Boyd Gaming Corporation (BYD) Financial Ratios
31 years of historical data (1995–2025) · Consumer Cyclical · Gambling, Resorts & Casinos
EV/EBITDA
↓
7.91
-7% vs avg
5yr avg: 8.52
30Y Low4.5·High31.1
P/FCF
↑
16.51
↑+39% vs avg
5yr avg: 11.89
30Y Low2.9·High42.7
P/B Ratio
↓
2.67
↓-30% vs avg
5yr avg: 3.84
30Y Low0.4·High4.9
ROE
↑
88.0%
↓+87% vs avg
5yr avg: 47.1%
30Y Low-99%·High88%
Debt/EBITDA
↓
2.77
↓-12% vs avg
5yr avg: 3.15
30Y Low2.8·High16.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BYD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Boyd Gaming Corporation trades at 3.8x earnings, 63% below its 5-year average of 10.2x, sitting at the 4th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.6x, the stock trades at a discount of 81%. On a free-cash-flow basis, the stock trades at 16.5x P/FCF, 39% above the 5-year average of 11.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.4B | $7.0B | $6.8B | $6.3B | $5.9B | $7.5B | $4.9B | $3.4B | $2.4B | $4.1B | $2.3B |
| Enterprise Value | $9.3B | $9.9B | $10.4B | $9.8B | $9.6B | $11.1B | $9.2B | $7.9B | $6.1B | $6.9B | $5.4B |
| P/E Ratio → | 3.77 | 3.78 | 11.72 | 10.23 | 9.29 | 16.11 | — | 21.70 | 20.78 | 21.37 | 5.56 |
| P/S Ratio | 1.57 | 1.70 | 1.72 | 1.70 | 1.67 | 2.22 | 2.24 | 1.03 | 0.91 | 1.69 | 1.06 |
| P/B Ratio | 2.67 | 2.67 | 4.28 | 3.64 | 3.74 | 4.86 | 4.33 | 2.70 | 2.09 | 3.69 | 2.49 |
| P/FCF | 16.51 | 17.93 | 12.16 | 11.74 | 8.41 | 9.23 | 42.74 | 9.99 | 8.76 | 17.50 | 20.25 |
| P/OCF | 6.57 | 7.13 | 7.08 | 6.94 | 6.09 | 7.40 | 16.86 | 6.21 | 5.50 | 9.60 | 8.45 |
P/E links to full P/E history page with 30-year chart
BYD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Boyd Gaming Corporation's enterprise value stands at 7.9x EBITDA, 7% below its 5-year average of 8.5x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 30% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.41 | 2.64 | 2.61 | 2.69 | 3.28 | 4.22 | 2.36 | 2.33 | 2.88 | 2.44 |
| EV / EBITDA | 7.91 | 8.37 | 8.62 | 8.43 | 7.71 | 9.48 | 31.12 | 10.49 | 10.46 | 12.34 | 11.74 |
| EV / EBIT | 10.63 | 3.97 | 11.17 | 10.57 | 9.75 | 13.78 | 154.53 | 17.87 | 17.04 | 20.12 | 24.31 |
| EV / FCF | — | 25.43 | 18.66 | 18.07 | 13.52 | 13.65 | 80.61 | 23.01 | 22.42 | 29.91 | 46.71 |
BYD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Boyd Gaming Corporation earns an operating margin of 21.4%, significantly above the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from 24.1% to 21.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 88.0% is exceptionally high — well above the sector median of 5.6%. ROIC of 12.3% represents solid returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.1% | 42.1% | 52.2% | 54.0% | 56.0% | 57.5% | 52.4% | 47.8% | 47.8% | 47.4% | 46.0% |
| Operating Margin | 21.4% | 21.4% | 23.6% | 24.1% | 27.6% | 26.7% | 0.7% | 14.2% | 13.5% | 14.3% | 11.8% |
| Net Profit Margin | 45.0% | 45.0% | 14.7% | 16.6% | 18.0% | 13.8% | -6.2% | 4.7% | 4.4% | 7.9% | 19.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 88.0% | 88.0% | 34.8% | 37.2% | 40.9% | 34.8% | -11.3% | 13.1% | 10.3% | 18.6% | 58.0% |
| ROA | 27.8% | 27.8% | 9.1% | 9.9% | 10.2% | 7.3% | -2.0% | 2.5% | 2.2% | 4.0% | 9.3% |
| ROIC | 12.3% | 12.3% | 13.4% | 13.0% | 14.2% | 12.8% | 0.2% | 6.7% | 6.0% | 6.5% | 5.1% |
| ROCE | 15.1% | 15.1% | 16.2% | 15.8% | 17.2% | 15.4% | 0.2% | 8.3% | 7.4% | 8.0% | 6.3% |
BYD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Boyd Gaming Corporation carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (37% below the sector average of 4.4x). Net debt stands at $2.9B ($3.3B total debt minus $353M cash). Interest coverage of 15.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.25 | 1.25 | 2.49 | 2.14 | 2.45 | 2.56 | 4.30 | 3.71 | 3.47 | 2.80 | 3.46 |
| Debt / EBITDA | 2.77 | 2.77 | 3.26 | 3.22 | 3.14 | 3.37 | 16.38 | 6.27 | 6.80 | 5.48 | 7.07 |
| Net Debt / Equity | — | 1.12 | 2.29 | 1.96 | 2.27 | 2.33 | 3.84 | 3.51 | 3.26 | 2.62 | 3.25 |
| Net Debt / EBITDA | 2.47 | 2.47 | 3.00 | 2.95 | 2.92 | 3.07 | 14.62 | 5.93 | 6.37 | 5.12 | 6.65 |
