Operational efficiency is evidenced by a 2025Q4 OCF/NI ratio of 6.16, indicating strong cash conversion despite a $794K working capital outflow.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 5.05M | 1.29M | 1.83M | 1.28M | 9K | 1.06M | -915K | 743K | 355K | -361K | 370K | 1.08M | 1.05M | 1.71M | -365K | 1.28M | -1.27M | 416K | -4.59M | -2.29M | -3.9M | -1.05M | -2.97M | 1.57M | 848K | -1.56M | -5.02M | -1.6M | -500K | -1.7M |
| Operating CF Margin % | 9.98% | 3.24% | 4.14% | 3.09% | 0.03% | 3.15% | -2.71% | 2.28% | 1.23% | -1.32% | 1.45% | 3.93% | 4.05% | 6.97% | -1.09% | 4.25% | -4.99% | 0.82% | -19.33% | -10.92% | -14.42% | -12.71% | -51.83% | 16.68% | 1.43% | -1.83% | -7.68% | -5.88% | -7.04% | -22.97% |
| Operating CF Growth % | 289.95% | -29.25% | 42.56% | 14155.56% | -99.15% | 215.63% | -223.15% | 109.3% | 198.34% | -197.57% | -65.87% | 3.44% | -38.68% | 568.22% | -128.43% | 201.1% | -405.29% | 109.05% | -101.09% | 41.43% | -270.47% | 64.53% | -288.51% | 85.73% | 154.32% | 68.88% | -213.5% | -220% | 70.59% | - |
| Net Income | 3.61M | 2.3M | 2M | 1.28M | 451K | -960K | -913K | 990K | 773K | 360K | 334K | -433K | 0 | -549K | -3.21M | 171K | -9.1M | -6.14M | -8.4M | 92K | -3.6M | -2.05M | -396K | -8.11M | -12.97M | -7.7M | -1.07M | -2.4M | -2.4M | -2.8M |
| Depreciation & Amortization | 481K | 560K | 511K | 361K | 258K | 310K | 1.33M | 289K | 245K | 248K | 205K | 269K | 352K | 363K | 656K | 611K | 653K | 674K | 588K | 378K | 616K | 476K | 408K | 587K | 4.08M | 3.44M | 2.21M | 1.4M | 400K | 300K |
| Stock-Based Compensation | 144K | 74K | 98K | 97K | 67K | 65K | 81K | 67K | 60K | 124K | 130K | 302K | 211K | 107K | 169K | 217K | 649K | 581K | 454K | 5K | 860K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 949K | 203K | -225K | 232K | 56K | -16K | -171K | 0 | 136K | 952K | 52K | 133K | 3.06M | -118K | -70K | -88K | 0 | 0 | 0 | -16K | 69K | -69K | 0 | 0 | 0 |
| Other Non-Cash Items | 1.6M | 1.18M | 16K | -87K | -45K | 214K | 2K | 15K | 92K | -116K | 29K | -9K | 157K | 415K | 1.52M | 347K | 4.02M | 168K | 6.04M | -1.17M | 303K | 443K | -2.07M | 9.2M | 1.36M | 1.43M | -1.35M | 200K | 400K | 2.4M |
| Working Capital Changes | -794K | -2.82M | -801K | -364K | -722K | 480K | -1.61M | -393K | -1.05M | -1.03M | -312K | 1.13M | 328K | 1.24M | -452K | -114K | 2.37M | 2.07M | -3.16M | -1.52M | -1.99M | 81K | -915K | -108K | 8.4M | 1.2M | -4.74M | -800K | 1.1M | -1.6M |
| Change in Receivables | -4.09M | 470K | -1.59M | -1.63M | -37K | 891K | -1.97M | 1.18M | -1.88M | -857K | -927K | 1.99M | -130K | 500K | -682K | -366K | 4.66M | 1.55M | 0 | -118K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 1.33M | -1.94M | 453K | -1.07M | -515K | 575K | -2.13M | 366K | -926K | 189K | 340K | 875K | -679K | 475K | 506K | 138K | -942K | 308K | -1.21M | -697K | -1.16M | -461K | -106K | -548K | 488K | -37K | -543K | 100K | -300K | -300K |
| Change in Payables | 416K | -1.35M | -274K | 2.79M | -292K | -1.01M | 2.4M | -1.84M | 1.35M | -70K | 203K | -1.76M | 1.32M | 750K | -46K | 332K | -1.37M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -452K | -519K | -772K | -3.09M | -379K | 71K | -2.22M | -689K | -344K | -268K | -47K | -211K | 133K | -311K | -1.04M | -105K | -1.36M | -9.05M | -4.73M | 410K | -477K | -1.87M | 519K | -1.21M | -7.13M | -1.92M | -219K | -2M | -800K | -700K |
| Capital Expenditures | -452K | -519K | -341K | -2.43M | -379K | -84K | -335K | -689K | -368K | -139K | -66K | -60K | -113K | -82K | -357K | -108K | -335K | -251K | -214K | -24K | -272K | -214K | -64K | -163K | -721K | -1.14M | -504K | -1.9M | -300K | -1.1M |
