Boyd Gaming Corporation (BYD)

Short-term

Turnover ratios

Based on the activity ratios provided for Boyd Gaming Corporation:

1. Inventory Turnover:
Boyd Gaming Corporation's inventory turnover has been consistently high over the past few years, ranging from 45.86 in December 2020 to 94.09 in June 2024. This indicates that the company efficiently manages its inventory levels and sells its products quickly. A high inventory turnover ratio signifies strong sales relative to the level of inventory held.

2. Receivables Turnover:
Data on receivables turnover is not available, which makes it challenging to assess how quickly Boyd Gaming collects payments from its customers. Ideally, a higher receivables turnover ratio reflects efficient management of receivables and a quick collection of outstanding payments.

3. Payables Turnover:
Similar to receivables turnover, information on payables turnover is not provided, making it difficult to analyze how efficiently Boyd Gaming pays its suppliers. A higher payables turnover ratio typically indicates that the company is taking longer to pay its short-term obligations.

4. Working Capital Turnover:
Boyd Gaming's working capital turnover has shown variability, with notable values like 6.87 in March 2020 and 19.89 in September 2020. However, it is interesting that no data is available for several periods, indicating a lack of complete information to assess how effectively the company generates revenue relative to its working capital.

In conclusion, Boyd Gaming Corporation demonstrates strong inventory turnover, but the lack of data for receivables turnover, payables turnover, and incomplete information for working capital turnover poses challenges in assessing its overall efficiency in managing assets and liabilities.

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Average number of days

Boyd Gaming Corporation's Days of Inventory on Hand (DOH) have shown a decreasing trend from 4.83 days as of March 31, 2020, to 4.22 days by December 31, 2023, indicating the company has been managing its inventory more efficiently over time. The decrease in DOH suggests that Boyd Gaming has been able to sell its inventory at a faster rate, which could lead to lower carrying costs and better liquidity.

However, the Days of Inventory on Hand slightly increased to 4.31 days as of December 31, 2024. This increase may indicate some challenges in efficiently managing inventory towards the end of the period, which could impact the company's working capital and overall operational efficiency if not addressed promptly.

Further data on the Days of Sales Outstanding (DSO) and Number of Days of Payables are not available, which limits a comprehensive analysis of Boyd Gaming Corporation's overall activity ratios. It is important to monitor these metrics in the future to assess the company's performance in managing its receivables and payables effectively.

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Long-term

The Fixed Asset Turnover ratio for Boyd Gaming Corporation has shown some fluctuations over the years, ranging from a low of 0.86 in December 2020 to a high of 1.51 in March 2023. This ratio measures how efficiently the company is utilizing its fixed assets to generate sales. An increasing trend in this ratio indicates that the company is becoming more efficient in utilizing its fixed assets to generate sales.

On the other hand, the Total Asset Turnover ratio has also shown variability, with values fluctuating between 0.33 in December 2020 and 0.61 in December 2024. This ratio measures how effectively the company is using its total assets to generate revenue. A higher total asset turnover ratio suggests that the company is generating more sales for each dollar of assets it owns.

Overall, it is important for Boyd Gaming Corporation to monitor these long-term activity ratios to ensure that its asset utilization is optimized for revenue generation and profitability. An increasing trend in both fixed asset turnover and total asset turnover ratios would indicate improved efficiency and effectiveness in utilizing assets to drive sales.