BOYD GAMING CORP (BYD) Stock Fundamental Analysis
NYSE:BYD - New York Stock Exchange, Inc. - US1033041013 - Common Stock
We assign a fundamental rating of 5 out of 10 to BYD. BYD was compared to 134 industry peers in the Hotels, Restaurants & Leisure industry. While BYD belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. BYD has a bad growth rate and is valued cheaply.
1. Profitability
1.1 Basic Checks
In the past year BYD was profitable.
In the past year BYD had a positive cash flow from operations.
BYD had positive earnings in 4 of the past 5 years.
Each year in the past 5 years BYD had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 7.93%, BYD belongs to the top of the industry, outperforming 81.68% of the companies in the same industry.
The Return On Equity of BYD (30.64%) is better than 84.73% of its industry peers.
BYD has a Return On Invested Capital of 13.10%. This is amongst the best in the industry. BYD outperforms 81.68% of its industry peers.
BYD had an Average Return On Invested Capital over the past 3 years of 13.74%. This is above the industry average of 10.54%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.93% | ||
| ROE | 30.64% | ||
| ROIC | 13.1% |
ROA(3y)9.16%
ROA(5y)5.56%
ROE(3y)35.3%
ROE(5y)21.27%
ROIC(3y)13.74%
ROIC(5y)9.98%
1.3 Margins
Looking at the Profit Margin, with a value of 13.01%, BYD is in the better half of the industry, outperforming 78.63% of the companies in the same industry.
BYD's Profit Margin has improved in the last couple of years.
BYD has a Operating Margin of 24.33%. This is amongst the best in the industry. BYD outperforms 86.26% of its industry peers.
BYD's Operating Margin has improved in the last couple of years.
BYD has a Gross Margin of 52.22%. This is in the better half of the industry: BYD outperforms 61.83% of its industry peers.
BYD's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 24.33% | ||
| PM (TTM) | 13.01% | ||
| GM | 52.22% |
OM growth 3Y45.96%
OM growth 5Y14.77%
PM growth 3YN/A
PM growth 5Y30.52%
GM growth 3Y1.01%
GM growth 5Y2.47%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BYD is still creating some value.
Compared to 1 year ago, BYD has less shares outstanding
Compared to 5 years ago, BYD has less shares outstanding
BYD has a better debt/assets ratio than last year.
2.2 Solvency
BYD has an Altman-Z score of 2.31. This is not the best score and indicates that BYD is in the grey zone with still only limited risk for bankruptcy at the moment.
BYD has a better Altman-Z score (2.31) than 63.36% of its industry peers.
BYD has a debt to FCF ratio of 5.81. This is a neutral value as BYD would need 5.81 years to pay back of all of its debts.
BYD has a Debt to FCF ratio of 5.81. This is in the better half of the industry: BYD outperforms 70.99% of its industry peers.
BYD has a Debt/Equity ratio of 1.85. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.85, BYD is in line with its industry, outperforming 56.49% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.85 | ||
| Debt/FCF | 5.81 | ||
| Altman-Z | 2.31 |
ROIC/WACC1.65
WACC7.95%
2.3 Liquidity
BYD has a Current Ratio of 0.82. This is a bad value and indicates that BYD is not financially healthy enough and could expect problems in meeting its short term obligations.
BYD has a Current ratio (0.82) which is comparable to the rest of the industry.
BYD has a Quick Ratio of 0.82. This is a bad value and indicates that BYD is not financially healthy enough and could expect problems in meeting its short term obligations.
BYD's Quick ratio of 0.79 is in line compared to the rest of the industry. BYD outperforms 45.80% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.82 | ||
| Quick Ratio | 0.79 |
3. Growth
3.1 Past
BYD shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.57%.
BYD shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 36.74% yearly.
Looking at the last year, BYD shows a small growth in Revenue. The Revenue has grown by 3.68% in the last year.
Measured over the past years, BYD shows a small growth in Revenue. The Revenue has been growing by 7.31% on average per year.
EPS 1Y (TTM)-1.57%
EPS 3YN/A
EPS 5Y36.74%
EPS Q2Q%11.76%
Revenue 1Y (TTM)3.68%
Revenue growth 3Y19.72%
Revenue growth 5Y7.31%
Sales Q2Q%6.43%
3.2 Future
BYD is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.14% yearly.
BYD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.03% yearly.
EPS Next Y1.57%
EPS Next 2Y2.07%
EPS Next 3Y4.76%
EPS Next 5Y6.14%
Revenue Next Year4.88%
Revenue Next 2Y2.86%
Revenue Next 3Y2.67%
Revenue Next 5Y2.03%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 12.21, which indicates a correct valuation of BYD.
BYD's Price/Earnings ratio is rather cheap when compared to the industry. BYD is cheaper than 90.08% of the companies in the same industry.
When comparing the Price/Earnings ratio of BYD to the average of the S&P500 Index (28.29), we can say BYD is valued rather cheaply.
BYD is valuated reasonably with a Price/Forward Earnings ratio of 11.65.
90.08% of the companies in the same industry are more expensive than BYD, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of BYD to the average of the S&P500 Index (24.44), we can say BYD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.21 | ||
| Fwd PE | 11.65 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BYD is valued cheaper than 81.68% of the companies in the same industry.
90.08% of the companies in the same industry are more expensive than BYD, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.81 | ||
| EV/EBITDA | 7.91 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of BYD may justify a higher PE ratio.
PEG (NY)7.77
PEG (5Y)0.33
EPS Next 2Y2.07%
EPS Next 3Y4.76%
5. Dividend
5.1 Amount
With a yearly dividend of 0.92%, BYD is not a good candidate for dividend investing.
