Boyd Gaming Corporation (BYD)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	3,007,796	3,117,957	3,099,826	3,070,474	2,913,308	2,791,591	2,755,542	2,692,252	2,567,935	2,566,022	2,361,789	1,769,237	1,505,304	1,702,567	1,777,786	2,287,454	2,655,068	2,613,560	2,148,768	1,680,742
Revenue (ttm)	US$ in thousands	3,601,616	3,606,409	3,586,859	3,554,099	3,419,413	3,311,475	3,268,060	3,199,581	3,075,213	2,902,128	2,693,719	2,070,962	2,004,050	2,201,313	2,371,540	3,066,925	3,265,708	3,224,200	3,076,731	2,847,900
Gross profit margin		83.51%	86.46%	86.42%	86.39%	85.20%	84.30%	84.32%	84.14%	83.50%	88.42%	87.68%	85.43%	75.11%	77.34%	74.96%	74.58%	81.30%	81.06%	69.84%	59.02%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,007,796K ÷ $3,601,616K
= 83.51%

The gross profit margin of Boyd Gaming Corp. has shown some fluctuations over the past eight quarters. In Q4 2023, the gross profit margin decreased to 53.99% from the previous quarter's 57.33%. This decline may indicate a decrease in the company's ability to generate profits from its core operations relative to its revenue during that period.

Comparing Q4 2023 to the same quarter in the previous year, there was a slight increase from 55.98% to 53.99%. This improvement suggests that Boyd Gaming Corp. performed better in generating gross profits relative to its revenue in the current year's fourth quarter compared to the prior year's fourth quarter.

Overall, Boyd Gaming Corp.'s gross profit margin has displayed some variability but has generally remained above 50% over the analyzed quarters. Further analysis and contextual information would be needed to fully assess the reasons behind these fluctuations and their implications for the company's financial performance.