| CapEx % of Revenue | 0.89% | 1.3% | 0.77% | 5.85% | 1.13% | 0.25% | 0.99% | 2.11% | 1.27% | 0.51% | 0.26% | 0.22% | 0.44% | 0.33% | 1.07% | 0.36% | 1.32% | 0.49% | 0.9% | 0.11% | 1.01% | 2.58% | 1.12% | 1.73% | 1.22% | 1.33% | 0.77% | 6.99% | 4.23% | 14.86% |
| Acquisitions | 0 | 0 | -431K | -664K | 0 | 98K | -1.9M | 0 | 53K | -154K | -256K | -130K | -77K | -255K | -256K | -147K | -1.03M | -8.96M | -4.55M | -1.39M | -1.12M | -1.44M | 8K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 98K | 10K | 0 | 53K | 10K | 19K | -49K | -14K | 26K | -427K | -105K | -357K | 0 | 31K | 1.16M | -790K | 38K | 545K | -851K | -3.5M | -786K | 285K | -100K | -500K | 0 |
| Cash from Financing | 3.78M | 217K | -389K | 1.58M | 1.31M | -532K | 1.97M | -92K | 236K | 496K | -426K | -356K | -530K | -1.46M | 1.11M | -912K | 1.59M | 6M | 11.56M | 1.68M | 4.16M | 1.61M | 722K | -3.44M | -1.59M | 19.78M | 3.37M | 2.6M | -200K | 6.6M |
| Debt Issued (Net) | 158K | 98K | -491K | 670K | -649K | -827K | 158K | -469K | -370K | -794K | -1.13M | -2.08M | -866K | -1.46M | 1.11M | -869K | 1.61M | 4.24M | 4.89M | 1.54M | 2.07M | 1.61M | 0 | -286K | -429K | -565K | 4.32M | 2.4M | 0 | -300K |
| Equity Issued (Net) | 3.62M | 69K | 102K | 912K | 1.84M | 102K | 1.5M | 377K | 606K | 1.26M | 760K | 1.73M | 336K | 0 | 0 | 265K | -17K | 1.76M | 6.67M | 135K | 2.09M | 0 | 928K | 58K | 0 | 23.18M | 80K | 200K | -200K | 6.9M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -17K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -200K | 0 |
| Other Financing | 0 | 50K | 0 | 2K | 119K | 193K | 316K | 0 | 0 | 30K | -59K | 0 | 0 | 0 | 0 | -308K | 0 | 0 | 0 | 0 | 0 | 0 | -206K | -3.22M | -1.16M | -2.83M | -1.03M | 0 | 0 | 0 |
| Net Change in Cash | 8.37M | 992K | 668K | -224K | 941K | 597K | -1.16M | -38K | 247K | -133K | -103K | 517K | 651K | -57K | -292K | 139K | -1.04M | -2.63M | 2.24M | -199K | -232K | -1.29M | -1.73M | -3.08M | -7.88M | 16.3M | -1.87M | -1.1M | -1.4M | 4.2M |
| Free Cash Flow | 4.59M | 775K | 1.49M | -1.14M | -370K | 974K | -1.25M | 54K | -13K | -500K | 304K | 1.02M | 935K | 1.63M | -722K | 1.18M | -1.6M | 165K | -4.81M | -2.31M | -4.17M | -1.27M | -3.03M | 1.41M | 127K | -2.7M | -5.52M | -3.5M | -800K | -2.8M |
| FCF Margin % | 9.08% | 1.94% | 3.37% | -2.76% | -1.1% | 2.9% | -3.7% | 0.17% | -0.04% | -1.82% | 1.19% | 3.71% | 3.61% | 6.64% | -2.16% | 3.9% | -6.3% | 0.32% | -20.23% | -11.04% | -15.43% | -15.3% | -52.95% | 14.96% | 0.21% | -3.16% | -8.46% | -12.87% | -11.27% | -37.84% |
| FCF Growth % | 492.77% | -47.92% | 230.07% | -209.19% | -137.99% | 177.92% | -2414.81% | 515.38% | 97.4% | -264.47% | -70.31% | 9.52% | -42.53% | 325.35% | -161.39% | 173.27% | -1072.73% | 103.43% | -108.27% | 44.67% | -229.36% | 58.23% | -314.8% | 1011.81% | 104.71% | 51.16% | -57.71% | -337.5% | 71.43% | - |
| FCF per Share | 0.73 | 0.13 | 0.25 | -0.20 | -0.07 | 0.23 | -0.31 | 0.02 | -0.00 | -0.19 | 0.15 | 0.71 | 0.80 | 1.46 | -1.02 | 1.70 | -2.46 | 0.28 | -11.11 | -6.80 | -14.82 | -5.43 | -16.88 | 9.06 | 0.82 | -17.44 | -46.24 | -33.83 | -8.53 | -34.40 |
| FCF Conversion (FCF/Net Income) | 1.40x | 0.56x | 0.91x | 1.01x | 0.02x | -1.10x | 1.00x | 0.75x | 0.46x | -1.00x | 1.11x | -2.50x | - | -3.11x | 0.11x | -2.02x | 0.14x | -0.07x | 0.55x | -24.84x | 1.08x | 0.51x | 7.50x | -0.19x | -0.07x | 0.20x | 4.71x | 0.67x | 0.21x | 0.61x |
| Interest Paid | 97K | 102K | 0 | 0 | 0 | 0 | 98K | 0 | 161K | 190K | 207K | 351K | 418K | 0 | 572K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 21K | 0 | 0 | 0 | 0 | 0 | 31K | -15K | 7K | 12K | 13K | 19K | 1K | 0 | 2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Regional geopolitical operational disruption
