Boyd Gaming Corporation (BYD)
Total 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 |
| Total assets | US$ in thousands | 6,273,130 | 6,311,130 | 6,224,170 | 6,558,950 | 6,650,140 |
| Total asset turnover | 0.57 | 0.54 | 0.49 | 0.30 | 0.46 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,601,620K ÷ $6,273,130K
= 0.57
Boyd Gaming Corp.'s total asset turnover has generally shown an increasing trend over the past five years. The total asset turnover ratio measures how efficiently the company is generating revenue from its total assets. A higher ratio indicates better asset utilization.
In 2023, the total asset turnover ratio was 0.60, showing that the company generated $0.60 in revenue for every dollar of total assets. This represents an improvement from the previous year's ratio of 0.56. The increase in the ratio indicates that Boyd Gaming Corp. has enhanced its efficiency in generating revenue from its assets.
Comparing 2023 to 2020, there has been a significant improvement from a lower ratio of 0.33 to the current level of 0.60. This suggests that the company has been more effective in utilizing its assets to generate revenue.
However, it is worth noting that the total asset turnover ratio dipped in 2021 before increasing again in 2022 and 2023. This fluctuation may indicate varying levels of asset utilization efficiency during those years.
Overall, Boyd Gaming Corp.'s total asset turnover has shown positive performance in recent years, reflecting an improvement in the company's ability to generate revenue from its total assets.
Peer comparison
Dec 31, 2023