Boyd Gaming Corporation (BYD)

Quick 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	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
Receivables	US$ in thousands	141,400	104,800	113,157	103,028	111,611	86,518	91,735	97,096	89,483	55,673	57,514	62,863	53,464	44,118	40,711	43,045	60,464	56,675	67,818	64,339
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
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

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 measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates better liquidity and a lower risk of financial distress.

Analyzing Boyd Gaming Corp.'s quick ratio over the past eight quarters, we observe fluctuations in the ratio. In Q4 2023, the quick ratio of 0.85 indicates that the company had $0.85 of liquid assets available to cover $1 of current liabilities, which is an improvement from the previous quarter.

The trend in the quick ratio shows some variability over time, ranging from lows of 0.69 to highs of 0.93. Generally, a quick ratio below 1 suggests that the company may have difficulty meeting its short-term obligations using its readily available assets.

While fluctuations in the quick ratio are normal, investors and creditors will likely monitor this metric closely to assess the company's short-term liquidity position and ability to manage its current liabilities effectively. Further analysis along with other financial ratios and qualitative factors would be beneficial to gain a more comprehensive understanding of Boyd Gaming Corp.'s overall financial health.