Boyd Gaming Corporation (BYD)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	304,271	283,472	344,557	519,182	249,977
Short-term investments	US$ in thousands	700	700	600	600	600
Receivables	US$ in thousands	141,400	111,611	89,483	53,464	60,464
Total current liabilities	US$ in thousands	596,322	586,134	557,042	524,022	556,893
Quick ratio		0.75	0.68	0.78	1.09	0.56

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($304,271K + $700K + $141,400K) ÷ $596,322K
= 0.75

The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of 1 or higher is generally considered healthy.

Boyd Gaming Corp.'s quick ratio has fluctuated over the past five years, ranging from 0.64 to 1.17. In 2023, the quick ratio stands at 0.85, which indicates that the company may have slightly less liquidity to cover its current liabilities compared to its more current ratio in 2022 and 2021.

It is important to note that a quick ratio of less than 1 suggests that the company may have difficulty meeting its short-term obligations using only its quick assets. Investors and creditors may view a quick ratio below 1 as a potential risk factor, as it indicates potential liquidity challenges.

Overall, Boyd Gaming Corp.'s quick ratio trend should be monitored over time to assess the company's ability to manage its short-term liquidity effectively.