NYSE : BYD
Boyd Gaming Corporation — Financial statements
Consumer Discretionary · Resorts & Casinos · United States
Last price 72.83 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 5.15B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Boyd Gaming Corporation (BYD) reported revenue of 4.08B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 3.94B | 3.95B | 3.79B | 3.60B | 3.42B | 3.26B |
| Other Revenue | 145.60M | 145.12M | 143.50M | 138.54M | 134.79M | 107.54M |
| Revenue | 4.08B | 4.09B | 3.93B | 3.74B | 3.56B | 3.37B |
| Cost of Revenue | 1.66B | 1.66B | 1.50B | 1.35B | 1.19B | 1.02B |
| Gross Profit | 2.42B | 2.43B | 2.43B | 2.39B | 2.37B | 2.35B |
| Selling, General & Admin | 677.77M | 668.73M | 652.57M | 614.25M | 597.59M | 588.53M |
| Other Operating Expenses | 569.25M | 553.10M | 529.70M | 525.16M | 519.98M | 582.89M |
| Operating Expenses | 1.62B | 1.52B | 1.46B | 1.40B | 1.38B | 1.44B |
| Operating Income | 808.62M | 904.55M | 972.23M | 989.57M | 994.50M | 908.30M |
| Interest Expense | -119.03M | -157.64M | -177.41M | -171.25M | -151.25M | -199.44M |
| Interest & Investment Income | 5.66M | 4.83M | 1.62M | 23.89M | 21.53M | 1.82M |
| Other Non Operating Income (Expenses) | 14.00K | -12.47M | 10.00K | -1.56M | -2.88M | -3.39M |
| EBT Excluding Unusual Items | 695.27M | 739.26M | 796.46M | 840.64M | 861.90M | 707.29M |
| Merger & Restructuring Charges | -100.00K | -5.50M | ||||
| Impairment of Goodwill | -86.54M | -31.60M | ||||
| Gain (Loss) on Sale of Investments | 1.75B | |||||
| Gain (Loss) on Sale of Assets | 20.90M | |||||
| Asset Writedown | -34.50M | -133.09M | -21.20M | -21.30M | -9.18M | -8.20M |
| Legal Settlements | -5.38M | |||||
| Other Unusual Items | -69.48M | -27.03M | -17.77M | 20.10M | 585.00K | -95.16M |
| Pretax Income | 612.23M | 2.33B | 752.00M | 752.91M | 828.81M | 603.94M |
| Income Tax Expense | 115.59M | 490.77M | 174.05M | 132.88M | 189.43M | 140.09M |
| Earnings From Continuing Operations | 496.64M | 1.84B | 577.95M | 620.02M | 639.38M | 463.85M |
| Net Income to Company | 496.64M | 1.84B | 577.95M | 620.02M | 639.38M | 463.85M |
| Minority Interest in Earnings | 5.48M | 4.37M | ||||
| Net Income | 502.11M | 1.84B | 577.95M | 620.02M | 639.38M | 463.85M |
| Net Income to Common | 502.11M | 1.84B | 577.95M | 620.02M | 639.38M | 463.85M |
| Shares Outstanding (Basic) | 75.79M | 81.70M | 93.31M | 101.33M | 108.89M | 113.87M |
| Shares Outstanding (Diluted) | 75.80M | 81.72M | 93.35M | 101.37M | 109.00M | 114.10M |
| EPS (Basic) | 6.62 | 22.56 | 6.19 | 6.12 | 5.87 | 4.07 |
