Boyd Gaming Corporation (BYD)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,601,620 | 3,419,410 | 3,075,210 | 1,946,220 | 3,053,700 |
| Property, plant and equipment | US$ in thousands | 2,542,510 | 2,394,240 | 2,394,180 | 2,525,890 | 2,672,550 |
| Fixed asset turnover | 1.42 | 1.43 | 1.28 | 0.77 | 1.14 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,601,620K ÷ $2,542,510K
= 1.42
Boyd Gaming Corp.'s fixed asset turnover ratio has fluctuated over the past five years. The ratio was 1.47 in 2023, slightly lower than the prior year's figure of 1.48. This indicates that the company generated $1.47 in revenue for every dollar invested in fixed assets.
Compared to 2021, the fixed asset turnover improved in 2023, where it was at 1.41. The significant increase from 2020's ratio of 0.86 suggests that Boyd Gaming has become more efficient in utilizing its fixed assets to generate sales.
However, the current ratio of 1.47 is still below the 2019 level of 1.24. This implies that there may be room for further improvement in how efficiently the company is using its fixed assets to generate revenue. It is crucial for Boyd Gaming to continue optimizing its asset utilization to enhance its overall profitability and financial performance.
Peer comparison
Dec 31, 2023