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olivLaw · US equity research

B.O.S Better Online Solutions Ltd. BOSC

Computer Communications Equipment · SIC 3576 · Vertical: Computer Communications Equipment (SIC 3576)

4.24USD−1.40% · 1 dayClose 04 Nov 2026

BOS Better Online Solutions is an Israel-based provider that combines distribution of electromechanical components, RFID inventory management services and industrial robotics. In 2025 the company grew revenues by 26.5% to 50.5 million USD, as demand in defense and geopolitical tension supported its distribution division.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, B.O.S Better Online Solutions Ltd. (BOSC) stock was 4.24 USD (−1.40% on the day), with market capitalisation 29.8 m USD, P/E 7.4 on diluted EPS of 0.57 USD over the last 12 months, beta 0.54, 52-week range 4.11–6.58 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
29.8 m USD
shares as of 31 Dec 2025
P/E (TTM)
7.4
Diluted EPS TTM 0.57 · TTM to 31 Dec 2025
E/P (TTM)
13.44%
TTM to 31 Dec 2025
Dividend yield
unavailable
Beta (2y)
0.54
Volatility (1y) 43%
52-week range
4.116.58

Price history

Loading chart…

Technical reading

RSI (14)
39.4
weak (30–45)
Bollinger (20, 2)
4.15 – 4.52
in the lower half of the band · %B 0.24 · band width 8.4%
SMA 50 / 200
4.54 / 4.60
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.08 / -0.08
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−8.6%−2.0%−6.6 pp—
3 months−5.8%−2.2%−3.6 pp—
6 months−6.4%+4.3%−10.7 pp—
Year to date−7.0%+10.6%−17.6 pp—
1 year−35.7%+10.5%−46.1 pp+10.4%
3 years+63.1%+73.7%−10.6 pp+63.6%
5 years+21.5%+61.7%−40.2 pp—
Max drawdown (1y)
−37.5%
05 Nov 2025 → 29 May 2026
Max drawdown (5y)
−46.2%
24 Nov 2021 → 28 Dec 2022
Compound annual growth (5y)
+4.0%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 17 percentile of its own 6-quarter history (min 0.0, median 8.2, max 36.8; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue32.7 m33.8 m33.6 m33.6 m41.5 m44.2 m39.9 m50.6 m
Revenue YoY+12.9%+3.6%−0.8%+0.2%+23.4%+6.4%−9.6%+26.6%
Net income990.0 k-913.0 k-960.0 k451.0 k1.3 m2.0 m2.3 m3.6 m
Net income YoY+28.1%−192.2%unavailableunavailable+182.9%+57.1%+14.7%+57.0%
Diluted EPS3,500.00-0.23-0.220.080.230.340.390.57
Diluted EPS YoYunavailable−100.0%unavailableunavailable+187.5%+47.8%+14.7%+46.2%
net %3.0%-2.7%-2.9%1.3%3.1%4.5%5.8%7.1%
Free cash flow54.0 k-1.3 m974.0 k-370.0 k-1.1 m1.5 m775.0 k4.6 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
11.8 m USD
Financial debt
1.3 m USD
Net debt
-10.6 m USD
Equity
28.7 m USD
Total assets
44.6 m USD
Debt / equity
0.04x
Current ratio
2.70x
ROE
14.4%
ROA
9.1%
FCF margin
9.1%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
44.2 m
2024
39.9 m
2025
50.6 m

