Boyd Gaming Corporation (BYD)

Quick ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash	US$ in thousands	316,688	286,281	284,729	288,038	307,930	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
Short-term investments	US$ in thousands	—	800	800	700	700	700	700	700	700	700	700	600	600	600	600	600	600	600	600	600
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	622,685	610,520	589,095	600,393	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
Quick ratio		0.51	0.47	0.48	0.48	0.52	0.46	0.48	0.45	0.48	0.44	0.47	0.69	0.62	1.01	0.63	1.34	0.99	0.97	2.57	1.66

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 of Boyd Gaming Corporation has exhibited some fluctuations over the reported periods. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

From March 31, 2020, to June 30, 2020, the quick ratio improved significantly from 1.66 to 2.57, indicating a strong ability to cover short-term liabilities with liquid assets. However, the ratio decreased in the following quarters, hitting a low of 0.47 by June 30, 2022, which may raise concerns about the company's short-term liquidity.

Despite the fluctuations, the quick ratio generally stayed above 1, which suggests that Boyd Gaming Corporation has generally been able to meet its short-term financial obligations using its quick assets. However, the downward trend from June 30, 2020, to June 30, 2022, highlights the importance of monitoring liquidity closely to ensure the company can manage its short-term obligations effectively.