BYD Financials Boyd Gaming Corp

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:17 UTC Overview →

Growth & profitability

Revenue has grown 4.8% per year over the past 5 years.
Free cash flow has grown 27.8% per year over the past 5 years.

Financial health

Total debt ($2.0B) exceeds cash ($353M); net debt is $1.7B.
Total debt has grown slower than revenue (-12.1% vs 4.8% per year).
Operating income covered interest expense 4.7× in the latest year.
Total debt is 1.9× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 3.2% of earnings and 15.0% of free cash flow.
The dividend has grown 49.4% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$4.1B	$1.8B	0.0%	18.3%	70.7%	28.0%	$388M	$2.0B	$353M
2024	$3.9B	$578M	0.0%	23.6%	36.5%	9.0%	$557M	$3.2B	$317M
2023	$3.7B	$620M	0.0%	24.1%	35.5%	9.9%	$541M	$2.9B	$304M
2022	$3.6B	$639M	0.0%	27.6%	40.2%	10.1%	$707M	$3.0B	$283M
2021	—	$464M	—	—	30.1%	7.5%	$811M	$3.0B	$345M
2020	—	-$135M	—	—	-12.0%	-2.1%	$114M	$3.9B	$519M
2019	—	$158M	—	—	12.5%	2.4%	$341M	$3.8B	$250M
2018	—	$115M	—	—	10.0%	2.0%	$273M	$4.0B	$249M
2017	—	$189M	—	—	17.3%	4.0%	$232M	$3.1B	$203M
2016	—	$420M	—	—	45.2%	9.0%	$140M	$3.2B	$194M
2015	—	$48M	—	—	9.4%	1.1%	$196M	$3.3B	$159M
2014	—	-$53M	—	—	-12.1%	-1.2%	$152M	$3.4B	$145M
2013	—	-$80M	—	—	-17.1%	-1.4%	$107M	$4.4B	$140M
2012	—	-$909M	—	—	-299.2%	-14.4%	$22M	$4.9B	$158M
2011	—	-$4M	—	—	-0.3%	-0.1%	$164M	$3.4B	$178M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$990M	$125M	0.0%	19.7%	5.1%	1.9%	$44M	$2.7B	$297M
Jun '26	$1.0B	$131M	0.0%	19.4%	5.2%	2.0%	-$165M	$2.6B	$323M
Mar '26	$997M	$106M	0.0%	16.4%	4.2%	1.6%	-$21M	$2.3B	$373M
Dec '25	$1.1B	$140M	0.0%	15.7%	5.4%	2.1%	$127M	$2.0B	$353M
Sep '25	$1.0B	$1.4B	0.0%	13.9%	54.0%	22.1%	$94M	$1.9B	$319M
Jun '25	$1.0B	$151M	0.0%	23.4%	10.9%	2.3%	$81M	$3.6B	$320M
Mar '25	$992M	$111M	0.0%	20.2%	8.3%	1.7%	$87M	$3.5B	$312M
Dec '24	$1.0B	$171M	0.0%	25.1%	10.8%	2.7%	$151M	$3.2B	$317M
Sep '24	$961M	$131M	0.0%	22.9%	8.0%	2.1%	$146M	$3.1B	$286M
Jun '24	$968M	$140M	0.0%	23.5%	8.2%	2.2%	$99M	$3.0B	$281M
Mar '24	$961M	$136M	0.0%	22.8%	7.8%	2.2%	$161M	$2.9B	$284M
Dec '23	—	$93M	—	—	5.3%	1.5%	$122M	$2.9B	$304M
Sep '23	—	$135M	—	—	7.6%	2.1%	$126M	$2.9B	$269M
Jun '23	—	$192M	—	—	11.0%	3.1%	$106M	$2.9B	$261M
Mar '23	—	$200M	—	—	12.0%	3.2%	$186M	$3.0B	$263M
Dec '22	—	$173M	—	—	10.9%	2.7%	$152M	$3.0B	$283M
Sep '22	—	$157M	—	—	10.2%	2.6%	$197M	$2.9B	$252M
Jun '22	—	$147M	—	—	9.6%	2.4%	$170M	$2.9B	$250M
Mar '22	—	$163M	—	—	10.5%	2.6%	$187M	$3.0B	$403M
Dec '21	—	$110M	—	—	7.1%	1.8%	$172M	$3.0B	$345M

Valuation over time

How the market has priced BYD against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 7.1× (Mar '23) to 2.9× (Nov '26).
The price-to-sales ratio has risen from 1.3× (Mar '23) to 1.3× (Nov '26).
The dividend yield has risen from 1.1% (Mar '23) to 1.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is BYD growing its revenue and profit?

Over the past 5 years, Boyd Gaming Corp's revenue has grown 4.8% per year. These are computed facts, not advice.

How much debt does BYD have?

As of FY2025, Boyd Gaming Corp reported $2.0B of total debt against $353M of cash; operating income covered interest expense 4.7×.

What is BYD's profit margin?

In FY2025, gross margin was —, operating margin 18.3%, and net margin 45.0%.

What is BYD's P/E ratio?

Boyd Gaming Corp's P/E (TTM) is 10.81 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the BYD stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 2.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.