SEC (XBRL)· 31 Mar 2026verified

Cost of revenue
2023
35.0 m
2024
30.7 m
2025
38.5 m

SEC (XBRL)· 31 Mar 2026verified

Gross profit
2023
9.2 m
2024
9.3 m
2025
12.1 m

SEC (XBRL)· 31 Mar 2026verified

Research & development
2023
158.0 k
2024
175.0 k
2025
178.0 k

SEC (XBRL)· 31 Mar 2026verified

Operating income
2023
2.5 m
2024
1.4 m
2025
2.9 m

SEC (XBRL)· 31 Mar 2026verified

Depreciation & amortisation
2023
510.0 k
2024
560.0 k
2025
481.0 k

SEC (XBRL)· 31 Mar 2026verified

EBITDA
2023
3.0 m ≈
2024
2.0 m ≈
2025
3.4 m ≈

SEC (XBRL)· 31 Mar 2026derived

Interest expense
2023
402.0 k
2024
197.0 k
2025
673.0 k

SEC (XBRL)· 31 Mar 2026verified

Pre-tax income
2023
2.0 m
2024
1.3 m
2025
3.5 m

SEC (XBRL)· 31 Mar 2026verified

Income tax
2023
4.0 k
2024
-1.0 m
2025
-113.0 k

SEC (XBRL)· 31 Mar 2026verified

Net income
2023
2.0 m
2024
2.3 m
2025
3.6 m

SEC (XBRL)· 31 Mar 2026verified

Diluted EPS
2023
0.34
2024
0.39
2025
0.57

SEC (XBRL)· 31 Mar 2026verified

Weighted average diluted shares
2023
5.9 m
2024
5.9 m
2025
6.3 m

SEC (XBRL)· 31 Mar 2026verified

Balance sheet · USD

Cash
2023
2.3 m
2024
3.4 m
2025
11.8 m

SEC (XBRL)· 31 Mar 2026verified

Receivables
2023
12.4 m
2024
11.8 m
2025
15.6 m

SEC (XBRL)· 31 Mar 2026verified

Inventories
2023
6.1 m
2024
7.9 m
2025
6.5 m

SEC (XBRL)· 31 Mar 2026verified

Current assets
2023
22.0 m
2024
24.4 m
2025
35.5 m

SEC (XBRL)· 31 Mar 2026verified

Property, plant & equipment, net
2023
3.3 m
2024
3.4 m
2025
3.4 m

SEC (XBRL)· 31 Mar 2026verified

Goodwill
2023
4.9 m
2024
4.2 m
2025
3.0 m

SEC (XBRL)· 31 Mar 2026verified

Intangibles (excl. goodwill)
2023
1.1 m
2024
422.0 k
2025
361.0 k

SEC (XBRL)· 31 Mar 2026verified

Total assets
2023
32.5 m
2024
34.3 m
2025
44.6 m

SEC (XBRL)· 31 Mar 2026verified

Accounts payable
2023
—
2024
—
2025
—

SEC (XBRL)· 30 Mar 2023verified

Short-term debt
2023
170.0 k
2024
439.0 k
2025
286.0 k

SEC (XBRL)· 31 Mar 2026verified

Long-term debt
2023
1.2 m
2024
980.0 k
2025
972.0 k

SEC (XBRL)· 31 Mar 2026verified

Current liabilities
2023
10.9 m
2024
10.7 m
2025
13.2 m

SEC (XBRL)· 31 Mar 2026verified

Equity
2023
18.8 m †
2024
21.3 m †
2025
28.7 m †

SEC (XBRL)· 31 Mar 2026verified

Shares outstanding at year end
2023
—
2024
5.8 m
2025
7.0 m

SEC (XBRL)· 31 Mar 2026verified

Cash flow · USD

Operating cash flow
2023
1.8 m
2024
1.3 m
2025
5.0 m

SEC (XBRL)· 31 Mar 2026verified

Capex
2023
341.0 k
2024
519.0 k
2025
452.0 k

SEC (XBRL)· 31 Mar 2026verified

Free cash flow
2023
1.5 m ≈
2024
775.0 k ≈
2025
4.6 m ≈

SEC (XBRL)· 31 Mar 2026derived

Investing cash flow
2023
-772.0 k
2024
-519.0 k
2025
-452.0 k

SEC (XBRL)· 31 Mar 2026verified

Financing cash flow
2023
-389.0 k
2024
217.0 k
2025
3.8 m

SEC (XBRL)· 31 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
26.6%
computed by olivLawFY 2025
Revenue CAGR 3Y
6.8%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
8.6%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
102.1%
computed by olivLawFY 2025
Net income growth (YoY)
57.0%
computed by olivLawFY 2025
Net income CAGR 3Y
41.4%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
46.2%
computed by olivLawFY 2025
EPS CAGR 3Y
35.3%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
492.8%
computed by olivLawFY 2025

Profitability

Gross margin
23.9%
computed by olivLawFY 2025
EBITDA margin
6.7%
computed by olivLawFY 2025
EBIT margin
5.8%
computed by olivLawFY 2025
Net margin
7.1%
computed by olivLawFY 2025
FCF margin
9.1%
computed by olivLawFY 2025

Returns

ROE
14.4%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
9.1%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
13.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROCE
9.2%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
-10.6 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Net debt / EBITDA
-3.1x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Debt / equity
0.0x
computed by olivLawbalance sheet at 31 Dec 2025
Interest coverage
4.3x
computed by olivLawFY 2025

Liquidity

Current ratio
2.7x
computed by olivLawbalance sheet at 31 Dec 2025
Cash ratio
0.9x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
5.0 m USD
computed by olivLawFY 2025
Capital expenditure
452.0 k USD
computed by olivLawFY 2025
Free cash flow
4.6 m USD
computed by olivLawFY 2025
FCF conversion
127.2%
computed by olivLawFY 2025
Cash conversion
148.9%
computed by olivLawFY 2025