| EPS (Diluted) | 6.62 | 22.56 | 6.19 | 6.12 | 5.87 | 4.07 |
| Free Cash Flow | -15.65M | 388.46M | 556.67M | 540.57M | 706.96M | 810.96M |
| Free Cash Flow Per Share | -0.21 | 4.75 | 5.96 | 5.33 | 6.49 | 7.11 |
| Dividend Per Share | 0.78 | 0.72 | 0.68 | 0.64 | 0.60 | |
| Gross Margin | 59.34% | 59.36% | 61.86% | 63.82% | 66.67% | 69.66% |
| Operating Margin | 19.80% | 22.11% | 24.74% | 26.47% | 27.97% | 26.95% |
| Profit Margin | 12.29% | 45.05% | 14.70% | 16.59% | 17.98% | 13.76% |
| Free Cash Flow Margin | -0.38% | 9.49% | 14.16% | 14.46% | 19.88% | 24.07% |
| EBITDA | 1.17B | 1.20B | 1.24B | 1.24B | 1.25B | 1.18B |
| EBITDA Margin | 28.66% | 29.35% | 31.66% | 33.23% | 35.22% | 34.90% |
| D&A For EBITDA | 361.80M | 296.40M | 272.08M | 252.90M | 257.58M | 267.79M |
| EBIT | 808.62M | 904.55M | 972.23M | 989.57M | 994.50M | 908.30M |
| EBIT Margin | 19.80% | 22.11% | 24.74% | 26.47% | 27.97% | 26.95% |
| Effective Tax Rate | 18.88% | 21.07% | 23.14% | 17.65% | 22.86% | 23.20% |
| Revenue as Reported | 4.08B | 4.09B | 3.93B | 3.74B | 3.56B | 3.37B |
| Advertising Expenses | 27.60M | 26.90M | 22.40M | 18.70M | 16.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 297.18M | 353.41M | 316.69M | 304.27M | 283.47M | 344.56M |
| Short-Term Investments | 900.00K | 800.00K | 800.00K | 700.00K | 700.00K | 600.00K |
| Cash & Short-Term Investments | 298.08M | 354.21M | 317.49M | 304.97M | 284.17M | 345.16M |
| Accounts Receivable | 86.48M | 84.35M | 132.27M | 137.89M | 109.05M | 89.48M |
| Other Receivables | 21.94M | 30.00M | 3.51M | 2.56M | ||
| Receivables | 86.48M | 106.29M | 162.28M | 141.40M | 111.61M | 89.48M |
| Inventory | 19.13M | 20.19M | 21.23M | 20.69M | 22.17M | 20.09M |
| Prepaid Expenses | 58.44M | 44.68M | 55.83M | 58.59M | 48.68M | 40.50M |
| Restricted Cash | 6.88M | 5.35M | 4.68M | 3.66M | 11.59M | 12.57M |
| Total Current Assets | 469.02M | 530.73M | 561.51M | 529.32M | 478.23M | 507.80M |
| Property, Plant & Equipment | 3.63B | 3.52B | 3.41B | 3.34B | 3.22B | 3.28B |
| Long-Term Investments | 10.60M | 11.50M | 11.80M | 12.60M | 13.00M | 15.20M |
| Goodwill | 990.06M | 957.98M | 957.89M | 953.48M | 1.03B | 971.29M |
| Other Intangible Assets | 1.49B | 1.47B | 1.39B | 1.39B | 1.43B | 1.37B |
| Other Long-Term Assets | 79.22M | 81.96M | 54.72M | 55.18M | 134.44M | 83.03M |
| Total Assets | 6.66B | 6.57B | 6.39B | 6.27B | 6.31B | 6.22B |
| Accounts Payable | 144.38M | 151.29M | 131.26M | 124.67M | 129.95M | 102.03M |
| Accrued Expenses | 292.05M | 658.95M | 285.78M | 265.48M | 253.31M | 276.90M |
| Current Portion of Long-Term Debt | 800.90M | 44.01M | 44.27M | 44.27M | 41.67M | |
