Boyd Gaming (BYD) AI Stock Analysis

• Market Cap: $6.32B
• Dividend Yield: 0.9%
• Average Volume (3M): 902.83K
• Price to Earnings (P/E): 3.4
• Beta (1Y): 0.88
• Revenue Growth: 5.91%
• EPS Growth: 336.91%
• Country: US
• Employees: 16,129
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 1.72
• Shares Outstanding: 80,184,204
• 10 Day Avg. Volume: 1,068,916
• 30 Day Avg. Volume: 902,826
• PEG Ratio: 10.24
• Price to Book (P/B): 4.28
• Price to Sales (P/S): 1.72
• P/FCF Ratio: 12.16
• Enterprise Value/Market Cap: 1.41
• Enterprise Value/Revenue: 2.21
• Enterprise Value/Gross Profit: 4.28
• Enterprise Value/Ebitda: 7.33
• 1Y Price Target: $90.14
• Price Target Upside: 13.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 71 Outperform
• Price Target: $87.00 ▲(9.30% Upside)

Boyd Gaming's overall stock score reflects strong financial performance and attractive valuation, offset by bearish technical indicators. The positive earnings call further supports the company's strategic direction, despite challenges in specific segments. Investors should consider the high leverage and recent cash flow trends when evaluating the stock.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, enhancing long-term financial stability.

Strong Shareholder Returns

Robust shareholder returns reflect strong cash flow management and commitment to enhancing shareholder value, supporting investor confidence.

Capital Investments

Strategic capital investments in property expansions are likely to drive future revenue growth and strengthen competitive positioning.

Negative Factors

High Leverage

High leverage can increase financial risk and limit flexibility, potentially impacting the company's ability to invest in growth opportunities.

Decline in Free Cash Flow

A decline in free cash flow may constrain the company's ability to fund new projects or return capital to shareholders, affecting growth prospects.

Challenges in Destination Business

Weakness in the destination business could hinder revenue growth and profitability, especially in competitive markets like Las Vegas.

Boyd Gaming Business Overview & Revenue Model

Company Description

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. It also engages in owning and operating a travel agency. The company was founded in 1975 and is headquartered in Las Vegas, Nevada.

How the Company Makes Money

Boyd Gaming generates revenue through multiple streams, primarily from its casino operations, which include gaming revenue from slot machines, table games, and poker. The company also earns money from hotel accommodations, dining services, and entertainment options offered at its properties. A significant portion of revenue comes from its loyalty program, B Connected, which incentivizes repeat visits and increases customer retention. Additionally, Boyd Gaming has expanded into the online gaming and sports betting markets, contributing to its earnings through digital platforms and partnerships. The company's strategic partnerships, particularly in states where online gaming and sports betting are legal, further enhance its revenue potential and market presence.

Boyd Gaming Financial Statement Overview

Summary

Boyd Gaming demonstrates solid financial performance with consistent revenue growth and strong profitability metrics. However, the high leverage and recent decline in free cash flow growth present potential risks. Overall, the company is in a stable financial position but should monitor its debt levels and cash flow trends closely.

Income Statement

Boyd Gaming has shown consistent revenue growth over the years, with a TTM revenue growth rate of 1.68%. The company maintains healthy margins, with a gross profit margin of 51.6% and a net profit margin of 13.99% in the TTM. However, there has been a slight decline in margins compared to previous years, indicating potential pressure on profitability.

Balance Sheet

The company has a high debt-to-equity ratio of 3.06 in the TTM, indicating significant leverage. While the return on equity is strong at 37.82%, the high leverage poses a risk. The equity ratio is relatively stable, suggesting a balanced asset structure.

Cash Flow

Operating cash flow remains robust, with a coverage ratio of 1.52 in the TTM. However, free cash flow has declined by 3.76% in the TTM, which could impact future investments. The free cash flow to net income ratio is moderate at 0.49, indicating reasonable cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.03B	3.93B	3.74B	3.56B	3.37B	2.18B
Gross Profit	2.08B	2.05B	2.02B	1.99B	1.94B	1.14B
EBITDA	1.21B	1.21B	1.18B	1.24B	1.07B	340.50M
Net Income	563.44M	577.95M	620.02M	639.38M	463.85M	-134.70M
Balance Sheet
Total Assets	6.56B	6.39B	6.27B	6.31B	6.22B	6.56B
Cash, Cash Equivalents and Short-Term Investments	320.11M	316.69M	304.27M	283.47M	344.56M	519.18M
Total Debt	4.26B	3.93B	3.73B	3.90B	3.93B	4.84B
Total Liabilities	5.16B	4.81B	4.53B	4.72B	4.69B	5.44B
Stockholders Equity	1.39B	1.58B	1.74B	1.59B	1.54B	1.12B
Cash Flow
Free Cash Flow	463.98M	556.67M	540.57M	706.96M	810.96M	114.00M
Operating Cash Flow	954.67M	957.08M	914.52M	976.11M	1.01B	289.03M
Investing Cash Flow	-604.27M	-433.91M	-264.33M	-422.31M	-129.58M	-171.18M
Financing Cash Flow	-308.76M	-509.50M	-637.25M	-615.85M	-1.06B	146.70M

