InsiderClue
Stocks · Consumer discretionary · Hotels & Motels

BOYD GAMING CORP

BYD Clue Score54
United States Fiscal year ends December CIK 0000906553
$68.93 -1.53% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $68.93 +7.70% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,199.3Operating income260.4Net income420.2EPS, diluted3.65Fiscal year 2017Revenue2,400.8 +9.2%Operating income343.8Net income189.4 −54.9%EPS, diluted1.64 −55.1%Fiscal year 2018Revenue2,626.7 +9.4%Operating income355.3Net income115.0 −39.3%EPS, diluted1.00 −39.0%Fiscal year 2019Revenue3,326.1 +26.6%Operating income472.6Net income157.6 +37.0%EPS, diluted1.38 +38.0%Fiscal year 2020Revenue2,178.5 −34.5%Operating income14.3Net income−134.7 −185.5%EPS, diluted−1.19 −186.2%Fiscal year 2021Revenue3,369.8 +54.7%Operating income900.1Net income463.8EPS, diluted4.07Fiscal year 2022Revenue3,555.4 +5.5%Operating income981.2Net income639.4 +37.8%EPS, diluted5.87 +44.2%Fiscal year 2023Revenue3,738.5 +5.2%Operating income901.8Net income620.0 −3.0%EPS, diluted6.12 +4.3%Fiscal year 2024Revenue3,930.2 +5.1%Operating income927.8Net income578.0 −6.8%EPS, diluted6.19 +1.1%Fiscal year 2025Revenue4,092.0 +4.1%Operating income748.4Net income1,843.3 +218.9%EPS, diluted22.56 +264.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,199.3 2,400.8 2,626.7 3,326.1 2,178.5 3,369.8 3,555.4 3,738.5 3,930.2 4,092.0
Growth +9.2% +9.4% +26.6% −34.5% +54.7% +5.5% +5.2% +5.1% +4.1%
Operating income 260.4 343.8 355.3 472.6 14.3 900.1 981.2 901.8 927.8 748.4
Net income 420.2 189.4 115.0 157.6 −134.7 463.8 639.4 620.0 578.0 1,843.3
Growth −54.9% −39.3% +37.0% −185.5% +37.8% −3.0% −6.8% +218.9%
EPS, diluted 3.65 1.64 1.00 1.38 −1.19 4.07 5.87 6.12 6.19 22.56
Growth −55.1% −39.0% +38.0% −186.2% +44.2% +4.3% +1.1% +264.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin11.8%Net margin19.1%Free cash flow margin6.4%Fiscal year 2017Operating margin14.3%Net margin7.9%Free cash flow margin9.7%Fiscal year 2018Operating margin13.5%Net margin4.4%Free cash flow margin10.4%Fiscal year 2019Operating margin14.2%Net margin4.7%Free cash flow margin10.3%Fiscal year 2020Operating margin0.7%Net margin−6.2%Free cash flow margin5.2%Fiscal year 2021Operating margin26.7%Net margin13.8%Free cash flow margin24.1%Fiscal year 2022Operating margin27.6%Net margin18.0%Free cash flow margin19.9%Fiscal year 2023Operating margin24.1%Net margin16.6%Free cash flow margin14.5%Fiscal year 2024Operating margin23.6%Net margin14.7%Free cash flow margin14.2%Fiscal year 2025Operating margin18.3%Net margin45.0%Free cash flow margin9.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 11.8% 14.3% 13.5% 14.2% 0.7% 26.7% 27.6% 24.1% 23.6% 18.3%
Net margin 19.1% 7.9% 4.4% 4.7% −6.2% 13.8% 18.0% 16.6% 14.7% 45.0%
Free cash flow margin 6.4% 9.7% 10.4% 10.3% 5.2% 24.1% 19.9% 14.5% 14.2% 9.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow300.3Capital expenditure−160.4Free cash flow140.0Dividends paid0.0Fiscal year 2017Operating cash flow422.6Capital expenditure−190.5Free cash flow232.1 +65.8%Buybacks−31.9Dividends paid−11.3Fiscal year 2018Operating cash flow434.5Capital expenditure−161.5Free cash flow273.0 +17.6%Buybacks−59.6Dividends paid−24.7Fiscal year 2019Operating cash flow549.0Capital expenditure−207.6Free cash flow341.4 +25.0%Buybacks−28.0Dividends paid−28.9Fiscal year 2020Operating cash flow289.0Capital expenditure−175.0Free cash flow114.0 −66.6%Buybacks−11.1Dividends paid−7.8Fiscal year 2021Operating cash flow1,010.4Capital expenditure−199.5Free cash flow811.0 +611.4%Buybacks−80.8Dividends paid0.0Fiscal year 2022Operating cash flow976.1Capital expenditure−269.2Free cash flow707.0 −12.8%Buybacks−541.6Dividends paid−48.2Fiscal year 2023Operating cash flow914.5Capital expenditure−374.0Free cash flow540.6 −23.5%Buybacks−412.7Dividends paid−63.6Fiscal year 2024Operating cash flow957.1Capital expenditure−400.4Free cash flow556.7 +3.0%Buybacks−685.9Dividends paid−62.7Fiscal year 2025Operating cash flow976.7Capital expenditure−588.2Free cash flow388.5 −30.2%Buybacks−778.3Dividends paid−58.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 300.3 422.6 434.5 549.0 289.0 1,010.4 976.1 914.5 957.1 976.7
Capital expenditure −160.4 −190.5 −161.5 −207.6 −175.0 −199.5 −269.2 −374.0 −400.4 −588.2
Free cash flow 140.0 232.1 273.0 341.4 114.0 811.0 707.0 540.6 556.7 388.5
Growth +65.8% +17.6% +25.0% −66.6% +611.4% −12.8% −23.5% +3.0% −30.2%
Buybacks n/a −31.9 −59.6 −28.0 −11.1 −80.8 −541.6 −412.7 −685.9 −778.3
Dividends paid 0.0 −11.3 −24.7 −28.9 −7.8 0.0 −48.2 −63.6 −62.7 −58.2

