BOYD GAMING CORP (BYD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:BYD - US1033041013 - Common Stock
83.89 USD
-1.2 (-1.41%)
83.8 USD
-0.09 (-0.11%)
Taking everything into account, BYD scores 6 out of 10 in our fundamental rating. BYD was compared to 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 may be a bit undervalued, certainly considering the very reasonable score on growth
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.
- BYD had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- The Return On Assets of BYD (28.76%) is better than 97.74% of its industry peers.
- Looking at the Return On Equity, with a value of 70.26%, BYD belongs to the top of the industry, outperforming 92.48% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 13.49%, BYD belongs to the top of the industry, outperforming 80.45% of the companies in the same industry.
- BYD had an Average Return On Invested Capital over the past 3 years of 13.71%. This is above the industry average of 10.34%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.76% | ||
| ROE | 70.26% | ||
| ROIC | 13.49% |
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's Profit Margin of 46.02% is amongst the best of the industry. BYD outperforms 98.50% of its industry peers.
- BYD's Profit Margin has improved in the last couple of years.
- BYD has a Operating Margin of 23.11%. This is amongst the best in the industry. BYD outperforms 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 50.78%, BYD is in line with its industry, outperforming 59.40% of the companies in the same industry.
- In the last couple of years the Gross Margin of BYD has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.11% | ||
| PM (TTM) | 46.02% | ||
| GM | 50.78% |
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
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BYD is creating some value.
- Compared to 1 year ago, BYD has less shares outstanding
- BYD has less shares outstanding than it did 5 years ago.
- Compared to 1 year ago, BYD has a worse debt to assets ratio.
2.2 Solvency
- An Altman-Z score of 2.63 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 2.63. This is in the better half of the industry: BYD outperforms 69.17% of its industry peers.
- The Debt to FCF ratio of BYD is 4.59, which is a neutral value as it means it would take BYD, 4.59 years of fcf income to pay off all of its debts.
- BYD has a better Debt to FCF ratio (4.59) than 76.69% of its industry peers.
- A Debt/Equity ratio of 0.71 indicates that BYD is somewhat dependend on debt financing.
- With a decent Debt to Equity ratio value of 0.71, BYD is doing good in the industry, outperforming 63.91% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 4.59 | ||
| Altman-Z | 2.63 |
ROIC/WACC1.68
WACC8.03%
2.3 Liquidity
- A Current Ratio of 0.51 indicates that BYD may have some problems paying its short term obligations.
- Looking at the Current ratio, with a value of 0.51, BYD is doing worse than 74.44% of the companies in the same industry.
- BYD has a Quick Ratio of 0.51. 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 0.49 is on the low side compared to the rest of the industry. BYD is outperformed by 72.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.49 |
3. Growth
3.1 Past
- BYD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.35%, which is quite good.
- 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.
- BYD shows a small growth in Revenue. In the last year, the Revenue has grown by 5.91%.
- 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)14.35%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%13.16%
Revenue 1Y (TTM)5.91%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%4.49%
3.2 Future
- The Earnings Per Share is expected to grow by 7.55% on average over the next years.
- BYD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.83% yearly.
EPS Next Y9.01%
EPS Next 2Y7.91%
EPS Next 3Y7.55%
EPS Next 5YN/A
Revenue Next Year3.15%
Revenue Next 2Y1.34%
Revenue Next 3Y1.83%
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last 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
- The Price/Earnings ratio is 11.70, which indicates a very decent valuation of BYD.
- Based on the Price/Earnings ratio, BYD is valued cheaper than 86.47% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 27.21. BYD is valued rather cheaply when compared to this.
- With a Price/Forward Earnings ratio of 10.97, the valuation of BYD can be described as very reasonable.
- 86.47% of the companies in the same industry are more expensive than BYD, based on the Price/Forward Earnings ratio.
- BYD's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.26.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.7 | ||
| Fwd PE | 10.97 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, BYD is valued cheaper than 89.47% of the companies in the same industry.
- 81.20% 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 | 15.89 | ||
| EV/EBITDA | 6.68 |
4.3 Compensation for Growth
- The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
- The excellent profitability rating of BYD may justify a higher PE ratio.
PEG (NY)1.3
PEG (5Y)0.39
EPS Next 2Y7.91%
EPS Next 3Y7.55%
5. Dividend
5.1 Amount
- BYD has a yearly dividend return of 0.85%, which is pretty low.
- BYD's Dividend Yield is a higher than the industry average which is at 1.19.
- With a Dividend Yield of 0.85, BYD pays less dividend than the S&P500 average, which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.85% |
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
- BYD pays out 3.15% of its income as dividend. This is a sustainable payout ratio.
- The dividend of BYD is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP3.15%
EPS Next 2Y7.91%
EPS Next 3Y7.55%
BOYD GAMING CORP / BYD FAQ
What is the fundamental rating for BYD stock?
ChartMill assigns a fundamental rating of 6 / 10 to BYD.
Can you provide the valuation status for BOYD GAMING CORP?
ChartMill assigns a valuation rating of 8 / 10 to BOYD GAMING CORP (BYD). This can be considered as Undervalued.
How profitable is BOYD GAMING CORP (BYD) stock?
BOYD GAMING CORP (BYD) has a profitability rating of 8 / 10.
What is the valuation of BOYD GAMING CORP based on its PE and PB ratios?
The Price/Earnings (PE) ratio for BOYD GAMING CORP (BYD) is 11.7 and the Price/Book (PB) ratio is 2.46.
How financially healthy is BOYD GAMING CORP?
The financial health rating of BOYD GAMING CORP (BYD) is 4 / 10.