Boyd Gaming Corporation (BYD)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 316,688 | 304,271 | 283,472 | 344,557 | 519,182 |
| Short-term investments | US$ in thousands | — | 700 | 700 | 600 | 600 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 622,685 | 596,322 | 586,134 | 557,042 | 524,022 |
| Quick ratio | 0.51 | 0.51 | 0.48 | 0.62 | 0.99 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($316,688K
+ $—K
+ $—K)
÷ $622,685K
= 0.51
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 below 1 indicates potential liquidity challenges.
Boyd Gaming Corporation's quick ratio has shown a decreasing trend over the past five years, declining from 0.99 in December 2020 to 0.51 in both December 2023 and December 2024. This downward trajectory may raise concerns about the company's ability to cover its short-term liabilities with its readily available assets.
A quick ratio of 0.62 as of December 31, 2021, and 0.48 as of December 31, 2022, suggests a gradual deterioration in Boyd Gaming's liquidity position during those years. This declining trend may signal a potential risk of difficulties in meeting immediate financial obligations.
Overall, the decreasing quick ratio trend for Boyd Gaming Corporation highlights a need for further scrutiny of its liquidity management processes to ensure the company can address its short-term financial commitments effectively.
Peer comparison
Dec 31, 2024