Efficiency

Days sales outstanding
99 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Days payables outstanding
unavailable
input data missing

Market and valuation

Market capitalisation
29.8 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
19.2 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Market cap / net income TTM
8.3x
computed by olivLawFY 2025
P/E (TTM)
7.4x
computed by olivLawFY 2025
Earnings yield
13.4%
computed by olivLawFY 2025
P/B
1.0x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
0.6x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
5.7x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBIT
6.6x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/Sales
0.4x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
P/FCF
6.5x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
FCF yield
15.4%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

4 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 64 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

4.24 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 29.8 m USD

Key indicators

Market capitalisation
29.8 m USD
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
7.4x
computed by olivLawFY 2025
P/B
1.0x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
5.7x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROE
14.4%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
7.1%
computed by olivLawFY 2025
Revenue growth (YoY)
26.6%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

32/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: SEC (XBRL)published 31 Mar 2026
verified 518

Score by group

  • Balance sheet100
  • Growth49
  • Valuation92
  • Quality32

Estimated value range

Low
11.86
USD per share
Mid
14.57
USD per share
High
17.42
USD per share
Price: 4.24 USD
The price is below the range
Potential to the central value: 243.7% (value / price − 1)
Margin of safety: 70.9% (1 − price / value)
Agreement between methods: high · 3 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 9.25 – 43.61 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)11.86 – 17.42 (Mid 14.02)
    WACC 9.1% · starting FCFF 5.2 m USD · terminal value share of EV 74%
    The WACC × g sensitivity gives the method's bounds; these are not probabilities.
    Reverse DCF: no growth between −30% and +40% justifies the price
  • Peers: EV/Sales9.25 – 43.61 (Mid 17.66)
    7 companies used · median multiple 2.2x · quartiles 1.1x – 5.9x
    ATEN, CSCO, DGII, EXTR, FOXX, HUBC, LTRX
  • Peers: EV/EBITDA14.46 – 14.93 (Mid 14.57)
    3 companies used · median multiple 27.1x · quartiles 26.9x – 27.8x
    ATEN, CSCO, DGII
Multiple comparisons use the SIC vertical: Computer Communications Equipment (SIC 3576)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 64/100

FactorValueScoreWeight used
Gross margin · Quality23.9%0 (on a fixed band)11%
EBIT margin · Quality5.8%67 (vs peers)9%
FCF margin · Quality9.1%36 (on a fixed band)9%
Revenue CAGR 3Y · Growth6.8%27 (on a fixed band)18%
Revenue growth (YoY) · Growth26.6%93 (vs peers)9%
Net debt / EBITDA · Balance sheet-3.1x100 (on a fixed band)7%
Current ratio · Balance sheet2.7x100 (on a fixed band)7%
EV/Sales · Valuation0.4x86 (vs peers)18%
FCF yield · Valuation15.4%100 (on a fixed band)13%
Shareholder yield (distributions) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet100/100 · 2/2 factors with a value
  • Growth49/100 · 2/2 factors with a value
  • Quality32/100 · 3/3 factors with a value
  • Returns· partialunavailable · 0/1 factors with a value
  • Valuation92/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

BOS BETTER ONLINE SOLUTIONS LTD (BOSC). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 50.6 m USD in 2025; YoY growth 26.6%; net margin 7.1%; ROE 14.4%; net debt/EBITDA -3.1x.

The estimated value range is 11.86–17.42 USD per share (median of 3 methods, agreement: high); assumptions are illustrative. Against the central value of 14.57 USD, the price of 4.24 USD leaves a potential of 243.7% (value / price − 1) and a margin of safety of 70.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 64/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue growth (YoY): 26.6%
  • Net debt / EBITDA: -3.1x
  • Current ratio: 2.7x
  • EV/Sales: 0.4x
  • FCF yield: 15.4%
  • The price is below the estimated value range

What contradicts it

  • Gross margin: 23.9%
  • Revenue CAGR 3Y: 6.8%

Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions).

