BOYD GAMING CORP
BOYD GAMING CORP
BOYD GAMING CORP (BYD) — SEC Financial Statements & Analysis
BOYD GAMING CORP (BYD) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 373 | 353 | 319 | 320 | 312 | 317 | 286 | 281 | 284 | 304 | 269 | 261 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 6 | 5 | 5 | 6 | 5 | 5 | 4 | 4 | 4 | 4 | 2 | 12 | |||||
Accounts Receivable Net Current | 79 | 84 | 82 | 115 | 110 | 132 | 103 | 110 | 119 | 138 | 104 | 104 | |||||
Income Taxes Receivable | 0 | 22 | 0 | 22 | 0 | 30 | 20 | 19 | 0 | 4 | 1 | 9 | |||||
Assets Current | 530 | 531 | 496 | 540 | 502 | 562 | 502 | 487 | 480 | 529 | 469 | 459 | |||||
Property Plant And Equipment Net | 2,929 | 2,871 | 2,842 | 2,818 | 2,751 | 2,679 | 2,633 | 2,626 | 2,573 | 2,543 | 2,500 | 2,452 | |||||
Other Assets Noncurrent | 95 | 93 | 176 | 185 | 184 | 67 | 67 | 65 | 70 | 68 | 97 | 133 | |||||
Goodwill | 958 | 958 | 958 | 958 | 958 | 958 | 958 | 947 | 947 | 947 | 1,029 | 1,029 | |||||
Assets | 6,613 | 6,575 | 6,513 | 6,560 | 6,469 | 6,392 | 6,302 | 6,261 | 6,228 | 6,273 | 6,312 | 6,304 | |||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 137 | 151 | 131 | 127 | 128 | 131 | 119 | 128 | 106 | 125 | 106 | 97 | |||||
Long Term Debt Current | - | 0 | 0 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | |||||
Taxes Payable Current | 16 | - | 347 | - | - | - | - | - | - | - | - | - | |||||
Liabilities Current | 883 | 979 | 963 | 629 | 630 | 623 | 611 | 589 | 600 | 596 | 583 | 547 | |||||
Long Term Debt Noncurrent | 2,272 | 2,046 | 1,893 | 3,524 | 3,473 | 3,133 | 3,025 | 2,916 | 2,824 | 2,871 | 2,865 | 2,900 | |||||
Deferred Income Tax Liabilities Net | 323 | 323 | 357 | 362 | 349 | 347 | 314 | 305 | 289 | 289 | 309 | 309 | |||||
Other Liabilities Noncurrent | 64 | 64 | 65 | 66 | 66 | 56 | 56 | 59 | 63 | 61 | 64 | 65 | |||||
Stockholders Equity | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Additional Paid In Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 103 | |||||
Retained Earnings Accumulated Deficit | 2,537 | 2,609 | 2,667 | 1,395 | 1,350 | 1,583 | 1,632 | 1,712 | 1,755 | 1,744 | 1,765 | 1,646 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -2 | -2 | -2 | -2 | -2 | -2 | -1 | -2 | -1 | -1 | -1 | -1 | |||||
Stockholders Equity | 2,536 | 2,608 | 2,666 | 1,396 | 1,352 | 1,582 | 1,632 | 1,712 | 1,755 | 1,744 | 1,768 | 1,749 | |||||
Minority Interest | -2 | -1 | 1 | 2 | 3 | 0 | - | - | - | - | - | - | |||||
Liabilities And Stockholders Equity | 6,613 | 6,575 | 6,513 | 6,560 | 6,469 | 6,392 | 6,302 | 6,261 | 6,228 | 6,273 | 6,312 | 6,304 | |||||
Inventory Net | 20 | 20 | 21 | 22 | 21 | 21 | 20 | 21 | 20 | 21 | 21 | 21 | |||||
Prepaid Expense And Other Assets Current | 53 | 45 | 68 | 55 | 55 | 57 | 68 | 52 | 53 | 59 | 72 | 52 | |||||
Operating Lease Right Of Use Asset | 629 | 646 | 661 | 674 | 686 | 736 | 747 | 760 | 778 | 793 | 799 | 810 | |||||
Intangible Assets Net Excluding Goodwill | 1,471 | 1,475 | 1,381 | 1,385 | 1,388 | 1,391 | 1,395 | 1,376 | 1,379 | 1,393 | 1,417 | 1,421 | |||||
Accrued Liabilities Current | 730 | 828 | 485 | 458 | 449 | 447 | 447 | 416 | 412 | 427 | 433 | 405 | |||||
Accrued Income Taxes Current | - | - | - | - | 10 | - | - | - | 37 | - | - | - | |||||
Operating Lease Liability Noncurrent | 537 | 554 | 568 | 585 | 598 | 652 | 665 | 680 | 697 | 711 | 722 | 735 | |||||
Preferred Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Preferred Stock Shares Authorized | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Common Stock Shares Authorized | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | |||||
Shares Outstanding | 75 | 76 | 79 | 81 | 82 | 86 | 89 | 92 | 95 | 97 | 98 | 100 | |||||
Common Stock Shares Issued | 75 | 76 | - | - | - | 86 | - | - | - | - | - | - | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.79% | -2.39% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 3.05% | 8.07% | 16.17% | -1.23% | -3.75% | -4.82% | 3.66% | 11.15% | 14.08% | -5.29% | 0.59% | -0.41% |
| 2024 | -4.36% | -0.22% | 9.58% | 3.89% | 11.13% | 12.76% | 4.39% | 2.99% | 8.33% | -10.89% | -15.76% | -6.25% |
