Stocktoria

BOYD GAMING CORP BYD

NYSE · stock · Hotels & Motels · website · IPO 1993-10-15 · LEI

BOYD GAMING CORP statistics & valuation

Market cap$6.7B
P / E3.6×
P / S1.6×
P / B2.6×
P / FCF17.2×
Dividend yield0.87%
Net margin45.0%
Return on equity70.7%
FCF margin9.5%
Net debt$1.7B
Net debt / EBITDA1.6×
Enterprise value USD$8.4B
EV / EBITDA8×
Earnings yield EBIT/EV9%
Return on capital13.4%
Graham number +53.4%$127.29

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($127.29); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
19.10% 7.90% 4.40% 4.70% -6.20% 13.80% 18.00% 16.60% 14.70% 45.00% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
11.80% 14.30% 13.50% 14.20% 0.70% 26.70% 27.60% 24.10% 23.60% 18.30% 2016201720182019202020212022202320242025
Return on equity (%)
45.20% 17.30% 10.00% 12.50% -12.00% 30.10% 40.20% 35.50% 36.50% 70.70% 2016201720182019202020212022202320242025
Shares outstanding
115.2M 115.6M 115.1M 113.9M 113.5M 114.1M 109.0M 101.4M 93.3M 81.7M 2016201720182019202020212022202320242025
Net debt ($)
$3.01B $2.85B $3.73B $3.52B $3.38B $2.69B $2.77B $2.61B $2.86B $1.69B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
9.00% 4.00% 2.00% 2.40% -2.10% 7.50% 10.10% 9.90% 9.00% 28.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
6.40% 9.70% 10.40% 10.30% 5.20% 24.10% 19.90% 14.50% 14.20% 9.50% 2016201720182019202020212022202320242025
Debt / equity (×)
3.44× 2.78× 3.47× 2.98× 3.47× 1.97× 1.92× 1.67× 2.01× 0.78× 2016201720182019202020212022202320242025
EPS ($)
$3.65 $1.64 $1.00 $1.38 -$1.19 $4.07 $5.87 $6.12 $6.19 $22.56 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BOYD GAMING CORP trades at about 3.7× earnings — below its 10-year norm (10-year range 3.7×–42.4×, median 14.6×).

3.7× 42.4×

Shaded band = 10-year range (3.7×–42.4×); dot = today's 3.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin18.3%23.6%24.1%27.6%26.7%0.7%14.2%13.5%14.3%11.8%
Net margin45.0%14.7%16.6%18.0%13.8%-6.2%4.7%4.4%7.9%19.1%
FCF margin9.5%14.2%14.5%19.9%24.1%5.2%10.3%10.4%9.7%6.4%
Return on assets28.0%9.0%9.9%10.1%7.5%-2.1%2.4%2.0%4.0%9.0%
Return on equity70.7%36.5%35.5%40.2%30.1%-12.0%12.5%10.0%17.3%45.2%
Debt / equity0.78×2.01×1.67×1.92×1.97×3.47×2.98×3.47×2.78×3.44×
Current ratio0.540.900.890.820.911.240.720.850.850.84

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.