BOYD GAMING CORP (BYD) Stock Fundamental Analysis
NYSE:BYD - New York Stock Exchange, Inc. - US1033041013 - Common Stock - Currency: USD
BYD gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 133 industry peers in the Hotels, Restaurants & Leisure industry. BYD scores excellent on profitability, but there are some minor 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
With an excellent Return On Assets value of 8.55%, BYD belongs to the best of the industry, outperforming 81.20% of the companies in the same industry.
Looking at the Return On Equity, with a value of 40.99%, BYD belongs to the top of the industry, outperforming 90.23% of the companies in the same industry.
BYD's Return On Invested Capital of 12.82% is fine compared to the rest of the industry. BYD outperforms 78.95% of its industry peers.
BYD had an Average Return On Invested Capital over the past 3 years of 13.71%. This is in line with the industry average of 13.81%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.55% | ||
| ROE | 40.99% | ||
| ROIC | 12.82% |
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
With an excellent Profit Margin value of 13.96%, BYD belongs to the best of the industry, outperforming 87.22% of the companies in the same industry.
BYD's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 23.74%, BYD belongs to the best of the industry, outperforming 87.22% of the companies in the same industry.
In the last couple of years the Operating Margin of BYD has grown nicely.
BYD has a Gross Margin of 51.96%. This is comparable to the rest of the industry: BYD outperforms 59.40% of its industry peers.
In the last couple of years the Gross Margin of BYD has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.74% | ||
| PM (TTM) | 13.96% | ||
| GM | 51.96% |
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 well above the Cost of Capital (WACC), so BYD is creating value.
Compared to 1 year ago, BYD has less shares outstanding
The number of shares outstanding for BYD has been reduced compared to 5 years ago.
BYD has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.14 indicates that BYD is not a great score, but indicates only limited risk for bankruptcy at the moment.
BYD has a Altman-Z score of 2.14. This is in the better half of the industry: BYD outperforms 62.41% of its industry peers.
BYD has a debt to FCF ratio of 7.98. This is a slightly negative value and a sign of low solvency as BYD would need 7.98 years to pay back of all of its debts.
BYD's Debt to FCF ratio of 7.98 is fine compared to the rest of the industry. BYD outperforms 69.92% of its industry peers.
BYD has a Debt/Equity ratio of 2.57. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of BYD (2.57) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.57 | ||
| Debt/FCF | 7.98 | ||
| Altman-Z | 2.14 |
ROIC/WACC1.71
WACC7.52%
2.3 Liquidity
A Current Ratio of 0.80 indicates that BYD may have some problems paying its short term obligations.
The Current ratio of BYD (0.80) is comparable to the rest of the industry.
A Quick Ratio of 0.76 indicates that BYD may have some problems paying its short term obligations.
BYD has a Quick ratio of 0.76. This is comparable to the rest of the industry: BYD outperforms 46.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.76 |
3. Growth
3.1 Past
BYD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.33%, which is quite good.
The Earnings Per Share has been growing by 29.85% on average over the past years. This is a very strong growth
BYD shows a small growth in Revenue. In the last year, the Revenue has grown by 6.05%.
Measured over the past years, BYD shows a small growth in Revenue. The Revenue has been growing by 3.39% on average per year.
EPS 1Y (TTM)9.33%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%7.28%
Revenue 1Y (TTM)6.05%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%3.23%
3.2 Future
BYD is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.16% yearly.
BYD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.96% yearly.
EPS Next Y0.3%
EPS Next 2Y3.4%
EPS Next 3Y4.16%
EPS Next 5YN/A
Revenue Next Year1.58%
Revenue Next 2Y1.86%
Revenue Next 3Y1.96%
Revenue Next 5YN/A
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
Based on the Price/Earnings ratio of 12.21, the valuation of BYD can be described as correct.
90.23% of the companies in the same industry are more expensive than BYD, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.45. BYD is valued rather cheaply when compared to this.
BYD is valuated reasonably with a Price/Forward Earnings ratio of 11.61.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BYD indicates a rather cheap valuation: BYD is cheaper than 84.96% of the companies listed in the same industry.
BYD's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.90.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.21 | ||
| Fwd PE | 11.61 |
4.2 Price Multiples
BYD's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BYD is cheaper than 82.71% of the companies in the same industry.
84.96% 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 | 15.07 | ||
| EV/EBITDA | 8.04 |
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)41.05
PEG (5Y)0.41
EPS Next 2Y3.4%
EPS Next 3Y4.16%
5. Dividend
5.1 Amount
BYD has a yearly dividend return of 0.93%, which is pretty low.
