BOYD GAMING CORP BYD

Consumer discretionary SIC 7011 - Hotels & Motels NAICS Accommodation and Food Services › Accommodation › Traveler Accommodation derived NYSE

Boyd Gaming Corporation (the "Company," the "Registrant," "Boyd Gaming," "we" or "us") is a multi-jurisdictional gaming company that has been in operation since 1975. Headquartered in Las Vegas, we operate 27 brick-and-mortar gaming entertainment properties ("gaming entertainment properties") in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, Pennsylvania and Virginia. In addition, we own and operate Boyd Interactive, a business-to-business ("B2B") and business-to-consumer ("B2C") online casino gaming business in the United States and Canada. Through a management agreement with Wilton Rancheria, we also manage the Sky River Casino, which is located in California. On November 7, 2025, the Company, as developer and manager, opened a transitional casino in Norfolk, Virginia. The permanent casino resort is expected to open in late 2027. On November 9, 2025, the Company permanently closed the Sam's Town Tunica property.

Last close 71.69 2026-10-23
Market cap $5.21B 2026-06-30 share count
52-week range 65.00 - 91.41

Valuation FY2025 figures against the last close

P/S1.3x
P/E3.2x
P/FCF13.4x
EV/EBITDA6.6x
Dividend yield1.1%
Diluted EPS22.56

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.09B$3.93B$3.74B$3.56B$3.37B$2.18B$3.33B$2.63B$2.40B$2.20B
SG&A $433.1M$427.2M$389.9M$374.0M$366.2M$350.4M$459.6M$369.3M$362.0M$322.3M
Total operating expenses $3.34B$3.00B$2.84B$2.57B$2.47B$2.16B$2.85B$2.27B$2.06B$1.94B
Operating income $748.4M$927.8M$901.8M$981.2M$900.1M$14.3M$472.6M$355.3M$343.8M$260.4M
Interest expense $157.6M$177.4M$171.2M$151.2M$199.4M$230.5M$237.5M$204.2M$173.1M$212.7M
Pre-tax income $2.33B$752.0M$752.9M$828.8M$603.9M-$171.0M$202.1M$155.0M$171.1M$7.8M
Income tax $490.8M$174.1M$132.9M$189.4M$140.1M$36.3M$44.5M$40.3M$3.1M$199.9M
Net income $1.84B$578.0M$620.0M$639.4M$463.8M-$134.7M$157.6M$115.0M$189.4M$420.2M
EPS, basic 22.566.196.125.874.07-1.191.391.011.653.67
EPS, diluted 22.566.196.125.874.07-1.191.381.001.643.65
Shares, diluted (wtd. avg.) 81.7M93.3M101.4M109.0M114.1M113.5M113.9M115.1M115.6M115.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $353.4M$316.7M$304.3M$283.5M$344.6M$519.2M$250.0M$249.4M$203.1M$193.9M
Short-term investments $800.0K$800.0K$700.0K$700.0K$600.0K$600.0K$600.0K$500.0K——
Receivables $84.4M$132.3M$137.9M$109.1M$89.5M$53.5M$54.9M$54.7M$40.3M$30.4M
Inventory $20.2M$21.2M$20.7M$22.2M$20.1M$22.6M$22.1M$20.6M$18.0M$18.6M
Total current assets $530.7M$561.5M$529.3M$478.2M$507.8M$650.3M$399.5M$399.8M$328.7M$307.9M
Property, plant and equipment $2.87B$2.68B$2.54B$2.39B$2.39B$2.53B$2.67B$2.72B$2.54B$2.61B
Goodwill $958.0M$957.9M$947.3M$1.03B$971.3M$971.3M$1.08B$1.06B$888.2M$826.5M
Other intangibles $1.47B$1.39B$1.39B$1.43B$1.37B$1.38B$1.47B$1.47B$842.9M$882.0M
Total assets $6.57B$6.39B$6.27B$6.31B$6.22B$6.56B$6.65B$5.76B$4.69B$4.67B
Accounts payable $151.3M$131.3M$124.7M$129.9M$102.0M$96.9M$91.0M$111.2M$106.3M$84.1M
Short-term debt $0$44.0M$44.3M$44.3M$41.7M$30.7M$27.0M$24.2M$24.0M$30.3M
Total current liabilities $979.2M$622.7M$596.3M$586.1M$557.0M$524.0M$556.9M$469.7M$385.5M$372.0M
Long-term debt $2.05B$3.13B$2.87B$3.01B$2.99B$3.87B$3.74B$3.96B$3.05B$3.20B
Retained earnings $2.61B$1.58B$1.74B$1.29B$710.1M$246.2M$380.9M$253.4M$164.4M-$23.8M
Total equity $2.61B$1.58B$1.74B$1.59B$1.54B$1.12B$1.27B$1.15B$1.10B$930.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $976.7M$957.1M$914.5M$976.1M$1.01B$289.0M$549.0M$434.5M$422.6M$300.3M
Depreciation and amortisation $302.7M$276.6M$256.8M$258.2M$267.8M$281.0M$276.6M$230.0M$217.5M$179.6M
Stock-based compensation $32.1M$29.7M$32.4M$34.1M$37.8M$9.2M$25.2M$25.4M$17.4M$15.5M
Capital expenditure $588.2M$400.4M$373.9M$269.2M$199.5M$175.0M$207.6M$161.5M$190.5M$160.4M
Investing cash flow $1.04B-$433.9M-$264.3M-$422.3M-$129.6M-$171.2M-$231.4M-$1.14B-$226.0M-$738.9M
Financing cash flow -$1.98B-$509.5M-$637.2M-$615.9M-$1.06B$146.7M-$320.3M$746.2M-$215.3M-$99.2M
Dividends paid $58.2M$62.7M$63.6M$48.2M$0$7.8M$28.9M$24.7M$11.3M$0
Buybacks $778.3M$685.9M$412.7M$541.6M$80.8M$11.1M$28.0M$59.6M$31.9M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-004908.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 2.2B Net income, FY2016: 420.2M Revenue, FY2017: 2.4B Net income, FY2017: 189.4M Revenue, FY2018: 2.6B Net income, FY2018: 115M Revenue, FY2019: 3.3B Net income, FY2019: 157.6M Revenue, FY2020: 2.2B Net income, FY2020: -134.7M Revenue, FY2021: 3.4B Net income, FY2021: 463.8M Revenue, FY2022: 3.6B Net income, FY2022: 639.4M Revenue, FY2023: 3.7B Net income, FY2023: 620M Revenue, FY2024: 3.9B Net income, FY2024: 578M Revenue, FY2025: 4.1B Net income, FY2025: 1.8B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.20B $2.40B $2.63B $3.33B $2.18B $3.37B $3.56B $3.74B $3.93B $4.09B
Gross profit — — — — — — — — — —
Net income $420.2M $189.4M $115.0M $157.6M -$134.7M $463.8M $639.4M $620.0M $578.0M $1.84B

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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