Boyd Gaming Corporation (BYD)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Inventory turnover | 88.55 | 83.12 | 70.59 | 71.30 | 45.86 |
| Receivables turnover | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
| Working capital turnover | — | — | — | — | 17.25 |
Boyd Gaming Corporation's inventory turnover ratio has shown a positive trend over the years, increasing from 45.86 in 2020 to 88.55 in 2024. This indicates that the company is efficiently managing its inventory by selling goods more frequently. A higher inventory turnover ratio generally suggests effective sales and inventory management.
On the other hand, the receivables turnover ratio and payables turnover ratio are not provided in the data, indicating that information on the efficiency of collecting receivables and paying off payables is not available for analysis. These ratios are important for assessing the effectiveness of credit and payment policies.
The working capital turnover ratio, which measures how effectively working capital is utilized to generate sales, is indicated only for 2020 with a value of 17.25. The absence of data for the subsequent years makes it challenging to assess the company's ability to generate sales using its working capital efficiently in those years.
In conclusion, while the inventory turnover ratio shows a positive trend, the lack of data for receivables turnover, payables turnover, and working capital turnover limits a comprehensive assessment of Boyd Gaming Corporation's activity ratios over the specified years.
Average number of days
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 4.12 | 4.39 | 5.17 | 5.12 | 7.96 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — |
Boyd Gaming Corporation's activity ratios indicate the efficiency of managing its inventory, accounts receivable, and accounts payable.
1. Days of Inventory on Hand (DOH):
- The DOH decreased from 7.96 days in December 2020 to 4.12 days in December 2024.
- This indicates that Boyd Gaming Corporation is managing its inventory more efficiently, with a shorter time period to sell its inventory.
2. Days of Sales Outstanding (DSO):
- Data for DSO is not provided for any year, which makes it challenging to assess the efficiency of collecting receivables.
- Lack of DSO data obscures the evaluation of the credit policy adherence and receivables management of the company.
3. Number of Days of Payables:
- Similarly, data for the number of days of payables is not provided for any year, resulting in an inability to evaluate the efficiency of managing payables.
- Without this information, it is difficult to gauge how effectively Boyd Gaming Corporation is managing its payables and utilizing trade credit.
In summary, Boyd Gaming Corporation has shown improved efficiency in managing its inventory over the years based on the decreasing trend in DOH. However, the lack of data for DSO and the number of days of payables limits a comprehensive assessment of the company's overall activity ratios.
Long-term
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Fixed asset turnover | — | — | 1.48 | 1.03 | 0.86 |
| Total asset turnover | 0.61 | 0.60 | 0.56 | 0.54 | 0.33 |
Boyd Gaming Corporation's Fixed Asset Turnover ratio has shown consistent improvement over the years, increasing from 0.86 in 2020 to 1.48 in 2022. This indicates that the company is generating more revenue per dollar of fixed assets invested, reflecting better efficiency in utilizing its long-term assets to generate sales.
In terms of Total Asset Turnover, Boyd Gaming Corporation has shown a steady increase from 0.33 in 2020 to 0.61 in 2024. This demonstrates that the company has been more effective in generating revenue in relation to its total assets over the years.
Overall, the increasing trend in both Fixed Asset Turnover and Total Asset Turnover ratios suggests that Boyd Gaming Corporation has been able to improve its operational efficiency and asset utilization, which is a positive indication of the company's ability to generate revenue from its long-term assets. This may reflect improved management of fixed assets and overall business strategy.