Boyd Gaming (BYD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Boyd Gaming

NYSE•Consumer Cyclical•Resorts & Casinos

$73.39-0.86(-0.01%)Market open

Market Cap

$5.67B

P/E

3.1x

P/S

1.4x

P/B

2.3x

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States and Canada. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments. It owns and operates casinos; Boyd Interactive, an online casino gaming business; and a travel agency. The company was formerly known as The Boyd Group and changed its name to Boyd Gaming Corporation in April 1993. Boyd Gaming Corporation was founded in 1975 and is headquartered in Las Vegas, Nevada.

How this company scores

GoodMetricSide Score: 68/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (10/25).

Profitability25/25

Growth19/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality10/25

Strengths

Strong marginsHigh ROERising earningsProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 3.1x5y range 3.1x – 16.8x

Currently below its 20-quarter median.

P/S · 1.4x5y range 1.4x – 2.4x

Currently near its 20-quarter median.

P/B · 2.3x5y range 2.3x – 4.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 28.6% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $5.67B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.10B
Q. Revenue: $1.03B
TTM EBITDA: $1.02B
TTM Op. Income: $670.84M
Q. Op. Income: $200.70M
TTM Net Income: $1.82B
Q. Net Income: $131.23M
EPS: $1.75
Shares Out.: $74.82M

$4.10B in TTM revenue grew 1.7% YoY, reaching $1.03B last quarter. TTM EBITDA of $1.02B and TTM operating income of $670.84M show growth is flowing through to the bottom line. TTM net income of $1.82B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 28.2%
Op. Margin: 19.4%
Net Margin: 12.7%

Op. margin of 19.4% is down 4.0% YoY — costs are rising relative to revenue. Net margin at 12.7% Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 3.1x
P/S Ratio: 1.4x
P/B Ratio: 2.3x

At 3.1x P/E, the stock trades below typical market levels. P/S of 1.4x and P/B of 2.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 4 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $6.68B
Cash: $322.71M
Long-Term Debt: $2.61B
Book Value: $2.50B
D/E Ratio: 1.0
Debt/EBITDA: 9.0

With $6.68B in assets and $2.61B in long-term debt, D/E is 1.0and book value is $2.50B — moderate leverage. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-23.53M
TTM Free Cash Flow: $35.06M
FCF Margin: 0.9%
FCF / Net Income: 0.0

TTM FCF of $35.06M on $-23.53M in operating cash flow. The FCF / Net Income ratio of 0.0x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 6 consecutive quarters — a weakening trend.