BOYD GAMING CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 53.18 USD | -15.44% |
|
-15.13% | -15.06% |
| Apr. 26 | Boyd Gaming Shares Fall as JP Morgan, Deutsche Bank Downgrades Follow Q1 Results | MT |
| Apr. 26 | Sector Update: Consumer Stocks Mixed Pre-Bell Friday | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,328 | 4,787 | 7,367 | 5,692 | 6,127 | 5,091 | - | - |
| Enterprise Value (EV) 1 | 6,844 | 8,166 | 10,054 | 8,458 | 6,127 | 7,710 | 7,662 | 7,529 |
| P/E ratio | 21.7 x | -36.1 x | 16.1 x | 9.29 x | 10.2 x | 8.64 x | 8 x | 7.84 x |
| Yield | 0.9% | - | - | 1.1% | - | 1.26% | 1.26% | 1.28% |
| Capitalization / Revenue | 1 x | 2.2 x | 2.19 x | 1.6 x | 1.64 x | 1.37 x | 1.35 x | 1.32 x |
| EV / Revenue | 2.06 x | 3.75 x | 2.98 x | 2.38 x | 1.64 x | 2.07 x | 2.03 x | 1.95 x |
| EV / EBITDA | 8.57 x | 16.1 x | 7.97 x | 6.59 x | 4.76 x | 6.4 x | 6.25 x | 6.01 x |
| EV / FCF | 18.4 x | 71.6 x | 12.4 x | 12 x | - | 15.2 x | 13.5 x | 12.6 x |
| FCF Yield | 5.45% | 1.4% | 8.07% | 8.36% | - | 6.59% | 7.42% | 7.94% |
| Price to Book | 2.64 x | 4.26 x | 4.85 x | 3.52 x | - | 2.55 x | 2.14 x | 1.52 x |
| Nbr of stocks (in thousands) | 111,165 | 111,540 | 112,346 | 104,375 | 97,862 | 95,731 | - | - |
| Reference price 2 | 29.94 | 42.92 | 65.57 | 54.53 | 62.61 | 53.18 | 53.18 | 53.18 |
| Announcement Date | 2/20/20 | 2/16/21 | 2/3/22 | 2/2/23 | 2/8/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,326 | 2,178 | 3,370 | 3,555 | 3,738 | 3,717 | 3,774 | 3,853 |
| EBITDA 1 | 799 | 508 | 1,261 | 1,284 | 1,286 | 1,205 | 1,225 | 1,253 |
| EBIT 1 | 472.6 | 189 | 900.1 | 981.2 | 901.8 | 915.6 | 929.1 | 947.7 |
| Operating Margin | 14.21% | 8.67% | 26.71% | 27.6% | 24.12% | 24.63% | 24.62% | 24.59% |
| Earnings before Tax (EBT) 1 | 202.1 | -171 | 603.9 | 828.8 | 752.9 | 764.1 | 777.8 | 818.4 |
| Net income 1 | 157.6 | -134.7 | 463.8 | 639.4 | 620 | 590.5 | 597.1 | 630 |
| Net margin | 4.74% | -6.18% | 13.76% | 17.98% | 16.58% | 15.88% | 15.82% | 16.35% |
| EPS 2 | 1.380 | -1.190 | 4.070 | 5.870 | 6.120 | 6.153 | 6.645 | 6.785 |
| Free Cash Flow 1 | 372.9 | 114 | 811 | 707 | - | 508.1 | 568.8 | 597.5 |
| FCF margin | 11.21% | 5.23% | 24.07% | 19.88% | - | 13.67% | 15.07% | 15.51% |
| FCF Conversion (EBITDA) | 46.67% | 22.44% | 64.3% | 55.06% | - | 42.18% | 46.43% | 47.68% |
| FCF Conversion (Net income) | 236.54% | - | 174.83% | 110.57% | - | 86.06% | 95.26% | 94.83% |
| Dividend per Share 2 | 0.2700 | - | - | 0.6000 | - | 0.6699 | 0.6700 | 0.6800 |
| Announcement Date | 2/20/20 | 2/16/21 | 2/3/22 | 2/2/23 | 2/8/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 843.1 | 879.8 | 860.7 | 894.4 | 877.3 | 922.9 | 964 | 917 | 903.2 | 954.4 | 960.5 | 908.7 | 898.2 | 951.9 | 991.2 |