BYD's Dividend Yield is a higher than the industry average which is at 2.98.
With a Dividend Yield of 0.92, BYD pays less dividend than the S&P500 average, which is at 2.28.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.92% |
5.2 History
On average, the dividend of BYD grows each year by 23.69%, which is quite nice.
BYD has been paying a dividend for at least 10 years, so it has a reliable track record.
BYD has decreased its dividend recently.
Dividend Growth(5Y)23.69%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
BYD pays out 12.66% of its income as dividend. This is a sustainable payout ratio.
BYD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP12.66%
EPS Next 2Y2.07%
EPS Next 3Y4.76%
BOYD GAMING CORP
NYSE:BYD (1/22/2025, 11:45:48 AM)
76.5525
+0.39 (+0.52%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners70.63%
Inst Owner Change-0.27%
Ins Owners19.71%
Ins Owner Change-7.94%
Market Cap6.77B
Analysts74
Price Target78.1 (2.02%)
Short Float %3.03%
Short Ratio2.37
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.92% |
Yearly Dividend0.64
Dividend Growth(5Y)23.69%
DP12.66%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.18%
Min EPS beat(2)5.12%
Max EPS beat(2)9.24%
EPS beat(4)3
Avg EPS beat(4)5.32%
Min EPS beat(4)-4.9%
Max EPS beat(4)11.82%
EPS beat(8)5
Avg EPS beat(8)4.75%
EPS beat(12)9
Avg EPS beat(12)6.3%
EPS beat(16)13
Avg EPS beat(16)16.67%
Revenue beat(2)2
Avg Revenue beat(2)4.81%
Min Revenue beat(2)4.25%
Max Revenue beat(2)5.38%
Revenue beat(4)3
Avg Revenue beat(4)2.58%
Min Revenue beat(4)-0.85%
Max Revenue beat(4)5.38%
Revenue beat(8)6
Avg Revenue beat(8)2.81%
Revenue beat(12)10
Avg Revenue beat(12)2.59%
Revenue beat(16)12
Avg Revenue beat(16)3.06%
PT rev (1m)2.39%
PT rev (3m)8.32%
EPS NQ rev (1m)0%
EPS NQ rev (3m)5.46%
EPS NY rev (1m)0%
EPS NY rev (3m)4.36%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)4.88%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)2.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.21 | ||
| Fwd PE | 11.65 | ||
| P/S | 1.76 | ||
| P/FCF | 12.81 | ||
| P/OCF | 7.42 | ||
| P/B | 4.15 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.91 |
EPS(TTM)6.27
EY8.19%
EPS(NY)6.57
Fwd EY8.59%
FCF(TTM)5.97
FCFY7.8%
OCF(TTM)10.32
OCFY13.48%
SpS43.49
BVpS18.46
TBVpS-8.16
PEG (NY)7.77
PEG (5Y)0.33
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.93% | ||
| ROE | 30.64% | ||
| ROCE | 16.43% | ||
| ROIC | 13.1% | ||
| ROICexc | 13.8% | ||
| ROICexgc | 24.44% | ||
| OM | 24.33% | ||
| PM (TTM) | 13.01% | ||
| GM | 52.22% | ||
| FCFM | 13.74% |
ROA(3y)9.16%
ROA(5y)5.56%
ROE(3y)35.3%
ROE(5y)21.27%
ROIC(3y)13.74%
ROIC(5y)9.98%
ROICexc(3y)14.53%
ROICexc(5y)10.56%
ROICexgc(3y)26.07%
ROICexgc(5y)18.88%
ROCE(3y)17.23%
ROCE(5y)12.51%
ROICexcg growth 3Y77.21%
ROICexcg growth 5Y18.58%
ROICexc growth 3Y76.29%
ROICexc growth 5Y21.58%
OM growth 3Y45.96%
OM growth 5Y14.77%
PM growth 3YN/A
PM growth 5Y30.52%
GM growth 3Y1.01%
GM growth 5Y2.47%
F-Score6
Asset Turnover0.61
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.85 | ||
| Debt/FCF | 5.81 | ||
| Debt/EBITDA | 2.52 | ||
| Cap/Depr | 143.82% | ||
| Cap/Sales | 9.99% | ||
| Interest Coverage | 5.49 | ||
| Cash Conversion | 75.87% | ||
| Profit Quality | 105.6% | ||
| Current Ratio | 0.82 | ||
| Quick Ratio | 0.79 | ||
| Altman-Z | 2.31 |
F-Score6
WACC7.95%
ROIC/WACC1.65
Cap/Depr(3y)108.13%
Cap/Depr(5y)92.34%
Cap/Sales(3y)7.83%
Cap/Sales(5y)7.55%
Profit Quality(3y)124.19%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.57%
EPS 3YN/A
EPS 5Y36.74%
EPS Q2Q%11.76%
EPS Next Y1.57%
EPS Next 2Y2.07%
EPS Next 3Y4.76%
EPS Next 5Y6.14%
Revenue 1Y (TTM)3.68%
Revenue growth 3Y19.72%
Revenue growth 5Y7.31%
Sales Q2Q%6.43%
Revenue Next Year4.88%
Revenue Next 2Y2.86%
Revenue Next 3Y2.67%
Revenue Next 5Y2.03%
EBIT growth 1Y-9.55%
EBIT growth 3Y74.75%
EBIT growth 5Y23.16%
EBIT Next Year29.63%
EBIT Next 3Y9.65%
EBIT Next 5Y6.35%
FCF growth 1Y-27.4%
FCF growth 3Y68%
FCF growth 5Y14.64%
OCF growth 1Y-5.04%
OCF growth 3Y46.81%
OCF growth 5Y16.05%