Boyd Gaming Corporation (BYD)

Cash ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	US$ in thousands	304,271	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	249,977	235,084	239,411	247,681
Short-term investments	US$ in thousands	700	700	700	700	700	700	700	—	600	—	—	—	600	—	—	—	600	600	600	500
Total current liabilities	US$ in thousands	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	556,893	554,300	530,843	560,816
Cash ratio		0.51	0.46	0.48	0.45	0.48	0.44	0.47	0.69	0.62	1.00	0.63	1.34	0.99	0.97	2.57	1.66	0.45	0.43	0.45	0.44

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 for Boyd Gaming Corp. has fluctuated over the past eight quarters, ranging from 0.54 to 0.76. The trend indicates that the company has generally maintained a healthy level of cash relative to its current liabilities, with Q1 2022 showing the highest cash ratio of 0.76. However, there was a slight decrease in the cash ratio in the subsequent quarters of 2022 and into 2023, reaching a low of 0.54. Overall, the cash ratio for Boyd Gaming Corp. has remained above 0.5, suggesting that the company has sufficient liquid assets to cover its short-term obligations. Further analysis would be needed to determine the underlying factors contributing to these fluctuations and assess the company's liquidity position in more depth.