth (Qtr)

-118.08%

Breaking Down BOC Revenue

Last 7 days

0.1%

Last 30 days

-6.8%

Last 90 days

-2.5%

How does BOC drawdown profile look like?

BOC Financial Health

Current Ratio

2.56

Debt/Equity

0.05

Debt/Cashflow

0.61

BOC Investor Care

Shares Dilution (1Y)

4.69%

Diluted EPS (TTM)

-0.23

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2023	87.8M	91.1M	94.2M	96.3M
2022	60.1M	66.8M	73.7M	81.2M
2021	47.5M	50.2M	53.1M	57.0M
2020	43.7M	45.0M	45.8M	45.7M
2019	26.3M	33.5M	38.9M	41.4M
2018	10.0M	11.0M	14.0M	20.0M
2017	5.2M	6.2M	7.5M	9.0M
2016	1.2M	2.1M	2.8M	3.8M
2015	47.1K	177.4K	511.7K	722.9K
2014	43.4K	39.7K	44.4K	43.9K
2013	0	94.5K	83.8K	74.4K
2012	0	0	82.0K	105.1K
2011	0	0	0	58.9K

Get all data in R, Python etc through our Historical Stock Data APIs

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

Try For Just $1.99

Tracking the Latest Insider Buys and Sells of Boston Omaha Corporation

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Apr 02, 2024	mcghie steven charles	acquired	4,398,750	15.96	275,611	see remarks
Mar 04, 2024	lafoy william scott	acquired	59,997	16.51	3,634	pres link media holdings,llc
Feb 05, 2024	weisenburger joshua paul	acquired	124,996	14.81	8,440	chief financial officer
Feb 05, 2024	weisenburger joshua paul	sold (taxes)	-36,936	14.81	-2,494	chief financial officer
Feb 05, 2024	meisinger joseph max	sold (taxes)	-44,326	14.81	-2,993	chief accounting officer
Feb 05, 2024	meisinger joseph max	acquired	149,996	14.81	10,128	chief accounting officer
Dec 14, 2023	weisenburger joshua paul	bought	29,972	15.9853	1,875	chief financial officer
Dec 08, 2023	rozek alexander buffett	sold	-	-	-70,000	co-ceo, co-president
Dec 06, 2023	royal jeffrey c	bought	150,411	15.0411	10,000	-
Dec 05, 2023	rozek alexander buffett	sold	-	-	-46,895	co-ceo, co-president

Which funds bought or sold BOC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 22, 2024	MetLife Investment Management, LLC	unchanged	-	-7,881	187,832	-%
Apr 22, 2024	FOUNDERS CAPITAL MANAGEMENT, LLC	added	67.00	205,679	526,398	0.10%
Apr 22, 2024	LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE	reduced	-0.16	-137,563	7,205,770	1.37%
Apr 19, 2024	Level Financial Advisors, Inc.	sold off	-100	-4,719	-	-%
Apr 19, 2024	CALDWELL SUTTER CAPITAL, INC.	unchanged	-	-9.00	479	-%
Apr 18, 2024	Compass Ion Advisors, LLC	new	-	172,271	172,271	0.03%
Apr 18, 2024	McGlone Suttner Wealth Management, Inc.	sold off	-100	-2,360	-	-%
Apr 15, 2024	Security National Bank	unchanged	-	-756	43,288	0.01%
Apr 12, 2024	Abacus Planning Group, Inc.	unchanged	-	-56,347	3,226,380	0.63%
Apr 12, 2024	AdvisorNet Financial, Inc	unchanged	-	-11.00	618	-%

Are Funds Buying or Selling BOC?