Versus the vertical median

Computer Communications Equipment (SIC 3576) · same industry (4-digit SIC) · compared with 15 companies

Multiples and returns vs the median

P/E
7.4x
vertical median 53.6x
below median (−86.1%)
EV/EBITDA
5.7x
vertical median 27.1x
below median (−79.1%)
P/S
0.6x
vertical median 2.9x
below median (−79.9%)
P/B
1.0x
vertical median 4.0x
below median (−74.2%)
ROE
14.4%
vertical median 4.5%
above median (+217.8%)
Net margin
7.1%
vertical median -3.5%
above median
EBIT margin
5.8%
vertical median -3.4%
above median
Revenue YoY
26.6%
vertical median 9.7%
above median (+175.3%)
Net debt/EBITDA
-3.1x
vertical median 1.4x
below median (−324.5%)
Dividend yield
—
vertical median 1.4%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
CSCOCisco Systems, Inc.406.0 bn30.927.3%21.0%+11.8%+34% / +113%
ANETArista Networks, Inc.214.3 bn53.631.5%38.4%+28.6%+30% / +209%
FFIVF5, Inc.18.8 bn26.419.8%22.0%+9.7%+38% / +93%
EXTRExtreme Networks, Inc.3.0 bn58.067.1%4.0%+12.6%+31% / +42%
DGIIDigi International Inc.2.8 bn57.57.5%9.6%+1.5%+74% / +208%
ATENA10 Networks, Inc.1.7 bn40.019.4%13.9%+11.0%+38% / +91%
NTGRNETGEAR, Inc.606.6 m—-5.3%-3.7%+3.8%−16% / +64%
ALLTAllot Ltd.421.3 m108.34.5%3.6%+10.6%−10% / +541%
LTRXLantronix, Inc.263.9 m—-4.3%-3.5%−1.6%+10% / 0%
SILCSilicom Ltd.181.2 m—-9.4%-18.5%+6.6%+112% / +95%
BOSCBos Better Online Solutions Ltd29.8 m7.414.4%7.1%+26.6%−36% / +63%
CIITTianci International, Inc.16.5 m—-59.1%-14.7%+7.7%−93% / −96%
FOXXFoxx Development Holdings Inc.13.3 m——-100.2%−20.2%−58% / −83%
INTZIntrusion Inc.11.9 m—-140.9%-194.0%+21.6%−66% / −93%
WLDSWearable Devices Ltd.4.2 m—-72.3%-1,253.0%+23.9%−92% / −100%
HUBCHUB Cyber Security Ltd.3.4 m——-134.5%−30.7%−100% / −100%

1- and 3-year price returns: for BOSC from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
2.31
Total return -45% · Per year -45%
4.08
Total return -4% · Per year -4%
6.14
Total return 45% · Per year 45%
3 years
2.35
Total return -45% · Per year -18%
4.66
Total return 10% · Per year 3%
7.68
Total return 81% · Per year 22%
5 years
2.39
Total return -44% · Per year -11%
5.31
Total return 25% · Per year 5%
9.60
Total return 126% · Per year 18%
What moves the 3-year price the most
  • Exit P/E± 1.16
  • Net margin± 0.81
  • Annual revenue growth± 0.65
  • Annual dilution± 0.07

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 31 Mar 2026; since then the company filed 6-K (20 Oct 2026), 6-K (30 Sept 2026), 6-K (20 Aug 2026), 6-K (17 Jul 2026), 6-K (28 May 2026).

In brief

BOS Better Online Solutions is an Israel-based provider that combines distribution of electromechanical components, RFID inventory management services and industrial robotics. In 2025 the company grew revenues by 26.5% to 50.5 million USD 1, as demand in defense and geopolitical tension supported its distribution division.

SWOT

Strengths

  • The company has long-standing relationships with global manufacturers and defense customers, which generate recurring orders once products move into production 1.
  • Revenue growth in 2025 and positive operating cash flow point to a firmer financial base than in earlier years 1.
  • The portfolio spans three complementary divisions, from components to automation, allowing integrated solutions for clients 1.

Weaknesses

  • Reliance on a small number of suppliers and on a single manufacturer for a significant share of purchases exposes the company to supply risks 1.
  • The RFID division has declined in recent years and required impairments of intangible assets and goodwill, pointing to performance weaknesses 1.
  • The geographic concentration in Israel makes results sensitive to political and economic developments in that country 1.

Opportunities

  • Defense demand and industrial automation could open new contracts for the robotics and distribution divisions 1.
  • Expanding inventory management systems in retail and logistics could renew demand for the RFID division if the market stabilizes 1.
  • Access to capital markets through the at-the-market share sales program could fund growth if the company uses it 1.

Threats

  • Military conflict and political instability in the region can directly affect commercial activity and delivery chains 1.
  • Fluctuations in the exchange rate can affect reported results, since part of costs and revenues is linked to the dollar and the shekel 1.
  • Larger competitors with superior financial and technological resources could reduce margins through more aggressive pricing 1.

Risks

  • Geographic concentrationhigh

    A very large majority of sales come from Israel, so a deterioration in the local political or economic situation could quickly affect results 1.

