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Boyd Gaming Corp. (BYD)

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Boyd Gaming Corp. (BYD) reported revenue of $1.0 billion for Q2 FY2026, the quarter ended 30 June 2026, unchanged on the same quarter a year earlier. Net income was $131 million, down 13.4% on the year, and diluted earnings per share $1.75. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$1.0 billionunchanged
Net income$131 milliondown 13.4%
Diluted EPS$1.75
QuarterQ2 FY2026ended 30 June 2026

Boyd Gaming (BYD) in brief

Boyd Gaming (BYD) reported revenue of $4.1 billion for fiscal 2025, the year ended 31 December 2025, up 4.1% on the year before.
Read moreNet income was $1.8 billion and diluted earnings per share $22.56. Revenue was $3.9 billion in fiscal 2024, $3.7 billion in fiscal 2023, $3.6 billion in fiscal 2022 and $3.4 billion in fiscal 2021. Net income in the same years was $578 million, $620 million, $639 million and $464 million. Over the twelve months to 30 June 2026, Boyd Gaming reported revenue of $4.1 billion and net income of $1.8 billion. Revenue grew 13.4% a year, compounded, over the five years to fiscal 2025. Boyd Gaming declared $0.72 a share in dividends over the last four quarters and had 73 million shares outstanding at the latest filed count. At 30 June 2026 it carried $2.6 billion of debt and $323 million of cash. At the close of 8 October 2026 the market cap of Boyd Gaming was $5.1 billion, 3.1 times its earnings over the last twelve months.

Ratios

From the filings

ROE72.7%
ROCE13.1%
Operating margin16.4%
Net margin44.3%
FCF margin0.9%
Interest cover5.66
Debt to equity1.05
Cash conversion0.34
Share count, 1 year-9.2%
Sales CAGR, 3 years4.8%
Profit CAGR, 3 years42.3%
EPS, TTM$22.72

At the close of 8 October 2026

Price$70.00
Market cap$5.1 billion
Stock P/E3.08
Price to book2.05
EV / EBITDA7.25
Dividend yield1.0%
Market cap / sales1.25
52-week high$91.26
52-week low$66.07
Price, 1 year-16.3%
Price CAGR, 3 years5.3%
Price CAGR, 5 years1.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Boyd Gaming Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
BYDgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BYD

