Boyd Gaming Corporation (BYD)

Fixed asset turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	3,601,616	3,606,409	3,586,859	3,554,099	3,419,413	3,311,475	3,268,060	3,199,581	3,075,213	2,902,128	2,693,719	2,070,962	2,004,050	2,201,313	2,371,540	3,066,925	3,265,708	3,224,200	3,076,731	2,847,900
Property, plant and equipment	US$ in thousands	2,542,510	2,499,720	2,451,860	2,429,160	2,394,240	2,355,750	2,354,460	2,377,450	2,394,180	2,420,790	2,446,810	2,465,300	2,525,890	2,533,900	2,573,560	2,657,930	2,672,550	2,701,840	2,726,550	2,742,920
Fixed asset turnover		1.42	1.44	1.46	1.46	1.43	1.41	1.39	1.35	1.28	1.20	1.10	0.84	0.79	0.87	0.92	1.15	1.22	1.19	1.13	1.04

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,601,616K ÷ $2,542,510K
= 1.42

Fixed asset turnover is a financial ratio that measures how efficiently a company is generating revenue from its investment in fixed assets. Boyd Gaming Corp.'s fixed asset turnover has been relatively stable over the past eight quarters, ranging from 1.46 to 1.51. This indicates that the company is effectively utilizing its fixed assets to generate revenue.

The slight fluctuations in the fixed asset turnover ratio suggest that Boyd Gaming Corp. has maintained a consistent level of efficiency in utilizing its fixed assets to drive revenue generation. Overall, a fixed asset turnover ratio above 1 indicates that the company is generating more revenue relative to its investment in fixed assets, which is a positive sign for investors and stakeholders.