  • Supplier dependencehigh

    A small group of suppliers accounts for most purchases of the Supply Chain division, and an interruption of a representation agreement could affect revenues 1.

  • Decline of the RFID divisionmedium

    The RFID division recorded a cumulative decline and asset impairments, which raises questions about its medium-term recovery 1.

  • Currency riskmedium

    Exposure to the shekel-dollar rate can produce currency gains or losses that materially change net results from one year to the next 1.

  • Dilution from share saleslow

    The at-the-market share sales program could dilute existing shareholders if the company uses it extensively 1.

Investment thesis

What would need to be true (bull case)

  • If defense demand and industrial automation remain strong, the revenue growth of 2025 could continue, and margins in the Supply Chain division could stay high 1.
  • The balance sheet has improved, with positive operating cash flow and higher working capital, giving the company more flexibility for investment 1.
  • A portfolio spread across three divisions could reduce dependence on a single business line if demand in each segment develops differently 1.

What would break the thesis

  • If regional conflicts widen, commercial activity in Israel could decline and revenues could return to the weaker levels of earlier years 1.
  • The gross margin of the RFID division fell in 2025, and without operational correction the pressure on profitability could persist 1.
  • Dependence on a few suppliers and competition from much larger distributors could limit the company's bargaining power 1.

What to watch

  • Revenue trend of the RFID division and its gross margin after operational measuresQ1 2027
  • Share of sales from Israel and the impact of regional conflicts on demand2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 31 Mar 2026; since then the company filed 6-K (20 Oct 2026), 6-K (30 Sept 2026), 6-K (20 Aug 2026), 6-K (17 Jul 2026), 6-K (28 May 2026).

The business

BOS integrates technologies to optimize supply chain operations through three divisions: Supply Chain Solutions, RFID and Intelligent Robotics 1. The company acts as a distributor for global manufacturers and sells its solutions directly to clients in industry, defense and retail, with a strong focus on the Israeli market. Its shares are listed on the Nasdaq Capital Market under the symbol BOSC 1.

Segments

Supply Chain Solutions

The division represents and distributes electromechanical components of global manufacturers, mainly for the defense and Hi-Tech industries, and generates most of the revenue, at 70% of the total in 2025 1.

RFID

The division optimizes inventory management through RFID tags, AIDC equipment, proprietary software and inventory counting services, with clients in retail and logistics; it contributed 27% of revenues in 2025 1.

Market context

The company operates mainly in the Israeli market, which accounted for 91% of 2025 sales 1. Demand from defense and the electronics industry has grown in recent years, but the RFID market is competitive, with rapidly changing technologies and standards 1.

Suppliers of supply chain equipment and services compete on price, delivery time and the ability to integrate solutions. BOS revenues depend on the capital expenditure budgets of its customers, which can be influenced by macroeconomic conditions 1.

Trends

  • Higher defense-related demandtailwind

    Geopolitical tension in Israel and Europe raised demand for the distribution division's products, whose revenues grew by 37.6% 1. If these tensions persist, defense demand could continue to support revenues.

  • Regional conflict pressure on RFIDheadwind

    Political and military conflict in Israel affected the commercial market, the main revenue base of the RFID division, which recorded a cumulative revenue decline of 12% between 2022 and 2025 1.

  • Inflation and component costsmixed

    Increases in component prices and wages raised costs, which the company partly passes on in its price list. Delays in the global component supply chain may lengthen delivery times 1.

  • Currency effectmixed

    The appreciation of the shekel against the dollar produced currency gains in 2025, but it also increased operating expenses measured in dollars, so results can be affected by exchange rate swings 1.

Competitive position

In component distribution, BOS competes with Israeli distributors such as Telsys and STG International, as well as large international distributors such as Arrow Electronics, Avnet and Future Electronics 1. Competition is intense, and these firms have greater financial resources.

In RFID and robotics, the main competitors are smaller Israeli firms such as eWave mobile, Dangot, Dannet, GBM Automation and Automatica 1. The RFID market is expanding, and the number of competitors grows with it 1.

  • Telsys Ltd.

    Israeli electronic components distributor, cited as a competitor in the Supply Chain division.

  • Arrow Electronics International

    International component distributor, cited as a competitor in international markets.

  • Avnet Electronics Marketing

    Global electronic components distributor, cited as a competitor in international markets.

  • eWave mobile Ltd.

    Israeli RFID firm, cited as a main competitor of the RFID division.

News & filings

Sources

  1. [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / B.O.S Better Online Solutions Ltd. · 31 Mar 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.