Boyd Gaming Corp (BYD) stock analysis

P/E above its 5-year median

Boyd Gaming's P/E of 11.7 is above its own 5-year median of 10.8.

P/E below the industry

Boyd Gaming's P/E of 11.7 is below the Hotels and Motels median of 25.6.

EV/EBITDA below its 5-year median

Boyd Gaming's EV/EBITDA of 7.2 is below its 5-year median of 7.5.

P/B below the industry

Boyd Gaming's price-to-book of 2.24 is below the Hotels and Motels median of 2.81.

Trading below fair value

The share price of $77.50 is below our fair value estimate of $109.25.

Margin of safety over 20%

The price is 29.1% below fair value, more than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew 4.8% a year over the last three fiscal years, short of the 10% we look for.

EPS growing 10%+ a year

Diluted EPS grew 56.6% a year over the last three fiscal years.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing slower than the industry

Revenue grew 0.3% over the last twelve months; the Hotels and Motels median is 3.9%.

Company guidance

No outlook found in earnings releases from the last twelve months.

Gross margin trend

This company does not report gross profit.

Return on equity over 15%

Return on equity was 19.6% over the last twelve months and averaged 47.1% over five years.

Return on capital over 10%

Return on invested capital was 13.0%, above the 10% that usually covers the cost of capital.

Return on equity below the industry

Boyd Gaming's return on equity of 19.6% is below the Hotels and Motels median of 20.0%.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin below its 5-year average

Net margin was 12.3% over the last twelve months, against a 5-year average of 21.6%.

Net margin above the industry

Boyd Gaming's net margin of 12.3% is above the Hotels and Motels median of 5.7%.

High debt

Debt is 109% of shareholders' equity, above the 40% we consider low.

Debt falling against equity

Debt to equity fell from 347% five years ago to 109%.

Debt covered by cash flow

Operating cash flow over the last twelve months equals 22.0% of total debt.

Interest well covered

Operating income covers interest expense 6.1 times.

Short-term assets don't cover short-term debts

Current assets are 0.33 times current liabilities.

Bankruptcy risk in the grey zone

The Altman Z-score is 2.09; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

Boyd Gaming paid dividends worth 1.0% of the share price over the last twelve months.

Yield below Treasuries

The 1.0% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; Boyd Gaming yields 1.0%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 8 fiscal years.

Covered by earnings

Dividends take 11.5% of net income.

Cash-flow cover

Needs dividends paid and free cash flow.