| Current Portion of Leases | 120.06M | 111.84M | 102.86M | 98.87M | 88.78M | 84.88M |
| Current Income Taxes Payable | 18.74M | 393.00K | ||||
| Current Unearned Revenue | 36.42M | 37.93M | 36.32M | 39.36M | 46.64M | 43.75M |
| Other Current Liabilities | 19.22M | 19.21M | 22.45M | 23.67M | 23.18M | 7.41M |
| Total Current Liabilities | 1.43B | 979.22M | 622.68M | 596.32M | 586.13M | 557.04M |
| Long-Term Debt | 1.87B | 2.05B | 3.13B | 2.87B | 3.00B | 2.99B |
| Long-Term Leases | 492.13M | 554.25M | 651.76M | 711.89M | 759.11M | 815.97M |
| Long-Term Deferred Tax Liabilities | 357.95M | 323.47M | 346.92M | 288.83M | 318.61M | 264.91M |
| Other Long-Term Liabilities | 61.15M | 64.30M | 56.37M | 61.27M | 52.19M | 57.57M |
| Total Liabilities | 4.22B | 3.97B | 4.81B | 4.53B | 4.72B | 4.69B |
| Common Stock | 712.00K | 764.00K | 862.00K | 968.00K | 1.03M | 1.11M |
| Additional Paid-In Capital | 305.15M | 827.73M | ||||
| Retained Earnings | 2.45B | 2.61B | 1.58B | 1.74B | 1.29B | 710.09M |
| Comprehensive Income & Other | -2.27M | -1.55M | -2.40M | -1.10M | -1.38M | -180.00K |
| Total Common Equity | 2.45B | 2.61B | 1.58B | 1.74B | 1.59B | 1.54B |
| Minority Interest | -4.52M | -617.00K | ||||
| Shareholders' Equity | 2.45B | 2.61B | 1.58B | 1.74B | 1.59B | 1.54B |
| Total Liabilities & Equity | 6.66B | 6.57B | 6.39B | 6.27B | 6.31B | 6.22B |
| Total Debt | 3.29B | 2.71B | 3.93B | 3.73B | 3.90B | 3.93B |
| Net Cash (Debt) | -2.99B | -2.36B | -3.61B | -3.42B | -3.61B | -3.59B |
| Net Cash Per Share | -39.44 | -28.85 | -38.71 | -33.74 | -33.14 | -31.44 |
| Filing Date Shares Outstanding | 70.67M | 75.49M | 83.75M | 96.05M | 102.01M | 110.01M |
| Total Common Shares Outstanding | 71.23M | 76.37M | 86.18M | 96.83M | 102.82M | 111.30M |
| Working Capital | -962.75M | -448.49M | -61.18M | -67.01M | -107.91M | -49.24M |
| Book Value Per Share | 34.40 | 34.16 | 18.35 | 18.01 | 15.47 | 13.82 |
| Tangible Book Value | -25.30M | 175.53M | -767.38M | -596.08M | -870.25M | -800.96M |
| Tangible Book Value Per Share | -0.36 | 2.30 | -8.90 | -6.16 | -8.46 | -7.20 |
| Land | 351.89M | 356.70M | 338.47M | 338.47M | 334.37M | 343.96M |
| Buildings | 3.39B | 3.37B | 3.40B | 3.24B | 3.17B | 3.15B |
| Machinery | 2.19B | 2.17B | 2.08B | 1.98B | 1.95B | 1.89B |
| Construction In Progress | 387.16M | 271.60M | 148.57M | 182.71M | 87.61M | 912.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 502.11M | 1.84B | 577.95M | 620.02M | 639.38M | 463.85M |
| Depreciation & Amortization | 361.80M | 296.40M | 272.08M | 252.90M | 257.58M | 267.79M |
