Boyd Gaming

US · BYD #2136 by market cap Listed 1970

69.85 -0.56 -0.80%

Live - 5344 symbols - heartbeat 293s ago · 2026-10-08 07:00

Pre-market 69.78 -0.10%

After-hours 69.39 -0.66%

Market cap: 5.07B
P/E (TTM): 3.10
P/B: 2.03
EPS: 22.56
Div yield: 1.09%
52W pos: 19%

Reader sentiment Are you bullish or bearish on BYD?

Anonymous reader poll. Unscientific, not investment advice.

✦ Quant Financial Health how this is computed

Fair

Altman Z-Score is 2.30, in the 1.8-3.0 "grey zone".
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year +4.12% YoY

Margins

Gross margin: 49.54%
Operating margin: 21.43%
Net margin: 45.05%

Key ratios & quality

Enterprise value: 6.88B
PEG ratio: 0.07
Altman Z-Score: 2.30

PEG uses trailing P/E against the 3-year net income growth rate (42.32%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	2.63B	3.33B	2.18B	3.37B	3.56B	3.74B	3.93B	4.09B
Gross profit	1.26B	1.59B	1.14B	1.94B	1.99B	2.02B	2.05B	2.03B
Selling & admin expenses	390.00M	557.31M	452.27M	470.86M	480.58M	498.29M	538.63M	546.87M
Research & development	--	--	--	31.82M	--	--	28.57M	12.36M
Operating profit	356.28M	472.57M	188.96M	908.30M	1.02B	1.01B	938.28M	876.80M
Pretax profit	155.03M	202.13M	-171.01M	603.94M	828.81M	752.91M	752.00M	2.33B
Tax	40.33M	44.49M	-36.31M	140.09M	189.43M	132.88M	174.05M	490.77M
Net profit	115.05M	157.64M	-134.70M	463.85M	639.38M	620.02M	577.95M	1.84B
Basic EPS	1	1	-1	4	6	6	6	23
Diluted EPS	1.00	1.38	-1.19	4.07	5.87	6.12	6.19	22.56

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Revenue	991.57M	1.03B	1.00B	1.06B	997.36M	1.03B
Gross profit	504.29M	527.08M	488.18M	507.66M	492.10M	520.16M
Selling & admin expenses	136.01M	138.51M	132.59M	139.77M	138.57M	139.74M
Research & development	-1.52M	2.76M	3.97M	7.15M	20.27M	15.36M
Operating profit	232.16M	242.37M	204.89M	197.39M	163.99M	200.70M
Pretax profit	152.15M	193.11M	1.84B	142.37M	137.01M	170.56M
Tax	41.27M	42.76M	403.20M	3.54M	32.72M	40.64M
Net profit	110.88M	150.35M	1.44B	138.83M	104.29M	129.92M
Basic EPS	1	2	18	2	1	2
Diluted EPS	1.31	1.84	17.81	1.79	1.37	1.75

Balance sheet

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Total current assets	399.75M	399.49M	650.28M	507.80M	478.23M	529.32M	561.51M	530.73M
Cash & ST investments	249.42M	249.98M	519.18M	344.56M	283.47M	304.27M	316.69M	353.41M
Inventory	20.59M	22.10M	22.62M	20.09M	22.17M	20.69M	21.24M	20.19M
Total assets	5.76B	6.65B	6.56B	6.22B	6.31B	6.27B	6.39B	6.57B
Total current liabilities	469.70M	556.89M	524.02M	557.04M	586.13M	596.32M	622.69M	979.22M
Short-term debt	24.18M	114.68M	121.22M	126.56M	133.05M	143.14M	146.86M	111.84M
Long-term debt	3.96B	3.74B	3.87B	2.99B	3.01B	2.87B	3.13B	2.05B
Total liabilities	4,610,598,000.00	5,384,903,000.00	5,435,005,000.00	4,685,423,000.00	4,720,502,000.00	4,529,024,000.00	4,810,302,000.00	3,966,808,000.00
Total equity	1.15B	1.27B	1.12B	1.54B	1.59B	1.74B	1.58B	2.61B
Retained earnings	253.36M	380.94M	246.24M	710.09M	1.29B	1.74B	1.58B	2.61B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Total current assets	502.38M	540.00M	495.58M	530.73M	530.00M	482.40M
Cash & ST investments	311.50M	320.11M	319.07M	353.41M	372.72M	322.71M
Inventory	20.74M	21.65M	20.93M	20.19M	19.69M	19.08M
Total assets	6.47B	6.56B	6.51B	6.57B	6.61B	6.68B
Total current liabilities	630.33M	628.78M	963.38M	979.22M	882.96M	623.37M
Short-term debt	146.29M	149.99M	107.21M	111.84M	112.90M	119.54M
Long-term debt	3.47B	3.52B	1.89B	2.05B	2.27B	2.61B
Total liabilities	5,116,641,000.00	5,164,760,000.00	3,845,640,000.00	3,966,808,000.00	4,078,354,000.00	4,186,860,000.00
Total equity	1.35B	1.40B	2.67B	2.61B	2.53B	2.50B
Retained earnings	1.35B	1.39B	2.67B	2.61B	2.54B	2.50B

