Boyd Gaming Corporation (BYD)

Liquidity ratios

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
Current ratio 0.89 0.80 0.84 0.77 0.82 0.76 0.78 0.99 0.91 1.26 0.89 1.59 1.24 1.23 2.86 1.92 0.72 0.71 0.75 0.72
Quick ratio 0.75 0.64 0.69 0.62 0.68 0.59 0.64 0.86 0.78 1.10 0.74 1.45 1.09 1.06 2.65 1.74 0.56 0.53 0.58 0.56
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

Boyd Gaming Corp.'s liquidity ratios, as indicated by the current ratio, quick ratio, and cash ratio, exhibit fluctuating trends over the past eight quarters.

The current ratio, which measures the company's ability to cover its short-term obligations with its current assets, has hovered around 0.80 to 0.90 range. While this ratio indicates that Boyd Gaming Corp. may have some difficulty meeting its short-term liabilities with its current assets alone, it is essential to note that the trend has not shown consistent improvement over time.

The quick ratio, a more stringent measure of liquidity that excludes inventories from current assets, also demonstrates a similar pattern of fluctuation. This suggests that Boyd Gaming Corp. could face challenges in meeting its immediate financial obligations without relying on inventory to a significant extent.

The cash ratio, the most conservative liquidity measure that considers only cash and cash equivalents to cover current liabilities, has ranged between 0.54 and 0.61. This indicates that Boyd Gaming Corp. may have a relatively limited amount of cash on hand compared to its short-term obligations.

Overall, the liquidity ratios of Boyd Gaming Corp. highlight the importance of closely monitoring the company's ability to meet its short-term financial obligations, as the fluctuations in these ratios may indicate potential liquidity challenges that could impact the company's financial health and operational sustainability in the future.

Additional liquidity measure

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 conversion cycle days -49.58 -52.93 -45.05 -48.02 -65.81 -45.19 -37.01 -35.27 -48.34 -39.32 -37.02 -27.94 -30.86 -16.44 -29.41 -16.98 -27.41 6.42 -197.05 -84.29

The cash conversion cycle of Boyd Gaming Corp. has shown fluctuations over the past eight quarters. In Q4 2023, the company's cash conversion cycle was -8.26 days, an improvement from the previous quarter where it was -9.30 days. This indicates that Boyd Gaming Corp. was able to convert its investments in inventory and receivables into cash more effectively in Q4 2023.

Looking at the trend over the past year, the cash conversion cycle has generally been negative, suggesting that Boyd Gaming Corp. has been able to manage its working capital efficiently. The most significant improvement was seen in Q2 2022 when the cash conversion cycle was -6.42 days, compared to -13.67 days in Q4 2022.

Overall, the negative values of the cash conversion cycle indicate that Boyd Gaming Corp. has been able to operate with a cycle where it receives cash from customers before having to pay its suppliers and vendors. This efficient management of working capital is a positive sign for the company's liquidity and operational efficiency.