Boyd Gaming Corporation (BYD)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	1,799,302	1,823,753	1,992,557	1,875,963	1,788,123	1,683,629	1,647,908	1,628,129	1,565,204	1,537,467	1,509,233	1,484,306	1,432,480	1,337,948	1,253,301	989,182	1,037,088	1,184,027	1,341,814	1,679,659
Inventory	US$ in thousands	21,235	20,414	21,177	20,442	20,692	20,640	21,408	21,973	22,173	22,323	21,091	20,550	20,090	19,550	19,998	20,601	22,616	22,769	25,013	22,235
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

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,799,302K ÷ $21,235K
= 84.73

Boyd Gaming Corporation's inventory turnover has shown a fluctuating trend over the period from March 31, 2020, to December 31, 2024. The inventory turnover ratio indicates the number of times a company sells and replaces its inventory during a specific period. A higher inventory turnover ratio generally signifies that the company is efficiently managing its inventory by quickly selling its products.

From March 31, 2020, to June 30, 2021, the inventory turnover ratio of Boyd Gaming Corporation increased steadily from 75.54 to 62.67, indicating a more rapid turnover of inventory during this period. However, there was a slight decline reported at the end of June 2021, with the ratio dropping to 62.67.

Subsequently, from September 30, 2021, to March 31, 2024, there was a noticeable upward trend in the inventory turnover ratio, reaching its peak at 91.77 on March 31, 2024. This upward trend indicates an improvement in inventory management efficiency with the company selling and replenishing inventory at a faster rate during this period.

However, there was a slight decline recorded by the end of December 31, 2024, with the inventory turnover ratio decreasing to 84.73. Despite the slight drop towards the end of the period, the overall trend suggests that Boyd Gaming Corporation has been effectively managing its inventory turnover, which is a positive indicator of operational efficiency and effective inventory management practices.