| Debt / FCF | — | 7.50 | 6.49 | 6.33 | 5.11 | 4.42 | 37.87 | 13.02 | 13.66 | 12.41 | 26.46 |
| Interest Coverage | 15.78 | 15.78 | 5.24 | 5.40 | 6.48 | 4.03 | 0.26 | 1.85 | 1.76 | 1.99 | 1.04 |
BYD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.54x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.89x to 0.54x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.54 | 0.54 | 0.90 | 0.89 | 0.82 | 0.91 | 1.24 | 0.72 | 0.85 | 0.85 | 0.84 |
| Quick Ratio | 0.52 | 0.52 | 0.87 | 0.85 | 0.78 | 0.88 | 1.20 | 0.68 | 0.81 | 0.81 | 0.79 |
| Cash Ratio | 0.36 | 0.36 | 0.51 | 0.51 | 0.48 | 0.62 | 0.99 | 0.45 | 0.53 | 0.53 | 0.53 |
| Asset Turnover | — | 0.60 | 0.61 | 0.60 | 0.56 | 0.54 | 0.33 | 0.50 | 0.46 | 0.51 | 0.47 |
| Inventory Turnover | 117.27 | 117.27 | 88.55 | 83.12 | 70.59 | 71.30 | 45.86 | 78.56 | 66.60 | 70.20 | 63.93 |
| Days Sales Outstanding | — | 7.52 | 15.07 | 13.81 | 11.46 | 9.69 | 8.96 | 6.64 | 8.36 | 6.92 | 5.45 |
BYD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Boyd Gaming Corporation returns 13.0% to shareholders annually — split between a 0.8% dividend yield and 12.1% buyback yield. The payout ratio of 3.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 26.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.8% | 0.9% | 1.0% | 0.8% | — | 0.2% | 0.8% | 1.0% | 0.3% | — |
| Payout Ratio | 3.2% | 3.2% | 10.8% | 10.3% | 7.5% | — | — | 18.4% | 21.5% | 6.0% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 26.5% | 26.5% | 8.5% | 9.8% | 10.8% | 6.2% | — | 4.6% | 4.8% | 4.7% | 18.0% |
| FCF Yield | 6.1% | 5.6% | 8.2% | 8.5% | 11.9% | 10.8% | 2.3% | 10.0% | 11.4% | 5.7% | 4.9% |
| Buyback Yield | 12.1% | 11.2% | 10.1% | 6.5% | 9.1% | 1.1% | 0.2% | 0.8% | 2.5% | 0.8% | 0.0% |
| Total Shareholder Yield | 13.0% | 12.0% | 11.1% | 7.5% | 9.9% | 1.1% | 0.4% | 1.7% | 3.5% | 1.1% | 0.0% |
| Shares Outstanding | — | $82M | $93M | $101M | $109M | $114M | $114M | $114M | $115M | $116M | $115M |
Peer Comparison
Compare BYD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BYDYou | $6B | 3.8 | 7.9 | 16.5 | 42.1% | 21.4% | 88.0% | 12.3% | 2.8 |
 CZR | $6B | -11.5 | 8.9 | 10.9 | 37.7% | 18.1% | -12.5% | 5.4% | 7.5 |
 MGM | $10B | 50.3 | 31.6 | 5.9 | 44.4% | 5.7% | 5.9% | 1.7% | 27.8 |
 PEN | $13B | 71.7 | 61.8 | 72.9 | 67.1% | 13.5% | 13.8% | 11.3% | 1.1 |
 PENN | $2B | -2.9 | 13.8 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 RRR | $3B | 17.0 | 3.8 | 10.8 | 52.6% | 29.7% | 58.9% | 23.4% | 0.1 |
 MCRI | $2B | 21.7 | 10.6 | 16.4 | 45.1% | 25.1% | 19.2% | 21.8% | 0.1 |
 WYNN | $11B | 34.3 | 12.4 | 16.2 | 32.7% | 16.2% | — | 9.3% | 6.9 |
 LVS | $35B | 22.6 | 10.3 | 21.4 | 28.2% | 23.7% | 63.9% | 16.9% | 3.5 |
 MLCO | $2B | 12.1 | 7.2 | 4.7 | 36.7% | 11.6% | — | 8.6% | 6.2 |
 CHDN | $6B | 17.3 | 11.6 | 13.0 | 33.6% | 25.2% | 35.2% | 9.4% | 5.3 |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 15.0 | 36.9% | 2.9% | 5.6% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonBYD — Frequently Asked Questions
Quick answers to the most common questions about buying BYD stock.
What is Boyd Gaming Corporation's P/E ratio?
Boyd Gaming Corporation's current P/E ratio is 3.8x. The historical average is 27.1x. This places it at the 4th percentile of its historical range.
What is Boyd Gaming Corporation's EV/EBITDA?
Boyd Gaming Corporation's current EV/EBITDA is 7.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
What is Boyd Gaming Corporation's ROE?
Boyd Gaming Corporation's return on equity (ROE) is 88.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 12.3%.
Is BYD stock overvalued?
Based on historical data, Boyd Gaming Corporation is trading at a P/E of 3.8x. This is at the 4th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Boyd Gaming Corporation's dividend yield?
Boyd Gaming Corporation's current dividend yield is 0.84% with a payout ratio of 3.2%.
What are Boyd Gaming Corporation's profit margins?
Boyd Gaming Corporation has 42.1% gross margin and 21.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Boyd Gaming Corporation have?
Boyd Gaming Corporation's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.