| EBITDA 1 | 314.4 | 321 | 312.5 | 327.2 | 310.9 | 333.3 | 340.3 | 324.3 | 293.6 | 328.2 | 303.3 | 301.2 | 284.9 | 315.3 | 316.6 |
| EBIT 1 | 223.1 | 216.9 | 251.1 | 245.1 | 237.5 | 247.6 | 284.9 | 244 | 217.9 | 155.1 | 219.4 | 230.5 | 213.2 | 242.7 | 245.7 |
| Operating Margin | 26.47% | 24.65% | 29.17% | 27.4% | 27.07% | 26.83% | 29.55% | 26.61% | 24.12% | 16.25% | 22.84% | 25.36% | 23.74% | 25.49% | 24.79% |
| Earnings before Tax (EBT) 1 | 178.3 | 145.3 | 210.8 | 188.8 | 203.4 | 225.8 | 259.1 | 203.5 | 177.1 | 113.2 | 177.5 | 191.3 | 174.6 | 204.8 | 206.8 |
| Net income 1 | 138.2 | 109.8 | 162.9 | 146.8 | 157 | 172.7 | 199.7 | 192.5 | 135.2 | 92.6 | 136.5 | 147.7 | 134.1 | 158 | 158.7 |
| Net margin | 16.39% | 12.48% | 18.93% | 16.41% | 17.9% | 18.71% | 20.72% | 20.99% | 14.97% | 9.7% | 14.21% | 16.26% | 14.93% | 16.59% | 16.01% |
| EPS 2 | 1.210 | 0.9600 | 1.450 | 1.330 | 1.460 | 1.630 | 1.930 | 1.890 | 1.340 | 0.9400 | 1.400 | 1.524 | 1.412 | 1.683 | 1.690 |
| Dividend per Share 2 | - | - | 0.1500 | 0.1500 | 0.1500 | 0.1500 | 0.1600 | 0.1600 | 0.1600 | 0.1600 | 0.1575 | 0.1700 | 0.1675 | 0.1700 | 0.1700 |
| Announcement Date | 10/26/21 | 2/3/22 | 4/26/22 | 7/26/22 | 10/25/22 | 2/2/23 | 4/25/23 | 7/27/23 | 10/24/23 | 2/8/24 | 4/25/24 | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,516 | 3,378 | 2,687 | 2,766 | - | 2,619 | 2,571 | 2,438 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.401 x | 6.65 x | 2.13 x | 2.154 x | - | 2.174 x | 2.098 x | 1.946 x |
| Free Cash Flow 1 | 373 | 114 | 811 | 707 | - | 508 | 569 | 598 |
| ROE (net income / shareholders' equity) | 16.9% | -1.47% | 43.9% | 40.9% | - | 32.1% | 28.9% | 23.4% |
| ROA (Net income/ Total Assets) | 3.28% | -0.27% | 9.14% | 10.2% | - | 13.2% | 12.6% | - |
| Assets 1 | 4,803 | 50,696 | 5,075 | 6,268 | - | 4,485 | 4,740 | - |
| Book Value Per Share 2 | 11.30 | 10.10 | 13.50 | 15.50 | - | 20.80 | 24.80 | 35.10 |
| Cash Flow per Share 2 | 5.090 | 2.550 | 8.860 | 8.950 | - | 6.760 | 9.030 | - |
| Capex 1 | 208 | 175 | 199 | 269 | - | 431 | 383 | 349 |
| Capex / Sales | 6.24% | 8.03% | 5.92% | 7.57% | - | 11.59% | 10.16% | 9.06% |
| Announcement Date | 2/20/20 | 2/16/21 | 2/3/22 | 2/2/23 | 2/8/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
53.18
USD
Average target price
73.37
USD
Spread / Average Target
+37.97%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -15.06% | 5.09B | |
| +7.14% | 33.01B | |
| +5.10% | 24.32B | |
| -18.63% | 19.87B | |
| -18.07% | 19.35B | |
| -1.52% | 16.62B | |
| -4.07% | 9.51B | |
| -21.91% | 7.92B | |
| +0.41% | 7.05B | |
| +6.70% | 7.13B |
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