Are funds buying BOC calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own BOC

No. of Funds

Unveiling Boston Omaha Corporation's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 16, 2024	t. rowe price investment management, inc.	2.3%	705,334	SC 13G/A
Feb 14, 2024	t. rowe price investment management, inc.	2.3%	705,334	SC 13G/A
Feb 13, 2024	massachusetts institute of technology	8.1%	2,444,473	SC 13G/A
Jan 29, 2024	blackrock inc.	5.7%	1,723,090	SC 13G

Recent SEC filings of Boston Omaha Corporation

View All Filings

Date Filed	Form Type	Document
Apr 23, 2024	8-K	Current Report
Apr 05, 2024	8-K	Current Report
Apr 04, 2024	4	Insider Trading
Mar 27, 2024	8-K	Current Report
Mar 27, 2024	10-K	Annual Report
Mar 19, 2024	4	Insider Trading
Mar 05, 2024	4	Insider Trading
Feb 16, 2024	SC 13G/A	Major Ownership Report
Feb 16, 2024	8-K	Current Report
Feb 14, 2024	SC 13G/A	Major Ownership Report

Peers (Alternatives to Boston Omaha Corporation)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
OMC	18.5B	14.9B	0.32%	0.52%	12.45	1.24	3.89%	8.20%
IPG	11.7B	10.9B	-5.37%	-17.07%	10.69	1.08	-0.35%	17.10%
MID-CAP
ZD	2.4B	1.4B	-15.61%	-28.76%	58.8	1.79	-1.94%	-34.90%
CMPR	2.4B	3.2B	0.61%	96.80%	57.48	0.75	9.59%	115.73%
SMALL-CAP
CRTO	2.0B	1.9B	1.51%	16.83%	36.7	1.01	-3.35%	457.06%
CDLX	544.7M	309.2M	-22.33%	103.80%	-4.04	1.76	3.57%	71.05%
DLPN	22.4M	43.1M	-11.76%	-35.48%	-0.92	0.52	6.46%	-410.38%
CNET	7.0M	29.7M	8.99%	-38.22%	-0.81	0.24	-13.28%	-56.29%

