Boyd Gaming
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
12.6711.83
Price/Sales ratio
2.492.45
Earnings per Share (EPS)
$6.61$7.09

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-26.4947.445.5221.2720.6621.55-36.1616.099.2810.2313.3021.55
Price/Sales ratio
0.521.011.051.670.901.022.232.211.671.691.660.90
Price/Book Value ratio
3.204.412.473.672.072.684.334.853.733.634.072.07
Price/Cash Flow ratio
4.356.598.399.545.476.1816.857.386.086.937.295.47
Price/Free Cash Flow ratio
8.1010.7320.1317.398.709.9542.739.208.3911.7312.118.70
Price/Earnings Growth ratio
0.62-0.250.00-0.38-0.530.570.19-0.030.202.400.10-0.53
Dividend Yield
N/AN/AN/A0.28%1.04%0.85%0.16%N/A0.81%1.00%0.93%0.85%
Profitability Indicator Ratios
Gross Profit Margin
45.41%45.85%46.34%47.35%47.79%47.80%52.39%57.49%55.97%53.99%52.55%47.79%
Operating Profit Margin
9.31%15.66%11.93%14.32%13.52%14.20%10.83%26.71%27.59%24.12%24.33%13.52%
Pretax Profit Margin
-1.51%1.82%0.36%7.12%5.90%6.07%-7.85%17.92%23.31%20.13%16.88%5.90%
Net Profit Margin
-1.96%2.14%19.13%7.88%4.37%4.73%-6.18%13.76%17.98%16.58%13.00%4.37%
Effective Tax Rate
-1.84%-17.90%-2472.59%1.82%26.01%22.01%21.23%23.19%22.85%17.64%22.97%22.01%
Return on Assets
-1.18%1.08%8.94%4.04%1.99%2.37%-2.05%7.45%10.13%9.88%7.93%1.99%
Return On Equity
-12.10%9.29%44.75%17.26%10.04%12.45%-11.98%30.14%40.19%35.54%29.23%10.04%
Return on Capital Employed
6.10%8.62%6.05%7.99%6.72%7.75%3.90%15.88%17.13%15.88%16.43%6.72%
Liquidity Ratios
Current Ratio
0.670.720.840.860.850.711.24N/AN/AN/A0.820.71
Quick Ratio
0.630.680.790.800.800.671.190.870.770.850.780.67
Cash ratio
0.400.440.530.520.530.440.990.610.480.510.460.44
Days of Sales Outstanding
3.844.425.486.918.356.638.959.6911.4513.809.828.35
Days of Inventory outstanding
3.754.735.785.195.484.647.955.115.174.394.084.64
Operating Cycle
7.609.1611.2612.1113.8311.2816.9114.8116.6218.1913.9113.83
Days of Payables Outstanding
21.0623.2326.1930.7029.5819.1334.0925.9930.3026.4523.7519.13
Cash Conversion Cycle
-13.46-14.06-14.92-18.58-15.75-7.84-17.17-11.18-13.67-8.26-9.84-15.75
Debt Ratios
Debt Ratio
0.770.750.690.650.690.690.720.610.600.460.480.69
Debt Equity Ratio
7.906.433.452.803.473.644.222.502.391.671.883.64
Long-term Debt to Capitalization
0.880.860.770.730.770.780.800.710.700.620.640.78
Total Debt to Capitalization
0.880.860.770.730.770.780.800.710.700.620.650.78
Interest Coverage Ratio
1.101.611.401.981.741.990.81N/AN/AN/A5.381.74
Cash Flow to Debt Ratio
0.090.100.080.130.100.110.060.260.250.310.290.10
Company Equity Multiplier
10.228.565.004.275.025.255.834.043.963.593.865.25
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.110.150.120.170.160.160.130.290.270.240.230.16
Free Cash Flow / Operating Cash Flow Ratio
0.530.610.410.540.620.620.390.800.720.590.570.62
Cash Flow Coverage Ratio
0.090.100.080.130.100.110.060.260.250.310.290.10
Short Term Coverage Ratio
10.8511.429.0617.5917.9620.339.4024.2422.0420.6520.5617.96
Dividend Payout Ratio
N/AN/AN/A5.95%21.49%18.36%-5.79%N/A7.53%10.25%12.66%18.36%