Filings21 in twelve months: 14 current reports (8-K), about 5 other events; 4 results of operations; 4 officer or director change; 1 regulation fd disclosure; 1 shareholder vote
Planned insider sales14 Form 144 notices in twelve months, $37.0 million; latest 25 August 2026
Options tapeput/call 0.26 by open interest at the 8 October 2026 close; the straddle prices a 4.0% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading11 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest5.4 million shares short, 5.72 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue9039549619689611,0419921,0341,0041,0629971,034
SG&A99.990.6108105102112108110104111110111
Operating income218155219227220261200242140166164201
Operating margin24%16%23%23%23%25%20%23%14%16%16%19%
Interest expense42.442.342.342.946.245.948.450.633.325.428.531.4
Pre-tax income1771131771851742161521931,842142137171
Tax rate24%18%23%24%25%21%27%22%22%2%24%24%
Net income13592.61361401311711111511,440140106131
Net margin15%10%14%14%14%16%11%15%143%13%11%13%
Diluted EPS$1.34$0.94$1.40$1.47$1.43$1.92$1.31$1.84$17.81$1.79$1.37$1.75
Operating cash flow234217251213231262256205240275134-23.5
Capital expenditure10894.989.611485.2111170124146148155142
Free cash flow12612216198.714615186.580.694.4127-20.8-165
Buybacks106100.0106176202203328105160185155156
Dividends paid16.015.815.516.315.715.214.714.714.514.213.815.0
Shares outstanding98m99m95m92m89m86m82m81m79m76m75m73m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue2,1422,2152,1992,4012,6273,3262,1783,3703,5553,7383,9304,0924,098
Selling, general and administrative328322322362369460350366374390427433436
Operating income17427226134335547314.3900981902928748671
Operating margin8.1%12.3%11.9%14.3%13.5%14.2%0.7%26.7%27.6%24.1%23.6%18.3%16.4%
Interest expense230225213173204237230199151171177158119
Pre-tax income-56.04.47.8171155202-1716048297537522,3302,292
Income tax-5.4-6.6-2003.140.344.5-36.3140189133174491480
Effective tax raten/a-149.1%-2573.8%1.8%26.0%22.0%n/a23.2%22.9%17.6%23.1%21.1%20.9%
Net income-53.047.6420189115158-1354646396205781,8431,817
Net margin-2.5%2.1%19.1%7.9%4.4%4.7%-6.2%13.8%18.0%16.6%14.7%45.0%44.3%
Diluted EPS-$0.48$0.42$3.65$1.64$1.00$1.38-$1.19$4.07$5.87$6.12$6.19$22.56$22.72
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow2903273004234355492891,010976915957977626
Capital expenditure138131160190162208175199269374400588591
Free cash flow15219614023227334111481170754155738835.1
Free cash flow margin7.1%8.8%6.4%9.7%10.4%10.3%5.2%24.1%19.9%14.5%14.2%9.5%0.9%
Cash from investing-144-127-739-226-1,135-231-171-130-422-264-4341,0431,075
Cash from financing-138-200-99.2-215746-320147-1,059-616-637-510-1,982-1,699
Depreciation and amortisation209207196218230277281268258257277303351
Share-based compensation18.519.315.517.425.425.29.237.834.132.429.732.131.7
Buybacksn/an/an/a31.959.628.011.180.8542413686778656
Dividends paidn/a0.00.011.324.728.97.80.048.263.662.758.257.6
Dividend per share$0.00$0.00$0.00$0.15$0.23$0.27n/an/a$0.60$0.64$0.68$0.72n/a
Diluted shares, weighted110m114m115m116m115m114m114m114m109m101m93m82m75m
Shares outstanding at period end109m112m113m113m112m112m112m111m103m99m86m76m73m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity4385089301,0971,1461,2651,1241,5391,5911,7441,5822,6082,501
Non-controlling interest0.10.10.10.0n/an/an/an/an/an/a0.0-0.6-3.2
Debt3,3753,2403,1993,0523,9793,7663,8973,0323,0492,9153,1772,0462,614
Operating lease liabilitiesn/an/an/an/a0.0840849816758711652554525
Other liabilities6096035415376317796898389139029821,3671,048
Total liabilities and equity4,4224,3514,6714,6865,7566,6506,5596,2246,3116,2736,3926,5756,684
Owned
Fixed assets2,2862,2252,6052,5402,7162,6732,5262,3942,3942,5432,6792,8713,010
Goodwill6856858268881,0621,0839719711,034947958958990
Intangible assets9348908828431,4671,4671,3821,3681,4271,3931,3911,4751,489
Investments0.40.40.40.50.516.216.715.813.713.312.612.311.6
Cash and equivalents145159194203249250519345283304317353323
Receivables27.225.330.440.354.754.953.589.510913813284.478.8
Inventory15.215.518.618.020.622.122.620.122.220.721.220.219.1
Other assets3293501141531861,0841,0681,0201,028914881800763
Total assets4,4224,3514,6714,6865,7566,6506,5596,2246,3116,2736,3926,5756,684
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.3%13.4%4.8%1.7%
Profit growth, compounded44.1%n/a42.3%221.9%
Return on equity, average28.6%42.6%47.6%70.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Restaurants, Hotels, Motels