According to the 2025Q4 financial data, BOSC achieved an OCF/NI ratio of 6.16, indicating that the company is generating significantly more cash from operations than its reported net income suggests, which points to a high quality of earnings and minimal reliance on non-cash accounting accruals.
The substantial spread between net income and operating cash flow suggests that the company's reported profitability is conservative and backed by tangible cash inflows. Investors should monitor whether this high conversion ratio is a sustainable feature of the business model or a temporary benefit from favorable timing in working capital cycles.
As reported in the most recent quarterly filings, BOSC delivered a robust FCF margin of 36.4% in 2025Q4, demonstrating that the company's core operations are highly efficient at converting revenue into free cash flow after accounting for necessary capital expenditures and operational requirements.
This high margin trajectory implies that the company's capital-light service and distribution model is effectively scaling without requiring massive reinvestment. Such performance suggests that the firm is well-positioned to fund its own growth initiatives internally without needing to tap external capital markets.
Based on the 2025Q4 figures, BOSC maintained a low capital intensity with a CapEx/Revenue ratio of just 3.6%, confirming that the company's business model does not require heavy, recurring investments in fixed assets to maintain its current level of industrial and defense-related service output.
The modest level of capital expenditure relative to revenue suggests that the company is not burdened by the need to constantly replace aging machinery or infrastructure. This capital efficiency provides management with significant flexibility to allocate excess cash toward strategic opportunities or balance sheet fortification.
Data from the 2025Q4 statement reveals a working capital outflow of $794K, which suggests that the company is currently absorbing cash to support its expanding operations, likely due to inventory build-ups or extended collection cycles associated with its custom robotics and defense-linked project work.
While the cash flow remains robust, the negative working capital change warrants further investigation to determine if it reflects a strategic inventory accumulation to mitigate supply chain risks. Investors should watch for potential future pressure on cash if these working capital requirements continue to trend upward.
As indicated by the provided financial statements, the company's cash flow reporting is limited by the absence of historical data for most quarters, which obscures the long-term trend of stock-based compensation and capitalized costs that could otherwise impact the true economic reality of the firm's cash generation.
The lack of consistent quarterly reporting makes it difficult to assess the long-term impact of non-cash adjustments on the company's underlying financial health. Analysts should be cautious in extrapolating the 2025Q4 performance without a broader historical context to confirm the consistency of these cash flow drivers.
Quick answers to the most common questions about buying BOSC stock.
B.O.S. Better Online Solutions Ltd. (BOSC) generated $5.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
B.O.S. Better Online Solutions Ltd. (BOSC) generated $4.6M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
B.O.S. Better Online Solutions Ltd. (BOSC) spent $0.5M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.