Boyd Gaming Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 79.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BYD, the sentiment is Negative. The current price of 79.6 is below the 20-day moving average (MA) of 83.51, below the 50-day MA of 84.33, and above the 200-day MA of 76.85, indicating a neutral trend. The MACD of -0.91 indicates Positive momentum. The RSI at 37.88 is Neutral, neither overbought nor oversold. The STOCH value of 36.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BYD.

Boyd Gaming Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CHDN	―	$7.04B	18.40	37.56%	0.39%	7.97%	-0.14%
BYD	―	$6.32B	3.44	―	0.90%	5.91%	336.91%
RRR	―	$6.23B	22.49	97.52%	3.42%	7.47%	2.58%
MGM	―	$8.93B	18.08	17.34%	―	0.89%	-31.56%
Sector *	―	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CZR	―	$4.62B	-24.38	-4.76%	―	-0.15%	28.05%
WYNN	―	$13.06B	37.04	―	0.80%	-1.94%	-53.90%

Boyd Gaming Corporate Events

Boyd Gaming Corp’s Earnings Call Highlights Strong Growth

Boyd Gaming Corp’s recent earnings call painted a generally positive picture of the company’s financial health and strategic direction. The call highlighted strong financial performance and strategic investments that are yielding returns, although challenges were noted in specific segments like Downtown Las Vegas. The focus on core customer growth and capital returns to shareholders were emphasized as key strengths.

Boyd Gaming Reports Strong Q3 2025 Earnings

Boyd Gaming Corporation, a prominent player in the gaming and entertainment industry, operates 28 gaming properties across 10 states and manages an online casino gaming business.

Boyd Gaming Reports Cybersecurity Incident

Boyd Gaming Corporation recently experienced a cybersecurity incident where an unauthorized third party accessed its internal IT system. The incident did not affect the company’s properties or business operations, and Boyd Gaming has taken steps to address the breach with the help of cybersecurity experts and law enforcement. Although some data, including employee information, was removed, the company believes there will be no material adverse effect on its financial condition. Boyd Gaming has a comprehensive cybersecurity insurance policy expected to cover associated costs.

The most recent analyst rating on (BYD) stock is a Buy with a $95.00 price target. To see the full list of analyst forecasts on Boyd Gaming stock, see the BYD Stock Forecast page.

Boyd Gaming Announces Cash Dividend Declaration

On August 12, 2025, Boyd Gaming Corporation’s Board of Directors announced a cash dividend of $0.18 per share. This dividend will be payable on October 15, 2025, to shareholders who are recorded by September 15, 2025.

The most recent analyst rating on (BYD) stock is a Buy with a $100.00 price target. To see the full list of analyst forecasts on Boyd Gaming stock, see the BYD Stock Forecast page.

Boyd Gaming Completes Sale of FanDuel Stake

On July 31, 2025, Boyd Gaming Corporation announced the completion of the sale of its 5% equity interest in FanDuel Group to Flutter Entertainment for $1.758 billion. The proceeds from this transaction will be used to repay existing debt, invest in properties, pursue growth opportunities, and return capital to shareholders, thereby maintaining a strong balance sheet and strategic focus.

The most recent analyst rating on (BYD) stock is a Hold with a $74.00 price target. To see the full list of analyst forecasts on Boyd Gaming stock, see the BYD Stock Forecast page.

Boyd Gaming’s Earnings Call: Strategic Growth Amid Challenges

Boyd Gaming Corp’s recent earnings call painted a picture of optimism and strategic growth, despite some challenges. The company highlighted a successful transaction with FanDuel, robust revenue and EBITDAR growth, and a strategic capital return program. However, it also acknowledged some hurdles, such as softness in certain segments and external impacts like flood-related closures.

Boyd Gaming Reports Strong Q2 2025 Performance

Boyd Gaming Corporation is a leading operator in the gaming and entertainment industry, managing 28 properties across 10 states and an online casino gaming business. Known for its diversified operations, Boyd Gaming offers a comprehensive gaming experience to its customers.