BOYD GAMING CORP (BYD) Stock Fundamental Analysis
USA - NYSE:BYD - US1033041013 - Common Stock
83.3 USD
+0.46 (+0.56%)
83.3 USD
0 (0%)
We assign a fundamental rating of 5 out of 10 to BYD. BYD was compared to 133 industry peers in the Hotels, Restaurants & Leisure industry. While BYD belongs to the best of the industry regarding profitability, there are concerns on its financial health. BYD scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
BYD had positive earnings in the past year.
In the past year BYD had a positive cash flow from operations.
BYD had positive earnings in 4 of the past 5 years.
In the past 5 years BYD always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 8.60%, BYD belongs to the top of the industry, outperforming 81.95% of the companies in the same industry.
BYD's Return On Equity of 40.51% is amongst the best of the industry. BYD outperforms 89.47% of its industry peers.
BYD's Return On Invested Capital of 12.83% is fine compared to the rest of the industry. BYD outperforms 79.70% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BYD is in line with the industry average of 15.68%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.6% | ||
| ROE | 40.51% | ||
| ROIC | 12.83% |
ROA(3y)9.69%
ROA(5y)6.89%
ROE(3y)37.43%
ROE(5y)26.09%
ROIC(3y)13.71%
ROIC(5y)11.32%
1.3 Margins
BYD has a better Profit Margin (14.02%) than 84.96% of its industry peers.
In the last couple of years the Profit Margin of BYD has grown nicely.
BYD has a better Operating Margin (23.73%) than 87.22% of its industry peers.
In the last couple of years the Operating Margin of BYD has grown nicely.
Looking at the Gross Margin, with a value of 51.60%, BYD is in line with its industry, outperforming 58.65% of the companies in the same industry.
BYD's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.73% | ||
| PM (TTM) | 14.02% | ||
| GM | 51.6% |
OM growth 3Y-4.44%
OM growth 5Y10.94%
PM growth 3Y2.23%
PM growth 5Y25.42%
GM growth 3Y-3.19%
GM growth 5Y1.76%
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 worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.15 indicates that BYD is not a great score, but indicates only limited risk for bankruptcy at the moment.
BYD has a Altman-Z score (2.15) which is in line with its industry peers.
The Debt to FCF ratio of BYD is 8.45, which is on the high side as it means it would take BYD, 8.45 years of fcf income to pay off all of its debts.
BYD has a Debt to FCF ratio of 8.45. This is in the better half of the industry: BYD outperforms 65.41% of its industry peers.
BYD has a Debt/Equity ratio of 2.53. This is a high value indicating a heavy dependency on external financing.
BYD has a Debt to Equity ratio (2.53) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.53 | ||
| Debt/FCF | 8.45 | ||
| Altman-Z | 2.15 |
ROIC/WACC1.47
WACC8.72%
2.3 Liquidity
BYD has a Current Ratio of 0.86. 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 (0.86) which is comparable to the rest of the industry.
A Quick Ratio of 0.82 indicates that BYD may have some problems paying its short term obligations.
BYD's Quick ratio of 0.82 is in line compared to the rest of the industry. BYD outperforms 49.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.82 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 14.08% over the past year.
Measured over the past years, BYD shows a very strong growth in Earnings Per Share. The EPS has been growing by 29.85% on average per year.
The Revenue has been growing slightly by 6.39% in the past year.
BYD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.39% yearly.
EPS 1Y (TTM)14.08%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%18.35%
Revenue 1Y (TTM)6.39%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%6.87%
3.2 Future
The Earnings Per Share is expected to grow by 10.02% on average over the next years. This is quite good.
BYD is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -2.02% yearly.
EPS Next Y5.88%
EPS Next 2Y9.25%
EPS Next 3Y10.02%
EPS Next 5YN/A
Revenue Next Year-2.39%
Revenue Next 2Y-3.19%
Revenue Next 3Y-2.02%
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
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
A Price/Earnings ratio of 11.95 indicates a reasonable valuation of BYD.
87.97% of the companies in the same industry are more expensive than BYD, based on the Price/Earnings ratio.
BYD is valuated cheaply when we compare the Price/Earnings ratio to 27.41, which is the current average of the S&P500 Index.
BYD is valuated reasonably with a Price/Forward Earnings ratio of 10.62.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BYD indicates a rather cheap valuation: BYD is cheaper than 87.22% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of BYD to the average of the S&P500 Index (22.88), we can say BYD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.95 | ||
| Fwd PE | 10.62 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BYD indicates a rather cheap valuation: BYD is cheaper than 81.20% of the companies listed in the same industry.
81.95% 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 | 15.82 | ||
| EV/EBITDA | 7.99 |
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)2.03
PEG (5Y)0.4
EPS Next 2Y9.25%
EPS Next 3Y10.02%
5. Dividend
5.1 Amount
With a yearly dividend of 0.84%, BYD is not a good candidate for dividend investing.
BYD's Dividend Yield is a higher than the industry average which is at 3.93.
With a Dividend Yield of 0.84, BYD pays less dividend than the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.84% |
5.2 History
The dividend of BYD is nicely growing with an annual growth rate of 21.48%!