Boston Omaha Corporation News

Latest updates

Boston Omaha Corporation Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

Income Statement (Quarterly)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	0.5%	24,673,456	24,548,101	24,216,394	22,815,785	22,598,685	21,447,546	20,895,016	16,292,947	15,088,764	14,498,147	14,179,881	13,205,019	11,233,883	11,606,836	11,492,564	11,410,180	11,316,044	10,822,808	10,139,561	9,110,725	8,815,172
Cost Of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,764,890	2,711,397	2,640,622
Costs and Expenses	1.8%	26,963,434	26,490,830	25,859,298	25,792,577	22,866,665	23,242,743	21,611,998	18,742,683	33,515,385	17,259,145	15,273,353	14,690,797	13,462,886	12,327,459	12,357,873	12,590,152	11,948,452	14,611,907	13,342,200	13,898,675	12,921,575
S&GA Expenses	-5.0%	3,988,115	4,198,682	3,962,814	3,962,632	3,344,840	3,543,482	3,393,835	2,579,835	2,620,040	2,497,301	2,411,053	2,227,863	2,033,427	1,649,056	1,526,386	1,718,304	1,412,738	1,445,859	1,671,480	1,816,621	1,399,870
EBITDA Margin	-1.5%	0.04	0.04	0.05	-0.15	0.17	0.05	-0.47	-0.09	1.40	1.98	2.87	2.86	0.05	-0.20	-0.28	-0.42	0.05	-0.15	-0.25	-0.33	-
Interest Expenses	-0.9%	284,433	287,084	287,035	288,682	297,770	304,594	303,531	301,649	253,504	233,561	233,659	235,326	241,197	212,196	194,020	194,415	196,152	106,597	-	-	-
Income Taxes	-134.2%	-1,680,393	-717,596	1,070,866	-1,651,615	-4,272,412	-673,924	-4,238,736	6,680,139	3,462,981	-7,735,913	1,449,686	20,517,226	-	-	-	-	-	-	-	-	-
Earnings Before Taxes	18.2%	-2,596,902	-3,172,765	1,714,671	-5,091,467	2,293,978	-1,974,055	-15,494,650	23,048,910	-10,421,935	-36,514,548	11,472,985	108,637,286	15,397,823	3,466,171	3,435,451	-24,727,697	4,037,398	667,605	-2,096,790	-4,089,478	-3,522,078
EBT Margin	-7.3%	-0.10	-0.09	-0.08	-0.28	0.05	-0.07	-0.59	-0.21	1.28	1.86	2.77	2.75	-0.05	-0.30	-0.37	-0.51	-0.04	-0.23	-0.35	-0.42	-
Net Income	-118.1%	-3,581,961	-1,642,506	1,541,612	-3,321,154	6,835,667	-1,408,521	-11,496,339	16,302,593	-14,050,919	-26,276,094	8,637,563	84,437,627	17,819,170	3,463,671	3,402,308	-24,734,238	2,124,125	634,999	-2,114,348	-4,078,386	-3,515,417
Net Income Margin	-2243.3%	-0.07	0.00	0.01	-0.14	0.09	-0.14	-0.53	-0.26	0.93	1.59	2.28	2.30	0.00	-0.34	-0.41	-0.55	-0.08	-0.23	-0.35	-0.42	-
Free Cashflow	65.5%	-4,944,411	-14,310,936	-9,908,590	-6,643,278	-5,452,183	-11,446,400	-6,652,551	-21,671,345	-8,392,824	-3,431,230	-2,819,060	1,405,725	-590,888	-247,528	-1,850,491	-709,943	3,992,095	1,348,285	2,107,172	-646,231	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	0.5%	768	764	773	706	688	675	674	671	807	781	817	750	641	480	469	412	437	426	390	380	332
Current Assets	0.8%	131	130	158	138	114	131	143	199	391	412	505	443	329	202	187	127	162	154	121	119	119
Cash Equivalents	-29.1%	22.00	31.00	32.00	16.00	25.00	39.00	40.00	87.00	73.00	116	57.00	84.00	45.00	42.00	40.00	52.00	16.00	10.00	12.00	10.00	17.00
Net PPE	-3.3%	144	149	130	121	116	105	91.00	80.00	76.00	56.00	54.00	51.00	49.00	41.00	40.00	40.00	37.00	37.00	41.00	41.00	42.00
Goodwill	0.5%	182	181	1.00	179	179	171	172	18.00	151	129	130	3.00	124	113	114	115	106	106	-	-	-
Liabilities	1.7%	152	149	157	152	158	159	157	152	166	131	138	135	114	94.00	87.00	90.00	90.00	86.00	66.00	64.00	16.00
Current Liabilities	11.2%	51.00	46.00	53.00	50.00	53.00	52.00	49.00	39.00	54.00	34.00	34.00	33.00	34.00	25.00	21.00	22.00	22.00	21.00	18.00	16.00	12.00
Long Term Debt	-0.8%	27.00	27.00	27.00	27.00	27.00	27.00	28.00	28.00	29.00	21.00	21.00	22.00	22.00	22.00	17.00	17.00	18.00	18.00	-	-	-
LT Debt, Current	1.0%	1.00	1.00	1.00	2.00	2.00	2.00	2.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	-	-	-
LT Debt, Non Current	-0.8%	27.00	27.00	27.00	27.00	27.00	27.00	28.00	28.00	29.00	21.00	21.00	22.00	22.00	22.00	17.00	17.00	18.00	18.00	-	-	-
Shareholder's Equity	-0.5%	538	541	601	542	507	500	501	513	496	504	530	465	382	384	380	321	345	338	323	315	315
Retained Earnings	-18.6%	16.00	19.00	21.00	16.00	23.00	16.00	17.00	29.00	12.00	24.00	50.00	42.00	-42.67	-39.68	-43.14	-46.55	-21.81	-25.88	-26.52	-24.40	-20.33
Additional Paid-In Capital	0.2%	523	522	522	512	484	484	484	484	484	479	480	424	424	423	423	367	367	364	349	339	336
Accumulated Depreciation	-	36.00	-	-	-	24.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Shares Outstanding	-0.9%	31.00	31.00	31.00	31.00	30.00	30.00	30.00	30.00	29.00	29.00	29.00	27.00	26.00	25.00	25.00	24.00	23.00	23.00	22.00	22.00	20.00
Minority Interest	7.4%	63.00	58.00	58.00	11.00	7.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Float	-	-	-	441	-	-	-	448	-	-	-	616	-	-	-	237	-	-	-	237	-	-