Compared to an average industry Dividend Yield of 3.71, BYD pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, BYD's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.93% |
5.2 History
On average, the dividend of BYD grows each year by 21.48%, which is quite nice.
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
11.09% of the earnings are spent on dividend by BYD. This is a low number and sustainable payout ratio.
The dividend of BYD is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP11.09%
EPS Next 2Y3.4%
EPS Next 3Y4.16%
81.57
+0.18 (+0.22%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners75.26%
Inst Owner Change-0.26%
Ins Owners21.76%
Ins Owner Change6.81%
Market Cap6.64B
Analysts76.67
Price Target82.03 (0.56%)
Short Float %5.16%
Short Ratio3.12
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.93% |
Yearly Dividend0.68
Dividend Growth(5Y)21.48%
DP11.09%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.41%
Min EPS beat(2)5.72%
Max EPS beat(2)9.1%
EPS beat(4)4
Avg EPS beat(4)7.29%
Min EPS beat(4)5.12%
Max EPS beat(4)9.24%
EPS beat(8)5
Avg EPS beat(8)2.8%
EPS beat(12)9
Avg EPS beat(12)5.86%
EPS beat(16)13
Avg EPS beat(16)10.18%
Revenue beat(2)2
Avg Revenue beat(2)1.27%
Min Revenue beat(2)0.68%
Max Revenue beat(2)1.85%
Revenue beat(4)4
Avg Revenue beat(4)3.04%
Min Revenue beat(4)0.68%
Max Revenue beat(4)5.38%
Revenue beat(8)6
Avg Revenue beat(8)1.73%
Revenue beat(12)10
Avg Revenue beat(12)2.36%
Revenue beat(16)13
Avg Revenue beat(16)2.65%
PT rev (1m)0.14%
PT rev (3m)-5.13%
EPS NQ rev (1m)-0.68%
EPS NQ rev (3m)0.31%
EPS NY rev (1m)-0.6%
EPS NY rev (3m)0.94%
Revenue NQ rev (1m)-0.06%
Revenue NQ rev (3m)-0.79%
Revenue NY rev (1m)-0.08%
Revenue NY rev (3m)-0.25%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.21 | ||
| Fwd PE | 11.61 | ||
| P/S | 1.68 | ||
| P/FCF | 15.07 | ||
| P/OCF | 6.9 | ||
| P/B | 4.92 | ||
| P/tB | N/A | ||
| EV/EBITDA | 8.04 |
EPS(TTM)6.68
EY8.19%
EPS(NY)7.02
Fwd EY8.61%
FCF(TTM)5.41
FCFY6.64%
OCF(TTM)11.82
OCFY14.5%
SpS48.66
BVpS16.57
TBVpS-12.24
PEG (NY)41.05
PEG (5Y)0.41
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.55% | ||
| ROE | 40.99% | ||
| ROCE | 16.11% | ||
| ROIC | 12.82% | ||
| ROICexc | 13.54% | ||
| ROICexgc | 23.53% | ||
| OM | 23.74% | ||
| PM (TTM) | 13.96% | ||
| GM | 51.96% | ||
| FCFM | 11.13% |
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-Score5
Asset Turnover0.61
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.57 | ||
| Debt/FCF | 7.98 | ||
| Debt/EBITDA | 2.84 | ||
| Cap/Depr | 185.11% | ||
| Cap/Sales | 13.17% | ||
| Interest Coverage | 5.29 | ||
| Cash Conversion | 78.74% | ||
| Profit Quality | 79.69% | ||
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.76 | ||
| Altman-Z | 2.14 |
F-Score5
WACC7.52%
ROIC/WACC1.71
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)9.33%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%7.28%
EPS Next Y0.3%
EPS Next 2Y3.4%
EPS Next 3Y4.16%
EPS Next 5YN/A
Revenue 1Y (TTM)6.05%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%3.23%
Revenue Next Year1.58%
Revenue Next 2Y1.86%
Revenue Next 3Y1.96%
Revenue Next 5YN/A
EBIT growth 1Y-1.03%
EBIT growth 3Y0.59%
EBIT growth 5Y14.71%
EBIT Next Year32.48%
EBIT Next 3Y10.61%
EBIT Next 5YN/A
FCF growth 1Y-37.57%
FCF growth 3Y-11.78%
FCF growth 5Y10.27%
OCF growth 1Y-6.06%
OCF growth 3Y-1.79%
OCF growth 5Y11.76%