Boyd Gaming Corporation (BYD)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 316,688 | 304,271 | 283,472 | 344,557 | 519,182 |
| Short-term investments | US$ in thousands | — | 700 | 700 | 600 | 600 |
| Total current liabilities | US$ in thousands | 622,685 | 596,322 | 586,134 | 557,042 | 524,022 |
| Cash ratio | 0.51 | 0.51 | 0.48 | 0.62 | 0.99 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($316,688K
+ $—K)
÷ $622,685K
= 0.51
The cash ratio of Boyd Gaming Corporation has shown a gradual decline over the years, starting from 0.99 at the end of 2020 to 0.62 at the end of 2021, further decreasing to 0.48 at the end of 2022. The ratio then slightly improved to 0.51 at the end of both 2023 and 2024.
The decreasing trend in the cash ratio indicates that the company may be less capable of covering its short-term obligations with its available cash and cash equivalents. A lower cash ratio may suggest potential liquidity challenges and the need for effective cash management strategies to ensure the company can meet its financial obligations in a timely manner.
It is essential for Boyd Gaming Corporation to monitor its cash reserves closely and explore opportunities to improve its liquidity position to maintain financial stability and mitigate any risks associated with insufficient cash on hand. Further analysis of the company's cash flow management practices and working capital efficiency may be beneficial in addressing these concerns.
Peer comparison
Dec 31, 2024