| 2023 | -7.68% | -6.60% | 2.59% | -2.98% | -9.13% | -11.00% | 8.09% | 13.75% | 17.49% | 0.14% | -0.66% | -12.79% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.60 | 0.54 | 0.51 | 0.86 | 0.80 | 0.90 | 0.82 | 0.83 | 0.80 | 0.89 | 0.80 | 0.84 | |||||
| Quick Ratio | 0.52 | 0.47 | 0.42 | 0.74 | 0.68 | 0.78 | 0.68 | 0.70 | 0.68 | 0.75 | 0.65 | 0.71 | |||||
| Working Capital | -352.96M | -448.49M | -467.80M | -88.78M | -127.95M | -61.18M | -108.65M | -102.04M | -119.96M | -67.01M | -114.17M | -87.52M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.35 | 0.38 | 0.36 | 0.45 | 0.47 | 0.39 | 0.37 | 0.34 | 0.34 | 0.34 | 0.33 | 0.31 | |||||
| Interest Coverage TTM | 5.18 | 4.75 | 4.73 | 4.83 | 4.95 | 5.23 | 4.73 | 4.82 | 4.93 | 5.27 | 5.85 | 6.19 | |||||
| Debt Ratio | 0.13 | 0.15 | 0.15 | 0.10 | 0.10 | 0.10 | 0.10 | 0.09 | 0.10 | 0.10 | 0.09 | 0.09 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.63 | 0.63 | 0.64 | 0.63 | 0.62 | 0.62 | 0.61 | 0.60 | 0.60 | 0.59 | 0.60 | 0.60 | |||||
| Days Sales Outstanding TTM | 8.40 | 9.66 | 8.32 | 10.20 | 10.54 | 12.55 | 9.83 | 10.32 | 10.84 | 12.05 | 9.36 | 9.47 | |||||
| Receivables Turnover TTM | 43.43 | 37.78 | 43.85 | 35.78 | 34.62 | 29.10 | 37.13 | 35.37 | 33.66 | 30.28 | 39.00 | 38.53 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 23.92 | 22.56 | 23.14 | 6.85 | 6.49 | 6.19 | 5.44 | 5.30 | 5.71 | 6.12 | 6.94 | 7.07 | |||||
| Free Cash Flow Per Share TTM | 3.66 | 4.75 | 5.10 | 5.64 | 5.66 | 5.97 | 5.75 | 5.35 | 5.29 | 5.33 | 5.66 | 6.29 | |||||
| Dividend Per Share TTM | 0.75 | 0.71 | 0.73 | 0.73 | 0.73 | 0.67 | 0.69 | 0.67 | 0.65 | 0.63 | 0.63 | 0.62 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 74.74% | 74.91% | 75.06% | 74.98% | 74.75% | 74.56% | 74.01% | 73.63% | 73.33% | 73.24% | 73.00% | 72.80% | |||||
| Operating Profit Margin TTM | 17.39% | 18.29% | 20.72% | 22.93% | 22.93% | 23.61% | 21.37% | 21.65% | 22.39% | 24.12% | 26.83% | 27.55% | |||||
| Net Profit Margin TTM | 44.81% | 45.05% | 45.96% | 13.99% | 13.96% | 14.71% | 13.01% | 13.32% | 14.91% | 16.58% | 18.89% | 19.61% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 3.45% | 4.12% | 5.91% | 6.40% | 6.06% | 5.13% | 3.69% | 2.84% | 2.09% | 5.15% | 5.54% | 5.84% | |||||
| Net Income Growth (1Y) | 232.10% | 218.93% | 274.18% | 11.75% | -0.69% | -6.79% | -28.57% | -30.16% | -17.66% | -3.03% | 21.45% | 29.45% | |||||
| EPS Growth (1Y) | 268.23% | 264.26% | 325.10% | 29.07% | 13.67% | 1.22% | -21.62% | -25.03% | -12.43% | 4.21% | 29.81% | 39.72% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 3.43 | 3.76 | 3.71 | 11.32 | 10.02 | 11.55 | 11.68 | 10.19 | 11.52 | 9.98 | 8.52 | 9.51 | |||||
| P/B | 2.48 | 2.66 | 2.60 | 4.57 | 4.10 | 4.22 | 3.58 | 3.00 | 3.66 | 3.55 | 3.37 | 3.93 | |||||
| P/S TTM | 1.54 | 1.69 | 1.71 | 1.58 | 1.40 | 1.70 | 1.52 | 1.36 | 1.72 | 1.66 | 1.61 | 1.87 | |||||
| Market Cap | 6.29B | 6.93B | 6.94B | 6.38B | 5.54B | 6.67B | 5.84B | 5.14B | 6.41B | 6.19B | 5.96B | 6.87B | |||||
| Enterprise Value | 8.19B | 8.62B | 8.52B | 9.63B | 8.74B | 9.53B | 8.63B | 7.82B | 9.00B | 8.80B | 8.60B | 9.55B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 281.12M | 388.46M | 412.39M | 463.98M | 482.09M | 556.68M | 528.13M | 508.46M | 515.58M | 540.57M | 570.18M | 641.33M | |||||
| Net Debt | 1.90B | 1.69B | 1.57B | 3.25B | 3.21B | 2.86B | 2.78B | 2.68B | 2.58B | 2.61B | 2.64B | 2.68B | |||||
Per-Share and Margin | |||||||||||||||||
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| Adjusted EPS TTM | |||||||||||||||||
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| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
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| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
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| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
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| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
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| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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