Boyd Gaming Corporation (BYD)

Cash ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	US$ in thousands	316,688	286,281	284,729	288,038	307,930	269,155	260,787	263,453	283,472	252,344	250,195	402,975	344,557	570,926	334,537	730,908	519,182	506,046	1,308,350	831,246
Short-term investments	US$ in thousands	—	800	800	700	700	700	700	700	700	700	700	600	600	600	600	600	600	600	600	600
Total current liabilities	US$ in thousands	622,685	610,520	589,095	600,393	596,322	583,419	546,566	592,172	586,134	575,813	534,600	582,136	557,042	568,193	528,908	546,136	524,022	521,174	509,892	501,158
Cash ratio		0.51	0.47	0.48	0.48	0.52	0.46	0.48	0.45	0.48	0.44	0.47	0.69	0.62	1.01	0.63	1.34	0.99	0.97	2.57	1.66

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 fluctuations over the past few years, indicating changes in the company's liquidity position. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.

From March 2020 to June 2020, the cash ratio increased significantly from 1.66 to 2.57, reflecting an improvement in the company's liquidity position. However, there was a decline in the cash ratio in the following quarters, dropping to 0.97 by September 2020 and further decreasing to 0.99 by December 2020.

The trend continued into 2021 with the cash ratio increasing to 1.34 by March but then dropping to 0.63 by June. There was a slight improvement by September 2021 with the ratio at 1.01, but it declined again to 0.62 by December 2021.

In 2022, the cash ratio remained relatively low, fluctuating between 0.44 and 0.69, indicating some challenges in maintaining sufficient cash to cover its short-term obligations. By the end of December 2024, the cash ratio had slightly improved to 0.51.

Overall, the analysis of Boyd Gaming Corporation's cash ratio suggests that the company experienced fluctuations in its liquidity position over the years, with periods of improvement followed by declines. It is important for the company to closely monitor its cash management and liquidity to ensure it can meet its short-term financial obligations effectively.