Cashflow (Last 12 Months)

(In Thousands)

Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	-51.5%	3,817	7,878	2,996	1,368	4,410	5,105	998	-15,677	1,148	1,330	1,260	4,030	1,682	2,231	1,372	-110	4,578	2,140	2,659	237	1,791
Cashflow From Investing	-55.9%	-15,293	-9,810	-1,304	-37,844	-16,750	-6,182	-47,194	157,991	-56,234	57,472	-82,956	36,048	-131,920	-5,907	-67,403	35,831	-1,110	-36,682	-11,562	-11,271	10,274
Cashflow From Financing	78.9%	-1,175	-5,580	9,363	30,334	6,290	109	5,560	-121,684	12,467	-181	52,865	-505	142,539	4,078	56,192	-2.25	2,876	32,208	10,416	3,740	490

BOC Income Statement

2023-12-31

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Premiums earned	$ 13,932,659	$ 10,649,089
Insurance commissions	1,884,007	2,050,838
Investment and other income	2,156,199	662,270
Total Revenues	96,253,736	81,234,194
Costs and Expenses:
Cost of insurance revenues (exclusive of depreciation and amortization)	6,808,167	4,755,583
Employee costs	32,561,929	26,343,272
Professional fees	4,665,515	5,300,275
General and administrative	16,112,243	12,861,992
Amortization	7,409,939	6,474,791
Depreciation	12,155,096	8,649,066
Loss (gain) on disposition of assets	84,414	(61,377)
Accretion	216,501	206,359
Total Costs and Expenses	105,106,139	86,464,089
Net Loss from Operations	(8,852,403)	(5,229,895)
Other Income (Expense):
Interest and dividend income	2,609,148	434,941
Equity in income (loss) of unconsolidated affiliates	(7,888,765)	2,697,420
Other investment income (loss)	6,132,791	(15,635,690)
Gain recognized on deconsolidation of special purpose acquisition company	0	24,977,740
Remeasurement of warrant liability	0	1,837,211
Interest expense	(1,147,234)	(1,207,544)
Net (Loss) Income Before Income Taxes	(9,146,463)	7,874,183
Income tax benefit	2,978,738	2,504,933
Net (Loss) Income	(6,167,725)	10,379,116
Noncontrolling interest in subsidiary income	(836,284)	(145,716)
Net (Loss) Income Attributable to Common Stockholders	$ (7,004,009)	$ 10,233,400
Basic Net (Loss) Income per Share (in dollars per share)	$ (0.23)	$ 0.34
Diluted Net (Loss) Income per Share (in dollars per share)	$ (0.23)	$ 0.34
Basic Weighted Average Class A and Class B Common Shares Outstanding (in shares)	31,092,850	29,698,732
Diluted Weighted Average Class A and Class B Common Shares Outstanding (in shares)	31,092,850	29,766,247
Billboard Rentals [Member]
Revenues:
Revenues	$ 42,940,369	$ 39,244,726
Costs and Expenses:
Cost of revenues (exclusive of depreciation and amortization)	15,136,817	14,395,627
Broadband Services [Member]
Revenues:
Revenues	35,340,502	28,627,271
Costs and Expenses:
Cost of revenues (exclusive of depreciation and amortization)	$ 9,955,518	$ 7,538,501