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Marriott International Inc. MAR$94.2 billion37.42n/a15.8%4.7%n/a0.7%
Hilton Worldwide Holdings Inc. HLT$73.0 billion47.47n/a23.3%8.7%n/a0.2%
InterContinental Hotels Group PLC IHG *$24.2 billion32.78n/a23.1%5.4%n/a1.1%
Las Vegas Sands Corp. LVS$23.4 billion14.05297.2%21.5%18.1%23.572.8%
Hyatt Hotels Corp. H$15.4 billion194.432.4%n/a5.8%1.110.4%
Wynn Resorts Ltd. WYNN$7.8 billion18.68n/a15.7%6.4%n/a1.3%
MGM Resorts International MGM$7.6 billion18.1916.9%5.7%3.2%2.410.0%
Wyndham Hotels & Resorts, Inc. WH$5.4 billion26.9743.3%30.2%-2.1%5.532.2%
Boyd Gaming Corp. BYD$5.1 billion3.0872.7%16.4%1.7%1.051.0%
Choice Hotels International Inc. CHH$4.7 billion14.81230.9%25.2%2.6%14.081.1%
Travel & Leisure Co. TNL$3.8 billion17.11n/a13.7%4.5%n/a3.7%
Park Hotels & Resorts Inc. PK$3.1 billionn/a-5.3%2.0%-1.4%1.276.6%
All 24 in Restaurants, Hotels, Motels
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
McDonald's Corp. MCD$167.6 billion19.24n/a46.2%6.3%n/a3.0%
Starbucks Corp. SBUX$106.3 billion53.57n/a7.8%4.5%n/a2.7%
Marriott International Inc. MAR$94.2 billion37.42n/a15.8%4.7%n/a0.7%
Hilton Worldwide Holdings Inc. HLT$73.0 billion47.47n/a23.3%8.7%n/a0.2%
Chipotle Mexican Grill Inc. CMG$41.4 billion29.9864.5%14.7%7.3%0.00n/a
Yum! Brands, Inc. YUM$39.0 billion17.99n/a31.0%10.3%n/a2.0%
InterContinental Hotels Group PLC IHG *$24.2 billion32.78n/a23.1%5.4%n/a1.1%
Las Vegas Sands Corp. LVS$23.4 billion14.05297.2%21.5%18.1%23.572.8%
Darden Restaurants Inc. DRI$22.7 billion19.6057.2%11.7%8.1%0.793.0%
Hyatt Hotels Corp. H$15.4 billion194.432.4%n/a5.8%1.110.4%
Aramark ARMK$14.6 billion38.8411.3%4.4%11.0%1.800.8%
Texas Roadhouse, Inc. TXRH$10.7 billion26.0426.5%7.7%9.9%0.031.7%
Brinker International, Inc. EAT$8.0 billion17.47109.8%10.7%7.9%0.950.6%
Wynn Resorts Ltd. WYNN$7.8 billion18.68n/a15.7%6.4%n/a1.3%
MGM Resorts International MGM$7.6 billion18.1916.9%5.7%3.2%2.410.0%
Cava Group, Inc. CAVA$6.3 billion98.757.9%5.2%26.8%0.00n/a
Dutch Bros Inc. BROS$6.1 billion55.2511.6%9.6%29.6%0.25n/a
Wyndham Hotels & Resorts, Inc. WH$5.4 billion26.9743.3%30.2%-2.1%5.532.2%
Boyd Gaming Corp. BYD$5.1 billion3.0872.7%16.4%1.7%1.051.0%
Choice Hotels International Inc. CHH$4.7 billion14.81230.9%25.2%2.6%14.081.1%
Travel & Leisure Co. TNL$3.8 billion17.11n/a13.7%4.5%n/a3.7%
Wingstop Inc. WING$3.2 billion28.15n/a27.9%7.6%n/a1.0%
Park Hotels & Resorts Inc. PK$3.1 billionn/a-5.3%2.0%-1.4%1.276.6%
Hilton Grand Vacations Inc. HGV$2.7 billion19.5313.7%9.9%5.4%4.42n/a
11 companies share its SEC industry code (Hotels & Motels); the rest are the names nearest in size in its wider industry, Restaurants, Hotels, Motels, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202520 February 2026EDGAR
10-Q30 September 202531 October 2025EDGAR
10-Q30 June 202530 July 2025EDGAR
10-Q31 March 20252 May 2025EDGAR
10-K31 December 202421 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 20243 May 2024EDGAR

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