Health score, competitive moat, risk signals, and key metrics at a glance.
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.
Competitive analysis based on 60 quarters of fundamental data
Operating margins are positive at ~20.1% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 48.9% suggests a durable competitive advantage and efficient capital allocation.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~8.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 60 quarters
Operating margins dropped 24.2% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.9 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 19.2% — net buybacks are reducing shares outstanding and boosting per-share value.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