| Other Amortization | 13.24M | 13.45M | 12.15M | 11.64M | 9.15M | 11.17M |
| Loss (Gain) From Sale of Assets | -20.91M | -13.41M | ||||
| Asset Writedown & Restructuring Costs | 31.00M | 128.40M | 10.50M | 107.84M | 40.77M | 8.20M |
| Loss (Gain) From Sale of Investments | -1.75B | |||||
| Stock-Based Compensation | 31.77M | 32.15M | 29.67M | 32.38M | 34.07M | 37.77M |
| Other Operating Activities | 109.52M | 60.95M | 154.95M | 16.26M | 110.47M | 284.97M |
| Change in Accounts Receivable | 1.29M | 47.97M | 5.96M | -28.81M | -16.76M | -36.03M |
| Change in Inventory | 1.34M | 1.05M | -543.00K | 1.48M | -2.08M | 2.53M |
| Change in Accounts Payable | -19.25M | 373.73M | 6.34M | -10.35M | 891.00K | 14.82M |
| Change in Income Taxes | -328.50M | 8.07M | -26.50M | -950.00K | -2.95M | 401.00K |
| Change in Other Net Operating Assets | -94.72M | -80.75M | -85.49M | -87.90M | -80.99M | -45.06M |
| Operating Cash Flow | 588.69M | 976.68M | 957.08M | 914.52M | 976.11M | 1.01B |
| Capital Expenditures | -604.35M | -588.22M | -400.40M | -373.95M | -269.15M | -199.45M |
| Sale of Property, Plant & Equipment | 56.76M | 21.95M | ||||
| Cash Acquisitions | -46.84M | -30.27M | -167.86M | |||
| Sale (Purchase) of Intangibles | -43.24M | -85.00M | ||||
| Investment in Securities | 1.76B | |||||
| Other Investing Activities | -2.51M | -41.96M | -3.25M | 109.62M | -7.25M | 69.87M |
| Investing Cash Flow | -640.18M | 1.04B | -433.91M | -264.33M | -422.31M | -129.58M |
| Long-Term Debt Issued | 2.06B | 1.76B | 1.51B | 2.12B | 900.00M | |
| Long-Term Debt Repaid | -3.20B | -1.51B | -1.65B | -2.10B | -1.78B | |
| Net Debt Issued (Repaid) | 777.33M | -1.14B | 254.00M | -141.50M | 19.90M | -878.29M |
| Repurchase of Common Stock | -660.32M | -778.32M | -685.85M | -412.65M | -541.64M | -80.78M |
| Common Dividends Paid | -57.63M | -58.17M | -62.66M | -63.61M | -48.16M | |
| Other Financing Activities | -28.00M | -6.20M | -14.99M | -19.48M | -45.95M | -99.63M |
| Financing Cash Flow | 31.38M | -1.98B | -509.50M | -637.25M | -615.85M | -1.06B |
| Foreign Exchange Rate Adjustments | 209.00K | 194.00K | -228.00K | -73.00K | -10.00K | |
| Net Cash Flow | -19.90M | 37.40M | 13.43M | 12.87M | -62.06M | -177.87M |
| Free Cash Flow | -15.65M | 388.46M | 556.67M | 540.57M | 706.96M | 810.96M |
| Free Cash Flow Margin | -0.38% | 9.49% | 14.16% | 14.46% | 19.88% | 24.07% |
| Free Cash Flow Per Share | -0.21 | 4.75 | 5.96 | 5.33 | 6.49 | 7.11 |
| Levered Free Cash Flow | -150.35M | 594.66M | 413.23M | 404.23M | 549.86M | 555.85M |
| Unlevered Free Cash Flow | -82.89M | 686.05M | 516.52M | 503.50M | 635.84M | 669.33M |
