Disclosed is a foamed cementitious composition which limits or eliminates aggregate, especially porous lightweight aggregate and uses a lower than usual water to cementitious composition weight ratio. The stable cementitious foam mixtures may be employed to make cement boards and other cement products. The foamed cementitious composition was made with additions of PVOH foaming stabilizer and surfactant foaming agents to make foam water or by entrain air into cementitious slurry mixtures. The cementitious mixtures have a limited amount or preferably no perlite and no lightweight aggregate. The resulting foamed mixture had foam bubbles with size in the range of 50 to 200 μm. After setting the foamed cementitious composition the resulting set board has air cells with size in the range of 50 to 200 μm.