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.
Peer comparison
Dec 31, 2023