| Cash Interest Paid | 111.75M | 151.00M | 173.18M | 166.68M | 144.02M | 205.24M |
| Cash Income Tax Paid | 82.30M | 131.77M | 144.51M | 164.48M | 140.92M | 5.72M |
| Change in Working Capital | -439.84M | 350.06M | -100.22M | -126.53M | -101.90M | -63.34M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.44B | 6.66B | 6.41B | 6.13B | 5.69B | 7.37B |
| Enterprise Value | 8.43B | 8.91B | 9.96B | 9.58B | 9.16B | 11.06B |
| Last Close Price | 77.04 | 84.62 | 71.34 | 60.90 | 52.51 | 62.45 |
| PE Ratio | 11.63 | 3.61 | 11.09 | 9.88 | 8.90 | 15.88 |
| Forward PE | 10.30 | 11.33 | 10.99 | 10.15 | 9.94 | 13.36 |
| PS Ratio | 1.33 | 1.63 | 1.63 | 1.64 | 1.60 | 2.19 |
| PB Ratio | 2.24 | 2.55 | 4.05 | 3.51 | 3.58 | 4.79 |
| P/TBV Ratio | 37.94 | |||||
| P/FCF Ratio | 17.14 | 11.52 | 11.34 | 8.05 | 9.08 | |
| P/OCF Ratio | 9.25 | 6.82 | 6.70 | 6.70 | 5.83 | 7.29 |
| PEG Ratio | 2.14 | 2.79 | 2.58 | 11.35 | 4.89 | 0.97 |
| EV/Sales Ratio | 2.06 | 2.18 | 2.53 | 2.56 | 2.58 | 3.28 |
| EV/EBITDA Ratio | 7.21 | 7.42 | 8.00 | 7.71 | 7.32 | 9.40 |
| EV/EBIT Ratio | 10.43 | 9.85 | 10.24 | 9.68 | 9.21 | 12.18 |
| EV/FCF Ratio | 22.93 | 17.89 | 17.73 | 12.96 | 13.64 | |
| Debt / Equity Ratio | 1.34 | 1.04 | 2.49 | 2.14 | 2.45 | 2.56 |
| Debt / EBITDA Ratio | 2.47 | 1.99 | 2.80 | 2.76 | 2.87 | 3.07 |
| Debt / FCF Ratio | 6.98 | 7.06 | 6.89 | 5.51 | 4.85 | |
| Net Debt / Equity Ratio | 1.22 | 0.90 | 2.29 | 1.96 | 2.27 | 2.33 |
| Net Debt / EBITDA Ratio | 2.55 | 1.96 | 2.90 | 2.75 | 2.88 | 3.05 |
| Net Debt / FCF Ratio | -190.96 | 6.07 | 6.49 | 6.33 | 5.11 | 4.42 |
| Asset Turnover | 0.62 | 0.63 | 0.62 | 0.59 | 0.57 | 0.53 |
| Inventory Turnover | 82.91 | 80.29 | 71.51 | 63.12 | 56.08 | 47.88 |
| Quick Ratio | 0.27 | 0.47 | 0.77 | 0.75 | 0.68 | 0.78 |
| Current Ratio | 0.33 | 0.54 | 0.90 | 0.89 | 0.82 | 0.91 |
| Return on Equity (ROE) | 19.43% | 87.79% | 34.76% | 37.19% | 40.86% | 34.84% |
| Return on Assets (ROA) | 7.67% | 8.72% | 9.60% | 9.83% | 9.92% | 8.88% |
| Return on Invested Capital (ROIC) | 12.07% | 14.05% | 14.42% | 15.72% | 14.85% | 13.20% |
| Return on Capital Employed (ROCE) | 15.50% | 16.20% | 16.90% | 17.40% | 17.40% | 16.00% |
| Earnings Yield | 8.60% | 27.68% | 9.01% | 10.12% | 11.23% | 6.30% |
| FCF Yield | -0.29% | 5.83% | 8.68% | 8.82% | 12.42% | 11.01% |
| Dividend Yield | 1.04% | 0.83% | 0.91% | 1.01% | 1.08% | |
| Payout Ratio | 12.08% | 3.16% | 10.84% | 10.26% | 7.53% | |
| Buyback Yield / Dilution | 10.10% | 12.46% | 7.92% | 7.00% | 4.47% | -0.52% |
| Total Shareholder Return | 11.13% | 13.29% | 8.83% | 8.01% | 5.55% | -0.52% |