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash193.9Total debt3,229.5Net cash (debt)−3,035.6Shareholders’ equity930.2Debt to equity3.47Fiscal year 2017Cash203.1Total debt3,075.9Net cash (debt)−2,872.8Shareholders’ equity1,097.2Debt to equity2.80Fiscal year 2018Cash249.4Total debt3,979.3Net cash (debt)−3,729.9Shareholders’ equity1,145.7Debt to equity3.47Fiscal year 2019Cash250.0Total debt3,765.9Net cash (debt)−3,516.0Shareholders’ equity1,265.2Debt to equity2.98Fiscal year 2020Cash519.2Total debt3,897.5Net cash (debt)−3,378.3Shareholders’ equity1,123.9Debt to equity3.47Fiscal year 2021Cash344.6Total debt3,031.6Net cash (debt)−2,687.0Shareholders’ equity1,538.7Debt to equity1.97Fiscal year 2022Cash283.5Total debt3,049.4Net cash (debt)−2,765.9Shareholders’ equity1,590.6Debt to equity1.92Fiscal year 2023Cash304.3Total debt2,915.5Net cash (debt)−2,611.2Shareholders’ equity1,744.1Debt to equity1.67Fiscal year 2024Cash316.7Total debt3,176.6Net cash (debt)−2,859.9Shareholders’ equity1,581.5Debt to equity2.01Fiscal year 2025Cash353.4Total debt2,045.6Net cash (debt)−1,692.2Shareholders’ equity2,608.5Debt to equity0.78
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 193.9 203.1 249.4 250.0 519.2 344.6 283.5 304.3 316.7 353.4
Total debt 3,229.5 3,075.9 3,979.3 3,765.9 3,897.5 3,031.6 3,049.4 2,915.5 3,176.6 2,045.6
Net cash (debt) −3,035.6 −2,872.8 −3,729.9 −3,516.0 −3,378.3 −2,687.0 −2,765.9 −2,611.2 −2,859.9 −1,692.2
Shareholders’ equity 930.2 1,097.2 1,145.7 1,265.2 1,123.9 1,538.7 1,590.6 1,744.1 1,581.5 2,608.5
Debt to equity 3.47 2.80 3.47 2.98 3.47 1.97 1.92 1.67 2.01 0.78

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
11.8% 14.3% 13.5% 14.2% 0.7% 26.7% 27.6% 24.1% 23.6% 18.3%
0.4% 7.1% 5.9% 6.1% −7.9% 17.9% 23.3% 20.1% 19.1% 56.9%
19.1% 7.9% 4.4% 4.7% −6.2% 13.8% 18.0% 16.6% 14.7% 45.0%
6.4% 9.7% 10.4% 10.3% 5.2% 24.1% 19.9% 14.5% 14.2% 9.5%
Spending
14.7% 15.1% 14.1% 13.8% 16.1% 10.9% 10.5% 10.4% 10.9% 10.6%
7.3% 7.9% 6.2% 6.2% 8.0% 5.9% 7.6% 10.0% 10.2% 14.4%
−2,573.8% 1.8% 26.0% 22.0% n/a 23.2% 22.9% 17.6% 23.1% 21.1%
Returns
45.2% 17.3% 10.0% 12.5% −12.0% 30.1% 40.2% 35.5% 36.5% 70.7%
9.0% 4.0% 2.0% 2.4% −2.1% 7.5% 10.1% 9.9% 9.0% 28.0%
Balance and payout
3.47 2.80 3.47 2.98 3.47 1.97 1.92 1.67 2.01 0.78
0.0% 6.0% 21.5% 18.4% n/a 0.0% 7.5% 10.3% 10.8% 3.2%
0.0% 18.6% 30.9% 16.7% 16.6% 10.0% 83.4% 88.1% 134.5% 215.3%