📊 BYD Key Takeaways
Is Boyd Gaming Corp. (BYD) a Good Investment?
Boyd Gaming exhibits concerning financial health marked by negative free cash flow (-$20.8M), dangerously low liquidity ratios (current ratio 0.60x), and high leverage ($2.3B debt) that constrains financial flexibility. Despite respectable 16.4% operating margins and 4.1% revenue growth, the company's weak capital efficiency (ROE 4.2%, ROA 1.6%) and nearly flat net income growth (0.2%) reveal deteriorating operational profitability and poor returns on invested capital.
Boyd Gaming shows solid core operating profitability, healthy cash generation, and manageable leverage, with revenue still growing modestly and interest coverage remaining strong. However, the very high net margin and diluted EPS spike look disconnected from the slower top-line and net income growth, which raises questions about earnings quality and one-off effects. Fundamentals support a stable business, but not an unambiguously strong growth profile.
Boyd Gaming Corp. Key Strengths (BYD)
- Operating margin of 16.4% is solid for capital-intensive hospitality sector
- Revenue growth of 4.1% YoY demonstrates resilient demand and market position
- Operating cash flow of $134.3M provides near-term liquidity from core operations
- Strong operating margin of 18.3% with nearly $977M of operating cash flow
- Manageable leverage with debt/equity of 0.78x and strong 17.7x interest coverage
- Positive free cash flow generation of $388.46M despite substantial capital spending
BYD Stock Risks: Boyd Gaming Corp. Investment Risks
- Negative free cash flow (-$20.8M) indicates capital spending ($155.2M) exceeds cash generation capacity, constraining debt paydown ability
- Current ratio of 0.60x and quick ratio of 0.58x signal acute liquidity stress with $2.3B long-term debt obligation
- Net income growth of only 0.2% despite 4.1% revenue growth reveals operational margin compression and deteriorating profitability conversion
- ROE of 4.2% and ROA of 1.6% represent severely inadequate returns on invested capital and shareholder equity
- Debt/Equity ratio of 0.90x combined with interest coverage of 3.9x provides limited safety margin if business weakens
- Weak liquidity with a 0.54x current ratio and 0.52x quick ratio
- Growth quality looks uneven because EPS rose far faster than revenue and net income
- High capital intensity limits free cash flow conversion and financial flexibility
Key Metrics to Watch
- Free cash flow trend and capital expenditure moderation
- Current ratio and working capital position stability
- Net profit margin trajectory and operating expense control
- Debt-to-EBITDA ratio and debt reduction progress
- Free cash flow after capital expenditures
- Operating margin and revenue growth consistency
Boyd Gaming Corp. (BYD) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
BYD Profit Margin, ROE & Profitability Analysis
BYD vs Real Estate Sector: How Boyd Gaming Corp. Compares
How Boyd Gaming Corp. compares to Real Estate sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Boyd Gaming Corp. Stock Overvalued? BYD Valuation Analysis 2026
Based on fundamental analysis, Boyd Gaming Corp. has mixed fundamental signals relative to the Real Estate sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Boyd Gaming Corp. Balance Sheet: BYD Debt, Cash & Liquidity
BYD Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Boyd Gaming Corp.'s revenue has shown modest growth of 4% over the 5-year period. The most recent EPS of $6.12 reflects profitable operations.
BYD Revenue Growth, EPS Growth & YoY Performance
BYD Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $991.6M | $105.5M | $1.31 |
| Q3 2025 | $961.2M | $131.1M | $1.43 |
| Q2 2025 | $967.5M | $139.8M | $1.47 |
| Q1 2025 | $960.5M | $111.4M | $1.31 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Boyd Gaming Corp. Dividends, Buybacks & Capital Allocation
BYD SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Boyd Gaming Corp. (CIK: 0000906553)
📋 Recent SEC Filings
❓ Frequently Asked Questions about BYD
What is the AI rating for BYD?
Boyd Gaming Corp. (BYD) has a Combined AI Grade of C from Claude (C) and ChatGPT (B) with 76% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are BYD's key strengths?
Claude: Operating margin of 16.4% is solid for capital-intensive hospitality sector. Revenue growth of 4.1% YoY demonstrates resilient demand and market position. ChatGPT: Strong operating margin of 18.3% with nearly $977M of operating cash flow. Manageable leverage with debt/equity of 0.78x and strong 17.7x interest coverage.
What are the risks of investing in BYD?
Claude: Negative free cash flow (-$20.8M) indicates capital spending ($155.2M) exceeds cash generation capacity, constraining debt paydown ability. Current ratio of 0.60x and quick ratio of 0.58x signal acute liquidity stress with $2.3B long-term debt obligation. ChatGPT: Weak liquidity with a 0.54x current ratio and 0.52x quick ratio. Growth quality looks uneven because EPS rose far faster than revenue and net income.
What is BYD's revenue and growth?
Boyd Gaming Corp. reported revenue of $997.4M.
Does BYD pay dividends?
Boyd Gaming Corp. pays dividends, with $13.8M distributed to shareholders in the trailing twelve months.
Where can I find BYD SEC filings?
Official SEC filings for Boyd Gaming Corp. (CIK: 0000906553) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is BYD's EPS?
Boyd Gaming Corp. has a diluted EPS of $1.37.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is BYD's fundamental grade?
Based on our AI fundamental analysis in June 2026, Boyd Gaming Corp. has a C grade with 76% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is BYD stock overvalued or undervalued?
Valuation metrics for BYD: ROE of 4.2% (sector avg: 8%), net margin of 10.6% (sector avg: 20%). Compare these metrics with sector averages to assess valuation.
What is BYD's AI grade for 2026?
Our dual AI analysis gives Boyd Gaming Corp. a combined C grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is BYD's free cash flow?
Boyd Gaming Corp.'s operating cash flow is $134.3M, with capital expenditures of $155.2M. FCF margin is -2.1%.
How does BYD compare to other Real Estate stocks?
Vs Real Estate sector averages: Net margin 10.6% (avg: 20%), ROE 4.2% (avg: 8%), current ratio 0.60 (avg: 1.5).