Boyd Gaming Corporation (BYD)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	529,315	478,228	507,803	650,277	399,494
Total current liabilities	US$ in thousands	596,322	586,134	557,042	524,022	556,893
Current ratio		0.89	0.82	0.91	1.24	0.72

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $529,315K ÷ $596,322K
= 0.89

The current ratio, which measures Boyd Gaming Corp.'s ability to meet its short-term obligations with its current assets, has fluctuated over the past five years.

In 2023, the company's current ratio stands at 0.89, indicating that it has $0.89 in current assets for every dollar of current liabilities. This suggests that Boyd Gaming Corp. may face some challenges meeting its short-term obligations efficiently.

Compared to the previous year, the current ratio has improved from 0.82 in 2022 to 0.89 in 2023. This increase may indicate a better liquidity position for the company, although it still falls below the ideal ratio of 1.

Looking back further, in 2021, the current ratio was 0.91, showing a slight improvement compared to 2023. However, the ratio significantly dropped to 1.24 in 2020, reflecting a more favorable liquidity position at that time.

The lowest current ratio recorded in the past five years was 0.72 in 2019, signifying potential liquidity issues and a higher risk of not being able to cover short-term obligations with current assets.

Overall, Boyd Gaming Corp.'s current ratio has shown variability over the years, indicating fluctuations in its ability to manage short-term liquidity effectively. The company may need to focus on maintaining a more stable current ratio to ensure its financial health and ability to meet its short-term obligations in a timely manner.