Boyd Gaming Corporation (BYD)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	304,271	283,472	344,557	519,182	249,977
Short-term investments	US$ in thousands	700	700	600	600	600
Total current liabilities	US$ in thousands	596,322	586,134	557,042	524,022	556,893
Cash ratio		0.51	0.48	0.62	0.99	0.45

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($304,271K + $700K) ÷ $596,322K
= 0.51

The cash ratio of Boyd Gaming Corp. has fluctuated over the past five years, ranging from 0.53 in 2019 to 1.07 in 2020, indicating the company's ability to cover its current liabilities with its cash and cash equivalents. A higher cash ratio suggests a stronger ability to meet short-term obligations without relying on external funding or liquidating other assets. The decrease in the cash ratio from 2020 to 2023 may indicate a potential decrease in liquidity or an increase in current liabilities relative to cash holdings. It is essential for Boyd Gaming Corp. to closely monitor and manage its cash position to ensure it can meet its immediate financial obligations effectively and maintain financial stability.