Cash flow

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	434.53M	548.99M	289.03M	1.01B	976.11M	914.52M	957.08M	976.68M
Depreciation & amortization	229.98M	276.57M	281.03M	267.79M	258.18M	256.78M	276.64M	302.71M
Free cash flow	272.98M	341.36M	114.00M	810.96M	706.96M	540.57M	556.68M	303.46M
Dividends paid	-24.73M	-28.95M	-7.81M	0	-48.16M	-63.61M	-62.66M	-58.17M
Stock buybacks / issuance	-59.57M	-28.05M	-11.12M	-80.78M	-541.64M	-412.66M	-685.85M	-778.32M
Ending cash balance	273.20M	270.45M	535.00M	357.13M	295.07M	307.93M	321.36M	358.77M

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Operating cash flow	256.39M	205.02M	239.98M	275.29M	134.34M	-23.53M
Depreciation & amortization	68.22M	69.99M	73.75M	90.75M	94.99M	91.10M
Free cash flow	86.50M	80.59M	94.42M	41.96M	-20.84M	-165.47M
Dividends paid	-14.67M	-14.75M	-14.53M	-14.23M	-13.77M	-15.04M
Stock buybacks / issuance	-328.00M	-105.00M	-160.01M	-185.32M	-155.04M	-156.02M
Ending cash balance	316.81M	326.01M	323.97M	358.77M	378.29M	328.80M

Returns & efficiency

Line item	2018	2019	2020	2021	2022	2023	2024	2025
ROE %	10.24	13.08	-11.28	34.84	40.86	37.19	34.76	87.98
ROA %	2.20	2.54	-2.04	7.26	10.20	9.85	9.13	28.43
ROIC %	5.66	6.17	0.76	10.77	13.49	13.53	12.99	36.26
5-year avg ROE %	17.10	22.05	17.80	13.11	17.55	22.94	27.27	47.13
EBIT margin %	13.68	13.22	2.73	23.84	27.57	24.72	23.65	60.78
FCF / sales %	10.39	10.26	5.23	24.07	19.88	14.46	14.16	7.42
Current ratio	0.85	0.72	1.24	0.91	0.82	0.89	0.90	0.54
Quick ratio	0.66	0.56	1.09	0.78	0.67	0.75	0.77	0.47
Debt / assets	69.13	70.58	73.74	63.18	61.74	59.39	61.50	41.24
LT debt / equity	345.20	361.92	419.56	247.34	236.61	205.41	239.29	99.67
Interest coverage	1.76	1.85	0.26	4.03	6.48	5.40	5.24	15.78
Revenue CAGR (3Y) %	6.10	14.79	-3.19	8.66	2.25	19.72	5.26	4.80
Net income CAGR (3Y) %	34.55	-27.88	--	59.16	59.48	--	7.61	42.32
FCF CAGR (3Y) %	9.37	44.91	-21.04	43.75	27.47	68.00	-11.79	-24.57

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
ROE %	35.62	36.36	87.17	87.98	94.58	93.33
ROA %	8.71	8.81	29.24	28.43	28.09	27.44
ROIC %	12.58	12.77	37.55	36.26	35.23	33.41
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	22.98	23.00	63.42	60.78	59.84	58.82
FCF / sales %	12.17	11.52	10.13	7.42	4.79	--
Current ratio	0.80	0.86	0.51	0.54	0.60	0.77
Quick ratio	0.67	0.73	0.42	0.47	0.51	0.64
Debt / assets	65.19	64.91	39.42	41.24	44.18	48.75
LT debt / equity	301.74	294.84	92.28	99.67	110.73	125.52
Interest coverage	4.96	4.85	14.49	15.78	17.81	20.34
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Lead segment, long tail

Midwest & South is the largest reported line at 53.84% of revenue, across 5 reported segments.
Las Vegas Locals follows at 21.84%, so the top line still matters most but isn’t the whole story.

Revenue breakdown most recent period

Business

Midwest & South53.84%

Las Vegas Locals21.84%

Online15.29%

Downtown Las Vegas5.04%

Managed & Other3.99%

Quote time 2026-10-08 07:00:04 · For reference only, not investment advice and not tailored to your situation.