BYD has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of BYD decreased in the last 3 years.
Dividend Growth(5Y)21.48%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
BYD pays out 10.64% 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.
DP10.64%
EPS Next 2Y9.25%
EPS Next 3Y10.02%
83.3
+0.46 (+0.56%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners75.96%
Inst Owner Change-5.01%
Ins Owners21.76%
Ins Owner Change-8.77%
Market Cap6.68B
Analysts74.74
Price Target92.14 (10.61%)
Short Float %5.03%
Short Ratio2.36
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.84% |
Yearly Dividend0.68
Dividend Growth(5Y)21.48%
DP10.64%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.91%
Min EPS beat(2)5.72%
Max EPS beat(2)12.09%
EPS beat(4)4
Avg EPS beat(4)9.04%
Min EPS beat(4)5.72%
Max EPS beat(4)12.09%
EPS beat(8)6
Avg EPS beat(8)4.96%
EPS beat(12)9
Avg EPS beat(12)6.35%
EPS beat(16)13
Avg EPS beat(16)6.58%
Revenue beat(2)2
Avg Revenue beat(2)2.75%
Min Revenue beat(2)0.68%
Max Revenue beat(2)4.81%
Revenue beat(4)4
Avg Revenue beat(4)2.9%
Min Revenue beat(4)0.68%
Max Revenue beat(4)4.81%
Revenue beat(8)7
Avg Revenue beat(8)2.4%
Revenue beat(12)10
Avg Revenue beat(12)2.62%
Revenue beat(16)13
Avg Revenue beat(16)2.36%
PT rev (1m)0.18%
PT rev (3m)12.92%
EPS NQ rev (1m)0.69%
EPS NQ rev (3m)5.31%
EPS NY rev (1m)5.41%
EPS NY rev (3m)4.94%
Revenue NQ rev (1m)-1.16%
Revenue NQ rev (3m)-9.43%
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)-3.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.95 | ||
| Fwd PE | 10.62 | ||
| P/S | 1.66 | ||
| P/FCF | 15.82 | ||
| P/OCF | 7 | ||
| P/B | 4.79 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.99 |
EPS(TTM)6.97
EY8.37%
EPS(NY)7.84
Fwd EY9.41%
FCF(TTM)5.27
FCFY6.32%
OCF(TTM)11.9
OCFY14.29%
SpS50.23
BVpS17.38
TBVpS-11.84
PEG (NY)2.03
PEG (5Y)0.4
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.6% | ||
| ROE | 40.51% | ||
| ROCE | 16.11% | ||
| ROIC | 12.83% | ||
| ROICexc | 13.56% | ||
| ROICexgc | 23.28% | ||
| OM | 23.73% | ||
| PM (TTM) | 14.02% | ||
| GM | 51.6% | ||
| FCFM | 10.48% |
ROA(3y)9.69%
ROA(5y)6.89%
ROE(3y)37.43%
ROE(5y)26.09%
ROIC(3y)13.71%
ROIC(5y)11.32%
ROICexc(3y)14.47%
ROICexc(5y)11.99%
ROICexgc(3y)25.84%
ROICexgc(5y)21.38%
ROCE(3y)17.23%
ROCE(5y)14.22%
ROICexcg growth 3Y-0.73%
ROICexcg growth 5Y16.07%
ROICexc growth 3Y-0.21%
ROICexc growth 5Y16.3%
OM growth 3Y-4.44%
OM growth 5Y10.94%
PM growth 3Y2.23%
PM growth 5Y25.42%
GM growth 3Y-3.19%
GM growth 5Y1.76%
F-Score7
Asset Turnover0.61
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.53 | ||
| Debt/FCF | 8.45 | ||
| Debt/EBITDA | 2.84 | ||
| Cap/Depr | 186.18% | ||
| Cap/Sales | 13.21% | ||
| Interest Coverage | 5.18 | ||
| Cash Conversion | 76.87% | ||
| Profit Quality | 74.81% | ||
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.82 | ||
| Altman-Z | 2.15 |
F-Score7
WACC8.72%
ROIC/WACC1.47
Cap/Depr(3y)131.54%
Cap/Depr(5y)106.28%
Cap/Sales(3y)9.25%
Cap/Sales(5y)8.34%
Profit Quality(3y)98.02%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.08%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%18.35%
EPS Next Y5.88%
EPS Next 2Y9.25%
EPS Next 3Y10.02%
EPS Next 5YN/A
Revenue 1Y (TTM)6.39%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%6.87%
Revenue Next Year-2.39%
Revenue Next 2Y-3.19%
Revenue Next 3Y-2.02%
Revenue Next 5YN/A
EBIT growth 1Y2.42%
EBIT growth 3Y0.59%
EBIT growth 5Y14.71%
EBIT Next Year31.72%
EBIT Next 3Y9.94%
EBIT Next 5YN/A
FCF growth 1Y-34.15%
FCF growth 3Y-11.78%
FCF growth 5Y10.27%
OCF growth 1Y-2.92%
OCF growth 3Y-1.79%
OCF growth 5Y11.76%