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 29 h ago 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

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	FCF	Total debt	Cash
2025	$4.1B	$1.8B	0.0%	18.3%	$388M	$2.0B	$353M
2024	$3.9B	$578M	0.0%	23.6%	$557M	$3.2B	$317M
2023	$3.7B	$620M	0.0%	24.1%	$541M	$2.9B	$304M
2022	$3.6B	$639M	0.0%	27.6%	$707M	$3.0B	$283M
2021	—	$464M	—	—	$811M	$3.0B	$345M
2020	—	-$135M	—	—	$114M	$3.9B	$519M
2019	—	$158M	—	—	$341M	$3.8B	$250M
2018	—	$115M	—	—	$273M	$4.0B	$249M
2017	—	$189M	—	—	$232M	$3.1B	$203M
2016	—	$420M	—	—	$140M	$3.2B	$194M
2015	—	$48M	—	—	$196M	$3.3B	$159M
2014	—	-$53M	—	—	$152M	$3.4B	$145M
2013	—	-$80M	—	—	$107M	$4.4B	$140M
2012	—	-$909M	—	—	$22M	$4.9B	$158M
2011	—	-$4M	—	—	$164M	$3.4B	$178M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Mar '26	$997M	$106M	0.0%	16.4%	-$21M	$2.3B	$373M
Dec '25	$1.1B	$140M	0.0%	15.7%	$127M	$2.0B	$353M
Sep '25	$1.0B	$1.4B	0.0%	13.9%	$94M	$1.9B	$319M
Jun '25	$1.0B	$151M	0.0%	23.4%	$81M	$3.6B	$320M
Mar '25	$992M	$111M	0.0%	20.2%	$87M	$3.5B	$312M
Dec '24	$1.0B	$171M	0.0%	25.1%	$151M	$3.2B	$317M
Sep '24	$961M	$131M	0.0%	22.9%	$146M	$3.1B	$286M
Jun '24	$968M	$140M	0.0%	23.5%	$99M	$3.0B	$281M
Mar '24	$961M	$136M	0.0%	22.8%	$161M	$2.9B	$284M
Dec '23	—	$93M	—	—	$122M	$2.9B	$304M
Sep '23	—	$135M	—	—	$126M	$2.9B	$269M
Jun '23	—	$192M	—	—	$106M	$2.9B	$261M
Mar '23	—	$200M	—	—	$186M	$3.0B	$263M
Dec '22	—	$173M	—	—	$152M	$3.0B	$283M
Sep '22	—	$157M	—	—	$197M	$2.9B	$252M
Jun '22	—	$147M	—	—	$170M	$2.9B	$250M
Mar '22	—	$163M	—	—	$187M	$3.0B	$403M
Dec '21	—	$110M	—	—	$172M	$3.0B	$345M
Sep '21	—	$138M	—	—	$236M	$3.3B	$571M
Jun '21	—	$114M	—	—	$222M	$3.3B	$335M

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 7.5× (Mar '23) to 3.6× (Jun '26).
The price-to-sales ratio has risen from 1.3× (Mar '23) to 1.6× (Jun '26).
The dividend yield has fallen from 1.0% (Mar '23) to 0.9% (Jun '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?

As of Jun '26, Boyd Gaming Corp traded at a price-to-earnings ratio of about 3.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.