Boyd Gaming Corporation (BYD)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,880,780 | 2,781,600 | 2,433,070 | 1,140,130 | 2,317,550 |
| Revenue | US$ in thousands | 3,601,620 | 3,419,410 | 3,075,210 | 1,946,220 | 3,053,700 |
| Gross profit margin | 79.99% | 81.35% | 79.12% | 58.58% | 75.89% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,880,780K ÷ $3,601,620K
= 79.99%
The gross profit margin of Boyd Gaming Corp. has fluctuated over the past five years, indicating changes in the company's ability to generate profits from its core operations. The margin decreased from 47.80% in 2019 to 52.39% in 2020, suggesting an initial improvement in the company's cost efficiency or pricing strategies. However, in 2021, the gross profit margin increased further to 57.49%, indicating even higher profitability and potentially improved cost management or increased revenues.
Conversely, in 2022 and 2023, the gross profit margin declined to 55.98% and 53.99%, respectively. The decrease in these years may signal increased costs, changes in product mix, or pricing pressures that impacted the company's ability to retain a higher portion of revenue as gross profit.
Overall, the trend in Boyd Gaming Corp.'s gross profit margin over the five-year period reflects a mix of positive and negative factors affecting the company's profitability from its main business activities. The management may need to closely monitor and address the underlying reasons for these fluctuations to sustain and improve the company's financial performance.
Peer comparison
Dec 31, 2023