Boyd Gaming Corporation (BYD)

Days of inventory on hand (DOH)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover		84.73	89.34	94.09	91.77	86.42	81.57	76.98	74.10	70.59	68.87	71.56	72.23	71.30	68.44	62.67	48.02	45.86	52.00	53.64	75.54
DOH	days	4.31	4.09	3.88	3.98	4.22	4.47	4.74	4.93	5.17	5.30	5.10	5.05	5.12	5.33	5.82	7.60	7.96	7.02	6.80	4.83

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 84.73
= 4.31

Boyd Gaming Corporation's days of inventory on hand (DOH) have shown a fluctuating trend over the past five years. The company's DOH decreased from 4.83 days on March 31, 2020, to 3.88 days on June 30, 2024. This reduction indicates that Boyd Gaming has been managing its inventory more efficiently during this period.

The lowest DOH was recorded on March 31, 2024, at 3.98 days, suggesting that the company was able to sell its inventory quickly relative to its cost of goods sold. On the other hand, the highest DOH was observed on December 31, 2020, at 7.96 days, indicating that Boyd Gaming took longer to sell its inventory compared to other periods.

Overall, the downward trend in DOH signifies an improvement in inventory turnover and liquidity management for Boyd Gaming Corporation. A lower DOH value suggests that the company is effectively managing its inventory levels, which can lead to lower storage costs, reduced risk of inventory obsolescence, and increased cash flow. However, it is essential for the company to monitor its inventory levels closely to ensure optimal balance between maintaining adequate stock and minimizing excess inventory.