BOC vs. NVO

Last updated Jul 21, 2026

BOC (Boston Omaha Corp) and NVO (Novo Nordisk A/S) are both stocks. BOC operates in Advertising Agencies (Communication Services), while NVO operates in Drug Manufacturers - General (Healthcare). Over the past 5 years, BOC returned -15.31%/yr vs 4.43%/yr for NVO. At a 0.11 correlation, their price movements are largely independent.

Performance

BOC vs. NVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boston Omaha Corp (BOC) and Novo Nordisk A/S (NVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOC achieves a 13.66% return, which is significantly higher than NVO's 0.91% return.

BOC

• 1D: -0.57%
• 1M: 7.00%
• 6M: 14.59%
• YTD: 13.66%
• 1Y: 3.76%
• 3Y*: -9.83%
• 5Y*: -15.31%
• 10Y*: —
• ALL TIME*: 0.87%

NVO

• 1D: -1.41%
• 1M: 14.86%
• 6M: -17.63%
• YTD: 0.91%
• 1Y: -19.26%
• 3Y*: -13.51%
• 5Y*: 4.43%
• 10Y*: 8.18%
• ALL TIME*: 14.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BOC vs. NVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOC Boston Omaha Corp	13.66%	-12.76%	-9.85%	-40.64%	-7.76%	3.91%	31.42%	-10.09%	-27.76%	149.15%
NVO Novo Nordisk A/S	0.91%	-39.22%	-15.93%	54.84%	22.66%	63.52%	23.33%	28.70%	-12.98%	26.93%

Correlation

The correlation between BOC and NVO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 16, 2017	0.11

Fundamentals

Market Cap BOC : $424.82M NVO : $220.46B
EPS BOC : -$0.45 NVO : DKK 27.42
PS Ratio BOC : 3.82 NVO : 4.40
PB Ratio BOC : 0.85 NVO : 7.11
Total Revenue (TTM) BOC : $114.89M NVO : DKK 327.80B
Gross Profit (TTM) BOC : $105.55M NVO : DKK 268.30B
EBITDA (TTM) BOC : $2.48M NVO : DKK 181.54B

Return for Risk

BOC vs. NVO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BOC

BOC Risk / Return Rank: 48
BOC Sharpe Ratio Rank: 50
BOC Sortino Ratio Rank: 45
BOC Omega Ratio Rank: 45
BOC Calmar Ratio Rank: 50
BOC Martin Ratio Rank: 51

NVO

NVO Risk / Return Rank: 30
NVO Sharpe Ratio Rank: 29
NVO Sortino Ratio Rank: 29
NVO Omega Ratio Rank: 29
NVO Calmar Ratio Rank: 32
NVO Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BOC vs. NVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boston Omaha Corp (BOC) and Novo Nordisk A/S (NVO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BOC	NVO	Difference
Sharpe ratio: Return per unit of total volatility	0.11	-0.37	+0.49
Sortino ratio: Return per unit of downside risk	0.43	-0.19	+0.62
Omega ratio: Gain probability vs. loss probability	1.05	0.97	+0.08
Calmar ratio: Return relative to maximum drawdown	0.18	-0.39	+0.57
Martin ratio: Return relative to average drawdown	0.38	-0.61	+0.99

BOC vs. NVO - Sharpe Ratio Comparison

The current BOC Sharpe Ratio is 0.11, which is higher than the NVO Sharpe Ratio of -0.37. The chart below compares the historical Sharpe Ratios of BOC and NVO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BOC vs. NVO - Drawdown Comparison

The maximum BOC drawdown since its inception was -76.58%, roughly equal to the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for BOC and NVO.

Drawdown Indicators

	BOC	NVO	Difference
Max Drawdown Largest peak-to-trough decline	-76.58%	-74.70%	-1.88%
Max Drawdown (1Y) Largest decline over 1 year	-21.45%	-49.17%	+27.72%
Max Drawdown (3Y) Largest decline over 3 years	-43.34%	-74.70%	+31.36%
Max Drawdown (5Y) Largest decline over 5 years	-74.13%	-74.70%	+0.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-74.70%	—
Current Drawdown Current decline from peak	-70.23%	-63.95%	-6.28%
Average Drawdown Average peak-to-trough decline	-46.36%	-17.89%	-28.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.87%	31.75%	-21.88%

Volatility

BOC vs. NVO - Volatility Comparison

Boston Omaha Corp (BOC) has a higher volatility of 11.62% compared to Novo Nordisk A/S (NVO) at 9.48%. This indicates that BOC's price experiences larger fluctuations and is considered to be riskier than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOC	NVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.62%	9.48%	+2.14%
Volatility (6M) Calculated over the trailing 6-month period	24.25%	37.43%	-13.18%
Volatility (1Y) Calculated over the trailing 1-year period	34.07%	51.79%	-17.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.28%	38.58%	-3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.79%	32.63%	+10.16%

Dividends

BOC vs. NVO - Dividend Comparison

BOC has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 3.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOC Boston Omaha Corp	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NVO Novo Nordisk A/S	3.63%	3.31%	1.68%	1.00%	1.20%	1.35%	1.87%	2.14%	1.45%	1.52%	2.87%	0.92%

Financials

BOC vs. NVO - Profitability Comparison

The chart below illustrates the profitability comparison between Boston Omaha Corp and Novo Nordisk A/S over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Portfolio components

BOC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Boston Omaha Corp reported a gross profit of 24.76M and revenue of 28.25M. Therefore, the gross margin over that period was 87.7%.

NVO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported a gross profit of 83.23B and revenue of 96.82B. Therefore, the gross margin over that period was 86.0%.

BOC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Boston Omaha Corp reported an operating income of -2.19M and revenue of 28.25M, resulting in an operating margin of -7.8%.

NVO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported an operating income of 59.62B and revenue of 96.82B, resulting in an operating margin of 61.6%.

BOC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Boston Omaha Corp reported a net income of -2.15M and revenue of 28.25M, resulting in a net margin of -7.6%.

NVO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported a net income of 48.56B and revenue of 96.82B, resulting in a net margin of 50.2%.

Frequently Asked Questions

Can I hold both BOC and NVO in my portfolio?

BOC and NVO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOC or NVO?

BOC has higher volatility (11.62%) compared to NVO (9.48%). In terms of maximum drawdown, BOC dropped -76.58% vs NVO's -74.70%.

Which has better risk-adjusted returns?

BOC currently has the higher Sharpe Ratio (0.11 vs -0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.