BOC Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 21,946,884	$ 25,493,141
Cash held by BOAM funds and other	3,364,789	8,146,792
Accounts receivable, net	12,141,244	5,831,366
Interest receivable	185,482	196,066
Short-term investments	24,753,469	6,288,828
Marketable equity securities	2,210,037	8,768,938
U. S. Treasury securities	47,112,659	33,520,401
Funds held as collateral assets	14,101,531	21,026,579
Prepaid expenses	5,571,454	4,689,132
Total Current Assets	131,387,549	113,961,243
Property and Equipment, net	144,266,763	115,589,940
Other Assets:
Goodwill	182,380,136	179,463,522
Intangible assets, net	65,532,301	68,342,042
Investments	87,104,272	26,136,636
Investments in unconsolidated affiliates	94,244,788	118,218,389
Deferred policy acquisition costs	1,772,455	1,255,320
Right of use assets	61,399,460	64,719,405
Other	119,368	116,402
Total Other Assets	492,552,780	458,251,716
Total Assets	768,207,092	687,802,899
Current Liabilities:
Accounts payable and accrued expenses	18,438,647	10,963,784
Short-term payables for business acquisitions	618,003	4,219,358
Lease liabilities	5,085,221	5,203,981
Funds held as collateral	14,101,531	21,026,579
Unearned premiums	9,699,544	7,158,726
Current maturities of long-term debt	814,667	1,545,090
Deferred revenue	2,628,139	2,531,222
Other current liabilities	0	330,000
Total Current Liabilities	51,385,752	52,978,740
Long-term Liabilities:
Asset retirement obligations	3,794,985	3,569,580
Lease liabilities	56,438,308	59,281,733
Long-term debt, less current maturities	26,523,099	26,954,180
Other long-term liabilities	1,500,875	335,828
Deferred tax liability	12,111,812	14,939,607
Total Liabilities	151,754,831	158,059,668
Redeemable Noncontrolling Interests	15,638,013	15,713,021
Stockholders' Equity:
Preferred stock, $.001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding	0	0
Additional paid-in capital	522,506,626	483,917,938
Retained earnings	15,669,488	22,673,497
Total Boston Omaha Stockholders' Equity	538,207,426	506,621,142
Noncontrolling interests	62,606,822	7,409,068
Total Equity	600,814,248	514,030,210
Total Liabilities, Redeemable Noncontrolling Interests, and Equity	768,207,092	687,802,899
Common Class A [Member]
Stockholders' Equity:
Common Stock	30,256	28,651
Common Class B [Member]
Stockholders' Equity:
Common Stock	$ 1,056	$ 1,056

About Boston Omaha Corporation

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and investment businesses. The company was formerly known as REO Plus, Inc. and changed its name to Boston Omaha Corporation in March 2015. Boston Omaha Corporation was incorporated in 2009 and is headquartered in Omaha, Nebraska.

CEO	Mr. Alexander Buffett Rozek
WEBSITE	bostonomaha.com
INDUSTRY	Advertising Agencies
EMPLOYEES	420

Boston Omaha Corporation Frequently Asked Questions

What is the ticker symbol for Boston Omaha Corporation? What does BOC stand for in stocks?

BOC is the stock ticker symbol of Boston Omaha Corporation. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Boston Omaha Corporation (BOC)?

As of Tue Apr 23 2024, market cap of Boston Omaha Corporation is 481.94 Million. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of BOC stock?

You can check BOC's fair value in chart for subscribers.

What is the fair value of BOC stock?

You can check BOC's fair value in chart for subscribers. The fair value of Boston Omaha Corporation is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Boston Omaha Corporation is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for BOC so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Boston Omaha Corporation a good stock to buy?

The fair value guage provides a quick view whether BOC is over valued or under valued. Whether Boston Omaha Corporation is cheap or expensive depends on the assumptions which impact Boston Omaha Corporation's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for BOC.

What is Boston Omaha Corporation's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Tue Apr 23 2024, BOC's PE ratio (Price to Earnings) is -68.81 and Price to Sales (PS) ratio is 5.01. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. BOC PE ratio will change depending on the future growth rate expectations of investors.